Archive for November, 2007

For the first time in 16 years, Arizona housing prices dropped into the negative numbers. The recent data was reported by the Office of the Housing Enterprise Oversight. The once hot Arizona real estate market has gone quite cold - thanks to the subprime mortgage fiasco that spread through the nation like wildfire. Now, this report can also be considered an indication for investors to start buying properties, especially Arizona bank foreclosures, which are considerably cheaper than other housing units.

According to market reports, Dallas bank foreclosures have recorded an upward movement by almost 18% as compared to the foreclosure rates around the same time last year. In 2006, the rates went up by 15% as compared to this year, which shows a promising market for foreclosures for sale but a not so good situation for homeowners.