Through 2007 to 2013 there were quite a few foreclosures hitting the market as many homeowners were making their way out of their underwater mortgages. With the price increases over the last year the number of foreclosures has slowed way down. In fact, for Maricopa County there is an average of 54 new notices of trustees daily. To give you an idea of how low that is on March 12, 2009 the peak was reached at 498 per day.
This continues to be great news for homeowners and for our current real estate market. It's a big sigh of relief for those who have possible job changes or other events that may cause them to have to sell their home. At least now it's possible without being forced to do a short sale or foreclosure and hopefully they can even make a little profit!
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