Prescott Arizona Area Foreclosure News

Several newspapers thought that a decline in May foreclosures from April’s record high was good news, but a decline off a record is not necessarily healthy.  Here’s an article from the WSJ that I thought was a little more appropriate.  
Here’s a bleak milestone: there’s been more the 1 million foreclosures filed in the U.S. so [...]

Is the market ready to turn around?  If history repeats itself, all that has to happen is that Californians are able to sell their homes again so they can move here.  If the numbers in CA recently hold, then we might have seen the bottom. 
See Great news for Arizona! So Cal prices didn’t drop in [...]

Today we launched a new site, www.PrescottREOS.com, to focus on the needs of REO Asset Managers and BPO Service Managers looking for REO partners in the Quad-Cities area of Northern Arizona.
Once fully developed, the site will include a portal to our SureClose listings management system that will allow asset managers to have automated updating as well [...]

Are banks and loan servicing companies able to accurately price distressed properties and REOs?
Some do a good job, but more often than not they rely on national indexes, rather than use local assets in the field such as qualified Certified Foreclosure Specialists who know their cities neighborhood by neighborhood.  And they are in tune with [...]

The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price.
  
When banks price REOs under the market price, multiple offers are often the response.  This means buyers can  be up against stiff competition for that bank-owned home.  
It’s not unusual for some bargain-priced REO [...]