Prescott Arizona Area Foreclosure News

The New HAFA rules took effect on Monday and this should be good news for buyers and sellers alike of short sales in the Prescott area and especially Prescott Valley where the majority of our short sales are located.
Background:  
In early 2009, the National Association of REALTORS® (NAR) urged the U.S. Treasury Department, the Federal Housing [...]

The National Association of REALTORs (NAR’s) Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts signed in November, dropped to 96.0 in November, a 16.0 percent decrease from October 2009. This decline came after a surge in activity in preceding months, as first-time homebuyers rushed to beat the original deadline for the homebuyer’s [...]

WASHINGTON – Home resales rose in September to the highest level in more than two years, beating expectations, as buyers scrambled to complete their purchases before a tax credit for first-time owners expires.
The National Association of Realtors said Friday that sales rose 9.4 percent to a seasonally adjusted annual rate of 5.57 million in September, [...]

By Peter G. Miller 
Most owners who lose their homes in a foreclosure never thought it would happen to them. It always happens to someone else  you know the people who get sick, laid off, have an accident, that sort of thing.
So you might think: Foreclosure. That will never happen to me. No way. But lurking in [...]