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VISIT US ONLINE @ DSNEWS.COM We know your HOT buttons. ARIZONA: Yavapai, Coconino, Gila County MEMBER Holly Grigaitis Designated Broker 928.284.9367 reo@optionsaz.com verdevalleyrealestate.com IN THE NEWS Foreclosure Resales in Phoenix Drop to Lowest Level Since 2008 Foreclosure resales in the Phoenix area fell to the lowest level since January 2008 as fewer bank-owned properties are listed for sale, announced San Diego-based DataQuick in late October. In September, foreclosure resales accounted for 19 percent of all homes that were resold, a decrease from 19.2 percent in August and 44.4 percent in September 2011. In March 2009, foreclosure resales peaked at 66.2 percent. The lack of REOs available for sale has encouraged price growth. In September, the median price for new and existing homes and condos rose to $155,000 for the combined Maricopa-Pinal counties metro area. The figure was the highest reached since November 2008 and the 10th consecutive month of yearly gains, according to DataQuick, which tracks real estate trends nationally through public property records. The figure also marks a 0.6 percent increase from August and a 24.1 percent jump from a year ago. According to DataQuick, this upward trend in home prices may not last if lenders decide to clear out the backlog of foreclosures, which would lead to a rise in inventory. The real estate data provider explained that if demand stays high and prices continue to climb, reluctant sellers may start putting their homes on the market, which would also lead to more inventory and lower prices. DataQuick also reported a drop in sales in September in the Phoenix region. A total of 7,840 new and existing houses and condos closed escrow, a decrease of 14.6 percent from the month before and down 9.5 percent from a year ago. While it's normal for sales to slow in August and September, DataQuick explained the decline was worsened by the lower number of business days in September. Even though sales were down, DataQuick noted higher-priced homes increased in sales while lower-priced homes saw a decline. Sales in September for homes that cost less than $100,000 dropped 44.8 percent from last year, while sales between $200,000 and $400,000 rose 20.6 percent and sales above $500,000 hiked 22 percent over a one-year period. Arizona Roberta Chatfield-Gonzalez Arkansas rank: 33 90+ Day Delinquency Rate Foreclosure Rate september 2012 4.55% Unemployment Rate 2.12% 7.1% year ago 3.71% 1.81% 8.1% percent point change 22.5% 17.5% -12.3% Top County ClAy CounTy 90+ Day Delinquency Rate Foreclosure Rate september 2012 6.19% 5.69% year ago 4.46% 4.79% percent point change 38.7% 18.8% Top Core-Based Statistical Area BlyTheville, AR 90+ Day Delinquency Rate Foreclosure Rate september 2012 6.57% 4.17% year ago 5.20% 4.20% percent point change 26.3% -0.8% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the September 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary September 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. Driven by the inDustry, for the inDustry Phoenix One Realty ABR, GRI, SRES, CLSS, e-Pro, RECS Call 602.882.0603 MEMBER STAT INSIGHT -36.33% Annual decline in Arizona foreclosure filings in October. Source: RealtyTrac Help shape the next issue of DS News. Drop us a line at Editor@DSNews.com. 91