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REO's & Short Sales Made Easy EXPERIENCE THE DIFFERENCE! www.irwinrealtors.com Yavapi, CoConino, Maricopa,, Arizona 24 member REO team 24hr BPO's REO Sold within 30 days REO Services, Full Relocation Services, CFK, BPO Repair Est. 10 Years Experience! surrounding non-distressed prices only before the property enters REO. Rather, prices fall as neighborhoods develop vacancies that lead to crime and disrepair. An increase in REO stock should actually be taken as a positive sign for non-distressed prices, Barclays said. "As foreclosure processing rates increase, Arkansas rank: 35 90+ Day 4.47% 2.96% resulting in more REO stock, there is little reason to believe non-distressed home prices will suffer," according to Barclays. "In fact, we should expect the opposite. Blighted neighborhoods should improve as property ownership returns to those with an incentive to maintain and improve its value." Over the past year, Arizona has led the way in home price appreciation, showing 12 percent year-over-year gains. Other hard- hit metropolitan statistical areas (MSAs) have also posted price increases, prompting Barclays to examine certain MSAs in the Sun Belt as bellwethers for recovery. As migration patterns bring homebuyers 51.05% 90+ Day 5.90% year ago 3.65% percent point change 61.35% 38.24% Top Core-Based Statistical Area MEMPHIS, TN-MS-AR 90+ Day 6.62% back to Sun Belt MSAs (such as Arizona's Phoenix-Mesa-Glendale, California's Inland Empire, Las Vegas, and others), analysts are seeing an increase in housing demand, resulting in the absorption of oversupply and a turnaround in home prices. In addi- tion, Barclays' data show Florida's housing recovery (previously anticipated in 2013-2015) has arrived early with the state's home price index soaring 10.3 percent over expectations. "While we had expected long-term year ago 6.56% percent point change 0.95% -4.67% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90- plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the June 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary June 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 2.90% Delinquency Rate june 2012 2.77% Foreclosure Rate 4.13% Delinquency Rate Foreclosure Rate june 2012 2.12% year ago 2.17% percent point change -2.34% Top County CLAY COUNTY Delinquency Rate june 2012 5.71% Foreclosure Rate Unemployment Rate 7.2% 8.1% -11.1% IN REMEMBRANCE outperformance in these markets, the exact timing of recovery was less clear," Barclays said. "Now that these markets have exhibited strong [home price appreciation] for the past several quarters, the momentum term in our forecast has switched from negative to posi- tive, and the near-term outlook for Sun Belt MSAs has become significantly more bullish." STAT INSIGHT AWARDS: President's Circle Award Chairman's Circle Award Leading Edge award Steve Irwin, MBA, REO Broker cell: 928.710.8257 offi ce: 928.775.4894 stevemirwin@gmail.com GRI 102 3.4% Annual increase in real estate employment in Arizona as of June. Source: U.S. Department of Labor Industry Loses Innovative Legal Mind two-year battle with cancer on August 3, 2012. Wilson, a lawyer and historian, was born April 28, 1952, to Robert M. Wilson Sr., and Jan Herrick Wilson in Little Rock, Arkansas. A frontrunner in his line of work, Wilson Robert M. Wilson Jr., 60, died after a began his career in law in 1978 and founded Wilson & Associates PLLC, based in Little Rock. Wilson was recognized for his tireless efforts to improve the mortgage servicing industry. His leadership includes authoring numerous pieces of legislation and serving as general counsel to the Arkansas Mortgage Bankers Association. He was also a found- ing member of USFN, to which he devoted countless hours of service. Wilson graduated from the University of Arkansas and the University of Arkansas School of Law. In his college years, he en- listed in the Arkansas Air National Guard, attended basic training at Lackland Air Force Base in San Antonio, Texas, and was