Foreclosures continue to plague Arizona
April 29th, 2008, 11:25 am · Post a Comment · posted by mistywilliams
Thousands of Arizona families are sinking into foreclosure every month with no end in sight.
A total of 27,404 properties — or roughly one in every 95 households — entered some stage of foreclosure in the first quarter 2008, a new report by data firm RealtyTrac shows. That’s up nearly 245 percent from the same time last year.
Nationwide, nearly 650,000 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported in the first three months of the year, a 112 percent increase from a year ago, according to RealtyTrac. Arizona posted the third highest foreclosure rate in the nation, behind only Nevada and California.
At the county level, Pinal County recorded 2,021 foreclosure filings; Maricopa County had 21,114; and Pima County reported 1,864 in the first quarter, the report shows. The Valley’s foreclosure rate ranked 7th of 100 metropolitan areas studied by RealtyTrac.
The top 10 states with the country’s worst foreclosure rates also included Florida, Colorado, Georgia, Michigan, Ohio, Massachusetts and Connecticut.
You can search for East Valley foreclosure properties at Tribunehomefinder.com.
