Phoenix area news reports that last month lenders moved to foreclose on 7,447 homes, a new high. Valley homes foreclosed on and resold in September seem to add up to as much as 50% of the resales in September.
While this seems like more bad news or just more of the same......The good news is.....
According to Arizona Multiple Listing Service Data, 6136 homes were sold in September, the highest monthly level since August 2006!
So yes, the buyers are out there! What a great market to buy for first time homeowners and returning Veterans! And today it looks like the Feds may be reducing interest rates. Investors know that all the families that have lost their homes are needing rentals, what a great opportunity!
Remember when your Mom told you that when "life hands you lemons.....make lemonade"
This may be one of those times!
