Arizona: 7th Highest Foreclosures Rate
Compared to 2006, Arizona experienced an 88.66 percent increase in houses foreclosure rate for the first quarter of the current year. As March ended, there were 11,757 or 1 out of every 186 homes in some stage of foreclosure, which places Arizona at the 7th spot among states with highest foreclosures rate. The thousands of Arizona foreclosure listings are generating much interest from the investment community. Here are some reasons why they are considered “hot”.
Return Potential
The primary reason why buyers consider these Arizona distressed properties as worthwhile investment is for their amazing return potential. Since foreclosed homes are generally sold at below average market prices, buyers enjoy a considerable amount of savings compared to buying brand new homes. With the great discounts, buyers gain instant equity. Buyers can even purchase these Arizona distressed properties to be used as rental homes, generating a steady flow of income, or as fixer uppers which can be sold again for a quick profit.
Great Location
Arizona distressed properties offer buyers with wonderful investment opportunities. The state has one of the most stable economies in the United States and it has thriving industries in tourism, citrus, copper, cattle and cotton. These properties are usually located on residential neighborhoods near schools, churches and recreational sites. Aside from these, the state is connected to its neighbors by excellent roadways and each city or town has great public transportation services.
Easy to Find
Interested buyers will only have to subscribe to reliable foreclosure listings from real estate brokers like MostlyForeclosures.com to have the chance to purchase one of these amazing Arizona distressed properties. For a small membership fee, buyers can enjoy instant access to thousands of foreclosed houses for sale. Finding one that fits all your needs and budget would be very convenient.
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