Tucson real estate : Foreclosures drop to 5 year low

Tucson real estate : Well it’s about time… 1st quarter foreclosures in Pima County reached a 5 year low. ┬áThere were 1,017 foreclosures in the 1st quarter of 2013 down from 1,342 during the same time last year.

Nationally, foreclosure dropped 23% in 2013 compared to 2012.

The housing market is on the mend.

Realtor Lisa Bayless, specializes in Catalina Foothills, Oro Valley and Marana real estate.  Contact Lisa with all your Tucson real estate needs.

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One Response to Tucson real estate : Foreclosures drop to 5 year low

  1. Many banks that were most active in foreclosing reached an agreement with the government a few months ago to make a greater effort to restructure people’s debts or allow more short sales rather than foreclose. Plus, home values in the area seem to have bottomed out and even moved up a bit, the employment picture looks a little brighter, and more people are able to refinance under HARP, FHA or VA programs without referencing the home current value.

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