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Maricopa County (az) Foreclosures Increase 300% In One Year
“Maricopa Country has seen an increase in foreclosure activity of 300% since April of 2006,”
By: Default Research Inc
“Maricopa Country has seen an increase in foreclosure activity of 300% since April of 2006,” said Bankaci (www.defaultresearch.com)
Bankaci points out that 87 percent of the homes for sale in the area are single family homes with a median market value of $245,000. These are a result of sub prime loans, decreasing home values and adjustable interest rates. The abundance of homes has created an ideal situation for Greg Talbot, owner of Shining Knight Investments, LLC, in Pima County, AZ.
“With the huge increase in pre-foreclosures, my business has increased,” said Talbot. “There is more opportunity to select better homes and also help the homeowner rescue their credit. It is a win-win because the homeowner preserves their credit rating and the bank gets their money.”
And, there have been a huge number of homes, as well families in economic distress, for Talbot to help. According to Talbot, the huge increase in foreclosures is causing the high number of unsold homes. The Arizona Daily Star had 9,925 homes listed for sale on Sunday, May 7.
“With 1281 Notice of Trustees Sales filed in April 2007, investors have an opportunity to fix the foreclosure problem,” said Bankaci, whose foreclosure data arrives two to three weeks ahead of the competition. “But, this may not be as easy as it sounds. By the time a home reaches auction, it may be too late. Many of the ‘great’ deals are made prior to the auction.”
Talbot knows that the fresh leads from Default Research are key to being the earliest to approach a homeowner.
“You must be the first person at the door to offer the homeowner solutions to their problems. Then they will work with you,” said Talbot. “I have a huge advantage by having Default Research's leads sent to me daily. I don't have to waste valuable time down at the county recorder’s office nor do I wait 5 days to get this indispensable information from other companies.“
Default Research is the national leader in real estate research. More information about Default Research can be found at their website: www.defaultresearch.com.
Mt. Pleasant, PA
Contact: Josh Chernikoff
Phone: 1-888-211-8396 x705
To contact Greg Talbot:
Shining Knight Investments, LLC
11685 N. Peaceful Night Rd.
Oro Valley, AZ 85737