Rush For Arizona Foreclosure Listings

Realty companies have reported an increase in the number of people who are buying Arizona foreclosure listings. One leading company has reported a tremendous increase in business, with 70 percent of their work being related to foreclosures. One of the representative said,” It’s a mad rush, people know the advantages of buying foreclosed homes and they are not letting this chance pass’.

Arizona has one of the highest foreclosure rates in the country and thus homebuyers have an excellent opportunity to get properties they want. The prices of the foreclosed properties are so low that even college students are buying them. Jean Chad, 23, says he bought his first home a few days ago. “The house was being sold at $13,000, I couldn’t leave it to someone else,” he says. The Marketing student took his savings and asked his grandmother for some money and with that, he is now the proud owner of his a house. Asked why he bought the house, his answer was, “Nothing surpasses the feeling you have when you wake up in the morning and know that you are in your own house and have the freedom to do what you want”.

While Chad is only a student and has his reasons for buying the house, most families want the contentment of staying in their own home without worrying about rent or how to customize the house. Families are pulling all their savings and buying houses at this time. Everyone knows how difficult it was to buy a house before the recession and no one is letting this moment pass them. With property going at prices last seen three decades ago, more and more people are taking advantage of the low prices.

Others are buying Arizona foreclosure listings with the intention of profiting from them in future. Jack Zucker and Fred Hank are two such people. Recognizing the opportunity that the low priced properties have for them, the two friends have pulled their savings and have already bought five fixer-upper houses. It was an unbelievable bargain, the price of the houses ranged from $12,000 to $17,000. The two will do some repairs on the houses and contemplate on whether to rent them out or resell when the housing prices start rising.