Headlines quick to report foreclosure activity rises in 21 states

News of this activity seemed to cast doubt on a housing recovery, and gives hope to buyers  who have been watching the market for great deals that have seemed to evaporate in the last 12 months. One article even said it was the 2012 tidal wave of foreclosures.  The trap that many fall into is not understanding the underlying cause as why this is happening in these specific states.   Some states have been impacted harder than others; Florida, California, Arizona, Georgia, and Nevada, to name a few.  However, the increase in foreclosure activity in this case can be better traced to the foreclosure process employed by a state.  The above graph shows the pending foreclosures for Maricopa county.  No tsunami or tidal wave on the horizon for Arizona.  Read on to find out why.

Judicial or Non-Judicial Foreclosure- What is Arizona?

26 states employ a judicial foreclosure which is processed through the courts where the lender files a complaint and records a notice of Lis Pendens.  This is more prevalent in the east and mid-west in states such as Florida, Illinois, Wisconsin, Delaware, and Pennsylvania. The homeowner may appear before the judge and dispute any material facts.

The remaining states use a non-judicial foreclosure process.   Arizona is such a state.  This gives the lenders the ability to sell the property without court involvement.  The process is much simpler and quicker.   After missed payments the lender will issue a Notice of Trustee Sale, typically 90 days after the first missed payment.  The Notice of Trustee Sale will set a sale date usually 90 days from the notice date.

What was really said about the “tidal wave of foreclosures”?

Brandon Moore of Realty Trac also said, “The foreclosure and mortgage settlement filed in court earlier this week will help pave the way to a properly functioning foreclosure process by providing a clear roadmap for necessary foreclosures,” Moore continued. “That should result in more states posting annual increases in the coming months. Not surprisingly, many of the biggest annual increases in February were in states with the more bureaucratic judicial
foreclosure process, which resulted in a larger backlog of foreclosures built up over the last 18 months in those states.”

Activity in the 26 states with a judicial foreclosure process rose 24% in February, compared with February 2011, while activity in 24 states with a non-judicial process decreased 23% Bottom line: The non-judicial states are processing the foreclosures quicker compared to their judicial counterparts.  As the housing market bottoms out in many states, the blanket one size fits all comments about real estate can be very misleading.  Just ask any buyer trying to purchase a house in the east valley who has submitted an offer only to find out that it went for above list price and there were 5 competing buyers.

Lender-owned foreclosures in Gilbert and Chandler

The graph to the left shows the active listings for Chandler foreclosures.  It is clearly evident that the number of foreclosures is in significant decline as fewer homeowners are receiving a notice of trustee sale.  Even if it levels out, I don’t see evidence of a tidal wave of foreclosures.

If you are interested in receiving lender-owned foreclosures in any Phoenix area city,   click on receive up to date foreclosure properties.

Related Posts:

Where’s the real estate market going in 2012?

Short Sale posts

Who really loses on a foreclosure?

Bank-owned Waterfront Foreclosures

$220,000 :: 2052 E JEROME Avenue, Mesa AZ, 85204

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4 beds, 2 baths
Home size: 1,754 sq ft
Lot Size: 7,405 sq ft
Added: 05/23/18, Last Updated: 05/23/18
Property Type: Single Family
MLS Number: 5770171
Community: RANCH UNIT 1 LOT 206-288 &
Tract: RANCH UNIT 1 LOT 206-288 &
Status: Active


What a price for a 4 bedroom home with Gilbert Schools!!! No HOA. Exterior painted in 2014. Needs some TLC. Great location close to shopping, restaurants, & Hwy 60

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$255,000 :: 861 E HACKAMORE Street, Mesa AZ, 85203

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3 beds, 2 baths
Home size: 1,552 sq ft
Lot Size: 8,276 sq ft
Added: 05/23/18, Last Updated: 05/23/18
Property Type: Single Family
MLS Number: 5770025
Community: HOHOKAM VILLAGE UNIT 1-C LOT 1
Tract: HOHOKAM VILLAGE UNIT 1-C LOT 1
Status: Active


You Will Love Your New Home With This Open Floor Plan, 3 Bedroom, 2 Bathroom, Open Living Room With Formal Dining Overlooking The Pool Area & Great Family Room Area. Nice backyard & pool!

Listed with First Call, Realtors(r)


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$140,500 :: 5490 E BOISE Street, Mesa AZ, 85205

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2 beds, 2 baths
Home size: 1,228 sq ft
Lot Size: 7,840 sq ft
Added: 03/16/18, Last Updated: 05/23/18
Property Type: Single Family
MLS Number: 5737987
Community: DREAMLAND VILLA 2 LOTS 50-58,
Tract: DREAMLAND VILLA 2 LOTS 50-58,
Status: Active


Beautiful home in Dreamland Villa 55+ community! Neutral colors throughout! Updated kitchen w/ small eat-in area for a table! Arizona Room! HUGE laundry room! 2 - 1 Car Carports on east and west side! 3 storage sheds! Dreamland Villa is NOT an HOA, it has an OPTIONAL ''community club'' that includes 2 clubhouses, community pools, tennis courts, clubs and much more! (175/yr per person) Home does need some work, please see all pictures for accurate representation.

Listed with Re/Max Precision


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$290,000 :: 326 N CORRINE Drive, Gilbert AZ, 85234

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4 beds, 2 baths
Home size: 2,357 sq ft
Lot Size: 7,840 sq ft
Added: 05/23/18, Last Updated: 05/23/18
Property Type: Single Family
MLS Number: 5769810
Community: STONEBRIDGE LAKES ESTATES UNIT
Tract: STONEBRIDGE LAKES ESTATES UNIT
Status: Active


Priced to sell immediately!!! This very high demand Stonebridge Lakes estate oozes charm with a private and community pool/spa, stocked lake for fishing and boating, and numerous parks right by the canal! And its just minutes from the totally revamped downtown Gilbert! This one is truly a must see!

Listed with Homesmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$490,000 :: 6301 E SANDRA Terrace, Scottsdale AZ, 85254

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4 beds, 2 baths
Home size: 2,577 sq ft
Lot Size: 11,325 sq ft
Added: 05/21/18, Last Updated: 05/21/18
Property Type: Single Family
MLS Number: 5769401
Community: NORTH RANCH UNIT 1 LOT 1-56
Tract: NORTH RANCH UNIT 1 LOT 1-56
Status: Active


*ATTENTION SCOTTSDALE INVESTORS & SAVVY BUYERS - Here is an updated home that needs some cosmetic TLC and quick closing.* (Pictures shown reflect last remodel; not current lived-in condition). Remodel had included full overhaul of kitchen and bathrooms including silestone countertops, tiled backsplash, and bamboo wood floors. Now here is YOUR opportunity to own in the highly-desirable 85254 at the right price or overhaul the home to resell. CORNER LOT, NO HOA, PRIVATE POOL IN KIERLAND BELOW MARKET VALUE... This is a golden opportunity to buy in the golden triangle-- Contact us today for more details!

Listed with Open House Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$1,100,000 :: 26995 N 68TH Street, Scottsdale AZ, 85266

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5 beds, 3.5 baths
Home size: 4,595 sq ft
Lot Size: 48,351 sq ft
Added: 05/18/18, Last Updated: 05/19/18
Property Type: Single Family
MLS Number: 5768504
Community: N/A
Tract: N/A
Status: Active


FIRST TIME ON MARKET. ELEGANT ENTERTAINING ESTATE HOME IS SITUATED ON OVER 1 ACRE LOT . ALL BEDROOMS ARE LARGE. KITCHEN HAS GRANITE ISLAND/COUNTER TOPS, ALL BLACK APPLIANCES, DOUBLE OVENS AND MICROWAVE OPENS TO HUGE FAMILY ROOM. TRAVERTINE TILE T/O THE HOME AND CARPET. LARGE MASTER SUITE W/SITTING AREA AND LG BATH. IDEAL FOR LARGE FAMILY OR IF YOU HAVE MANY FRIENDS. 5 BDRMS W/OFFICE/BDRM. OFFICE/BDRM HAS ITS OWN ENTRANCE FROM OUTSIDE THE HOUSE. LARGE GATED COURTYARD ENTRY AS YOU APPROACH THE HOUSE. OUT IN THE BACK YARD AREA IS AN ENTERTAINERS DELIGHT. LOTS OF TRAVERTINE TILE T/O THE BACKYARD PATIO AREA AND FIREPLACE. LOOK FOR THE STAIRCASE TO TAKE YOU TO THE OBSERVATION DECK WHICH HAS ITS FIREPLACE AS WELL. FOR YOU EQUESTRIANS, THERE IS A LARGE CORRAL WITH STABLES AND TACK ROOM.

Listed with HomeSmart


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$260,000 :: 4072 S SHADY Court, Gilbert AZ, 85297

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3 beds, 2 baths
Home size: 1,428 sq ft
Lot Size: 7,405 sq ft
Added: 05/18/18, Last Updated: 05/18/18
Property Type: Single Family
MLS Number: 5768313
Community: POWER RANCH NEIGHBORHOOD 4
Tract: POWER RANCH NEIGHBORHOOD 4
Status: Active


Single level 3 BR/2BA home on a quiet Power Ranch cul-de-sac. Great room floor plan. Grass yard and green belt. Close walking distance to elementary school and community park areas. Miles of walking/hiking trails and community/recreational amenities in Power Ranch. OWNED solar panels, water softener and RO systems.

Listed with Keller Williams Northern AZ


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$359,900 :: 983 N SUNNYVALE Avenue, Gilbert AZ, 85234

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4 beds, 3 baths
Home size: 2,375 sq ft
Lot Size: 13,939 sq ft
Added: 04/20/18, Last Updated: 05/18/18
Property Type: Single Family
MLS Number: 5754963
Community: KRISTIN MANOR
Tract: KRISTIN MANOR
The price of this listing was last reduced on 5/18/2018 by 5%
Status: Active


4 bedroom/3 bath home in Kristin Manor on huge cul-de-sac lot. Conveniently located near US-60 and Loop 202. Home features include vaulted ceilings, 3 car garage with cabinets, huge master suite with his & her closets, double sinks and jacuzzi tub, full downstairs bed & bath, tile floors, ceiling fans, open kitchen with island and large pantry, covered patio and wood blinds. This remarkable property is available for immediate sale. The seller is very responsive and the property is a perfect opportunity for all buyer types.

Listed with American Allstar Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$700,000 :: 1525 N GENTRY Circle, Mesa AZ, 85213

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6 beds, 3 baths
Home size: 6,585 sq ft
Lot Size: 70,131 sq ft
Added: 04/30/18, Last Updated: 05/18/18
Property Type: Single Family
MLS Number: 5759160
Community: SAHARA ESTATES
Tract: SAHARA ESTATES
The price of this listing was last reduced on 5/18/2018 by 3%
Status: Active


This is it....the home that will be everything you want it to be when it's done! 6500 sq ft on 1.61 irrigated acres with NO HOA! 6 bedrooms, 3 full baths, 2 lofts and an office (formerly used as a dark room how cool is that)? RV Parking, RV dumping welcome to your slice of heaven in the city! Quick access to the 202 Red Mountain and in Mesa Unified School District!

Listed with Stunning Homes Realty


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!


$219,900 :: 349 N 102ND Place, Mesa AZ, 85207

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3 beds, 2 baths
Home size: 1,423 sq ft
Lot Size: 5,227 sq ft
Added: 05/17/18, Last Updated: 05/17/18
Property Type: Single Family
MLS Number: 5767606
Community: HACIENDAS DEL ESTE
Tract: HACIENDAS DEL ESTE
Status: Active


This beautiful house in Mesa is the one! Enter through the threshold, and gorgeous flooring leads you throughout the house! In the eat in kitchen, create a culinary delight at the abundance of countertops while using the white appliances, and custom cabinets. Relax in the open family room while reading a good book! All of the bedrooms include plush neutral carpeting, ceiling fans, and large picture windows that bring in natural lighting. The master retreat has an en-suite with a double sink vanity, a walk in shower, and a walk in closet. Sit under the covered patio while gazing out to your desert oasis, or bring your imagination to life in the backyard! See this house today! Before it is too late!

Listed with Better Choice Homes, LLC


Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!