So, with all of the buzz surrounding foreclosures throughout California, Nevada, and Arizona... we think that some people have forgotten that million dollar homes were also purchased on false hopes and over-inflated incomes (in some cases), along with their lesser counterparts. We do realize that our tumultuous economy has also been a factor in many families being unable to pay their mortgages, but for the most part, lending institutions are to blame for the country's "mortgage meltdown".
Seeing that Arizona has been consistently ranked #3 in the national for foreclosures, we should not assume that these foreclosures aren't occurring in million dollar neighborhoods. Foreclosure is happening to everyone... it is not bias to one nationality, one race, one income bracket, etc. It rears its ugly head anywhere and to anyone.
In relation to our local market, we are seeing more $600,000+ homes on the market reading "Short-Sale" or "Foreclosure". Sometimes, purchasing these homes can be a "good deal" for the buyer... if you have a few weeks or months to wait for a response from the lender. To learn about homes such as these within Tucson, Oro Valley, and Marana... just give us a call.
There was a great article in The Wall Street Journal today regarding these types of foreclosures. Attached is the link to the article... Please feel free to comment.
http://online.wsj.com/article/SB122177752165254337.html
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment