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Glendale Foreclosures are considered to be low-risk investments as the prices of foreclosed homes in Glendale are much lower as compared to the prices of homes across the country. We have seen off late, that there has been a spike in Arizona foreclosures as thousands of homes went into foreclosure. In fact, there have been several reporting of HUD foreclosures in Glendale and all across Arizona. A 2 bed/1 bath, 940 sq feet, Glendale home situated on the Sether Ave St. is being auctioned for just $35,000. This is great news for investors and first time homebuyers but is this great news for the state and the existing homeowners?
Most of the HUD foreclosures in Glendale are available for sale and you can always get a detailed list from the HUD department or even the FHA. Glendale Foreclosures make up for an important part of Arizona foreclosures, which reported 11,620 properties in some stage of foreclosure in April 2008. The number includes auction notices, default notices as well as bank repossessions. The rate of Arizona foreclosures at the end of April 2008 was one per 224 homes, which is a 26% increase from the previous month and a whopping 181% increase from April 2007.
The good news is that in spite of such a huge increase in rate of Arizona and HUD foreclosures, the state is not in the top 10 state list for foreclosures, which includes California, Nevada, Colorado, Georgia, Florida, Maryland, Michigan, Massachusetts, and Ohio. As of date there are 44 homes available in Glendale for sale and this includes the Glendale Foreclosures. It is yet to be seen how the market moves and if homeowners in Glendale are able to pay their loan on time and maybe in the near future the high rate of foreclosure will take a dip.
