Some families and investors are choosing foreclosures in Mesa over foreclosure properties in Phoenix. In addition to low home prices, Mesa also affords families wider spaces and relatively safer and quieter neighborhoods.
Phoenix home auctions have been moving properties fast to aggressive buyers who have been snapping up lower-priced homes. In February, about 940 houses were sold at Valley public auctions.
More investors are working out sales of Phoenix pre foreclosures to help homeowners avoid foreclosure and at the same time make money. Of the nearly 79,000 homes sold in the Phoenix area in 2009, just a few units did not pass through investors.
The number of bankruptcy homes for sale in Phoenix continued to rise. This is despite the decision of large banks to have a foreclosure moratorium last year.
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