Throughout Barack Obama's presidency, Arizona has served as a symbol of the nation's real estate crisis and recovery. When Obama visited Arizona within weeks of taking office in 2009, the state was among the hardest hit by the housing collapse and the White House was pushing multibillion-dollar programs to save homeowners from foreclosure.Read More »
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With prices surging, the percentage of Arizona homes that are underwater has fallen dramatically since last year.Read More »
Foreclosures in the Phoenix metropolitan area housing market have returned to normal levels while the median price for single-family homes continues to increase.Read More »
Renters no longer have to worry about being surprised when their home is repossessed by a bank now that a new law requiring landlords to give them notice has been signed.Read More »
The number of Arizona homes in some stage of the foreclosure process dropped again in October compared to a year ago, and homes actually repossessed by banks also dipped.Read More »
A housing advocacy organization is planning to sue the state over a budget sweep of $50 million intended to help alleviate the effects of the foreclosure crisis.Read More »
Arizona has broken Nevada's 62-month streak as the foreclosure capital of the nation. The state's foreclosure rate in March actually dropped, but Nevada's dropped more. California kept its third-place ranking.Read More »
WASHINGTON – Banks are neglecting foreclosed homes in minority neighborhoods compared to those in white communities, according to a housing advocacy group that said it will file Fair Housing Act complaints over the supposed practice.Read More »
Arizona will get more than $1.6 billion to relieve underwater homeowners in settlements for two mortgage fraud lawsuits.Read More »
The good news is the prospects for Arizona’s economy remain strong.
The bad news is when compared to previous recoveries it will take quite a long time to get there.