Newsletters

Have you ever wondered why we celebrate Labor Day? As I was trapped in my office late one night (working of course), I decided to research the September holiday. Here is what I read on History.com:

"With the long hours and terrible working conditions, American unions became more prominent and voiced their demands for a better way of life. On Tuesday September 5, 1882, 10,000 workers marched from city hall to Union Square in New York City, holding the first-ever Labor Day parade. Participants took an unpaid day off to honor the workers of America, as well as vocalize issues they had with employers. As years passed, more states began to hold these parades, but Congress would not legalize the holiday until 12 years later."

So, there it is. Labor Day was established by hard working Americans to honor the 12-hour work day, lunch pail in hand, never complaining employees in our great country. While I believe we should all take a day to rest and be with our family and friends, the following day is the time to go out and make some serious foreclosure deals. Now that the kids are back in school and the summer vacations are over, grab your Default Research lists and work them!

A good place to start, as you will read in this month’s newsletter, is Arizona. That state may have reached the bottom of the foreclosure crisis just in time for our clients to invest using our leads. Major money is going into education at ASU and into tripling the size of the convention center in Phoenix. The state is also funneling money into the major areas to spur construction of offices and hopefully bringing families into the area.

There are other great areas to invest at this time, and the real estate professionals will discover several more by reading this month´s newsletter. We are now offering discounts for those real estate professionals, so give us a call on our new phone line at (888) 211-8396.

As Labor Day approaches, we are working even harder for our clients by now having live telephone lines to answer any questions you might have.

But, of course, we will be closed on Labor Day!

Before the winter birds get back to Arizona, I suggest our savvy investors soar back there first. With foreclosures declining in July, it looks like the state may be finally reaching the bottom of the housing slump. Even during the real estate crisis, Arizona retained its solid financial base anchored by a strong military presence, a solid high-tech industry, and of course the beautiful weather for the soon to retire baby boomers.

That is just the beginning of the good news for Arizona. Local, state, and federal construction spending has dramatically increased to counter the residential housing crisis. There is a new line rail system that has also spurred new construction and that has been a catalyst for new buildings, including offices and apartment space. With new offices and business brought a need for an expansion of the state´s convention center. Last but never least was funding for education. The state pumped approximately $600 million into a major expansion of Arizona State University.

Good news and big spending for Arizona can be converted into good deals and solid investments for our clients. Now, fly away!

Los Angeles County Tops 100,000 Foreclosures in One Year

Default Research, the premier provider of preforeclosure real estate data in Southern California, is reporting that Notice of Defaults and Notice of Trustee Sales are down approximately eight percent from June 2008 to July 2008. The statistics also show that, over the past year, foreclosure filings in that area have jumped 120 percent from July 2007.

"An improvement of over eight percent in Southern California is welcome news and hopefully the start of an upward trend," said Serdar Bankaci, founder of Default Research. "However, Riverside and Los Angeles counties continue to be major contributors to the 120 percent jump from last year."

Ten percent of the households in Riverside County saw Notice of Default or Notice of Trustee sales being recorded in the past 12 months. Last month there were 7,247 unique foreclosure documents recorded in Riverside. The nation's largest county, Los Angeles, had 12,609 unique recording in July 2008. The 12 month total for that county topped 100,000 for the first time.

"The housing market indicators show a declining inventory of homes for sale, but the median home values also continue to decline," said Bankaci. "Many areas have seen home values fall over 30 percent since the middle of 2006 during the housing boom. Without a short sale or a few other options, it is nearly impossible to sell a home that was overly leveraged."

Below is a unique and accurate local look at how the Default Research foreclosure statistics affect your area:

Default Research is California's leader in foreclosure research, reporting Notices of Default and Trustee Sales Notices only days after being recorded. More information about Default Research foreclosure information can be found at its Web site: http://www.defaultresearch.com. For more detailed California foreclosure statistics listed by county, please visit http://market.defaultresearch.com.

Pima and Maricopa Counties Both See Improvements

Default Research, the premier provider of foreclosure real estate data in the Phoenix area, is reporting that foreclosure activity from June 2008 to July 2008 dropped by six percent. However, according to Default Research, the number of unique Trustee Sales recorded in that region has increased 95 percent from July 2007 to July 2008

"Any improvement connected with the foreclosure situation in that region is a good thing," said Serdar Bankaci, founder of Default Research. "We have to temper our enthusiasm because although there is an improvement from last month, the more significant number is the steep increase in unique Trustee Sales over the past year."

The total number of Trustee Sales in Maricopa County was 5,504 while Pima recorded 391 in July. As for households entering foreclosure in the area in the past year, three percent of Maricopa households had a Notice of Trustee Sale recorded while Pima only had recordings of about one percent of households.

"Current market indicators show a drop in median home value of approximately 20 percent in the past twelve months," said Bankaci, whose foreclosure listings arrive two to three weeks ahead of the competition. "Home inventories have remained relatively stable dropping only two percent in the past year. It is a good news and bad news situation in terms of statistics for the Phoenix region as they continue to battle foreclosures."

According to Bankaci, it has only been bad news for homebuyers who purchased in Arizona just two years ago. Bankaci is in contact with one family in the Arizona area who purchased in the middle of 2006 for $300,000 and that same property is now worth $225,000. In addition, that homeowner, with a five percent down mortgage, was facing a loan of $285,000. The difference between the sale price and mortgage price was $60,000. "We were able to connect this family with one of our real estate investors in the region and they were able to avoid foreclosure through a Short Sale," said Bankaci.

Below is a unique and accurate local look at how the Default Research foreclosure statistics affect your area:

Maricopa County: The hardest hit cities are Phoenix (2,010), Mesa (521), Glendale (421), Chandler (208), Surprise (206), and Gilbert (164)

Pima County: The hardest hit cities are Tucson (347), Sahuarita (12), Marana (9), Oro Valley (9), and Vail (7)

Default Research is Arizona´s leader in foreclosure research, reporting Notice Trustee Sales days after being recorded. More information about Default Research can be found at its Web site: www.defaultresearch.com. For more detailed Arizona foreclosure statistics listed by county, please visit http://www.market.defaultrsearch.com.

Default Research is a provider of foreclosure listing data to real estate professionals, lenders and investors. Our Arizona coverage includes trustee sale listings in Maricopa, Pima, Pinal and Yavapai Counties. Our information is specifically tailored to give those in the foreclosure industry an edge over their competitors. Default Research´s data is verified through many sources to be the most accurate.

Order the freshest leads from any Default Research county for six or more months and receive a free copy of, "The Pre-Foreclosure Real Estate Handbook: Insider Secrets to Locating and Purchasing Pre-Foreclosed Properties in Any Market."

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