fill
fill
fill
Vito Teti
Tucson - River Campbell
fill
(520) 918-2410
Vito@VitoTucson.com
fill
fill
fill
fill
fill
fill
Buying a Home
fill
Mobile App
fill
Down Payment Assistance
fill
Selling a Home
fill
Luxury Homes
fill
Open House Search
fill
Short Sales
fill
Foreclosures
fill
Green Resources
fill
Virtual Home Finder
fill
Why I Love Arizona
fill
About Long Realty
fill
Long Realty Cares
fill
Long Advantage
fill
Insurance
fill
fill
fill fill
HOUSE NUMBER
fill fill
fill fill fill fill
fill
and/or
fill fill fill
fill
STREET NAME
fill fill fill
fill fill fill
fill
CITY
fill fill fill
fill fill fill
fill
MLS NUMBER
fill fill fill
fill
You can enter multiple MLS Numbers separated by a comma.
fill fill
fill fill fill
fill
fill
fill

Tucson Foreclosures

Tucson Foreclosures

Today, foreclosures make up more than 10% of Tucson home sales market. Even just 5 years ago, we wouldn’t have dreamed that we’d see that many foreclosures, a number high enough to seriously affect home values across the board.

But foreclosures are a sad reality in Tucson’s real estate market today and in real estate markets across the country. Homeowners who lose their jobs and have no means of financial support have no choice but to let the banks repossess their homes. Some homeowners attempt to stall the foreclosure process by seeking financial assistance from some of the financial aid programs now available. Other homeowners choose doing a short sale to avoid a foreclosure.

Sometimes short sales turn into foreclosures, however, depending on how quickly the banks’ investors can earn a profit from the disposition of that home. There’s no set formula. But foreclosing on a home is usually the last choice because it is the least profitable option.

For home buyers and investors, though, foreclosed properties are the bargain of the century and are being purchased at a high rate of speed. We’re seeing more first-time home buyers because they can now afford a home at these bargain prices. And we’re seeing more investors purchasing homes at these distressed prices. Eventually, the number of foreclosures available will decrease. Home values will begin to grow. And our Tucson real estate market may even reach a state we consider “normal” again.

Contact Vito (520) 918-2410