Arizona Mortgage Delinquencies Drop Dramatically

As the Arizona housing market continues to recover, the rate of Arizona mortgage delinquencies plunge. Across Arizona, the number of mortgages that were over 90 days delinquent dropped an annual 30 percent in March. While this is generally a good sign for those interested in purchasing Scottsdale real estate, the drop will lead to a further reduction in the number of foreclosures in the market. Those interested in purchasing a Scottsdale foreclosure should move in quick.

According to data from Lender Processing Services, the state of Arizona showed the largest drop in the country in mortgage delinquencies since last year. In March, the rate of Arizona mortgage delinquencies was at 6.4 percent. This was much lower than the nation’s average of 10 percent, which only dropped by 9.3 percent from March 2012. This drop, both nationwide and in Arizona, has correlated with the number of underwater homeowners. Though negative equity is still an issue in Arizona, we are seeing hopeful improvement.

Some of the best Scottsdale real estate available can be found in Troon North. If you would like to find out about any Troon homes for sale or take advantage of the shrinking number of Troon foreclosures, give me a call at (602) 791-0536.

Carmen Brodeur JD
Realtor
Trillium Properties, LLC
9825 E Bell Road, Suite 120, Scottsdale AZ 85260
(602) 791-0536
Carmen@TopScottsdaleHomes.com
www.TroonRealEstate.com