Foreclosure Report - Ron Wilczek

"Normal" versus "Foreclosure"

This report covers the major cites in the Greater Phoenix Area. It shows several major statistics as noted by the column headings. The first three statistical categories show the "number and percentage" of listings that have sold each month in each city. The last 4 categories show the percentage of the "sold" homes that would fall under the "foreclosure" category. In other words, you would read this report as:

"There were 698 "active" homes for sale in March of 2008 in Ahwatukee. 86 sold, which is 12.3% of all homes listed for sale. Of the "active" homes for sale, 83 were foreclosures, or 11.9% of all homes for sale in Ahwatukee in March were foreclosures. 19 of those "sold" homes were foreclosures, meaning that 22.1% of all "sold" homes in Ahwatukee were foreclosures." (see note below *)

I included this report because I believe it is very important in determining the state of the market and when prices will stop declining. Lenders sell foreclosure properties at some big discounts. "Normal" sellers do not want to compete with these prices. However, prices will continue to decline as long as foreclosures are on the market in large quantities and continue to sell:

total % actives sold % sold

total total active # that are that are that are

Active Sold %sold foreclo. foreclo. foreclo. foreclo.

1-Jul 621 83 13.4%

1-Jun 635 105 16.5% 75 11.8% 29 27.6%

1-May 654 114 17.4% 63 9.6% 25 21.9%

1-Apr 692 105 15.2% 85 12.3% 23 21.9%

1-Mar 698 86 12.3% 83 11.9% 19 22.1%

Ahwatukee 1-Feb 604 61 10.1% not tracked 10 16.4%

1-Jan 677 67 9.9% not tracked 12 17.9%

1-Dec 766 75 9.8% not tracked 8 10.7%

1-Nov 804 62 7.7% not tracked 7 11.3%

1-Jul 1,836 386 21.0%

1-Jun 1,939 341 17.6% 374 19.3% 103 30.2%

1-May 2,068 321 15.5% 351 17.0% 108 33.6%

1-Apr 2,083 258 12.4% 318 15.3% 67 26.0%

1-Mar 2,118 229 10.8% 315 14.9% 66 28.8%

Chandler 1-Feb 2,099 164 7.8% not tracked 36 22.0%

1-Jan 2,063 157 7.6% not tracked 28 17.8%

1-Dec 2,317 243 10.5% not tracked 25 10.3%

1-Nov 2,429 200 8.2% not tracked 21 10.5%

1-Jul 2,068 545 26.4%

1-Jun 2,247 377 16.8% 502 22.3% 101 26.8%

1-May 2,372 347 14.6% 462 19.5% 126 36.3%

1-Apr 2,418 283 11.7% 436 18.0% 89 31.4%

1-Mar 2,442 261 10.7% 397 16.3% 71 27.2%

Gilbert 1-Feb 2,444 206 8.4% not tracked 53 25.7%

1-Jan 2,299 153 6.7% not tracked 27 17.6%

1-Dec 2,541 210 8.3% not tracked 23 11.0%

1-Nov 2,640 225 8.5% not tracked 27 12.0%

1-Jul 2,129 702 33.0%

1-Jun 2,104 280 13.3% 622 29.6% 119 42.5%

1-May 2,181 251 11.5% 568 26.0% 118 47.0%

1-Apr 2,224 188 8.5% 541 24.3% 67 35.6%

1-Mar 2,234 161 7.2% 527 23.6% 54 33.5%

Glendale 1-Feb 2,209 135 6.1% not tracked 49 36.3%

1-Jan 2,101 128 6.1% not tracked 31 24.2%

1-Dec 2,345 143 6.1% not tracked 38 26.6%

1-Nov 2,403 140 5.8% not tracked 23 16.4%

1-Jul 780 373 47.8%

1-Jun 813 153 18.8% 334 41.1% 81 52.9%

1-May 850 152 17.9% 312 36.7% 78 51.3%

1-Apr 872 123 14.1% 263 30.2% 72 58.5%

1-Mar 931 102 11.0% 273 29.3% 40 39.2%

Maricopa 1-Feb 907 65 7.2% not tracked 27 41.5%

1-Jan 906 56 6.2% not tracked 22 39.3%

1-Dec 1,007 80 7.9% not tracked 10 12.5%

1-Nov 998 61 6.1% not tracked 2<

"Normal" versus "Foreclosure"