Foreclosures are Coming

You've probably seen the headline. Foreclosures in Maricopa County are up. We were sitting at about 300 to 350 notices a month, now we're at 450 to 500. That's a 60% jump. Makes for a great headline. Sells papers.

Here's what it means for buyers.

Nothing. Not a thing.

The honest reality? Agents are bumping into short sales a little more than we did the last couple of years. That's about it. Our team — the NEXT Real Estate Team — is in the top ten producing teams at HomeSmart in Arizona. Out of over 7,000 agents. Want to guess how many approved short sales we've had this year? One. Not a foreclosure between us and our clients. One short sale. That's the whole story on the ground.

But I know what your brain does when it hears "foreclosures are up." Mine does it too. You go straight back to 2007 through 2010. People losing their shirts. Fire-sale prices. And every one of us kicking ourselves thinking, if I'd only bought a few more houses back then.

So let's actually put 2009 on the chart and have a proper look.

See the difference? That's the point. The headlines aren't wrong — foreclosures are up. But the story your gut's telling you, that this is 2009 all over again, isn't the story the numbers are telling.

Now — are there good buys out there right now? Yes. There always are if you know where to look. And Zillow, Realtor, and Redfin don't show you everything. If you send me your must-haves, our award-winning marketing team can shake loose a few options you won't find scrolling on the couch.

Send me your list. I'll shoot you straight on what's realistic, what's a stretch, and what's worth a look.

I got you.