When you're seeking homes for sale in Chandler AZ, consider looking into foreclosures. Though the Chandler real estate market is experiencing a rebound, many Chandler homes for sale are foreclosures, and can be had for a bargain.
In fact, as of January 2013, one in every 55 Chandler homes had received a foreclosure notice. That means that in some Chandler neighborhoods, one of every 413 housing units is a foreclosure. That's means that those seeking Chandler homes for sale and those who wish to relocate to Chandler AZ have the potential to find their dream home at a dream price.
Chandler and Arizona Foreclosure Statistics
Over the past few years, Arizona has been at the epicenter of the housing crisis. For three years in a row, Arizona had the dubious honor of having the second highest foreclosure rate in the country. In 2012, the rate dropped to 2.69 percent, taking Arizona down to third place overall in the country for foreclosures. That figure represents a 33 percent drop in 2011 and a 51 percent drop in 2012 -- the fourth largest drop in the country as a whole.
Heres what the statisics reflect
- Arizona's 2.69 percent foreclosure rate means that 76,500 homes had a foreclosure notice in 2012 alone
- One of every 37 AZ homes has entered some stage of the foreclosure process
- In the metro Phoenix area, which includes Chandler, the foreclosure rate was 3.09 percent in 2012
- While third place in the nation isn't ideal, the situation on the ground is getting better, as reflected in the Chandler real estate market. And these foreclosure rate trends do translate into good deals for those seeking homes for sale in Chandler AZ, as well as good economic news for the city at large.
Factors Influencing Chandler AZ Foreclosures
One of the reasons behind the dropping foreclosure rate is the strength of the Chandler AZ job market. With major high technology companies like Intel and Verizon, as well as large financial institutions like Wells Fargo and Bank of America helping the strengthen the economic base, Chandler has continued to enjoy a much lower unemployment rate than the rest of the country, only about 6.1 percent.
Plus, Chandler is a desirable destination, offering months of warm, sunny weather, a wide range of recreational activities, and world-class cultural and shopping opportunities. These factors all contribute to Chandler's extremely high growth rate, one of the strongest in the nation.
Foreclosured Homes for Sale Chandler: Tip for Buying
- When seeking to purchase Chandler AZ homes for sale, you may notice that some foreclosures require an "as-is" addendum. This simply means that the seller won't complete any repairs or improvements on the property, so the buyer is buying the home as it is.
- When purchasing distressed properties such as foreclosures, buyers can limit their liability and risk by:
- Hiring a qualified, reputable home inspector for a thorough inspection. Buyers have a 10-day period in which to get an inspection, then review and analyze the results
- Having the HVAC system inspected
- Having the pool inspected
- Seek qualified tradespeople to assess the cost of any damage and repairs
- Before making a decision, assess the rest of the neighborhood, as well. Look for close amenities, such as schools, shopping and public transportation. Check out the crime rates -- and foreclosure rates -- to get a picture of the neighborhood's desirability.
Finally, don't go into the process without an experienced professional Realtor on your side. At Murray Realty Group, we know the Chandler real estate market inside and out; we can help you sort through the lists of foreclosed homes for sale Chandler AZ.
If you're considering Chandler homes for rent or need help with your plans to relocate to Chandler AZ, we can help with that too! Give us a call today.
Check out these other great neighborhoods in Chandler...
...and dont about forget some of our great neighboring towns !
7975 N. Hayden Road Suite A-101
Free Daily Email Updates
- Automated home searches
- Favorite properties
- Email updates
- And much more…