Its about April 19th, 2008 we check with Encompass Realty ®, arizona real estate company, Encompass Realty states in the Arizona Multiple Listing Serivce there is about 52,621 residential houses for sale, and out of that 6,421 are Bank Owned property that have been forelcosed on. On this apple for apple results the banks have
12% of the house for sale.
Encompass Realty is reporting the number one reason people are in forclosure, “job loss”. The second reason people are in foreclosure is probably bad loans but more inportant, banks are just not willing to provide foreclosure help.