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How to Bid at an Auction in Maricopa County, Arizona

They say that truth is stranger than fiction. If this is really the case I wonder why the producers of the new reality show ‘Property Wars’ on Discovery Channel blatantly staged, reenacted and otherwise artificially created drama when it wasn’t necessary (if you’ve never heard of the show click here for my full write-up on BiggerPockets.com from August 3rd, 2012). ‘Property Wars’ pits four inve...
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How to Search and Track a Foreclosure Home in Arizona

Okay, I probably just won the "longest title for a blog post in the history of social media" award. Sue me. I couldn't come up with a shorter name. I'm often asked how to find a property in foreclosure. Specifically, a house in foreclosure in Maricopa County, Arizona. Even more specifically, Phoenix, Scottsdale, Glendale, Chandler, Gilbert, Peoria, Avondale, Buckeye, El Mirage, Laveen, Goodyear...
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Phoenix Housing Sub-Markets and Terms of Sale

Prior to the real estate market crash in 2008, determining the after-repair value of a home was much easier. That’s because a majority of homes on the retail market were what housing experts call normal sales. In other words, these houses were not in foreclosure or owned by a bank. With the tidal wave of foreclosures that hit nearly every city in the United States, retail markets were overr...
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Greater-Phoenix Housing Bottom: 3rd Time a Charm?

Is it possible that banks are finally running out of homeowners to foreclose on in the greater-Phoenix market? The numbers suggest this may be the case. Take a look at this graph from Michael Orr’s Cromford Report. Note the three bottoms in April 2010 ($89.37), September 2010 ($82.37) and again in August 2011 ($79.14). Since last fall we’ve seen a steady increase here of almost 12%. This...
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Buying a House at the Auction: Part I

Editor’s Note:  This is the first of three posts about buying a house at a greater Phoenix metro-area auction (Maricopa and Pinal County).  I’m not an attorney or expert when it comes to foreclosure.  I’m not buying 3-5 houses a day at the courthouse steps.  I don’t even purchase 3-5 houses a month.  However, I’ve done my share of deals, about 20-30 a year for the past three years, so I feel like ...
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Cosmos – 2011 Biggest Loser Winner

My flip on Cosmos Circle in Scottsdale is this year’s winner of the biggest loser contest. This house would have tipped the scales and 450 lbs. and shed over 200 in the course of 90 days. Purchased at a trustee’s sale on 9/20/11 for $486,000, I dumped $48,000 into it with upgrades that included brand new 20” travertine tile, carpet, stainless steel appliances, granite countertops in the kitchen...
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