I've started to publish the list of Coconino County homes scheduled to be sold in foreclosure each week. Here's the list of foreclosures in Flagstaff and elsewhere in Coconino County this week. I get the list courtesy of Pioneer Title Company, which gathers the info from the County office in charge. I'm publishing these lists not because I think many of my readers can take the cash required to buy at these foreclosure auctions, but to give a sense of where foreclosures are in Flagstaff -- essentially in every neighborhood.

The sales this week (many of those scheduled may be postponed for a variety of reasons) are likely to be purchased by the banks who originally financed the purchase. Their plan is to put the homes on the market for sale and try to recoup some of their losses. It takes a while for the homes to work their way through the banks' processing, but eventually most of these homes will end up listed with Flagstaff real estate agents. Then they will end up  on the Northern Arizona Multiple-Listing-Service, competing with all all the other Flagstaff homes for sale -- and setting the market price.

At that point, any Flagstaff home buyer can see the homes and consider purchasing. The purchase may be "as-is," but the home may be in decent shape. I've seen some foreclosures that have new carpet, new paint and are in better shape overall than the competing owner-occupied homes. The banks that own them are the epitome of "motivated sellers."

For more about how to buy a foreclosed home in Flagstaff, check out this blog post: