Flagstaff Foreclosure Update

The pattern for Flagstaff homes with mortgage loans in default is tending toward short-sales rather than investor bidding at the trustee sales. The schedule for trustee sales is so unreliable, it must not be worth a trip to Flagstaff for bulk investors. In some recent weeks, over a hundred trustee sales have been scheduled, but most have been withdrawn in the last few minutes before sale so that the weeks end with a handful of sales each week.

For the entire month of November, about fifty Flagstaff homes reverted to banks through the trustee sale process. There appear to have been no third-party bidders. At least none that were successful. For a complete list of properties: Coconino County and Flagstaff Foreclosure Update. These properties are most likely to be sold as "bank-owned" properties via the multiple-listing-service. The question is when. Successful buyers of these homes will be represented by an agent watching the new listings on their behalf, evaluating the bank's asking price, and doing a thorough inspection of the homes before closing.

To buy or sell any Flagstaff home, contact me: Ann Heitland at RE/MAX Peak Properties.

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