Both the Mesa Riverview development and foreclosure listings in Mesa provide investment opportunities for people interested in the fast-growing suburb of Phoenix.
Listings of foreclosure homes in Mesa are still surging as shown in the 25-percent increase in foreclosure filings in Maricopa County, where Mesa is situated, along with Phoenix. A total of 38,662 foreclosure actions were posted in the county in the first quarter, comprising 69.43 percent of total filings in Arizona during the quarter.
Based on rate of house listings by state in the first quarter, Arizona ranked second with one foreclosure filing for every 49 homes in the state. Based on total number of filings, the state ranked third, behind California and Florida.
Meanwhile, the Mesa Riverview development is still considered a good investment for those interested in commercial properties despite falling short of its expected pace of success. It has generated $6.9 million in sales tax revenues for the city of Mesa and has created thousands of jobs in retail and in service enterprises.
Kimco Realty, which has bought out its original partners in the project, has figures to show that Riverview will eventually reach its original goals. Being one of the largest shopping-mall owners in the country and running more than 100 properties nationwide, Kimco has the power to attract national chains and other successful tenants.
For those pondering residential investments, foreclosure listings in Mesa are a great way to enter the Phoenix-Mesa market. The 14,689 units that entered bank foreclosure listings in the first quarter in Maricopa County have greatly increased the number of units available for sale.
Among the counties of Arizona, Maricopa has been posting the highest number of completed foreclosures, as the county covers Phoenix and Mesa, two of the three largest cities in the state. REO homes in Maricopa accounted for 68.5 percent of all bank owned homes in the state in the first quarter.
Residential investors can also explore HUD homes listings in Mesa, as the share of federal government-owned homes has been rising over the past year. The share of home loans guaranteed by the Federal Housing Administration has spiked to about 30 percent of all home loans provided nationwide from only about 3 percent four years ago.
With the higher share of FHA loans, the percentage of FHA or HUD mortgages defaulting has been rising and the number of government-owned homes in foreclosure listings in Mesa continues to increase.
Search foreclosure listings in Arizona cities:
- Foreclosure listings in Gilbert
- Foreclosure listings in Scottsdale
- Foreclosure listings in Phoenix
- Foreclosure listings in Tucson
- Foreclosure listings in Surprise
Related Posts:
- Phoenix Flippers Targeting Mesa Foreclosure Listings
- More Homes in Tucson Foreclosure Listings for Investors
- Bank Foreclosures Account for a Huge Part of Phoenix’s February Sales
- Level of Home and Ranch Foreclosure Listings in AZ Merited $45 Million
- Find List of Cheap Houses in Tucson in Foreclosure Listings
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