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Real Estate Guide

April 5, 2011

Pima foreclosure filings decline from year ago

Tags: Filings, Foreclosure Filings

Foreclosure filings in Pima County picked up steam in March after ebbing a bit in February.

There were 948 trustee-sale notices filed in the county last month, a 24 percent increase over February. That’s fewer than March 2010, though, when 1,089 distressed-property owners received notice their loans were in default. Trustee-sale notices let property owners know they’re delinquent on their mortgage and an auction has been scheduled, but it doesn’t mean for sure they’ll lose their property.

Foreclosure sales continued at a faster pace last month than in years past, maintaining a recent trend. There were 791 such sales in March, a 9 percent increase over March 2010.

The sales, which denote the end of the foreclosure process, can actually help the housing market, as they show that distressed properties are moving into the hands of new owners, housing trackers say.

Pima County foreclosures

Trustee-sale notices

2011 2010 2009 2008

March 948 1,089 1,154 661

February 762 982 1,016 598

Trustee deeds

2011 2010 2009 2008

March 791 726 421 275

February 662 516 537 281

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