Mesa is one of the larger edge cities found within the metropolitan limits of the large Phoenix area. Mesa real estate is still at a volatile juncture, with property values declining and foreclosures remaining among the highest in the country. According to a February 23, 2010 article in KPHO News, “We know all too well just how much the housing crisis has ballooned. Arizona ranks second in the country for foreclosures.” The piece, written by Elizabeth Erwin, also analyses some of the proposed fixes for the local housing crisis: “Democrat-backed House Bill 2765 would protect homeowners from scams and fraud by regulating the businesses that offer to help, the same way they regulate lenders…The plan also proposes a 60-day relief period to homeowners in foreclosure…Also, the plan would push back a foreclosure for up to a year if the bank isn’t playing fair with the homeowner.”
This same serious problem for Mesa homes for sale was echoed by a February 11, 2010 article in the Phoenix Business Journal, which found that “Arizona ranked second in foreclosures for January behind only Nevada, which has held the top spot for 37 months running, according to a RealtyTrac report released Thursday. One in every 129 Arizona housing units was hit by foreclosure proceedings during the month, a 4 percent increase over January 2009. That rate translates to 21,048 homes.” The piece continues to provide a broader perspective, saying that “Nationally, the number of foreclosure filings…fell 10 percent in January from December, but was up by 15 percent over January 2009.”
Property values for Mesa real estate for sale has also declined recently, according to a February 12, 2010 report by Fox 10’s Laura Sambol. She found that January property values declined in the Phoenix Valley, saying that “Homeowners across the valley will begin receiving their 2011 property valuations in the mail. Here in Arizona, valuations lag nearly 18 months, meaning the value you receive now reflects what a home was worth back in 2008.” The piece found that “values are down all across the state, in some places by more than 25%.”
