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03/21/10
Foreclosures take toll on central areas
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:34 pm

The Valley’s foreclosure wave swept inward in 2009, moving from younger communities at its outer edge toward older, wealthier and more centrally located areas.

The hardest-hit community by far was in west-central Phoenix, where foreclosures in two ZIP codes, 85017 and 85019, accounted for at least 72 percent of all home-resale transactions - about 1,070 sales out of 1,315, according to the latest Valley home-values data from The Information Market. The previous year, foreclosures accounted for about 60 percent of the area’s sales.  more…



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