Arizona Real Estate Market Trends & Analysis

The Arizona real estate market was subjected to a great deal of volatility in as little as one decade’s time. Few states, for that matter, saw a more dramatic swing in their respective real estate markets than Arizona bore witness to in 2012. The state was hit hard during the Great Recession, perhaps harder than most, but few could have bounced back with the same speed and efficiency witnessed in Arizona.

Thanks, in large part, to more employment opportunities, corporate expansion, increased housing inventory, and wage growth, the Arizona real estate market is now firing on all cylinders. In the event Arizona’s latest new building initiative is able to satiate demand, there’s no reason to think the Arizona real estate market won’t thrive for the foreseeable future.

Arizona Real Estate Fees & Regulations

Real Estate

Closing Conducted by: Title Companies, Title Agents
Conveyance: Warranty Deed

Foreclosure Procedure

Primary Foreclosure Method: Non-Judicial
Process Period: 3 - 4 months
Notice of Sale: Trustee
Redemption Period: Up to 6 Months

Taxes

Income Tax: 2.59% - 4.54%
Corporate Tax: 6.968%
Sales Tax: 5.60%
Estate Tax: No
Inheritance Tax: No
Median Property Tax: 0.72%
Property Taxes by County: http://www.tax-rates.org/arizona/property-tax#Counties

Average Transactional Costs

Closing Cost: $2,425
Transfer Fee: Deed $2 per deed; Flat fee
Origination Fee: $1,810.00

Overview

  • Median Home Value: $254,600
  • 1-Year Appreciation Rate: +5.3%
  • Median Home Value (1-Year Forecast): +2.1%
  • Median Rent Price: $1,550
  • Price-To-Rent Ratio: 13.68
  • Average Days On Market: 61
  • Percent With Negative Equity: 8.0%
  • Unemployment Rate: 4.9% (latest estimate by the Bureau Of Labor Statistics)
  • Population: 7,171,646 (latest estimate by the U.S. Census Bureau)
  • Median Household Income: $53,510 (latest estimate by the U.S. Census Bureau)
  • Percentage Of Vacant Homes: 16.19%
  • Foreclosure Rate: 1 in every 4519

Arizona Foreclosure Trends & Statistics

Tax Lien Investing

  • Tax Lien or Deed: Tax Lien state
  • Interest Rate: 16%
  • Redemption Period: 3 years
Below you will find a list of online auctions in the state of Arizona. Most counties in Arizona conduct their tax lien sales in the month of April. Arizona offers great opportunities for online tax lien investing.