Last Update on Tucson foreclosures

Tucson Foreclosure Listings

There are 7,770 foreclosure listings with a total of 5,736 Tucson bank foreclosures. Additionally, there are 1,609 houses on auction. Foreclosure prices range from $19,900 for a two-bed, one-bath house, to $994,565 for a dwelling with 6 bathrooms. Property developers looking for a place in the sun could find a haven featured in the foreclosure listings in Tucson.

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Bank Foreclosures in Tucson

Tucson is another city that offers a great quality of life. There are numerous national and state parks and forests located in this part of Arizona. The city embraces a relaxed lifestyle, good climate, and abundant sunshine. Families and retirees can make Tucson a beautiful home to live in. There are 7,770 foreclosure homes in Tucson, and the average price of these foreclosed homes is $101 per square foot. This is favorable for those families who want to own majestic abodes at affordable rates or those real estate investors who are seeking for residences that are located in a beautiful city like Tucson. The foreclosures sold at auctions can also be very affordable for those who want to call Tucson their permanent home.

Tucson is a major city in the Arizona Sun Corridor. It has a typical desert climate with 80% sunshine and temperatures ranging from 50F in winter to +90F in the summer. Its major industries include construction, education and tourism.

City planners and the business community are currently undertaking a major effort to rejuvenate the city's downtown area. One of the major economic activities has been the development of the University of Arizona, which is the second largest employer in the city. Tourism is another major industry generating $2 billion a year from 3.5 million tourists visiting the numerous resorts, hotels and attractions around Tucson. There are another 150 companies involved in manufacturing optics and optoelectronic systems, which has earned Tucson the nickname Optics Valley.

The city has a population of 520,000 with a median age of 32 years. Almost half are married, of which less than three-fourths are without children. The population consists mainly of middle to lower income families who enjoy a relaxed lifestyle.

The most popular neighborhoods include Rita Ranch, Sam Hughes, Starr Pass, Civano, and Midvale Park, with prices ranging from $87, 269 to $356,485. Neighborhoods with good investment potential include Western Hills, which has seen a +26.2% increase average week-on-week price appreciation, Littletown, Mountain View, Campbell Grant and The Villas At Hacienda Del Sol.

For the period up to 23 March 2011, the average listing price of houses for sale was $265,513, which amounts to an increase of 0.4% compared to the previous week. The average price per square foot was $92, a decrease of almost 11% compared to the previous year. On the other hand, the median value of owner-occupied units was $96,300. The median sales price from December 2010 to February 2011 was $125, 950 showing a decrease of 10% from the previous year.