The Foreclosure Crisis: 10 Years Later

The Foreclosure Crisis: 10 Years Later | Simplifying The Market

CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.

With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.

Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,

“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that usually leads to homeownership.”

Since the peak, foreclosures have been steadily on the decline by nearly 100,000 per year all the way through the end of 2016, as seen in the chart below.

The Foreclosure Crisis: 10 Years Later | Simplifying The Market

If this trend continues, the country will be back to 2005 levels by the end of 2017.

Underwater and Need to Move?

What should you do if you’re still underwater on your mortgage and you need to sell?   Even in today’s market, millions of homeowners across the country owe more on their mortgages than what their homes would actually sell for.  The Motley Fool  published some great tips for what to do with their article Underwater on Your Mortgage? Do This Now.  If none of these solutions work for you, check out my information and FAQs about selling your property with a short sale.

Bottom Line

As the economy continues to improve, and employment numbers increase, the number of completed foreclosures should continue to decrease.  Give me a call to discuss the current real estate market.  I’m happy to answer any questions – J.P. Cook – 602-320-4253.

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36420 N 105th Place Scottsdale, AZ 85262

$6,500,000
5 Beds
5.5 Baths
6,000 SqFt
Status Active
MLS # 6811255
Property Type Single Family Residence
Price Type --
**Luxurious Contemporary New Build in Mirabel with Stunning Views** Currently under construction on one of Mirabel's most coveted lots, this contemporary masterpiece offers breathtaking fairway, mountain, and distant city light views. With nearly 6,000 sq. ft. of living space, this home is designed to blend modern elegance with luxurious comfort—and there's still time to customize your finishes to suit your personal style. The thoughtfully designed floor plan includes four ensuite bedrooms on the main level providing privacy and convenience, while the second-level guest suite and bonus room offer unparalleled views of the entire valley, nearly 360 degrees of desert beauty. The heart of the home is the spacious great room seamlessly connected to the chef's chef's kitchen**, creating the perfect space for entertaining or relaxing. The **primary suite** is a private sanctuary, featuring an exquisite spa-like bath, an oversized walk-in closet, and direct access to the **resort-style backyard**. Designed for indoor/outdoor living, this home invites you to enjoy the Arizona lifestyle to the fullest. Imagine hosting gatherings in your luxurious backyard oasis or simply unwinding while taking in the serene views. This is a rare opportunity to own a bespoke home in the prestigious **Mirabel Club**. DISCOVER how you can elevate your lifestyle in one of the most sought-after communities in Arizona.

5850 E Glen Drive Paradise Valley, AZ 85253

$6,500,000
4 Beds
5.5 Baths
8,100 SqFt
Status Active
MLS # 6746313
Property Type Single Family Residence
Price Type --
This extraordinary 8.75-acre property, designed by renowned architect The Construction Zone, is perched at the pinnacle of Mummy Mountain, offering an unparalleled living experience. Plans are currently in the approval process, and this remarkable estate is being offered prior to breaking ground. Buyer can hire The Construction Zone to build or hire their own builder. As you ascend the gated, private drive, you'll be greeted by jaw-dropping, panoramic views that stretch as far as the eye can see. The property boasts spectacular vistas of Camelback Mountain, and Downtown Phoenix, all framed by a breathtaking city lights in every direction. Savor majestic sunsets from the comfort of your luxurious backyard. Accessible from the south side of Mummy Mountain, the approach begins at Lincoln Drive. Head north on 60th Street and follow the path to the gate at Upper Glen Drive. From there, a short walk up the private road brings you to this unique and magnificent parcel. Don't miss this rare opportunity to own a piece of paradise in one of the most coveted locations in the Valley. Land with exceptional views is becoming scarce on the south side of Mummy Mountain in Paradise Valley. Very private and an incredible opportunity!

10220 N 66th Street Paradise Valley, AZ 85253

$6,500,000 - 6Br/6Ba -  for Sale in Gold Dust Estates, Paradise Valley
New
$6,500,000
6 Beds
6 Baths
6,843 SqFt
Status Active
MLS # 6818982
Property Type Single Family Residence
Price Type --
Designed and built by UR Development's in-house team of architects and builders, this exceptional residence embodies luxury, tranquility, and modern sophistication. Only ONE WEEK away from completion— thisdream home is almost ready! Spanning 6,792 sq. ft. on 0.80 acres, this estate offers 6 bedrooms, 6.5 baths, a 4-car garage, and ample guest parking. The expansive great room and kitchen open seamlessly to a covered patio, resort-style pool, and outdoor BBQ. The master suite and secondary bedrooms feature private patios framed by stately travertine columns, offering both seclusion and a seamless connection to the home's main living spaces. This is Paradise Valley living at its finest.

6229 E Gold Dust Avenue Paradise Valley, AZ 85253

$6,500,000
5 Beds
6.5 Baths
6,256 SqFt
Status Active
MLS # 6795352
Property Type Single Family Residence
Price Type --
Stunning single level home first time to re-sale market! This 5 bedroom, 6.5 bath home defines an active entertaining lifestyle , both inside & out. The private, professionally designed North/South backyard boasts mountain views, a sparkling pool & spa, outdoor kitchen, with 3 cooking appliances, 2 fridges, 3 large seating areas, fire table, fire features, bar, pickleball , basketball , Bocci Ball & pool bath. C4 audio, $50,000 system inside and out, security system. Open floor concept design living, hardwood large plank oak flooring, beautiful lighting fixtures. Living Room opens to outdoor patios .Dream kitchen with top of the line kitchen appliances. Quartz countertops, three dishwashers . Miele built in coffee maker, Subzero fridge, Wolf gas 6 burner stove. Attached Casita wing has with outside entrance a separate living room with kitchen, 2 dishwashers, two fridges and ice maker, large TV, fireplace that opens to outdoor backyard entertaining and pool. Master bedroom, let's talk 2 custom closets for your designer purses and shoes. Stand alone bath tub and separate shower, dual sinks. Exquisite tile. Office has built in bookshelves. One bedroom, has 4 built in bunkbeds for stay overs! . Game Room, Gym has special commercial flooring. Garage, epoxy floor. A must see home for the most discriminating buyer. Office and gym. Gym could be 6th bedroom.

4880 E Lone Mountain Road Cave Creek, AZ 85331

$6,500,000
5 Beds
5.5 Baths
8,682 SqFt
Status Active
MLS # 6786462
Property Type Single Family Residence
Price Type --
Desert Contemporary Masterpiece in Seven Sisters Estates Nestled in the gated enclave of Seven Sisters Estates, this new construction is perched high in the Cave Creek hills, offering an unparalleled private sanctuary. Surrounded by lush Sonoran Desert and commanding views of the Valley, sunsets, and sparkling city lights, this 5-bedroom, 7-car garage estate redefines desert luxury living, with the main living spaces thoughtfully designed on one level. Step into a world of elegance with a soaring great room, a chef's kitchen, and a dining area that opens seamlessly to a 270-degree view resort patio, perfect for entertaining or soaking in the breathtaking surroundings. The primary suite is a private retreat featuring a spa-inspired bath, a gym with steam room, and captivating views. Additional spaces include a dedicated office, an entertainer's bar, a hidden catering kitchen, and a guest wing with three en suite bedrooms. The lower level offers even more for the ultimate lifestyle, with a sports-style bar, a wine room, billiards area, and a game room. The fifth bedroom is versatile and can transform into a home theater. The 7-car garage, equipped to accommodate lifts, and a sleek elevator add to the home's thoughtful design. A serene interior courtyard is perfect for pets, morning meditation, or intimate evenings by the fire. The exterior's striking stone and stucco blend harmoniously with the home's streamlined modern lines, while walls of glass bring the desert's beauty indoors. The interior palette, curated by renowned Renee Christina Interior Design, features neutral tones, oak flooring, exquisite stone accents, designer lighting, luxury WOLF/SUBZERO appliances, and bespoke cabinetry. This exclusive property is the first of five custom homes by Diamond West in the coveted Seven Sisters Estates. Each home is situated on a 4+ acre site amidst pristine desert flora, stunning rock outcroppings, and iconic landmarks such as Elephant Butte, the Seven Sisters, and views extending to Camelback Mountain and the McDowell range.

25&55 Cibola Drive Sedona, AZ 86336

$6,500,000
6 Beds
7 Baths
8,988 SqFt
Status Active
MLS # 6751848
Property Type Single Family Residence
Price Type --
Welcome to ''La Aguilera'' -the epitome of luxury, perched high in the prestigious Cibola Hills of Uptown Sedona. This estate borders the National Forest and commands jaw-dropping, panoramic views of Sedona's awe-inspiring red rocks. Two exceptional homes, offered together, encompass approximately 9,000 square feet of serene, private living spaces, designed for the discerning buyer who values both elegance and comfort. With amenities like a sparkling pool, a sophisticated Wine Spectator Featured wine cellar, an elevator, and multiple decks and patios, ''La Aguilera'' offers a lifestyle that embraces the natural beauty of Sedona year-round. 25 Cibola: This 5,411-square-foot residence is an entertainer's dream, offering breathtaking red rock views to the North and the Mogollon Rim to the E The grand atrium's artistic double entry doors set the tone for a home that blends rustic Southwest charm with modern luxury. The lower level features a guest ensuite bedroom, a spacious gym or guest suite with a wet bar and fridge, and access to the convertible indoor/outdoor pool. Upstairs, the light-filled Great Room boasts pitched wood ceilings with exposed trusses, wood floors, a desert-toned brick fireplace, and an office nook. The guest bath offers convenient access to the pool, while the HUGE East viewing deck is the perfect spot for afternoon cocktails. The Primary Bedroom, with its granite dual vanities, tiled waterfall walk-in shower, and jetted tub, is a retreat in every sense of the word. The chef's kitchen is a culinary masterpiece, featuring granite counters, custom wood cabinets, stainless steel KitchenAid appliances, a breakfast bar, and a large walk-in pantry with additional prep space. Host grand gatherings in the massive 1,575-square-foot Party Room, complete with 12-foot ceilings, built-in speakers, a professional bar, and a stone fireplace. Whether it's casual dining, playing the Grand Piano, or a game of pool, this space accommodates it all with style. When the weather turns, move the party indoors to the HUGE indoor commercial grill, or relax in the intimate private patio. The convertible indoor/outdoor pool is a highlight of this home, featuring a mesmerizing mosaic tile and pebbled lighted water wall. The elevated spa offers a soothing escape, while the pool itself provides a perfect place to swim in comfort, no matter the weather. With additional amenities like owned solar, a security alarm system, multiple HVAC zones, an elevator, remote shades, stained glass accents, a Home Hydrant Talco Fire Safety System, and so much more, La Aguilera is the ultimate in luxury living. World-class hiking & biking trails are just steps away, offering an unparalleled Sedona lifestyle. For the buyer who demands the best, this estate is your gateway to the extraordinary. 55 Cibola: This magnificent 3,577-square-foot home is a showcase of refined craftsmanship. Custom hardwood floors, soaring ceilings, and expansive windows and sliders perfectly frame the iconic red rock vistas. The Great Room, anchored by a stunning smoky brick beehive fireplace with an Alligator Juniper mantle, invites you to relax and admire the beauty outside. Step onto the massive main deck for an even closer connection to nature, or ascend to the covered SKY deck for 360-degree views of Sedona's most iconic formations. Whether it's the clarity of the day or the brilliance of the night sky, every moment here is an experience. The Primary Bedroom Suite is a sanctuary unto itself, featuring a spacious walk-in closet, dual vanities, a separate tub and shower, and a custom red rock mural. The exterior deck offers a private hot tubperfect for unwinding while soaking in the views. A guest bath with dual vertical shower panels, each boasting sixteen heads, ensures every visitor enjoys a spa-like experience. The lower level includes a bonus living room/office, a 12x12 storage room, laundry, and garage access. Prepare to be wowed as you lead your guests to one of the most unique wine cellars you'll ever encounter. Greeted by a majestic water feature, planted grapevines, and wrought iron gates, this historic, high-tech, award-winning wine cellar is a marvel. Native red rock walls, inventory security sensors, and stained glass accents create an atmosphere of sophistication. Whether you're entertaining indoors or savoring the sunset from the covered outdoor sitting area, this space is designed to impress.

42820 N Fleming Springs Road Cave Creek, AZ 85331

$6,500,000
6 Beds
7 Baths
10,159 SqFt
Status Active
MLS # 6771775
Property Type Single Family Residence
Price Type --
Enjoy unparalleled views from this gated 43 acre estate situated atop your own private mountain and surrounded by thousands of dazzling saguaros. Lush grounds with florals cascading off stone pillars on this 10,159 sq. ft. iconic European masterpiece with exquisite entertaining space for your exceptional lifestyle. Unlike any other estate in the greater valley, this North Cave Creek masterpiece will leave you in awe with its one-of-a kind beauty, quality craftsmanship and expansive acreage. If you are looking for privacy and versatility, this property has countless options including horse privileges. The interior showcases 6 beds, 7.5 baths, office/den, chef's kitchen, bonus room, family room, private theater, wine cellar and 5 car garage. Multiple dining areas offer numerous options to.. family & guests in residence. Generous master suite with private balcony, guest wing has 3 ensuites plus well-appointed main floor study. Take the elevator to lower lever which showcases multiple rooms plus game room, wine cellar, private theater and fitness studio. The paved nature trail is perfect for meditation and inspiration. Gardener's delight with over 20 fruits trees. Unique potential w/access to two 10 acre parcels. Fully fenced backyard with romantic stone walkways that meander throughout the property. This home is being sold with lot parcel 202-18-013-C, E & G in the purchase price. Taxes noted are only for Parcel 202-18-013E.

9926 E Kemper Way Scottsdale, AZ 85255

$6,500,000 - 4Br/5Ba -  for Sale in Silverleaf At Dc Ranch, Scottsdale
Open House
$6,500,000
4 Beds
5 Baths
6,649 SqFt
Status Active
MLS # 6704911
Property Type Single Family Residence
Price Type --
Situated at the top of the cul de sac and surrounded by lush park like landscaping featuring this beautiful home features 4 bedrooms and 5 bathrooms. The ideal layout for entertaining, with soaring 20 foot+ ceilings, a large great room open to the gourmet kitchen featuring both a breakfast room and formal dining plus a butlers pantry. The main level owners suite features a beautiful fireplace, and a large bathroom with his and hers vanities plus a walk in closet with custom cabinetry. Upstairs features 2 bedrooms, a game room and movie room plus fabulous oversized patio with beautiful mountain and sunset views. The guest house has a fabulous private entry, beautiful kitchen and living room plus a large guest bedroom, office and a full bath and laundry room. MOVE IN READY. Plus a Brand new laundry/craft room with amazing storage and island. Step outside to a beautiful outdoor patio with large fireplace and outdoor kitchen. The sparkling pool with spa and water feature add beauty and the hidden wall of fire behind the pool dazzle for evening entertaining. Plus a splash pad for days the kids or pups want to Cool off and play. The park like back yard offers several patios with private water features and more incredible views.

11271 E Cinder Cone Trail Scottsdale, AZ 85262

$6,499,900
5 Beds
7 Baths
7,703 SqFt
Status Active
MLS # 6798943
Property Type Single Family Residence
Price Type --
A hidden gem in the gated desert enclave of the Sonoran Reserve. This resort like contemporary home combines linear sophistication with flowing waves, allowing it to blend into the desert as its occupants blend into their home. Situated on 3.6 acres with panoramic sunset views, it delivers a soul-quieting peace of each day gently melting into the next. The main house is 6,608/sf and the detached guest house is 1,095/sf with a living room, bedroom and spa-like bathroom. Design details include Multiple indoor/outdoor living areas with a motorized, pocket door from Great room to patio, architecturally integrated use of glass and steel components, stone flooring, hand troweled textured walls, granite slab counters, Chef's kitchen with Wolf and Sub-Zero appliances, hand crafted cabinetry.... by Crystal, custom contemporary lighting, spacious patios, sparkling pool and spa and an oversized 4-car garage with storage.

5455 W Ray Road Chandler, AZ 85226

$6,499,650
7 Beds
11 Baths
13,749 SqFt
Status Active
MLS # 6667550
Property Type Single Family Residence
Price Type --
***Ignore Days On Market***Welcome to the Estate on Ray, a complete masterpiece nestled on over five acres in the heart of Chandler, Arizona's vibrant community. This stunning property offers the perfect blend of modern luxury and suburban charm, providing an exceptional living experience for discerning buyers. This one owner home, has been thoughtfully designed and well cared for offering future residents true luxury resort style living. As you enter the home under the porte-cochère, guests are greeted with massive solid 13' maple double doors, 24' soaring ceilings, a grand sweeping staircase, wall of glass and an abundance of natural light, creating an inviting atmosphere that exudes elegance. Retreat to the expansive master suite, featuring a sitting area, a fireplace, an office with wet bar and 2nd fireplace, a spa-inspired ensuite bath with a centerpiece skylight, dual vanities, twin water closets, a soaking tub, stackable washer and dryer, two walk-in closets, french doors to a private patio, private gym, spa and a dry sauna providing a sanctuary to escape the hustle and bustle of daily life. The recently updated kitchen features gas cooking with Wolf, Viking and Subzero stainless steel appliances featuring a vegetable fridge and bread warmer, two tone cabinetry including crafted wood arches over the large island, spacious walk in pantry and a beautiful view to the backyard oasis. Upstairs, each mini suite includes a fireplace, walk out patio, ensuite baths with soaking jetted tubs and shower. The list of features and benefits are long including imported Crema Marfil Marble flooring, over 2,000 s.f. of garage space, over 3,000 s.f. of covered patios, 8 fireplaces, 11 bathrooms, digital wifi heating and cooling (15 seer), two private casitas with separate entrances, walk in cooler, elevator for the 3 levels, a basement with a full bar, game room and a covered lower patio. The property features a remodeled pool, spa, swim up bar, sunken cabana, detached restroom and shower, spoiling the guests with a resort style experience. The property includes a detached storage shop for equipment and a climate controlled dog house. There is space enough to build a future pickleball court and a helipad! The property includes parking for 8 vehicles including a drive through garage. Additionally, the land is irrigated with an onsite well providing reusable water for the 2 lakes and grass areas, recycled back down to the well. The property could be split to accommodate two additional residences to be constructed on the north side of the lot. Additionally, 1.5 acres divided into two lots to the south of the lot may be available to the new owner as well. This home must be viewed in person to truly appreciate all that it offers.

6800 E Caballo Drive Paradise Valley, AZ 85253

$6,499,000 - 5Br/7Ba -  for Sale in Camelback Country Club Estates, Paradise Valley
Open House
$6,499,000
5 Beds
7 Baths
8,866 SqFt
Status Active
MLS # 6802093
Property Type Single Family Residence
Price Type --
Tucked within the coveted Camelback Country Club community, this exquisite residence offers a rare blend of serene luxury and exceptional convenience, complemented by a fully appointed 1,103-square-foot guest house. The neighborhood, known for its meandering streets, scenic walking paths, and bike-friendly lanes, provides an ideal environment for those who appreciate both natural beauty and an active lifestyle, all just minutes away from the vibrant heart of Paradise Valley. As a bonus, the upstairs unveils a chic lofted retreat, offering versatile guest spaces, a game room, and ensuite bedrooms that elevate this home to next-level fabulousness without ever compromising its airy elegance. The gourmet kitchen and family room sparkle with updated flairthink wet bar, breakfast bar, and a brand-new 800-bottle wine room that's begging for your next toast. The split owner's retreat is a light-filled sanctuary, boasting a spa bath and dressing areas that feel like a luxury resort. Hosting is a dream with a full guest suite and a state-of-the-art home theater on the main level, plus a fully appointed guest house that's so inviting, your visitors might never leave! Outside, the sprawling backyard is a sun-soaked oasiscovered patios, a sparkling pool and spa, and a BBQ area framed by mature trees and lush grounds scream endless summer vibes. This isn't just a homeit's a bright, uplifting lifestyle waiting to be claimed. At 6800 E Caballo Drive, every day feels like a celebration of light and space, all wrapped in Paradise Valley's most coveted zip code.

7508 E Laredo Lane Scottsdale, AZ 85250

$6,495,900
4 Beds
4.5 Baths
4,047 SqFt
Status Active
MLS # 6817801
Property Type Single Family Residence
Price Type --
Welcome to your dream luxury residence, where modern elegance meets effortless indoor-outdoor living. This newly constructed home is a sanctuary of sophistication, designed to blend the beauty of nature with exquisite architectural detail. Boasting 3 spacious bedrooms, 3.5 impeccably designed bathrooms, a versatile den, and a casita, every inch of this home is crafted for comfort, style, and seamless open-air living. Step through a private enclosed courtyard and be greeted by stunning pivot doors that dissolve the boundaries between inside and out. Expansive sliding glass doors open effortlessly to multiple outdoor spaces, inviting in natural light and a refreshing connection to the outdoors. The serene courtyard and lush backyard oasis feature a resort-style pool and a fully equipped cooking ramada, perfect for al fresco dining and entertaining with sneak peek views of Camelback Mountain under the Arizona sky. Inside, marble-encased walkways lead you through the grandeur within. The heart of the home is the great room complete with white oak vaulted ceilings and a custom-designed chef's kitchen, a masterpiece of form and function. Outfitted with state-of-the-art appliances, sleek European cabinetry, and a striking waterfall-edge island, it invites culinary creativity while serving as a stunning focal point. Adjacent, the elegant dining room is anchored by a dramatic climate-controlled wine wall, showcasing your finest vintages in a statement-worthy display. The primary suite is a true private retreat, featuring sliding glass doors that open directly to the tranquil backyard. The spa-inspired ensuite exudes luxury with marble finishes, a walk-in shower, freestanding soaking tub, and an expansive custom walk-in closet. Each additional bedroom boasts its own en-suite bath, ensuring privacy and comfort for family and guests alike. The casita, with its private entrance, offers endless possibilitiesa sophisticated guest retreat or a private office. This architectural gem seamlessly blends cutting-edge design with effortless livability, creating a home that is as breathtaking as it is functional. With every detail meticulously curated for luxury, innovation, and tranquility, this residence is more than a homeit's an elevated way of living. Welcome Home.

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