Scottsdale Brokerage Launches Free Online Search for Arizona Foreclosures

Unquestionably, the number of foreclosures in Arizona has reached an unprecedented high. The state has consistently ranked within the top 5 in terms of properties with foreclosure filings, according to RealtyTrac, a national database of foreclosure and bank-owned properties. For the month of October, RealtyTrac reported that Arizona's foreclosure rate had surpassed even California and Florida, coming in second behind Nevada. Still, potential buyers seeking the best value in bank-owned property are forced to pay subscription fees for the latest listings - something that a local online brokerage, ""Bank Owned Property AZ"":http://www.BankOwnedPropertyAZ.com, says it has now made obsolete.
The Scottsdale, Arizona firm was founded by multimillion-dollar sales producers Drew de Weerd and Leon Gavartin, and provides daily updates to bank- and lender-owned listings through its ""Web site"":http://www.BankOwnedPropertyAZ.com , giving any potential buyer or investor the opportunity to search Arizona’s REO inventory for free.
""We’re a one-stop shop,"" de Weerd said. ""We market the properties, find the buyers and hold their hands through the whole process. And since the banks are the ones paying for our services, our clients receive it free-of-charge. It’s a total win-win situation.""
Unlike other Web sites that only offer their own property listings, Bank Owned Property AZ provides instant access to all foreclosed, bank- and lender-owned property listings in Arizona, the company said. Every property is hand-picked, verified and qualified for the company’s online database, which currently features about 3,000 homes at an average discount of 10-30 percent of their existing market value, the company explained.
Bank Owned Property AZ says that another unique characteristic of its service is that potential buyers requesting additional property information, are put in direct contact with the professional real estate agents and brokers at Bank Owned Property AZ. The ""lead"" is not sold or funneled to other brokerages.