The 2017 Arizona online tax lien auctions are opening up last week and this week. I've downloaded the lists for Yavapai and Coconino counties and did some initial work of adding the property types to the lien lists so I can better filter the liens I want to pursue.
The auctions stay open for a few weeks so the investors can perform due diligence before placing their bids.
The number of liens available is similar to last year in both counties. Many liens will be withdrawn from the auction as the owners pay them off at the last minute, so the final count of the liens available will be smaller than the numbers below.
Interesting that Coconino has a new type listed; "NON-PRIMARY/BANKOWNED/NOT IN OTHER CLASSES RESIDENTIAL". I'll have to investigate what that means. I can't imagine 124 bank owned homes where the bank has not paid the taxes. But then again, it does happen where the banks just let a property go from time-to-time.
I have own several properties that I acquired through tax auctions that were bank owned, one was owned by Fannie Mae. If these are bank owned they may pay off the taxes at the last minute. Be especially careful of ones in the group. I drove by a house yesterday that had a FMV of 115k and looked nice on the Google Street view. It turned out to be boarded up with a condemned sign on it. I would want to find a local person to drive by anything you wanted to bid on and send you pictures unless it was someone you knew and trusted to to just say yes or no to bidding on the property.
@John Underwood I've followed your posts since you joined BP a couple years ago. I've learned a lot about SC tax auctions through you. These property types in Coconino county in AZ are a new classification (to me anyway) this year. I, too, stress to new investors that you need to drive by or have a person drive by and check out a property that has a building before bidding. I have seen plenty of burned out homes in person that were fine in the Google street view. Google street views can be several years old.
Although I'm not an investor who flips or holds rentals, I think it's interesting that the county may now have a property type that explicitly identifies properties that are bank owned. That would make it easier for investors to identify those properties by searching the county records online. But until I talk with a county worker to find out exactly what the property type means, I won't make that definitive statement.
Apache county tax lien auction in AZ is also open. Just downloaded the list. Haven't snagged the property types yet, but I find it interesting that over 71% of the 8,700+ liens are multiple year liens. With a 3 year redemption period, that is a lot of liens closer to tax foreclosure than most other counties. Of course it could be a lot of low value vacant parcels too.
All of AZ will be bid down on the percentage of interest so you may find some great houses or residential structures and in bidding them down get the tax liens at a less than a 4% interest rate as the winning bidder. Keep in mind that if the interest rate gets bid down at the same amount by several at the same time, it will be random selection by the computer. Keep in mind that the lowest acceptance of interest will win the tax lien. You could do very well on some of the tax liens but with 3-4 days of the auction and then a clean up sale after that, the high interest rate tax liens will go very fast. They will be available approximately 3 weeks after the auction with a 50 dollar charge for the CD listing. It is a very competitive county but if you are quick on the draw you only need an hour to do well. Timing is everything when you are working with over the counter full interest rate tax liens. Good luck to you!
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