MLS Listings for Bank Owned Homes for Foreclosures in Ahwatukee, Chandler, Gilbert, Maricopa, Mesa, Queen Creek, San Tan Valley, Scottsdale, and Tempe available here.

Bank Owned Homes in the East Valley of Phoenix, Arizona have some of the best deals on the market.

Bank Owned Homes, are also known as, Lender Owned Homes, REO Homes, and Foreclosed Homes.  They are properties that went through the foreclosure process and are now owned by their lender. They are usually priced below market value to sell quickly and in many cases, have been made "move-in ready" before they are listed. Response time on an offer is usually 3-4 days verses a couple months on a Short Sale listing.

It is important to have a good Realtor, when buying Bank Owned properties, because it is a different process and you are buying "As-Is". There is still an inspection period but generally speaking, the bank will not pay for repairs.

Active MLS Listings for  East Valley Bank Owned Homes