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If you are on the lookout for a real estate investment or a first time home, Arizona foreclosures are the answer to your prayers. Buying a foreclosure requires a great deal of preparation and research, but it can be extremely fruitful. There are many benefits in purchasing foreclosed properties, especially Arizona foreclosures.Arizona has plenty of sunshine and a strong economic base. It has always occupied the top rung in the list of best states of America to live in. Residents of California who are tired of the rat race relocate to Arizona at the first opportunity. East Coasters love Arizona for its vast open spaces and fresh air.Arizona is located in South Western USA. The capital and largest city is Phoenix. It is noted for its desert climate, hot summers and mild winters. 15% of the area is privately owned, the rest is public trust and forest land. It is famous for the Grand Canyon which is a colorful step sided gorge craved by the Colorado River in Northern Arizona. It is one of the seven natural wonders of the world and a grand tourist attraction.The 2006 GDP was $232 billion making it equivalent to the 61st largest economy in the world bigger than countries like Ireland and New Zealand. Arizonas economy depended on the five Cs since early times-Copper, Cattle, Cotton, Climate (Tourism) and Citrus. It still accounts for two thirds of the nations copper output.There are three Public Universities in Arizona. In the sporting arena, due to its several golf courses it hosts several legs of the PGA tour of golfing. With three universities and several colleges, college sports is also popular. It is also a site popular for Major League Baseball spring training and also the Cactus League. Phoenix Arts Museum has a remarkable collection of works of Art from around the world. Arizona is also a popular center for Native American Art. Music and Hollywood also has a heavy presence in the state.Those looking for foreclosed property will do well by looking into Arizona Foreclosures for many reasons. A standard Arizona auction will specify the closing date, thus reducing the uncertainty involved in foreclosure transactions. Also Arizona has an important piece of legislation that home owners cannot re-occupy properties that have been foreclosed. Due to the financial downturn, more and more Arizona foreclosures are available at steep discounts even touching 50% of home value.It is always wise to proceed carefully while investing in Arizona Foreclosures. Take the help of a real estate agent or lawyer so that you negotiate a good deal. They will guide you through local laws. Arizona Foreclosures are a great opportunity for buyers who wish to buy a home for themselves or simply want to make a profit by repairing and reselling.
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