Post by jeffolie on Aug 26, 2007 12:15:19 GMT -6
“Undocumented immigrants are starting to leave Arizona because of the new employer-sanctions law. Adrian, a 34-year-old undocumented immigrant from Sonora, plans to move back to Mexico as soon as he can sell a 2-acre tract he owns in Tonopah.”
“‘Yes, we are desperate to leave the moment I sell my property,’ said Adrian, who rents a house in Goodyear.”
“Adrian has been calling his real-estate agent every day to see if there are any potential buyers for his property. But Guadalupe Sosa, the agent, said this is a bad time to be selling. Undocumented immigrants are putting their homes up for sale when there is already an abundance of houses on the market, adding to a glut.”
“In July, the Arizona Regional MLS listed 52,336 homes for sale in the Valley, up 17 percent from a year earlier.”
“Adrian said his sister also is selling her house with plans to return to Mexico. He knows other undocumented immigrants who are refinancing their houses and getting cash out so they can return right away rather than waiting for their houses to sell.”
“Sosa said, many immigrants are not buying homes because they are worried about losing their jobs under the law. That has made it even harder to sell homes in immigrant neighborhoods.”
“She pointed to three of her West Valley listings that are owned by illegal immigrants who want to leave Arizona. One was a brick four-bedroom selling for $167,000 in the historic district of Avondale. Another was a beige stucco house selling for $210,000 in a new subdivision in southwest Phoenix. One was a blue townhouse selling for $95,000 in west Phoenix.”
“‘A lot of people are selling because of the uncertainty,’ she said. ‘They have one or more family members who are undocumented, and without that extra money, they can’t make the mortgage.’”
thehousingbubbleblog.com/?p=3320
“‘Yes, we are desperate to leave the moment I sell my property,’ said Adrian, who rents a house in Goodyear.”
“Adrian has been calling his real-estate agent every day to see if there are any potential buyers for his property. But Guadalupe Sosa, the agent, said this is a bad time to be selling. Undocumented immigrants are putting their homes up for sale when there is already an abundance of houses on the market, adding to a glut.”
“In July, the Arizona Regional MLS listed 52,336 homes for sale in the Valley, up 17 percent from a year earlier.”
“Adrian said his sister also is selling her house with plans to return to Mexico. He knows other undocumented immigrants who are refinancing their houses and getting cash out so they can return right away rather than waiting for their houses to sell.”
“Sosa said, many immigrants are not buying homes because they are worried about losing their jobs under the law. That has made it even harder to sell homes in immigrant neighborhoods.”
“She pointed to three of her West Valley listings that are owned by illegal immigrants who want to leave Arizona. One was a brick four-bedroom selling for $167,000 in the historic district of Avondale. Another was a beige stucco house selling for $210,000 in a new subdivision in southwest Phoenix. One was a blue townhouse selling for $95,000 in west Phoenix.”
“‘A lot of people are selling because of the uncertainty,’ she said. ‘They have one or more family members who are undocumented, and without that extra money, they can’t make the mortgage.’”
thehousingbubbleblog.com/?p=3320