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You may think that affluent homeowners that live in upscale areas of town are immune to the effects of the economic downturn, but you would be wrong. Even in Scottsdale, short sales are a growing trend. If you are lagging on your mortgage payments and see no way out, an experienced certified short sale Arizona real estate agent can help you get back above water.

When job loss is at a nearly all time high, people of every background are affected. Even those who once believed that money would never be a worry are experiencing problems. If you find that you owe more on your home than it is worth, and you just cannot meet your monthly financial obligations, selling your home may be the only way out. A short sale in Scottsdale means that you may be able to avoid foreclosure. Foreclosure is the least desirable option, as it completely destroys your credit rating.

If you are considering a short sale, you may wonder just how it works. You will hear bad things about the process, but most of that is due to the fact that it can be a lengthy undertaking. This is why you want to locate a knowledgeable real estate agent that knows the process thoroughly so that it will go as quickly and seamlessly as possible.

The first thing you must do if you decide to go this route is qualify. If you are unable to pay your mortgage because of a hardship such as divorce, loss of your job, a death or unexpected medical bills, you may be considered by your lender. Other things that play in to the equation are whether your home is worth less than you owe, and if you are currently in or near defaulting on your home. An Arizona realtor can help you sort through the red tape, so that you have a good idea of where you stand.

If you do qualify, it is the agents job to find a qualified buyer for your home. This is where the hold up usually begins – buyers want the home for a song, and lenders are not willing to sell it for nothing. If you hire a reputable agent, they will find buyers for your home that make reasonable offers. Once a buyer makes an offer that you like, it is then up to the lender to decide if they will accept the purchase offer.

While a short sale is probably not the easiest process, it should definitely be considered if you are on the verge of losing your home or going into foreclosure. Foreclosure is an ugly beast that you do not want to face if there are any other options available at all. Do you live in Scottsdale and find yourself sinking, unable to rise above the water? Speak with a reliable and experienced Arizona realtor today – it may be the best decision you have ever made!

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

If you live in the Phoenix Arizona area and have fallen on hard times, you may find yourself in a situation where you must sell your home. A short sale is a solution for many who meet the qualifications. You will need a reputable realtor with experience in short sales to help you negotiate the process. They will also do their best to quickly find a buyer for your home, so that you can get out from under the financial stress.

While the process can get lengthy and often does, it will go much more smoothly if you choose an experienced certified in short sales real estate agent that thoroughly understands the process. It is their job to find a buyer for your home, and a reliable agent will handle all of the details they possibly can for you. With the declining economy and tremendous job loss currently being experienced, many homeowners now find that they simply cannot pay their mortgage any longer. If you live in Phoenix and this describes you, learn more about the short sale process.

How does the process work? Here is a basic explanation:

1. In order to choose a short sale, you must qualify. Qualifying may include proving that the market value of your home has dropped. In addition, some lenders will consider this option if your mortgage is in or near default. You should also be ready to prove that you have fallen on hard times, and this does not mean spending your money foolishly. An example of a hardship would be: Loss of employment, death, divorce, unexpected medical bills, bankruptcy
2. You, as the seller, sign a listing agreement with a realtor who is experienced in the short sale process. The agent should then attempt to find a buyer who will make an offer for less than the balance of the mortgage.
3. As the seller, you will be responsible for accepting the offer of the buyer.
4. It is then up to your lender to decide if they are willing to accept the buyers offer.
5. The lender either accepts or declines the offer. If accepted, the lender will release the lien and you, as the seller, will give the buyer the deed.

If you do consider a short sale for your Phoenix home, be aware that your credit will be affected, but it will not be completely ruined as it would with foreclosure. With a short sale, you can generally purchase another home within 18 months to two years, whereas a foreclosure makes it nearly impossible to buy another home for about 5 to 7 years. Foreclosure is also embarrassing to many people, so taking this route helps you avoid the stigma.

Does a short sale sound like a good solution for your problems? Contact a reputable and experienced Phoenix realtor, who can explain the process in detail and help you make an informed decision.

Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

In Glendale Arizona, just as with the rest of the nation, people are losing their homes. Jobs are scarce, and unemployment rates are soaring. If you find yourself unable to pay your mortgage, a qualified realtor can help you make some wise decisions as to whether a short sale may benefit you. They can also help negotiate the sometimes tricky details, so that perhaps you can avoid foreclosure.

For buyers, the housing market is paradise! Home prices are at their lowest in years, which means you can get a real bargain on a home. Short sales in Glendale Arizona benefit both sellers and buyers, although you may sometimes hear otherwise. However you look at it, the buyer is going to get a deal. For the seller, while your credit won’t be completely left intact, it may not be completely ruined. In many instances, deciding on a short sale means that you may purchase another home in as little as two years. With foreclosure, the time period is usually 5 to 7 years!

A short sale is usually negotiated between the seller, their lender and the sellers agent. There are quite a few details to be worked through and sorted out, and the process can get pretty lengthy. This is where an experienced Certified Arizona realtor comes in. They have been through all of this before, and can help make the process less complicated and lengthy. Think of them as a ‘negotiator’ on your behalf.

Another benefit to the buyer is that they offer a price for the home. Of course, anything that is ridiculously low would be refused by the lender, but the buyer can often get a home at 30 – 40% lower than the normal asking price would be. This means that if you could not afford a $300,000 home previously, you may now be able to get a home in that price range for around $200,000. Quite a substantial savings!

In Glendale, whether you are a buyer or seller, you want to know all you can about the short sale process. This helps avoid much confusion and anguish. Many times, people get frustrated or lose patience with the process. If you are a seller who can no longer pay your mortgage, or a buyer looking for your dream home, contact a reputable Certified Distress Property Arizona real estate agent today. It will help make the entire process one you can endure!
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties