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If you are about to lose your home, it is not a pleasant business, but it can be made easier if you enlist the aid of a short sale realtor. It can be very hard on you and the entire family, the least you can do for yourself and everyone is to try and make the process go as smoothly as possible.
Benefits of a Short Sale
Instead of going through the agony and embarrassment of bankruptcy or foreclosure, a more dignified way of going about it is through a short sale. It means that the lender is willing to accept less than the total due amount.
Banks prefer to accept your money than the actual property, so everybody benefits. Your credit history will be saved, and you can avoid a lot of the emotional stress because the process is quite fast.
Not everybody can qualify for a short sale, but when possible, it is a convenient way to avoid foreclosure. If you want to find out if you are a good candidate for it, you will need a Certified Short Sale Realtor to go through your financial information and assist you in creating a strategy to attain whatever it is you are aiming for. Also, she will be the best person to tell you if what you are doing is in line with policies like the HAFA Program, Short Sale Phoenix, Short Sale Scottsdale (or whichever city it applies to) borrower protections or federal laws.
You may want to obtained the advice of an attorney and CPA depending on your situation, You should look for a good short sale realtor who is certified to help you through the whole process..
First of all, she can help you verify how much your property is worth. She can provide you with an estimate of the market value of your house. Remember a Certifed Short Sale Realtor, knows how to work the process with the banks, negotiate the contract and market the property to get to that point.
She is representing your best interests and will inevitably try to search for the best deal that can be had. It is a good idea to communicate with your realtor so that she will know exactly what you want and need. Through this, she can structure the deal to fit your best interests.
She will open you to more options. As an individual, you might not be aware of all your options when it comes to short sales- when it comes to availability, properties on the market, the usual market prices at the moment, and the opportunities you may not have known existed.
She will be able to negotiate for you with the lender. This is a difficult process because not all bank officers are authorized to accept discount. If you do it through the phone, you will be transferred to different departments and will be placed on hold most of the time. Having a Certified Short Sale realtor do this for you will allow you to avoid this long and frustrating process. When it comes to Short Sale, all banks insist on a Realtor handling the property. She will know how to get to the right person and be able to negotiate. A lot of persuasion is involved, but the basic principle is that she must be convinced that the lender can get the property back more quickly, and by doing so, cut his losses.
When you have contacted a short sale realtor, you will be ready to proceed with your short sale. You are not alone; in fact, this is becoming more and more common because more people are discovering the convenience of this strategy.

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

SALES Month over Month
Below are the stats supplied by Arizona Residential Multiple listing Service. As they come in, we have permission to send them out. This kind of information is so welcomed. Interesting that the bank owned property sales are only representing 38% of our market and I just have to think that short sales are going through the roof. Whatever it takes to get this market balanced. If you have real estate questions or needs please know I am a phone call or email away and would love to help you
Sales continue on a strong pace over the past three months. May sales of 9,077 represent a slight dip (2%) from April sales of 9,306. This trend follows a typical spring seasonal upswing pattern in sales activity. Nationally, sales, according to NAR’s most recent figures (April), show a gain of 1.52% year to date.
SALES Year over Year
Sales for May 2009 and May 2010 were virtually the same, a first for any month over the last
twelve. Last year the trend lowered in June after the spring upswing, only to remain flat through
the summer and take a plunge in November. The 2% dip in sales from April to May could be
reflective of this pattern repeating itself, but no other economic indicators signal that this April to May 2010 dip is the beginning of a downward trend.

NEW INVENTORY
New residential inventory declined from 13,871 in April to 11,717 new listings in May. The reduction in new listings added to the market since March represents is a healthy decline. Such a pattern affects the supply and demand ratio, which directly influences pricing. The downward trend may stay on course, or perhaps be affected by Sellers who will take advantage of the summer selling season to test the market.

TOTAL INVENTORY
As new inventory is declining, total residential inventory remains high with total residential inventory at the end of May at 41,326 units compared to 39,902 in May 2009. The total inventory trend remains relatively flat over the past twelve months, hovering below 40,000 twelve months ago to just above that level presently. Year over year it appears that total inventory for 2009-10 is stalled relative to 2008-09. However, the 2008-09 inventory had hit an unprecedented number close to 60,000, too high not to realize a sizable decline eventually.

LIST PRICES
The average list price in May was $220,900 which is a small (4%) but positive gain over the previous month. The median list price declined (slightly under 3%) from April to May to $136,000.The decline in the median price coupled with a rise in the average price indicates that there are more homes in the higher range that are making it to the market. Year over year the median list price remains fairly flat.

SALES PRICES
Average sales price remain virtually unchanged from April at $171,300. Median sales price for May however shows an increase over April from $127,500 to $130,000, an indicator that while additional higher end sales are coming to the market, they are not selling for as high a percentage of their list price as are the more moderately priced units. While not huge, it represents a 2% increase and continues a pattern of year over year price increases.

The ARMLS PENDING PRICE INDEX™
The ARMLS PPI™ predicts future average and median prices based on reports of pending sales
executed but not yet closed. The ARMLS Pending Price Index is available only through ARMLS, the sole aggregator of pending sales data.
The ARMLS Pending Price Index™ last month predicted that the median sales price for May would be $128,000. The actual May figure is $130,000, actualizing the upward prediction from the April forecast. In the near future, the ARMLS Pending Price Index is predicting a slight decline in median price in June, July and August, followed by a upward tick in September. The average price predicted last month for May was $173,000, and in actuality was $171,000.
The average sales price trend predicted by the ARMLS PPI™ for the rest of the summer shows an
up tick for June and July, a decline in August with an uptick again in September. Note that predictive accuracy declines the further into the future the prediction is made.

IMPENDING FORECLOSURES
Impending Foreclosures for Maricopa County for all property classes (residential, land and commercial) was 45,898 at the end of May. This represents a steady, yet slight downward trend since March. In contrast, the previous year’s (2008-09) impending foreclosures were on a significant upward trend from June 08 through May of 09. While the downward trend for the last three months is a good sign, it should be noted that the overall number of impending foreclosures is higher than at any time the previous year.

LENDER OWNED SALES
Lender owned sales (residential), which is sold inventory that the banks have taken back from the original borrowers, was at 3,430 in May, representing a much lower percentage (38%) of the overall sales in the market. This contrasts with the lender owned percentage of overall sales from a year ago of 62%. Clearly, the market is going in the right direction. As the lender owned percentage of overall sales declines, the influence of these distressed properties on median and average sales price also declines, inching us closer to a healthy market.
© 2010 ARMLS, may be reprinted with proper attribution.

AVERAGE DAYS ON MARKET
The average days on market (residential) in May, declined one day from April, to 96, showing only a modest decline and perpetuating the downward trend which started in March. Over time as the days in market decline, the absorption of excess inventory will increase, nudging us closer to a balanced supply and demand.

COMMENTARY
The Valley housing recovery at present seems content to move at its own deliberate pace, with its monthly gains and setbacks. While a monthly glimpse keeps our eye on the pulse of the recovery, longer term trends speak a more reliable truth. Speculation continues on the effects SB-1070 might have on the housing market. If many homeowners, regardless of nationality and immigration status, decide to sell or abandon homes in expectation of negative economic and social impact of this new law, the tenuous recovery could be undermined.
Signs are apparent that the Valley real estate is gaining ground in its recovery struggle. The decline in new inventory being added to the market hints that Sellers who are not serious are remaining on the sidelines. The sold unit trend has continued to climb since January. The slight dip in sold units from April to May is a somewhat positive sign, since a much greater decline would have seemed logical when the first time home buyer credit went away. Its absence caused very little change in the total sold units.
Most notable is the much lowered percentage of lender owned sales relative to total sales, coupled with the decline in impending foreclosures. The proliferation of foreclosure sales wreaks havoc upon pricing. Thus, a slowing of impending foreclosures which feed the total number of lender owned sales is a trend that signals a future recovery
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

If you are a homeowner in Phoenix, Scottsdale, Cave Creek,Peoria and Glendale or nearby areas and are underwater in your mortgage, you may have considered a short sale. Most people know that without the help of an experienced Phoenix realtor, this can be a lengthy and cumbersome process. However, there is now a program called HAFA (Home Affordable Foreclosure Alternatives) that may be the right solution for you.

If you, as a homeowner, cannot afford the loan modification program under HAMP and are having problems paying your mortgage, this new law should be of interest to you! Not only will it benefit you, it benefits the servicer and investor as well by providing incentives for participating; it also provides an alternative to foreclosure.

There are guidelines, and this program is not for everyone. HAFA went into effect on April 5th of this year, and allows home owners to participate in a short sale, if you have a mortgage with a participating lender. HAFA applies to those lenders who participate in the HAMP Mortgage Modification Program voluntarily. Fortunately, most major national lenders do participate, so this is not often a problem.

Home owners must still submit many of the same documents as is necessary in a traditional short sale, but once this step is completed you will find that the process is much quicker and more streamlined. Instead of waiting for months or even a year, you may find that your home is sold in a matter of weeks. If you believe you fit the criteria for the HAFA short sale, it is essential that your property be listed with a Certified Phoenix real estate agent who specializes in short sales. , It is necessary to enlist the services of a realtor; with HAFA, They require it.

Another fact about the traditional plan that rubbed many the wrong way is that the lender did not have to get in any rush to begin the process. In fact, lenders could take as long as they like to deny or approve the short sale. With HAFA, there are stricter time-lines that are much shorter, so the lender must begin the process at the time your home is listed with a real estate agent.

There are good points and bad points to everything, and the HAFA short sale is no different. If you believe that this program may apply to you, it would be in your best interest to contact a qualified Phoenix realtor today. Foreclosure is not the only option, and researching alternate solutions could possibly save your future.

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

May 2010
SALES Month over Month
Housing sales continued strong in April with the closing of 9,306 residential transactions,
up over 3% from the 8,990 units sold in March. Nationally, housing sales fell fractionally
for the same period.
SALES Year over Year
The April numbers were 3.5% higher than April-09 when 8,475 houses sold. This pace far
exceeds the national picture which showed only a 2% gain, according to the latest
numbers published by the National Association of REALTORS®.
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ARMLS STAT MAY 2010
Active Inventory
13,871 new residential listings were added to the ARMLS system in April, a 25% increase
over the same month last year when 11,118 were listed.
However Active inventory added to the system was down 5% from the previous month,
continuing a seesaw pattern of ups and downs evident over the past six months. On an
annualized basis, inventory in the most recent twelve months is down 5% from 158,000
to 149,000 homes for sale, slightly ahead of calendar year 2009 when 147,000 homes
were listed.
List Prices
Asking prices on new listings continued steady at $212,250 as the average and $139,900
as the median price. (The median price is the range midpoint where there are as many
listed houses above as below it.) The divergence between monthly average and monthly
median continues to narrow. This indicates optimism from sellers who have been waiting
on the side lines to put their more expensive houses on the market to test the waters. In
January, the average list price was nearly 65% higher than the median. In April, that
difference was down to 51% continuing a downward slide trend that we have seen for the
past four months.
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ARMLS STAT MAY 2010
Sale Prices
Closed sales continued to show signs of recovery, with the Average sale price of a single
-family home in the Valley falling by about $7,000 to $171,200, down from $178,200 in
March. However, the good news is that April’s average was over 7% higher than the
previous year average price of $159,700. This continues the three month trend of year
over year price increases substantiating that the market is starting to stabilize and
improve.
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ARMLS STAT MAY 2010
The ARMLS Pending Price Index™
The ARMLS PPI™ predicts future average and median prices based on reports of
contracts executed but not yet closed. The ARMLS Pending Price Index is available
only through the ARMLS system and has shown to be a strong indicator of future pricing
trends.
The average price is predicted to rise in May and June, then settle back in July only to
start upward again in August. Year over year, this is a continuing indicator that the
short term market remains fairly steady but still uncertain. The market, driven by first
time and move-up home buyer tax credits that expired in April, will no longer be
bolstered by those incentives. For the summer, all bets are off as the spring market
ends, the snow birds leave for cooler climates, and the summer doldrums set in.
The ARMLS PPI for Median prices likewise shows erratic behavior, ticking upward
fractionally in May, then falling back in each of the next three months. This would
indicate continued activity in the lower price ranges of the market as bank foreclosures
continue to dominate the sale picture.
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ARMLS STAT MAY 2010
“ARMLS PPI” is a trademark of Arizona Regional MLS.
Foreclosures
The foreclosure inventory continues to plague the resale market by saturating the MLS
with bank owned properties offered at below market rates. The average asking prices for
new listings dropped in April to $212,200, down $5,000 from the previous month.
Currently 5,029 or 12.3% of the 47,836 active listings in the ARMLS system are bank
owned/foreclosures. However, in the previous month of April, 3,538 of the 9,306 closed
sales were foreclosures. With 38% of the closings being bank owned foreclosures, the
downward pressure on prices is formidable. ARMLS expects this trend to continue until
the economy begins to recover and unemployment abates.
In the Pending Listing class, 4,760 of the 14,855 of pending listings, or 32%, are bank
owned properties.
For the eighth straight month, the number of pending foreclosures has hovered within 1%
either side of 50,000, according to the Cromford Associates LLC, the market research
affiliate of ARMLS. As they have since August, 2009, banks continue to file foreclosure
notices of trustees sales at a rate of 200-250 per day, a trend that is not expected to
change for quite some time.
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ARMLS STAT MAY 2010
Market Time
All of this activity has its effect on market time. The average days on market of a sold
property in April was 97 days, down four days from the previous month. But this is down
from a high of 135 days the market experienced just two years ago in May 2008. Homes
now are selling on average 25% faster than they were just twenty-four months ago.
Commentary
The most recent 12 months show record sales, with March and April leading the charge.
Active inventory added to the market continues downward, putting positive pressure on
supply and demand, a necessity if prices are going to rise.
The housing market continues to try to make a meaningful recovery, but is hampered by
continuing unemployment and economic uncertainty on the national level. ARMLS is
seeing mixed signals from month to month since last October, but positive gains are
mixed with losses. This is a classic pattern that markets make in gaining traction toward
recovery.
ARMLS continues to see glimmers of hope, but no long term, reliable indicators that the
market recovery is imminent. We continue to be hopeful, but must at the same time
remain objective and realistic. This recovery is going to take a long time to develop and
probably won’t mean a normal housing market will return for at least two or three more
years. All information suppled by ARMLS
© 2010 ARMLS, may be reprinted with proper attribution.
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ARMLS STAT MAY 2010

Many people have divided opinions about the short sale process. If you live in Phoenix or the surrounding areas, you may be wondering how to get out from under a mortgage that you can no longer afford. You may even be facing foreclosure. Is there another solution for your situation? This article explains the details, and why you need an experienced short sale realtor to help make all of the transactions easier.

Truthfully, the process can get drawn out longer than you would like, which is why many people avoid selling their home through a short sale. That being said, it doesn’t have to be so lengthy, which is why you need a Certified Short Sale real estate agent on your side. There are many benefits of having an agent take care of much of the work for you; they can compare home prices in the market, so you know how to price your home so that your lender is more agreeable to the process.

A good realtor can also help make finding a buyer for your home much easier. This is often a problem; buyers offer an amount that is ridiculously low, which the lender will not accept. Most of the time, your lender will be willing to work with you, if you show good reason why you cannot pay your mortgage and find a buyer who will pay a reasonable price for your home.

Foreclosure is something you absolutely want to avoid if at all possible, as it completely destroys your credit. Phoenix homeowners are urged to give the short sale process consideration, as it does not affect your credit as adversely as foreclosure does. In most cases, you will be able to purchase another home in two years or less.

Right now, many homeowners find that they owe more on their home than what it is worth; they are getting farther and farther behind in their mortgage and see no way out. This may be due to loss of a job, divorce, a death in the family or other devastating circumstances. Your lender will likely take less than what you owe on your home, simply because in the event your home is foreclosed upon the lender is left with an empty property – which is not what he wants.

Learn more about the short sale process, and how a reputable will help take the stress out of selling your home.

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

Arizona Homeowners – How a Short Sale Can Set You Free if You Are Drowning in Your Mortgage

Whether you live in Phoenix, Scottsdale, Mesa or Glendale, you may find that you just cannot afford your mortgage any longer. In fact, you may owe more on your home than what it is worth, and it seems you are getting farther and farther behind. A short sale is a viable option for those who see no way out of their dilemma, and fear they are facing foreclosure. An experienced Arizona realtor can help you understand the process, and also assist you in all negotiations should you decide the short sale route is right for you.

Are you already months behind in your mortgage payments? Foreclosure may be just a few weeks away, and is something you really want to avoid. While you may hear bad things about a short sale, most of that is due to the fact that it can be a lengthy process – but if you have a reputable real estate agent, it can be much simpler and accomplished in far less time.

One thing many people find attractive about the short sale is that they can honestly tell friends and family they sold their home and avoid embarrassment often associated with foreclosure. You can also avoid having your credit completely destroyed, which can be devastating for some people. When your credit is demolished, you are looking at about 7 years of not being able to purchase anything on credit – even another home.

A short sale will affect your credit rating somewhat, but not like foreclosure does. You will likely be able to purchase another home in two years or less. Why do you need an Arizona realtor if you decide to go this route? They will help you negotiate with your lender, and also help you find a buyer for your home. Your lender must approve the offer of the buyer; a good agent can make sure that the price the buyer is offering is in the ball park, so that you do not waste time.

As long as you can prove good reason for why you can no longer pay your mortgage and your lender agrees, a short sale may be just the solution to your problem. Lenders would rather have some money on your home, because they are not in the business of owning vacant properties. If you live in Phoenix, Scottsdale, Glendale, Mesa or surrounding areas and need to consult with a professional, contact an experienced, Certified Arizona short sale realtor today.

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

In the current economy, more homeowners are facing foreclosure than ever before. If you live in Phoenix, Scottsdale or surrounding areas in Arizona, you need a certified short sale realtor to guide you through the process of selling your home and protecting your credit from irreparable damage. If you are under water in your mortgage and several months behind on your payments, get help before it is too late!

A short sale is simply a process in which your lender is willing to accept less than is owed on your mortgage. There is a good deal of paperwork involved, which is why it is necessary to consult with an experienced real estate agent. Without someone to help you, the process can get lengthy which is why some home owners avoid going this route; however, the time and effort spent are well worth the results. You can honestly say you sold your home, and your credit will not be as badly damaged as it would if you went through foreclosure. With a short sale, you can expect your credit rating to drop by about 100 to 200 points, but there are ways of repairing the damage. With foreclosure, your credit will be beyond repair.

A Phoenix Certified Short Sale realtor can help in every aspect of the process. One thing you should know is that you should take action before you get way behind on payments. When your home is scheduled for auction, there is little that can be done in just a week or two. When you determine that there is just no way you will be able to pay your mortgage, take action quickly. Your lender will most likely agree to a short sale, provided you give them the information they need and find a buyer that is willing to pay a fair price for your home.

Your lender will probably want documentation explaining your hardship, or why you are unable to pay your mortgage. A reputable Arizona realtor can give you more information on the documents that may be requested by your lender, and help find the right buyer for your home. If there is any way possible to avoid foreclosure, you should take action. Your credit will be ruined, and you will be unable to purchase another home for at least 5 to 7 years! With a short sale, you are often able to purchase another home in as little as 18 to 24 months.

Save yourself from the stigma of foreclosure and all that goes with it. In Arizona, you can get out from under your mortgage payments and not totally destroy your credit! The process can be complex, but the rewards are well worth it. To make it easier, contact an experienced and reputable Phoenix short sale realtor today.

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

Phoenix Homeowners – Don’t Let Foreclosure Ruin Your Life! A Short Sale May Solve Your Problems

Are you like many other homeowners, and find that you are under water in your mortgage? If you are just a month or two behind but know that things are going to get worse, contact a Phoenix short sale realtor at once – and do not wait! Time is of the essence, and foreclosure is something you absolutely want to avoid. If you want to save your credit from total destruction and have the opportunity to purchase another home without waiting for 5 to 7 years, you need this information.

If you have been looking in to other options, likely you have heard the term ’short sale.’ Perhaps you have heard from others or read that it is a complicated and lengthy process, which has discouraged you from pursuing it further. Truthfully, the short sale process can be drawn out and aggravating, which is why you need an experienced Arizona real estate agent to handle the negotiations for you. It will help make quick work of the process, so that your home may be sold quickly.

Here are a few details Phoenix homeowners and those in surrounding areas should be aware of:

• A lender will often agree to a short sale, as long as the buyer is willing to pay a fair price for your home. They deal in money, and don’t particularly want a vacant property sitting on their books.
• You will have to provide your lender with a letter explaining your hardship (divorce, job loss, death in the family, etc.), along with other documents such as pay check stubs, your bank statement and other financial data.
• Foreclosure will prevent you from buying another home for 5 to 7 years, while the short sale process generally means that you can purchase a home for your family within 18 to 24 months

Why do you need a Phoenix realtor who specializes in short sales? A seasoned professional can explain every detail of the process to you, and negotiate with your lender on lowering the price of your home in order to find a qualified buyer. They can also handle the paperwork for you, which takes an enormous amount of stress off of you. In general, a professional real estate agent will help make the entire process streamlined and quicker, which means you can move forward with your life.

Are you upside down in your mortgage and don’t know which way to turn? Speak with a Certified Short Sale Arizona realtor with expertise in short sales. There are other options, and foreclosure is something you do not want to face unless there is absolutely no way to avoid it!

Phoenix Homeowners – Don’t Let Foreclosure Ruin Your Life! A Short Sale May Solve Your Problems

Short Sales in Arizona Have Saved Many Homeowners From Foreclosure!

Are you a homeowner in Phoenix, Scottsdale, Glendale, Cave Creek or surrounding areas that fear you are facing foreclosure? The recent downturn in the economy has resulted in many homeowners becoming upside down in their mortgage. If you are behind in your payments and see absolutely no way out of your predicament, a short sale may just save the day! Before you do anything, though, be advised that you will need a reputable and preferably Certified Short Sale Phoenix realtor behind you to negotiate the process so that it all goes smoothly and takes less time.

How does the short sale process work in Arizona? It’s pretty simple, but there is quite a bit of paperwork involved, which is why some homeowners avoid it. This is why it is essential that you have a real estate agent who is qualified to handle a short sale. The process is much more streamlined; a professional will find the right buyer for your home and handle all of the details for you. Now, to proceed with the process here are some basic guidelines:

You will need to prove your hardship to your lender. Financial hardships are often related to loss of a job, divorce, a death in the family or some other catastrophic event that lead to your predicament.

Your lender will likely want to review bank statements, tax returns, paycheck stubs and a financial statement. This will help you qualify for the short sale process. This is where your Phoenix realtor comes in.

While any agent can gather paperwork and submit it to your lender, a great negotiator is willing to battle and fight on your behalf. This can be the difference between you losing your home (and your credit rating) to foreclosure, or getting approved for a short sale!

A skilled and experienced real estate agent will locate the perfect buyer for your home. Usually, finding a buyer who is willing to pay a fair amount for your home holds up the process and can cause it to drag out for months. This is why some homeowners are leery of the short sale; they have heard or read about the red tape and time involved. Believe me when I tell you that your patience and efforts will be rewarded – and YOU will avoid foreclosure and all of the mess associated with it. Wouldn’t you love to be able to honestly tell friends and family members that you sold your home, and avoid total ruin of your credit?

If you live in or around Phoenix and are ready to give up the fight, don’t risk foreclosure until you have spoken with a skilled Certified Short Sale Arizona realtor! You need someone to explain the short sale process to you in detail, so that you can make an intelligent, and possibly life altering decision.
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

Why Scottsdale Homeowners Facing Foreclosure Should Consider a Short Sale

If you live in Scottsdale Arizona or any of the surrounding areas and find yourself buried under your mortgage, the short sale process may be of interest to you. A Certified Short Sale Arizona realtor can explain every detail, so that you can decide if this may be the answer to your problems. Loss of a job, divorce, a death in the family and other factors can affect your life and your financial situation much more than you realize. If you are falling behind in your mortgage, do not wait – time is of the essence!

Foreclosure is an ugly word and an even uglier reality of life. When you can no longer pay your mortgage and go the foreclosure route, it affects your life for years to come. Your credit will be totally ruined; you will not be able to purchase another home for at least 5 to 7 years. On top of that, many people want to avoid the stigma that often comes along with losing a home.

An experienced and reputable Phoenix short sale real estate agent can help you understand the short sale process so that you can determine if it may be the right course of action for you. The process can be lengthy, but with the help of a knowledgeable realtor it will be much quicker. A professional will assist you with every aspect of the process, and help locate the perfect buyer for your home.

Scottsdale residents who can no longer afford their mortgage need to understand how a short sale works. First of all, your lender will most likely be willing to work with you because they really don’t want an empty property – they would rather have money, even if it is not the full amount you owe on your mortgage. They can then mark the property as paid, instead of having an empty home sitting on their books. Once a buyer is found, your lending company will need to determine if they are willing to take the amount offered for your home.

A short sale will affect your credit adversely, but not to the extent that foreclosure does. You will most likely be able to purchase another home within 2 years and in some cases right away, instead of waiting 5 to 7. When you sell your home, you will be able to honestly tell anyone who asks that you sold your home – and not have to tell them that you were foreclosed upon. .

If you own a home in Scottsdale and feel things are getting beyond your control, or will be with your next mortgage adjustment, contact a highly respected Arizona realtor with vast knowledge of the short sale process. Right now, the future may look bleak and you may feel there is no way out. Thankfully, there may be a brighter tomorrow on the horizon.
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties