Distressed Properties

For the past few years, buyers have tried to avoid short sales.  The primary reason was because of the extended period it takes before an approval is received from the Seller’s bank.  A more appropriate term should be “long sales”. As most of the general public is aware, the term “short sale” describes when the [...]

Buying a home in a “normal” market is perplexing enough.  It is important for the buyer to understand the different types of distressed properties. Having a basic knowledge of these types of homes will better prepare the buyer when they are ready to purchase a home. As a buyer, you are hearing all kinds of [...]

The Arizona Department of Housing now is taking applications from homeowners, effective September 21, 2011, to see if they qualify to sell their home as a “short sale”.  Qualifying applicants will receive a $4500 bonus and their closing costs paid when their home is sold.  This is a valuable incentive for homeowners to sell their [...]

With the Phoenix real estate and Tucson markets continuing to be inundated with short sales, there continues to be mistaken notions as to how short sales are handled and the time frames involved.  Keep in mind, each short sale has unique circumstances.  Each and every bank treats a short sale a little differently. Myth 1 [...]

Most homeowners who consider doing a short sale on their personal residence or letting it go to a trustee sale should be concerned with the possible financial liability they may face.  There are several issues the homeowner must consider that may have little to do with the property but need their attention nonetheless. A large [...]