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arizona short sale realtor: Arizona Pre Foreclosure Options - 09/12/10 03:39 PM
Arizona Pre Foreclosure Options
If you are an Arizona homeowner in the pre foreclosure process, you are not alone. According to a recent study by Zillow, two-thirds of homeowners in Arizona owe more on their homes than what they are worth.
In addition, the Mortgage Bankers Association recently released a study, saying that 14% of homeowners nationwide are behind a minimum of one payment on their mortgage. This means that 1 out of every 6 mortgages are currently not being paid.
Folks, these are staggering statistics. The worst part of this scenario is that currently 7 out of 10 homeowners … (2 comments)
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arizona short sale realtor: Attn: Arizona Short Sale Realtors & Sellers- Beware Of The Drop In Values! - 08/05/10 01:56 AM
Attn: Arizona Short Sale Realtors & Sellers- Beware Of The Drop In Values!
As many of you may have noticed, values are once again dropping in the Metro Phoenix and Scottsdale markets (especially with those homes in the <$300k range, which we haven't seen in the past several months). While this may come as no surprise to those of us who are working in these markets (based on the past 2-3 years), there is an unnerving trend I'm already starting to see with the BPO's coming in on our short sale listings. I can only hope that Realtors in other markets … (2 comments)
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arizona short sale realtor: Attn Distressed Homeowners & Listing Agents-BEWARE OF THE NEGOTIATOR/INVESTOR! - 07/31/10 10:01 AM
Attn Distressed Homeowners & Listing Agents-BEWARE OF THE NEGOTIATOR/INVESTOR!
If you are a Real Estate Agent who specializes in helping homeowners through the Arizona pre foreclosure process by helping them short sell their home, you've undoubtedly received phone calls from investors. Usually, the conversation starts off with the caller asking for details about the home (i.e. price, any offers yet, etc.). Eventually, they get to what I call their "punch-line", and it goes something like this...
"I'd like to make an offer on your listing, but, I must tell you that it will be well below what you have the home listed … (70 comments)
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arizona short sale realtor: ActiveRain Blog on Phoenix Short Sale Fraud= Interview With Channel 12 News - 07/30/10 02:27 PM
ActiveRain Blog on Phoenix Short Sale Fraud= Interview With Channel 12 News
In April, I wrote a blog on ActiveRain titled, "Attn: Distressed Homeowners & Listing Agents: BEWARE OF THE NEGOTIATOR/INVESTOR". In a nutshell, the blog talked about the recent rise in what I feel are fraudulent schemes that are being perpetrated more and more in the Phoenix short sale market.
Anyone who lists a fair amount of short sales have dealt with them. You know, the realtor or investor calls on one of your listings, wanting to offer 50% of market value, and wanting to do all of the negotiating … (4 comments)
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arizona short sale realtor: Arizona Pre Foreclosure & Contemplating A Strategic Default? - 06/25/10 12:40 PM
Arizona Pre Foreclosure & Contemplating A Strategic Default?
Homeowners in an Arizona Pre Foreclosure situation that are contemplating walking away from their mortgage need to read this.
FNMA announced a change in the timeframe to purchase after a foreclosure. Beginning July 1st, 2010, homeowners will be forced to wait 7 YEARS before purchasing another home backed by FNMA (previously, there was a 5-year wait).
This new announcement will dovetail into the announcement that they made on April 30th, regarding waiting periods for those homeowners that choose to short-sell their homes. Basically, homeowners who choose to work with their lenders will be forced … (4 comments)
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arizona short sale realtor: Is The FDIC Killing Indymac OneWest Bank Short Sales & Loan Modifications? - 09/17/09 01:49 PM
Is The FDIC Killing Indymac OneWest Bank Short Sales & Loan Modifications?
Please Note: This is a re-post of a blog I wrote on September 17, 2009. In February/2010, the guys at Think Big Work Small decided to use this blog as the basis of their video that ended up “going viral”. The title of their video was “The IndyMac Slap In Our Face”, and I’m sure many of you saw it.
As of the re-posting of this blog, the FDIC now has 167 Loss Share Agreements in place with various lenders. At the end of 2009, there were 94. … (199 comments)
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Bob Hertzog Phoenix Short Sale Agent, Designated Broker
Phoenix,
AZ
More about me…
Summit Home Consultants
Address: 7702 E Doubletree Ranch Rd., Suite 300, Scottsdale, AZ, 85258
Office Phone: (602) 957-1583
Cell Phone: (602) 909-5994
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