buyer representation: Two Breaches Don't Make a Right... - 08/30/09 11:34 PM
We do a lot of transactions that involve buying or selling properties that are ‘distressed’ properties.  The dictionary defines distress as:  a state of extreme necessity or misfortune.  A distressed property might be anything from a vacant, bank-owned home, a pre-foreclosure that involves tenants being forced to move, or a traditional sale where the sellers are forced to sell and must walk away from a large down payment that has been lost to them in a declining market.  Currently, 60%-70% of all homes closing in the Phoenix Metropolitan area would fit into this category.
Distressed sales are never ideal for the … (0 comments)

buyer representation: You get MORE THAN JUST ME on a 'New Build' - 04/12/08 08:45 AM
I received a 'panic-call' from a frenzied mother the other day.  Her adult child had wandered into a new home community and signed a contract to purchase a home.  A phone conversation was completed with the builder's lender at which a conditional loan approval was given to the potential buyer based on income from a job she was most likely going to get when she finished her schooling in the next 6 weeks. 
The adult daughter has since learned she is pregnant.  She will have 2 babies under 18 months old and will not be able to afford the childcare on her … (1 comments)