Maricopa County - Arizona - Active Short Sale Listing Market Trends Jan 2011 to March 2012
There isn't a day that goes by without somebody asking me about short sales in the Phoenix Metro Area. I have been saying for awhile now that new active short sale listings are declining. The chart below shows the dramatic drop in active short sale listings from Jan 11 to March 3, 2012. Currently there are 1571 active short sale listing in Maricopa county. That is a drop of 8798 active short sale listings since Jan 2011.
In general we have had more success in getting short sales to a successful close than previously. And yet it still take a long time to close a short sale - sometimes upwards towards 6 to 8 months. Many banks have improved their short sale systems and hired more people to handle the massive influx of short sales this past 4 years. This is not to say that short sales are 'easy' sales. They take a great deal of time, energy and patience on everybody's part, the seller, the buyer and the listing and selling brokers. Currently there are 5889 short sale that are AWC which meand active with contingencies - waiting on approval from the bank. The high number of short sales waiting to close gives us all a clear picture of how long it takes for the banks to work through their short sale files. And, unfortunately not all short sales are successful.
Short selling your Phoenix area home will require a lot of patience. If you are upside down on your mortgage and not sure what to do, the best thing to do is reach out and call a CDPE -Certified Distressed Property Specialist and discuss your options. I can walk you though different scenarios and together we can make a plan of action for you and your family. It's also a good idea to consult with an attorney before we proceed in listing your home. We have several attorney's on our partner list that we trust and know will take good care of our clients. It is important to take action sooner rather than later if you need to short sale your home as you may have more options and more time to complete a sale before being forced into loosing your home and destroying your credit. There is a light at the end of the tunnel...but you need to action first.
Real Estate and Working with my Clients is my Passion!
I take my clients trust in me very seriously. I'm known for 'telling' it like it is, not what folks might want to hear or think it should look like. Now that may sound kind of tough, but think about it, in the long run if you want to buy or sell a home you need to know the real facts in order to make a wise choice.
If you want the truth and the whole truth, I am the
Phoenix Real Estate Agent for You.
When you are ready to buy or sell a Phoenix Area Home, I will be your advocate, guide, and fierce negotiator. I will work hard to make your buying or selling a home as smooth and stress-free as I possibly can - even if it's a short sale. Guaranteed.
Call me and we'll discuss your short sale options and make a plan of action 602-380-4886
Sincerely,
Anna 'Banana' Kruchten
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