desert hills short sale: Still Under Water in Desert Hills? Consider a Short Sale.
- 02/09/18 04:13 AM
Distressed properties - those that are "under water" where more is owed on the property than will be available from the proceeds of a sale of the property - are thankfully far fewer than during the crash during the latter years of the previous decade.
Still - some do exist - and Short Sales are still a viable option when faced with a "must sell" scenario of an "under water" property.
Currently running at less than 3% of the closed transactions every month in our MLS, homeowners in that 3%, whether in Desert Hills or another part of the valley, can still use our … (2 comments)
desert hills short sale: Are you one of the few considering a Short Sale in Desert Hills?
- 12/23/17 06:46 AM
While there are far fewer people these days considering a Short Sale of their home in Desert Hills, there are still some who may have purchased just before the "bust" last decade who may owe significantly more on the home than the proceeds of the sale will bring.
What to do?
A Short Sale is one such solution.
A Short Sale is a "regular resale" with one distinct and significant difference.
The agreement of your lender(s) to accept less than the balance(s) owed on the loan(s).
Whether or not a homeowner meets the other "requirements" of their lender(s) such as a "valid" hardship can only be … (8 comments)
desert hills short sale: Don't Just Give Up - Consider a Short Sale in Desert Hills
- 11/08/17 03:15 AM
While the numbers of Short Sales and REOs in Desert Hills are way down from the staggering levels following the market crash about 10 years ago, there are still some properties "under water" and some that have received a Notice of Default, the first step in the process that will result in the Trustee's Sale on the courthouse steps.
It's always sad to see people give up and walk away from a home, particularly when alternatives exist which may well be better for them and their lien holders.
We've learned that often those who "opt" to let the home go to foreclosure "by default" … (6 comments)
desert hills short sale: Why Foreclosure? You Do Have Options To Avoid It In Desert Hills
- 09/27/17 06:40 AM
Although we no longer see the levels of Short Sales that we did a few years ago in Desert Hills, Notices of Default continue to be issued, meaning that yet another Desert Hills property is on the path towards foreclosure at auction on the courthouse steps.
Suzanne and I wonder why the owners would allow the property to go to foreclosure, rather than investigate alternatives that may be mutually beneficial to themselves and their lenders.
Not all properties heading for foreclosure are necessarily "under water" - which theoretically means they could be sold via a "traditional" sale rather than a "short sale" - but … (8 comments)
While it's true that not every property facing foreclosure in Desert Hills is "under water", may of them are, and unfortunately many homeowners still don't understand that the likelihood is they will be far better off doing a Short Sale of their Desert Hills home than allowing their Desert Hills home to be sold at auction on the courthouse steps!
Short Sales are "regular resales" with one big difference.
In other words - the homes are worth less than the mortgage balance(s) - so it's not surprising that many homeowners are looking for solutions to stop foreclosure.
One solution to stop foreclosure and mitigate damage to a homeowner's credit is a Short Sale.
Short Sales are "regular resales" with one big difference. Your lender(s) must agree to accept less than the amount(s) owed on your loan(s).
While there are many details regarding Short Sale Seller financial circumstances and the hardship they face, the bottom line … (4 comments)
desert hills short sale: Needing To Short Sale Your Home In Desert Hills?
- 05/01/17 07:18 AM
While the number of homes "under water" in Desert Hills is significantly less than just a few years ago, some homeowners who purchased just before the "crash" that started in 2007 are still in a position where they owe more on their home than will be forthcoming from proceeds of a sale of the home.
If you need to sell your home, and you are in this situation, a Short Sale is one solution to this situation.
By definition a Short Sale is a regular resale with one distinct and significant difference. The agreement of your lender(s) to accept less than the balance owed … (0 comments)
desert hills short sale: Considering a Short Sale in Desert Hills?
- 09/26/10 10:48 AM
Many people are considering a Short Sale of their home in Desert Hills Arizona. Considering that more than 50% of homes are "under water" in Arizona - in other words - the homes are worth less than the loan balances owed - it's not surprising that homeowners are looking for solutions to avoid foreclosure in Desert Hills. A Short Sale is one such solution. If you are in the minority - that your home is worth more than you owe on it - then you need read no further. By definition a Short Sale is a regular resale with one distinct and significant difference. … (48 comments)
Scottsdale and Phoenix Arizona Real Estate Blog, presented by Tony and Suzanne Marriott of Haven Express @ Keller Williams Arizona Realty. Insightful commentary on the real estate market in Maricopa County, Arizona.
Distressed properties - those that are "under water" where more is owed on the property than will be available from the proceeds of a sale of the property - are thankfully far fewer than during the crash during the latter years of the previous decade.
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