florence short sale: Still Under Water in Florence? Consider a Short Sale.
- 02/25/18 06:47 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 Florence or another part of the valley, can still use our help.
The … (0 comments)
florence short sale: Are you one of the few considering a Short Sale in Florence?
- 01/10/18 05:54 AM
While there are far fewer people these days considering a Short Sale of their home in Florence, 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 determined … (0 comments)
florence short sale: Don't Just Give Up - Consider a Short Sale in Florence
- 12/07/17 08:55 AM
While the numbers of Short Sales and REOs in Florence 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" often … (0 comments)
florence short sale: Why Foreclosure? You Do Have Options To Avoid It In Florence
- 10/17/17 09:40 AM
Although we no longer see the levels of Short Sales that we did a few years ago in Florence, Notices of Default continue to be issued, meaning that yet another Florence 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 circumstances may … (2 comments)
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 … (2 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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