If you have been wishing to purchase your dream home, but was a little short on having the asking price, then this may be the market you have been waiting on. Fortunately for some, and unfortunately for others, housing prices are being slashed 20-70% off the original sales prices.
If you are a homeowner who is facing foreclosure, there is a silver lining if you sale the home before the Trustee auctions it. By selling your home as a short sale, you soften the hit on your credit report. It is always better to have the bureau report your mortgage was settled, or paid in full, opposed to FORECLOSED! As soon as you find you are unable to make your house payments due to an unforeseen hardship, contact a short sale real estate agent to help you put the home on the market, the agent’s commissions are paid by the Bank – so no sweat there.
If you are a home buyer, your dreams are coming true. You can purchase the home of your dreams for pennies on the dollar, as a short sale, at a Trustee sale, or a Bank owned property. Here are just a few examples of how buyers were able to purchase homes at an incredible price:
3200sf Semi Custom Home – Orig. price $650,000 sold for $355,000
3700sf Semi Custom Home – Orig, Price $770,000 sold for $412,000
3700sf Semi Custom Home – Orig. Price – $730,000 sold for $397,000
There are homes selling as low as $30,000 to Millions representing pennies on the dollar. So if you are waiting for pricing to go down, I think you have missed that window, prices are going up with each sale even though they are deeply discounted. So with a little patience and pre-approval letter from your lender, you can move into the home of your dreams in a reasonable time frame. The following are some time frames you may want to consider when looking for your new home.
Here are your time frames:
Short Sale – takes from 90 to 180 days to close after your accepted contract
Bank on Properties – 45 to 60 days to close after your accepted contract
Regular Sales – 45 days to close
New Home Builds – 30 days to 6 months to build and close
Sellers need you, and I need Buyers. If you are looking to purchase or sale a home look no further than Cynthia Smitherman, ABR, GRI, DB, CDPE, VP- AAREB, REALTOR, REALTIST, to help you navigate through the maze of real estate purchase and sales.
Emage` Fine Properties, LLC
602 697-4487
cynthia@emagehomes.com
www.homes4saleaz.com
equal opportunity housing participant
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