PAYSON SHORT SALE UPDATE:
Greetings from "Rim Country" Payson, AZ.
I work daily with the short sale market, tons of different contracts, processes, paperwork required by each individual lender. I thought I might shed some light on the current status of this segment of Payson properties.
In these trying times we have to keep a look out not just for LIST PRICE but more importantly VALUE, and in-spite of all the negative press there are deals across the board right now coupled with historically low interest rates that make getting a deal of a lifetime right here and right now. If you keep your eyes wide open you too can snap up a spectacular home at a great value, and we'll keep our head down and walk away quietly with a Steal!
Without question, the high end Luxury Properties are taking the bulk of the hit. This year we negotiated a $110,000 reduction on a $675,000 (already greatly reduced) Home ACCEPTED by the lender due to some fancy footwork and good negotiating skills!
First the numbers (according to the Central Arizona Board of Realtors MLS):
As of 11/3/2010 20 Active Payson Short Sales Available ranging between 89,000 & 699,000.
As of 1/1/2010 14 Payson Short Sales have sold
49 Have Canceled, Withdraw, or Expired (Bank Owned Bound!)
5 Pending taking Backup
Running through the process with the lenders can be a challenging experience, and if your not specifically trained it quickly becomes a maze of confusion & frustration. The time factor can shake the most patient buyers, typically you can expect 3-5 months to get the deal done, although there are Short Sales that have Closed within days!
The most important part of purchasing a Short Sale is finding a qualified Short Sale Expert to help you though the paperwork as well as the emotional roller coaster ride. With a qualified expert your ability to purchase a Short Sale in a timely manor is greatly increased. Don't be afraid to ask a Realtor if he has any training in the Short Sale Process this will help make your Buying experience a much more enjoyable voyage.
If I can be of Service here in the "Rim Country" or if I can answer any Short Sale Questions you may have, please feel free to contact me anytime! Or you can go to www.PaysonGuy.com to get more info on Short Sales and find the Arizona MLS System that you can use for FREE simply click on LISTING BOOK and do your own home searches (up to 25 different searches)! I wish you all an amazing Payson Short Sale deal when your ready to take advantage of this perfect Real Estate Storm, just call me I'll be happy to serve!
Oh by the way..........I'm never too busy for your referrals!
PAYSON UPDATE: Here's one very important factor in the Payson Real Estate Market right now. Mayor Kenny Evans is negotiating with ASU to bring a 4 year college to Payson. The Location will be on a 300 acre parcel of land and we currently have 500 million in pledges to build the college privately! The college will support between 3000 & 6000 students and tuition's will be approximately 50% of Tempe's tuition. Were expecting to see this come about within the next year, possibly early next year.
This will turn the Payson Real Estate market into its own Microcosm of an economy! Housing will be snapped up and Short Sales and Bank Owned will quickly dry up! If your looking to take advantage of this unique opportunity, now's the time to be bold while the inventory is still available.
I know it sounds like typical "SALES" talk, so please research the ASU information at www.paysonroundup.com (our local newspaper website)
And Always remember......................Sell the rumors, Buy the facts!
It's a Good Life!
Guy
PaysonGuy.com
Guy Pfister
guy@npgcable.com
WWW.PaysonGuy.com
(928) 978 2838
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