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What do you do if the homeowner just doesn’t want to sell their negative equity home? I imagine this is rare, but it has come up more than once when a homeowner is faced with the point today where they can no longer afford their home or it no longer makes sense to keep paying on [...]  The Loan Mod Myth note: I received this in an email, and thought it was worth sharing: For the last few months we have been writing articles to keep Realtors informed on issues relating to short sales. We have had comments from some Realtors that they are afraid to handle short sales because of the risks involved. But lets look [...] from Rebecca Roberts, Mortgage Banker with The Lending Company, Inc. Advising Short Sale and Deed-in-Lieu Clients 2010 If you are working with a client who has had a short sale or a deed-in-lieu in their past…or you are listing a home and your sellers may have the same issues…Fannie announced new waiting periods, as of July 1, [...] The dynamics of short sales are very different from normal sales. Because the seller’s bank must approve any buyer’s offer PLUS approve of the eligibility of the seller themselves for a short sale, the process of a short sale transaction takes many months from start to finish to consummate. We’ve seen them taking anywhere from [...] Courtesy of Barb Savoy-Pacella, ABR, CNRS, CHMS For the past year, we have seen consistently month over month that 93-94% of all properties selling in our market are listed under $400,000. That is still holding true. As we know, the number of foreclosures listed has decreased, but the number of [...] An interesting email I received from Stan Van Dyk of Cash Funding Options: Hi All: Shadow inventory is made up of all the properties that are Courtesy of Barb Savoy-Pacella, ABR, CNRS, CHMS The forecast for the Phoenix market is still optimistic. We are seeing the traditional swell of inventory that would be typical in January with inventory increasing, and pending sales decreasing, however; if you compare our current inventory with January of 2008 [...] Courtesy of Barb Savoy-Pacella, ABR, CHMS Happy New Year! To view homes for sale, or for additional information about the Phoenix, Arizona market, visit www.PacellaGroup.com. What a difference one year makes! As we reflect on 2009 and anticipate 2010 here are some things we know: * 94% of all properties that sold in 2009 [...] Courtesy of Barb Savoy-Pacella, ABR, CNRS, CHMS The Federal Reserve has concluded their final meeting of 2009. It appears that for the time being, the Federal Funds Rate will not be increasing. However, the mortgage backed security program currently in place that has kept rates artificially low will come to an end in [...] |
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Copyright © 2012 Buying Arizona Real Estate - All Rights Reserved. Blog owner Tony Pomykala is a licensed Arizona Real Estate agent with Sunrise Investments. equal housing opportunity |
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