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Does Your Realtor Understand Short Sales?

January 13, 2012 By Jamie Leave a Comment

In most situations, well-planned short sales of Phoenix Arizona Homes have significant advantages over foreclosures. Indeed, a close look at the Phoenix MLS shows a relatively high percentage of short sales among all Phoenix Homes for Sale. However, a short sale is not to be taken lightly – preparation and experience is essential. Among the important questions to consider when pursuing a short sale is the big question: Does my Realtor understand short sales?

To help you evaluate how well prepared your Realtor is for handling your short sale, have a discussion with him or her about the short-sale process, and be sure to ask the questions below. If you don’t hear the answers or the knowledge and familiarity you’re looking for, be prepared to keep looking for a Realtor that’s equipped to help you.

  1. Who is the service company and what do they do in the process? In general, the service company of the mortgage is the name on the mortgage statement you receive every month. Bank of America, Chase and Wells Fargo are common service companies. In most cases, the service companies are only in charge of processing the file and have very little to do in the decision-making process and negotiation of the sale itself.
  2. Who is the investor? Fannie Mae, Freddie Mac and Ginne Mae tend to be the investors of the majority of loans. Large service companies such as Bank of America, Chase and Wells Fargo may also be an investor on a mortgage. The investor is usually the decision-maker on each loan and has specific guidelines to follow in negotiating a short sale. Experience in negotiating with different investor guidelines is essential experience for a Realtor to have in order to have a successful close of escrow.
  3. Who is the MI company? Not all loans have MI (mortgage insurance), but some do. In the event that there is MI on a loan, you be certain that the MI company is going to negotiate with you (the seller) before allowing a close of escrow. The MI company is generally covering the loss in the short sale and paying out the investor for the loss on the mortgage, so the goal of the MI company is to reduce the lost payout as much as possible.
  4. How will each be negotiating with me? This is a great question for an agent. Negotiating with service companies, investors and MI companies is not like negotiating a normal purchase contract. The process is bureaucratic, paperwork-intensive, and detailed. Experience really pays here and a good Realtor will know how to get it done and cost you very little at closing. However, a lack of experience and less-than-thorough paperwork by your agent could result in you writing a large check at closing, or worse, a foreclosure.
  5. What are the potential tax consequences? In every short sale, there are potential tax consequences that a seller must deal with. Asking your CPA or tax advisor about your particular situation and possible consequences is a very important part of planning for your future. A Realtor should have some general knowledge of the potential consequences as well as a good reference for you to get further help, but should also encourage you to discuss with your CPA or tax advisor.
  6. What are the potential liabilities after closing? Most loans are written as “non-recourse”, meaning that the lender will not be able to pursue you in the future for a loss incurred. However, some loans are recourse loans in which the financial institution may choose to pursue legal and collection avenues for the loss. When working with a recourse loan, there is always future potential liability where you should consult an attorney about the situation and again, a competent Realtor experienced with short sales in the Phoenix Real Estate market will encourage you to discuss the situation with your attorney.

Remember – a short sale is truly a “double-edged sword.” On one hand it can usually offer significant advantages over foreclosure, but on the other hand it requires specific knowledge and expertise to successfully complete. Our Phoenix AZ Realtors have the short sale knowledge and experience to help you succeed – give us a call today!

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The Short Sale – What is the Verdict?

December 19, 2011 By Jamie Leave a Comment

Not long ago it seemed no one knew of a short sale. Now, it seems that of every ten Phoenix Arizona Homes I show to buyers at least five are listed as “Short Sale.” Simply defined, a short sale means that the seller is “short” enough money to pay off the mortgage by selling the home. Therefore, the homeowner must negotiate with the lender to determine a lesser amount allowable to pay off the mortgage at close of escrow.

The list of downsides for the Short Sale are numerous: tons and tons of bank bureaucracy to work through, super-long escrows lasting three times as long as a normal escrow, waiting for bank negotiators for days on end, real estate agents who may not know how to operate in the banking world. Last but not least – the seller’s bank is always able to say no.

On the other hand, the bank industry is dramatically improving processes required to complete short sales in a timely manner. Large national banks such as Bank of America, Chase, Seterus, Wells Fargo and CITI – which received black eyes in the past for poor performance – are now able make decisions in less than 90 days if provided the proper paperwork. Even smaller regional banks such as MetLife, Green Tree, Desert Schools, Provident Funding, and American Home Mortgage Servicing are also showing improvement. With Fannie Mae and Freddie Mac – the two largest holders of mortgages – continuing to implement short sale support, short sales of Phoenix Real Estate continue to improve on closing ratios.

With that silver lining in mind, remember that a short sale is not a foreclosure! Completing a short sale is an option to unload piles of mortgage debt. A well-planned short sale should include legal, tax and credit planning. With the correct planning, a homeowner may be able to qualify for a new home in as little as two years. And as a rule, banks are approving 90% of short sales of sellers with viable financial hardships.

And, don’t forget that the Home Affordable Foreclosure Alternatives is paying homeowners for completed short sales. Do you qualify? Contact us today at 480-776-5214 or www.ThompsonGroupAZ.com and one of our Phoenix AZ Realtors with extensive Phoenix MLS experience in the short selling of Phoenix Homes for Sale can help you find out.

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My Home is Worth Less Than I Owe…But I Need to Sell! What do I do?

November 15, 2011 By Jamie Leave a Comment

Our office received a call from a homeowner who needed to relocate to another city due to a job transfer.  The homeowner had lost his job in Phoenix and wanted to take the new out-of-state job, but he was unsure of whether to take the job… because if he did he’d have to sell his house, and the mortgage debt on his home was more than he could get in today’s Phoenix Real Estate market.

Basically, the home owner had three options.  He could:  (A) turn down the out-of-state job and continue to look for local employment; (B) walk away from the home and give it back to the bank in foreclosure; or (C) pursue a short sale of his home.  In the end, the homeowner decided to pursue a short sale.  Here is why:

  • Credit Implications: One of the biggest reasons to pursue a short sale is to lessen the impact to your credit that occurs due to foreclosure.  Missing a mortgage payment is one of the most damaging acts a consumer can do to their credit rating.  Missed mortgage payments continue to damage your credit until the sale of the home is complete.  Once a short sale or foreclosure is complete, you are no longer missing mortgage payments and continuing to damage credit.  The trick to lessening the impact is to get the sale completed sooner!  By pursuing a short sale, missed mortgage payments should be greatly reduced as opposed to waiting for the bank to complete a foreclosure.
  • Legal Implications: In this situation, the seller had two loans on the home.  If the homeowner let the home go in foreclosure, then the non-foreclosing lender would be able to pursue the homeowner directly for a deficiency judgment.  By pursing a short sale, the homeowner is able to get protection from any future deficiency litigation.
  • Tax Implications: Whether through a foreclosure or a completed short sale, a mortgage lender may write off the loss and send the homeowner an income tax bill for the amount of the loss.  In our situation, the homeowner was able to plan in advance with tax specialists to help minimize the impact from this income tax bill.
  • Avoid Foreclosure Implications: A foreclosure may stay on a homeowner’s credit record for 7-10 years and is sure to be a potential source of embarrassment.  A foreclosure could also affect the ability to get future employment and security clearances.  A foreclosure can also prevent the purchase of new Phoenix Homes for Sale for 3 years or more.  For this homeowner, avoiding the negative stigmas of foreclosure was a very important reason for pursuing the short sale.
  • Potential Relocation Payment: Through Home Affordable Foreclosure Alternatives (HAFA) and Federal Housing Administration (FHA) many homeowners are receiving relocations expenses of up to $3000, if they pursue non-foreclosure alternatives.

At The Thompson Group, we believe a well-planned short sale of Phoenix Arizona Homes should present significant advantages for homeowners who need to sell.  (Always consult legal, credit and tax experts.)  Do you wonder if you qualify?  Contact any of our Phoenix AZ Realtors to find out at www.ThompsonGroupAz.com or 480-776-5215.

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The Weather Cools Down but the Real Estate Market Remains HOT!

October 14, 2011 By Jamie Leave a Comment

Ahh! Autumn is finally here – time for things to cool down. But, though that may hold true for the weather, the sale of Phoenix Arizona Homes shows no signs of cooling off – and the Phoenix Real Estate market continues the clean-up! As of September 30th, our buyer clients continue to see strong competition on their offers and our sellers are seeing strong price stability. Here are some interesting (and optimistic!) factors to consider:

  • Overall Home Supply – DECREASING. For the entire Phoenix MLS at the end of September, the total number of active real estate listings is 26,970 while the number of sold listings for September is 7,911. At the end of the June quarter, the total active real estate listings were 30,618. From quarter to quarter, the Phoenix Real Estate market is showing a 12% reduction in inventory of Phoenix Homes for Sale. (The surplus is finally being reduced!)
  • Local Zip code of 85224 – HOT! The Chandler zip code of 85224 shows that in September there were a total number of 159 active real estate listings, with the total number of sold listings coming in at 82. In other words:  there’s less than a two-month supply for this popular zip code of homes for sale.
  • City of Chandler – EVEN HOTTER! For the entire city of Chandler, the number of active listings in September single family homes between 1200 and 1500 square feet that was 167. The number of sold listings in September came in at 89 – leaving just a 1.9 month supply of homes for sale. From 2nd quarter to the 3rd quarter, the city of Chandler continues to show less than two months of inventory making Chandler one of the hottest Valley cities for a new home purchase!
  • Overall Phoenix-area Year-to-Date Home Sales – 10,000 MORE?! During the nine-month period ending in September 2010, the number of sold real estate listings was 68,663. For the same period this year, the number of sold listings is 78,473. That’s right: nearly 10,000 more homes sold for 2011 than in the previous year.

A reduction in home inventories, both local and Valley-wide; fewer homes on the market; more homes actually selling – these are all good signs of a reviving real-estate market. We’re finally seeing some concrete relief to the market stagnation – which bodes well if you’re contemplating selling your home.

Do you need to consider a short sale to unload a burden of debt? Or are you looking to maximize your selling price? Here at the Thompson Group, the goal of our Phoenix AZ Realtors is to show you the BEST options for your situation. Give us a call at 480-776-5214 or  find us at www.ThompsonGroupAZ.com .

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Selling for Top Dollar – Contract Strategy

September 15, 2011 By Jamie Leave a Comment


The day is here! You need to sell your home. The next steps are to find a real estate agent familiar with the Phoenix MLS, put your home on the market and negotiate a contract. You might not have seen the latest Arizona purchase contract. Filled with 10 pages of legal jargon and multiple addendums, the management of the Phoenix Real Estate contract is an easy way to give away thousands of dollars through the sale of a home to a buyer. Here a few items to watch for that can affect your bottom line:

  • Buyer Loan Costs. With the current distressed market, many buyers like to write offers asking for the seller to pay their loan costs. And if the overall contract sales price is right, paying the buyer loan costs might be well worth while. Generally, the request is made as 3% of sales price, which initially may not seem high. However, when considering a sales price of $150,000, 3% of sales price works out to be $4500  – not a small sum of money. Instead, consider offering a compromise: have the buyer pay only half of the loan costs.
  • HOA Transfer Fees. Did you speak with your home owners association (HOA) before listing your home? The amount your HOA will  charge to transfer the property to a new buyer is great information to know. In some situations, HOAs have charged $500 – $1500 to transfer the property. With HOA transfer fees being a negotiable item, a seller may be able to pass this cost on to a buyer.
  • Home Warranty Costs. As a general rule, buyers of Phoenix Homes for Sale expect sellers to pick up the cost of a Home Warranty. The Home Warranty will cover the buyer for one year in case some of the working components in the house break. The home warranty also protects the seller from being pursued by a buyer who feels that an A/C unit, hot water heater, or other expensive item died prematurely. A typical, basic Home Warranty plan will cover most items and can be obtained for under $350. But watch out – some buyers will ask for plans that can cost up to twice this amount.
  • Appraisal. Did you and your real estate agent have a conversation about what price the property is likely to be valued by an appraiser? Will your home appraise for the sales price on the contract? Over and over again, I see sellers accept contracts for sales prices that have no chance of being supported by appraisal. Many times, after about 15 days into the escrow, the appraiser may submit an appraisal for thousands less than the contracted sales price. With the seller having planned a move, packed up the house and secured a new place to live, the seller is generally between the proverbial rock and a hard place. They’re forced to wonder: “Do I accept the new sales price or cancel the move?” Keeping in mind that most sellers are moving for significant life reasons such as job transfer, bigger home or changes in lifestyle, the seller generally must accept the financial change or give up on the reason for moving.

In most cases a little upfront planning will help net more money for sellers when the contract arrives. Asking the right questions and getting the right information can be crucial. Do you have more questions? Do you want to learn more about this or other ways to get the most money from the sale of your Phoenix Arizona Homes? Our Phoenix AZ Realtors can help. Contact us at (480) 776-5214 or www.ThompsonGroupAZ.com .
 

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Short Sale Frequently Asked Questions

August 18, 2011 By Jamie 1 Comment

Well-planned short sales of Phoenix Arizona Homes may have significant advantages over foreclosures. Indeed, a close look at the Phoenix MLS shows a relatively high percentage of short sales among all Phoenix Homes for Sale. There are many questions to ask as you go through the short sale process. Here a few frequently asked questions about Short Sales:

1.  How do I qualify for a short sale of my Phoenix Arizona Home?

Generally, you need a qualifying hardship such as a job loss, unforeseen medical expenses or some other reason that you shows you have a financial hardship and an inability to pay the mortgage.

2.  Should I move out of my home, or should I stay in the home during the short sale process?

Staying in the home is generally a great idea. A homeowner cleaning and taking care of the home who can also help answer buyer questions helps with the sale process. Additionally, while going through the process, most homeowners are unable to make mortgage payments. So, take advantage of the free rent during the process.

3.  Should I leave the utilities on until my Phoenix Arizona Home is sold?

Yes, the Phoenix Real Estate contract requires the utilities to stay on, but in addition, having the utilities on helps in selling the home. A cooler, comfortable home in summer or a clean, blue pool can make all the difference in swaying a buyer to purchase your home instead of some other home down the street.

4.  What repairs should I complete before selling my home?

As a rule, the only repairs to complete should be inexpensive repairs or repairs that if not complete would prevent the sale of the home.

5.  Do I keep paying the mortgage payment?

As a general rule, as long as you can pay the mortgage, you should pay the mortgage. Not making the mortgage payment is detrimental to your credit score and should be avoided if possible. However, some investors are refusing to process short sales unless a seller is delinquent on a payment. In those cases, a seller must decide whether to miss a mortgage payment or wait to start the short sale.

6.  How long does it take to complete a short sale?

When the bank service companies are doing a great job, a short sale can often be completed within 45 days of the seller accepting an offer. However, many bank service companies tend to drag the process out much longer.

7.  Does my mortgage have mortgage insurance on the loan?

Of about 1 of every 7 short sales we process, an investor took out mortgage insurance on the loan.

8.  How do I get my loan services company to process my file faster?

Begging, pleading, screaming …these are just a few different ways to get a loan services company to move faster. A more effective way is to escalate problems to higher-level management who can make things happen.

9.  Will I be able to buy a car during the short sale process?

Depending on your credit, you may or may not be able to purchase a car. Obviously, if you are missing mortgage payments, new purchases based on credit are less likely to happen.

10.  What are the downside consequences of the short sale?

There are potential tax and legal consequences after a short sale is complete, so be sure to get good tax and legal advice throughout the process.
In a nutshell, short sales can usually offer significant advantages over foreclosures, but they demand specific knowledge, expertise and strategy to successfully complete. Our Phoenix AZ Realtors have the short sale knowledge and experience to help you succeed – give us a call today!

Feel free to add a comment or ask a question!

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It’s Heating Up Outside… and so is the Market!

July 15, 2011 By Jamie Leave a Comment

The Phoenix Real Estate market got “hotter” in June as the daytime high temperatures made their normal move over the 110 degree mark. Our buyer clients were in multi-offer situations and our seller clients enjoyed pricing stability. At first it may seem like a heat-induced mirage, but check out the numbers behind these trends:

  • Overall home supply is low –  For the entire Phoenix MLS at the end of June, the total number of active real estate listings was 30,618 while the number of sold listings for June was  10,940. What’s of note here is that with the strong June sales, the Phoenix market only enjoys a 2.8 month supply of inventory, but for the first time in two years we are below a 3-month supply.
  • Some neighborhoods are even better – For example, the Chandler zip code of 85224 reveals  that for June there were a total number of 217 active real estate listings, with the total number of sold listings coming in at 102. In other words, this zip code has just a little more than a two-month supply of homes for sale.
  • The city of Chandler is doing better yet! – In the entire city of Chandler, the number of active listings in June for single family homes between 1200 and 1500 square feet that was 177. The number of sold listings in June came in at 98 – leaving just a 1.8-month supply of homes for sale. That is less than two months of inventory!
  • Overall, fewer homes are coming onto the market – In the first six months of 2010, a total of 79,186 new listings came on to the market. For the same period this year, there were only 68,393 new active listings. That translates into nearly 11,000 fewer real estate listings coming to market in 2011 – in other words, a reduction of 13.6% in new inventory. This reduction in the glut of Phoenix Arizona Homes on the market should lead to pricing stability for the real estate market.
  • At the same time, MORE homes are selling – During the same six-month period ending in June 2010, the number of sold real estate listings was 48,096 while for the same period this year, the number of sold listings is 53,919. That’s nearly 1000 more homes sold per month in the first six months of this year compared to last year – a much stronger sales market!

A reduction in home inventories, both local and Valley-wide; fewer homes on the market, while more homes are selling – these are all good signs of a reviving real-estate market, reducing the accumulation of homes waiting to sell, and relieving market stagnation.

If you’re interested in learning more about the ever-increasing opportunities in today’s market, or have been waiting to “make your move” until the times look better…  it’s time to get hopping. Our Phoenix AZ Realtors  can not only help you with your Phoenix Homes for Sale, they are specialists in the growth, changes and trends in the market, so give us a call today!

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Important Questions to Ask Before Starting the Short Sale of Your Home

June 15, 2011 By Jamie Leave a Comment

In today’s market, with the prices of Phoenix Arizona Homes for Sale substantially lower than during the housing “boom”, you may find yourself in the position of having to sell your home, yet owing more to your lender than you can get for the house on the Phoenix Real Estate market. One way of solving this problem – and avoiding foreclosure – is to sell your home in a “short sale”. With a short sale, you sell your home for whatever the current market will bear, and your lender agrees to accept the proceeds of that sale and release the lien on the home.

A short sale is not to be taken lightly, but it can present significant advantages. Before you pursue a short sale of your home, you should consider these important questions:

  1. Do I have a Qualifying Hardship? Lenders generally will only accept a short sale when the mortgage holder has a bona-fide inability to meet their current mortgage obligation, or a “qualifying hardship”. There are a number of reasons why a homeowner may face financial hardships — job loss, divorce, and medical bills are just a few. Many hardships will qualify you for a short sale and allow you to sell your home.
  2. Who are the lending institutions for my loans, and how do they handle short sales? Every lending institution has a different set of guidelines and policies to process short sales. Some work quickly and some work slowly. Knowing how your institution works is an important part of being successful.
  3. Does my Realtor understand how to work short sales with my lending institutions? Short sales are relatively new type of sale that many independent Real Estate Agents are unprepared for. If your agent is part-time, new to the process, or has not closed many transactions of this type, be concerned. The bank you are about to negotiate the short sale with is likely processing thousands of these transactions and is fully prepared to get the best deal it can. Make sure you have a Realtor that is fully prepared as well.
  4. What are my tax consequences? When should I talk to a CPA? In every short sale, there are potential tax consequences that a seller must manage. Asking your CPA or tax advisor about your situation and possible consequences is a very important part of planning for your future.
  5. Are my loans “recourse” or “non-recourse” loans? Could I be held liable for the loans later? Most loans are written as “non-recourse”, meaning that the lender will not be able to pursue you in the future for a loss incurred. However, some loans are recourse loans in which the financial institution may choose to pursue legal and collection avenues for the loss. Even this aspect can be negotiated – after all the lender does not want your house back, and stands to lose thousands if there ends up being a foreclosure instead of a short sale. Make sure your Realtor is prepared to help you negotiate if you are in the “recourse” category.

Remember, in most situations, well-planned short sales of Phoenix Arizona Homes have significant advantages over foreclosures. If you are facing financial hardship, if your home is worth less than what you owe on it, if you are unable to pay the bills, if you need to sell due to relocation of a job, then pick up the phone and give us a call – our Phoenix AZ Realtors do more than search the Phoenix MLS , they are experts in navigating through the Short Sale process, and can help you today!

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Selling for Top Dollar – Pricing Strategy

May 16, 2011 By Jamie 1 Comment

With today’s distressed Phoenix Real Estate market and all the competition of low-priced listings like short sales and bank owned properties, many sellers still demand to net as much money as is possible when selling their Phoenix Arizona Homes.  Fearing that they’ll undersell or “give away” their home,  many sellers will not embrace the strategy of “Pricing to Sell.”

“Pricing to Sell” is commonly defined as pricing a home in a price range of comparable homes sold in the last 3 to 6 months. Setting a home’s price more than 5% under the lowest comparable sale would be considered under-pricing a home or “practically giving the home away.” A home priced in excess of  5% above the highest comparable sale would typically be considered “overpriced.”

“Pricing to Sell”, then, is the strategy of setting the selling price of a home very close to the pricing established by recent comparable sales. There are some very strong benefits to a “Pricing to Sell” strategy and here are a few to consider:

  • Pricing to sell means you can be  planning to move, rather than waiting. If timelines are not pushing the sale, then waiting may be OK.  However, many times other life events are on hold until the house sale is complete, making life complicated and stressful. When this is the case, it is time to Price to Sell, so you can plan on moving.
  • Save on carrying costs! How much are the taxes, insurance, mortgage payment, HOA dues, and maintenance costs for your home? Typically, a $150,000 home will cost between $1000 and $1500 a month to carry.  Although that does not seem to be a lot, if a seller waits 6 months for the right offer, the seller just invested $6000 – $9000 in a home they intend to leave.
  • Work with the educated, qualified buyers! Educated buyers know the market and are generally well qualified before getting into a Realtor’s car.  Educated buyers also provide problem-free closings.  However, educated buyers will avoid overpriced homes, leaving the seller to deal with the bad, weird or goofy questions that will come from the remaining potential  buyers who may not be as educated or even qualified.
  • Avoid Perception problems. Do you remember that home listed down the street that took forever to sell? Did you ever ask, “What is wrong with that home that it does not sell?”  You can be certain that if you were wondering that, so were the potential buyers. The longer a home stays on the market, the more time there is for new buyers to see the home listed and ask the same question.
  • One of the main reasons to price a home to sell is to avoid appraisal issues. Even if a seller gets lucky and finds a buyer willing to pay above market value for the home, the final sale price is still dependent on the appraised value. If the lender’s appraiser will not support the value, the home will only close at a price the appraiser will support.
  • Avoid price declines in a declining market. On a recent transaction, the seller sold a home, only to have a similar home close down the street over $30,000 lower than the contract price. With the new sale, the seller was forced to sell for lower or cancel the transaction. If the home had been “Priced to Sell” and had the sale competed just 30 days sooner, the seller would not have lost the $30,000.

These are just a few benefits to the “Pricing to Sell” strategy. Do you want to learn more about this or other ways to get the most money from your sale? Our Phoenix AZ Realtors can not only help you with getting your Phoenix Homes for Sale  listed on the Phoenix MLS,  the can help you work out a pricing strategy that will get your home sold as quickly and beneficially as possible. Contact us today at (480) 776-5214 or www.ThompsonGroupAZ.com, and get your home sold!

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Benefits of a Short Sale Versus a Foreclosure

April 12, 2011 By Jamie Leave a Comment

As unfortunate as it is to miss your mortgage payment and to realize that making future mortgage payments is unrealistic, it is important to realize that there are still options. In life there are usually benefits to being responsible, even in terrible situations.

For a home owner, executing a short sale promises many benefits over just locking the doors and turning the home over to the bank as a foreclosure. Here are a few…

•    A owner whose home is lost in foreclosure will not qualify for a FHA/VA mortgage for 7 years. However, if the owner closes a short sale on the same home the seller will be eligible for a FHA/VA backed mortgage after 2 years.
•    An investor whose home is foreclosed upon is ineligible for a Fannie-Mae-backed mortgage for 7 years. If the seller closes a short sale on the same home they will be eligible for a Fannie-Mae-backed mortgage after 2 years.
•    Credit scores for the foreclosed homeowner will drop 250 to 300 points and typically affect credit scores for 3 years, while short sale homeowner could see a drop in credit score of as little as 50 points and typically affect the credit score for 18 months or less.
•    A foreclosure remains as public record on a credit history for 10 years or more while a short sale is generally not reported on credit history.
•    Lastly, qualified sellers receive up to $3000 through the government’s Making Homes Affordable Program. Homeowners with Phoenix Homes for Sale who are foreclosed upon receive nothing.
•    A well-planned short sale should provide for protection to the seller from deficiency judgment. A foreclosure does not provide any protection.

While navigating the short sale process is at times a headache for the home owner, the homeowner is in control of the situation and is able to influence the outcome. The seller gets to make decisions that are in their own best interest.

Are you or someone you know facing a foreclosure? The short sale process may seem embarrassing and difficult – but actually it can help you to sell your Phoenix Arizona Homes and navigate out of a bad situation. Our Phoenix AZ Realtors are not only specialists in searching the Phoenix MLS and other aspects of the Phoenix Real Estate market – they have extensive experience in short sales and the short sale process. Contact us today to discuss your options.

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