Please see our testimonials page here:  http://www.thompsongroupaz.com/client-testimonials/

In contemplating a list price, here are some things to consider:

• Appraisal – What is the potential appraisal value of my home? One of the main reasons to price a home correctly is to avoid appraisal issues. Even if a seller gets lucky and sells a home above the market value, if the lender’s appraiser will not support the sales price value, the home will only close at a price the appraiser will support.
• Comparative Market Analysis – Most Phoenix Real Estate agents are able to perform a Comparative Market Analysis (CMA) when a current appraisal is not available. A comparative market analysis should give an accurate idea of how your home stacks up against comparable sales within a mile radius of your home. All comparable sales should be no older than six months to give a correct value of the current market.
• Pending Home Sales – Phoenix Homes for Sale that are currently under contract waiting to close escrow may indicate where the market is headed. If pending properties listed by Phoenix AZ Realtors are less than previous closings, then the market is declining. If pending properties are higher than previous sales then the market is appreciating.
• Active Home Sales – More important than the price of these listings is the number of the listings available in the Phoenix MLS in your area and where how your home will compete when coming to the market. This is a list of your competitors who seek to steal your buyer. Generally, for a five-mile radius, the best five properties will sell in the next week.
• Location, Conditions, and Terms – Keep in mind that if your home has issues in any of these areas, buyers will want a discount to deal with the issue. If you are able to fix the issue up front, your home is much more likely to return market value.

These are just a few thoughts on pricing your home correctly. Do you want to learn more about this or other ways to get the most money from your sale? Contact us at (480) 776-5214 or www.ThompsonGroupAZ.com.

Be sure to ask your lender to provide you a pre qualification form and not a pre approval. If your lender is saying I will give you a pre approval form, likely your lender did not complete necessary upfront work to purchase a home. And, we all know that not doing your upfront work leads to issues or nightmares later.

The number one thing for a lender to do is over communicate and never keep you guessing about problems that may occur with your home purchase. Remember, costs of inspections will run up to $1000 and you are going to be in the process of packing up to make the move. If your loan officer can not complete the mortgage, then you are out money and do not get to move!

By the way, I work with several great lenders who have closed many transactions. Should you need suggestions, I am here when you are ready.

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Many of these homeowners want to move, but feel trapped and helpless about their situation due to the Phoenix Real Estate market. For some, their property no longer meets their current needs. Others simply can’t afford to stay in their home due to financial hardship. And for many others, the truth is finally setting in. It simply doesn’t make sound financial sense to stay in their home.

No matter the reason, all of these homeowners have the same question: What is the best way to move forward with their lives? For most homeowners facing one or more of these challenges, a short sale is the best solution.

A short sale is when your lender(s) allows you to sell your home for less than the unpaid mortgage(s). Here are the top reasons why doing a short sale in 2012 is likely your best alternative:

• It’s easier than ever. Banks are now embracing short sales. Why? Because they now realize that short sales save them money when compared with the expenses involved in completing foreclosures. The process is more streamlined and less stressful than ever.

• There is absolutely NO cost to you. Your lender pays for all closing costs and commissions for Phoenix AZ Realtors. You may even get additional cash at closing. A recent trend is that some homeowners are getting cash to complete the sale.

• You can stay in the home until the sale is complete and make no mortgage payments unless you choose to make them. Many Phoenix Homes for Sale advertised through the local MLS have homeowners that choose to remain in the home until completion of the sale.

• Arizona is an Anti-Deficiency state. In Arizona your lender is unable to pursue you for a deficiency judgment, if you used the borrowed money to purchase or make improvements to a home. That means that your lender cannot sue you for the difference between your mortgage and the sales price of your home. Situations do vary, so consult an attorney about your specific situation.

• Your debt forgiveness is NOT taxable. Prior to 2008, any mortgage debt forgiven by a bank was taxed as normal income. If you had a $300,000 mortgage and short sold your home for $200,000, then you would owe taxes on the $100,000 shortage that was forgiven by your lender. The Mortgage Forgiveness Debt Relief Act that went into effect in 2008 essentially eliminates this problem.

• The Mortgage Forgiveness Debt Relief Act is expiring soon. At the end of 2012 this Act expires meaning that any debt forgiveness as in the previous example is taxable income.

• A short sale is better on your credit score than foreclosure or bankruptcy. You can purchase a new home sooner than with a foreclosure. You will be eligible, under Fannie Mae guidelines, to buy another Phoenix MLS home in 2 years instead of 5 to 7 years. You are also in a much better position to secure lower rates on all types of loans in the future. Additionally, some employers look at a foreclosure as a sign that you are not dependable. As more employers rely on credit reports for hiring practices, it is best to do all you can to avoid a foreclosure.

• Best of all, you can move on with your life. Get rid of stress. Being upside down on your mortgage is incredibly stressful. A short sale can help you get through the process in a shorter period of time while reducing the emotional and mental stress involved.

Do you owe more than your home is worth? You are not alone. For a private consultation, please contact us at   www.ThompsonGroupAZ.com or (480) 776-5214.

I took a pre-qualified buyer out the last week. After scrubbing the area, I located a fantastic deal for her. The home is upgraded and the seller paid all of my buyer’s closing costs. This home was a gated community with beautiful mountain views, pool, soccer, basketball, clubhouse, children’s play area and plenty of area to ride your bike.

While scrubbing the area, I found a number of other very nice homes between $120,000 and $150,000.  The locations vary from 15-40 minute drive to town. These won’t last long, so please call me at 480-776-5214 to get one!

Our team is expanding and we are looking for Buyer’s Agents to give top quality service to our clients.  If interested, please contact us for an interview!

Qualifications

Arizona Real Estate License

Good Communication Skills

Professional Appearance

Computer and Internet Ability

About Us

Our team provides leads, great marketing, and a supportive team environment

A full-time support staff includes multiple Transaction Coordinators, short sale negotiators, Listing Coordination, Coaching and Marketing Coordinator

As a member of our top producing team at Keller Williams Realty you will learn cutting edge techniques to building solid income and repeat business

Realtor Compensation Based on Experience

Interested? Contact us for an interview

Jamie Thompson (480) 776-5214

• Overall Home Supply – DECREASING. As of March 2012, the total number of Phoenix Homes for Sale active for entire Phoenix MLS is 16,036. This is decline of 50% from March of 2011. The number of sold listings for February is 7,290. Based on the February sales, the inventory of active listings represents a 2.2 month supply. This reduction in supply of Phoenix Homes for Sale allows for significant appreciation of Phoenix Arizona Homes.

• Local ZIP code of 85224 – HOT! The Chandler ZIP code of 85224 shows that in September there were a total number of 41 active real estate listings, with the total number of sold listings coming in at 60. In other words:  there’s less than a month supply for this popular Chandler ZIP code.

• City of Chandler – EVEN HOTTER! If you are looking for a “starter” home in Chandler, inventory is low. For the entire city of Chandler, the number of active listings for single family homes between 1,200 and 1,500 square feet is 57. The number of sold listings in February came in at 61. THAT means there is less than a one month supply of homes.

• Phoenix Home Sales –Year to date, the Phoenix MLS recorded sales of 13,733 homes – or an average of 6,867 homes per month. That’s a stellar start in 2012 for Phoenix AZ Realtors and this data shows buyer demand is continuing to be robust.

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, our goal 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 .