Monday, September 14, 2009

Scottsdale, AZ – How Short Sales Help You Snag a Great Deal

It's certainly no secret that the housing market has plummeted over the past couple of years. What does this mean to you, if you are looking to buy an upscale home? In Scottsdale, a well qualified realtor who is experienced with short sales can help you get the home of your dreams, at a greatly reduced price. There has never been a better time to buy! You do need guidance through this process, as it can get lengthy and you want to complete the deal as soon as possible.

Why can this take so much time? When you decide to purchase a home through a short sale, you will be dealing with the seller, their agent and the sellers lender. The bank must make the decision on whether they will accept the amount you are willing to pay. If you have an experienced and certified distressed property Arizona realtor to represent you, they will handle the negotiations for you which can make the entire process much quicker, increase your chances of a successful transaction – and definitely less stressful on you.

Scottsdale is known for elegant, lavish, upscale homes. The entire area is absolutely gorgeous, but out of many peoples price range. Homeowners who live in the area are having a difficult time paying their mortgages, just as people in other areas are. To avoid foreclosure and completely ruining their credit, they will often decide to go the short sale route. This helps the owner save face, and decreases the damage done to their credit.

To you as a buyer, this means a savings of as much as 40% on the value of a home. For instance, if a home would have sold for $400,000 before the housing market crashed, you may now be able to purchase that home for approximately $240,000 - $250,000. Quite a substantial savings! In essence, this means that for many buyers who would not have otherwise been able to afford an upscale home before, many can now.

The process can take anywhere from two to six months to complete, but much of it depends upon whether you have someone to help you negotiate. When you try handle the process yourself, it will definitely take longer. If you are interested in learning how short sale homes in Scottsdale may be an affordable option for you, contact a reputable Arizona realtor who knows the process inside and out! With the time and hassle saved, you will be glad you did.

No comments: