Arizona Short Sales in Scottsdale

Most people know that Scottsdale Arizona is an upscale area where you will find lavish, elegant homes. Short sales have become popular over the past few months, due to the economy and housing market. What does this mean for you, as a buyer? You can get a home that was most likely beyond your price range previously. When you are dealing with this process, having a certified, reputable and experienced realtor helps make the negotiations much quicker and seamless.

Why would homeowners be selling their homes for prices that are affordable? The economy has caused many people to lose their jobs, and all over the country people are having financial hardships. This happens, even to the wealthy! They find that they cannot pay their mortgage, and don't want to face foreclosure. In Scottsdale, finding a short sale home can mean that you get a lot of house for your money!

An Arizona real estate agent who is certified and experienced in this area can help make what can be a lengthy process much simpler. Why do short sales have such a bad rap? Because it can take a long time, and you are dealing not only with the seller, but their lender and agent as well. When you determine how much you want to offer for the home, the bank makes the decision on whether it is an acceptable amount. This can all get exasperating, but a good agent will represent you to insure that everything runs smoothly.

Foreclosure not only ruins your credit, it can also be very humiliating for some. Those who live in the Scottsdale area are people too, and bad things can happen. When tragedy strikes and a homeowner can no longer afford their home, they must take action. Short sales help them get out from under their mortgage, without completely destroying their credit. While it is a sad situation, it is the chance of a lifetime for a buyer to get a beautiful, lavish home at a steal!

If you are considering purchasing a home in the Scottsdale Arizona area, you would be well advised to have a highly qualified real estate agent help you locate available homes. One who knows the area and what you are willing to spend can help you find a great deal, and make the transaction much less stressful and confusing. Short sales, when handled properly, are a wonderful opportunity for a buyer! Don't let the opportunity slip away from you.

Signature
Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties

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.

Where Houses Are Really Selling- You Still Have Time to Get In

A monthly recap of the housing statistics for March in Phoenix and Scottsdale AZ shows there is a monumental shift happening in our market presently so I want to highlight a few things

Available supply of Single Family Detached homes had a 5% drop to 36,791. Closings continued their strong upward trend at 7139 in the month of March to drop our overall supply to 5 1/4 months. The last time we had over 7000 sales in a month was in the middle of 2006.

Pending sales continue to climb to 12,587, another new high.

Phoenix and the West Valley (Glendale, Peoria, Goodyear) are the best markets in the Valley right now at 4 and 4 1/4 months respectively. The SE Valley Mesa, Tempe, Chandler and Gilbert) at 4 3/4 months is close behind. These markets are all sellers markets! We are seeing a dramatic change in our market.
NOW THESE ARE INTERESTING STATS!

We now have 36791 homes available compared to 45707 in March of 2008, a 20% reduction in available inventory.

We closed 7139 Single Family Homes in March 2009 compared to 4043 in March of 2008, a 77% improvement!

We have closed 16588 homes in the first Quarter of 2009 compared to 9,200 in Q1 2008, an 80% improvement.

We currently have 12,587 pending sales compared to 6400 at this time last year, a 97% increase. This also indicates that we should continue to see an increase in closings. I think that we may go over 8000 closings in the month of April.

Last year at this time we had a 12 month supply of homes and this year, it has shrunk to 5 1/4 months, a sellers market.

When you look at all of the current trends, I think that we are on our way to getting better. It is about time!


Maureen Karpinski
Find your Phoenix Arizona Property at Cactus Country Arizona Homes & Properties



.