Short Sales

According to the Case-Shiller Price Index, home prices in most areas of Phoenix declined over 30% during 2008.  That means now is the best time to BUY property in Phoenix in years.   

BUT WHAT IF YOU NEED TO SELL?  And what if the recent market decline means you now owe more than your home is worth? Well, first of all, don't feel like the Lone Ranger.  There are many people in the same boat.  If you need to move on with your life, a Short Sale may be the best option for you.  In a Short Sale, the lender(s) agree to accet a loan payoff that is less than what they are owed.  Usually, a Short Sale has far less impact on your credit than a foreclosure would have.  To determine if a Short Sale may be an option you should consider, call Maureen Thelen at Urban Premises (602-791-0898) so we can discuss how the available options might work in your specific situation.  Some items you will need to gather to begin the short sale process are:

If you happen to be a buyer thinking about trying to get a good deal purchasing a property, some (but far from all) of the short sale properties now on the market might be candidates worth considering.  Call Maureen Thelen at Urban Premises (602-791-0898) if you would like a Buyer Broker to assist you in finding short sale properties that have the best chance of closing successfully.