Short Sales in Phoenix, Arizona

About two weeks ago I went to a short sale seminar sponsored by Grand Canyon Title company. I learned a lot in this seminar. In this market real estate agents are increasingly being asked questions on short sales.

Dan Forbes (Real Estate Zoo) posted “10 Short Sale Questions Answered by a Bank Loss Mitigator” over on his Active Rain Blog. Dan summarizes a conference call he was on with a bank loss mitigation officer. Here is a snapshot:

2. How many Short Sale files are you working on?  Answer: I am currently working on 400 files. 

4. Does the type of hardship the Borrower is facing make a difference? Answer: Not really. 

6. Do you simply reject low offers?  Answer: Not really.  We do have certain targets we are trying to reach.

9. Do you require a home to be listed before accepting a short sale?  Answer: No the home doesn’t have to be listed.  We will talk directly with the buyer/investor.  We don’t usually talk with the borrower.

You’ll have to visit his blog for the complete run down.

Below are some other relvant blog pieces on the emerging short sale phenomenon:

  1. The Resurgance of Short Sales (Greater Tucson Real Estate Blog – Valorie Bradley)
  2. Preparing for a Short Sale in Phoenix Real Estate (Phoenix Arizona Real Estate – Jonathon Dalton)
  3. Troubled Homeowners Are Finding a New Way to Sell (AZ Republic – H/T Arizona Real Estate Notebook)

This site is for informational purposes only. It is not sponsored or in any way affiliated with the government. If you are in need of a mortgage loan, consult with a licensed mortgage professional. All fair housing and equal housing opportunity laws apply when applying for a mortgage or buying a home. Copyright 2012.