At Home In Scottsdale | Your Guide to Scottsdale Real Estate

Shailesh Ghimire over at CTX published a post last week that gives some insight into the inner workings of the HR 3221, the Housing and Economic Recovery Act of 2008.  Entitled, How to Take Advantage of the Mortgage Rescue Bill, the article explains how the process works, what the roadblocks could be, and cost of accepting government [...]

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One of the toughest parts of “my job” is going to listing appointments where the home owner is “upside down”, owing more on the home than it would sell at in today’s market.  It’s not just the home owners who purchased in the real estate run-up several years ago that are having problems, owners who [...]

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It’s been hard for me to explain why short sales are just plain difficult, and now a fellow blogger has taken the time to really put it all together.  Frank Llosa’s perspective in “Short Sales Are ‘Fake Listings’ Only 5% Close” is well worth your time to read. 
H/T to Peter Coy at Business Week

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I took a class on Short Sales from Patrick Ritchie early last week and wrote about the seller aspects of a short sale. 
Since Arizona Association of REALTORS® does have a Short Sale Addendum that can be included writing a contract for a short sale, many of the points Patrick suggested are covered in the standard contract language.
Key points [...]

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I took a class on Short Sales yesterday afternoon.  I am working with a first-time home buyer who is interested in purchasing a property that is a short sale now in foreclosure.  He wants to close by the end of January, and with all the stories I’ve been hearing about short sales taking weeks and months to close, I [...]

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