The Short Sale Problem In Arizona
Group 4610, Arizona’s Premier Short Sale Team has introduced a new video blog, aptly named myfirstshortsale.com. The focus of this blog is to help home owners get the correct information on short sales and what is actually going on in the real estate market today. Because of their experience in the real estate market and specifically with short sales, they have a better understanding of the facts and figures that hover around the real estate industry.
The focus is directed at helping the home owners determine what is real and what is not real. They have closed more than 90 percent of the short sales that they have taken, with hundreds successfully closed.
A recent article highlighted Arizona’s Treasurer Dean Martin and how he wanted to help improve the short sale process because it has engulfed the state of Arizona. The story noted that approximately one out of every eight homes currently on the market in the Phoenix area are short sale homes. Since this statistic seeemed a bit off, we checked it out. Ironically, we found that there are approximately 54,000 home on the market. More than 19,000 of them are actually short sale listings. We bring this up so that you understand that the information out their is not always correct regarding short sales. Here is the bottom line, there are two things that need improve to help these short sales get closed. First the bank needs to cooperate and more importantly, the real estate agent needs to be educated and experienced. So, as you search for a real estate agent, be sure to ask two specific questions to a real estate agent that you may potentially work with. How many short sales have you closed? What percentage rate have you closed?
Fred Weaver is a founding co-owner of Group 46:10. He has been working in the financing/real estate business for over 7 years. Fred began his real estate career by working for a large wholesale bank as a processor and rate/lock specialist for home mortgages. After 2 years in the business, Fred transferred from the banking side of home loans to the mortgage side. While on the mortgage side of financing, Fred gained experience originating mortgages and processing files for Morgan Capital of Arizona, Inc.
Kevin is a founding co-owner of Group 46:10. He began working in the real estate business in 2007 after spending 8 years working in the finance industry for companies such as Bank One, Green Tree Financial, & GE Capital.
