Phoenix Short Sales, Foreclosure, Distressed, REO, Bank Owned Properties

Short Sale help for troubled homeowners 

Many Phoenix homeowners walk away from their homes allowing them to go into foreclosure without considering the alternatives and options available to them.  This is unfortunate and unnecessary. Those facing financial hardship should owe it to themselves to become acquainted with the options.

Your First Steps to Avoid Foreclosure

7 Short Sale Myths      Foreclosure vs. Short Sale

Short Sale and Deed in Lieu 

Questions regarding anti-deficiency laws and tax implications are important considerations and are best answered by a qualified real estate attorney and CPA familiar with Arizona anti-deficiency statutes.  Click on Questions about Phoenix Short Sales.

Recent estimates calculate that 51% of Phoenix area homeowners that have a mortgage owe more than the value of their home. For this reason, it is critical that Phoenix homeowners understand their options to foreclosure.

Bank owned properties that have been through the foreclosure process represent some of the best values in the Phoenix area. They are also known as REO or lender owned properties.  Click here to request automatic updates on bank owned foreclosure or REO properties for homes in the Phoenix area including Scottsdale, Chandler, Gilbert, Mesa, Queen Creek, Peoria, Paradise Valley, Surprise, Avondale, and Goodyear.

Use the following specific searches of foreclosure properties:

Luxury Bank Owned Homes    (Over $500K)    RSS Feed

Waterfront Bank Owned Homes

Schedule a showing : If you would like to see any of the houses or properties shown in the searches, fill out the attached form.  If you are looking for a specific type of foreclosure, REO, or bankowned property, describe it here and I'll find it for you.

Queen Creek Bank Owned

Click to see Gilbert Bank Owned REO Property

Foreclosed, lender or bank owned, REO properties are not the same as short sales.  Short sales take weeks or months to get a response by the bank.  The price you see on a short sale listing most likely has not been agreed upon by the bank or lender.  They want to see an offer first before indicating what price they will accept.  A lender or bank will respond in 2 - 5 business days on foreclosures, and the price you see on the listing has been approved by the bank or lender, and all liens have been cleared through the foreclosure process.

Can a short sale help you?

Foreclosure can be devastating to your credit.  There is another option.  If you qualify, banks will consider a short sale for your home.  A short sale is a situation where if your house sells at the current market value, the proceeds will not be sufficient to cover the loan balance.  In order to better serve my clients, I recently completed the course material to receive the CDPE designation (Certified Distressed Property Expert). Please call me with any questions regarding short sales.

If you would like to know more about this option, please fill out this short sale form.  More and more homeowners find themselves confronted with a difficult situation when they encounter a financial hardship and need to sell their home. In all too many situations they have negative equity and must consider a short sale.  To learn more about the options available to those in this situation, click on Help For Distressed Homeowners.