Home Buying in Phoenix>Question Details

Laura,  in Phoenix, AZ

Looking for a realtor who is experienced in short sale/foreclosure properties in the Phoenix area

Asked by Laura, Phoenix, AZ Sun Jan 24, 2010

Hi, I would like to buy several properties, & am looking for an experienced realtor.....

Help the community by answering this question:


I would welcome the opportunity to work with you. I have 20 years experience working with buyers in all parts of Metro Phoenix area. I have extensive training in Short Sales and working for buyers purchasing bank owned properties. You can review several case histories on this link: http://buyersparadise.metrophxhomes.com. Also there are a number of resources on my website such as Short Sales FAQs-you can find that link on the home page.
Very sincerely,
Larry Naso
0 votes Thank Flag Link Tue Jan 26, 2010

You did no mention what section of Phoenix you were looking. If you want to let me know, I can refer you to a specialist for that area. If you are looking in Ahwatukee or west Chandler, I would be happy to answer any of your questions.
0 votes Thank Flag Link Tue Jan 26, 2010
Hey Laura,

Short Sales, Personally I would suggest not wasting a lot of time, unless an Attorney is representing the seller. I could almost care less what the listing agent has to say. They are not in control, no matter what they think.

Now foreclosures are another animal, not to say most short`s become foreclousers. Each Bank Owned home is different, However the same check list applys. There are several issues that can and do go wrong.

In my opinion, the hype is leaving this market, and we will be in a buyers market for sometime. It has a lot to do with the employment situation.

I am a full time experienced Realtor, and would like to apply for the job.

0 votes Thank Flag Link Mon Jan 25, 2010
Mr.P, Other/Just Looking in Arizona
We specialize in trustee sale purchases and supply all tool and properties daily for you and work one on one, and these are best purchases by far with spreads of 50-100k. There are niche price areas that support higher spreads but bids vary from 20k up
Ron 602-350-0113
0 votes Thank Flag Link Mon Jan 25, 2010

You are welcome to contact me so that I can give you some information that will help you to make good decisions.

Exclusive Buyer's Agent
0 votes Thank Flag Link Mon Jan 25, 2010

I will be happy to take some time with you to answer any questions you have. I am an experienced Realtor in Phoenix and the surrounding metro areas. Please visit my website and contact me directly.

0 votes Thank Flag Link Mon Jan 25, 2010
Hi Laura,

Glad to see that you are looking to interview some agents to help you out. Your best bet is to select a few from the responses you get here and contact them directly (either by email or phone). I would be happy to help and would love the opportunity to work for you.

Todd Lee
Prudential American Assoc. RE
Web Reference: http://www.tleerealty.com
0 votes Thank Flag Link Sun Jan 24, 2010
Dear Laura:

There are many Realtors to choose from as the Short Sale is the "normal" sale in the Phoenix Real Estate market during the past 3 years.

Just for some information, I have provided some information on short sales that may be of intereste to you. Not sure if you are selling a short sale home and looking for a new home or interested in buying a home that is a short sale? In either case this information may help you.

Many homeowners/borrowers are not aware that Arizona is a "Non-Deficiency" State for short paid mortgages. This means that, unless there are specific issues in your loan agreement, which only your attorney can advise you on, the lender is prohibited by Arizona Statue 33-729 from pursuing a judgment against the borrower if the home has sold for a deficiency, an amount less than the mortgage balance due to a diminished value of the home (or secured property).

Specifically, Lenders are prohibited by Arizona Statute (33-729) from obtaining deficiency judgments in foreclosures where the land size is 2.5 acres or less and where the property was used as either a single one-family or single two-family dwelling. The actual language from the Arizona Statue follows:

Arizona Statute 33-729. Purchase money mortgage; limitation on liability

A. Except as provided in subsection B, if a mortgage is given to secure the payment of the balance of the purchase price, or to secure a loan to pay all or part of the purchase price, of a parcel of real property of two and one-half acres or less which is limited to and utilized for either a single one-family or single two-family dwelling, the lien of judgment in an action to foreclose such mortgage shall not extend to any other property of the judgment debtor, nor may general execution be issued against the judgment debtor to enforce such judgment, and if the proceeds of the mortgaged real property sold under special execution are insufficient to satisfy the judgment, the judgment may not otherwise be satisfied out of other property of the judgment debtor, notwithstanding any agreement to the contrary.

B. The balance due on a mortgage foreclosure judgment after sale of the mortgaged property shall
constitute a lien against other property of the judgment debtor, general execution may be issued thereon, and the judgment may be otherwise satisfied out of other property of the judgment debtor, if the court determines, after sale upon special execution and upon written application and such notice to the judgment debtor as the court may require, that the sale price was less than the amount of the judgment because of diminution in the value of such real property while such property was in the ownership, possession, or control of the judgment debtor because of voluntary waste committed or permitted by the judgment debtor, not to exceed the amount of diminution in value as determined by such court.

It is my opinion that a professional short sale negotiator shoud represent a seller in working out a full release of the deficiency in writing to allow you to have "peace of mind" that the lender will not pursue payment for the deficiency. The lender is prohibited by law in many situations from doing so. However, if the borrower signs a separate note to he lender for the deficiency, that new note would govern the deficiency balance owed on the debt. A Realtor often does the negotiating for the borrower (and often are successful), but this is a complex issue. The bank's have professional "Loss Mitagators" that try to maximize the bank's return on a short sale to avoid an even larger loss in a foreclosure. You have the law behind to ask for a full release of the deficiency amount.

In my practice, I will bring in a negotiator that will be the advocate for my client in the short sale and will, if the home is sold at current market value, will obtain a deficiency release from the lender. My goal is to get the house sold at market value, the negotiator's job is to get the release for the borrower on the deficiency.

Borrowers need to know that Arizona is a "Non Deficiency" State. Again, an attorney's advice should be obtained if you believe you have special situations outside of the Arizona Statute that I have referred to. Unless, the borrower feels that they have a committed responsibility to pay the deficiency, or are trying to protect their credit rating, or have available funds to pay the deficiency, your Realtor and Short Sale Negotiator have the right to ask the lender for a full release under Arizona Statue 33-729.

I hope this helps you.

Regards, Jeff

Jeff Masich, Realtor®
Arizona Homes and Land
HomeSmart Real Estate
Web Reference: http://ArizonaHomesLand.com
0 votes Thank Flag Link Sun Jan 24, 2010
Hi Laura,
My partner Joe and myself are working with a few investors now that are buying up several properties in the west valley for under $80,000 that are generating a positive cash flow, Their goal is to achieve a minimum 10% cash on cash return and we have been able to secure many properties that meet their criteria. We have set up a few interviews with property management companies as well to handle the rentals and they were very pleased with them. We are also investigating doing some bulk buying with the banks. If you are interested in investing and achieving a positive cash flow, please feel free to contact me for more info.

Best regard,
Lorrie Feld ABR,GRI
0 votes Thank Flag Link Sun Jan 24, 2010
Thank you, Jay, for pointing that out to me - the result of too much coffee & not enough time, today I suppose, however, my recommendation still stands.

Phil Mills at 480-643-0558 and Robert & Christina Holt at 602-481-5281at the Holt Group at RE/MAX Sonoran Hills are an excellent source for Laura to find a Realtor experienced in the short sale & foreclosure market.

Thanks again,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
0 votes Thank Flag Link Sun Jan 24, 2010

Most of the active realtors for the last 3 years have done nothing but list and buy short sales.

I think the batter question would be to work with Realtors who have successfully negotiated and closed short sales.

That being said, I would look for a Realtor specializing in the areas you are interested purchasing properties and discuss what your intention would be. Hold Back and rent, flip or ???

Phoenix is a very large city :-)

Stew Keene - Home Smart Realty
ABR - CNE - MRE - GRI - ePro
HUD foreclosure negotiator and North Phoenix and Scottsdale Area Specialist
Web Reference: http://www.foreclosures.az
0 votes Thank Flag Link Sun Jan 24, 2010
Most of us here are experienced with short sales and foreclosures and will gladly assist you. I will suggest you talk with a few before making your final selection.

Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
0 votes Thank Flag Link Sun Jan 24, 2010
i have been doing shortsales since 1996, long before housing bubble recently and have contacts wth over 100 banks and negotiators. I would be glad to discuss details for your specific situation.
call Ron 602-350-0113 or azshortsalenegotiators .com
0 votes Thank Flag Link Sun Jan 24, 2010
Hi Laura,

I am sorry to hear that you are in the position to where you are contemplating a short sale.

It is important that you work with a real estate professional who is well skilled in the Short Sale process. May I recommend that you contact the Holt Group at RE/MAX Sonoran Hills - http://www.theholtgroupaz.com - they are very good at what they do.

The Holt Group at RE/MAX Sonoran Hills work specifically with families in your situation. They have a team dedicated to moving the paperwork through the bank's Short Sale maze to get the home's sales price approved, while simultaneously marketing your property to find a buyer.

Contact Phil Mills at 480-643-0558 or Robert & Christina Holt at 602-481-5281.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
0 votes Thank Flag Link Sun Jan 24, 2010
Hi Laura,

Be prepared to be bombarded with responses :)

I have been a buyer's agent in the Phoenix area for 12 years and have a great deal of experience in short sales and foreclosures. I also know the valley, cities, and neighborhoods better than any other Realtor I've ever met. I go to great lengths to make sure you find the right home for your needs and lifestyle.

Feel free to call me at 602-388-0200, email me at susan@phxdreamhomes.com or start your home search at http://www.PhxDreamHomes.com

Good Luck!

Susan Ellis
Mira Vista Properties
Web Reference: http://phxdreamhomes.com
0 votes Thank Flag Link Sun Jan 24, 2010
I personally no someone who is a realtor in AZ that I would highly recommend. I actually worked with him as a buyers agent in West Virginia. He actually bought a house for his daughter here in Martinsburg, West Virginia. He's been in the business for many years and was a nice person to work with. Please call me or email me and I will give you his contact information.

Terri L. Evans, GRI Realtor®
Keller Williams Realty
304-261-1186 Cell
Licensed in Virginia & West Virginia
Please visit my website http://www.WinchesterVaHomes.com for Free information.
0 votes Thank Flag Link Sun Jan 24, 2010
I have been in the real estate industry in Phoenix for 25 years. I have many designations that help me keep up to date on what's happening in the industry.for the valley. I would love to interview with you for the job of being your REALTOR. Give me a call at 602-989-1998 and we can visit or e-mail me directly @ suie@sueklima.com..
0 votes Thank Flag Link Sun Jan 24, 2010
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