I am a homeowner in Sunrise at Harbor Shores. Homes similar to mine have recently sold for $110K, and I owe $200K.

Asked by Readyformove, Coldwater Springs, Avondale, AZ Sat Nov 17, 2012

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Shawn Scray, Agent, Green Bay, WI
Tue Nov 20, 2012
Hello,

The first thing I wold help you do is determine the value of your house. You must first know the value of your property before you make any decisions on a short sale. I'd love the opportunity to create a list of comparable properties and help you determine what your house is worth. Free with no obligations. After that, we can determine what the best way is to sell the property if you would like or I can help you rent it out if you're still interested in moving and want to keep it as an investment property. There are a lot of variables to consider so please don't just rush into a short sale because someone else's house sold for less. Please feel free to call me directly at 623-696-0228 with any other questions. I'm here to help.

Shawn Scray
Sterling Fine Properties
shawns@sterlingfineproperties.com
0 votes
Sonny Shriva…, Agent, Goodyear, AZ
Sun Nov 18, 2012
Readyformove,

If you owe more than your home is worth, you may be eligible for a short sale. In a short sale, we list your home at market value (or at a price approved by your lender) and ask your lender to forgive any remaining debt (difference between the sale proceeds and your loan payoff amount). Over the course of the short sale, we negotiate with your lender and secure, in writing, a guarantee from your lender that they will release you from your mortgage obligation. Depending on the type and number of loans, some of those loans may not simply "go away" after a foreclosure - a short sale is the only way to properly settle those debts if you want to avoid the possibility of collections or even a lawsuit.

My partner and I sell an average of 50+ homes annually, most of which are short sales. We have an expert negotiator on our team - that's all he does, all day long, and he also was formerly the head of Bank of America's Fannie Mae short sale team. A professional with insider contacts will be negotiating your short sale - not an agent - and at no cost to you. We also have a partner attorney who can offer her expert assistance if we encounter an issue with your lender or if you need the additional security of having an attorney review your documents.

I recommend that you interview at least three agents before you make a decision. Make sure they have at least an SFR designation and have extensive experience in short sales. Short sales are complicated and can have huge legal and tax ramifications for the seller if they are not handled properly. Most agents are unfamiliar with the tax side of short sales, and we have accountants who can assist you with that. We are a one-stop shop for all of your short sale needs. We hold SFR, GRI and CSSN designations and have been recognized by the Phoenix Business Journal for our accomplishments as the top 3% agents in the valley. Please give me a call at 623-824-4275 if you'd like to discuss your options further.
0 votes
Thank you, however, I do not want to go that route. How long do you anticipate it will be before the west valley will recover, and I will be able to sell, and make a profit, as well?
Flag Sun Nov 18, 2012
Jennie Miller…, Agent, Phoenix, AZ
Sat Nov 17, 2012
I am a very experienced short sale agent if you are interested in looking at your short sale options.
0 votes
Thank you Jennie, but I really don't want to go that route. Fortunately, I can still afford my home and I love my home, just not the community anymore. It has really changed since I bought my home new here about 10 years ago. So I am trying to rent my home out, and then sale when the values increase. Do you have any idea when I should be able to sale,...... say, 3 - 4 years from now?????????
Flag Sat Nov 17, 2012
Doug McVinua, Agent, Gilbert, AZ
Sat Nov 17, 2012
How could we help you? Not exactly sure what your question is?

If you want to move and owe more than the home is worth you could consider keeping it and renting it out, sell it and make up the shortfall or do a Short Sale.

The options all have pro's and cons to consider that we could explore with you.

How could we be of assistance?
0 votes
Hello,

Thanks for your reply. I would love to sell now, but am trying to rent my home out. I still love the house, not so much the community any more. I know the values are recovering, but how much longer do you think I will have to wait before I can sell? I currently owe 200K, and houses similar to mine here at Sunrise at Harbor Shores have recently sold for about 110K/130K. Thanks for your reply
Flag Sat Nov 17, 2012
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