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Short Sales All Locations : Nationwide Real Estate Advice

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Showing results for Short Sales [Clear search]
Thu Apr 25, 2013
Kevin Cloutier answered:
Hi Sjea

You should interview several agents first and pick the one you feel the most comfortable with. Then you should get pre-approved and share your Realtor's info with your lender because they need to be able to communicate with each other to maximize the services each bring you.
The lender will tell you and your Realtor your financing limit and actually provide each of you a letter indicating so.
Then tell your agent all your needs and all your wishes and let them search potential matches for you.
From there you will have your agent set up showings of the properties you are interested in.
It should be an enjoyable experience, so do the first thing right and be very picky who you select as your agent, that's the key.

Good Luck

Kevin Cloutier, Realtor
A HouseSOLD Name
Southern Premier Realty
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0 votes 11 answers Share Flag
Thu Apr 11, 2013
Suzanne MacDowell answered:
I am assuming you are the owner of this home. I would strongly, strongly suggest you talk to a local realtor who is experienced in short sales. I don't know anything about Washington State foreclosure laws, but it would be well worth your while to find out if you can still list the house as a short sale, avoid foreclosure, which will be devastating to your credit rating, and have a more planned, smooth transition into a rental. PLEASE do yourself a favor and find out what your options are before just letting the hosue to go into foreclosure. ... more
0 votes 1 answer Share Flag
Thu Apr 11, 2013
Suzie Marquardt answered:
The list price is where the bank is starting at in Las Vegas. The banks know that there will be multiple offers and the list price will most likely be driven up. I just read an article from the Greater Las Vegas Association of Realtors that Las Vegas Nevada Prices are up 30% from 1 year ago. The price increase is being driven by very low supply and tremendousl demand.
Thank You
Suzie Marquardt
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0 votes 9 answers Share Flag
Sun Jan 5, 2014
Charles Irving 323 239-4273 answered:
Hello, Billy

Thank you for the question and allowing me the opportunity to provide you with service . I have several clients currently looking to buy in Downtown Los Angeles . I provide them with information on short sales , Bank foreclosure, and most importantly pocket listings . I provide them with a free daily and weekly report on available properties currently on the market.

Billy , if you like i would be happy to provide you with similar information ..

It is very possible to buy DTLA for under 250k but you must be pre-approved and ready to move quickly when it hits the market. Recently a beautiful loft hit the market for 180k and it went into pending in a very short time period.
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0 votes 11 answers Share Flag
Thu Apr 11, 2013
Tarique Malik answered:
Once your foreclosed, you can try calling your bank and see if they allow you to pay all your late mortgages and allow you to reschedule your mortgage based on your current financial situation, unfortunately there is no other way to stop it. ... more
0 votes 5 answers Share Flag
Wed Feb 8, 2017
Louis Urbina answered:
It should be 3 years after all the proceedings were finalized. But it also only effects whoever was on the mortgage, so for example if your wife was not on it she would be able to buy. But no worries, millions and millions of people are in the same situation. You'll be able to buy in no time!

Louis Urbina
Real Estate Consultant for EWM
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0 votes 15 answers Share Flag
Tue Jan 21, 2014
Jim Mitchell answered:
Hello cnlmiller. Congratulations on working with a lender before you start searching for a home!

You've put yourself one step closer to purchasing and owning a home!

Some buyers want to immediately start looking for a home without knowing the exact amount of a new mortgage they can qualify for and end up getting disappointed when they finally do get around to talking to a lender. By doing this up-front, you can set realistic expectations and eliminate homes that are outside of your price range and focus only on the homes that you can afford. This saves a TON of time and ENERGY.

Back to your question...the biggest difference in these areas would simply be the location in relation to the rest of the Valley.

Maricopa is appx. 22 miles from Phoenix while the San Tan Valley/Queen Creek area is appx. 35 miles from Phoenix.

Both areas offer some shopping (Maricopa is a bit limited on retail but has some restaurants, supermarkets, etc) but the Queen Creek/San Tan Valley area boasts a fairly new hospital called Banner Ironwood Medical Center that is minutes from most residential communities in that area. The nearest hospital to Maricopa would likely be in Chandler which is at least 20-25 minutes away.

Also, both areas offer newer communities/subdivisions (most being built after 1998) and newer schools.

As for transportation, getting in and out of both Maricopa and San Tan Valley/Queen Creek is a bit limited. HWY 347 is the best bet to travel to and from Maricopa. while US60 to Ironwood RD is the top option for driving from metro Phoenix/Mesa (and the rest of the Valley) to get into San Tan Valley/Queen Creek.

Any one that lives in either area will tell you...there WILL be traffic in the peak times (morning and evening). Expect some average to long delays during those times, but that's not much different than the rest of the Valley.

Homes in either area typically range from $110,000 to $160,000 for a single-family, 3bed/2bath/1500 sq-ft home in a subdivision of other similar homes. Of course, most of these communities also have a homeowner's association (HOA) which comes with certain rules that must be adhered to.

At this time, there are 336 homes listed as 'ACTIVE' on our MLS in Maricopa that are at least 3bedroom/2bathroom/1500 sq-ft. They range from $100,000 up to $789,000. Here's the link to those 336 homes:,12,1

The same search in San Tan Valley/Queen Creek pulls up 419 homes that are 'Active' ; they range from $105,000 up to $1,900,000.
Here's that link:,12,1

Here are some market statistics from Queen Creek:

And from San Tan Valley:

You can see that sales have increased since the first of the year while active listings have declined a bit. The Avg-Price-Sq/FT has also increased during that same time period.

Sales in Maricopa have also increased since JAN 1st as available inventory has declined. There's also been an increase in the Avg-Price-Sq/FT.

Here's the same market data for Maricopa:

I would also ask your lender to check the latest USDA map to ensure that ALL of Maricopa and San Tan Valley are still included in the USDA program. There has been talk of the program borders being 're-written' over the past few months; also have him/her check the availability of funds. I know they get depleted from time to time and it takes weeks or sometimes months for them to replenish the fund.

If for some reason you cannot utilize a USDA loan, there is a fantastic grant program for Pinal County that will grant you up to 3% of the purchase price to use toward an FHA down payment OR your closing costs. It's a grant and does NOT need to be repaid. I can send you information about this program if you like; there are income/credit and debt-ratio limits that must be adhered to, but the program is open to buyers who purchase ANY type of home (bank-owned/REO, short-sale, HUD or REGULAR sale).

Feel free to contact me directly with any questions you may have. I've worked in both areas extensively over the past four years and I'm quite familiar with the specific subdivisions and surrounding areas.

*Keep in mind...there is NO fee to use the services of a 'buyers agent' to assist you in finding a home. That fee (commission) is paid by the SELLER, not YOU, the BUYER. The only costs you'll incur are things such as: loan fees that your lender charges to process your loan, title-escrow fees at closing, inspection fees, HOA fees, etc.

Thanks for the question! You'll love Arizona and all it has to offer!

Jim Mitchell
Realty ONE Group
PH: 480.231.6769
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0 votes 7 answers Share Flag
Thu Apr 11, 2013
Dallas Texas answered:
Against professional code of ethics make a comment. Recommend hire a real estate consultant

Lynn911 Dallas Realtor & Consultant
Multimillion Dollar Sales Producer
972-699-9111 100's of Dallas homes listed for sale or lease

Follow me on Facebook
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0 votes 4 answers Share Flag
Wed Apr 10, 2013
Barry Shapiro answered:
SO, 29 HOMES WITHIN 1/4 MILE OF THE SUBJECT PROPERTY SOLD IN 2012. This isn't all of the homes in the area, and not all sold only during 2012. You are correct, though! Most were either Short Sales or REOs from previous purchases at the height of our local real estate market. CriteriaProperty Type Residential
Status Sold (1/2/2012 to 12/31/2012)
Radius Address 704 Pacific Cove Dr, Port Hueneme, CA 93041 Radius 0.25 Miles
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0 votes 1 answer Share Flag
Wed Apr 17, 2013
Cyndi Marler answered:
Now is a GREAT time to sell. Inventory is low. Buyers are plentiful. A home priced right is selling very quickly in our area. I'd be happy to tell you more.

Give me a call or text at 904-252-6755 or email at ... more
0 votes 6 answers Share Flag
Thu May 9, 2013
Pia Albanese answered:
I am a certified relocation agent with Prudential California Realty. You may contact me, letting me know the details of your search. Neighborhood in LA you are looking into, single family home or apartment , and price range.

My contat info is as follows:

Pia Albanese
Leading Edge Society
Prudential California Realty
9696 Wilshire Blvd. 3rd floor
Beverly Hills, Ca. 90212
(310)248-6478 (bus. dir.)
(310)621-1557 (cell)
Parlo Italiano, Jé parle Français, Hablo Español

Kind regards,

Pia A.
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0 votes 9 answers Share Flag
Wed Apr 10, 2013
Chuck Dunlap answered:
It appears this is a short sale (distressed property) that has just been pre-approved by the seller's lender at that price. Prior to getting an "approval" by the seller's mortgage company, agent and seller try to find a price that will sell - that's usually far below market value for a home that is not distressed. Once the uncertainty of the lender's position is removed, many buyers are more willing to pay market value. It gets more complex and I'd be happy to sit down with you and explain further how short sales work. If you don't already have a buyer's agent, contact me for a no-obligation meeting to talk about how to get you into the home of your choice. ... more
0 votes 2 answers Share Flag
Fri Apr 12, 2013
Walter 'Skip' Kersten answered:
The property is currently in escrow with 'back up offer' status.
Good luck,
0 votes 7 answers Share Flag
Wed Aug 14, 2013
Keith Jean-Pierre answered:
Brand new program came out last week:
0 votes 9 answers Share Flag
Thu Apr 11, 2013
Ray Akers answered:
In some cases, people get caught up in the auction bidding frenzy and pay more than a property is worth. With auctions, you often have no opportunity to inspect the home in advance. You may be buying a home which needs many thousands of dollars in repairs.

Likewise, buying a home that is going into the foreclosure process has pitfalls. Every bank behaves differently, and many lenders drag out the selling process for months and months. More than 2/3rd's of short-sale and pre-foreclosure sales never close.

Your best bet is to buy a home that has already been through the foreclosure process and is available on the market ---listed by a broker. There are some great deals to be found, and you don't have all the drama and headaches associated with a home that is in the middle of the foreclosure process.

Find yourself an experienced agent , that's the place to start. An experienced agent can help you avoid making a big investment mistake.
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0 votes 5 answers Share Flag
Fri Jun 7, 2013
John Straub answered:
Hi George
I live in the Keller area and I can tell you that the trains along 377 run 24/7. I used to live near a train track and I never got used to it..... If you are concerned now I would recommend that you pass on the home today rather than invest a good bit of money. ... more
0 votes 14 answers Share Flag
Wed Apr 10, 2013
Bcspabliss answered:
* I meant in question, home sold at auction and became buyer's agent to his clients on the home in less than two weeks from auction. They semi/flipped in one week and had open house the next! ... more
0 votes 8 answers Share Flag
Sun Jun 30, 2013
Hi Zorger,
I would be happy to help explain some of the details around applying for and getting approved for a mortgage. My first question would be, why are you looking to go through FHA? With those credit scroes, you should be able to qualify for a Fannie Mae backed loan which will have a lower monthly Mortgage Insurance payment associated with it than through FHA.

Please give me a call as I would love to work with you as you purchase a new home for your family.
Julie A. Horvath
Northpointe Bank
Area Manager
555 Metro Place North, Suite 320
Dublin, OH 43017
NMLS ID: 563029
866.901.3570 phone
740.602.3320 mobile
... more
0 votes 18 answers Share Flag
Thu Apr 18, 2013
Christopher Pagli answered:
You don't need more then one agent. What you should do is make offers based on the past 6 months comps and what you truly feel it's worth based on other similar homes you have viewed. Bidding wars are rampant in my area this spring so it could just be that there are other more attractive offers or maybe your offer isn't strong enough. I would have a conversation with your agent to discuss your concern.

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0 votes 21 answers Share Flag
Thu Apr 11, 2013
Ron Thomas answered:
You should factor it is your budget; Taxes and Insurance, while deductible, can be significant:
You will find that almost all Lenders will require the "package" or PITI, Principle, Interest, Taxes and Insurance and your lender will take care of seeing that they are paid. ... more
0 votes 6 answers Share Flag
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