The Tempe real estate market is still giving sellers headaches. Here is the only real positive:
Monthly Sales Days on Market is down quite compared to last month, quarter, and the last two years

There are other positives (green arrows) but they seem so minuscule to me that you can’t really say anything is turning around with it. We are still at 5 months of inventory, which is generally considered a sellers market, but the prices are so cheap (and falling) that this is definitely a time for buyers. Click on the image to see the enlarged statistics. Also, check out our Statistic Definitions & Explanations page for clarification.

If you find your self hurting to make your mortgage payments, you do have options. Don’t hesitate to give us a call and see what is available to you. We help people create a game plan for both Loan Modifications and Short Sales in the Tempe area. (480) 389-5199 Or just click the call me button in the sidebar

Post from: The Phoenix Real Estate Guide

Tempe Real Estate Snapshot For October 22nd 2009

I take about 10 calls a day from people just like you. You’re situation is not unique. If you live in Maricopa County Arizona in 2009, you are not alone. You bought your home/refinanced sometime in the last 3-5 years. You owe upwards of 3 times what the home could sell for on the market today.

I recently heard a statistic: More then 50% of the homes foreclosed on by the lien holders, did so without any communication from the homeowner.

I don’t have a source for that statistic, but it’s easy enough to believe. When I take calls from distressed homeowners, one of the first questions I ask is “Have you talked to your lender about reducing payments?” I would guess 80% of the time is NO. The other 20% say they have but they are unable/unwilling to do anything substantial for them.

It’s time to buckle down and figure how you are going to get out of this mess. No matter who caused the mess, it’s your responsibility to get you and your family out of this situation with a little scarring as possible.

What you need to do is develop a game plan. You can not do that if you don’t know your options. I have heard horror stories of people accepting a deal from the bank that puts them in a worse financial position then they are already in. Why? They didn’t know all of their options!

A good game plan is going to lay out your current situation, your options and the consequences (good and bad).
Then it’s time to commit. It’s time to move forward.

If you want to know your options about avoiding foreclosure, give me a call (480) 389-5199

Post from: The Phoenix Real Estate Guide

Get Off Your A** And Do Something

Short sales are happening. They are all around us and the reality is that they are not going away anytime soon. As of today, there are over 12,000 active short sales in the greater phoenix area. So the stigma is gone, or should be gone, when you are the one having to do a short sale.

The biggest problem I have seen in my experience is when a home owner waits until it is too late before calling us. We’ve had someone call us a week before the foreclosure auction. Sometimes you can get an extension, but why put yourself further on the bad side of the bank? When is the best time to call us? When you know you are going to miss your first payment. This allows you to get everything prepared, and ready to move when the time comes.

Your first step is to call us. We need to sit down and discuss your options. Don’t hesitate to get that appointment set. Once we’ve met, we quickly move to get your home sold and your short sale negotiated.

Call us today to set up an appointment: 971-235-9561

Post from: The Phoenix Real Estate Guide

Phoenix Short Sales: Why wait until its too late?