How do you express that it is not logical to think logically? And why would you even try to do such a thing? Well…let me tell you. When you are an agent in the Phoenix market and you are trying to explain the “short sale process” to your clients all logic is lost! I just […]
Archive | Short Sales
B of A Modification Program…Maybe The Start of Something Good?
By Adele Coffman in Blog, Financing, First Time Home Buyers, Foreclosures, General, Scottsdale Real Estate, Short Sales
Ever since this “mortgage meltdown” many of us in the business have been of the mindset that the only TRUE loan modification program that would make a difference MUST include a PRINCIPAL BALANCE REDUCTION! This has now been proven to be true as a great number of loan modifications that have been granted in the […]
Inspections Are Just Another Round of Negotiations
By Adele Coffman in Blog, Buyers, First Time Home Buyers, Foreclosures, General, New Construction, Phoenix Real Estate, Ramblings and Musings, Sellers, Short Sales
Sellers and buyers need to be educated about the inspection process as it can sometimes make or break a transaction. Our contract here in Arizona gives the buyer a ten day period, after acceptance, to perform any and all inspections and then relay to the seller, in writing, the list of requested repairs. It sounds […]
Gave Your House Back To The Bank?…It May Not Really Be Over!
By Adele Coffman in Blog, Foreclosures, General, Phoenix Real Estate, Sellers, Short Sales, Today’s Market
This “housing crisis” continues to create a number of issues for homeowners even after they have made the hard decision to let the bank take their home back. But maybe not in the way you might think! This particular issue has to do with the Home Owners Association. A recap of the story goes like […]
Another Band-Aid Suggestion From A Bank!!!
If you are 100K plus underwater in your homes value…do you think it would be a good idea to further encumber the property? Aurora Bank thinks so. I was on a call with a client when she contacted her bank yesterday to see about what options would be available for her to stay in her […]
Herding Cats!
By Adele Coffman in Blog, Buyers, Phoenix Real Estate, Ramblings and Musings, Sellers, Short Sales, Uncategorized
I have heard the phrase “It’s like trying to herd cats” twice in the last couple of days. I like this saying. And it seems to me that it is the perfect description of the life of a Realtor in the FUN market we are experiencing…at least here in sunny Arizona. It can relate in […]
What is Shadow Inventory? Well…It Is Something Very REAL!
Would it surprise you to know that currently there are 16,310 parcels in Maricopa County that are owned by the lenders and not listed. Single Family Residents make up only 5067 of them. The largest chunk is vacant land. As of February 5, 2010 there were 49,671 pending foreclosures. That means that the banks have […]
WHAT IF there was a simple fix to the short sale fiasco? What am I missing?
This agent’s solution is too simple for the government to actually consider it…but WHAT IF? Via Amy Jones (Chandler, Arizona RE/Max Excalibur): I’ve been thinking… could there be an easy fix to the short sale industry mess? What if sellers were required to have an approval from their lender PRIOR to listing their home […]
Does It Have To Be This HARD!!???
By Adele Coffman in Blog, Foreclosures, Phoenix Real Estate, Ramblings and Musings, Sellers, Short Sales, Uncategorized
Don’t get me wrong…I still LOVE real estate…but feel so badly for so many folks in the throws of the pain our market is causing right now. I have a client who is the poster child for the Phoenix market right now. He lost his job after 11 years…the company closed it’s doors. His wife […]
Saga of B of A (Countrywide) Short Sale
By Adele Coffman in Blog, Buyers, Phoenix Agents, Phoenix Real Estate, Ramblings and Musings, Sellers, Short Sales, Uncategorized
My client is the most patient man in the world…well maybe not the MOST…but right up there. He has been waiting for short sale approval since December 2008. And as he recently told me after using Google to search “Bank of America Longest Short Sale” …he is NOT the record holder! We originally offered $330K […]