Why are there so many short sales in the Phoenix real estate market?

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This email came in on Friday from a couple in Canada that were searching for homes right on this very site: Why are there so many short sales? This was followed 30 minutes later with another email: This is frustrating.  All of the nice places are short sales.  What are the odds of buying a short sale as a Canadian? Let’s tackle the first question first… Why are there so … [Read more...]

Ask the Broker: Moving to Phoenix, do we rent first or buy?

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A great question came into the “Ask the Broker” inbox this morning: We are moving to Tempe next year (May-June 2011) and have found your site and blogs very useful... and entertaining as well! Thank you! We wanted to buy immediately, i.e. not rent while we look around for a suitable house. Is this a feasible strategy in this market? and if so, when should we plan our first visit? … [Read more...]

Ask the Broker: How fast can you sell my home?

This question just came into the Ask the Broker in-box. We get it all the time… How fast can you sell my home? Are we in a buyers or sellers market? Well, it depends. Depends on what? A myriad of things. . . Where is the home located? Will this be a short sale, or a “traditional” sale? (Short sale meaning you owe more than the home can be sold for. Traditional meaning you have … [Read more...]

I Love My Home. I’m Underwater. What Do I Do?

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A couple of days ago, this question came in from the Ask the Broker page: Question: I love my home .. bought in 2000 for 289,000  re-fi in 2006 at 376000.00 todays worth 305,000 according to zillow. I'm torn, should I short sell and cut my losses or should I keep fast and steady. I'm trying to figure out my home appreciation in 10 years. I reside in peoria zip 85383 What we have here is … [Read more...]

Do I Need a Real Estate Attorney? Maybe, maybe not.

Here’s an email from the “Ask the Broker” page I just received: I am a first time homebuyer.  I am close to settlement/closing and up until now I have done well with understanding all the documents placed in front of me coming from my realtor, mortgage broker and whatnot. Long story, short....do I need a real estate attorney? I've been looking for one and I … [Read more...]

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