Phoenix Short Sales Information

Thinking about listing your home as a short sale?

There is a lot of misinformation out there about short sales. A short sale is not like a traditional, normal real estate sale. You need an experienced short sale agent. And we have several at Thompson’s Realty. If you’d like to speak to a Phoenix short sale expert, please complete the brief form below and we’ll have an agent — one well-versed in getting short sale homes closed — contact you.

Looking for information on short sales in Ph0enix? Just scroll past the form below and you’ll see a list of every article posted here about buying and selling short sale property.

Thinking about short selling your Phoenix home?

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Short Sale Articles and Information:

  • Phoenix Residential Real Estate Distressed Market Update: December 2013 (0)I was talking with an investor client that had purchased a few homes through me in the past. He had heard that inventory was rising in the Phoenix metro area and he wanted to know if prices had dropped and if it would be possible to get a "good deal with a decent rate of…
  • What To Expect After a Short Sale (121)A wise mentor of mine once taught me this concept: Crisis + Time = Humor Over the last few years, more than just a few homeowners have went through the short sale process - and from what I can put together, there will be people trying to decide whether a short sale is right for…
  • Contracts are neither moral nor immoral (220)Are short sales moral? I am going to talk a little bit about the “moral side” of a short sale. My favorite part of this story... the twist at the end that makes the whole thing laughable. I was reading this article on CNBC this weekend about short sales and felt I needed to jump…
  • Stop the Insanity! Ridiculous Bank Practices on Short Sales (43)Short-sale-banks-being-stupid_thumb.jpgThinking about buying a short sale in Phoenix (or anywhere else)? It’s not for the faint of heart. Or anyone that wants to apply logic, reasoning, common sense or business fundamentals to the decisions that banks make on short sales. Here is a real life situation that is coming to fruition today in the wild…
  • Phoenix Short Sales: Short Sale Seller Advisory (20)Considering short selling your Phoenix home? You should take a look at the Short Sale Sellers Advisory -- a great document full of info on short selling.
  • How a Flight Delay is Like Buying a Short Sale (27)Flight delays suck. You know what sucks worse? Waiting for that call from a lender that the offer you made on a short sale has been approved...
  • Short Selling Your House: Getting a Mortgage After Foreclosure (13)How long after short selling your house or going through foreclosure does it take before you can get another mortgage? Not as long as you might think if you hustle...
  • Can I Withdraw an Offer on a Short Sale Before the Bank Approves it? (16)Can I cancel a short sale contract if the lender hasn't yet approved the sale? Maybe, maybe not. It depends on where you live, and what is in your contract.
  • Short Selling Your House: Walking Away? (14)Short selling your house is an individual decision that no one can tell you what to do. If you have negative equity, there is no rush - it isn't like property values are coming back anytime soon.
  • Short Selling Your House: Do You Need A Lawyer? (21)One of the more common questions that people have asked me over the last year or two is "do you think I need a lawyer?"
  • Short Selling Your House: Making The Decision (12)Making the decision to short sell your house will at least make your stress level decrease. Generally speaking. Or at least keep you from choking someone.
  • Thinking About Short Selling Your House? What No One Will Tell You. (25)When short selling your house, make sure that you know that it will be hard on your relationship. Short selling your house is very stressful - and chances are your wife will want to kill you at least once during the process.
  • What is a Short Sale? (31)Considering selling your home short? Buying a short sale? Don't know what the heck a short sale even is? Here is some info for you from both the buyers and sellers perspective. . .
  • Short Sales and Stupid Lenders (40)Sigh…. Short sales, where a home owner is selling their home for less than what is owed on it, can be maddeningly frustrating for all involved. The problem is, mortgage lenders have to approve every short sale. This makes sense, as they are the ones taking it in the shorts and getting paid less than…
  • Short Sales and REOs from the Buyer’s Perspective (33)Sometimes I think Heather Barr at NorthPhoenixAgent.com has access to my article drafts. But given that I don’t have drafts, it must be coincidence. Or maybe it’s just that brilliant minds think alike… Today Heather penned a great article, Not What It Seems, about the trials and tribulations of short sales in the Phoenix real estate…
  • Why Won’t Anyone List My Short Sale? (27)From the “Ask the Broker” inbox: Help. I am headed down the foreclosure road with a house in Mesa that is now vacant. How do I find an agent that is willing to take on the tedious job of a short sale? I find that once I mention my situation no one wants to help…
  • Short Sales: The Buck Stops at the Lender (25)Short sales — where the homeowner owes more on their loan than the home can be sold for — are popping up a lot. In the MLS, in conversation, and even in the Wall Street Journal. Yesterday, the WSJ posted a good article titled, Why Lenders Are Leery Of Short Sales. The subtitle is fitting:…
  • Do It Yourself Short Sale (13)A couple of days ago, someone found this blog using the search term "do it yourself help +short sale". Yikes. Here's the deal. If you want to "go FSBO" -- ie: sell your home "For Sale By Owner" -- more power to you. As a real estate agent, of course I'd prefer for you not…
  • Short Sale Tax Relief: Update on the Mortgage Forgiveness Debt Relief Act / Mortgage Cancellation Relief Act (51)Disclaimer: I am by no means an attorney, a tax professional, nor a politician. What follows is my interpretation of the Mortgage Forgiveness Debt Relief Act of 2007. As always, consult your attorney and tax professional for specific questions! And if you think it will help to consult your politician, well... knock yourself out! My…
  • Short Sale From Hell – The Saga Continues… (31)Last week I posted The Short Sale From Hell -- about the trials and tribulations of dealing with a short sale, and in particular the lender, Ocwen. On Friday, the deal closed. Ocwen got their money, and I got my (substantially reduced) commission check. So all is well, right? Well . . . not so…
  • The Short Sale From Hell (45)Several words come to my mind when I hear the words "short sale". Several aren't fit for print... others include headache, excruciating, and "I quit". A "short sale" is one in which the proceeds will not cover the owner's loan(s). The lender in other words, isn't going to get paid the full amount they are…