The North Valley Team of Phoenix Arizona

Short Sale Condo Listing in Mesa Arizona

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CURRENTLY OFF MARKET

Benefit from a Short Sale Listing with a Seasoned Short Sale Negotiator

This Mesa condo for sale is a short sale listing that is being handled by a seasoned short sale negotiator and realtor. If you have been looking for a bank owned or a short sale deal that will get you a great price on a Mesa condominium, this is that deal.

This Mesa condo short sale listing is being negotiated by a seasoned short sale realtor so this is a very real opportunity for a buyer.This ground level condominium is located in the heart of Mesa Arizona and is light and bright with French doors leading to a very charming patio that has extra storage for the buyer.

The complex within which this Mesa condo for sale lies, has been very well maintained and is within easy walking distance to the community pools and spa.

And the fact that this home is close to the Chicago Cubs Spring training camp only adds additional value. This property is also close to the Valley Metro Light Rail and is approximately 15 minutes from Arizona State University and Sky Harbor Airport. The homeowners association dues are low and include city water.

Do not miss out on this Mesa condo short sale listing opportunity!

Phoenix Arizona Housing Crisis Solutions for Distressed Home Owners

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If you are a Phoenix Arizona home buyer right now you already know that the Phoenix real estate market has heated up again. Low supply and high demand is creating multiple offer situations on most Phoenix homes for sale listings. On more than one occasion I have gone on day 1 to a new listing only to find 5-10 realtors with clients waiting outside to show property. Multiple offers drive up price and that will result in some appreciation in 2012 in my opinion.

We help identify solutions for distressed homeowners in the Phoenix real estate market.There are other things helping the Arizona housing crisis. The time lines for short sales has shortened with most lenders. They have streamlined their processes. One example of this is Fannie Mae was just given more authority by 5 major mortgage insurers to approve a short sale without their approval. Prior to this, the mortgage insurance approval process could add an additional 2-4 week to the timeline. This will really help and shows the intent of institutions and mortgage insurers to want to complete short sales in a more efficient time frame.

Some lenders are offering large incentives to homeowners to complete Phoenix short sale home transactions. I just completed a Phoenix short sale offered by Chase and my sellers received $20,000 at closing as a short sale incentive from lender. These offers vary and depend greatly on which investor is backing the note. Chase is not giving everybody $20,0000.

Bank of America has the cooperative short sale where they claim will shorten the short sale process and HAFA is the government incentive short sale program offering $3,000 to homeowners who qualify.

The recent revisions for Harp 2.0 should help thousands of homeowners being to now refinance their underwater homes. The extension of this to non owner-occupied homes will really help Phoenix real estate investors who are upside down from walking away.

If you feel as though you are a distressed homeowner and you would like more information on Harp 2.0 or want to talk about Phoenix short sales, visit our Distressed Homeowner Rescue website or just give me a call at 480-201-4185 and I will be happy to discuss your situation and help you identify and understand all of your options.

June 2012 Distressed Property Report for Greater Phoenix Arizona

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The Arizona MLS Distressed Property Report is for homes in the Metropolitan Phoenix area as well as residential real estate lying outside the Phoenix Valley perimeter.

There are three interactive maps included in this report, each specific to a type of distressed property: short sales, foreclosures, and a map of all distressed properties. Each map is a snapshot of the active distressed property as of June 30, and is grouped by area postal code. The percentage of active properties to distressed properties can be displayed by clicking on a dot.

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Phoenix Arizona Short Sale Homes Mortgage Debt Relief Act Expires at End of 2012

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In 2007, an instrument was designed which would allow taxpaying homeowners the ability to exclude having to show certain discharged debt relating to their principal residence as income when filing their tax returns. This instrument is named The Mortgage Debt Relief Act of 2007 and states that any debt that has been reduced in connection with a mortgage restructuring, a foreclosure, or a short sale, qualifies for the relief under this act.

Through this Mortgage Debt Relief Act, a homeowner may have as much as $2 million of debt forgiven ($1 million if married filing separately) depending on the homeowner’s unique set of circumstances. What Phoenix homeowners may not realize is that the Act only applies to debt which is forgiven within the calendar years of 2007, 2008, 2009, 2010, 2011 and 2012.

Decide on the short sale of your Phoenix home because debt forgiveness ends in 2012.If you own Phoenix real estate as a primary residence and you have been considering the short sale of your home, you need to make a determination as soon as possible because if you decide to short sale your property and you want to reduce your associated tax liability, you need to settle the short sale transaction and associated agreement for debt forgiveness before to the end of 2012.

Due to this narrowing window of opportunity, there will surely be a big push in the real estate industry to get homeowners considering the short sale of their house to move quickly; we would not be surprised to see a backup of transaction processing within the distressed homeowner departments of many large banks due to this timeline crunch.

If you have decided to short sale your Phoenix home, make sure you first consult a professional tax specialist. Then, contact our team of Phoenix short sale specialist real estate agents for your home valuation and listing. We handle all aspects related to the listing and COE of these transactions, from the initial property listing through the negotiation of all attached debt and final closing of escrow.

The Bank of America Short Sale Relocation Assistance Program

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Bank of America is excited to announce that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 – $30,000* in relocation assistance and owe no more on their mortgage with the sale of their property.

The Bank of America Short Sale Relocation Assistance Program.

If you own a Metropolitan Phoenix or Scottsdale home, and your mortgage is with Bank of America, do not miss this limited-time offer to get the help you need by initiating a preapproved price short sale today. Call us IMMEDIATELY so we can help get your home preapproved and listed for a short sale.

Do you already have an active preapproved price short sale? Don’t worry; Bank of America is reviewing all current, in-process preapproved price short sale agreements to determine who is eligible for this limited-time offer. Eligible homeowners actively participating in a preapproved price short sale program (such as HAFA or Bank of America’s proprietary program) will receive a letter if they qualify for the additional relocation assistance. The relocation assistance will be paid at closing.

If you have interest in this program, contact us IMMEDIATELY. This is a LIMITED TIME OFFER from Bank of America.

*The relocation assistance payment is calculated based on the appraised value of the homeowner’s property. The total amount will be no less than $2,500, but no more than $30,000. The payment will be delivered at the time of closing if the homeowner complies with all terms and conditions of the Short Sale Agreement, which includes but are not limited to the following: a full walk-through appraisal must be completed and the homeowner must satisfy all junior liens and provide clear title for the property (the relocation assistance payment can be used to clear those liens). The short sale must close by September 26, 2013. If the homeowner does not comply with all terms and conditions of the Short Sale Agreement, they will not receive the relocation assistance payment. The amount of any deficiency and relocation assistance will be reported to the Internal Revenue Service (IRS) on the appropriate 1099 Form or Forms. We suggest that the homeowner contact the IRS or their tax preparer to determine if they have any tax liability.

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