The following information was provided by Marc McCain, Attorney at law, regarding the changes that are coming regarding the Arizona Anti-Deficiency legislation.
A deficiency is the amount that you still owe the bank after the bank forecloses. If you are selling your home short of what you owe, or you are about to experience a [...]
Continue Reading →It’s not a big surprise considering the number of homes that have been selling recently that the inventory has depleted considerably and the availability of affordable housing is drying up after this massive real estate hemorrhage.
I cannot tell the future, but I can see when there’s a break in a pattern, as you will [...]
Continue Reading →A recent post on raincityguide.com got me going about the bottom line when it comes to short sales.
The article, written by Ardell, touches on the apparent importance of the assets that a property owner may have that could affect the bank’s decision regarding whether or not a short sale will be approved.
At present, [...]
Continue Reading →The original article was posted on the NAR website and I have re-posted it here. I don’t typically copy others’ articles since I enjoy writing my own, but for the sake of getting the word out, because I am in the middle of this problem right now, I thought I’d pass it along:
Real estate [...]
Continue Reading →This is a pretty simple concept that can be over complicated by economists. A buyer’s market simply means that it’s better to be buying than selling. Why? Too many houses (supply surplus) and not enough buyers (no reckless lending.)
When a supplier (people selling homes) floods the market with [...]
Continue Reading →So how can I get stinking rich, not just rich?
Well, you could still benefit from that profit of $420,000 if you had rented your home out and put someone else’s money to work for you. But let’s think bigger now.
Let’s say for the sake of argument, that you did have $200,000 in the [...]
Continue Reading →Can you avoid risk by getting rich by borrowing money?
No. There is always risk involved. There is the possibility that your home will not increase in value, in which case you would end up owing more on the house than it is worth. So now what? Sell the house? Not likely. You’ll have to [...]
Continue Reading →The media is drilling you with the same information day after day. “Banks are failing. Unemployment Rates are climbing. It’s impossible to get a loan.”
The truth is, it’s not impossible to get a loan. Why would they say this? Because they continue to look in the rear view mirror at all of the high [...]
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