Financing Foreclosed Homes In Phoenix, Arizona

Pin It

There’s good news and bad news in the real estate market. Unfortunately, many property owners are discovering themselves in tough finance positions. They’re over extended with their mortgages due to accelerating IRs and have no other option but to let their property go into foreclosure. While it’s always sad when someone loses their home, it does open up opportunities for purchasers of houses in Phoenix, Arizona.

Foreclosed properties represent one of the few real estate bargains in the Phoenix market. These houses are very good potential properties for buyers that are prepared to do a little home work before they purchase.

There are different kinds of foreclosures. In part, the different types depend on the stage of the foreclosure. Some foreclosures occur when the owner realises that they have to let the property go, others have just gone to the point the bank is dumping the property. Often properties will be auctioned off at a foreclosure sale.

Auctions are typically the domain of the pro financier. They need to be at the sale and have to have the money available (100%) to buy the home. The better option is to consider those foreclosures that are early in the act – when you’re negotiating directly with the first owner. These owners are inspired to buy, and the acquisition is frequently seen as a positive solution to a tough finance nightmare.

It’s sometimes tough to find these properties. You may hear about foreclosure, but regularly these repossessed houses are at the end stages, and they might not be in satisfactory condition. A better choice is to work with a real estate agent that concentrates on foreclosed property. These agents can help you find properties that are in excellent condition and understand the local, regional and state laws that rule the foreclosure process.

Remember that foreclosure properties aren’t as straightforward as they’ve been portrayed in the media. You can not pick up a property for a song. You will need to make a realistic offer on the property, but you’ll be capable of finding properties at a discount. With a foreclosure, you are more likely to find property at the value of the first loan, not an inflated price to reflect property appreciation levels.

For home buyers that may have been pushed out of the market before, foreclosures represent a rare opportunity to get into the home market. You will find that there are some really nice houses in Phoenix, Arizona that are in foreclosure. This may be the perfect home buying opportunity for you.

Toni Candela believes that everyone deserves an opportunity at the “American Dream” “home possession. That is the reason why she has a commitment to finding fiscal solutions for all of her clients.

Toni loves that she will help folk change their lives simply by giving them info about the finances, credit and mortgage programs. She helps clients find mortgages that work fine for them today, and help them plan for their retirement, all subsidized by the right property opportunity.

She helps her clients open doors to the houses of their dreams.

Phoenix Short Sales Specialist specializes in Short Sales in the Phoenix AZ metro areas. Reasons for short sales include minimum credit damage, capability to acquire a future mortgage, work factors, avoiding foreclosure and low tax liability. We will help you with your Short Sale today!

Phoenix Short Sales Specialist
2 N Central Ave 720
Phoenix, AZ 85004
(480) 648-4929

Leave a Reply

*