Prescott Arizona Area Foreclosure News

Move causes short sale on this upgraded home on an oversized lot in desirable Superstition Hills subdivision in Unit 20. Upgrades include new flooring, fixtures, lighting, and premium paint inside and out. Oversized garage has workshop and classic avocado color washer and dryer. Home has electric baseboard heat AND a gas Trane heat pump.

Looking to [...]

The distressed real estate market in the Prescott area was busy again this week with 18 new homes coming on the market, about one in every five homes being listed in the Prescott Arizona Area MLS system.From the sales side they represented over half of the homes sold, and were over half of the sales [...]

On Tuesday, February 22nd, 2009, Fannie Mae released an announcement with updates to the Servicing Guide used by banks in the U.S.
One of the sections that will impact short sale sellers and REO agents nationwide is the prohibition of banks making the sale of a short sale conditional upon the lowering of commissions.
If you’ve ever [...]

Often we are asked by Prescott, Prescott Valley, and Chino Valley homeowners about their options when they are facing foreclosure.
 We are not lawyers or accountantS and you should consult with professionals in those areas before making any decisions that will affect your credit for at least 7 years.
Here are some of the frequently asked questions [...]

As many homeowners are facing tough decisions on what to do with their homes, many are being forced to consider which is worse for your credit score, a short sale or a foreclosure.
According to the folks over at the Fair Isaac Corporation, FICO, as we know them, there doesn’t seem to be much of a difference.
They are [...]

Help Speed Short Sales Tips
by Cara Heiden, co-president of Wells Fargo Home Mortgage

Short sales can be less frustrating if you start the approval process early.

Although most U.S. families continue to benefit from homeownership, a small group of consumers in areas where home prices have declined is facing a difficult situation. These owners find themselves upside [...]

In an earlier post, Foreclosure/REO/bank-owned or short sale?, about the Prescott and Prescott Valley foreclosure and short sale markets, I was amazed to find how few short sales were actually closing in the Quad-City area.
After doing some more research on this, it seems that some agents are taking short sales without the right skill sets, and others, [...]