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Arizona Short Sale Pressures Continue To Mount

by Charlie Allred

Most recent Case Shiller report shows prices of homes in February fell another 3.3% which is just about equal to the post crash level reached in April 2009. This is the 7th straight month of downward pressure.

Overall home prices are down 32% nationally from their peaks in May of 2006.

In Phoenix, home prices fell 8.4% in the last year, more than any other major city… With Minneapolis close behind with a 8.3% plunge along with Chicago which posted negative 7.6%.

And, with all this… Short sale pressures continue to mount. More home owners here in the valley feel as though they may never realize a positive situation between their homes and their mortgages. And, as is usual, many are looking for a way out their pridicament.

Arizona short sales have become that way out for many… some are upside down and unable to continue with payments and others are NOT unable to pay but don’t see their equity returning!

The Arizona short sale has become the tool of choice for both scenarios. This has created a long line of rabbid real estate agents looking to jump on the “Arizona short sale bandwagon” in order to make a quick buck. We are seeing more advertising and more competition online for short sale clientele.

Short sales in Arizona are nothing new… And our firm has been handling them for years now. So, if you are curious about getting short sale help or just wondering what all is involved in the process itself, you can learn more about Arizona short sale help by reading through our resources page.

 

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