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Short Sale Stats From The NAR

by Charlie Allred

Short Sales: Recently the NAR or National Association of Realtors reported:

That the first half of 2010 has shown a slight increase in short sales among at risk properties. A 2.3% increase is the average for the nation. While some areas have higher amounts, many areas are showing less than 1% increase.

Short sales are in my opinion the very best way that you can work with your lender to avoid a foreclosure and begin to start over fresh. In most cases you can arrange your short sale in Arizona to eliminate the short amount you owe still on your loan using Arizona’s Anti-Deficiency Statute.

The article goes on to say:

However, market statistics are showing that the process is not being utilized to its fullest, nor is it preventing foreclosures from occurring.  These same statistics show that foreclosure notices reached over 1.9 million in the first 6 months of 2010 and that 1.6 million properties were affected.

And, I would have to agree with this. Look, many people are ashamed to find themselves in a foreclosure type situation and are afraid of what others think. This fear can be so strong that they don’t even look into the prospect of a short sale in Arizona or even educate themselves enough to find out what benefits could be had from the short sale process.

I urge you to not let this be your fate. Look into an Arizona short sale and get the facts today.

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