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Why Arizona Short Sales = Opportunity

by Charlie Allred

Profit From Arizona Short Sales

In today’s distressed real estate market, good news can emerge. That is, those who are in good financial standing are sitting in the “cat bird’s seat”… They have an enviable position in which profitable real estate transactions are now falling into their laps! Having a strong cash position or the ability to acquire credit or other monetary resources in this market is the investor’s dream as banks continue to agree to more and more short sales in Arizona!

Arizona short sales simply involve purchasing a home for less than the amount owed on the mortgage. At first look, it sounds almost illegal. Why would a lender agree to take less money upon sale of the home than is currently owed?

Simple: Lenders make more money through the process of an Arizona short sale than they would if they took the property into foreclosure! And, it allows the property to leave the lender’s non-performing asset column.

The Media Got One Right

I know, I know… It is rare that anything you see on the news is worth paying attention to, but I have stumbled across a few articles in which the writer is dead on when he says, “It’s a buyers market.” This is particularly true when it comes to the Arizona market and short sales specifically. The thing is… an Arizona short sale is actually a win win win scenario. When performed correctly, (Win #1) it will allow the borrower to get out of a loan that he may be upside down on or in many cases can no longer afford. (Win #2) It will allow the bank to recieve cash on a non performing asset that it can then reinvest or loan out again to a solvent borrower. (Win #3) And, it allows a buyer or investor to pick up a property that has been maintained much better than a property which has be abandoned and neglected at a drastic discount!

Remember, short sales are done with the approval of both the mortgagor and mortgagee.

Arizona Short Sales Offer Real Opportunity

The delinquent borrower usually suggests a short sale because they do not see a way out. Imagine being in this situation and someone comes along with a thing called “short sales” to help you out. That is a tremendous benefit to a borrower’s peace of mind for starters. Not to mention that in many cases the borrower many not be held liable for the balance of the loan! And, will take a much less painful hit on his credit report over foreclosure. Opportunity offered by Arizona short sales is immense.

For investors and buyers, you have the opportunity to not only acquire another a property, but to provide housing in the form of a high quality rental to a family who may not be able to qualify for a loan. Then of course you will have the opportunity to collect rent and take more tax deductions.

The communities these homes are found in have the opportunity to benefit as well. Rather than looking across the street and seeing an abandoned home with weeds on the front lawn and broken windows, the community will have a well maintained family home that will provide a piece of the overall “nice neighborhood” pie.

As you can see, we can all benefit from Arizona short sales many ways.  Where do you see opportunity? Take a moment now and learn more about the short sale process. Get all the facts and decide where you can help yourself or someone else as we move through this economy.

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