Lone Mountain Vista Homes for Sale List
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Lone Mountain Vista Homes for Sale is found in sunny Arizona real estate territory. Arizona homes for sale is some of the best real estate in the country. Find out more by calling an RCP Arizona Real Estate agent.
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Should I consider buying Arizona short sales?
What are the pros and cons of Arizona short sales and should I consider buying one?
Let’s examine the pros and cons of Arizona short sales vs. a regular sale transaction:
1. The asking price on Arizona short sales are often less than that of a typical real estate listing.
2. The homes are usually occupied and are well taken care of.
3. Depending on your current market conditions, short sale listings may be all that are available.
1. The asking price is a little ambiguous. Remember the bank has to be okay with the asking price in the end before they give the approval. If the banks appraiser comes in higher than the list price, then the bank can say they want you to pay the appraised amount.
2. The homes are occupied and are harder to view.
3. The bank may reject the short sale after a few months of waiting. The bank still qualifies the seller to make sure they cannot pay the difference between the asking price and the mortgage amount. Also the price may be too low.
4. Short sales can take a long time. Short sales have been know to take up to a year for approval. Usually it is around three months.
Back to the original question: Should I consider buying Arizona short sales? Well, all in all, it depends on what kind of buyer you are. If you are not in a hurry, and are looking for the best possible deal, then Arizona short sales can be a great way to build wealth or find your dream home.
Should you buy Arizona short sales?
What should you know about Arizona short sales?
If you are looking to buy a home or an investment property in Arizona, where do you start? First of all, you need to identify what type of property you want. If you decide on a single family home versus a four-plex, then your next step is to decide what type of sellers do you want to deal with. Here are a few different types of sellers.
1. Regular seller- just a normal scenario home owner who wishes to sell his/her house and hires a Realtor.
2. Arizona Foreclosure Sale (Trustee sale)- These are banks auctioning off foreclosed properties to the highest bidder.
3. Arizona REO properties- These are properties that did not sell at the auction and the bank then hires a Realtor to sell the home.
4. Arizona Short Sales– These are home owners that want to sell, but they owe more than the house will sell for. They need the banks okay to sell at this low amount.
If you decide you want to pursue a short sale option, there are a few items you will want to know.
A. The short sale process takes a while to complete–typically 3-6 months.
B. A few months into the process the bank could reject the purchase price.
C. The values could change during this process.
D. The asking price is arbitrary unless it is approved.
If you are a person who can wait and are flexible on price, these Arizona short sales may work for you. Otherwise, RCP can help you filter out Arizona short sales in your homes for sale search. Arizona short sales can be tricky. Let us explain in detail all about Arizona short sales! Call us at RCP.
Discover Scottsdale Real Estate
Scottsdale Real Estate
If you are considering Scottsdale as a possible place of residence or a place to invest, you certainly have a large variety to choose from. Scottsdale real estate is comprised of different styles, designs, and methods of construction. Scottsdale real estate has a large percentage of single family homes in relation to commercial or industrial. Investors from Canada and other areas of the world flock to Scottsdale as an ideal place to invest. Investors find that Scottsdale real estate works perfectly with their travel schedules and vacation planning. They can escape the winter in Canada and come to Arizona to get a little sun, play some golf, and check on their real estate investments while they are here.
Scottsdale offers great custom homes, luxury property, and land to build your own if you so desire. Scottsdale horse properties are some of the best in the state. With equestrian centers always close by, Scottsdale lends nicely to the horse enthusiast. To discover how Scottsdale real estate can fit into your life call RCP today. To view all Scottsdale real estate click here.