Security Acres Homes for Sale List
Security Acres Homes for Sale Currently Active
Security Acres Homes for Sale are available for showings. Call us at RCP and an Arizona Real Estate Agent can make it happen. Arizona homes for sale can also be searched in a customizable manner by clicking the “Search Homes for Sale” button.
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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.
Scottsdale Real Estate Trends and Factors Effecting Value
Scottsdale Real Estate Trends and Factors Effecting Supply and Demand
Scottsdale real estate trends & factors– this is a big topic, but we would like to touch on a few factors less talked about. Some of the major factors we see effecting Arizona real estate are:
Canadian buyers– when the Canadian dollar is strong in relation to the US dollar, the demand for Arizona homes will increase, supply then goes down, and Scottsdale real estate prices rise.
Snowbirds– the concept is similar as the Canadians, however, as more Baby Boomers retire, they seek out Scottsdale Arizona real estate due to the inviting weather.
Interest Rates– When interest rates fall more people can afford a house. The more people that can afford houses, the more houses are sold and the values go up.
US Dollar Strength in the World Market– this can effect Scottsdale real estate. As inflation goes up, the more people are paying for gas and food and the less money they have to put toward a real estate purchase or a mortgage. This means less buyers and the prices of real estate trends down. On the other hand, you have the devaluing of the dollar. As an alternative to holding stocks, that may be artificially inflated, people turn to gold, silver, or other real commodities like real estate. This can create more buyers and drive the prices down. Looking at these factors can help illustrate how the low income families will be able to afford less and not be able to buy real estate, while at the same time, the more affluent, who aren’t as effected by gas and food prices tend to buy more real estate to protect themselves against a devaluing dollar. In summation, we tend to see more investors and less owner occupants as the dollar loses value. When the dollar is gaining in value the opposite happens.
Here at RCP we watch the trends. We can help you in your next real estate purchase.