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The Ridge At Troon North 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:

Pros

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.

Cons

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.

How Appraisals Work

Let’s explore how appraisals work!

Everybody hates the appraiser. The seller thinks the house is worth more. The buyer thinks its worth less. Appraisers work with what they have, constrained by the restrictions placed upon them by lenders and national standards. For example, the lender will say the appraiser is only to look at comparable properties within one mile and out of those, only houses that have sold within the past six months. They are many more criterion or conditions the lender can place on the selection of the comparable. It is after all their money at risk. They need to feel comfortable in making the loan based on a reasonable valuation of the property.

When you’re buying a house and get to the point in your loan process where you need to get an appraiser, the lender usually hires the appraiser, but the appraiser is not beholden to the lender or anyone else. They sometimes work for the lender, however, they are independently licensed and ultimately hold fast to a national standard for appraisers. The appraiser by design is an unbiased third party and as such can come closest to getting a handle on the market price. They don’t always get that price right, which is why an appraisal is considered an opinion of value. Remember it is only appraiser’s opinion– not fact.

At RCP, we have a leadership team with a background in appraisals and we can hopefully help avoid any appraisal hang ups. We know how appraisers think, and can speak “appraiser” too.

What Scottsdale Homes for Sale Offer

Scottsdale homes for sale are perfect for families!

Homes for sale in Scottsdale are perfect for family living. With as many amenities the city has to offer combined with the vast amounts of nearby wilderness and recreation areas, Scottsdale homes for sale are a perfect fit for families of all ages. We can’t forget to mention the great Arizona year round weather, that makes it ideal, with some of the world’s best and most famous golf courses. Scottsdale real estate is in the center of it all.

Scottsdale homes for sale range in price as much as they do in style and design. For a complete list of specific Scottsdale homes for sale listed by community click here. If you are looking to retire in the sun or are just starting out, Scottsdale homes for sale may be exactly what you are looking for. Call us at RCP for a more detailed custom search or with general questions about Scottsdale. We want to help you find a home that you will love for years and years to come, and to get it at a price you will love.