GREAT BUYER VALUES ON SHORT SALES

While many buyers feel that buying a short sale is a long drawn out experience that is not worth the time or trouble, new data suggests otherwise. Whether you are a first time home buyer, a second home buyer, or an investor, being patient on a short sale may give you the best value for your dollar.

In a market like ours here in the Southeast Valley of Phoenix, which is dominated by short sale listings, avoiding short sales may also put a severe limit on the number of homes available for you to buy. Don’t let poor information limit your options. The article below lets you know how short sale equals value in many cases. Harlan Stork

Short Sales Offer Significant Discounts in Several Major Cities By: Krista Franks 10/31/2011

Short sales are growing throughout the nation as distressed homeowners and servicers continue to seek alternatives to foreclosure and home buyers increasingly opt for the significant discounts that come with short sales.

With 9,145 completed short sales, the Los Angeles area had more short sale transactions than any other metropolitan statistical area (MSA) in the second quarter of this year, according to a recent blog post from RealtyTrac. These short sales came with an average discount of 32 percent and at an average price of $350,237. Phoenix ranked second in number of short sales for the second quarter with 8,434 short sales, which came with an average discount of 27 percent and an average price of $133,793.

According to the RealtyTrac blog post, the metros with the highest numbers of short sales in the second quarter were:

1. Los Angeles
2. Phoenix
3. Cape Coral – Fort Myers, Florida
4. Oxnard – Thousand Oaks – Ventura, California
5. Reno – Sparks, Nevada
6. San Francisco
7. San Jose
8. Portland
9. Atlanta
10. Milwaukee

Short sale savings averaged more than 30 percent in Cape Coral – Fort Myers, Florida; San Francisco; San Jose; and Milwaukee. Reno – Sparks, Nevada, experienced a 50 percent rise in short sales from the first quarter to the second quarter of the year, while San Francisco saw a 47 percent rise in short sales. Atlanta and Milwaukee also saw significant increases in short sales over the quarter – 21 percent and 20 percent respectively.

About harlanstork

An Arizona native for the past 20 years, I have been specializing in selling Arizona real estate since 1990. I also have experience in commercial real estate, and mortgage loans. With an undergraduate degree in Business Management, and an MBA from Arizona State University, I m committed to putting my knowledge and experience to work for my clients in meeting their real estate needs. My area of expertise is the Southeast Valley, which includes Chandler, Gilbert, Ahwatukee/Mountain Park Ranch in Phoenix, and Mesa. With an emphasis on customer service, and long term client relationships, I assist my clients in making educated real estate decisions that are focused on needs, whether short term or long term. I can assist in finding the right home in the right neighborhood for their own home, or review the choices and financial benefits of investment property. My goal is to educate my clients, and deliver the results they desire. Married with a beautiful wife, Jennifer, and two energetic boys, Tucker (10), and Carson (8). I stay active with the family, coaching football, leading a Cub Scout den, and teaching Sunday School at Redemption Church in Gilbert. With a Black Belt in Tae Kwon Do, I also enjoy teaching Martial Arts at America's Best Karate in Chandler. For vacations our family does what most "Zonies" do, and head for the coast of California to enjoy the beaches. Our family also enjoys hiking South Mountain.

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