Wanted to introduce a new program that we rolled out within our Short Sale Department.  We have opened up our negotiation team to outside agents.  It is our philosophy that Realtors who are actively out showing properties and listing homes should not be negotiating short sales.  If you are going to successfully close short sales, you need a team of negotiators that focus on contacting the banks with consistency and negotiators who are knowledgeable.  Agents can now affilitate with Short Sales Done Easy in order to leverage their time and energy:

***Short Sales Done Easy will provide our short sale powerpoint listing presentation to all agents who are affiliated with Short Sales Done Easy, LLC
***Short Sales Done Easy LLC will provide all documentation that is need to complete a short sale package including disclosures paperwork to protect you and your client.
****Short Sales Done Easy has a very high success rate and dedicated negotiators who only get paid if the property closes.

Realtors who negotiate their short sales, in most cases, are going to have a lower close rate than Realtors who have a negotiation team.  Make sure you hire the right short sale real estate agent in Phoenix to sell your home successfully.  Visit www.shortsalesdoneeasy.com

http://shortsalesdoneeasy.com/
Steve Horn with Shortsalesdoneeasy.com discusses the challenges of being a short sale agent and the value in having an entire team working on your Arizona short sale. Having a team allows each person to leverage their time better. The Steve Horn team can help the homeowner complete a short sale and they can also help other real estate agents complete short sales.

Excellent, Excellent condition! Move in ready! Looking for a loyal buyer for the well maintained property. Very open floor plan. Kitchen opens directly to the family room. Kitchen has upgraded cabinets and granite countertops. Paint in great condition. Cul De Sac lot, great neighbors, great subdivision. CTA Elementary school. Must see home!

Proud to announce we have added a manager to lead Short Sales Done Easy to the top of the pack in Phoenix Short Sales.
DW Smalles has a experience in loss mitigation and has successful worked over 300 files at a time.  DW will be responsible for the day to day interaction with the banks and managing a team of negotiation specialists.

***Day to day operations and implementation of systems.
***Holds negotiators responsibe to receive written approval letters within 75 days
***Ensures that all files are being touched a minimum of twice a week.

By adding DW Smalle to our short sale team, we have improved our ability to reach out to the banks on a more consistent basis using a more direct approach.  All banks use different systems to process their short sales, the Steve Horn Team and Short Sales Done Easy is committed to its systems and communication.

Phoenix market continues to see a high depreciation rate and the numbers do not lie.  The outlying areas of Phoenix including Queen Creek, Maricopa, Gilbert, Mesa, Peoria, Litchfield Park, Tolleson, Surprise, Goodyear and other areas are seeing a high amount of depreciation.  This past month we saw an increase in Active listings, as well as an increase in new foreclosure listings. 

                                    All          REO          Short          Traditional

Active                   38854     7884         11598        19164
Pending                15512      3677          8539          3452                            
SOLD                       6611        2817          1562          2208                            

If you are an owner and you are thinking of waiting out the market….it does not look good.  If you would like a consultation and get a free market consultation on the home, please contact me.

MYTH: I must stop making my mortgage payments before the bank will approve a short sale.

MYTH: In doing a short sale, I’m at risk of a foreclosure at anytime.

TRUTH: This is simply not true. Its all based on the process of foreclosure, or in Arizona, the NON-judicial process of a trustee sale. If you are delinquent, the process of filing foreclosure happens through a notice of trustee sale. This generally happens when a homeowner is 90 days delinquent on their payments. So, what happens at that point, the lender will file a NOTICE OF TRUSTEE Sale, and then there is a 90 day clock that counts down to the actual trustee sale, which is consider foreclosure. The homeowner will know clearly when the sale date is set, if its set, and does not have to be concerned about any surprises.

MYTH: If I have a 2nd loan or HELOC, I can NOT short sale my home.

TRUTH: The short sale team negotiating with the banks on your behalf will handle the 2nd mortgage, or HELOC, just as if it was a 1st mortgage. In most states, the 2nd lender and any junior or subordinate liens will always get less than what is owed, generally speaking about 5-10% of the original balance. This amount will be paid by the 1st lender who is approving the short sale. The amount paid to the junior liens may vary, but is negotiable and the ShortSalesDoneEasy.Com and Steve Horn team will make this happen for you.

MYTH: I can receive money back at closing from the bank when doing a short sale.

TRUTH: The truth is that there are only special, exceptional circumstances in which a bank will approve giving money back to the homeowner at closing of a short sale. For the most part, the bank is taking a significant short, therefore they are NOT inclined to give the homeowners any benefit beyond the releasing of the debt.
Recently, new government programs have come out that are offering this as an option, or parameter in the short sale. DO NOT BE DECIEVED. This is not incentive for the bank, but actually a slap in the face for most of them, and they will NOT do more of these types of short sales just because of a new government program.

MYTH: I will have to pay commissions and closing costs at closing in order to do a short sale.

TRUTH: Very seldom does a homeowner have to pay any costs associated with a short sale. Most of the time, more than 95% of the time, the bank being shorted and that is approving the short sale has to pay the commissions to the real estate agents, as well as associated costs of the short sale, including in many cases HOA fees and taxes.

This can be a tremendous benefit to a seller that is financially or emotionally distressed.

MYTH: If I short sale my home, then I’m doing a disservice to the community and its going to make my neighborhood go down, and my neighbors will not like me.

TRUTH: Short sales sell for more, about 99 percent of the time, than a foreclosure, and the bank valuates the property, and determines whether our offer is in line with the value or not. Short sales actually hold the market strong compared to the alternative of letting go in foreclosure.

MYTH: I have a trustee sale already scheduled on my home, therefore I can NOT sell my home.

TRUTH: The trustee sale can be postponed about 80 percent of the time or better, and this percentage can be increased by having an offer to submit to the bank, along with a financial package.
In many cases, the bank will extend the sale at least 1 time automatically, and we have had huge success in getting sale dates extend regularly when an offer is submitted.

QUESTION: Can I do a short sale if I have a luxury home or a jumbo mortgage?

MYTH # 1 for LUXURY HOMES: The bank will not short sale my home since there is so much debt, or need to discount.

TRUTH: Banks do NOT want to foreclose, EVER! They make their decisions based on todays value, not based on the amount of the loss

MYTH # 2 for LUXURY HOMES: The luxury market is not as strong for short sales as there is for lessor valued homes.

TRUTH: There are many many investors and buyers out there currently, and they are very capable and hungry to buy higher priced homes. Our experience has been that they buy the luxury homes as often and quickly as lessor priced homes.

MYTH # 3 for LUXURY HOMES: I need to spend money on my luxury home in order to short sale. Like staging and fix-up, etc.

TRUTH: This is not true. PRICE is the only thing that sells a short sale, and that price has to be competitive. Therefore, the condition or perception of the property as a luxury home is not as important as it was in an up market. We have determined that banks will approve short sales, and buyers will buy short sales, based on price and nothing more.