Real Estate and Beyond Blog

HOW TO PREPARE YOUR HOUSE TO SELL PHOENIX, ARIZONA

In preparing your house to sell, ask yourself over and over if your house looks like someone else's dream house. Houses in move-in condition tend to be inviting to buyers; houses that are in like-new condition typically sell fastest and procures the best price because it outshine the competition.

With that in mind, here are a few things to consider as you look over your house when getting ready to sell:

Exterior

Remember the sixty-second rule: that's all the time you have to create a good first impression! Mow the lawn, rake leaves, trim trees and shrubs that keep light out of the house, and remove dead plants. It will probably be easier to sell your house if the buyer can see it, outside and in. Pick up tools, garbage cans, hoses, toys, and building materials and store them neatly in a storage area. Replace broken or missing roof shingles, and straighten and clean the gutters and downspouts. Clean all windows and mend torn screens. Paint your house, if necessary. This can probably help improve curb appeal more than any other fix-up! If you decide against painting the entire house, at least consider painting the front door, window frames, and shutters. Seal or resurface the driveway and repair broken steps and walkways. Paint or replace your mailbox and post. Dress up the front yard with some simple landscaping.

Clean, Clean, Clean

Step back for a moment and look at your home as if you were seeing it for the first time. Every room should be neat, spotlessly clean, dusted, and uncluttered. Steam clean the carpets and wax the floors. Wash the walls, windows, and light fixtures. Tighten loose stair railings and clean all woodwork. In the event that you feel a project of this magnitude is better left to a professional, ask your real estate agent to recommend a professional cleaning service.

Entryway

Use bright light bulbs in the foyer and throughout the house. Fill the house with a pleasant aroma, such as berries in the summer or cinnamon in the winter, or some other fresh scent.

Living Room

Replace the carpet if it's old or worn. It costs money, but you may find that you will more than recoup that cost when the home sells. Patch cracks and nail holes in the walls, and repaint walls in neutral colors, such as white or ivory. Nail down creaking boards and stair treads. Lubricate any sticking or squeaking doors. Open all curtains, and replace them if they are getting old. Add lamps and lighting if the house is dark. Set out fresh flowers.

Furniture

Rearrange or move furniture to make your rooms look more spacious. Discard worn furniture and move extra furniture to a storage unit. Remember, too much furniture and too many knick-knacks make rooms look cluttered and small. One or two decorative items per surface is plenty, so pack the rest away. Visit model homes for decorating ideas.

Kitchen and Baths

These rooms should sparkle! Clear off counters, and clean all appliances and fixtures. Scrub the floors and walls. Re-caulk tubs and showers. Clean these rooms thoroughly, and be sure they smell fresh!

Closets

Take those things to Goodwill that you'll have to discard anyway when you move. Organize shelves and straighten shoes. Be sure that sliding doors operate smoothly on their tracks and knobs on drawers are secure.

Utility Room

Dust and wash off lint from the washer and dryer. Dust and wash off the water heater.

Light and Bright

Do everything you can to brighten the interior. Replace wallpaper with white or off-white paint, and repaint shabby or dark walls. Open the blinds, and replace broken windows and window seals. Always maintain a comfortable temperature inside the house, even if you are away for an extended period of time.

PREPARING YOUR HOUSE TO SELL

In preparing your house to sell, ask yourself over and over if your house looks like someone else's dream house. Houses in move-in condition tend to be inviting to buyers; houses that are in like-new condition typically sell fastest and procures the best price because it outshine the competition.

With that in mind, here are a few things to consider as you look over your house when getting ready to sell:

Exterior

Remember the sixty-second rule: that's all the time you have to create a good first impression! Mow the lawn, rake leaves, trim trees and shrubs that keep light out of the house, and remove dead plants. It will probably be easier to sell your house if the buyer can see it, outside and in. Pick up tools, garbage cans, hoses, toys, and building materials and store them neatly in a storage area. Replace broken or missing roof shingles, and straighten and clean the gutters and downspouts. Clean all windows and mend torn screens. Paint your house, if necessary. This can probably help improve curb appeal more than any other fix-up! If you decide against painting the entire house, at least consider painting the front door, window frames, and shutters. Seal or resurface the driveway and repair broken steps and walkways. Paint or replace your mailbox and post. Dress up the front yard with some simple landscaping.

Clean, Clean, Clean

Step back for a moment and look at your home as if you were seeing it for the first time. Every room should be neat, spotlessly clean, dusted, and uncluttered. Steam clean the carpets and wax the floors. Wash the walls, windows, and light fixtures. Tighten loose stair railings and clean all woodwork. In the event that you feel a project of this magnitude is better left to a professional, ask your real estate agent to recommend a professional cleaning service.

Entryway

Use bright light bulbs in the foyer and throughout the house. Fill the house with a pleasant aroma, such as berries in the summer or cinnamon in the winter, or some other fresh scent.

Living Room

Replace the carpet if it's old or worn. It costs money, but you may find that you will more than recoup that cost when the home sells. Patch cracks and nail holes in the walls, and repaint walls in neutral colors, such as white or ivory. Nail down creaking boards and stair treads. Lubricate any sticking or squeaking doors. Open all curtains, and replace them if they are getting old. Add lamps and lighting if the house is dark. Set out fresh flowers.

Furniture

Rearrange or move furniture to make your rooms look more spacious. Discard worn furniture and move extra furniture to a storage unit. Remember, too much furniture and too many knick-knacks make rooms look cluttered and small. One or two decorative items per surface is plenty, so pack the rest away. Visit model homes for decorating ideas.

Kitchen and Baths

These rooms should sparkle! Clear off counters, and clean all appliances and fixtures. Scrub the floors and walls. Re-caulk tubs and showers. Clean these rooms thoroughly, and be sure they smell fresh!

Closets

Take those things to Goodwill that you'll have to discard anyway when you move. Organize shelves and straighten shoes. Be sure that sliding doors operate smoothly on their tracks and knobs on drawers are secure.

Utility Room

Dust and wash off lint from the washer and dryer. Dust and wash off the water heater.

Light and Bright

Do everything you can to brighten the interior. Replace wallpaper with white or off-white paint, and repaint shabby or dark walls. Open the blinds, and replace broken windows and window seals. Always maintain a comfortable temperature inside the house, even if you are away for an extended period of time.

The Selling Process

Sellers - STEP 1 - DEFINE NEEDS

It is important to set out in writing the reasons that are motivating you to sell your current home. You might ask yourself, "Why am I selling my home and what do I expect to accomplish?" If you have a growing family and you need more space you may be under less pressure to get your house ready to sell than if you were, let's say, moving to a new city due to career opportunity.

Explore your short and long term goals and decide how selling your house fits into those goals. Your agent will identify all of the variables within your individual goals and how best to achieve them in your local real estate market. Your real estate agent will apply his or her expert knowledge to your particular needs and set a realistic time frame for the process to proceed. This will help you to establish a time management path for selling your home.

Sellers - STEP 2 - PRICING STRATEGY

Your next objective is to consult with your real estate agent to determine the best possible selling price of your home. You will need to take into account the state of the local market, the condition of your home, and sales of comparable homes in your neighborhood. He or she will create a comparative market analysis by taking into consideration the type of market you are in and recent sales of comparable properties. Your agent will then guide you to the best fair market price that will help sell your home within your desired time frame. Usually, real estate agents have a clearer and more objective sense of market value than anyone else- including appraisers!

Often, it can be hard for you, as a seller, to also maintain objectivity, so remember to be reasonable about the price you set. You will always be better off setting a fair market value price than setting your price high expecting that someone will come along and be willing to pay it. If your home stays on the market too long because it is overpriced, potential buyers may think that something is wrong with it and you may end up selling it for less than what you could have gotten if you had started out with a realistic asking price.

Sellers - STEP 3 - PREPARE YOUR PROPERTY

It's time to get your home in "showing and selling" condition. Most of us don't keep our homes in the condition it would need to be in to sell. Over the years those boxes in the corner of the garage just seem to multiply on their own. Things have broken that we just never get around to fixing and some things have just worn out. We just accept the fact that they will always be this way. It is this frame of mind that you have to break out of in order to get your house ready to show. How your home looks will have an immense impact on how quickly it sells and whether or not you get full market value for it.

First impressions are very important and you only get to make one. Your real estate agent, who is interacting in the marketplace every day, can assist you in approaching your home from the buyer's standpoint. What needs to be changed to make a good first impression? This may mean that all you do is prune the trees and shrubs. On the other hand, it may mean that you completely repaint the house, inside and out. Do a "curb to door" check. Give the potential buyers a clear path to enter the home. The fewer obstacles between the buyer and the true appeal of your home the better. Keep in mind that over time we become accustomed to our surroundings. What's normal for you may be detrimental to the buyer.

Make your home look as spacious as possible. Organize your closets and kitchen cabinets, and if you have things stored in the attic or basement, make sure they are presentable. If you are showing during the day, pull back your curtains and drapes to show how bright and cheery your home is. If you are showing at night, turn on all of the lights to create a warm and welcoming environment for the prospective buyers. A home that is marked with your personality and style may be harder to sell. You might even consider such things as removing obvious clues to your political affiliation and tucking away any biased literature that may be visible. This will reduce distractions and help the buyers to visualize the home as their own.

Sellers - STEP 4 - MARKETING STRATEGY

Now that your home is ready, it's time to put it up for sale and market it. Establishing a marketing strategy with your real estate agent is a must. Your agent will expose your home to the most potential buyers possible using a marketing plan that will have the highest possibility of bringing not only the most buyers, but also the most qualified buyers, to your doorstep.

There are many different ways to get the word out there that your home is for sale. A yard sign, flyers, and direct marketing are just a few of the many options available. If you are in a buyer's market you will have to be extra careful when choosing a plan. You don't want your home to sit with no one showing interest. You and your agent should structure your marketing strategy so that the first 3-6 weeks that your house is on the market will be the busiest.

Sellers - STEP 5 - RECEIVE AN OFFER

When a buyer decides to buy your home, an offer will be presented. Your real estate agent will advise you as to whether or not the prospective buyer is qualified to purchase your home. After all, there is no reason to review an offer if the person(s) making it will not be able to actually buy your home.

You and your real estate agent will then review the written document, taking care to note what is required of both parties to execute the transaction. The contract should protect the best interests of all parties involved and should be comprehensive in nature.

Once you accept the contract, it may be too late to make any changes. The contract, though not limited to this list, should include the following:
· A legal description of the property
· The offering price
· The down payment
· Financing arrangements
· A list of fees and who will pay them
· Adeliajos of the deposit
· Inspection rights and possible repair allowances
· The method of conveying the title and who will handle the closing
· A list of appliances and furnishings which will stay with the home
· The settlement date
· Any relevant contingencies

Remember that the legalities of this phase are very important. If you have any questions or concerns, be certain to address them with your real estate agent right away.

Sellers - STEP 6 - NEGOTIATING TO SELL

Most offers to purchase your home will require some level of negotiation to come to a win-win agreement. Your real estate agent is well versed on the legalities of the real estate contract used in your area and will handle the responsibility of protecting your best interest throughout these negotiations. In addition, your agent has a thorough understanding of the contract itself, including what each contract clause means to you and your buyer, what you will net from the sale of your home, and what areas in the contract lend themselves easiest to negotiation. Your agent will review the written offer with you to make sure that you thoroughly understand what the buyers are offering and what they are asking in return.

Some of the items that you may have to negotiate are:
· The price
· Financing
· Closing costs
· Repairs that need to be done
· Appliances and fixtures
· Landscaping
· Painting
· Occupancy time frame

To really gain some insight into why potential buyers are pursuing the purchase of your home and how they might proceed in the negotiations, it is also important to know as much about the buyer as possible, especially their motivation for buying. Once both parties have reached a point where the deal is acceptable, your agent will be certain that you have a legally executable contract.

Sellers - STEP 7 - SELLING VENDORS

Once you have accepted an offer to sell your home, your real estate agent will inform you of all the procedures involved in order to proceed successfully to closing, as well as the parties responsible for completing those procedures and estimates of completion. For instance, the property may need to be formally appraised, surveyed, inspected or repaired. Depending on the specifics reached during the negotiations, you may pay for all, some, or none of these items.

Your agent will then coordinate with all the parties and keep you informed as to the results of the various procedures. If each procedure returns acceptable results as defined by the contract, then the sale may continue. If there are problems with the property the terms set forth in the contract will dictate your next step. Depending on the contract, you or the buyer may decide to walk away, open a new round of negotiations, or close. Your agent will advise you throughout this process and will help you coordinate any actions you must take to keep the sale moving forward.

There are some sales that go smoothly and some that require a lot of work to get to the closing table. Until you get into it, you won't know which one you have on your hands. Either way, your agent will be there with you every step of the way.

Sellers - STEP 8 - PRE-CLOSE PREPARATION

A few days before the closing, your real estate agent will contact the entity closing the transaction. He or she will make sure that all of the necessary forms and documents have been prepared and are going to be available for you to sign on the appropriate date. Your agent will also contact each party to the transaction to be certain that they have taken all actions necessary for closing, so the entire closing can proceed on the date and time planned.

Your agent will also prepare you in advance for the process of the closing, advising you of any documents you must bring to the closing, how much time to block off for the closing, and any other information that is pertinent to the closing meeting itself.

Sellers - STEP 9 - CLOSING ON A HOME

"Closing" refers to the meeting where ownership of the property is legally transferred to the buyer. Your real estate agent will be present during the closing to help explain the process and forms to you and make sure everything goes as planned. By being present during the closing, he or she can mediate any last minute issues that may arise.

As the seller, you will need to be prepared to give over any necessary documentation regarding the property and, depending on the arrangements made during negotiations, you may be required to have done something specific in order to close.

Be sure to read all the documents and ask any questions you may have. It is important that you understand every document you are signing.

Sellers - STEP 10 - POST-CLOSE ACTIVITY

Congratulations on the successful sale of your home!

Hopefully, everything went smoothly and you will be vacating your house in the time frame that you had anticipated. Your real estate agent will help you create a checklist of all the things you will need to do to turn the property over to the new owners. You will need to make sure that all of the local services (i.e. electricity, gas, lawn care, cable, etc.) have been cancelled or, if the new owner is going to retain some of the services, the name for the account should be changed. The property and anything assigned to the buyer according to the contract should be prepared appropriately for the new owners. This will make the transition as smooth and effortless as possible.

 3P MARKETING SYSTEM FOR LISTING RESIDENTIAL REAL ESTATE

We still have many people being foreclosed upon. However , there are people out there with equity in their home that want to sell their home because of various of reasons. Furthermore, there are real estate investors entering into the fix and flip market. They are purchasing homes from the court house steps at a discount enabling them to have enough spread to retail the property. This is a perfect storm for people who wish to take advantge of the opportunity in front of them.

There is a market for listing homes. However, many real estate agents still continue to follow the 3P MARKETING SYSTEM FOR LISTING RESIDENTIAL HOMES

1. PLUG THE INFORMATION INTO THE LOCAL MULTIPLE LISTING SERVICE
2. POST A SIGN IN FRONT OF THE HOME FOR ADVERTISING PURPOSES
3. PRAY THAT IT SELLS

How many of you can relate to this marketing system? We have been doing this type of marketing for years. However, we are in the Internet Age. Sellers expect more from a listing agent other than the 3P System. Are you in position to fulfill their listing expectation? If one is not prepared, then one better find a new career.

I have developed a detailed marketing plan that heavily uses the Internet to ensure the listing has extreme exposure on a global level. One can search real estate on a global so an agent better be prepared to play at this level. The Real Estate and Beyond Team located in Phoenix, Arizona is ready to list your home today. We have developed a local network to assist all home owners who wish ti sell their current home in this real estate market.

What is your current listing strategy? What separate you from all the rest?

Divorce is happening at record levels during these tough economic down times. Divorce is not a pretty picture for anyone involved in it. How does one divide up the money and real estate? I have been contacted several times to list a home involving a divorce. Many times the home represents equity to be split among the couple.

There are 3 types of listing agreements available to divorce couples when listing a home:

1. Exclusive Right to Sell - This gives a real estate agent a commission regardless if the broker sells your house or not in the sale. If you sell your house, then the real estate agent still receives a commission. However, the real estate agent invests time and money to market the property to best sell it in a timely manner.  
2. Exclusive Agency Agreement - This is almost the same thing as right to sell. However, the owner is allowed to sell the home without legally paying a commission to the broker. It sounds like a great deal. However, the broker will not invest the time and money if the broker is competing with the owner. It is best to hire the best real estate agent in order to obtain highest and best price for the house and follow it to close.  
3. Open Listing - Most agents do not like this type of listing because the first broker that sells the house is entitled to the commission. Agents will invest little time and money on this listing.

Here is an Interview Checklist

Code of Ethics and Professionalism-Realtors uphold code of ethics on a national level. Furthermore, look for a Realtor that comes across professionally and confident. That is the person you want to sell your house. Ask the Realtor if they are a member of National Association of Realtors and their local board of Realtors.  

Market Presence

• Local Market Expertise
• Look for an agent with five or more years of experience
• Full time professional is a must while listing your home
• Ask for number current listings
• Do they know the neighborhood statistics in the last year
• Ask for the number of closings per month to show their activity

References-Ask the Realtor for references to follow up on. Plus, Google the agent's name to search for information on them. Asking questions is important

Experience-Ask the agent if they have experience with divorce situations in real estate. If yes, please ask them about the outcomes of each transaction.

Broker Commission-Discuss and negotiate listing commission. Discuss what the agent will do to earn the commission. Ask the real estate agent for a final marketing plan before listing house.

Divorce is happening in your marketplace. Are you tapping into this market? People divorcing need a Realtor to sell their home to fulfull the divorce decree. Are you that professional?

http://www.realestatedivorcespecialist.com/shop/realestate/

The link above allows you to obtain a designation as REAL ESTATE DIVORCE SPECIALIST

Be different and set yourself up as the expert when it comes to Divorce and Real Estate.

OBTAIN FULL MARKET PRICE LEASE OPTION YOUR HOME PHOENIX, ARIZONA

Market values continue to decline across America. Home values have decreased from 25-50% from 2005 boom. The traditional way of selling real estate is making it harder to sell residential real estate. Here in the Phoenix housing market, bank owned properties make up to 50% or more of listings in the Arizona Multiple Listing Service. Many sellers including new home builders continue to compete with low selling foreclosed homes.

Yes, mortgage rates continue to be at their lowest levels in years. However, mortgage guidelines continue to make it harder for people to obtain a traditional home mortgage based upon their credit history. One must prove their income via full documentation loans. Also, buyers must put a down payment from 3.5% up to 20% on a home purchase.

How do sellers compete in this market when selling their home? One solution is a rent to own or lease option. The typical lease option is for 24 months. The lease option puts down a small down payment from 2-5% of the sales price to the seller plus monthly payments until lease option candidate is able to be in position to exercise his/her option to purchase back the house at the agreed upon price via the purchase contract.

My name is Harry F. D'Elia III. I have been performing lease options for the last six years. I have put together over one hundred of these types of contracts between a seller and lease option candidate. I always advise that it must be a Win-Win for both sides in order to obtain success.

One reason for my high rate of success is because I aid the lease option candidate to be in position to exercise his/her option in the given time period. I work closely with Praxis Credit Consulting. This firm is able to rebuild one's credit rating through education, support and clear expectations to be performed by the lease option candidate.

Many people are forced to use this option to sell their house because they have no money to pay realtor's commission since property values declined over this past year. The lease option business will continue to grow as people have been foreclosed on plus many people have lost their jobs. It is a perfect storm for investors at this time.

Risks

There are risks on both sides of the coin. The lease option candidate with bad credit and no money for a 20% down payment, a lease option is a great solution. Making their monthly payments on time plus clearing up one's credit will aid in rebuilding one's credit rating. However, it does come with risks. Will the home appraise for the agreed upon purchase price set by buyer and seller? If it does not appraise, then buyer and seller will need to negotiate. There are no guarantees that buyer can obtain a loan program that fits their current profile needs.

There are many pluses for the sellers. First, the seller is able to obtain above asking rental price along with a nonrefundable down payment. Also, seller is able to take the tax deductions on the property. Plus, seller can avoid realtor's commission if lease option candidate exercises his/her option. If the tenant does not exercise the option, the seller still wins because the property has appreciated and person in the house has paid down the seller's mortgage each month. The downside to the seller is when the house does not appraise for agreed upon price. I have experienced when the seller will not sell the house because house did not appraise. The tenant created a lot of damage to the property. Plus, the seller will have to start the eviction process.

Everything is negotiable in real estate. Having a solid lease option contract that spells out every detail for both the seller and buyer is the key to a successful lease option. Real Estate and Beyond Network has developed a solid lease option contract that ties both the rental contract and purchase contract together to have a legal binding contract with seller and lease option contract. My lease option contract is solid in the court of law and it has been challenged many times.

Setting up Win-Win Scenario

I always advise my investors to treat people the way they want people to treat them. Respect and honor goes a long way with people. What if the seller would send the lease option candidate a $100 gift certificate from Wal-Mart in a thank you note? I believe this act of kindness will go a long way. I have developed checklists for both sides of the transaction to be successful.

Seller Beware Checklist

• Seller will need to conduct full background check on potential lease option candidate including employment check and three reference checks with name and number
• Insist on using your contract with detailed real estate language
• Set the price where lease option candidate will be able to purchase the house in 24-36 months. It must be a Win-Win for both seller and lease option candidate
• Treat lease option candidate as a homeowner. For example-his monthly payment will be referred as a mortgage payment to have home ownership in his/her mind.
• Seller still responsible for his/her mortgage payment, taxes and insurance along with HOA CC&Rs
• Set up quarterly inspections by third party person to inspect interior and exterior along with changing AC filter and other minor maintenance upkeeps to avoid any major damages to the house
• Lease option candidate is responsible for all repairs of the house
• Purchase home warranty on the property for extra protection. Lease option candidate will be responsible for copay-around $45-55 per visit
• Ensure you use both a residential lease and purchase contract along with a document bringing all documents together for extra protection
• Retain the services of a real estate lawyer or property management company in case one needs to evict a tenant
• Require the lease option candidate to participate in a credit consulting program like the one we offer at Praxis Credit Consulting here in Phoenix, AZ
• Record all documents at title
• Be prepared to modify the terms of the contract if market conditions change in the near future
• Give up to 25% of the monthly payment towards the purchase of the house for incentive to make payments on time

SHOULD I PAY MY MORTGAGE PAYMENT THIS MONTH?

 Many people continue to be upside down in their house here in Phoenix, Arizona and across America. It seems that banks are still foreclosing on homes. When will the madness end? Yes, we do short sales here in Phoenix, Arizona. Plus, we receive many phone calls regarding short sales. One must be proactive and have a system to open and close short sales. You do not want a new person negotiating a short sale transaction because it may not close. Now, there are times when the expert cannot close them just because the banks says no.

One of the first questions from the sellers are "Should I pay my mortgage this month or not? It is like they want me to give them confirmation or permission to stop payments. I inform them that I cannot tell them to stop their payments. That is totally up to them. However, I explain the options in front of them. Please click on the following blog to read of the 4 Options Sellers Have Today.

It seems many more people have stopped making their monthly mortgage payments due to job loss, upside down in their house and just no hope for the future. People continue to walk away from their house. The number one problem here in Phoenix, Arizona is abandoned homes. People continue to strip vacant homes and sell the items on Craisglist and other avenues.

Simple question "SHOULD I PAY MY MORTGAGE THIS MONTH?

SEARCH FOR PHOENIX, ARIZONA BANK OWNED HOMES 

AND THINK ABOUT YOUR OPTIONS! 

Banks continue to foreclose on properties that continue to decrease property values around the country. Many sellers are sitting on the sidelines to sell their home. However, they do not want to give it away. I would not want to sell my house for a deal if I had the choice. Lease option your house is another great way to sell your home. Many home buyers cannot obtain conventional financing. So, seller financing is the best thing for these candidates. Please review below a seller beware checklist:

Seller Beware Checklist

• Seller will need to conduct full background check on potential lease option candidate including employment check and three reference checks with name and number
• Insist on using your contract with detailed real estate language
• Set the price where lease option candidate will be able to purchase the house in 24-36 months. It must be a Win-Win for both seller and lease option candidate
• Treat lease option candidate as a homeowner. For example-his monthly payment will be referred as a mortgage payment to have home ownership in his/her mind.
• Seller still responsible for his/her mortgage payment, taxes and insurance along with HOA CC&Rs
• Set up quarterly inspections by third party person to inspect interior and exterior along with changing AC filter and other minor maintenance upkeeps to avoid any major damages to the house
• Lease option candidate is responsible for all repairs of the house
• Purchase home warranty on the property for extra protection. Lease option candidate will be responsible for copay-around $45-55 per visit
• Ensure you use both a residential lease and purchase contract along with a document bringing all documents together for extra protection
• Retain the services of a real estate lawyer or property management company in case one needs to evict a tenant
• Require the lease option candidate to participate in a credit consulting program like the one we offer at Praxis Credit Consulting here in Phoenix, AZ
• Record all documents at title
• Be prepared to modify the terms of the contract if market conditions change in the near future
• Give up to 25% of the monthly payment towards the purchase of the house for incentive to make payments on time

Short sales continue to increase as homeowners cannot meet their monthly mortgage obligations due to job loss or a cut in pay. Many Americans have hit their limit and do no know what to do during this economic crisis. People have committed suicide because of no HOPE. Statistics say that 70% of the people that go into foreclosure do not contact their bank or any other professional to find out their options. That means people put their head into the ground thinking that everything will be OK and nothing will happen to them. WRONG!

Please visit my other blog that describes 4 OPTIONS FOR PEOPLE BEHIND IN THEIR MORTGAGE AND/OR UPSIDE DOWN IN THEIR HOME.

I have created a team to assist homeowners who really need assistance during these trial times. I have assembled a Short Sale Team that include Realtor, Licensed Realtor to negotiate the short sale, CPA, Real Estate Lawyer, Credit restoration company, and homes available for lease options. We ready for people who make the call. 

This is the financial information that we will need from the seller to initiate the short sale process:

• Letter of authorization to handle short sale
• Hardship Letter
• 2 months Bank Statements
• 2 years Taxes 2007 and 2008
• 2 months pay stubs
• 2 years W-2's
• Mortgage statement for 1st and 2nd
• Income letter if self employed

Short sales do take time to process because we have to convince the bank to sell the home when the homeowner owes more on the house than what it is worth. It is vital that you pick someone who has experience in this arena. Do not be afraid to ask questions about their experience or process? You still have a choice in who represent you during a short sale.

Americans helping Americans is my motto. We all need to work together to get through these hard times. Everybody deserves a second chance in life. WE are here SERVE.

MAKE THE CALL TODAY 480-303-1800 

1. We are living in some crazy times as banks continue to foreclose on properties. Thousands of people are just walking away from their home because they see no hope for the future with being sometimes as much as 50% upside down in their home. The unemployment rate is over 10% at a national level. People are still losing their jobs each month. Companies are forcing employees to take unpaid vacation and/or salary cuts to keep their job. This hurts the lifestyle of many Americans. People are losing hope and taking desperate measures such as walking away from their house and starting over.

I read a statistic that 70% of the people that get foreclosed on their house never contacted their lender or any other professional. This is an amazing statistic to me. This shows me that people do not know who to contact or what to do when things hit critical mass. Many homeowners have stopped paying on their mortgage and living in the house rent free. They are paying off all their debts to be in a better position. Then, you have other people can afford the payments that have stopped paying their mortgage because their house is upside down way too much to ever come back to even. Is it really worth having a foreclosure on your credit report for seven years? One must really consult experts before making life decisions.

hat options do people have to have their house? Please review the options below:

1. Call your lender: It is your duty as a consumer to alert the bank of your current situation. The best thing that they can do is work out a loan modification in order to keep you in the house. This will involve lowering your payments and at times eliminating some of the principal. Each case is handled on a case by case scenario.
2. Short Sale-This is when the bank allows you to sell your house for less than what is owed on the mortgage. More lenders are starting to accept short sales to avoid foreclosing on the house. Banks are spending millions of dollars on foreclosing on the house. Plus, the house is vandalized when it is empty. It is better to do a short sale for all parties.
3. Deed-in-lieu-This is where the bank takes over the deed in exchange for the payment. The homeowner voluntarily gives the deed back to the bank.
4. Foreclosure-This is the last case scenario when steps 1-3 do not work for either party. The bank forecloses on the property to take back the house. The homeowner is asked to leave. Life moves on.

I host a weekly radio talk show here in Phoenix, Arizona, each Saturday. I had a caller on the show with this exact situation. Option #1 did not work because she was over the 105% LTV that was necessary for a loan modification. So, we will be exploring the short sale option with her. People do not know who to call to get the straigt answers.

I have created the ShortSalesBuster Team located in Phoenix, Arizona to assist distressed homeowners. We have professionals waiting to assist distressed homeowners. Yes, we are equipped to hand short sales negotiations to close the deal.

WHO YOU GONNA CALL? HARRY D'ELIA AT 480-303-1800