Sunday, July 11, 2010

Mortgage fixes Useless as Feathers on a Lizard

Dear Congressmen, Congresswomen and Senators,

For nearly ¼ of a century, my wife and I have been REALTORS®. We have been with Coldwell Banker Residential Brokerage in Phoenix, Arizona well over a decade. We have processed over 130 successful short sale approvals. A growing part of our short sale clientele is comprised of good folks who have been placed in very bad and difficult positions, through either job loss, health issue or job relocations. Many would love to keep their homes. Congress has failed to move fast
enough to help the growing population of short sale sellers. There is NO reason why many of these folks should be forced from their homes when a “principal reduction” loan modification would keep them in their home and allow them to grow their family and their family nest. The only thing the current HAMP program offers is a band-aid to a current or eminent payment crises. HAMP does NOTHING to address a fundamental problem with home retention and that is the ability for the home owner to be able to, one day in the future, sell his/her home for a profit so they can move up, move down or retire. HAMP builds into home retention the reality that the current homeowner will, eventually, be forced to sell the home under the terms of a deed in lieu or short sale and then be demoralized by the reality that the next owner will purchase the home for current fair market value, a
figure that, had a principal reduction loan modification been implemented for the current homeowner, would have allowed the original owners to retain possession of their home.

There are plenty of bank officials and pundants and members of congress who say that “principal reduction” loan modifications would undermine the very fabric of the mortgage market, ultimately scaring away investors from purchasing MBS (Mortgage Back Securities). To that group of idiots I say, get over it! The barn (the current lot of Mortgage Backed Securities) is already on fire. The fire needs to be put out and then you can rebuild the barn (the way MBS are configured insured, sold and traded). If you don’t fix the problem, the pool of buyers who will offer investment
portfolios for the MBS market will dry up like a prune.

The folks we met with yesterday, Mr. and Mrs. SECURE are a perfect example of good folks whom the government and the banking industry has turn their backs on.

Mr. and Mrs. SECUREs purchased their home in December 2007 for $512,865. They put 5% down, compliant with lending guidelines at the time, to secure a 5 year interest only loan. That loan is set to adjust in January 2012. At the time they purchased their home and were approved for their loan, they had a double income with Mr. SECURE employed at the Palo Verde Nuclear Power Plant in Arizona and Mrs. SECURE employed with an accounting firm. They had a residual income of 4 times their monthly mortgage payment. The Interest Only Loan was sold to them, by their builder,
with a story line that was not uncommon back then. Their FICO scores were in the high 700s at the time as they remain today.The conversation from the loan officer might have gone something like this:

Loan Officer: “Oh yes, we can put you in this home for only 5% down, that way you can conserve your own personal resources. Let’s put you into a 5 year “interest only” ARM. With the way property values are climbing, you can refinance out of the ARM in two or three years, into a fixed rate mortgage at a rate that will keep your mortgage payments about where they will be when you begin this new loan.”

Of course the loan officer’s projections were dashed to pieces with the total meltdown of the mortgage market and even more incredible is the reality and fact that this “spew of goo and nonsense” continued from nearly every lending institution in America, even after the TARP bill had been passed in November 2007, in an assumed effort to stabilize the US economy. The US economy was racing toward the cliffs, partially because of idiotic loans like the one that was sold to innocent consumers, like the SECUREs, and yet no one put a stop to it.

Recently, Mrs. SECURE has lost her job, reducing the household to a single income family. The SECURE’s reached out to Bank of America (BofA) for mortgage assistance. The patch-work loan modification that BofA has offered is but a Band-Aid on a wound that is hemorrhaging gallons of blood. The conciliatory loan modification offered by BofA reduced the families loan payment by $400 but does nothing to address the long-term problem of the exponential depreciated value of
their home. In just over 30 months, the SECURE’s home has been devalued over 50% by the collapsed real estate market and economy. Today the home is somewhere between $230,000 and $280,000 underwater. The home they purchased for $512,865 just 2½ years earlier is now valued at around $250,000.

Given the historic rate of appreciation the Arizona real estate market has enjoyed over the past 2 decades, and the projected and current rate of appreciation now being suffered upon today’s real estate market, it is expected that the home will not appreciate in value, enough to retire the current mortgage, for well over two decades, or longer (not accounting for an inflationary upward spiral which is sure to occur over the next few years). This is an incredible and unacceptable burden to place upon Arizonans and Americans. This story plays out in tens of thousands of households across the United States each day.

But back to the plight of the SECUREs; BofA has plans to launch a “principal reduction” loan modification program but will only offer that program to those families who are 60 days or more delinquent. This is an extremely unbalanced, unfair and flawed strategy. While those folks who are delinquent on their mortgages are certainly in need of assistance, the folks who have struggled to stay current on their mortgage, forsaking all other family and life style creature comforts, should be afforded the same or similar programs.

Until a system is put in place, by every financial institution who holds, services and/or insures a mortgage on residential real estate, that addressed the incredibly desperate contract between current value of a family’s home and the balance owed to their lender, i.e. “principal reduction loan modifications” the tsunami of foreclosures will not subside and a steady stream of families will continue to be displaced because there is no help for good people caught up in a difficult situation, little if any of which is their own making.

Ladies and Gentlemen of the House and Senate, you MUST do something to FORCE loan servicing companies, MBS investors such as Fannie Mae and Freddie Mac and independent investors and mortgage insurance companies and Ginnie Mae and Sallie Mae/HUD to work out “principal reduction” loan modifications. Look at the numbers, nearly 3 in 5 homes in Maricopa country in Arizona and Clark county Nevada have mortgages that are more than 50% underwater. The numbers are exponentially worse in California, Michigan and Florida. Over 1/5 of the nation’s mortgages are underwater and property values will not recover enough to retire the current mortgages for decades… unless each qualifying homeowner is granted a “principal reduction” loan modification.

We can be reached direct at 602-796-5674 or through our office at 623-344-4000 and ask to speak to G-II Varrato II.

Respectfully,

Lori Klindera and G-II Varrato II, Retired USAF 820th CES Red Horse, rCRMS, ePRO, ABR, CNE, RECS, SFR, Mentor, REALTOR®
Short Sale / Save The Dream – Quitting is NEVER an Option! - Coldwell Banker Residnetial Brokerage
3050 W. Agua Fria Freeway, Suite 110
Phoenix, AZ 85027
Lori’s Cell: 602-574-5674 G-II’s Cell: 602-796-5674 Fax: 602-296-0124

http://shortsale.airforcehomeseller.info/Join Lori and G-II on Twitter and our gaggle of congressional leaders…
Join G-II at
http://www.twitter.com/G2Realtor
and join Lori at
http://www.twitter.com/YRURenting

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Saturday, December 13, 2008

Do You Have Enough Equity To Refinance?

One of our clients recently expressed an interest in refinancing their home, given the incredibly low interest rates available today. Before they undertook such an ambitious effort, we thought it extremely important that they gave carful consideration to a more detailed view of current real estate conditions and became familiar with the projected real estate picture. To that end, we prepared a current market study of their home so they could compare it to the market study we had conducted just 60 days earlier.

We wanted to ensure for our clients, the information we offered would help them assess their next move and provided enough information to conclude that it was wiseor not… to invest additional capital into their home… given the current local and world economic climate.

Lori & I have been professional full time real estate practitioners well over two decades. We have been through four of these earth shattering real estate tsunamis but this is, by far, the worst one ever... even though we do see... light at the end of the tunnel, albeit a small dot at the moment.

In the market studies we prepared, we used properties that are as close to similar, to our client's home, as possible. We only used homes in their exact neighborhood and made all appropriate adjustments for differences between each of the 8 homes that have sold within the last 90 days.

We felt it was important that our clients stayed mindful that property values continue to plummet here in the valley. We explained to them that their home lost nearly $50,000 value in the last 60 days. [Side Bar - It is this REALTOR's opinion that until the flood of foreclosures comes to a halt and not until MI companies will once again underwrite conventional mortgages with less than 10% down, communities here in the valley will continue to experience depressed market values.]

The Market Study, also known as a CMA (Comparative Market Analysis), we conducted in of their home in October, found the value range to be between $190,000 and $275,000 which was consistent with the expected decline from when they first put their home on the market.

The market study we concluded most recently now placed the value range of their home between $132,000 and $213,000. You’ll see that the study was conducted in exactly the same search grid, their very neighborhood. These statistical models can be duplicated in nearly every neighborhood in the valley. The value disparities grow wider as the price point of homes increase.

Our clients had already been in touch with a lender, Morgan-Stanley-Chase. The maximum amount their lender would loan on their home was 80% of the appraised value and could be as low as only 75% of the appraised value. We suspect that the appraised figure could come in somewhere around $175,000. Our client owed about $175,000 on their home. If their lender agreed to an 80% LTV (Loan To Value) loan, that would mean that our client would have to supplement their re-fi with about $35,000 of their own money plus any additional closing costs. While their monthly mortgage payment would drop significantly, perhaps as low as $950.00 PITI, if they were successful in securing a loan at 5% interest. The challenge we saw for them was that the recovery time for such an investment could be very objectionable to them... and in fact it was.

The reality is that local real estate industry analysts project, in some communities of Maricopa county, property values could fall an additional 5% to 10% over the next 12 months. If industry analysts and pundants are even partially accurate about the future of the economy and if the downward landslide of property values finally comes to rest in mid to late 2010 and then flat-lines until the end of that year, that would mean that the upward march of property appreciation may not begin until the first ¼ of 2011.

A Few Numbers To Consider

Our clients purchased their home in August 2005 for about $265,000. They spent an additional $80,000 in upgrades, brining their total investment to $345,000.

Given our market studies, let’s assume today their home is valued, by an appraiser, at $175,000. If property values decline even... only... an additional 5% over the next 12 months, such depreciation would devalue their home an additional $8,700 down to $166,250. That puts their property value nearly $100,000 below their initial purchase price of $264,605 in August 2005. Now add in improvements and upgrades they expensed, and you see that the economic ground to make up will be considerable; nearly $180,000.

If we agree that property values will begin their upward appreciation value march by January 2011 and if we use a 20 year historic statistic, here in the valley, of 3.75% annual appreciation, that would translate into our client not recovering, simply the original value of $264,000, until about 2026. If they have hopes of recovering all of their investment, such an aspiration may not occur until 2037. The time could be a bit shorter given the reality that, statistically and traditionally, as real estate markets recover from each cycle of downward trending, the annual appreciation scale may grow by .5% to 1% per year. However… we would wager that it will be decades, if not longer, before the valley or the nation sees the kind of property value inclines that were experienced between 2004 and 2006.

We are hopeful that our clients will give very attentive consideration to investing any additional capital into, what is currently a depreciating asset.

Here’s a really head twister about the word “ASSET”. Dictionary.com defines the word "ASSET" as (a single item of ownership having exchange value). Hummmm… exchange value… hummm… if our clients will need to add an additional $30,000 to $35,000 of their own money… just to obtain refinancing loan approval… is their home truly an “ASSET” at this point in time?

The origin of the word “asset” comes from the French word “asez” – “enough”. Now... there's a real enlightening word, "enough". When is it time to simply call it a day and say... "enough is enough"? One could argue that in today's economy, real estate is hardly an "ASSET". Oh... don’t misunderstand… real estate values will incline and rise again, they always do. The question is, how long is a property owner willing to wait to reach the point of ROI (Return On Investment?)

If you have sufficient equity in your home, to refinance at the terrific fixed interest rates that are on the table today, DO IT NOW. If you wait to see... "...just how low rates will drop..." you might just miss out on a golden opportunity. Simply use good judgment when you select your lender. It is usually best to stay with the lender who currently holds your note. You can usually work out relatively favorable closing cost concessions. Oh yes... the term, "sufficient equity" should not be confused with having to add additional capital to your investment in order to complete the refinance. If you plan on remaining in your home for a length of time that would translate into a recapture of any additional cash investment within a fixed and acceptable period of time, then take the step and make the investment. However... if you're upside down to the magnitude of the example in this BLOG, you may want to rethink carefully if such an investment is a prudent place to warehouse your hard earned dollars.

For buyers, it couldn’t be a better time to invest in real estate, as long as they have the intention of remain in their new home for, at a minimum, of 3 to 5 years. Anything less could prove to be a challenge when it comes time to sell their home. Real estate will always remain the fulcrum that helps balance the economic scales of our economy. The recovery time may take just a bit longer this time, when compared to other cyclical downturns then upswings.

Lori & G-II are licensed REALTORS® with Coldwell Banker Residential Brokerage. They can be reached by cell phone at either 602.574.5674 for Lori or 602.796.5674 for G-II or via eMail at mailto:Lori.and.G-II@RealEstateInPhoenix.net.

If you would like to chat with us live, simply click the Google Talk Icon.


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Sunday, October 26, 2008

Lessons Forgotten are Lessons Learned

Sellers today have a particular challenging decision to make, "Do I sell or do I sit out the market and wait for a more opportune time?"

Today's Arizona Republic
noted that property prices/values in the Valley have retreated from the gains realized during the boom days of 2003, 2004 and 2005 backward to a pre-boom era. Some Valley communities are seeing property values/prices retreat to those of 2002/2003. These sobering realities heap a very interesting set of scenarios on today's Sellers and Buyers.

As a Seller, consider the following:

The challenges Sellers face today is that most of the inventory Sellers compete against is foreclosed and/or Short Sale inventory, which in turn pulls the property values down in their neighborhood.

Being both a Buyer and Seller produces a double edge sword. On the one side, if a Seller is going to get in and stay in the game, the Seller will sell for far less than they had expected. The reality is... when the market finally corrects itself, property values will begin their slow and steady climb upward. But… keep this point in mind, once that upward swing begins… and it will begin… sometime in the future… perhaps as early as the second ¼ of 2010… if Maricopa County re-establishes her statistical bellweather appreciation curve of 3.5% to 4% per year, a property that would be valued at $265,000 in 2010 could be worth about $310,000 in 2015. The question that must be answered by today’s Seller is, “Am I willing to wait 5 to 7 years to capitalize on the equity I will build in my home over that period of time, or do I cut my losses… in my current home… today… and target a purchase for… perhaps less capital investment and then deal with the same upward appreciation curve described above?”

As a Buyer, consider the following:

On the other side of the sword blade, a Buyer or Seller (turned Buyer) can capitalize on the pain of the Seller they purchase from, ultimately making a purchase of their next home for much less than that Seller thought they would sell for and in all likelihood for a price that could never have been attained only a few years ago. Perhaps equally important is the very real probability that the home purchased today, may indeed, devalue a bit more before the market corrects itself. Some market analysts project that the real estate market will "over correct" to the bottom and beyond, before making a swing back upward. One thing is certain, no one knows where the bottom is!

Unfortunately, there is no clear cut answer to these and other questions. Each Buyer/Seller must weigh their own investment portfolio and then decide for themselves, which direction to go. "Do ya hold-em or do ya fold-em?"

Before I close I ran a few numbers through the G2-O'Meter and here's what I pondered.

Mr. Buyer today wants to buy his first house. He has his eye on a charming little bungalow priced at today's market value of $150,000. Mr. Buyer earns $50,000 per year. He is unlike the majority of first time Buyers today and has saved $20,000.

He can secure a loan for 6.5% bringing his PI to $855.00. His TI will be $150 and his MI will be about $80 bringing his total PITIMI to $1,155.00. His DTI (Debt to Income) ratio is 28%, well within Fannie/Freddie/Sally/Ginny lending guidelines. Mr. Buyer has a modest car payment, one for each of his modest automobiles, only $300 per month for each auto. He has minimum credit card debt, only $200.00 per month. Therefore his total committed cash out each month is $1,955, not including his cost for fuel, food, insurance and disposable income. Therefore his total cost of living, month to month, including his new house payment will be right at $3,000.

Now... let's put Mr. Buyer in his new home. He has exhausted his savings account because he had to put a minimum of 10% down ($15,000) and he had to pay his own closing costs, about $5,000. Mr. Buyer has NO cash reserves any longer. His total monthly cash outlay is 73% of his monthly income. What if he gets sick? What if his wife gets sick? What if his children get sick? What if his health insurance deductable, if he has health insurance, is so great that his cash outlay exceeds his income? Can he continue to be the frugal saver he was before he purchased his home?

I postulated this scenario to demonstrate where our real estate market may be heading. Do you think that it could come to pass that our nation re-visits the philosophy of our grand parents, wherein major purchases were made, ONLY if you had the cash to make such a purchase? Do you think if our national mindset takes this road, that Buyer's of real estate, could put off their purchase until they have enough of a cash reserve to sustain an unexpected "perfect storm of life"?

I don't know the answer and I'm not sure anyone out there does, but what I am certain of is... we're in for a very different upcoming decade or two. A few decades of frugal living and thrift spending. Do you think the Real Estate Industry might see our ranks shrink as those agents who got in the business of late run for more stable income producing platforms? If we do see a shrinking of our REALTOR ranks, do you think there will be enough business out there to grow our business? To the last questions, I am convinced the answer is Absolutely YES!

For those of you reading this BLOG post, who are not real estate agents, lenders, appraisers or home inspectors, you may find some component of my post that will lend itself to your own profession.

I believe that the questions raised are good ones. I believe we must all take a good hard look at where we have come, what we are going through and then set our sights on how NEVER to have to endure this kind of damage again. The first time this happened, "The GREAT Depression" our country was still young. She had never seen an economic down turn like that. The shame of where we find ourselves, as a nation and as individuals... today... is that we lost sight of what our grandparents learned and what they taught our parents and what our parents tried to teach us. We must learn this lesson this time so that our children and our children’s children never have to walk in this pit of fire again!


Lori & G-II are licensed REALTORS® with Coldwell Banker Residential Brokerage. They can be reached by cell phone at either 602.574.5674 for Lori or 602.796.5674 for G-II or via eMail at Lori.and.G-II@RealEstateInPhoenix.net.

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Lessons Forgotten are Lessons Learned

Sellers today have a particular challenging decision to make, "Do I sell or do I sit out the market and wait for a more opportune time?"

Today's Arizona Republic
noted that property prices/values in the Valley have retreated from the gains realized during the boom days of 2003, 2004 and 2005 backward to a pre-boom era. Some Valley communities are seeing property
values/prices retreat to those of 2002/2003. These sobering realities heap a very interesting set of scenarios on today's Sellers and Buyers.

As a Seller, consider the following:

The challenges Sellers face today is that most of the inventory Sellers compete against is foreclosed and/or Short Sale inventory, which in turn pulls the property values down in their neighborhood.

Being both a Buyer and Seller produces a double edge sword. On the one side, if a Seller is going to get in and stay in the game, the Seller will sell for far less than they had expected. The reality is... when the market finally corrects
itself, property values will begin their slow and steady climb upward. But… keep this point in mind, once that upward swing begins… and it will begin… sometime in the future… perhaps as early as the second ¼ of 2010… if Maricopa
County re-establishes her statistical bellweather appreciation curve of 3.5% to 4% per year, a property that would be valued at $265,000 in 2010 could be worth about $310,000 in 2015. The question that must be answered by today’s Seller is,
“Am I willing to wait 5 to 7 years to capitalize on the equity I will build in my home over that period of time, or do I cut my losses… in my current home… today… and target a purchase for… perhaps less capital investment and then deal with the same upward appreciation curve described above?”

As a Buyer, consider the following:

On the other side of the sword blade, a Buyer or Seller (turned Buyer) can capitalize on the pain of the Seller they purchase from, ultimately making a purchase of their next home for much less than that Seller thought they would sell for and in all likelihood for a price that could never have been attained only a few years ago. Perhaps equally important is the very real probability that the home purchased today, may indeed, devalue a bit more before the market corrects
itself. Some market analysts project that the real estate market will "over correct" to the bottom and beyond, before making a swing back upward. One thing is certain, no one knows where the bottom is!

Unfortunately, there is no clear cut answer to these and other questions. Each Buyer/Seller must weigh their own investment portfolio and then decide for themselves, which direction to go. "Do ya hold-em or do ya fold-em?"

Before I close I ran a few numbers through the G2-O'Meter and here's what I pondered.

Mr. Buyer today wants to buy his first house. He has his eye on a charming little bungalow priced at today's market value of $150,000. Mr. Buyer earns $50,000 per year. He is unlike the majority of first time Buyers today and has saved $20,000.

He can secure a loan for 6.5% bringing his PI to $855.00. His TI will be $150 and his MI will be about $80 bringing his total PITIMI to $1,155.00. His DTI (Debt to Income) ratio is 28%, well within Fannie/Freddie/Sally/Ginny lending guidelines. Mr. Buyer has a modest car payment, one for each of his modest automobiles, only $300 per month for each auto. He has minimum credit card debt, only $200.00 per month. Therefore his total committed cash out each month is $1,955, not including his cost for fuel, food, insurance and disposable income. Therefore his total cost of living, month to month, including his new house payment will be right at $3,000.

Now... let's put Mr. Buyer in his new home. He has exhausted his savings account because he had to put a minimum of 10% down ($15,000) and he had to pay his own closing costs, about $5,000. Mr. Buyer has NO cash reserves any longer. His total monthly cash outlay is 73% of his monthly income. What if he gets sick? What if his wife gets sick? What if his children get sick? What if his health insurance deductable, if he has health insurance, is so great that his cash outlay exceeds his income? Can he continue to be the frugal saver he was before he purchased his home?

I postulated this scenario to demonstrate where our real estate market may be heading. Do you think that it could come to pass that our nation re-visits the philosophy of our grand parents, wherein major purchases were made, ONLY if you had the cash to make such a purchase? Do you think if our national mindset takes this road, that Buyer's of real estate, could put off their purchase until they have enough of a cash reserve to sustain an unexpected "perfect storm of life"?

I don't know the answer and I'm not sure anyone out there does, but what I am certain of is... we're in for a very different upcoming decade or two. A few decades of frugal living and thrift spending. Do you think the Real Estate
Industry might see our ranks shrink as those agents who got in the business of late run for more stable income producing platforms? If we do see a shrinking of our REALTOR ranks, do you think there will be enough business out there to grow our business? To the last questions, I am convinced the answer is Absolutely YES!

For those of you reading this BLOG post, who are not real estate agents, lenders, appraisers or home inspectors, you may find some component of my post that will lend itself to your own profession.

I believe that the questions raised are good ones. I believe we must all take a good hard look at where we have come, what we are going through and then set our sights on how NEVER to have to endure this kind of damage again. The first time this happened, "The GREAT Depression" our country was still young. She had never seen an economic down turn like that. The shame of where we find ourselves, as a nation and as individuals... today... is that we lost sight of what our grandparents learned and what they taught our parents and what our parents tried to teach us. We must learn this lesson this time so that our children and our children’s children never have to walk in this pit of fire again!


Lori & G-II are licensed REALTORS® with Coldwell Banker Residential Brokerage. They can be reached by cell phone at either 602.574.5674 for Lori or 602.796.5674 for G-II or via eMail at Lori.and.G-II@RealEstateInPhoenix.net.

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Sunday, October 12, 2008

REOs vs. The Short Sale... Sale Prices

Well... another bumpy ride on Wall Street last week... but then again... that's not news to anyone. Here's what you may not know though, the Real Estate Market may be in the beginning stages of stabilizing.

The Arizona Multiple Listing Service reports that there are over 6,200 residential properties currently in the Sale Pending category. This is about the same number of homes that were in the SOLD category in 2001, 2002 and 2006. Of the 6,200 homes in the Sale Pending category, a little over 2,000 were placed in the Sale Pending category between October 1st and 12th. Of that number over half are distressed property sales and of that number, over 80% are REO sales.

In the $125,000 to $175,000 price range REOs were reduced, from list price to sale price by as much as 24%. The difference between list and sale price for Short Sale transactions is only about 20% (*source ARMLS 10/2008). These statistics encompass all of ARMLS, an area spanning over 200,000 square miles. Nevertheless, the statistics demonstrate two important facts for real estate agents, sellers and buyer. First for the buyer; if the buyer is looking to purchase a Short Sale property, the buyer should be aware that lenders who negotiate Short Sale's for sellers are more inclined to hold out for sales closer to the actual value of the property. Second, these statistics also demonstrate the probable naïveté of the REO asset manager. ARMLS statistics show a growing trend for REO asset managers to accept offers that are far below the list price and even substantially below market value.

Buyers should understand that if he or she makes a purchase of an REO that is below probable market value, their purchase price helps set the value of the neighborhood. Therefore, making such a purchase could be considered a double edged sword; a great buy in terms of cash outlay but perhaps a detriment in terms of perceived value for future buyers of product in that community.

Why is this important? Because it is important for the buyer to know and understand market trends and to nderstand that these swings between list price and actual sale price can vary widely from community to community, city to city and state to state.

Here's an example. In the first 12 days of October 2008, in Surprise or El Mirage Arizona, the difference between list price and sale price for REOs was about 16%. Oddly enough, that was about the same statistic for sales of Short Sale transactions in the same cities. However, in Goodyear, REOs sold for about 13.50% less than the list price while Short Sale transactions closed only 9% less than list price.

It's important for sellers and buyers to seek out licensed REALTORS® who are well schooled in conducting these types of analyses. Making a real estate purchase in today's real estate market can be a huge win or a costly undertaking.

Lori & G-II are licensed REALTORS® with Coldwell Banker Residential Brokerage. They can be reached by cell phone at either 602.574.5674 for Lori or 602.796.5674 for G-II or via eMail at Lori.and.G-II@RealEstateInPhoenix.net.

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Sunday, April 13, 2008

Do You Have To Seller Your House?

Hello, Folks!

If you are ready for MAXIMUM EXPOSURE on FOX 10, CLICK HERE to listen to Lori explain the mission.

Please excuse the informal greeting, but obviously, you have not provided your name yet... ;-)

If You want to sell your home... first... ask yourself these very important questions.
  1. Do you NEED to sell your home?
  2. Or... do you WANT to sell your home?
  3. Do you think there is a difference between the two selling postures?
  4. Do you want the REALTOR® you hire to put your interests and the wellbeing of your family above all else, including himself or herself?
  5. Do you want to sell your home for the most money you can capture in today's real estate market?

If you want to explore the answers to any of these questions, call Lori at (602) 574-5674 or drop Lori and eMail at Lori.and.G-II@RealEstateInPhoenix.net or Lori.and.G-II@GoAirForceHomes.info.

Bye for now. We would like to be part of your solution.

For more market statistics and graphs CLICK HERE and HERE and HERE.

Lori holds the prestigious (CNE) Certified Negotiation Expert certification. CLICK HERE to read more about Lori.