Arizona Investment Properties – What you need to know about Short Sales

On December 2, 2009 ·

In the state of Arizona, current statistics indicate nearly 2 out of every 10 real estate transactions are short sales. They are as popular as ever with investors, and the U.S. government continues to push this type of sale, especially with the Treasury Department tweaking rules these last few days in an effort to curb foreclosures. However there are several pitfalls that investors need to pay mind of before they move forward on a particular piece of property.

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Under Short Sales vs. Trustee Sales

REQUEST Application – Qualify 4 BID SERVICE

- Go to Contact Form - (480) 442 - 1001

GET Home Foreclosure List – BUY at Trustee Sales

- AZ Foreclosed Home, Condo, Property Lists - Trustee Sale

Resources – Foreclosures & Arizona Trustee Sales

- Anticipating a Phoenix Market Recovery & Cash Flow Rental Properties

- 90-day Property Flipping Rule Waived by HUD; 1 year lift beginning Feb. 1st

- Phoenix Metro Median Home Prices Stable, Resale Volume Highest in 2 years

- Power-House Flipping – Re-sell 28 of 31 Homes Purchased at Phoenix, AZ Trustee Auctions

- Dec. 2009 Spike in Foreclosures, Seek out Investment Rental Homes Calculating Solid Caps

- U.S. Job Loss Slows in Jan. - Market Showing Signs for Stabilizing

- Obama Administration Pushing Short Sale Transactions in an Attempt to Curb Foreclosures

- Obstacles for Home Flippers and the FHA Seasoning Rules

Foreclosure Auction Results of Trustee Sales - Phoenix, Maricopa County

Wholesale Properties in AZ

Foreclosure Property Investments – Auction TIPS

1. First and foremost, find a source that is providing foreclosed property listings with 'comprehensive' information, and develop a system for filing.
2. Filter through the properties locating the real estate with built in equity. What is owed? Are there any junior lien holders?
3. Investigate the neighborhood comparables, comprise a list map, then get in your car and visit the properties.
4. Set your maximum bid price. This sounds simple and straightforward, however the fast-paced action of the bidding process can cause the most reserved person to hastily over-compete for a not-so-great piece of property.

Arizona Notice of Trustee Sales – LIVE Auction Bidding Process

1. 90 days has passed since the Notice of Trustee Sale is issued. Prior to sale, the Trustee establishes the opening or minimum bid to be accepted at auction by referring to the calculated Credit Bid Statement prepared by the respective Beneficiary.
2. On the 91st day, said property is put on the auction block. All bidding is open and verbal. $10,000 cashier check in hand is required by all parties bidding.
3. Highest bidder must present the funds in total to the Trustee by 5pm of the next business day in order to gain title.
4. Acceptance of funds results in the recording and conveyance of a Trustee's Deed; funds are disbursed to the Beneficiary.