North Phoenix Real Estate Experts at Liberty One Realty.

Arizona Real Estate

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I believe in honesty and forth coming communication. I practice the REALTOR® Code Of Ethics.

Whether you're buying or selling a home, you will always be my highest priority

Memberships Include:

National Association of REALTOR®, Arizona Association of REALTOR®, Phoenix Association of REALTOR®, Facebook, Twitter, LinkedIn, Blue Chip Expert, Ecademy, Ryze, Trulia, Xing, Smartguy, NetHook, Social Real Estate Tools, TurboMLSArizona, Hi5, etc and etc.

Real Estate Consulting for Residential Buyer Representation, For Sale By Owner Assistance, General Relocation Service, Internet Property Listing, Market Evaluations, Marketing Services, Multiple Listing Service.

FYI on Short Sales

The following is a condensed version of the most popular question a seller may have on short sales. As a REALTOR®, I am not licensed as a lawyer or a CPA and cannot advise on all matters of the short sale process. Please obtain advice from a competent real estate lawyer on legal issues and discuss with your accountant on the tax ramifications that may be unique to your specific situation, and then call me to market your property for sale.

What is a Short Sale?

A short Sale, also know as a short pay or short payoff, allows a homeowner to sell their property for less than the amount owned to the bank. When the market value of the property is less than the amount owed, the owner is considered up-side-down. The proceeds from the sale are used to pay-off the outstanding amount of the mortgage. Although the proceeds will be "short" amount actually owed on the mortgage, it allow a homeowner the opportunity to avoid foreclosure. Ultimately it may put their credit standing in a better position than if an actual foreclosure were to take place. The entire process hinges on the approval of the lender to accept less than the amount due.

What are the credit implications to a short sale?

The hit homeowners take on their credit score is much less on a short sale than a foreclosure. A homeowner involved in a short sale will see a 80 to 100 point drop on his or her credit score. A foreclosure is a 250 to 280 point drop. This is only an estimate, each individual case may vary.

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Real Estate Listing and Homes For Sale at NeighborCity.com  

http://www.realtown.com/members/PhyllisJCAndersonGRI"