Prescott Arizona Area Foreclosure Real Estate

10 questions for Prescott AZ short sale brokers

Jerry Cecil — Tue, 23 Aug 2011 04:52:27 +0000

In an earlier post, Foreclosure/REO/bank-owned or short sale?, about the Prescott and Prescott Valley foreclosure and short sale markets, I was amazed to find how few short sales were actually closing in the Quad-City area.

After doing some more research on this, it seems that some agents are taking short sales without the right skill sets, and [...]

Top 10 tips to win the REO multiple offer game

Jerry Cecil — Tue, 23 Aug 2011 04:44:25 +0000

The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price. When banks price REOs under the market price, multiple offers are often the response. This means buyers can be up against stiff competition for that bank-owned home.

It’s not unusual for [...]

The Importance of Finding a Certified Short Sale Agent to Help Sell Your Home

Jerry Cecil — Tue, 23 Aug 2011 04:31:38 +0000

Can all agents can do short sales right? Yes.

Are all agents trained to do short sales? No.

Short sales are tough. They involve legalities, financial and tax questions, and negotiations. You really don’t want just any agent to help you sell your home. you really want someone who has proven short sales training. It’s important to look for [...]

Short Sale Processing -BofA and the Equator System

Jerry Cecil — Tue, 23 Aug 2011 04:11:42 +0000

Lenders process short sale in different ways. Bank of America now processes short sales through the equator system. BofA ntroduced the equator system in 2009. At first, it was cumbersome, confusing and frustrating. Documents were lost and the process was plagued with delays. Now, the equator system is state-of-the-art. It has streamlined the short sale process. [...]

Does a Short Sale Mean That You are a Horrible Person?

Jerry Cecil — Tue, 23 Aug 2011 03:48:47 +0000

Short Answer, no. I counsel many people on short sales. I list many homes as short sales. Many people going into a short sale have the same sort of reluctance. They feel as though they are horrible people and bad financial planners. I tell them that back when they purchased the home, they were approved by [...]