A great question came into the “Ask the Broker” inbox this morning: We are moving to Tempe next year (May-June 2011) and have found your site and blogs very useful... and entertaining as well! Thank you! We wanted to buy immediately, but we weren't sure if looking into properties for rent is a better option. Is this a feasible strategy in this market? and if so, when should we plan our first visit? Our plan was to 1. Short-list online properties we were interested in and set-up viewing … [Read more...]
Ask the Broker: How fast can you sell my home?
This question just came into the Ask the Broker in-box. We get it all the time”¦ How fast can you sell my house? Are we in a buyers or sellers market? Well, it depends. Depends on what? A myriad of things. . . Where is the home located? Will this be a short sale, or a “traditional” sale? (Short sale meaning you owe more than the home can be sold for. Traditional meaning you have enough equity release costs to satisfy the loan, and your closing costs). What is the condition of the home? … [Read more...]
Can I Withdraw an Offer on a Short Sale Before the Bank Approves it?
From the Ask the Broker files: We submitted an offer on a short sale. The seller accepted the offer and we've been waiting on their lender to approve it for almost three weeks. We're tired of waiting and want to withdraw our offer and find a “real” home for sale. Can we do that and get our earnest money deposit back? My initial response to any communication I get like this is, “You need to talk to your agent”. I can't interfere in an existing agency relationship, which unless you're … [Read more...]
I Love My Home. I’m Underwater. What Do I Do?
A couple of days ago, this question came in from the Ask the Broker page: Question: I love my home .. bought in 2000 for 289,000 re-fi in 2006 at 376000.00 todays worth 305,000 according to zillow. I'm torn, should I short sell and cut my losses or should I keep fast and steady. I'm trying to figure out my home appreciation in 10 years. I reside in peoria zip 85383 What we have here is basically an unanswerable question. Please allow me to explain why”¦. I look at this as a … [Read more...]
Redesigning Phoenix Real Estate Guy. Again.
I can't help myself”¦ If you are reading this blog post on PhoenixRealEstateGuy.com and not in a feed reader, and assuming you've been here before, and you remember what it looked like, then you're well aware that we've changed the look and feel of the blog. If you've been around very long, you also know this happens on a semi-regular basis. TPREG is still running on the fabulous Thesis Theme by Chris Pearson. It also uses the Print is Dead Thesis skin by Adam Barber over at … [Read more...]
The Phoenix Real Estate Guy was started by Jay Thompson, and I have a little blogging problem... he liked to say...