Username:   Remember Me
Password:  

Uber Articles {Über (ger) adj. above, beyond }

- Above and Beyond a Mere Article Directory

 
 

What To Know About Phoenix Housing

By Alfred Wendler

Wondering what the deal is with Phoenix housing? What once was a hot market turned cold, and now seems to be in demand again.

What you need to know is what is going on with foreclosures and short sales. Both can be great bargains if you know what you are looking for. And if you have done your homework.

Houses for sale in Phoenix will mostly fall in to one of these categories. The way that the sale of each is handled varies greatly.

Bank owned homes are called foreclosures, where the bank took ownership of the home after the previous owner failed to make the required monthly payments. Since the bank is in the business of lending money and not in owning homes, they want to sell the home as quickly as possible.

Short sales are homes for sale that have a mortgage on them, and the house is worth less than what is owed on the mortgage. The sale is contingent upon the mortgage holder approving the sale, and they will not start to consider the request for approval until somebody has made an offer to buy the house. There are many variables the bank will use to determine if the short sale will be approved, and nobody seems to know exactly what those criteria are as they seem to change frequently.

Foreclosures are the easier of the two types of homes for sale to buy because the bank is motivated to sell. The bank is being asked to take a loss in a short sale and may be hesitant to do so. The chance of a short sale you are interested in buying being approved is hard to know.

The best bet is to look at foreclosure houses in Phoenix first, then if you are not able to find anything you like, to consider short sales. The great thing is that there is no shortage of either, so with a little patience and perseverance you should be able to find a great home at a great price.

For more assistance with buying a Phoenix house for sale, be sure to check out Alfred’s site www.realestatehelpsite.com. There you can find valuable tips on how to buy a house in Phoenix for the first time home buyer.

Article kindly provided by UberArticles.com

Topics: Real Estate | Comments Off

Tags: , , , , , , , , , ,


Article Citation
MLA Style Citation:
Wendler, Alfred "What To Know About Phoenix Housing." What To Know About Phoenix Housing. 22 Jun. 2010. uberarticles.com. 10 Jan 2015 <http://uberarticles.com/real-estate/what-to-know-about-phoenix-housing/>.

APA Style Citation:
Wendler, A (2010, June 22). What To Know About Phoenix Housing. Retrieved January 10, 2015, from http://uberarticles.com/real-estate/what-to-know-about-phoenix-housing/

Chicago Style Citation:
Wendler, Alfred "What To Know About Phoenix Housing" uberarticles.com. http://uberarticles.com/real-estate/what-to-know-about-phoenix-housing/


Reprint Rights

Creative Commons License
This article is subject to a revocable license under a Creative Commons Attribution-No Derivative Works 3.0 Unported License, which means you may freely reprint it, in its entirety, provided you include the author's resource box along with LIVE VISIBLE links (without "nofollow" tags). We may revoke the license at any time with or without cause. You must also include the credit to UberArticles.com.

Comments are closed.

Disclaimer
Uber Articles and its partner sites cannot be held responsible for either the content nor the originality of any articles. If you believe the article has been stolen from you without your permission, please contact us and we will remove it immediately. If you have a problem with the accuracy or otherwise of the content of an article, please contact the author, not us! Also, please remember that any opinions and ideas presented in any of the articles are those of the author and cannot be taken to represent the opinions of Uber Articles. All articles are provided for informational purposes only. None of them should be relied upon for medical, psychological, financial, legal, or other professional advice. If you need professional advice, see a professional. We cannot be held responsible for any use or misuse you make of the articles, nor can we be held responsible for any claims for earnings, cures, or other results that the article might make.
  • RSS Feed

    RSS for Real Estate




  • Plugin UAW into your sites and start receiving fresh, unique and niche relevant content today and everyday!