A native of Mesa Arizona with over 25 years experience in real estate. Specializing in new/resale, HUD and forclosures, commercial, and investment real estate in the Mesa, Tempe, Gilbert, Scottsdale, Chandler, Phoenix, and surrounding areas. Realtor (R) and member of the local MLS. Need information on the housing market, weather, school districts, or would like a free information packet? Then just call or e-mail me.

Building A Better Community

QUESTION: What is a "short sale"?

A short sale in todays's market is a situation where the owner of a property with the cooperation of his /her lender sells the property for LESS that what is actually owed on the property. There is more to this scenario but the important issue to remember is that this allows the owner to transfer his/her property without the property going into foreclosure. Many of the properties for sale in the Phoenix metropolitan area are "short sales" and if a buyer is patient(a very important aspect in this process) then this market offers potentially great rewards for that buyer.

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