Buying a house in Phoenix is an exciting time for anyone, but it can also be stressful for a number of reasons, not least of which is moving. There are so many details to handle when moving to a new home, and with so many houses for sale in the Phoenix area, you may end up moving all the way across the Valley. Fortunately, there are a few steps that you can follow to make the moving process much easier and less stressful. Continue reading
Author Archives: Reed Lattin
4 Common Elements of Beautiful Arizona Homes
When buying houses in Arizona, All Homes AZ sees a great variety of styles that are unique to the area. Of course, every city and state across the nation has its own charm and style to it, and Arizona homes are certainly no exception. With our extensive knowledge of Arizona real estate, we get to see the beautiful architecture that our state has to offer first hand. Since we buy houses in Arizona every day, we know the best options for those seeking a truly unique home that offers the best styles and charm the state has to offer. Continue reading
Top 5 Reasons to Live in Phoenix, Arizona
Phoenix is home to over 1.5 million residents, and for good reasons! Known as the Valley of the Sun, Phoenix is a destination city in the southwest United States due to the year-round warm weather, breathtaking natural landscape, diverse and enriching communities along with luxurious spa, golf and hotel experiences. What more could you ask for? Continue reading
Top 5 Reasons to Hold a Short Sale in Arizona
Do you want to sell your home without the hassle of hiring a real estate team? Is time of the essence when it comes to your next move? Are you experiencing financial stress and need immediate relief? If you answered yes to one or more of these questions, you should consider opting for a short sale for your Phoenix home. Continue reading
Following the Arizona Housing Market in 2017
If you are buying or selling a home in Arizona, you’re in luck! Experts predict that the Arizona housing market will finally level out in 2017 after the 2010-2011 market crash, and we couldn’t be happier about it. Let’s face it, Phoenicians have been waiting with baited breath for the market to improve since the crash and 2017 is the year the relief arrives. So, what does the market look like? Continue reading
Why Choose All Homes AZ Over a Realtor
As times change, people from all walks of life notice that their day-to-day lives tend to change too. Perhaps it is time to follow that dream and move cross-country to pursue an exciting opportunity, or maybe your family has simply outgrown your current house.
Alternatives to a Short Sale in Phoenix
What is a Short Sale?
It’s important to understand exactly what a short sale is before considering one. Sometimes mistaken as just another term for a foreclosure, a short sale is actually very different. Phoenix Homeowners who short sell are generally trying to avoid a foreclosure by working out a deal with the bank. Contrary to popular belief, in this case the bank actually wants to work with homeowners, as a foreclosure is a lengthy and very expensive process for the bank. Continue reading
Quick Tips to Boost Curb Appeal and Sell Your House Fast!
When trying to sell your home, it’s important to sell it quickly. The longer your house sits on the market, the further its value will drop, and you’re still paying homeowner insurance, utilities and the mortgage in the meantime. Luckily, there are some quick and easy tips to follow that can make your home much more appealing to potential buyers and therefore sell your house fast in the Phoenix area! Continue reading
What to Do When Your Phoenix Home has Water Damage
Water damage in Phoenix is not what most people expect when purchasing a desert home, but the truth is flooding can occur in any state, city or street. Arizona’s monsoon season begins on June 15th and lasts until September 30th, but storms become more frequent and bountiful toward the end of the summer. This rare seasonal rainfall actually makes the ground resistant to water when monsoon season arrives, so a great deal of water can trickle downhill and into residential homes. The summer heat combined with moisture is the ideal formula for mold, microbial growth and airborne contaminants that make residents sick. In the case of water damage, homeowners have a few options. Continue reading
What Causes a Home to Reach Foreclosure?
Foreclosure is the process by which a lender takes back ownership of a property from whomever borrowed money to purchase the property. This occurs when the borrower no longer makes the mortgage loan payments on time. So what causes someone to reach foreclosure on their home?
Arizona operates as a title theory state, which means that the lender holds the title to the property until the underlying loan obligation is paid in full. This gives the lender the right to foreclose on the property if the borrower defaults on the loan. The primary method of foreclosure in Arizona is known as non-judicial foreclosure, meaning that foreclosure does not involve a court action but requires notice commonly called foreclosure by advertisement.
Last year in Arizona, 34,387 properties completed foreclosure. This number may seem high, but with the market slowly turning up, the Phoenix-Mesa-Glendale housing market showed a decline in foreclosure rates in 2013, and that number is predicted to decline even further. This figure can be intimidating to those interested in keeping their home or even buying a new one, but there are plenty of reasons why someone could succumb to foreclosure besides just living beyond their means.
Negative Equity plays a major part in leading to foreclosure. This is where the borrower owes more on their loan than the house is worth. Since lenders will very rarely give a higher loan than the actual worth of the house, negative equity occurs when the price of the house drops, most likely from an economic downturn. Homeowners with equity have options if they run into financial trouble, such as refinancing. Foreclosure is typically the only option that homeowners without equity have.
There are a lot of factors that could contribute to a foreclosure that has nothing to do with the housing market. An illness or death in the family, especially occurring with the head of the household, can quickly result in a foreclosure if the mortgage is left unpaid due to other financial obligations. Divorce can play a major factor in a foreclosure, but the most common situation is when someone refuses to leave and the other refuses to pay the mortgage.
If you find yourself in the midst of a foreclosure, AllHomesAZ.com can help. At All Homes AZ, all consultations for foreclosures in Phoenix are free. No matter the situation, we will work with you to help settle your foreclosure at no cost. Please contact us today and get cash for your home – in any condition – in as little as three days!
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