Short Sales in Chandler, AZReal Estate BlogsUpdated on Dec 13, 2011 View more like this | Visit PHOENIX, AZ | Contact Debbie Nieman |
Short Sales in Chandler, AZ are dwindling inventory wise. There are currently less than 75 homes available as Short Sales in Chandler, AZ. What does that mean if you’re searching for Short Sales to purchase?
Whether you’re new to the market or have been looking for some time you will find the following properties available as Short Sales for less money than what these properties sold for a few years ago.
1. Single Family Homes
2. Townhomes or Condo's
3. Duplexes
4. Gated Communities
5. Golf Course Homes
6. Luxury Properties
7. View Properties
8. Horse Properties
9. Waterfront Homes
10. Retirement Homes
This is a great way for someone wanting to get into the market to do so by looking at Short Sales in Chandler, AZ. Whether you’re a first time home buyer, investor or looking for that part time property, looking at Short Sales is a great way to get into this market. Current interest rates are below 5%, what are you waiting for? Short Sales are not going to always be here. Short Sales with less than 5% interest rates won’t last long either!
What a Short Sales is: A property that has depreciated in value since the current owner purchased it. The owners owe more than the property is worth and are asking the bank to forgive a portion of that note, hence short selling the property as a Short Sales. It doesn’t mean Short Sales take a short amount of time to close. As a guideline a traditional or foreclosed home can close within 30 days where a short sales property usually takes months to close. The reason is besides the buyer and seller agreeing on the short sales the bank needs to give their blessing on the transaction of the short sales as well.
When one purchases a Short Sales as the buyer they are generally purchasing it as is. Which means the Short Sales property is being sold with no repairs being done by the seller and or sellers lender. The exception is when a sellers lender will make repairs on a short sales property. That occurs when it’s a buyers’ lender’s requirement and the buyers lender will not fund the loan and therefore cannot close without those repairs being made. That is generally the only time a bank will make repairs on Short Sales properties.
With inventory down dramatically from what it was just last year, you don't want to wait. Inventory in the Phoenix area especially in the east valley shows current market shares less than 3 months supply for single family homes in the East Valley which includes Short Sales.
Whether you’re new to the market or have been looking for some time you will find the following properties available as Short Sales for less money than what these properties sold for a few years ago.
1. Single Family Homes
2. Townhomes or Condo's
3. Duplexes
4. Gated Communities
5. Golf Course Homes
6. Luxury Properties
7. View Properties
8. Horse Properties
9. Waterfront Homes
10. Retirement Homes
This is a great way for someone wanting to get into the market to do so by looking at Short Sales in Chandler, AZ. Whether you’re a first time home buyer, investor or looking for that part time property, looking at Short Sales is a great way to get into this market. Current interest rates are below 5%, what are you waiting for? Short Sales are not going to always be here. Short Sales with less than 5% interest rates won’t last long either!
What a Short Sales is: A property that has depreciated in value since the current owner purchased it. The owners owe more than the property is worth and are asking the bank to forgive a portion of that note, hence short selling the property as a Short Sales. It doesn’t mean Short Sales take a short amount of time to close. As a guideline a traditional or foreclosed home can close within 30 days where a short sales property usually takes months to close. The reason is besides the buyer and seller agreeing on the short sales the bank needs to give their blessing on the transaction of the short sales as well.
When one purchases a Short Sales as the buyer they are generally purchasing it as is. Which means the Short Sales property is being sold with no repairs being done by the seller and or sellers lender. The exception is when a sellers lender will make repairs on a short sales property. That occurs when it’s a buyers’ lender’s requirement and the buyers lender will not fund the loan and therefore cannot close without those repairs being made. That is generally the only time a bank will make repairs on Short Sales properties.
With inventory down dramatically from what it was just last year, you don't want to wait. Inventory in the Phoenix area especially in the east valley shows current market shares less than 3 months supply for single family homes in the East Valley which includes Short Sales.
