Archive for June, 2009

Avoiding Foreclosure

Monday, June 29th, 2009

NEW HELP/HOPE FOR TROUBLED HOMEOWNERS

Everyone is aware of the “Foreclosure” crisis effecting most of the country and our home town of Bullhead City real estate is also affected.  Much has been written about Homeowners who are “upside down” or “underwater” with home loans that are now higher than the value in their homes. Since our Bullhead City, Fort Mohave and Mohave Valley real estate market saw the values rise at an amazing rate, we are now experiencing the downside of a declining market.  What can a person do who is faced with this situation and is falling behind with loan payments?

2009 Real Estate Market Update

Thursday, June 25th, 2009

A Message from the President

Find your Dream Home in Arizona

Saturday, June 20th, 2009

Is your dream home etched in your mind? Are you just waiting for the perfect time to bring it to reality? Now is the time! The market is slow at this time, which makes it a buyer’s market. With the interest rates low and many homes available, there is no better time than the present especially if you are looking for a home in the Bullhead City, Fort Mohave, Mohave Valley Arizona areas.

May 2009 Bullhead City Market Update

Tuesday, June 9th, 2009
 As a result of this real estate and economic downturn I decided to attend a two day course in Phoenix last week.  Along with 250 REALTORS, we earned the CDPE designation.  The Certified Distressed Property Expert members are actively working to assist homeowners avoid foreclosure.  As the days unfolded we were taught techniques to successfully negotiate a short sale for our clients.  The class was a very eye opening event.  I now understand the urgency and will do my part in keeping foreclosures from occurring. Although a short sale negatively affects values in a neighborhood, it is not as detrimental to the values as a foreclosure.  The sale price of the short sale is generally higher than a foreclosure due to the fact that the home is conveyed to the buyer in good condition.  The neighbors benefit as they do not endure the unsightly neglect a property endures during the foreclosure period.  As we all know condition is one of the largest factors buyer’s places on the property when setting the offer price. 

May 2009 numbers are in and fortunately the inventory seems to be holding at slightly over 700 active homes on the market.  Sales are up 22% over last month and of those sales, the foreclosures market share dropped accounting for 59% of the market.  As we have seen in past months, with the drop in foreclosure sales, the average ($162,176) and median ($142,000) sales price is up slightly.  Full report click here.

Favorable time to buy a home.

Tuesday, June 9th, 2009

Record-Low Interest Rates, Great Prices and Spring. What Does It All Mean? “Our Busiest Time of Year,” says Country Ranch GMAC Real Estate

Brookfield Residential Property Services, which bought GMAC Real Estate in Late 2008, is adding to renewed optimism

 

Bullhead City, AZ (Grassroots Newswire) June 3, 2009 — With the spring home-buying season in full swing and record-low interest rates and a decent inventory of homes for sale luring buyers off the fence, real estate professionals in Bullhead City are busier than they’ve been in many months according to Michael Fahey of Country Ranch GMAC Real Estate based in Bullhead City.

Helping Home Owners Avoid Foreclosure

Wednesday, June 3rd, 2009

Petra Fahey and Pamela Mello of Country Ranch Realty have earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.