The moral and ethical debate continues but it appears that more people are not taking such a hard line on this issue. A couple of years ago, I was among those that felt that walking away from a mortgage was the absolute last resort and should only happen if there was a severe hardship invloved. A
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10/31/2010
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity th
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10/31/2010
The attached article details a "hiccup" in the housing market in Calgary, Alberta and talks about growing hesitancy by Canadian buyers. Whether or not this will affect their willingness to buy homes in the U.s. remains to be seen. I, for one, will be watching this closely as Canadians make up a l
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10/30/2010
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity th
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10/30/2010
I'm getting sick and tired of the media, and especially builders of new homes, warning buyers about foreclosures. I don't know what your markets are like but in Maricopa Arizona the majority of foreclosure homes are in fabulous condition and there is virtually no risk involved. I will admit that
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10/29/2010
Wells Fargo claims that "foreclosure is a last resort" and that "borrowers who have completed foreclosure were on average 16 months delinquent on their payments". My question: if WF really wants to avoid foreclosure, why can't they process a loan modification or short sale in a year or more! Havi
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10/29/2010
Not a lot of surpriises here but good information nonetheless. It was interesting to see that Seattle actually had the highest increase. Las Vegas, of course, continues to lead the way with one out of 25 homes! That number always amazes me. http://bit.ly/cNsUxO
10/28/2010
The premise of this article is that, though it may be ineffective, at least it has brought awareness to the distressed homeowner and more of them are seeking assistance. To a point, it is correct. I specialize in the distressed home market in Maricopa Arizona and consult with numerous homeowners
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10/28/2010
I'm not sure how accurate this study is but, needless to say, the Greater Phoenix Area has taken a major hit. I would expect to see the decline continue as short sales and foreclosures continue to flood the marketplace and ultimately will drop values even further as they close escrow. The effect
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10/27/2010
For the first time since early 2010, the inventory of single family homes dropped. I track these numbers on a weekly basis and approximately 15 to 30 homes have been added to the inventory each week until now. This has occured even though the number of closed transactions has remained relatively
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10/26/2010
