Arizona Short Sale Specialists

Home prices drop in November for third straight month

Tue, 31 Jan 2012 23:53:19 GMT

Home prices fell for a third straight month in November in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller home-price index. The only city to see an increase? Phoenix, Arizona.

Phoenix enjoyed a .6% increase for the month, but down -3.6% from November of 2010.

Nationwide prices have fallen 33% since the housing bust, back to 2003 levels. "The trend is down and there are few, if any, signs in the numbers that a turning point is close at hand," said David M. Blitzer, chairman of the S&P's index committee

This continued downward trend along with a sluggish economy will continue to produce short sales and foreclosures as homeowners struggle to keep paying on underwater mortgages.

We can help avoid foreclosure through a short sale, salvage your credit, and help you rebuild towards home ownership. Contact us today for a free strategy session. 480-241-9927

Short sale success rates are up in the valley

Wed, 25 Jan 2012 18:21:18 GMT

Banks are shifting their focus to closing short sales, and less on foreclosing. REO’s (Real Estate Owned), or foreclosed homes represented 27% of the sales in all mls areas in December down from 30% in November. Short sales represented 32% of the closings in Decembers and are 36% of the active listings.

Along with the increase of market share, short sales are closing 60.8% of the time compared to just under 50% at the beginning of the year. This is positive news since a short sale benefits all parties versus a foreclosure in almost all circumstances.

Please call us to find out about your home and if we can help. 480-241-9927.

West Valley continues to lead the state in foreclosures and short sales.

Tue, 24 Jan 2012 12:23:47 GMT

Out of 100 ZIP codes with the most foreclosures around the nation in 2011, 15 were in Arizona -- Phoenix, Laveen, Peoria, Chandler, Goodyear, Maricopa, Surprise, Glendale, Queen Creek, Tolleson and Mesa.

Our team has helped several west valley families successfully avoid foreclosure with short sales.

Call us today for a free consultation at 480-241-9927.

Arizona remains one of the hardest hit states for foreclosures and short sales

Mon, 23 Jan 2012 12:15:26 GMT

It comes as no surprise but Arizona is one of America’s hardest hit areas for foreclosures and short sales. Click to read the article at CNN Money.

Don’t walk from your home with a foreclosure, exit strategically with a short sale. It’s better on your credit, better for the bank, and better for your neighborhood.

We can help, call us at 480-241-9927.

Foreclosures dropped in 2011 in the Valley, expected to be higher in 2012

Sat, 21 Jan 2012 19:45:21 GMT

Foreclosures dropped from 41,625 in 2010 to 35,855 in 2011 in Arizona. What many forget is that legal scrutiny slowed the process for many lenders in 2011 due to Robo-signing. Realtytrac expects foreclosures in 2012 to be 25% higher than 2011.

A short sale is normally a much better alternative to a foreclosure and should be pursued as a first option. In some instances a foreclosure could be better than a short sale if the bank is not willing to release a deficiency or attach a promissory note. Don’t start with a foreclosure, save that as an option if a loan modification or a short sale is unsuccessful.

Please call if we can help. 480-241-9927

As home prices fall, more borrowers walk away

Mon, 09 Jan 2012 15:17:27 GMT

Economists at Goldman Sachs recently forecast that after bottoming in 2013 house prices won't recover their 2006 peak until 2023. (No, that's not a typo.) Feel like waiting that long to break even on your home? Most people don't and are walking away.

Think of it this way, if you knew your 401(k) would be worth $0 in 11 years after spending $1,200 a month on it, would you continue to fund it? Rather, if you could ditch your current 401(k) and start funding a new one at $0 and every dollar you put in it could start appreciating wouldn't you do that? Many are doing that with their homes, and we can help.

Call us today at 480-241-9927

Understanding a HAFA short sale

Fri, 18 Nov 2011 11:43:39 GMT

Save our home AZ - $268 million now available for Arizona homeowners for short sales

Fri, 07 Oct 2011 12:25:13 GMT

SAVE OUR HOME AZ

On February 19, 2010, the Obama administration announced plans to provide $1.5 billion dollars in federal funding for five states hardest hit by the nation's housing crisis. Since Arizona is one of the five states most affected by steep housing price declines, we were allocated $268 million dollars. The Save Our Home AZ program is administered by the Arizona Department of Housing (ADOH) on the behalf of the Arizona Home Foreclosure Prevention Funding Corporation (AHFPFC). Funds for the Program come from the US Department of Treasury, Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets (HFA Hardest-Hit-Funds).

As of September 2011 this program is now available. Watch the video below for more information. If you want to find out if you qualify, or what other programs you might qualify for please contact us at 480-241-9927.

Short Sale Analysis of the Greater Phoenix Area

Thu, 07 Apr 2011 17:38:43 GMT

As of April 7th 2011 there are 14,108 short sales for sale in the Greater Phoenix Area. That is down from the 16,360 from a year ago. The good news is that sales per month are at 1,875 up from 1,597 a year ago. They valley is closing more and has fewer listings, that has been much needed to help people avoid foreclosure.

This figure represents roughly a 7 and a half month supply of short sale homes, versus the 10 plus month supply we had a year ago and 17 month supply 2 years ago. The listing success rate for short sales is still low at 43.4% compared to 44.6% a year ago, but up from the 28.7% two years ago.

Prices have continued to decline down to a median price of $122,000 from $134,000 a year ago and $180,000 two years ago.

There are no signs of a slowdown in the valley for short sales as more than 50% of homeowners owe more than their home is worth.

Data compiled from the 2011 Cromford Association.

"Tonight the House of Representatives will vote on whether to terminate HAMP

Tue, 29 Mar 2011 16:25:40 GMT

Below is an article from the Wall Street Journal. Tonight we will find out if government loan modifications go away:

WASHINGTON (Dow Jones)--The Obama administration on Tuesday stepped up defense of its signature foreclosure prevention program as House Republicans neared a vote to end it.

"Tonight the House of Representatives will vote on whether to terminate HAMP, even though the program continues to provide much needed help to tens of thousands of new families each month," Tim Massad, the Treasury Department's acting assistant secretary for financial stability, said in remarks prepared for a speech at Harvard University.

"We strongly oppose these efforts," Massad added.

Republicans plan to vote on eliminating the Home Affordable Modification Program. They argue that the program is costly to taxpayers at a time when budget cuts are needed to get the U.S. economy back on track. Republicans also say the government has failed to prevent many foreclosures and has, in some cases, left homeowners worse off.

Launched nearly two years ago, HAMP has assisted about 600,000 homeowners, far short of initial expectations that it would aid up to 4 million. A congressional panel estimates it will eventually reach as many as 800,000 homeowners.

Massad countered complaints that the program hasn't helped as many as originally planned, saying it has had a dramatic and positive effect on the market and individual homeowners.

The administration also plans to more stringently enforce the program, he said.

"We will begin withholding financial incentives for servicers receiving an unsatisfactory grade," Massad said.

-By Jeffrey Sparshott; Dow Jones Newswires; 202-862-9291; jeffrey.sparshott@dowjones.com

http://online.wsj.com/article/BT-CO-20110329-710303.html

IRS Issues New Guidance on Forgiven Mortgage Debt

Fri, 18 Mar 2011 16:36:23 GMT

The US Internal Revenue Service has released a fresh guidance regarding how cancelled mortgage debts should be handled. This is in time for the upcoming tax season.The agency apparently realized the need to set things clear and straight especially because numerous homeowners have undergone foreclosure, short sales, or loan modifications during the onset of the recent financial crunch.

Click below for the rest of the story.

www.myloansconsolidated.com/2011/03/16/irs-issues-new-guidance-on-forgiven-mortgage-debt/

US House Ends Emergency Homeowner Loan Program

Mon, 14 Mar 2011 18:36:48 GMT

Loan modifications for those who are unemployed have been cancelled by the U.S. House in a 242-177 vote. This will of course lead to more foreclosures and short sales hitting the US housing market. To read the story please click the link below:

www.bloomberg.com/news/2011-03-11/u-s-house-votes-to-cancel-emergency-homeowner-loan-program.html

No luck getting a loan modification? Forced into a Short Sale? You're not alone.

Thu, 03 Mar 2011 14:36:24 GMT

According to the Congressional Research Service, the Treasury Department has only spent 3% of the funds set aside for the HAMP modification program. Congress is now calling to end the failed plan since it is ineffective and costly.

Many people our team meets with have tried for a loan modification only to be forced into a short sale when denied.

Read the article below, and please contact us if you have exhausted your attempts at a modification and would like to short sell your property and save your credit.

http://www.housingwire.com/2011/03/02/treasury-spends-3-of-hamp-funds-as-of-february

Freddie Mac Posts a $1.7B loss for Q4 - Home values to erode further

Thu, 24 Feb 2011 22:20:58 GMT

The mortgage giant Freddie Mac has posted another losing quarter. However it's a more narrow loss considering the companies staggering loss of $19.8 billion for all of 2010. When will this end? Freddie Mac has asked for an additional $500 million in federal aid which is up from the $100 million it asked for in the previous quarter. It's estimated that between Freddie Mac and it's sibling company Fannie Mae, the housing bailout will costs tax payers as much as $259 billion. The company suggests that the housing market is still fragile due to high unemployment, delinquencies and foreclosures and that 2011 will be a year of further decline in home values. For more on the article see the link below.

http://hosted.ap.org/dynamic/stories/U/US_EARNS_FREDDIE_MAC?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2011-02-24-16-27-33

U.S. Home supply still remains "bloated"...and discounted.

Thu, 24 Feb 2011 17:39:02 GMT

Check out this article:

http://www.bloomberg.com/news/2011-02-24/distressed-homes-sold-at-28-discount-last-year-with-bloated-u-s-supply.html

Foreclosures Rise; Repossessions Set Record

Thu, 16 Sep 2010 11:40:28 GMT

Foreclosures Rise; Repossessions Set Record

Published: Thursday, 16 Sep 2010 | 2:11 AM ET

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By: Joseph Pisani
CNBC News Associate

US foreclosure activity rose in August from the previous month, and banks and lenders took ownership from homeowners at a record pace, according to a new report released Thursday.

Fuse | Getty Images

Foreclosure fillings rose 4.18 percent in August from July.

Bank repossessions, often the final step in the foreclosure process after a home fails to sell at auction, increased about 3 percent from the month before to 95,364, a record high. At the same time the number of properties that received default notices—the first step in the foreclosure process—decreased 1 percent from a month ago and fell 30 percent from a year ago, a sign that lenders are focusing on their backlog of foreclosure inventory before tackling new distressed loans, according to foreclosure listing website RealtyTrac, which released the report.

Overall, foreclosure fillings rose 4.18 percent in August from the previous month, and were down 5.48 percent from a year ago. In all, 338,836 properties were in the foreclosure process. One in 381 U.S. households received a foreclosure notice in August. (Foreclosure notices are defined as a default notice, auction sale notice or bank repossession.)

“There is a buildup in delinquent loans that are not in foreclosure,” said Rick Sharga, senior vice president of RealtyTrac, adding that banks and lenders are slowing the process to avoid a drop in home prices. “It’s a managed slowdown more than anything else,” he said.

“The underlining conditions haven’t improved,” Sharga added, referring to high unemployment and falling home prices in certain markets.

The ten states with the highest foreclosure rates were little changed from the previous month, according to the RealtyTrac report. For the 44th straight month, Nevada had the highest foreclosure rate in the country with one in every 84 properties in the state getting a foreclosure notice. (Nevada also has the highest unemployment in the country.)

Florida ranked second with one in every 155 households receiving a notice, followed by Arizona (one in 165 households), California (one in 194 households) and Idaho (one in every 220 households.) (See the full list in our slideshow.)

Vermont had the lowest rate, with one in every 18,389 properties receiving a foreclosure notice.

The RealtyTrac report comes a day after the Mortgage Bankers Association reported that demand for home loans fell even though mortgage rates were at record lows. Also on Wednesday, real estate website Trulia.com reported that homeowners nationally slashed more than $29 billion from their asking prices in August, as they tried to lure buyers stalled by unemployment.

New Loan Delinquencies on the Rise Again

Tue, 06 Jul 2010 19:16:58 GMT

New Loan Delinquencies on the Rise Again

Published: Tuesday, 6 Jul 2010 | 2:58 PM ET

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By: Diana Olick
CNBC Real Estate Reporter

Just when you thought things might be turning around, the mortgage crisis takes yet another little dip to the downside.

Lender Processing Services just put out its May "Mortgage Monitor," and some promising trends aren't so promising anymore, specifically new delinquencies and cure rates.

While the total delinquency rate rose 2.3 percent, which is not surprising given how much is in the pipeline, the 30-day delinquent bucket jumped 10 percent. That is surprising because the that number had been coming down of late. The LPS data report says that's because the "seasonal improvement period has expired," but I'm not sure normal seasonal patterns really apply to this market anymore.

More likely is that home prices are not rebounding at the expected/hoped for pace, prompting more borrowers who are underwater on their loans to choose not to pay. And while the job market isn't bleeding so much anymore, it's not adding jobs back at the rate we need, nor is it re-instituting those full time jobs that were slashed to part-time, leaving many borrowers still "underemployed." So the delinquency rate nationwide now stands at 9.2 percent from this particular data set, and with the rise in new delinquencies, it won't be coming down any time soon.

910 AM XTRA Sports MoneyLine Show

Sun, 27 Jun 2010 00:19:26 GMT

www.facebook.com/album.php

See photos from our real estate show with Eric Lay on the Moneyline 910 am Xtra Sports Radio. You can hear the Z Team Saturday's from 11 am to 12 pm discussing real estate.

The Next Mortgage Meltdown

Thu, 14 Jan 2010 13:55:46 GMT

The Next Mortgage Meltdown

December 14, 2008 7:22 PM

Scott Pelley reports on the mortgage crisis that's far from over, with a second wave of expected defaults on the way that could deepen the bottom of the U.S. recession.

If you or someone you know is dealing with a mortgage that is becoming harder to pay or you owe more than your home is worth, please contact us. We may be able to help, and with loan modifications and short sales our services are always free to you.

Sincerely,

Steve and Dave Zajdzinski

RE/MAX Agents Help Avoid Foreclosure

Fri, 20 Nov 2009 11:58:14 GMT

If you or someone you know might be facing a financial hardship, please let us know. We are here to help.

Sincerely,

Steve and Dave Zajdzinski

The Z Team

RE/MAX Agents Know the NEW 2009-2010 Tax Credit

Fri, 20 Nov 2009 10:39:00 GMT

You may view properties that can qualify for the new tax credit below and contact The Z Team for help purchasing these properties.

Click Here For ZteamAZ.com

The Truth About Mortgage Modifications

Mon, 02 Nov 2009 08:23:41 GMT

The Truth About Mortgage Modifications

The decisions you make as a homeowner today hold a profound impact on your financial future. However, it is important to safeguard yourself from misinformation and fraud. Get the facts regarding your situation and always have a contingency plan.

For those who qualify, a mortgage modification is the ideal remedy to their financial distress. I’ve prepared a FREE report on the truth about mortgage modifications to guide you through this important process. Simply provide your information below to get this valuable information, and feel free to pass it along to anyone who may need it. One homeowner lost to foreclosure is one too many!

As a Certified Distressed Property Expert, I have training and experience in providing solutions to homeowners facing financial hardship. Together, we can formulate a plan to get back on track.

If you have any unanswered questions, or your circumstances are urgent, please call me today.

Dave and Steve Zajdzinski
480-285-3642

Make Financial Stability Your Resolution

Foreclosure Stress Never Goes on Holiday

If a foreclosure is threatening your happy holiday, you should know you're not alone. Millions of Americans are in the same situation, and it is our goal to help ease the stress that comes with the threat of foreclosure for as many as we can reach.

As CDPE-designated agents, we help struggling homeowners navigate the various options they have to avoid foreclosure. One possible option is a mortgage modification, which makes monthly payments more affordable.

For more information regarding this and other solutions, please download the free report located on this site.

If you need immediate assistance, please feel free to contact us throughout the holiday. We're here to help. Make financial stability your resolution for the New Year!

At the End of Your Rope?

Free report details 10 ways to alleviate the stress of an unaffordable mortgage payment.

Millions of homeowners across the nation are experiencing difficulties paying their mortgages. If you or someone you care about is feeling the stress of an unaffordable mortgage, please take the time to review the report found on this website.

As Certified Distressed Property Expert's (CDPE), We've been extensively trained to counsel and guide homeowners through their options. There are dignified solutions available to help people get back on path to financial stability. Our clients have found strength in the knowledge that they are able to take an active role in avoiding foreclosure.

They know that avoiding foreclosure is key in providing for a brighter future. Foreclosure can wreak havoc on credit and affect current and future employment status in addition to many other long-lasting side effects. In the report, we demonstrate just how harmful foreclosure is in comparison to an extremely effective alternative called a short sale.

We can help you or someone you care about create a strategy for living a life without the burden of missed payments. Call us today, and let's work together to put you back on the path of financial stability.

480-241-9927

Feeling Financially Squeezed

Feeling Financially Squeezed?

Escape the Grip of Forecloure

If you are struggling with the emotional stranglehold of foreclosure, I'm here to help. With my assistance, we can start the process of putting you back on the path to stability.

As a CDPE, I have extensive training to serve the needs of homeowners in circumstances where they feel they have no options. The reality is that you have many.

Because millions of Americans are struggling with unaffordable mortgage payments, lenders are more than ever encouraged to work with homeowners to find a solution that benefits all parties.

To find out more about foreclosure alternatives that are available to you, click and download the free report I've created on this website.

Call me today. The sooner we get started the more time we'll have to devise a strategy to help you breathe a little easier and restore hope for the future.

Arizona Short Sale Specialists

Home prices drop in November for third straight month

Short sale success rates are up in the valley

West Valley continues to lead the state in foreclosures and short sales.

Arizona remains one of the hardest hit states for foreclosures and short sales

Foreclosures dropped in 2011 in the Valley, expected to be higher in 2012

As home prices fall, more borrowers walk away

Understanding a HAFA short sale

Save our home AZ - $268 million now available for Arizona homeowners for short sales

Short Sale Analysis of the Greater Phoenix Area

"Tonight the House of Representatives will vote on whether to terminate HAMP

IRS Issues New Guidance on Forgiven Mortgage Debt

US House Ends Emergency Homeowner Loan Program

No luck getting a loan modification? Forced into a Short Sale? You're not alone.

Freddie Mac Posts a $1.7B loss for Q4 - Home values to erode further

U.S. Home supply still remains "bloated"...and discounted.

Foreclosures Rise; Repossessions Set Record

Foreclosures Rise; Repossessions Set Record

New Loan Delinquencies on the Rise Again

New Loan Delinquencies on the Rise Again

RELATED LINKS

910 AM XTRA Sports MoneyLine Show

The Next Mortgage Meltdown

RE/MAX Agents Help Avoid Foreclosure

RE/MAX Agents Know the NEW 2009-2010 Tax Credit

The Truth About Mortgage Modifications

The Truth About Mortgage Modifications

Make Financial Stability Your Resolution

Foreclosure Stress Never Goes on Holiday

At the End of Your Rope?

At the End of Your Rope?

Free report details 10 ways to alleviate the stress of an unaffordable mortgage payment.

480-241-9927

Feeling Financially Squeezed

Feeling Financially Squeezed?

Escape the Grip of Forecloure