What Does Foreclosure Really Mean?

What Does Foreclosure Really Mean?

Foreclosure. What does it mean exactly? According to Google dictionary, foreclosure is: The process of taking possession of a mortgaged property as a result of the mortgagor’s failure to keep up mortgage payments. Well stated. Foreclosure is a process, something...

Phoenix Housing Sub-Markets and Terms of Sale

Prior to the real estate market crash in 2008, determining the after-repair value of a home was much easier. That’s because a majority of homes on the retail market were what housing experts call normal sales. In other words, these houses were not in foreclosure or...

Closed: Phoenix REO After 1-Day on the Market

Last week, I posted a video about an REO in Ahwatukee my Realtor, Bill Watson, found on the Arizona Regional Multiple Listing Service. Purchased December 20th, 2011, it went on the market January 17th.  I wasn’t in much of a rush to get the rehab done in my normal...

Phoenix REO Deal Falls Through the Cracks

Ahwatukee.  This little section of Phoenix actually has its own Wikipedia page.  Nestled up against the South Mountain range, Ahwatukee is popular with families, white-collar types and professional athletes.  Larry Fitzgerald, star receiver for the Arizona Cardinals,...