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Jerry Germansen

Real Estate Report of 2011 and Forecast for 2012

by on January 12, 2012 in Buyers, Featured Blogs, Foreclosures, Market Reports, Sellers Comments { 0 }

Statistics just released by the ARMLS system (Phoenix Valley MLS system) shows encouraging trends from 2011 and into 2012. The supply of existing homes on the market is at the second lowest level in 11 years.  New listings have dropped by 30,000 units from 2010 The median price is lower than 2010. The number of [...] Read more

Jennie Shook

Bank Owned Home in Prescott Open House

by on November 24, 2011 in Featured Properties, Foreclosures, General, Prescott Comments { 0 }

This beautiful 4625 sq. foot home sits on 7 acres of prime property in Prescott’s Williamson Valley area. Currently Listed at $400,000 dollars. It will be going to auction on 12/2/2011. The last open house before the auction will be 11/26 from 11:00 to 4:00. Come check out this beautiful home with a view. The [...] Read more

Jerry Germansen

Strategic Default of a Loan

by on February 4, 2011 in Buyers, Foreclosures Comments { 0 }

Buyer Default of a Purchase Contract’s Seller Carryback Financing When a buyer has purchased property using financing, the lender has the buyer sign a Deed of Trust and Promissory Note to secure the property and guarantee the note payments. This is true of most financing arrangements including seller carryback financing. With the decline of the [...] Read more

Jennie Shook

Prescott Alternatives to Foreclosures

by on October 10, 2010 in Foreclosures, General, Sellers Comments { 0 }

What are options for Prescott and the quad city area (Dewey, Prescott Valley, Chino Valley and Mayer) homeowners to help stop a foreclosure from happening to thier home? The answer is unique to each individual. Loan Modifications may be available if you qualify. You should speak to your mortgage company to see what they have [...] Read more

Buying Bank-Owned Homes 928-632-1608

by on December 15, 2009 in Featured Blogs, Foreclosures Comments { 0 }

The purchase of a bank-owned home is unlike purchasing a home from a typical homeowner. Here is why: Once a property has been foreclosed or returned to the bank it becomes an REO (Real Estate Owned) asset of the bank. Those assets are assigned to an Asset Manager who is probably located in another state [...] Read more

Short Sale and Loan Mod Expert Advice

by on October 8, 2009 in Foreclosures Comments { 0 }

Loan Modifications and Short Sales are not something to be handled by ameteurs. Get expert advice. Financial decisions as large and important as your mortgage loan can have long reaching effects on you. Don’t get cought by a clause that comes back to bite you. Don’t let an untrained or unlicenssed person represent your most [...] Read more

Getting the Deal on Foreclosures

by on September 16, 2009 in Buyers, Foreclosures, General Comments { 0 }

Some foreclosed listing agents are offering properties at well below the market value. They are baiting the property and successfully gathering offers. Under a traditional real estate sale the buyer gives the seller a time to repsond to the offer. In foreclosures the banks list them subject to their own time frame and response time. [...] Read more

What does 22% assistance for buying foreclosures do to the rest of us?

by on September 10, 2009 in Foreclosures Comments { 0 }

The banks are being given an unfair advantage. The loan program with 22% down payment assistance is for BANK OWNED properties only. See my last post. If you are a Seller and not a bank, you just had the wind taken out of your sails. You are competing with banks who reduce the price of [...] Read more

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