New Resource for Avoiding Foreclosure in Phoenix

June 10, 2011 By Leave a Comment

Keith & Cheryl Krone of The Krone Team at Keller Williams Realty Professional Partners launches website and marketing plan specific to homeowners facing foreclosure hardship in the Phoenix, Arizona  real estate market.

 

Phoenix, AZ — Keith & Cheryl Krone of The Krone Team at Keller Williams Realty Professional Partners, a Phoenix real estate specialist, has developed a marketing strategy and website that is focused on assisting distressed homeowners find information and investigate options to avoid the foreclosure process. As an expert in short sales, a real estate transaction option that banks will consider instead of foreclosure with specific guidelines, Krone is determined to provide essential knowledge to homeowners in Phoenix facing this unfortunate circumstance.

Visitors to AvoidingForeclosureInPhoenix.com will find information regarding the process of foreclosure, what effects foreclosure has on a homeowner, and ways to prevent the foreclosure process from continuing. The website features easy-to-understand informational tools such as a list of frequently asked questions, a glossary of terms and free reports as well as resources that allow the homeowner to get their questions addressed in a confidential manner. In addition, the website offers the homeowner information regarding short sales, often a viable solution to foreclosure that can save a distressed homeowner from the damaging effects foreclosure has on their credit.

“I feel that it is important in today’s economic conditions for homeowners to know that they have options other than the foreclosure route,” says Krone. “Statistics show that 50% of homeowners facing this stressful situation often ignore the issue and that doesn’t have to be. There are options such as a short sale, especially if the homeowner works with an experienced REALTOR® to provide them assistance in showing the lender the hardship situation and other real estate documentation.”

Krone and The Krone Team at Keller Williams Realty Professional Partners new website provides visitors with a description of how the short sale process works, how it compares to a foreclosure, and how a homeowner may be able to qualify for a short sale. As a Certified Distressed Property Expert (CDPE), Krone has taken the initiative to become an educated and prepared advocate on the behalf of a homeowner in distress. Earned by completing detailed and thorough coursework via the Distressed Property Institute, real estate agents with the CDPE designation are armed with the necessary tools and information to help distressed property owners avoid foreclosure and continue their lives.

For more information about foreclosures and short sales in Phoenix, please feel free to visit the website at AvoidingForeclosureInPhoenix.com, or to contact Krone directly at (623) 337-8277 ext. 201 or by emailing Info@AvoidingForeclosureInPhoenix.com.

Filed Under: Short Sale Information for the West Valley of Phoenix, AZ Real Estate Tagged With: , ,

The Best in West Valley Real Estate

March 29, 2011 By Leave a Comment

The Krone Team is a group of dynamic real estate agents who tends to their clients’ needs with a sense of urgency and competency that gets the job done. Not only does the Krone Team make sure that the initial visions of our clients are fulfilled, our strong follow-up ensures that no transaction will be left with loose ends. The Krone team loves to work with first-time homebuyers because they enjoy sharing the excitement that goes into finding the house that will be the home in which they will build their lives. Perhaps you are looking to purchase a second home or relocating to the valley; the Krone Team is here to show some of the best values in the West Valley as we know the market and inventory. The Krone Team has an intimate understanding of the many neighborhoods in the west valley and with this understanding, can serve to guide our clients. If you are looking to purchase a home in the west valley, entrust your dreams of home ownership with one of the Krone Team’s Buyer Specialists.

Filed Under: Local Perspective Tagged With: , ,

Does a Short Sale affect my credit differently than Foreclosure?

February 4, 2011 By Leave a Comment

Are you considering a Short Sale in the Avondale, Goodyear or Litchfield Park area but unsure how it will affect your credit? A short sale may be considered to be a derogatory mark on your credit even though credit bureaus do not show the word “short sale” on your credit report. It may say “paid in full for less than agreed” or similar category.   Some clients have reported negative FICO score drops from 50 points to 130 pointswhile the drop is 200 to 400 points after a foreclosure! Generally this credit score will remain on your credit report as a public record for 7 to 10 years.

All lenders report short sales differently and some do not report them to the credit bureaus at all. However a Foreclosure stays on your credit report for 7-10 years. If a prospective employer runs a credit check on you, your job application may be denied if you have a foreclosure on your record. In this job market, it’s an important factor to consider.

Another thing to consider, Loan applications do not ask questions about a short sale. You may report that you sold your home. However with Foreclosure, you are required to answer the question: “Have you ever had a property foreclosed upon or given a deed-in-lieu thereof in the past 7 years.” If the bank sees you have had a foreclosure, your loan most likely will be denied. If you lie, you may be subject to investigation by the FBI for fraud.

With so much to weigh out, it’s important to speak to a Realtor that is a Short Sale Specialist and can answer your questions, identify your options and assist you in being proactive.  Keith and Cheryl Krone have been Realtors since 1983; and for the last 3 years have specialized in Short Sales in Avondale, Buckeye, Goodyear and Litchfield Park. To schedule an appointment to discuss your unique situation, contact Cheryl at(602) 708-2073 or Cheryl@kroneteam.com. 

Filed Under: Short Sale Information for the West Valley of Phoenix, AZ Real Estate Tagged With: , , , , , , ,

Happy New Year

December 28, 2010 By Leave a Comment

Twenty years from now you will be more disappointed by the things that you didn’t do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover. ~Mark Twain

What does this mean for Real Estate?  It means it is time for a fresh start – time to be Proactive! The economy is beginning to show signs of life again and it’s time to revive our own household economics.

If you are under water with your head buried in the sand, it’s time to take a look around, assess the damage, and move on toward being financially healthy again. If that means you need to Short Sale your home in the Litchfield Park, Goodyear or Avondale communities, contact Cheryl at (602) 708-2073 or cheryl@kroneteam.com .

Waiting on the fence to Buy? Time to hop off and get in the game! Interest rates are still great, and home prices are incredibly affordable. If you want to find out more contact Peggy at (602) 320-4167 or Mike at (623) 824-6274, they are your Avondale, Goodyear and Litchfield Park Buyer Specialists!

Filed Under: Buyers Tips for Phoenix AZ Real Estate, Sellers Tips for the West Valley of Phoenix, AZ Real Estate Tagged With: , , , , ,

NOW IS THE TIME TO BUY IN THE WEST VALLEY

December 6, 2010 By Leave a Comment

Have you seen the latest numbers? The latest market report has just been released & I wanted to blog some of the highlights. These graphs provide a great visual representation of what’s happening TODAY in our market.

  • The month of November showed a 2.17% increase in the number of closed sales over the prior month.  This is comparable to the month of September of this year, but it remains the 2nd lowest number since February of this year.  For buyers, this means you may have a little more competition for the homes that are currently on the market.  We saw interest rates increase in late November, so buyers need to pay careful attention to the long-term cost of waiting vs. finding a home in today’s market.
  • Over the past 6 months, pending sales have remained fairly consistent.  November saw a 7.9% increase in the number of homes that moved to pending status, meaning they are under contract, but have not yet closed.  Buyers need to pay careful attention to projected market trends.  Experts are projecting that interest rates will begin to rise again as early as May 2011…late November already has shown an increase.
  • After an increase in the average sales price in October, November saw a 3.06% decrease to $165,108.  This is the LOWEST average sales price in the 36 month reporting period.  For buyers, this means the average buyer paid less for a home in November than at any time in the past 36 months.  This is an indicator that great value is still in the market…and that buyers are actively purchasing these homes.  THIS COULD BE THE VERY BEST TIME FOR YOU TO BUY.

If you would like to see the report, give me a call and I’ll get it over to you right away.

The Krone Team is always looking for ways we can bring added value to our clients.

Filed Under: Buyers Tips for Phoenix AZ Real Estate Tagged With: , , , ,

The Krone Team has the following great Short Sale deals already approved!!

November 16, 2010 By Leave a Comment

Please take a look below and see if you or any of your friends or family may be looking for anything along these lines and we can get them moving forward on this today.  Please call Michael Ewen at (623)824-6274 for further assistance or for our upcoming preapproved specials.

 

3320 N LAKESHORE CT Avondale, AZ 85392    $150,000

Garden Lakes with a Pool!!!

Beds/Baths: 4 / 3  SF: 2,677 Year Built: 1993 Pool: Private Level: Two Levels

 

12533 W CAMBRIDGE AVE Avondale, AZ 85392   $133,000

Rancho Sante Fe With a Pool!!!!

Beds/Baths: 4 / 3  SF: 2,038 Year Built: 1996 Pool: Private

 

13439 N 15TH DR Phoenix, AZ 85023    $85,000

Beds/Baths: 3 / 2  SF: 1,586 Year Built: 1972  Level: Single Level

 

3826 W CHARTER OAK RD Phoenix, AZ 85029   $58,000

Beds/Baths: 3 / 2 SF: 1,040 Year Built: 1971 Level: Single Level

Filed Under: Buyers Tips for Phoenix AZ Real Estate Tagged With: , , , ,

Everyone is talking about Short Sales!

November 3, 2010 By Leave a Comment

Why?

Most homeowners are upside down in their mortgage and want to get out but can’t sell their home to cover what they owe on their mortgage(s). Other life situations happen frequently such as job loss, divorce, medical bills, or an interest rate adjusts. And just like that, the homeowner starts missing payments.

What do we do?

Everyone’s first desire is to try a Loan Modification.  Unfortunately, loan modifications have become quite the sham according to the local Department of Real Estate. Many companies claiming to be loan modification specialists have been shut down.  Even worse, the multitude of homeowners who paid those companies thousands of dollars upfront to help them couldn’t get their money back.

What about a Loan Modification from my Lender?

Many lenders don’t want to grant Loan Modifications because statistics show, of the Loan Modifications that actually were granted when the economy first began to decline, the homeowner ended up back in default within 6 months, and the bank ended up foreclosing anyway.

Is there anything we can do?

Most people turn to the Short Sale to have their lender approve the sale of their property for less than what they owe, and before the bank forecloses. It is crucial to hire an Experienced Realtor who has mastered the Short Sale process knowing how to work with the lenders and getting approval.

In 2009, the Short Sale process could take 6 months or more. Currently, the Short Sale process can take less than 6 months with experienced Realtors and lenders negotiating and closing in 2 months. Even though this is a huge improvement, it is still not a slam dunk.  Just like with a Loan Modification, you will need to provide a lot of documentation and why the mortgage payment can no longer be paid.  However, unlike the Loan Modification process, the Short Sale process can create the positive outcome you are looking for. Also important to know, the lender pays the selling commission.

There is hope!

Most importantly, do not wait for a “Notice of Sale” to be posted on your door. Also, it’s important to remember that the Short Sale process is a complex transaction and requires a Realtor that specializes in Short Sales.  So, in this situation, your best friend’s uncle’s cousin that works part time in Real Estate is not who you want for this type of transaction. It’s important to speak to a Realtor that is a Short Sale Specialist and can answer your questions, identify your options and assist you in being proactive.  Keith and Cheryl Krone have been Realtors since 1983; and for the last 3 years have specialized inShort Sales. The time to contact us is before you have missed a payment, but if you already have, call Cheryl Krone to schedule an appointment to discuss your unique situation at (602) 708-2073 or Cheryl@kroneteam.com. 

Filed Under: Sellers Tips for the West Valley of Phoenix, AZ Real Estate Tagged With: , ,