We have had four straight months of Record Short Sale closings in Arizona, 62% of all Pending sales are now distressed and the days on market have gone from 157 days, to 130for short sale closings.
Our Lender partners, Wells Fargo, Bank of America and GMAC have all improved dramatically on their Short Sale process, communication and making quicker decisions. We are going through some transition, with all Lenders no longer postponing as many trustee Sales and in turn sending the extended pipeline properties to foreclosure to get them pushed through.
There is ONE more big thing, that needs to happen to really help all of us to push through the Distressed Property challenge that faces Arizona, we need to engage our very BEST Real Estate Practitioner’s, the very best REALTORS in the state, in the process. I can tell you as someone who closes over 1500 transactions a month in our state, it is clear the Lenders that have used our assistance to put the best REALTORS in our state into both their Short Sale and REO programs, have clearly had more closings, with less hassles and in the end the Consumer and the Lender is the big winner!!!!
The key to getting a better result, for the Consumer, the Bank and in turn our Real Estate Market is getting the right Realtor, our stats show this fact clearly, feel free to reach out to me, if you want access into our Distressed Property Division, which highlights our very best Realtor Partners.
Steve de Laveaga
Senior Vice President of Sales and Marketing
Fidelity Natioanl Title Maricopa County
steve.delaveaga@fnf.com
480-214-4500
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