I’ve put together a series of articles on the state of our market here in the Valley. I’ve included some resources that might help in knowing more about the recent phenomenon we’re all experiencing, and perhaps you in particular or friends or relatives.

I’ve been in real estate here for 33 years, and had my/our share of recessions. In the past we’ve come out of them in a year or two. But, there has never been the scope of this one, exacerbated by the collapse of financial institutions we trusted, schemes by individuals we trusted, and the subsequent job losses whose numbers have not occurred since the depression.

Our esteemed Bernanke has said the recession is likely over, but there are residual effects still to be worked though. The amount of short-sales (who ever heard of them in the past years), foreclosures (we’d have one or two here and there in the past years) and REOs (we did have them during the savings and loan debacle back in the late 80’s).

Hard to believe that almost 75% of the homes on the market and that have sold have been these types of sales. Yet, there has been in an increase in those selling over the last few months, and that’s a positive sign.

To sift through what they all mean and how they affect us, this Market Series addresses each of these new faces in the marketplace. Should you or a loved one do a short-sale? What are the ramifications? How will it affect credit ratings in the future? What’s the difference between them? What about loan modifications? Would that make a difference?

As you might expect, I have taken class after class, seminar after seminar over the last year and a half educating myself so that I can comfortably help my clients, friends and others through this unusual time. I’m here to help.

So, here we go… if there are any questions that arise after reading through them, something that’s maybe specific to your situation, < href="mailto:alice@amazingarizona.com">please let me know.

CLICK HERE FOR THE FIRST IN THE SERIES: Phoenix Real Estate Market Statistics September 09