Here we go again…more statistics supporting the idea that most homeowners need a short sale realtor and a short sale solution fast.  Foreclosures are increasing, once again, and the amount of homeowners that owe more than their house is worth is quickly climbing, to the tune of 23% of all homeowners, just in the 4th quarter alone.

This is an increase from the previous quarter.  If these statistics aren’t the leading indicators to a continued trend of dipping home values, who knows when we’ll see a shift.

Another staggering statistic:  “The total amount of negative equity increased to $751 billion nationwide.”  With all the talk that the real estate market is shifting back to an increase in home values, statistics point to the fact that “prices are expected to continue falling in many markets due to still-high levels of foreclosure and unemployment.”  If you own real estate in Phoenix metro or real estate in Scottsdale, you have probably been effected heavily by this slide.

Finding a Short Sale Realtor who knows what they are doing is crucial for your long term strategic plan.  There is liability when handling a short sale, but if you have someone at your fingertips who can put you in touch with some of the best real estate attorneys in the valley like we can, you’ll be in great shape for your plan moving forward.

http://www.azcentral.com/business/realestate/articles/2011/03/08/20110308Underwater-mortgages-rise-as-home-prices-fall.html