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Beth Larsen, RE/MAX Sedona-Serving Sedona AZ and the Verde Valley 928-300-6986 
Beth Larsen RE/MAX Sedona
2290 W. SR 89A
Safeway Plaza
Sedona, AZ 86336
Cell: 928-300-6986
Fax: 877-282-3808
Toll-Free: 800-282-4166 x 252
Work Phone: 928-282-4166 x 252
Email Beth

Understanding Short Sales & Foreclosures in the Sedona-Verde Valley Market

It's no secret that Short Sales and Foreclosures are a huge market factor nationwide, and for once, Sedona and the Verde Valley are no exception. The impact of these distress sales is significant for both Buyers and Sellers, and a satisfactory experience with either type of transaction requires special expertise and patience.

The first step is education, and understanding where the pitfalls lie. Having an experienced professional on your side can make all of the difference in successfully navigating a Short Sale or Foreclosure.

The following videos will give you a brief introduction to some foreclosure alternatives you may wish
to consider. There is a wealth of information on the web, but you'll want to obtain professional
advice in order to determine the best course of action for your own circumstances.


It is essential to understand that "Real Estate is Local": Arizona has anti-deficiency statues that
*may* apply to protect you from liability for the deficiency amount in a Foreclosure or Short Sale of
an Arizona Property, providing it meets certain requirements. IT IS VERY IMPORTANT TO CONSULT
There can be significant tax and/or legal implications to any mortgage
workout solution, including Loan Modifications, Deed-In-Lieu of Foreclosure, Foreclosure and
Short Sales. What is best for someone else might not be best for your particular circumstances.
If you need help finding legal or tax professionals who can help you review your options,
please contact Beth Larsen.



Guide to Avoiding Foreclosure from HUD

Freddie Mac "Foreclosure Scam 101" video


For information about HAMP, the Home Affordable Modification Program guidelines for loan modifications, please visit Freddie Mac's website.

Government-required MARS Disclosure:

IMPORTANT NOTICE: RE/MAX Sedona is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. RE/MAX Sedona will never recommend that you stop paying your mortgage. If should choose to do so, you should know that if you stop paying your mortgage, you could lose your home and damage your credit rating.

Online Reports: Short Sales & Foreclosures

These free reports are offered to enhance your understanding of Short Sales and Foreclosures in the current market in Sedona and the Verde Valley, and to assist in your buying and selling experience. Knowing what to expect is the first step in a successful outcome.

Realtors® Help Buyers, Sellers Navigate Short Sale Transactions 5-15-09
Learn how Realtors® add value to the real estate transaction and can help home buyers and sellers solve problems and effectively negotiate short sale transactions.
Making Home Affordable NAR Press Release 5-14-09
An overview from the National Association of Realtors of the new initiaive, just released on May 14, 2009. A key point is the streamlining of the Short Sale process, to help more struggling homeowners to protect their financial future.
NAR Government Affairs Short Sale Update 5-14-09
An outline of the announced incentives and uniform procedures for short sales under the Obama Administration's new Foreclosure Alternatives Program (FAP).
Making Home Affordable Progress Report 5-14-09
Not all lenders are on board, however fourteen servicers, including the five largest, have now signed contracts and begun modifications under MHA. Between loans covered by these servicers and loans owned or securitized by Fannie Mae or Freddie Mac, more than 75 percent of all loans in the country are now covered by the program. Features of the program include provisions for Loan Modifications and Refinancing in addition to streamlining the process for Short Sales and Deed-in-Lieu of Foreclosure, which offer a better outcome for most distressed Sellers than a Foreclosure.
Navigating Short Sales-What to Do When the Sale Price Leaves You Short - 2009
An overview of the options open to homeowners who are "upside-down" on their mortgages.
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