Distressed Properties

Without a doubt, the last few years have been extremely trying for the Arizona homeowner. Following the burst of the real estate bubble, property prices have plummeted, and currently one in seven homes in the nation are either in foreclosure or at least one payment past due.

Despite this grim state of affairs, it is SWLP's Distressed Property Division's goal to minimize financial loss to sellers by providing astute professional guidance and well-informed business advice. The Distressed Property Division consists of six Certified Distressed Property Experts (CDPEs), realtors with a thorough knowledge of the real estate slump, and a practical approach to foreclosure alternatives. These experts provide a wealth of information and guidance to homeownersfacing the complex decisions of short sales, loan modifications, deed-in-lieus, refinancing, or in some cases, foreclosures. We are proud of our commitment to our clients' needs and our network of attorneys specializing in real estate and the current challenging market. At all times, it is the CDPE's goal to negotiate the advantages and pitfalls of the distressed property market and to minimize damage to the client's credit and overall financial standing. In this case, expertise pays off: the national average closing rate for short sales is 25%, but jumps to 80-85% for a realtor with CDPE designation.

In difficult times, it is important to have the best guidance available. This is where Sandra Wilken Luxury Properties provides, as always, its unparalleled mixture of professionalism, expertise, and above-and-beyond service.

Quick Facts

• A homeowner who successfully negotiates and closes a short sale will be eligible for a Fannie Mae backed mortgage in 2 years. If you foreclose, it's 5 years.
• On its own, a short sale does not challenge most security clearances. For a police officer, military, FBI, CIA, security position, executive-level employee, the security clearance will probably be revoked.
• A short sale is not reported on a credit report and therefore is not a challenge to future employment. A foreclosure, in most, cases will challenge job applicants when applying for employment.  
• Our CDPE closing rate for short sales is 80-85%