Arizona's MLS Offers A Way To Speed Up the Short Sale Process!

I love this! ARMLS, Arizona Multiple Listing Service, is always coming up with new ideas. The latest is a way to work with the banks and short sales by having an approval process entitled: "Fannie Mae Pre-Approved" Short Sale. Hopefully this will eliminate or at least modify some of the ridiculous hoops and mazes we, as a Realtor, are faced with when we either choose to represent the Seller, or to help a Buyer purchase a Short Sale. This is a tough time for Sellers who are faced with a Short Sale, and the less stress for them, the better.

I've included a view of the proposal to enable everyone to understand the new Pilot Program. I, for one, am all for it. AND HERE is the link for the Frequently Asked Questions!

ARMLS Pilot Program

 

 

 

 

 

 

 

 

 

 

Pepper

Mesa, Arizona Real Estate. Call me at: 480.216-3334 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit one of my websites: HomesAzRE.com, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: Active Rain; or Phoenix Valley Real Estate Blog

 


Google Teri Ellis

 


Mesa, Arizona Real Estate. Call me at: 480.382-8711 for information on purchasing or selling a home in Mesa, Arizona or surrounding towns. OR email me: Teri@TeriEllis.com. Feel free to visit my website: HomesAzRE.com, or stop by my blogs at: MesaAzRealEstateVoice and AzLadyInRed!



Comments

SOunds to good to be true .  I am curious to know how it works out for you. :-)  It is something the rest of the country could model after , if it were successful.

Posted by Alisa Johnson (Allison James Estates & Homes) about 9 years ago

It sounds like a great idea in theory.  Keep us posted to see if it can actually be pulled off. 

Posted by Melina Tomson, Principal Broker/Owner, M.S. (Tomson Burnham, llc Licensed in the State of Oregon) about 9 years ago

Alisa, this is what our MLS does....hopefully it works. BUT at least they're doing SOMETHING!!

Melina, I'll keep you posted....;-)

PepperWreath

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) about 9 years ago

teh whole short sale process can be so convoluted.  I know sometimes out here that agents put a ridiculous price on the MLS just to get offers, and you know the bank will never accept the price. That program sounds like a great solution.  I will be interested in hearing how it goes.  Please keep us informed!

Posted by Carol Lee, Realtor - Agoura, Oak Park, Westlake CA Homes (Dilbeck Real Estate) about 9 years ago

I am going to forward this to my MLS.  Although we do not have the huge amount of shortsales like you are dealing with in AZ, We have our share.  Good to know that MLS listens to the members. Thanks

Posted by Ella Glover (Lubbock Homes) about 9 years ago

This is almost exactly what our MLS is doing (Mid-Florida).  We got the official email yesterday.  They are doing the pilot for 90 days or so for Countrywide pre-foreclosure short sales.  We'll see what happens.  The trouble is--they have already selected the few properties that will participate and we cannot add any more to the pilot.  :( 

Posted by Lisa Spalding, REALTOR, CDPE (Casa Latino Four Corners, REALTOR, CDPE) about 9 years ago

Carol Lee, I will check back to let everyone know how it's going. We need to clear out some of the short sale inventory. ;-)

Ella, any way they can help us is HUGE! ;-)

Lisa, oooooh hope this isn't the case here. Maybe the MLS's are in touch? ;-)

PepperWreath

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) about 9 years ago

Hi Terry - Am I missing something? How do you go about making this happen?

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) about 9 years ago

Hi Bill, I've enclosed a link of three pages for your information. That might answer your query. ;-)

 

PepperWreath

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) about 9 years ago

You know, I remember reading about this pilot just before Christmas and with all the hustle and bustle, just not thinking about it.  Thanks for the reminder. I'll look into this since my husband and I are listing a short sale right now.

Cheron Lange

Posted by Michael and Cheron Lange, Associate Broker, GRI (Solutions Real Estate) about 9 years ago

Hi Cheron, you're very welcome. It's a bit narrow in terms of only working with one lender, but CW is one of the top lenders around here it seems...;-)

PepperWreath

Posted by Mesa, Arizona Real Estate Mesa Arizona Realtor, AzLadyInRed (Homes Arizona Real Estate LLC) about 9 years ago

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