{"id":2489,"date":"2008-01-12T07:41:55","date_gmt":"2008-01-12T14:41:55","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=2489"},"modified":"2008-01-12T07:42:19","modified_gmt":"2008-01-12T14:42:19","slug":"seller-financing-can-give-you-an-edge-over-your-competition-in-the-phoenix-real-estate-market","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2489\/seller-financing-can-give-you-an-edge-over-your-competition-in-the-phoenix-real-estate-market\/","title":{"rendered":"Seller financing can give you an edge over your competition in the Phoenix real estate market"},"content":{"rendered":"

This is my column for this week from the Arizona Republic<\/i> (permanent link<\/a>):<\/p>\n

 
Seller financing can give you an edge over your competition in the Phoenix real estate market<\/b><\/p>\n

If you have significant equity in your home, you have a potent weapon at your disposal on resale.<\/p>\n

The big news this year is likely to be more and more stories of people with little or no equity trying to get their homes sold. Values for an average suburban Phoenix home were down 14.66% year-over-year. That doesn’t sound too bad, but prices were down almost six percent just in December. We’re down 24% from the peak in December of 2005, on average.<\/p>\n

But here’s the silver lining: If you bought that average home in December of 2003, and if you resisted the impulse to refinance your loan, you’re still up over 40% from your purchase price.<\/p>\n

That equity gives you a source of leverage on resale that you might not have considered.<\/p>\n

First, as always, for your home to sell it must be priced right, prepared right and presented right to the marketplace. You can’t do any kind of elaborate negotiations if buyers don’t even see your house.<\/p>\n

But because you have equity in the home, you have the ability to help a willing buyer navigate the suddenly-more-perilous shoals of the lending process.<\/p>\n

Suppose your buyer has five percent for a down payment, but the lender is willing to make a much more attractive deal for ten percent down. If the lender is willing to accept the arrangement, you can offer to carry back a note for the extra five percent, using part of your equity as seller financing.<\/p>\n

You’ll be taking a second or third position in the line of creditors, should the buyer default — and it’s always possible that you will lose every cent you are lending. But given the direction of the market, you could be a lot better off risking five percent now, rather than accepting ten percent less a few months from now.<\/p>\n

As with everything, read the fine print, ideally in the company of your accountant. But seller financing is one more weapon you can Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This is my column for this week from the Arizona Republic (permanent link):  Seller financing can give you an edge over your competition in the Phoenix real estate market If you have significant equity in your home, you have a potent weapon at your disposal on resale. The big news this year is likely to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,6,5],"tags":[],"class_list":{"0":"post-2489","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-marketing","8":"category-real-estate","10":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":948,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/948\/recent-refinancing-can-make-selling-a-house-costly\/","url_meta":{"origin":2489,"position":0},"title":"Recent refinancing can make selling a house costly","author":"Greg Swann","date":"January 26, 2007","format":false,"excerpt":"This is me in this morning's Arizona Republic (permanent link). \u00a0Recent refinancing can make selling a house costly A buyer e-mailed me a question about a house she might be interested in. At first glance, it looked promising: A newer west-side home in good condition. The price wasn't awful, maybe\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6180,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/6180\/workable-real-estate-deals-may-require-even-more-creativity\/","url_meta":{"origin":2489,"position":1},"title":"Workable real estate deals may require even more creativity","author":"Greg Swann","date":"December 20, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). \u00a0Workable real estate deals may require even more creativity I do a lot of work with buy-and-hold rental home investors, more and more of whom are able to come into Phoenix with all-cash offers. Poor me, I\u2026","rel":"","context":"In "Investment"","block_context":{"text":"Investment","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/investment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2618,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2618\/down-payment-assistance-is-another-creative-financing-option-you-can-deploy-to-make-sure-yours-is-the-home-that-sells\/","url_meta":{"origin":2489,"position":2},"title":"Down Payment Assistance is another creative financing option you can deploy to make sure yours is the home that sells","author":"Greg Swann","date":"February 19, 2008","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link): \u00a0Down Payment Assistance is another creative financing option you can deploy to make sure yours is the home that sells It's a hard world for home sellers right now. It's possible that things are slowly getting better,\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7211,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7211\/the-federal-governments-housing-casino-will-never-play-fair-as-long-as-there-are-votes-to-be-bought-by-cheating\/","url_meta":{"origin":2489,"position":3},"title":"The federal government’s housing casino will never play fair as long as there are votes to be bought by cheating","author":"Greg Swann","date":"February 28, 2009","format":false,"excerpt":"This is my column for this week from the Arizona Republic (permanent link). Since I wrote this on Tuesday, events have overtaken some details, but it remains that few if any borrowers in the Phoenix area will be able to renegotiate or modify their loans under the Obama plan. Everyone\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2155,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2155\/how-low-can-they-go-negotiating-a-real-estate-bargain\/","url_meta":{"origin":2489,"position":4},"title":"How low can they go? Negotiating a real estate bargain","author":"Greg Swann","date":"November 3, 2007","format":false,"excerpt":"This is my column this week from the Arizona Republic (permanent link): \u00a0How low can they go? Negotiating a real estate bargain Everybody wants a bargain. The question for homebuyers is, how do you get one? I was in a property last weekend with a buyer. The home was listed\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/120\/the-seller-paid-my-closing-costs-with-my-money\/","url_meta":{"origin":2489,"position":5},"title":"“The seller paid my closing costs — with my money!”","author":"Greg Swann","date":"July 22, 2006","format":false,"excerpt":"Not all of the calls I get in response to my Republic columns are irksome. I like the calls I get from real people, rather than Realtors or brokers. Very few of them are viable, in-the-market, potential clients, but that's not why I write the column. On the other hand,\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=2489"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/2489\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=2489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=2489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=2489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}