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Patrick Schutte
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Certified Foreclosure Specialist

Patrick Schutte's Blog

Prescott Arizona area foreclosure market report as of 4-18-09

Posted on April 21, 2009 at 9:15am 1 Comment

Fifteen new foreclosed or short sale homes came on the market, about one in every six homes being listed in the Prescott Arizona Area MLS system, and one quarter of the closings were distressed sales in Prescott, Prescott Valley, Chino Valley, Dewey-Humboldt and the outlying areas of Yavapai County. This shows a marked decrease from last week’s numbers.

The difference between what newly listed traditional homes and Prescott foreclosed/REO and short sale properties per square foot… Continue

Top 10 tips to win the REO multiple offer game

Posted on April 9, 2009 at 2:00pm 2 Comments

The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price.

When banks price REOs under the market price, multiple offers are often the response. This means buyers can be up against stiff competition for that bank-owned home.

It’s not unusual for some bargain-priced REO homes in the Prescott area to receive 3 or 5 offers. Sometimes the bank will throw out all but two offers and… Continue

Why short sales aren’t always a good deal

Posted on April 9, 2009 at 1:58pm 0 Comments

I have many clients who call me looking for deals on short sales and foreclosed homes in the Prescott Arizona area market including Precott Valley, Chino Valley and Dewey-Humboldt. Many think that short sales are better deals than foreclosures, but his is rarely the case.

What the difference?

The short sale process has many moving parts that must be aligned in order for the sale to close. First of all, the lenders have to agree to a short sale, but sometimes banks won’t… Continue

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At 1:12pm on April 13, 2009, Jesus (Jesse) Gonzalez said…
Hi Patrick:

I wasn't able to find your REOPro Badge, would you tell me where it is, thanks.

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