TUCSON, Ariz., Feb. 14, 2012 – Integra Group Real Estate LLC, a brokerage firm specializing in the marketing and sale of REO, HUD and distressed properties in Southern Arizona, has officially introduced its short sale department to assist homeowners with the resale of homes nearing foreclosure.
With more than five years of experience handling short sales, Integra has successfully integrated a short sale module into the Integra Process allowing the company to formally open a department to address the high foreclosure rates in Arizona. The department is led by Ofelia Lichtenheld, designated broker for Integra, and provides the specialized expertise and skill sets that are needed in order to more successfully process a short sale transaction.
“The short sale department enables homeowners to sell the property with the appropriate valuation in the shortest time and avoid the ramifications of having a foreclosure on their credit history,” said Eric Lichtenheld, president of Integra Group.
The downfall of the market led to more than half of Arizona homeowners now having negative equity. In Pima County, with the second highest foreclosure rate in the state, there is currently a 11.9 percent vacancy rate compared to a normal rate which falls between one and two percent.
“Due to the extreme number of foreclosures, the current vacant housing stock will accommodate 10 years of population growth in the area,” Lichtenheld continued. “With the launch of our short sale department, we are dedicated to providing homeowners selling alternatives, decreasing the number of foreclosed homes and helping stabilize the neighborhoods in Southern Arizona by maintaining asset values.”
Integra also specializes in helping the Hispanic market segment, which was hit particularly hard during the economic crisis. Nationally, Hispanic homeowners were 2.3 times more impacted by subprime loans than non-Hispanics. With Integra Group’s extensive bilingual support and expertise, homeowners in all economic and demographic classes can seek short sale alternatives.
About Integra Group Real Estate
Founded in 2005, Tucson, Ariz.-based Integra Group Real Estate LLC is a brokerage firm specializing in the management, preservation and marketing of REO, HUD and distressed properties in Southern Arizona. Through its proprietary Integra Process, the broker provides strategic property evaluation, counseling, preservation and property marketing assistance to four of the top 10 U.S. mortgage lenders. For more information, visit www.IntegraTucson.com.