31. March 2009 by Teri Ellis.

Many buyers that ARE in the market to purchase a home have an unreasonable expectation of what homes cost. They hear all about the “deals” out there for $50,000 $60,000 and up, and are looking at those prices. And they want a four bedroom, pool, three car garage, etc. I’m even hearing such things as “that home is way overpriced!” Really? How does the buyer know that – unless he/she hears that from a friend, or watches the news, or reads the newspaper. How about “asking” the Realtor?

EVEN if the property is overpriced, it won’t appraise! Typically, those low ball prices indicate a beginning price, or the property has major issues. Even up to $100,000 is a questionable number when purchasing a nice home – even in Arizona.

Many are walking away from the short sales. One warning for all of those buyers considering of a short sale, and thinking what a great deal they will get. Yes, SOME may work, but the majority do NOT.

For one example: What if you make an offer on a short sale, and the seller, as most do, has a second on the property? What if the second lender won’t acquiesce on the money owed to them? Then what? I’ll tell you what!! For months you wait – the first finally agrees on a dollar amount -  but the second won’t budge.

The deal falls through. Simple as that. Never mind that the second loses its entire dollar amount owed if the home is foreclosed upon. I was showing a home on Saturday, spoke with the listing agent, and after months of waiting, this exact scenario happened, and the buyers walked.

Consider purchasing from a seller with whom you can negotiate, and who will make those repairs, and provide you with the disclosures and insurance information that is important. On Saturday, last, I showed several homes – one of which was listed by a seller! It was comparable in size and in price – and in STELLAR condition.

Yes, this is a great time to buy a home, but do so wisely. Work with an experienced and knowledgeable Realtor who can advise and counsel you through the process.

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26. March 2009 by Teri Ellis.

Well, here we are again, celebrating Earth Day and learn how we can help keep Phoenix beautiful at a lunchtime celebration from 11 a.m. to 1:30 p.m., Wednesday, April 22, at Cesar Chavez Plaza, Jefferson Street and Second Avenue – downtown Phoenix.

This event is sponsored by “Keep Phoenix Beautiful” and will include booths and other activities where we can learn about recycling and sustainability and pick up useful giveaways.

For more info: check out: Keep Phoenix Beautiful. See you there!!!

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25. March 2009 by Teri Ellis.

Sometimes I feel as if my buyers and/or sellers do not “hear” me. Okay, most of the time I feel that way! They hire me to do a job, but - after speaking with their friends, with neighbors, with, who knows? they suddenly are experts at “my” job. 

In today’s market – now, especially – sellers and buyers MUST pay attention to the advice and counsel offered by their Realtors. The Realtor, after all, is the one that has the education, the knowledge of the market, and the wherewith all to give that counsel and advice. “They” are the expert – generally not the home buyer nor the home seller.

I know that all of us encounter this type of issue, and these days, it is especially important for buyers and sellers to counsel with their Realtor. Realtors don’t typically have a crystal ball, and cannot tell you if the market has topped out or bottomed out, but we can see what the market in your area is doing,  and we know that short sales and bank owned pretty much rule the MLS in most parts of our country.

One suggestion to sellers: if your agent suggests a listing price, staging strategies – and you really want to sell your home – then seriously consider his/her suggestion. Otherwise, as the market goes down, your value goes down, and you’ll have a hard time catching up. The appraisals of your home are based on the sales of the REO’s and the short sales - AND you will have missed those potential buyers.

A suggestion to buyers: if you want to purchase a bank owned (REO) or a short-sale – BE PREPARED!!! You will more than likely be waiting for weeks, even months, for the close of escrow. There are myriad things that hang up these types of purchases. Gone, at least for the moment, are the days of: I make an offer, it gets accepted or rejected in four hours, and within a day or two, we now have opened escrow. Then, we actually close escrow and move into our new home within 30 days of the offer.

That said, from what I’m seeing, and remember “I” am the Realtor, our inventory is dropping at a rapid pace. That could be because lenders have been holding back from foreclosures, but when will you find a better interest rate? When will you be able to purchase homes for 70, 80, 100, thousand dollars again? Homes ARE selling, and people ARE buying.

AND investors and cash buyers have jumped into the frey….that should definitely be an indication, perhaps, that now is  a good time to be considering a purchase of your first home!

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23. March 2009 by Teri Ellis.

Since our Arizona summers can reach into the teens, we rely heavily on our air conditioners to keep us cool. I think back on when I was a child – way back – and remember only having an evaporative cooler. Even tin sheds now have air conditioning.

Each year, SRP offers its customers a deal for $59.95 per unit to have them checked by a licensed, bonded and insured contractor performing a 16-point checkup on our cooling equipment. 

Good idea to perform this service before summer arrives. Otherwise, you might be spending the night at a hotel or a friend’s home when/if your a/c goes out. It can take a few days for a repairman to make it out to your home during the summer – and you do know? Stuff always happens on the weekend.

Call the SRP Certified Contractor Program at: 602.274-6808 and arrange to take advantage of this great offer. This offer valid until April 30.

Also, be sure to stop by and check out the website: www.srpnet.com/powerwise for more details.

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21. March 2009 by Teri Ellis.

SINCE I FIRST POSTED THIS, THIS EVENT HAS BEEN CANCELLED!!! Watch for next year, where, since 1966, SRP provides a great mower recycling service for existing customers. This year, collections are scheduled between 4 and 7 p.m. on May 1 and 8, and between 8:30 a.m. and noon on May 2 and 9 at the SRP PERA Club, 1 East Continental Drive, Tempe.

NEXT YEAR: Trade in your gas or old electric mowers and receive rebates toward the purchase of new electric models. In addition, $ rebates are available for trading in other gas-powered lawn equipment such as a hedge trimmer or leaf blower.

This recycling program continues to bring down pollution in our valley. In 2008, more than 1,300 customers traded in their gas-powered mowers eliminating 32 tons of pollution from the Valley’s air. According to the calculations by SRP and Maricopa County, this would be equivalent to reducing 55,886 miles of driving per week.

For more info: www.srpnet.com/mowing

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19. March 2009 by Teri Ellis.

I like numbers. I keep track of numbers – especially when it comes to our MLS.

As of today, March 19, 2009, between 1:50-2:00 p.m., there were the following Active and Pending Listings in the cities listed below.

In January of this year, our inventory of active listings across the board (including Single Family, townhomes, condos, mobile homes, etc.) was in the high 58,000’s reaching toward 60,000. TODAY, we have 48,837 active listings! That number changes every few minutes as contracts go pending.  As of the time mentioned above, we had 10,869 pending or under contract.

For ease of understanding, per each city, for SINGLE FAMILY only, I have listed below the Active and the Pending as of today in the city and/or the zip code designated:

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17. March 2009 by Teri Ellis.

Today, we are celebrating St. Patrick’s Day. Everyone is wishing each other a “Happy St. Patrick’s Day, or St. Paddy’s Day.” I was interested in doing some research on this “green day” on March 17. Some things that I learned:

1.  Irish Stew. I selected a link to a video about how to make this tantalizing feast with lots of information too.

2.  History of St. Patrick’s Day: Another link to a video. Corned beef was introduced in the United States – before that, it was bacon and potatoes.

3.  Color of Green: Originally was blue – not green. The history behind that is in this video.

4.  St. Patrick was from Britain – not Ireland. Here is another link to a video with the reasons of how this happened.

5.  St. Patrick’s parade began in New York: It is the oldest longest St. Patrick’s parade anywhere and began before The Revolution. Here’s a video with very cool information.

Have a wonderful St. Patrick’s Day!!!!  Now you know how it started and more.

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16. March 2009 by Teri Ellis.

A new voting concept! Wow, that sounds like a great idea. Although we typically mail in our ballots, I do like some of the ideas proposed giving voters more days and more voting sites to cast their votes.

Some of those Benefits would include:

1 - Voters could cast ballots at any voting center convenient to their home, work or activities.

2 - The voting centers would be open for several days, such as the Saturday and Monday before a Tuesday election - thereby allowing more opportunities for voters to participate.

3 - The total number of facilities and workers needed would be reduced, freeing up the best facilities and using the most knowledgeable and skilled workers.

4 - This plan would reduce the number of polling places from 128 - and election costs by an estimated $250,000 addressing the fact that an overwhelming number of Phoenix residents vote early by mail. In the City’s last election in May, 96% of votes cast were by mail. Since 2001, city elections have received 80 percent of all ballots cast via mail.

For more information on the proposal and community meeting dates, times and locations, visit: Phoenix.gov.

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14. March 2009 by Teri Ellis.

The City of Phoenix offers many services that are useful and necessary for its growth and its stability. Recently, Phoenix announced that it is  implementing the Neighborhood Stabilization Program (NSP) which addresses abandoned and foreclosed houses within the areas of greatest need. Expected to become available from the U.S. Department of Housing and Urban Development in Spring, 2009, NSP funds will be used in a variety of ways, including down  payment or closing cost assistance for homebuyers to purchase foreclosed houses for use as their own residence.

Homeownership presents new challenges and new opportunities in this economic climate, but many families have positioned themselves to be successful in this environment.

These homeowners have been careful with their credit, have stable work, they have savings accounts, and they view homeownership as a long-term wealth-building strategy for their family. These potential homebuyers are well positioned to take advantage of the numerous housing choices currently available, and NSP funds may be able to assist.

Neighborhood partners you … or someone you know… may qualify for $15,000 in down payment and closing cost assistance to help buy an affordable foreclosed home anywhere in the City of Phoenix through the City’s Neighborhood Stabilization program (NSP) Home Buyer Assistance Program.

For more on what the City of Phoenix offers, be sure to check out the City’s link here. The City offers a plethora of services available to those who seek it out.

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12. March 2009 by Teri Ellis.

Many cities are struggling and having to trim off millions of dollars from their budgets - all due the slowdown in the economy. In addition, as we all know, they are also forced to reduce and eliminate services and programs and lay off personnel.

Making your purchases in your city will help in many ways: sales tax helps pay for city services such as police, fire protection, parks, libraries, senior centers, neighborhood preservation and street maintenance. When we shop in other cities, or via the internet, the taxes support the budgets of those communities.

Phoenix has many notable shopping opportunities , including destinations with distinctive settings and stores recognized for their iconic brands. Some are unique to Phoenix.

For a list of major Phoenix shopping venues, visit Shop Phoenix.

If you’re shopping in Mesa, or in Gilbert, or in Chandler, there are wonderful choices at these cities as well. Since I reside in Mesa, 99% of my shopping stays local!

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