Mesa, Arizona Real Estate - Teri Ellis - Homes Arizona Real Estate

Recently, one of the local newspapers ran an article on the risks associated with short sales. Many agents are not familiar with the drawbacks of short sales and thus, do not explain them to nor do they properly prepare their sellers. Though Arizona is an anti-deficiency state - meaning that if a loses his/her home through foreclosure, the lender cannot collect the remaining dollars that the seller contracted to pay. Some of the lenders also honor that system with the short sales; HOWEVER, not all of them do.

"I knew that there is a great deal of confusion said Michelle Lind, general counsel for the Arizona Association of Realtors. She said that real-estate lawyers differ on which situations are subject to the anti-deficiency statutes but that, depending on the kind of loan and the terms of the contract, the seller can be liable. "The law is unclear," she said, "and there are many variables that factor in."

It appears as though the second mortgages or home equity appear to be the biggest culprits. Often, the seller is required to agree to pay certain amounts in order for the lender to approve the short sale in the form of promissory notes.

If you, as a seller, wish to short sell your home, be certain to consult with an attorney and a CPA. I have included the entire article which contains great information for anyone considering a short sale:
READ MORE!

Those of us who are social butterflies – and you know who you are – may have the key to avoiding dementia!  (This is according to a study following more than 2200 women ages 78 and older for four years - by Kaiser Permanete).

The study further indicates that the more “socially” engaged you are, the lower your risk for dementia. I suspect this includes men as well as women, though the study only included women.

Also key, the women in this study, with at least one daily contact or more had a lower risk for dementia, and it didn’t matter whether the  interaction was made face-to-face, via telephone, or through email.

So, what has being a "social butterfly" have to do with real estate?  Are we not a social group of people? Can we stay away from socializing on Active Rain or our other blogs? No? That’s what I thought.

So, my thought for today is: Be a Social Butterfly – It’s a “good” thing to be outgoing, social and friendly. You will be a more successful person in life and in real estate!

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, ServingMesaArizona, MoveToMesaAz.com or MoveToSunnyAz.com. Or stop by my blogs at: MesaAzRealEstateVoice; or Phoenix Valley Real Estate Blog

Each year, I am asked the question about the advisability of listing a home during the holidays! My answer is always a resounding 'YES'. During this period of time, we have many coming to Phoenix and Mesa to visit their loved ones or to get warm-er for the holidays. Many decide they love the climate and surroundings, decide to go and visit open houses, and/or preview homes, and decide to either purchase a winter home or a permanent home.

Another good reason to list a home during the holidays is: many sellers and their agents feel that they'd like to be free of the hassel of showing their homes during the holidays, thus less competition.

Typically in the middle of January, our Phoenix Valley and Mesa, Arizona listing numbers jump up!! Why not get a head start?

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: MesaAzRealEstateVoice; or Phoenix Valley Real Estate Blog

Recently, the home that I've listed - shown below - has sold. BUT it sold in a really novel way - at least for me. The home is beautiful. Well maintained, lots of upgrades, about 1800 square feet, vaulted ceilings, three car garage and a fenced in pool. To see and view this listing, just click on the link above.

A couple of months ago, my seller had someone come through her home, ooing and awwing over the decor, over the wood floors, and loving it, staying for about an hour. (Now that's a real clue, isn't it?) The buyer just happened to jokingly comment to my seller, "maybe you could buy my home and I'll buy your's" or words to that effect. Well, they just chuckled, and I found out from the other agent that her client had not yet listed her home, but once she did and sold it, she'd more than likely come back to buy my seller's home if still available.

One night - a few weeks later - while I was leisurely enjoying our little "get away" in the mountains, I received a call from my seller. "I was thinking about the comment that lady made about 'trading' homes. I wonder if I'd like her home."  I jumped on the MLS, found the other seller's home and emailed it to my seller. Okay, she liked the pictures, and it WAS kinda like her home, and she and her husband would like to see it. You see, my seller wanted a larger home, and the other seller wanted a smaller home.

Both homes had a pool, both homes had a three-car garage, both located in a desirable area, and both homes maintained and upgraded nicely.

I called the other agent, and told her what was up. She called her lady, and as soon as I returned from the mountain, I took my sellers/buyers to see this home. The "minute" they walked in, they loved it. The other agent took her buyer/seller to my people's home again, and we struck the deal. The other agent and I have wonderful clients, who are very cooperative, and it is working beautifully. We will close in another ten days or so.

So? could this be a tool that we could use for our sellers? Market to those interested in downsizing or upsizing their home? Granted, this won't work always - but could it be an option? Absolutely! It worked this time - so who knows? Both sellers - happy! Both buyers - very happy! ;-)

Meanwhile, I have a few homes listed. One that wants to move to Raleigh, North Carolina. Anyone from North Carolina want to purchase a 4300 square foot home - in Gilbert? Maybe we could arrange a "switch." :-)

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.

I've been noticing a "small" trend lately. Sellers in Mesa, Queen Creek, Gilbert, Chandler and Gold Canyon, Arizona are "beginning" to price their homes more realistically, do some staging or "showcasing" their homes allowing buyers to "mentally" move into their new home. Want to sell your home in 10, 20 or 30 days? Your chances are much greater - depending on location - if Sellers listen to their Realtors.

There are still some sellers holding onto their inflated price and their colored walls which keeps it "their" home. I strongly advise my sellers to get their home in tip top condition before putting their home on the market.

We are still in a Buyer's Market, and buyers have many choices. The more choices they have, the more selective Buyers can be. A good Realtor knows that relatively small investments in staging can reap BIG dollars for the seller at closing. A recent survey found that staging could increase the sales price by nearly $3000. Cleaning and decluttering could add a couple thousand more to the final price.

Typically a well staged home will sell for more as well as quicker. Sellers must try to mentally move themselves out of the home in order to get it ready for its new owner. After all, isn't that what the Seller wants to do? Move out?

Bottom Line, and I know this has been said time and again: Sellers

1.  Stage your home.
2.  Prepare it in every way including outside
3.  Declutter
4.  Repaint (neutral and fresh). Painting is one of the least expensive techniques but it produces some of the best results.
5.  Make those minor repairs and fixes that have needed to be done for years
6.  Clean, clean, clean including flooring, walls, and every nook and cranny.
7.  If you're a smoker, then get rid of the smell

After all? The entire idea of listing your home as a seller is to sell it to someone who loves it and buys it and makes it their own home.

A good professional stager can charge $500-$1000 and up, depending. The stager will also use your items such as napkins, placemats, fresh flowers.

Today, (August 1) we have 54,244 active listings.