Deena Harris & Sheryl Lage

Morrison Ranch in Gilbert ranked 23^rd in the nation and top selling Arizona community in 2011.

Morrison Ranch, located in Gilbert; a unique master planned community with character. Established as a family development in 1932, was one of the east valleys largest ranching businesses; running a dairy farm, having extensive cropland, grazing cattle and leasing land from Flagstaff to Verde River. When the decision to establish their company into a housing development in 1997, manager Howard Morrison didn’t interpret that in coming years his master planned community would be selling more units than any other in Arizona.

In 2011 Morrison Ranch sold 239 units, which is more sold than in 2010, but far from the number sold during the housing markets peak. Community features include 2,000-acres known for their large lots, miles of tree lined walkways and trails, minor vehicle traffic and innovative use of reclaimed water for irrigation. “People love living in Gilbert,” Howard Morrison claims. Credit is given to the Ranch’s location, which has valued schools and family-friendly neighborhoods. “The other significant factor is the look and feel of Morrison Ranch. We leave a generous amount of open space. We don’t cram the houses in.” These decisions have made Morrison Ranch ranked 23^rd in the nation and top selling Arizona community in 2011.

With 2,300 residences, the Ranch now has five neighborhoods, in which homebuilders such as Ashton Woods Homes, Blandford Homes and Richmond American Homes have showcased models. Morrison Ranch still has the anticipation to build another four neighborhoods, holding an estimated 1,500 additional single homes and a possible 400 multifamily residences. Along with homing developments Morrison has hopes for a Town center and Business center that could possibly provide up to 5,000 opening for jobs in the Gilbert area. The next development to open will be called Elliot Groves, which will be located at the southeastern corner of Recker and Elliot roads in Gilbert.

While still keeping the families historic past, Howard Morrison only has high hopes and expectations to exceed in coming years.

The BEST restaurant in Queen Creek!!!! The Queen Creek Olive Mill

My husband and I just had the opportunity to eat at what I now consider the BEST restaurant in Queen Creek! Not only was the food absolutely amazing, but the service was outstanding!!!! We felt like royalty by the wonderful staff. They let us sample the items in the Deli case that are made fresh daily and even try their different flavors of Gelato. I had the Eggs Benadict, and it was SOOOOO good! Not your average eggs benedict. I highly recommend it!

The Queen Creek Olive Mill is a family owned company that grows and presses their own olives to produce high quality extra virgin Olive Oil from their olive farm to your table. Their food has a Mediterranean influence and is all local with an organic influence. The food they offer exemplifies their dedication to the environment and the health of their customers, while supporting their local community.

The Olive Mill is located in Queen Creek at the base of the San Tan Mountains, an area known for its fertile soil. The crossroads are Rittenhouse/Riggs. This region is famous for its high quality fruits and vegetables. The Olive Mill is just minutes away from fresh fruit and vegetable picking at Schnepf farms. Make a day out of visiting Schnepf farms for fruit picking in their acres of "UPICK" orchards, then head to The Olive Mill for great food, refreshing gelato, and receive first class service with the whole family!

You can even take a tour to learn about the olive mills, farming, and production of olive oil. They will also teach you how to use their products and inform you of the their numerous benefits. We left with a bag full of different items from their Gourmet Marketplace like Olive Oil, Stuffed Olives, and Fudge.

The address is 25062 S. Meridian Rd. Queen Creek, AZ 85142. Visit their website at www.queencreekolivemill.com

Can I buy a home after a short sale?

The answer is...Yes, You can buy a home after a short sale!!!!!

For more information on how to buy a home after a short sale in Arizona, contact Deena Harris.

It's not a surprise that difficult economic times have led to a lot people losing their homes. Many people purchased their homes during "the boom" and have since experienced a loss of income and the only way out was to short sale your home. Short Selling your home is a great alternative to foreclosure, and also the responsible thing to do. Now there is another "perk" to selling your home short, and that is the ability to purchase again WITHOUT waiting for 2 years! That's right, I said it...You CAN purchase a home after you short sale!!!

Yes, you can finance after a short sale with a USDA Home Loan. How you ask? See the USDA Short Sale Matrix below for more information on how you can buy a home after a short sale in Arizona.

Short Sale with Late Payments:

• Must wait for a minimum of 12 months from the last late payment
• Short Sale Hardship Letter
• GUS (Automated Underwriting) Approval

Short Sale with No Late Payments:

• Must wait until the short sale appears on your credit report and can finance immediately thereafter (1-2 months after the short sale)
• Short Sale Hardship Letter
• GUS (Automated Underwriting) Approval

For more information on how to buy a home after a short sale in Arizona, contact Deena Harris or Sheryl Lage.

A double dip? Not the signs of the market in Arizona.

According to an article that CNN Money put out a couple days ago, "Home prices continue on their downward spiral with no relief in sight," said David Blitzer, spokesman for Standard and Poor's.

I don't necessarily agree with this article. Inventory is LOW and Pending sales are HIGH. This is going to be the driving force to raise prices, and everyone that is waiting for the news to tell them when to buy, is going to miss their opportunity for great prices and low interest rates.

Supply and Demand is the key factor to consider. In Arizona right now. It has been our experience with buyers in the last few months that almost EVERY home that a buyer wants, has multiple offers within the first week on the market. The last 10 offers I have written for buyers has been a competion against multiple offers and we are forced to go thousands of dollars over asking price to win! This is a sure sign that buyers are in the market to snatch up the affordable housing and low interest rates...and this competition is only going to drive the prices UP. (I have a different opinion about appraisers and their evaluations creating more hurt than good to this natural recovery...but that is for another blog.)

I do agree with AZCentral.com that stated that "the Phoenix-area housing market is still stuck in the mud, but at least it's no longer sinking in quicksand."

The report listed the Valley among the worst-performing areas in terms of median home-price change during the period from March 2010 to March 2011. The median sale price on an existing home in metro Phoenix decreased 8.4 percent, second only to Minneapolis, which had a 10 percent decline, the report said.

However, the Phoenix area was one of the best performers with regard to the most recent month-over-month price change measured by the Case-Shiller study, from February to March. The Valley's median home-resale price decreased 0.5 percent during that one-month period, making it the fifth-best metro area in terms of price retention.

The Phoenix area's recent performance boost in home-value retention reflects that prices have essentially stabilized since January, local analysts said, following an artificial price increase and subsequent decline caused by the introduction and expiration of an $8,000 federal income-tax rebate for first-time homebuyers.

Aside from the tax rebate's temporary effects, the Phoenix area's median home price has been stable, albeit low, for quite some time, said analyst Tom Ruff, founder and principal of the Information Market, based in Glendale.

Meanwile, some national housing analysts, reacting to Tuesday's report by CNN, predicted home prices nationally will decline by an additional 5 percent by the end of the year.

Another factor to consider is that for the past few months, newly issued NOT's (Notice of Foreclosure) have DECREASED significantly in the area, bringing the number of "active" notices down from 40,000 in January to 27,000 in April.

Bank owned/Lender owned homes generally sell at a discount and with this decrease in foreclosure notice, there are likely to be fewer bank owned homes on the market in coming months. This is also a sign that the median home prices, will increase.

Arizona is on a faster track to recovery than some of the other states, and this is not necessary considered when looking at National Real Estate news.

In order for us to have population growth in Arizona, which is a driving force for our real estate market, is employment. In Arizona we still face serious employment challenges...but we are headed in the right direction and as agents in Arizona we are optimistic that 2012 is the year for Real Estate recovery.

A double dip? Not the signs of the market in Arizona