**Mesa, Arizona Real Estate** Teri Ellis, Broker, CRS, ABR, GRI, ePRO

I have always been a proponent of purchasing a home rather than renting one; however, it seems that more and more people are contacting me to find them a rental home. They want to “rent” a home rather than to buy! Just this past week, I showed two separate clients a rental.

I am also receiving calls from those that have purchased a home through me – and are now foreclosing or considering short sales.

Almost without exception, these homebuyers who purchased a home through me have refinanced or acquired a second loan on their home purchased six or seven years ago. Due to our market, they are upside down and cannot sell their home. As a result, they need to “rent.”

There are, of course, other reasons, but being upside down due to refinancing seems to be at the top of the list.

Many former homeowners are now needing “or” wanting to rent a home. Because of their inability to pay the loan on their home thereby short selling or foreclosing, investors are flooding the market picking up homes at prices not seen in years. Typically an investor makes needed “fixes” and “repairs,” and then puts the most recent purchase on the market as a rental. Therefore, purchasing property as a rental has become increasingly more affordable.

So? If you were to ask me if it’s a good idea to purchase a home NOW, I would resoundingly say YES! Whether for investment purposes or to live in – I’ve never seen a better market to purchase. Just be very careful when thinking of a short sale – or a bank owned. Become educated on what that is about.

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

Many buyers that ARE in the market to purchase a home in the Phoenix and Mesa, Arizona market 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 a news' report, or reads the newspapers all about what is really going on. How about “asking” your Realtor?

EVEN if - as many are concerned about, the property is overpriced, it likely will not 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 – including 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.

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

Well, here we are again, celebrating Earth Day helping us learn and remember 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!!!

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

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 Phoenix, Arizona 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. He or she is looking out for you!!!! 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 ask yourself: 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 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

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.

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