Troy and Mia's Blog - Chandler and East Valley Experts

Asking for your support - Let's go viral!

Sat, 02 Oct 2010 03:31:10 -0700

Fellow Active Rainers, I normally don't do things like this, but I am honored enough to feel that this is a big deal, so I am contacting you for some selfish self promotion. I have been nominated for the “Best Realtor – Chandler” by the Arizona Foothills Magazine. The winner is determined based on the number of votes they receive between October 1^st and November 30^th. Each person, that means you, can vote for me once per day through November 30th. Please consider sharing this with all your friends/family, re-blog and tweet away for those of you who know what that is. You don’t have to be an Arizona resident to vote, you can vote from anywhere.

As my wife says, she wants this to go Viral!!! My family is very excited, and they are also asking for your support. My wife also says, this would be the best paycheck (zero dollars but good exposure) for a year’s worth of hard effort in marketing myself as a Realtor here in the East Valley area. It's not often that someone like me gets nominated for something, so I feel like this is really special, and it would be fantastic to win.

All you have to do is follow this link "Best of our Valley" to vote!! I thank you all in advance for your support!

Troy Erickson

Terra Solis Realty, L.L.C.

Chandler 3 bedroom home for sale, almost 2,000 square feet!

Mon, 09 Aug 2010 19:02:23 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | (602) 295-6807

4057 E. Karsten Drive, Chandler, AZ

Chandler 3 bedroom - lots of home for the price!

3BR/2+1BA Single Family House

offered at $145,000

Year Built	2007
Sq Footage	1,906
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	4,500 sqft
HOA/Maint	$44 per month

DESCRIPTION

Right across the street from a park! Great opportunity for you! Relocation forces short sale. Great floorplan! Price is right too! The kitchen cabinets are dark in color - with an island. Soft water system in the garage. Back yard features covered patio, and desert landscaping for easy maintenance, plus area for patio set! Master bedroom is upstairs, good size - laundry is also upstairs. There is also a loft area upstairs, perfect for a homework center, or work station. Please go check this one out! Dbl check Jr high - Payne is shown on the boundary map but won't allow me to list Payne.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Walk-in closet	- Tile floor
- Family room	- Bonus/Rec room	- Breakfast nook
- Dishwasher	- Stove/Oven	- Microwave
- Laundry area - inside

ADDITIONAL PHOTOS

Front	Kitchen
Family Room	Master Bedroom
Master Bath	Back Yard

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

(602) 295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 9, 2010, 2:10pm PDT

Queen Creek 3bd home for sale - 33458 N Roadrunner Lane

Mon, 09 Aug 2010 18:18:49 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

33458 N Roadrunner Lane, Queen Creek, AZ

Move-in ready Queen Creek 3 bedroom home for sale

3BR/2BA Single Family House

offered at $100,000

Year Built	2005
Sq Footage	1,746
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	7,405 sqft
HOA/Maint	$85 per month

DESCRIPTION

Fantastic 3 bed + den and 2 bath house for sale. House sits on an extra large lot, large enough for a pool. Interior of house has new wood floors in all of the common areas, large kitchen with kitchen island opens to great room and in kitchen dining area. Den is also right off the great room/family room. Highly sought after floorplan, your clients won't be disappointed - this home has been well cared for. Front and Backyard is all desert landscaping. 2 car garage is extended both in length and on the side. This is a short sale, requires third party approval.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 9, 2010, 1:28pm PDT

Looking for a way to buy a new home without having to sell your current home first?

Thu, 15 Jul 2010 23:43:08 -0700

Looking for a way to buy a new home without having to sell your current home first?

The sales price on homes in many areas is not projected to increase for at least another year or more. Renting instead of selling can be a good option, as oftentimes you can rent for more than your mortgage payment, which will cover additional repair costs and a higher insurance rate. The change in rents since 2005 have increased on average 11%, while the change in home prices since 2005 have decreased on average 30% according to a recent article in Money Magazine. It may also take you less than a month to find a tenant, where it may take 6 months or more to find a buyer.

Here is a good way to screen for applicants. First of all, you can go to ezlandlordforms.com and find a rental application. When qualifying applicants, you should look for applicants whose income is at least 3 times the rental payment. Ask for a copy of their pay stubs to make sure. The length of time with their current employer should be at least 6 months, preferably a year. Don't be afraid to call the employer to validate their work history. Ask for the social security number of all applicants. You can run a credit check on the applicants through either e-renter.com or youcheckcredit.com for about $25. Find out the previous living conditions of each applicant, and call any former landlords to find out if there were any problems. Hopefully these recommendations will help if you choose to rent your current home.

If you are wanting to move from your currrent home, another option to consider may be renting it instead of selling.

I would recommend you check with your tax accountant or an attorney, as renting your home will have tax implications.

Chandler Arizona named All-American City

Tue, 22 Jun 2010 21:01:48 -0700

Chandler Arizona named All-American City. Chandler was named one of the nation's 10 All-American Cities by the National Civic League on Friday in Kansas City, Mo. Chandler was the only nominee in Arizona this year, and had been a previous finalist back in 1988 and 1992. What put Chandler over the top this year was the promotion of an underage drinking task force, a health clinic for indigent students, and the Chandler Heights Community Facilities that includes an environmental-education center and water-recharge ponds.

Mayor Boyd Dunn says, "This puts the stamp of approval on what we're doing... This will bring pride to our city." There were 26 finalists across the nation that went to Kansas City and spent three days showcasing their hometown projects. The winners had to demonstrate innovation, inclusiveness, civic engagement, and cross-sector collaboration by describing successful efforts to address pressing local challenges according to the National Civic League Website.

Other cities in Arizona who have earned the title of All-American City this decade are Tempe (2003), Sedona (2005), Flowing Wells (2007), Goodyear (2008), and Phoenix (2009). The City of Chandler title of All-American City should help Chandler with grants and attract more employers.

Way to go Chandler!

Watch live streaming video from freespeechtv at livestream.com

Tenants rights in a foreclosure

Tue, 15 Jun 2010 15:05:22 -0700

Tenants rights in a Foreclosure

First of all, I must preface this by saying I am not an attorney, and I would always recommend that someone consult with a legal and/or tax advisorbefore making any decision. With that said, I recently read an article where a couple had rented a condo, and their lease did not expire until June 30th. The tenants received a notice in the mail from the bank that the condo they were renting was being auctioned off within the next 90 days. When they contacted the landlord, he said that he had stopped making payments for the condo to the bank months ago. I know of several homeowners who are no longer making their mortgage payments, yet are still collecting rent on their home from a tenant. So the questions arose: about the responsibility of the tenants to continue making their rental payment until the condo is auctioned, whether they will be able to stay in the condo until the lease expires, and will they get their security deposit back?

Christopher Combs, a real estate attorney with Combs Law Group PC, responded to this question. He said that under federal law that took effect in May 2009, a tenant is generally entitled to stay in the rented premises until the term of the lease expires, even after a foreclosure sale. The lender, or buyer of the foreclosure property has no obligation to refund the security deposit when the lease expires, so Mr. Combs suggests that you negotiate with the landlord for the return of the security deposit in exchange for continuing to make the rental payments. Mr. Combs also said that by "your landlord not making the mortgage payments for several months," it is probably an "anticipatory breach" of your lease. "Therefore you may not have an obligation to continue making rent payments to the landlord." However, before the foreclosure sale, the bank does have the right to have a receiver appointed by the court in order to collect the rents. If that does happen, you would have to make the rental payments to the bank's receiver and not your landlord.

I don't know about the rest of the country, but this is becoming more and more common here in Arizona.

Hopefully this is beneficial information to tenants currently renting from a homeowner who may end up in foreclosure.

Lovely Chandler 3 bedroom home for sale

Mon, 14 Jun 2010 21:38:54 -0700

Lovely Chandler 3 bedroom home for sale - Not an REO or Short Sale!

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

942 E Morelos St, Chandler, AZ

Lovely 3 bedroom Chandler Home for Sale

3BR/2BA Single Family House

offered at $165,000

Year Built	1995
Sq Footage	1,314
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	5,088 sqft
HOA/Maint	$36 per month

DESCRIPTION

Not a REO or Short sale, can close in 30 days! This quaint 3 bedroom, 2 bathroom home is located in the heart of Chandler. It's close to wonderful schools, shopping and the 202. This home also includes all newly purchased appliances.

see additional photos below

ADDITIONAL PHOTOS

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Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: May 24, 2010, 12:57pm PDT

CONNECT WITH ME :

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Contact Troy and Mia Erickson, Realtors®, Terra Solis Realty, LLC. Licensed Residential Realtors® in Arizona at 602-295-6807 for Chandler, Gilbert, and Queen Creek Arizona custom, unique, and luxury Real Estate.

You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Other great news about new construction in West Chandler neighborhoods

Mon, 14 Jun 2010 20:26:50 -0700

Other great news about new construction in West Chandler neighborhoods. It looks like there is interest in developing single family homes west of the Price/101 Freeway again. There are only a "few remaining parcels available for development" according to the City of Chandler's principal planner David De la Torre, and they are starting to see inquiries about building on them. There are two parcels in particular; one on the northeast corner of McClintock and the 202 Freeway, and another just west of the Chandler Fashion Center.

Permits for single-family units only increased by 34 during the last year, but interest is starting to grow. Not only from original developers, but also from companies that have taken over incomplete projects. Some of the parcels have already had roads and other infrastructure completed several years ago, but mainly due to the market change, many of the projects were stalled. David De la Torre says "It's kind of exciting to see some renewed interest". These parcels represent some of the few parcels still available for residential subdivisions in Chandler. Building homes on these parcels would mark a milestone in Chandler's development. This renewed interest means Chandler is expecting to see "continued slow growth" over the next few years. Something West Chandler neighborhoods look forward to as the City nears completion in the development of the few remaining parcels of land.

4 bedroom, 3 car garage short sale home for sale in Mesa

Mon, 14 Jun 2010 20:15:53 -0700

Mesa Short Sale - 4 bedroom home for sale on large lot!

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

1425 N Orlando Circle, Mesa, AZ

Mesa home for sale on large lot

4BR/2BA Single Family House

offered at $215,000

Year Built	1992
Sq Footage	2,104
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	1
Parking	3 Car garage
Lot Size	18,770 sqft
HOA/Maint	$0 per month

DESCRIPTION

Nice 3 bed, 2 bath home on huge lot with flood irrigation. Lots of mature grapefruit trees. Home features large kitchen area with eat in dining and small formal dining area in the living room. Laundry room is very large, right off kitchen and garage. 3 car garage has side exit door to backyard. New windows and AC unit in the last few years! Satillo tile in all common areas and kitchen. Easy access to both the 202 Red Mtn Freeway and the US 60 Freeways. Short sale requires 3rd party approval. no HOA!

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: May 24, 2010, 12:29pm PDT

CONNECT WITH ME :

*******************************************************************************************************************

Contact Troy and Mia Erickson, Realtors®, Terra Solis Realty, LLC. Licensed Residential Realtors® in Arizona at 602-295-6807 for Chandler, Gilbert, Mesa, and Queen Creek Arizona custom, unique, and luxury Real Estate.

You can view all Chandler, Gilbert, Mesa and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Exquisite 6 bedroom home for sale in Chandler

Mon, 14 Jun 2010 19:52:16 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

2679 E. Lynx Place, Chandler, AZ

Luxurious Custom Chandler Home

6BR/4BA Single Family House

offered at $650,000

Year Built	2004
Sq Footage	4,720
Bedrooms	6
Bathrooms	4 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	18,750 sqft
HOA/Maint	$150 per month

DESCRIPTION

Must see! Too many upgrades to list. Once you enter the front door you are met with custom paint, Venetian plaster and decorator touches everywhere, upgraded fixtures, 18 inch travertine floors, granite countertops. Backyard is the entertainers dream, resort style pool w/7 fire features, firepit, 3 waterfalls, swim up bar/gazebo, outdoor Kitchen and a play house w/AC. Huge RV garage and an RV gate w/pad.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- Walk-in closet	- Family room	- Living room
- Office/Den	- Dining room	- Dishwasher
- Stove/Oven	- Microwave	- Granite countertop
- Stainless steel appliances	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Yard	- Swimming pool
- Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 14, 2010, 3:00pm PDT

CONNECT WITH ME :

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Chandler Twelve Oaks neighborhood among top 20 U.S. neighborhoods in nationwide search

Sat, 12 Jun 2010 12:59:23 -0700

Chandler Twelve Oaks neighborhood voted among top 20 U.S. neighborhoods in nationwide search. I could hardly believe this when I read it as this neighborhood is literally less than a mile from where I actually live. The Twelve Oaks area in Chandler, located on two square miles south of Chandler Boulevard between McClintock Drive and Kyrene Road, has been listed among America's Best Neighborhoods for the Money by NeighborhoodScout.com. The Twelve Oaks neighborhood consists of several subdivisions, including Twelve Oaks, Glenview Estates, and Suncrest Villas in Chandler.

The Chandler neighborhood was nationally ranked based on analysis of neighborhood data including public school ratings and test scores, crime rate statistics, home prices, real estate appreciation rates, and neighborhood demographics such as homeowner education and income levels. Andrew Schiller, creator of NeighborhoodScout.com said, "the neighborhoods are not the least expensive neighborhoods, but rather premium neighborhoods at remarkable bargain prices for their metropolitan area". The website went on to say the median home values in the Chandler neighborhood were around $272,000 and that a buyer would have to pay around $520,000 for a similar home in a "Comparable Premium Neighborhood" in the Phoenix area.

The neighborhood of Twelve Oaks is conveniently located near the Chandler Fashion Center Mall, as well as being within close proximity to the Interstate 10, Price, and San Tan freeways. It is in the Kyrene School District where my son attends school, and is close to Desert Breeze Park, where I sometimes jog to from my home and my son has played soccer. Twelve Oaks is right across the street from the West Chandler Aquatic Center and Park where my son plays little league. This park not only has an aquatic center, but three baseball fields and a bark park, as well as picnic ramadas. Twelve Oaks is also near the Sunset Library, Stellar Airpark, as well as a police substation and fire station. It is a wonderful area, and a great place to live. I should know, as I live within walking distance.

There are currently 50 homes listed for sale with prices ranging from $84,500 to $580,000. There is also one home in Stellar Airpark Estates that is listed at $3,300,000. There have been 69 sales since January 1, 2010 ranging from a sales price of $55,000 to $1,400,000. Obviously the neighborhood of Twelve Oaks is nationally ranked as one of America's Best Neighborhoods for the Money because it has something for everyone.

CONNECT WITH ME :

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

A Housing Shortage in our Future?

Sun, 06 Jun 2010 18:48:35 -0700

A Housing Shortage in our Future?

I was recently reading the latest version of Realtor Magazine, and believe it or not, Lawrence Yun, Chief Economist of the National Association of Realtors, feels this is a real possibility. I know that in this market, with all the foreclosures and short sale listings, it is difficult to imagine that there are not enough homes available for buyers. As a matter of fact, Lawrence Yun estimates as of today "there might be as many as 700,000 empty units above normal levels". However, what may cause the housing shortage is the lack of new home construction over the past several years.

The article by Lawrence Yun says that "Home builders must add 1.6 million to 1.7 million housing units each year to accomodate typical U.S. population increases and replace demolished homes". Here are the number of housing starts by year since the market took a turn in 2006.

YEAR	2007	2008	2009	2010 (Forecast)	2011 (Forecast)
Housing Starts	1,340,000	900,000	550,000	680,000	950,000
Cumulative Surplus/Deficit*	+1,020,000	+320,000	-730,000	-1,650,000	-2,300,000

*Based on 1.6 million housing starts to accomodate typical U.S. population increases, and starting with a 1,280,000 surplus in 2006.

As you can see by the table, there will be a shortage of an estimated 2.3 million homes to accomodate U.S. population increases. This will surely be an issue that will need to be addressed. As you all know, a shortage in housing should increase property values. This could benefit current homeowners, as well as the construction industry, but may hurt potential new buyers entering the market. This is a national concern, but some states and local markets will benefit from this, while others will suffer. We will have to wait and see how this plays out, and I am intrigued to see how this will impact our local Phoenix market.

Large Chandler 4 bedroom home for sale

Mon, 24 May 2010 18:52:54 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

3942 S. Tower Ave., Chandler, AZ

Large Chandler 4 bedroom home for sale

4BR/2BA Single Family House

offered at $220,000

Year Built	2003
Sq Footage	2,677
Bedrooms	4
Bathrooms	2 full, 0 partial
Floors	2
Parking	3 Car garage
Lot Size	7,640 sqft
HOA/Maint	$52 per month

DESCRIPTION

HUGE 4 bed, 2 bath with large loft that has 2 work station desk areas upstairs. Downstairs is formal living/dining room and large great room off kitchen. Dine in kitchen area, kitchen island and additional 1/2 bath downstairs. Pie shaped lot is large enough to add a pool. Garage is 3 car tandem perfect for extended length vehicles!

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: May 24, 2010, 11:12am PDT

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Great video on the Home Affordable Foreclosure Alternatives (HAFA) Program

Fri, 07 May 2010 01:01:58 -0700

A great video on the Home Affordable Foreclosure Alternatives Program.

This program has been set up to help homeowners who can't afford their mortgages. If you live in Chandler, Gilbert, Queen Creek, or the surrounding area, you may be the one out of every seven homeowners who are unable to make your mortgage payment. You may also be the one out of every four homeowners who is underwater on your mortgage. If so, you should watch this video. The HAFA may be something that can help you out of your current situation, and allow you to move on with your life. Please feel free to contact me after you have watched the video, with any additional questions you may have. Homeowners must meet specific guidelines in order to qualify for this program.

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Custom Queen Creek home for sale on 1.2 Acres

Sun, 25 Apr 2010 12:59:47 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | troyandmia@terrasolisrealty.com | 602-295-6807

3955 E. Flintlock Drive, Queen Creek, AZ

Custom Queen Creek beautiful home for sale on 1.2 acres!

6BR/3BA Single Family House

offered at $549,900

Year Built	1998
Sq Footage	3,100
Bedrooms	6
Bathrooms	3 full, 0 partial
Floors	3
Parking	3 Car garage
Lot Size	52,272 sqft
HOA/Maint	$0 per month

DESCRIPTION

This house is a must see, custom home beauty on 1.2 acres with stunning mountain views. Kitchen is the heart of the home, complete with granite counter tops, a double oven and new wood floors through out. All bathrooms have been remodeled. Has a private loft area upstairs perfect for a playroom or library. Basement boasts three large bedrooms and a large closet for storage. Property has a corral and horse rights, not to mention a beautiful swimming pool and a fun volley ball court. Motivated Seller, come check it out and make us an offer!

see additional photos below

ADDITIONAL PHOTOS

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Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

troyandmia@terrasolisrealty.com

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 24, 2010, 7:30pm PDT

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Lovely 4bd Chandler custom home on Acreage

Sun, 25 Apr 2010 00:23:16 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

14040 E. Ocotillo Road, Chandler, AZ

Lovely 4 bedroom Chandler custom home on acreage

4BR/3BA Single Family House

offered at $349,900

Year Built	1996
Sq Footage	2,700
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	1
Parking	2 Car garage
Lot Size	46,667 sqft
HOA/Maint	$0 per month

DESCRIPTION

This is a beautiful custom home on 1.25 acres of well maintained horse property. It features many upgrades and additions completed within the past three years including, new exterior paint, vinyl perimeter fencing, granite counter tops, shutters, a mother-in-law suite/home business addition just to name a few. It also features RV hookup and the horse stall and arena area has full electric and water. Appliances & Fixtures are negotiable. This one is too great to pass up! Come see it and make us an offer today!

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3	Photo 4
Photo 5	Photo 6

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 24, 2010, 9:09pm PDT

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Lovely Gilbert 5bd home in Western Skies Estates

Sun, 25 Apr 2010 00:10:57 -0700

Troy and Mia Erickson | Terra Solis Realty, LLC | 602-295-6807

1090 S. Palomino Creek Dr., Gilbert, AZ

Lovely Gilbert 5bd home in Western Skies Estates

5BR/3BA Single Family House

offered at $231,000

Year Built	1996
Sq Footage	3,102
Bedrooms	5
Bathrooms	3 full, 0 partial
Floors	2
Parking	3 Car garage
Lot Size	7,157 sqft
HOA/Maint	$0 per month

DESCRIPTION

Bank just sent a price to us at $231K. Hoping for a quick approval on a new buyer. Home is sold AS IS. Needs a few things, but isn't too bad! (stove missing, hot tub motor needs repair, a little clean up) Great opportunity to live on the golf course at a great price! Wonderful view, floor plan. Go see it quick- one offer to bank at a time.

see additional photos below

ADDITIONAL PHOTOS

Photo 1

Contact info:

Troy and Mia Erickson

Terra Solis Realty, LLC

602-295-6807

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 24, 2010, 11:40am PDT

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Biggest obstacle to Arizona housing recovery may be lack of jobs

Fri, 23 Apr 2010 16:32:25 -0700

Biggest obstacle to Arizona housing recovery is lack of jobs.

One of the biggest obstacles to an Arizona housing recovery is the lack of jobs. I have heard that the Metropolitan Phoenix housing market is not expected to recover until 2014. People are saying that without jobs to draw more residents, there will not be enough people to fill the almost 80,000 area homes that were left empty by the latest recession. This will lead to home prices remaining depressed.

The other biggest reason for a delayed housing recovery is that the Phoenix Metropolitan area is still experiencing high foreclosure rates. New jobs would help curb the foreclosure rate. Experts in real estate trends say home building is at its lowest since the 1970's, which I guess I feel is a good thing. If there are 80,000 vacant homes, who needs to build new homes?

Arizona lost more than 210,000 jobs in 2008 and 2009 according to Elliott Pollack, a Scottsdale-based economist. He doesn't see the demand for homes meeting the supply of homes until 2014. The latest data shows that Arizona's population growth has leveled off, or even declined over the past two years. An example of this is new utility hookups are at their lowest level in Phoenix since the 1950's. Many so-called experts tend to believe we will continue to see more bankruptcies and foreclosures over the next two years, as we pull out of this recession.

Pollack forecasts that "Arizona will add 250,000 new jobs and 550,000 new residents by the end of 2014." That growth would create demand for about 180,000 homes, and take care of the current 80,000 vacant homes and then some. Sounds like the Phoenix Metropolitan housing recovery will be slow, but perhaps that is a good thing.

Resale home sales increasing, but mainly due to foreclosures!

Fri, 23 Apr 2010 02:35:21 -0700

Although the number of resale home sales is increasing, it was mainly due to foreclosure sales. There was a total of 6,490 single family detached home resales in March according to the report written by Jay Butler, associate professor of real estate at the W.P. Carey School of Business at Arizona State University. Out of the 6,490 sales, 4,370, or 67.3 percent were foreclosures. I don't know how much higher this can go, but if it weren't for foreclosures, there would have only been 2,120 resales in March, which would be significantly lower than the norm for this time of year, which is the beginning of the seasonal increase of sales through August.

This goes to show you that the foreclosures are holding back a true recovery. Obviously if it wasn't for the foreclosures, we would be in a much slower market, which would actually add to a faster recovery, and a faster increase in home values. Unfortunately, the number of foreclosures is not going to decrease anytime in the near future. The 4,370 foreclosures for March was a record for the valley, surpassing the old record of 4,200 set in July of 2009. Another reason for the increase in total home sales for March may be the fact that the homebuyer federal tax rebate is coming to an end April 30th. The good thing is the median sales price has been steadily increasing over 2009 stats, and is up 9.3 percent over March 2009, when the median sales price was $127,000.

In order for the Phoenix Metropolitan single family resale market to reach a point of stabilization, there must be a huge decrease in the number of foreclosures. Some things that will impact the foreclosure market are job and income growth, the remaining number of adjustable rate mortgages still expected to reset in the next year or two, and the amount of shadow inventory that has yet to hit the housing market.

Here's a graph of how some of the cities fared:

CITY	MARCH 2010 RESALES	% CHANGE FROM 2009	MARCH 2010 MEDIAN	% CHANGE FROM 2009	MARCH 2010 FORECLOSURES	% CHANGE FROM FEBRUARY 2010
Phoenix	1,660	-10.3%	$95,000	32.6%	1,310	19.5%
Chandler	370	37.0%	$195,000	-7.7%	245	30.6%
Gilbert	420	25.4%	$185,000	-8.1%	260	34.6%
Mesa	655	20.2%	$133,000	5.3%	450	32.2%
Tempe	100	53.8%	$167,385	-19.5%	55	18.2%
Maricopa County	6,490	9.3%	$142,500	10.9%	4,370	24.4%

Folks, we're getting closer, but we're not out of the woods yet.

Valley resale prices are still showing signs of a recovering Arizona housing market

Fri, 23 Apr 2010 01:28:21 -0700

Valley resale prices are still showing signs of a recovering Arizona housing market. According to ASU professor Karl Guntermann, Arizona State University's Repeat Sales Index is on the verge of stabilizing, despite thousands of homeowners who are still losing the battle against foreclosure. The Index has been dropping consecutively for the last 34 months since home prices peaked in 2006. If the trend continues, resale home value decreases will likely come to an end in just a few more months. The Repeat Sales Index measures the difference in the average price of selected homes from year to year. An index of zero percent would mean that prices were roughly the same as they were a year earlier. By looking at the table below, if the trend continues, we could have a Repeat Sales Index of zero by June of this year, although the decline has slowed down from 4% over the last two months to 2% for February estimates. "The total decline of Valley home prices from the peak in mid 2006 is 47 percent", said Guntermann.

MONTH	MEDIAN PRICE	PERCENT DECLINE
February 2009	$121,000	37%
March	$119,000	37%
April	$117,500	35%
May	$119,000	33%
June	$122,000	31%
July	$125,000	28%
August	$126,500	25%
September	$130,000	23%
October	$131,000	20%
November	$135,000	17%
December	$133,000	13%
January* 2010	$125,000	9%
February*	$127,000	7%

* Preliminary Data

As far as foreclosures go, that index of zero may be reached very soon. In November the index for foreclosed homes was 9 percent. By December the numbers show the index falling to 5 percent. January and February estimates show the foreclosure index falling to 2 percent.

The median sales price of homes has started to increase again, after falling in December and January. By looking at the table, you can see that the median sales price had been on the rise, from a low of $117,500 in April to $135,000 by November. Last year it took till May before we saw an increase in the median sales price, and this year we see an increase already in the preliminary numbers for February. The median price for February is already up to $127,000 from $121,000 in February of 2009.

How much home can you afford in Chandler, Arizona?

Thu, 22 Apr 2010 18:35:27 -0700

How much home can you really afford in Chandler Arizona?

When it comes to buying a home in Chandler, and figuring out how much you can afford, there are a lot more factors than just how much money you make. There are factors such as credit score, credit history, and available cash that will also determine how much home you can, or should buy. Everyone knows that qualifying for a loan these days is much more difficult than four years ago, and to some extent, that is a good thing. At the same time, if you are in the market to buy, here are some things you should be aware of given today's current lending environment.

Credit Score - The lower your credit score, the higher your interest rate will be when qualifying for a loan. If your credit score is too low, you will not even qualify for a loan. To qualify for an FHA loan, most lenders will require you to have a credit score between 620 and 660. For a conventional loan, your credit score needs to be above 680, and preferably over 720. The higher interest rate you pay on your loan, the less of a home you can buy, so having a good credit score can help you buy more with your money.

Credit History - Along with your credit score, lenders will look at your credit history. This includes the number of revolving accounts you have, the balance on those accounts, and how much you pay each month on these accounts. These revolving accounts include all credit cards where you carry a balance each month. This also includes other things like car loans, student loans, and any other monthly debt payments you make, including rent or a current mortgage. It is critical to maintain a low balance on any of these accounts if at all possible and make sure to pay these bills on time. You also must not have too many of these accounts, as any payment on them is going to reduce the amount of money you can apply towards a new mortgage payment, and you won't be able to buy as much home.

Cash - Another factor to determine how much home you can afford is the amount of cash you have to apply towards closing costs, and/or a down payment. You can get a lower interest rate by putting a larger down payment on a home, and if it is more than 20%, you will avoid paying Private Mortgage Insurance (PMI). You can also pay for closing costs, which will reduce the overall loan amount. You can also buy down the interest rate if you have cash, which will reduce the monthly mortgage payment, and allow you to buy more home.

If buying a condominium, townhouse, or single family home in a cummunity with a homeowner's association, those monthly fees will also reduce the total amount you can afford on your monthly mortgage payment. If you own your own business, how much income you declare on your tax return is what will determine how much home your lender feels you can afford. Stated income loans have pretty much gone away, and lenders want to see at least two year's of tax returns for your business, a profit and loss statement for the current year, as well as other documents.

One final thing to remember is that you don't need to accept how much the lender says you can afford when it comes to buying a home. You need to make sure you are comfortable with the loan amount and the monthly payments. So, how much home can you afford to buy in Chandler depends on your income, credit score and credit history, the amount of cash you have, and how much you are comfortable spending.

10 Things to know as time runs out on the Homebuyer Tax Credit

Mon, 19 Apr 2010 14:29:12 -0700

Ten things to know as time runs out on the Homebuyer Tax Credit. Anyone hoping to participate in the $6,500 to $8,000 homebuyer tax credit has only until April 30th (11 days) to sign a binding contract. Vicki Cox Golder, National Association of Realtors President, thinks it is highly unlikely that Congress will extend the homebuyer tax credit for a third time. The first thing a homebuyer must do is get pre-approved for a loan. Most offers to purchase these days must include a pre-approval from a lender before the seller will even look at an offer. Here are ten other things to know:

1. You must enter into a contract on a principal residence on or before April 30th. Once you have a signed and agreed upon contract, you must also close on the home before June 30th.

2. The credit that you are allowed is 10 percent of the home's purchase price, up to $8,000 for first-time buyers, and $6,500 for current homeowners that are purchasing a new primary residence.

3. To qualify for the first-time homebuyer tax credit (up to $8,000 tax credit), you (and your spouse if married) must not have jointly or separately owned another principal residence for three years prior to the purchase.

4. In order to qualify for a resident homebuyer ( up to $6,500 tax credit), you (and your spouse if married) must have lived in the same primary residence for five consecutive years out of the last eight years. You must have purchased a new primary residence after November 6, 2009. If you are married, you and your spouse must have owned and used the same principal residence.

5. The tax credit does not have to be repaid if you remain in the home for three years. If you sell this primary residence within 36 months, the full credit must be repaid on that year's tax return.

6. For homes purchased after November 6, 2009, single taxpayers must have a modified adjusted gross income of $125,000 or less, and married couples filing jointly must make $225,000 or less. The credit is reduced for single taxpayers who earn up to $145,000 and couples who make up to $245,000. Any taxpayer with a higher income does not qualify.

7. An existing homebuyers' new principal residence must not cost more than $800,000. Existing homebuyers do not have to sell their former principal residence to get the credit.

8. You can qualify for the tax credit with a new-construction contract. However, homebuyers must close and occupy the new construction home by June 30.

9. Homes purchased from a direct relative, includes spouse, parent, grandparent, child or grandchild, are not eligibe for the tax credit.

10. For homes purchased in 2010, homebuyers can claim the credit on their 2009 or 2010 tax return.

Time is running short, but there is still time for the saavy buyer to get the Homebuyer Tax Credit.

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

Queen Creek planning on developing master-planned community

Mon, 19 Apr 2010 12:53:12 -0700

Queen Creek planning one of largest master-planned communities is a good sign of housing recovery. A new development called Church Farm would border Meridian and Signal Butte Roads to the east and west, and Ocotillo Road and the Queen Creek Wash to the north and south. This project would include about 900 acres, and the plans call for 1,750 homes to be built. If the project is approved by the Town of Queen Creek, it would be one of the largest projects in the town's history. The builder, William Lyon Homes, could start pulling permits by the end of 2010.

Arizona housing analyst R.L. Brown said that this is the first time that he has heard of such a large project moving forward in quite a while. He also said, "The whole Southeast Valley appears to be recovering ahead of other parts of the Valley." This is definately a long term project, and it will probably be years before that much real estate is developed and sold. Arizona still has lots of room to grow and develop, and I think in the years to come, it will still be a destination for people because of the weather and opportunities for growth. Queen Creek has seen a lot of growth from 200 to 2006, and I feel that it is ready for another growth spurt. This master-planned community in Queen Creek is a good sign that developers are considering the housing market to be making a recovery.

Gilbert Arizona home values by zip code

Fri, 26 Mar 2010 22:59:27 -0700

Gilbert Arizona home values by zip code. I retained this information from our local newspaper, and thought this could be valuable to not only those of you looking to buy a home in Gilbert, but also for those of you looking to sell.

NEW HOME SALES:

Gilbert Zip Code	Median Home Value 2009	Percentage Change 2008-2009	Percentage Change 2004-2009
85295	$180,804	-21.4%	-12.9%
85296	$251,140	11.6%	48.8%
85297	$240,000	-7.1%	19.0%
85298	$244,268	-22.9%	11.9%

As far as new home sales go, there was a loss in median price of all but one zip code between the year 2008 and 2009. However, in zip codes 85296, 85297, and 85298, there has been an increase in median home values since 2004. That's a pretty good sign that new homes in Gilbert are maintaining their value, and even increasing over the years.

NEW AND EXISTING HOMES:

Gilbert Zip Code	Overall Median Home value 2009	Best year for price gains	Percentage Change 2008-2009	Percentage Change 2004-2009
85233	$187,000	2005	-20.3%	-2.6%
85234	$189,000	2005	-23.8%	-6.9%
85295	$182,500	2005	-20.6%	-17.5%
85296	$188,000	2005	-16.5%	-0.5%
85297	$212,808	2005	-14.5%	5.6%
85298	$249,085	2005	-17.9%	11.9%

Another good sign that Gilbert is doing okay, all things considered, is that in zip codes 85297 and 85298, they have had an increase in median home value since 2004. Yes, they all had a decrease between 2008 and 2009, but the decrease experienced in Gilbert wasn't as much as other cities like Mesa, Glendale, and Phoenix, which all had percentage decreases over 40 percent in some of their zip codes. The overall median home values are still over $200,000 in zip codes 85297 and 85298 as well.

The Gilbert home values by zip code shows that Gilbert is doing much better than a lot of the other cities in Maricopa County. Hopefully this information is valuable to those of you looking to buy or sell in Gilbert.

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You can view all Chandler, Gilbert, and Queen Creek custom, unique and Luxury Real Estate from our website. We are here to help you buy or sell!

A reason to run! - It's that time of year again

Fri, 26 Mar 2010 17:11:28 -0700

So here I am getting ready to run in my second Pat's Run. I survived last year's run, barely, but have made Pat's Run something that I just feel the need to participate in. Like I said in my post about this last year, I am not, and never have been a runner. In fact, I don't really enjoy it. However, I have come to love the Pat's Run, and now have a goal this time around.

This year's Pat Tillman Run in Tempe, AZ will be on Saturday April 17th, 2010. The 4.2 mile run will start at 7:00am. Today was my fourth time running in preparation for the run, and I am feeling much better than last year around this time. I now know what to expect from the race and am familiar with the route. Last year I almost ran out of steam at the end, and didn't realize there would be a fairly steep hill to climb. I think I started off too fast last year, and now I know that I need to pace myself. My goal this year is to break a 10 minute mile, as I just missed this last year by less than a minute.

As you can see by the pictures, I was looking pretty good in the before picture (right). After the race, you can see in my face that I look like I may get sick at any moment (below). Both my son and my neighbor looked as though they hadn't even ran.

During the race last year, both my neighbor and my son could have easily ran a much faster time. I kept telling them to go ahead, but at one point in the race my neighbor turned to me and said, "you never leave a man behind." They stuck with me the entire race to the detriment of their own times. This year, I want to make sure they run their own race, and I will finish several minutes behind them while running at my own pace.

More than 20,000 runners, walkers, volunteers and spectators will participate in Pat's Run Tempe this year. The 4.2 mile run/walk celebrates the life of former ASU football star and Army Ranger, Pat Tillman. Proceeds from the race benefit the Pat Tillman Foundation and its Leadership through Action^TM initiatives.

I will make this plea again this year. Please, if you have an opportunity, get involved or make a donation to this wonderful foundation. You never know what you are capable of until you challenge yourself. I hope to see lots of you at the Pat Tillman Run in 2010.