10. August 2011 by Teri Ellis.

When going into a new home subdivision, be sure to bring your Realtor!  Did you know? The agent at the new home subdivision represents the BUILDER, not the BUYER! I’ve gathered together more suggestions and tips from the Department of Real Estate – along with my own ideas for your information:

New Homes in a Subdivision

1.  You should read the Arizona Department of Real Estate Public Report. By law, this document must be given to you before you sign the purchase contract. You must sign a receipt for the Report. By signing the receipt, you imply that you have read the report.

The Public Report will inform you about such things as:

• Flooding and drainage disclosure
• A description of adjacent land and uses
• Who provides electricity, telephone, gas, water and sewage disposal
• Common community and recreation facilities
• Assurances for completion of improvements
• Local services and facilities, including schools, shopping facilities, public transportation, medical facilities, fire protection, ambulance service, police protection and garbage services
• Taxes and assessments
• Property owners association details

If you have any questions about the Public Report, you are welcome to call the Arizona Department of Real Estate at 602-468-1414. A Subdivision Representative will assist you with your questions.

The cover sheet of the Public Report contains a disclaimer by the Department of Real Estate. Read it carefully. Most importantly, note that it states:

“Not all of the information in this report has been verified by the Department; certain information has been accepted by the Department as true and accurate based on attestation of the subdivider and/or the subdivider’s agents. You should verify all facts before signing any documents.”

2.  Read the purchase contract carefully. Note that if the builder or developer is not placing your earnest money deposit in escrow, the funds may be placed in the builder’s or developer’s general funds account, and may be used for any purpose. You could lose the money if the builder or developer declares bankruptcy or otherwise goes out of business. If the funds are not going to be placed in escrow, that fact must be stated in a separate paragraph in the purchase contract and you are required to initial that paragraph. Make sure you understand where your earnest money is going to be deposited.

3.  Before you sign a purchase contract, drive around the home for at least a mile or more in every direction to see how the surrounding area appears to you and what land use of safety issues exist in the area. Is there a storm drain or canal nearby that might pose a hazard to your children? Is the home or building site near an airport or a manufacturing plant? Visit the area at different times of day, on weekends and in the evening. Disturbing noises and odors can travel farther at night.

In areas where there are expanses of vacant land nearby, check city or county zoning maps to see if nearby property is zoned for apartments, industrial or commercial use. Land zoned for commercial use might be used to construct anything from a shopping center to a hotel. To obtain this information, call the city or county planning and zoning department listed in your telephone directory.

Check Arizona Department of Transportation maps to find the nearest future freeway routes, and whether roads in the area are slated for widening. For information about reviewing the maps, call 602-255-7011.

3.  Call the school district serving the subdivision to determine whether nearby schools are accepting new students. Some school districts have placed a cap on enrollment. You may find that your children cannot attend the school nearest you and may even be transported to another community.

4.  Read the deed restrictions, also called CC&Rs (covenants, conditions and restrictions). You might find some of the CC&Rs are very strict, especially those addressing landscaping, RV parking, play equipment, satellite antennas, and other common amenities — particularly if the subdivision is governed by a homeowner’s association.

5.  Check out the homebuilder with the Arizona Registrar of Contractors. You can determine the number of complaints customers have filed against the contractor, whether any are unresolved and whether the builder’s license has ever been suspended or revoked. You may reach the Registrar of Contractors at 602.542-1525.

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25. May 2011 by Teri Ellis.

Crismon Creek is a small community located in East Mesa. Situated just east of Crismon Street and north of Baseline, this popular spot in Mesa sports three parks/tot lots, retention basins, a great mix of families and retirees, is 1/2 mile from the 60 Freeway and only one mile from the 202. Just east of Crismon Creek is the Mesa Swap Meet and Superstition Gateway which boasts such big stores as Wal-mart, Kohls, Best Buy, restaurants, theaters and more.

One of the favorite activities that the HOA Board oversees each year is the Easter Egg Hunt. I’ve heard that even  some of the streets have an Easter Egg Hunt totally put together by the homeowners. I’ve included some photos of our recent “Hunt.”

The community also holds two garage sale events during the year. For current and up to date information on Crismon Creek, check out the CrismonCreekBlog. For a search of homes in Crismon Creek simply click here – Crismon Creek. To search the entire Phoenix Metropolitan area including Mesa, Gilbert, Gold Canyon, Chandler, Queen Creek, click here – MLS. For any questions or information requests regarding Crismon Creek or surrounding areas, just call me, Teri Ellis, at Homes Arizona Real Estate - 480.382-8711. OR you can email me at: Teri@TeriEllis.com, follow me at Facebook – Mesa Arizona Real Estate, or Twitter – MesaAzHomes!

Posted in Arizona, four bedroom pool home, Mesa, Homes Arizona, Buyers, Real Estate Market, Blogroll | Print | No Comments »

11. May 2011 by Teri Ellis.

Just yesterday morning, a landmark located in northern Arizona, burned down. Fortunately, I’ve been one of the many who had the opportunity to visit this pristine area.  I’ve taken several photos of the Lodge and the area, and share them here.

Located about three hours north and east of Mesa, Arizona, this mountain community is special. Scattered around the “former” Lodge are cabins, catch and release fishing, green, green meadows and lakes, streams and trees and mountains.

Truly this amazing Lodge will be missed sitting as a reminder that a community such as this still is alive and well. I’ve heard the owner will rebuild, and I, of course, will continue to visit and enjoy the beauty of northern Arizona.

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13. October 2010 by Teri Ellis.

I recently “happened” upon an article about Special Warranty Deed vs. a Warranty Deed. I began to wonder? In our real estate markets, do those purchasing a property understand just how each of these Deeds protect them? The simple explanation?

Arizona’s standard residential contract provides for a general warranty deed from the seller.

So, whether buyers purchase a bank owned or a seller owned property, generally the title insurance covers any defect in title. This is yet one more reason to have good title insurance.

Related articles

• The ABC’s of Deeds (stroupecondoblog.com)

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27. February 2010 by Teri Ellis.

Image by Teri Ellis via Flickr

I’ll be posting most of my new information on AzLadyInRealEstateBlog.com.   This will contain good information for buyers and sellers in the Phoenix real estate market. Searching for a home, searching for a specific community? Then watch carefully. I will be setting up one-click links to properties throughout the valley. In the meantime, please feel free to contact me if you would like me to set you up on a portal specific to your searches.

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1. December 2009 by Teri Ellis.

Drop Bidding in Arizona is illegal! Apparently there is a disturbing trend in the Phoenix, Arizona real estate market known as “drop bidding” on the properties being put up for auction. I’ve provided a link for the reader’s further enlightenment; however, “as usual” those that choose to stretch the boundaries of truth are finding other ways to cheat others out of purchasing these homes.

In a nut shell, a drop bid is a tactic used to sell a property faster. Though this practice is legal in some states, drop bids are illegal in Arizona.  Arizona law requires that opening bids on the foreclosure properties are to be posted at 9:00 a.m. the day before the auctions. This is so all potential bidders, including the homeowner, have the information in time to research a property and line up the money to bid. [The Arizona Republic - 11/22/2009, p. A20]

The drop bid is happening on the courthouse steps the day of the auction. It appears as though a few “insiders” are the ones privy to this information and, thus, are able to grab the deals before the regular folk can even have a chance!

I cannot even believe how corrupt our country has become! Everywhere I turn, there’s another story of thievery and greed! What is to become of our world if this continues?

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13. October 2009 by Teri Ellis.

Beautiful Custom Home in Buckeye, Arizona

19829 West Lower Buckeye Road, Buckeye, AZ 85326 View Map

Custom family/entertainer’s home complete with:

*Travertine throughout
*Double pane low e windows
*solid knotty alder wood doors
*plush carpeting
*Four fireplaces
*Center Courtyard surrounded by home and fireplace and fountain and plants
*HUGE rooms
*Formal Dining/Living Area
*Great Room with fireplace and niches
*Kitchen - Butler’s Pantry - Wolf stove and ovens - lots of drawers and counter space - two islands with sinks
*Four bedrooms - each has own bath with granite countertops
*Four car garage with an RV garage
Two lots, two homes. Ten acres, irrigated

Must see to appreciate!!!

Details

Asking Price:

1,700,000

MLS:

4270083

Sq. Feet:

5477

Lot Size:

10 ACRE

Bedrooms:

4

Bathrooms:

4.5

# of Floors:

1

Garage Size:

4

Year Built:

2007

Contact Info

Teri Ellis, Realtor
Broker, ABR, CRS, ePRO, GRI, MRE

Dir 480.216-3334
Email | Website

All information is deemed reliable but is not guaranteed.

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3. October 2009 by Teri Ellis.

Lately, I’ve been inundated with requests to purchase bank owned properties - particularly in the neighborhood price range of $50,000. Since short sales take months and months to even find out if the buyer can purchase the home, I’ll deal more particularly with REO’s or bank owned or foreclosed homes.

When a home is foreclosed upon, all other liens are wiped out. In a short sale, more often than not, the seller has a second as well; therefore, the problems arise because the holder of the second is typically difficult to work with. Since it’s very costly for the bank to foreclose on a home, they often try and work with the second and therefore, take months to work out an acceptable deal for both banks.

     I recently found a home for a buyer - bank owned - the buyer had an accepted offer of $86,000, ordered a home inspection performed at a cost of over $300 out of pocket to him, had the utilities turned on for additional out of pocket, and hired a plumber to fix a water pipe in order to have the home inspection. Everything went according to plan - and then - shortly before closing, the selling agent notified us that title was unable to insure the home. There were liens on the home.

     Long story short, after speaking with the title officer, one particular investor (bank) had purchased properties from another investor/bank. (Think of Country Wide and Bank of America as an example) 300 homes fell out BECAUSE the properties had not been foreclosed upon, thereby preventing the title company to insure. Liens were on all of the properties. As I mentioned, it is expensive to go through a foreclosure process for the banks. It appears that this was yet another example of fraud! My buyer is out the money he spent to get into the home, as well as 299 other buyers just with that title company.

     Though many of the bank owned are successful, this is just one example of the unknown backlash of purchasing a bank owned. No disclosures by the owner, buyer is purchasing as is, and subject to the bank’s rules.

     My recommendation? Make sure you listen to the advice of your Realtor. Chances are, they are more in tune with the market than you are. Try and remember also? The cheaper home is not necessarily a good buy after all…..

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17. August 2009 by Teri Ellis.

I posted a blog a year ago on my Teri Ellis Active Rain Blog about fissures appearing throughout Phoenix and surrounding areas, including Queen Creek, Arizona!!! It has now reared its ugly head once more. Check out my blog from last year in order to grab the links to the information you might need.

I received a call today from a woman living in Pecan Creek - North. She found my name online, and thought maybe I could “direct” her to a place she could lodge a concern or complaint about the “sink holes” appearing in her yard and that of her neighbors’ homes.

The builder, Fulton, had not remedied her problem, and customer service seemed unwilling to make certain her home was on stable ground. She told me that there were now issues with her water pipe. Her neighbor was experiencing similar problems and, in fact, cracks seemed to be causing stress on her patio.

My immediate thought was: “I was showing homes in that neighborhood last Saturday!!!”  These are definitely warnings that need to be out there for potential home buyers/sellers.

My suggestions included: writing to Fulton Homes, reviewing the information HERE!!!! - and checking out the Arizona Department of Real Estate  as well as sharing information on Twitter and Facebook to get the word out. I also told her I would post it on my blogs so people could be on the lookout.

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4. August 2009 by Teri Ellis.

Recently I received a telephone call from a Realtor from another state. He introduced himself, told me he had found me through Active Rain, and knew so and so, and so and so.

After we finished with our introductions, he told me he had a client that had a home in Mesa, Arizona, and they wanted to find someone to list it for them. As I began to question him on the circumstances of the sale, he said that they just “needed” it listed. I prodded him further asking if they had taken out a second and if they were upside down. He said, yes, and basically needed it listed in order to complete their purchase of a home through him.

He further went on to tell me that they didn’t really care whether they sold it or not, and he didn’t need a referral fee. Sound fishy? Yep, to me it did – and was.

I told him this: “they are buying another home and bailing on this one,” and he pretty much indicated that this was the case though “he didn’t know for sure.” I told him that was mortgage fraud knowing when you purchase one home that you are walking from the other one!! You see, I have very strong feelings about this type of transaction. NO WONDER we are in such dire straits in America!! People don’t think twice about their obligations to keep their promises – AND – this agent had never heard of the Buy and Bail scheme. Yeah, right!!

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