As I indicated in a recent Blog post, our market is quickly changing. In April, there were 1,671 active listings in Mesa, Arizona; 406 under contract with contingency and 770 pending. Today, June 8, 2015, there are 949 active abuyersagency[1]arizona state flowerlistings and 264 Active with Contingency and 462 Pending.

This is almost a 50% drop of inventory in two months! As evidenced by these numbers, and with only 14,262 3-bedroom, 2-bath, Active Single Family Dwellings available, and a total property listing of 20,297 active listings, our market is definitely  turning to a Seller’s Market due to lack of inventory.

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Today’s market reminds me of the market turn in 2005 where we only had about 7,000 active listings in the entire Phoenix, Arizona MLS system which includes mobile homes, apartment homes, condos, townhomes, and single family homes as well as any properties from the cooler parts of our state. Often, selling agents will put their listings for the homes in Show Low, Pinetop, Lakeside, and other mountain retreats on our MLS, so that is included in the numbers.

I just wanted to make everyone aware of our market whether you be a seller or a buyer. 

For any questions, just give me a call or text at: 480.216-3334 or email me at: Teri@TeriEllis.com

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Many buyers and sellers are under the misconception that purchasing a home “as is” means that sellers don’t have to disclose any known problems with the home.

Even though selling bluesellerinfoa home or any property "as is" generally eliminates seller warranties,  "As is" does not protect a seller from the fraudulent act of failing to disclose a known material defect. 

contractA “material” fact is one that is known by the seller, and must be disclosed. I’ve attached a link to a wonderful article which clearly sets forth just what must be disclosed – and why! Basically: if known, might have caused a buyer or seller of real estate to make a different decision with regards to remaining in a contract or to the price paid or received.

Sellers – Always disclose even if you decide to sell your property “as is.” If in doubt, disclose. That’s why you have a Sellers Property Disclosure to fill out and present to the Buyer.

As always, call me at: 480.216-3334 or email me at: Teri@TeriEllis.com with any real estate related questions you may have. I’m always willing to help.

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Earth Day/Week 2015! Part One!

by Teri Ellis on April 24, 2015

I was thinking this week about how to better celebrate Earth day than to recycle. From time to time I am concerned that I could do a bettearthdayer job of recycling than I already do, so I wanted to check out just what the U. S. Environmental Protection Agency (EPA) had to say.

According to the EPA, we Americans generate about 250 million tons of trash yearly…and we recycle nearly 35 percent of it, up from less than 10 percent thirty year’s ago. That saved more than one quadrillion units of energy, comparable to the power consumed by more than 10 million U.S. households in a year. Wow!

Additionally, according to the Institute of Scrap Recycling Industries, more than 65 percent of our paper is recycled mostly here in North America, but also in more than 80 countries. AND nearly 60 percent of U.S. aluminum consumption comes from domestically reclaimed aluminum.

There’s more, earth dig1much, much more good news. Now, let me share a portion of the Not so good news:

Amazingly, we in the U.S. still toss nearly two-thirds of our glass and about 87 percent of our plastics. Apparently they’re often not collected in community programs because it’s not cost-effective.

The EPA estimates that food is now the single largest type of waste going to landfills averaging 20 pounds per person in a month. Wow!

Since this blog post is getting long, I’ll continue this on another day. Don’t want to overdo the grey matter in our brains.

As always, call me at: 480.216-3334 or email me at: Teri@TeriEllis.com with any real estate related questions you may have. I’m always willing to help.

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Mesa, Arizona Real Estate Sales Update!

by Teri Ellis on April 16, 2015

Here it is Thursday already and I have yet to update my “need to know” information about sales in and around Mesa, Arizona compared to just buildingtheamdreamten days’ ago.

As of today, there are 1,671 active listings in Mesa; 406 under contract with contingency and 770 pending.

As of April 6, 2015 there were 22,575 HOMES FOR SALE in our Phoenix market and today: 22,377!

arizona state flowerAfter the winter in 2014-15, I suspect there will be more people searching for warmer weather, and in particular, Arizona! We welcome all of you to our beautiful state!

We seem to be slightly leaning towards a seller’s market, but watching these numbers helps all of us to determine the market trend. It is on the uptick in my opinion, but I shall watch and see…..

As always, call me at: 480.216-3334 with any questions you may have. I’m generally within reach of my phone.

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Once a week I’ll post an update on active and pending homes for sale in Mesa. AND I’ll add other cities from time to time.

As of today, April 6, 2015 there are 22,575 HOMES FOR SALE in our Phoenix market! That means our inventory is coming down. It looks like we are still in a balanced market, but … who knows for how long, and it might then be a seller’s market. Since we still have low forsalesigninterest rates, if you have been “thinking” about purchasing or selling a home, don’t wait too long. I remember telling people that in 2002, and we all know what happened to that market. Again, in 2005 when in January we had just about 7,000 active listings.

Remember these listings in our market come from all over our Phoenix Valley including the mountains and outlying areas – not just the Phoenix metropolitan area.

As of today, there are 1,683 active listings in Mesa, Arizona and 773 pending listings.

There are also 395 contracts that are under contract with backups accepted.

callmeAs always, call me at: 480.216-3334 with any questions you may have. I’m always willing to help.

 

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