Troy's Blog

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.

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.  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!

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 - 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 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, 12:57pm PDT

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.

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

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

 

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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.

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