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Tucson, AZ Real Estate News

By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-18-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings140  Back on Market11  Price Increases13  Price Reductions106  Contingents30  Pendings35  Solds37  Expireds20  Inactives56  
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By Robin Willis, CDPE, SRES, Associate Broker
(eXp Realty)
The term "short sale" has been tossed around in today's real estate world recently with growing frequency.  It takes its place among other frequently-heard terms such as "foreclosure", "mortgage meltdown" and "slowing sales."  While these terms may not bode well for the home seller as they represent higher inventory, for the buyer they can be a sign of a fabulous investment opportunity.The short sale offers a unique opportunity for the right buyer.  The question is: Are you that buyer?Are you patient?Short sales take time and involve a degree of uncertaintly for an extended amount of time.  Because the bank is accepting less money than what the borrower owes, they are involved in the decision making process, many times moreso than the sellers themselves.  Once you put in an offer on a s...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
Fannie Mae guideline changes in the last 24 months have made it more difficult to refinance manufactured homes.  They have not made it impossible.  Call me. In order to qualify for a conventional loan on a manufactured home, here's what you need to keep in mind: The home has to be a double-wide at minimum.  Singlewides and singlewides with site-built additions are no longer eligible for conventional loans.  The home must have been manufactured after 1976.  There's some dispute about the actual date requirement.  Countrywide's guidelines say that the home must have been manufactured after 1975.  The underwriter, however, said the guides are wrong.  We were just denied a loan through Countrywide on this issue.  If you're 1976 or newer, no problem. The maximum amount you can cash out on a ...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
Summer's gone, and the snowbirds are coming back.  The Interstate 10 widening project that began this summer is right on track, and maybe a little ahead of schedule. Maybe it's me, but the predictions about a deleterious effect on commerce in this town of more than a million seem to have been overblown. I drive up Starr Pass on the way home most nights.  It's the 22nd street intersection with the Interstate, where the closed-for-the-duration section of I-10 begins.  People have learned to adjust. What Tucsonans call rush hour traffic would be considered a blessing in most cities our size on the east coast.  That's true even with all the exits between 22nd Street and Prince completely blocked off, and the two-lane corridors reduced to a combined width of 22 feet. At the inception of the ...
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By Valorie Bradley
(Long Realty)
Tucson September Real Estate Statistics Tucson's September real estate statistics were FINALLY released yesterday and the numbers look promising. The average sales price is up from the previous month, but pending contracts and active listings are down from August's numbers. Here's the low down, I'm keeping it brief so if you'd like the full stats check out the link at the bottom....Tucson's average sales price is on the rise! September 2007's average sales price was $279,025, a 2% increase over August's average price of $273,932                                                       Tucson Average Sales Price through September 2007  - There were 989 Pending contracts in September, down about 3.5% from August's number of 1,024. Still September 2007 did see a 32% increase in Pending contra...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-17-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/ 24-Hour Market WatchNew Listings137  Back on Market12  Price Increases12  Price Reductions128  Contingents33  Pendings35  Solds34  Expireds40  Inactives43  
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Tucson Association of Realtors has finally finished their report. I am inclined to agree with Dave Smith that TARMLS should be able to get this information our much faster. I like Dave’s perspective on the market, particularly in the northwest. I tend to take a slightly different, yet similar view. As I reported earlier this month, sales have drifted down to near 1996 statistics. With only 683 reported home sales through the MLS the number of sales are dramatically low. Drama that is filled with emotion. Borrowing words of the renowned “Grave Dancer” Sam Zell, “It’s a confidence crunch, not a credit crunch…” that has lead to the current conditions in real estate. Now, this is a man who makes billions of dollars following housing bubbles. What is he seeing to make billion$ that millions ...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-16-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings143  Back on Market12  Price Increases11  Price Reductions135  Contingents30  Pendings44  Solds40  Expireds44  Inactives84  
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Ask any Realtor in the Tucson real estate market what buyers expect and you will likely hear one common answer, “Satisfaction.” Satisfaction is a fairly general term. What does satisfaction mean. Two years ago satisfaction meant getting the home that buyers were bidding for without someone else out bidding them. It was not uncommon in the Tucson real estate market at that time to have multiple offers on a home within hours after it went on the market. What it inevitably lead to was some buyers paying more than their home is worth today. The tide as turned and buyers have redefined satisfaction. Read the rest of this entry »
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-12-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/ 24-Hour Market WatchNew Listings146  Back on Market6  Price Increases6  Price Reductions137  Contingents37  Pendings25  Solds36  Expireds30  Inactives45  
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Hilton El Conquistador the Conquistador Course is a 6,801 yard par 71 course with a 72.7 rating and slope of 126. Located in Oro Valley, this is one of two course you can play from the country club. The other course is the Canada course. The Conquistador course is Tucson Association of Realtors holds their annual Habitat for Humanity Golf tournament. This year it will be on November 9th. Last year several thousand dollars was raised to apply toward building a home for a needy family. Step up to the first tee at the Conquistador and you will be looking at a 382 yard par 4. You step to the tee with your driver, then decide on a three metal. You find yourself 220 yards out, shy of the bunker awaiting your ball at 241 yards out. With a mere 131 yards to go a nice short iron shot and on the...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-11-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings160  Back on Market14  Price Increases11  Price Reductions120  Contingents48  Pendings23  Solds33  Expireds26  Inactives72  
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
There is so much real estate available in Tucson, it is hard to decide whether to buy a resale home or buy a new home. Now that I have joined new home sales, I have thought a lot about the benefits. The first is for me, the view from my desk is spectacular. As I look out the window I see the beauty of the Sonoran desert surrounding the neighborhood. There are hundreds of mature Saguaro cacti along the mountain side here. New home construction allows you as the buyer to make choices you cannot make with a resale home. Thinks like color of tile, how much tile, kitchen and bath cabinets, appliance color, lighting fixtures, extending or not extending the garage, and a ton of more options. Read More 
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-10-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings197  Back on Market15  Price Increases12  Price Reductions117  Contingents35  Pendings44  Solds35  Expireds33  Inactives77  
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By Valorie Bradley
(Long Realty)
Though it's not in the forefront of our minds most of the time, trust is one of the most significant aspects of any relationship. It starts when we're young, when we trust our parents to love and take care of us. As we become independent teenagers the roles are reversed, and our parents trust us to make wise decisions. In our relationships, whether personal or professional, trust impacts every decision we make and every emotion we feel. And though it's not something we consciously think about when buying a home, trust plays a very central role in every real estate transaction. Trust and real estate are rarely discussed but often implied. That's why I felt the need to bring up the two. In this blog I'll discuss trust and the home buyer; trust and the home seller will be a future entry. T...
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By Robin Willis, CDPE, SRES, Associate Broker
(eXp Realty)
Although open houses are typically thought of as a way to find a new home, it can also be a way to find a good agent.  If you have some time on a Saturday or Sunday, visit a few open houses and take some time to "interview" a few agents.  In such a relaxed atmosphere, it is a great opportunity to find an agent that you can connect with.  You can also determine if the agent listens to your needs/desires or is just there to encourage you to buy that particular house that he/she is holding open.Here are a few tips to help you make your decision:Talk to the Agent about the Market in the Area of the Open HouseThis will help you determine whether the agent is familiar with the area or not.  Typically, agents hold open houses in the areas that they work the most.  However, there are occasions ...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
October 10, 2007.  Here's a snapshot of our local market in Tucson, AZ, courtesy of the Tucson Association of REALTORS Multiple Listing Service.  Absent any other data, you might not draw any meaningful conclusions.  But other data is available to my readers. I used Marsee Wilhems' blog history on Active Rain to look at the same data set at approximately one month intervals, going back six months.  (Marsee is one of Tucson's top producing REALTORS.  She posts data and listings on her blog daily.) I won't bore you with charts, but here's what I found: The number of new listings is holding relatively steady.The number of price reductions climbed from May to September, and appears to be slowing in October.Contingents and Pendings are down in the past two months by more than 20% of the ave...
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
I see a lot of searches on my site looking for “Housing market predictions.” Buyers want to know what the future holds, as do sellers. The Tucson real estate market was fairly predictable up until July of 2007. Then the market changed. Not that there weren’t enough homes to choose from. Not that there weren’t enough buyers looking. The fence post market is doing better than ever. There are a lot of buyers sitting on them not willing to budge. To understand predictions, it is best to understand the history or real estate sales in Tucson. Read the rest of this entry »
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-09-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings159  Back on Market12  Price Increases10  Price Reductions146  Contingents45  Pendings22  Solds31  Expireds18  Inactives57  
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 10-08-2007 activity in the Tucson Real Estate market according to the Tucson MLS.This information is provided directly from our local MLS. Please feel free to check back often for the most accurate and updated information available in the Tucson area for local real estate reports and statistics.For more free reports and Tucson Real Estate visit http://www.wiselisting.com/24-Hour Market WatchNew Listings139  Back on Market12  Price Increases12  Price Reductions138  Contingents42  Pendings19  Solds28  Expireds33  Inactives
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