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Tucson, AZ Real Estate News

By Valorie Bradley
(Long Realty)
Tucson homes sales are down significantly this month, and the story made national headlines in USA Today. The article, "Housing likely to continue to flail" reported that existing home sales nationwide fell to the lowest point in five years during August. The National Association of Realtors reported that sales for September are expected to fall even lower due in large part to the "mortgage meltdown".A study done by Re/Max International analyzed home sales in five major cities, with Tucson being one of them. The results found that Tucson home sales for the first three weeks of September are down about 44%. Investigating on my own, I researched home sales from Sept. 1 through Sept. 29 for 2007 and 2006. When comparing current numbers to those of last September I found that Single Family ...
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
I do not like doom and gloom, however, reality is reality and honesty is the best policy. If September’s first 20 days of real estate sales in greater Tucson is an indication of the full month, sales will be much lower than anticipated. By August 20th there were 592 recorded sales in the MLS. The September 20th number is considerably lower at 385. Watching the number of homes coming on the market the months of inventory are climbing again. As of the time of this writing, we are looking at 9,924 homes for sale in and around greater Tucson. Of those 9,900 there are 786 under contract with an additional 549 pending sale. Looking at the total sales for August, September may be hard pressed to see 1,000 sales. Not what I or anyone wants to hear. September traditionally sees approximately 20...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-25-2007 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 Listings183  Back on Market12  Price Increases17  Price Reductions132  Contingents68  Pendings25  Solds38  Expireds24  Inactives79  
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
Without critical food supplies in store before Arctic winter cuts off contact, the lives of 200 Canadian workers could have been jeopardized as an unintended consequence of the subprime debacle in the credit markets.   Baffinland Iron Mines Corp. sends annual supplies during the warmer months of the year by the route shown on the right.  They pay for these with lines of credit.  Those lines of credit dried up last week. Bloomberg's Rob Delaney in Toronto explained it this way:  "Sept. 25 (Bloomberg) -- Baffinland ran short of funds to pay for food, fuel and drilling equipment after investing in commercial paper that borrowers couldn't repay. Without the money, the company had to arrange an emergency line of credit before shipping lanes froze over. `We have 200 people to keep alive,' Ch...
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Dell Urich is a parkland tree-lined courses with relatively flat fairways and big undulating greens. Located in the heart of Tucson. Sharing the complex with Randolph North Golf Course, which I already wrote about. This course has parallel fairways that are as forgiving as the sister course to the north.  Its an easy course to walk and take in some of the views of the city and mountains that surround Tucson. Leave the cart at the pro shop. The first hole is a 347 yard Par. A slight dip down early fairway and back up to a decent sized fairway leading to a complimentary green. Hit a solid tee shot about 249 yards and your between the mound on the left and the one on the right ready to be on in two looking for a birdie. A great way to start 18 holes Read the rest of this entry »
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-24-2007 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 Listings142  Back on Market15  Price Increases16  Price Reductions122  Contingents49  Pendings18  Solds28  Expireds25  Inactives37  
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By Valorie Bradley
(Long Realty)
The Arizona Daily Star recently reported that Tucson traffic congestion is growing incredibly fast compared to other urban cities of similar size. I will agree that it's increased, but the difference is not that noticeable to me. Living in Tucson for over 15 years has taught me that Tucson traffic comes in cycles. Summertime is slow,  when university students head home on break and snowbirds head home to avoid the extreme heat. During the Fall, Winter and early Spring months the traffic picks up as students are back in school and seasonal residents have moved back for the great weather. In fact, the majority of my clients have chosen Tucson because of the "lack" of traffic.Tucson is very spread out, so it can take some time to get where you're going. Traveling from the NW corner to the ...
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By Valorie Bradley
(Long Realty)
Hi Everyone!I just wanted to let you know I've  got a great little tool on my website called the Neighborhood Locator, and it allows you to learn about the different areas of Tucson by rolling your mouse over a city map. In each area I've got a description of Tucson attractions, a slide show of the area and home search links to popular neighborhoods in each area. So far my out of state clients have found it really useful in learning about the Tucson and it's surrounding communities. Check it out at my site at www.valoriebradley.com  . If you've got any feedback I'd appreciate it!
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Join Jim and Linda Livengood in helping lots of children have a good Christmas while enjoying a round of golf. As the eighth annual tournament, this promises to be more fun than previous tournaments. The previous seven years saw players enjoy the Forty Niners Golf Course, San Ignacio Golf course, and for the past five years the Arizona National Golf Course; home of the Wildcat Men and Women’s golf teams. Teams with famous alumni like Ana Sorenstein, Jim Furyk, and Lorena Ochoa. Enjoy the challenge of one of Tucson’s greatest mountain courses. Enjoy the spectacular views of the valley before you. If you have never played this course, you are in for a thrill. Feel proud when you contribute to help the US Marines in their Toys For Tots fund drive. What a good way to head into the holiday ...
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By Marsee Wilhems
(RE/MAX Majestic)
A terrific territorial home situated on a one acre lot. Majestic mountain views, sparkling swimming pool in private back yard w/full covered patio. Remodeled master bath. Very quiet neighborhood. A definite must see in NE Tucson. One of Bear Canyons finest properties. For more details and CURRENT pricing call 520-885-9000
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-21-2007 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 Listings168  Back on Market21  Price Increases18  Price Reductions126  Contingents38  Pendings35  Solds48  Expireds43  Inactives56  
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By Lexa R. Montierth, Real Estate Sales Agent and Marketer
(NextHome Complete Realty)
Before the summer monsoons hit Tucson every year, Arizonans wait in anticipation. The humidity slightly rises, but so does the heat. It will usually it gets a little windy, and we get some scattered showers. But we know that there are three things that must happen every year to officially welcome the Summer Monsoon Season. The humidity must rise, and be above 60% three days in a row. Temperatures must also rise as the heat drives in the clouds. And the winds from the south must bring up the clouds and storm. It's a beautiful science and it happens every year. Everything gears up, the conditions present themselves and we have ourselves "The Perfect Storm." Arizona gets tremendous amounts of rainfall that our desert so desperately needs, the frogs come croaking out of the ground, and the ...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-19-2007 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 Market21  Price Increases11  Price Reductions143  Contingents59  Pendings33  Solds40  Expireds23  Inactives86  
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By Robin Willis, CDPE, SRES, Associate Broker
(eXp Realty)
Economic woes and a cooling real estate market have created the perfect situation for those interested in investing in real estate.  Why?  There are actually several factors contributing to the opportunity available now.Note that for this discussion, I will be referring only to the Tucson real estate market.  While markets around the United States have been affected in a similar way, I am an expert in my local market and therefore speak only for what is happening here.  After a heated market for several years, the past 18-24 months have provided not only a correction in prices, but a rising inventory as sellers compete for buyers.1) New home construction has added to the melee by having produced so many houses that the entire market is flooded with inventory.  As owners move to their ne...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-18-2007 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 Listings115  Back on Market12  Price Increases5  Price Reductions103  Contingents48  Pendings22  Solds24  Expireds19  Inactives56  
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By Tucson Real Estate Experts Anne McKechnie, Previews Property Specialist
(Coldwell Banker Residential Brokerage)
In light of the recent news about the market in general, I thought I would put my two cents worth into the debate as far as the Tucson Arizona Real Estate market.We have been as busy as last year and the year before in the amount of real estate sales that we as a team  have seen. There has been more price negotiation for Buyers, and also more realistic pricing for the Sellers of homes in the Tucson, Oro valley and Vail areas. If houses are priced right, they are selling. We are finding that Staging is helping in selling homes that require some help.However, the latest stats show that our market has faired better than most. If you have Buyers moving to the area, you can let them know that there is more selection and that they can get a home for a good price.
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By Douglas Trudeau, MBA, Assoc. Broker, Selling Tucson Real Estate
(Tierra Antigua Realty)
Tucson Association of Realtors released their official report for August 2007. Reported home sales were much slower than I anticipated with an official number of 1,019. I checked this morning and the adjusted sales were 1,030. I adjusted my projection at the beginning of the month to between 1,100 to 1,150 from the 1,250 I predicted a year ago. What happened, I’ll cover in the summary. What remains true are the sales in the Northwest and Central Tucson. These areas continue to lead the pack respectively.What I am glad about is the fact that we don’t have 15 months of inventory like some cities in Florida. We don’t have nearly the inventory of Phoenix, which is mind boggling when comparing to Tucson. The number of Pending Sales for August the TARMLS reports 1,019 sales. The news of coll...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
An intrinsic value of holding title to Real Estate is that one owns the sky above it. Spectacular cloud formations move into the Southwest as the June sun heats the desert floor.  I like to think that the towering clouds drive before them flocks of the Lesser Hardy Snowbirds.  They seem to leave en masse.  One day they're there, chattering like magpies about cabins, and lakes to the north.  The next, they're gone! This seasonal migration provides a necessary period of tranquillity for Tucsonans.  True desert denizens, we settle in to enjoy one of the true delights of desert living--the summer monsoons.  I'm no economist, but I'm a firm believer that the economic value of our real estate is enhanced by dramatic summer skies.  Who wouldn't pay a premium to own, even for a moment, gems lik...
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By Marsee Wilhems
(RE/MAX Majestic)
Here is the 24 hour report for 9-13-2007 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 Listings145  Back on Market11  Price Increases18  Price Reductions164  Contingents33  Pendings31  Solds35  Expireds36  Inactives57  
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
Yesterday, I fulfilled a promise to a client and his family.  I helped them pack a U-Haul to move to their new home.  I really didn't have the time.  Honest I didn't!  My To Do list for Tuesday looked like this:5 a.m. Drop Darlin' at airport to see family      (I'll join her for a vacation next week)7 a.m. BNI Breakfast8:30 a.m.   Office.  Docs to Title?  (Offshore closing, foreign national)8:45 a.m. Check w/Title.  Docs received by email. Check!     Call, reassure REALTOR     FUP Title.  Make sure docs emailed to Venezuela.     FUP REALTOR10:00 a.m. Help Dale & Melissa pack the truck     Take clean set of clothes.  Shower & get back to office by 2:30 p.m.Afternoon To Do:     FUP Appraiser     Meet w/Controller re P&L     Finish HONESTY blog for Active Rain contest.     PCLA  (Previous ...
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