Is it a Buyers Market in Tucson?

Overcoming the Top Consumer Challenges in Today's Market

 I have found some great information in how to handle Consumer Challenges in the market place.

Quite often we are faced with the answer  "Just this morning I opened the paper only to read another article that the market has fallen again.  The media is saying it's a bad time to buy."

We can handle this objection by reinforcing all the information that we all have on our hands and we know is area sensitive.

We can educate our Buyers by relaying this information:

Our industry is plagued by negative press and you should keep in mind that reporters are looking for headlines to grab the attention of their reader base.

With this in mind, there are  some interesting trends  making headlines lately that support the fact that now may be the best time to buy. 

Housing Best Time to Buy in Four Years, CNN

Opportunity Knocks in Sinking Housing Market, The Wall Street Journal

Buyers: Should You Wait for the Market Bottom?, MSN Real Estate

Are You Ready for Good News?, The Lompoc Record

Analysts see the light at the end of the Tunnel The Associated Press

Six Signs to Look For in Hopes of a Housing Recovery, RISMedia

As we have continually mentioned before, it is up to us to paint a more positive factual picture of the real estate market where we live. The Real Estate market is localised even within each and every one of our market areas and neighborhoods. Desirability can also change market conditions and also demand.  

However, a more regional picture is not being painted by the media and this can affect markets that are even in the same state as those less troubled.

We all know that sensationalism sells, and that headlines are being over exaggerated compared to out local  market perspective. Even in a down market, there are great deals to be had.

The same old saying  "I am just going to wait and see what happens and get in on the market when it hits rock bottom." 

As an agent we can certainly help our clients with this response.

We can understand the logic, but waiting for the market to bottom may not be the best answer. 

If our buyer intends to stay in their home more than two years, there may not be a better time than now to enter the market for several reasons.

Aa we do our job in Arizona, we look at market conditions by reviewing historical data and this provides an insight into the stability of the Arizona Real Estate Market.

 Our prices  may not have hit their lowest point yet, but they probably they are not far off of it.

 In many Arizona areas, only the actual pace of sales has been affected and prices have held firm and in some cases, have gone up.   

 Use this to show your expertise:

 Too often when you wait for the bottom you will miss it before buying, and get caught in the upswing of the market. For some first-time home buyers, owning makes better economic sense than renting.

When  your client says: " I really like this house but I want to wait and see if the price goes down over the next few weeks adn months.

As an agent we can easily assist our Buyers with this  statement.

We can understand why you would want to do this as you definitely do not want to overpay for the home. However, in many markets we have seen an upswing in the market. 

Overall consumer confidence has been building thanks to demand and  the traditional busy spring season. There has been more positive news coverage, the recently released economic stimulus package,  and also increased conforming loan rates and continued attractive interest rates.   

In many areas, we are seeing that homes that show well and are priced competitively are selling, and occasionally with multiple offers.  Rather than wait, might we might  suggest that we:

 Determine if this is the best house for your needs. 

Is this the first house  or the 10th  house we have looked at. 

Most Buyers are looking for what you are looking for too.

The home will probably sell before the seller lowers the price significantly.

Instead, we could submit an offer in your comfort range and within 3-7% of the list price.

We have done our recent comparisons (within the last three months) and based on comparable homes in this market, we would recommend an offer price between $XXXX and $XXXXX. 

When our client says  "I'd like to move up but it's just not a good time."

We can respond with this information.

We recently came across an article (published online at www.wsj.com on March 16, 2008) in The Wall Street Journal, entitled "Opportunity knocks in sinking housing market" that synopsized the move-up market quite well.  In the article published int he Wall Street Journal, it talks about:  "If you're hankering after a larger home or a house in a better neighborhood, this could be your chance to trade up on the cheap.

"To be sure, when you go to sell your current home, you will likely get a modest price. Since 2006's second quarter, real estate has fallen 10.2 percent, as measured by the S&P/Case-Shiller U.S. National Home Price Index. But your new, grander house will also be relatively inexpensive, so you're effectively cranking up your real-estate exposure when the market is well below its peak.

"In other words, trading up to a larger home or a better neighborhood is really about wanting to consume more real estate.

"Still, like any thrifty shopper, you want to buy when there's a sale -- and that is what today's market offers.

"It's like going from a Honda to a Mercedes," says Charles Farrell, a financial adviser with Denver's Northstar Investment Advisors. "It's a lifestyle choice. As long as it doesn't cut into your ability to accumulate capital for retirement, this is probably a pretty good time to upgrade."

When our Seller says  "I realize prices have gone down but I'd like to start by putting my home on the market for this price and then we can see if there are any nibbles."

Aa their agent we can show our expertise in this area and answer.

There is not market to test your price. The key to being successful in today's Real Estate Market is to set your price appropriately and competitively based on the current market conditions. 

 Buyers do know value when they see it, and it is our job need to create value in today's market.

On the whole, ‘Drip reductions' are not successful in the long term. 

The logic is that once Buyers see that you have reduced your price, they will view you as a Seller who is ‘desperate' and will want a bigger bargain on your home.

We will only evaluate the comps over the last three months. Six months is way too long of an indicator at this time in the marketplace.

We recommend that in order for you to be a successful Seller, that we review the comps and then price your home as low as we can to generate interest and stand out amongst the pack.

We will re evaluate in three to four weeks,  and then see if we need to seriously consider a substantial reduction.  Our recommendation is that we don't wait until we get to that point.  Many Sellers in today's market who price their home competitively are seeing success in selling their home with either multiple offers or a quick sale. So we would advise you not  to wait until a necessary price reduction.

When our Seller says  "We've lost a lot of the equity in our home.  We need you to take a cut on your commission so we can sell it." 

As an agent we do work to make money for our family and not for free. 

Our fee is 3% and that is what our services are worth.  It covers all of the fees and services necessary to get your home sold.   

Our extensive marketing plan includes:

Prominent online exposure

Our broad base of internet websites

Our Power Positioning

Our Extensive Networking

Our blog and individual web presence.

Our  recommendation in today's market is for you to offer a Selling Agent commission of 3% or even a little more to attract a largest pool of Agents representing Buyers.

I hope this helps you in assisting your Buyers and  Sellers in the current marketplace, not only to position themselves for an offer as a Buyer, but also as a Seller's agent.

We owe it to our clients to keep them well informed.

The Phoenix Mars Mission Project at the University of Arizona

The University of Arizona on the map with  the Phoenix Mars Mission Project

Phoenix Lander Courtesy of the University of Arizona

The Phoenix Mars Mission Landing marks an important landmark for the Universitiy, as it is the first public University project to lead a mission to Mars. It is scheduled to land on the 25th of May 2008 and is the first Scout in the NASA program. Scouts are designed to be relatively inexpenisve and also highly innovative.

The University is hosting a Mars Landing Mission Celebration at the Kuiper Space Sciences Building, the Sonett Space Sciences Building, the Flandrau and also The UA Science Center. 

The Event will start at 3pm and end at 8pm on the 25th of May 2008, and looks to be an interesting day full of activities for all ages.

There will be childrens activities,live Feed from NASA/JPL, commentary by UA scientists and engineers, and a MarsQuest planetarium show,  Tours of the Space Imagery Center, Mars & Solar viewing and also a Physics Factory will also take place.

For those of you that have not visited the U of A Flandrau Center, it is definitely worth a visit and we will be going with our family.

Ror those if us with a sweet tooth, they will also have cake and balloons!!

Rancho Sahuarita Short Sale

Rancho Sahuarita Short Sale is a great opportunity

Enjoy the Facilities of Rancho Sahuarita the Masterplanned Community rated as one of the best in the  Western United States.

With a State of the Art Fitness Center, an Olympic size Swimming pool, a kids swim play area, tennis, basketball courts,  an outside auditorium,  and a large lake in the Community, it makes Rancho Sahuarita the place to live.

This newer large home is located within the Community on a quiet cul-de-sac lot.

It is a short sale, subject to court or lender approval as provides you a great opportunity to live in this fine community. It has four bedrooms and three baths, and has over 1800 square ft of living space,was built in 2005, and is priced at $165,000.

There are short sales in and around the Tucson area at the moment, and this home is priced under recent sales in the Community and for a quick sale.

Tucson's Pizza Restaurant...the newest and greatest

Tucson's newest Pizza Restaurant serves great Pizza.

Ok I Have to admit that we love to eat Pizza like to rest of you.

Eddei discovered this great restaurant a few months ago.

It is called Pizzaz Pizza Bistro.

For all of you looking for more authentic food....the mozzarella is home made,  the pesto is home made, and  so is the bread dough for the pizza...... then you have arrived home.

The restaurant does not only serve pizza, but also pasta, and offers a Happy hour on Appetizers and drinks between 3 and 6 pm. The take out Pizza is only $9.95 and far more tasty than the local chain restaurants in our opinion.

It is located in the shopping Plaza at Prince and Campbell and the service is friendly.

If you happen to stop by this new Tucson Restaurant, then give us a call we would love to join you !

Anne and Eddie

Home for Sale in the Villages of La Canada

Oro valley Immaculate Home

1080 Possum Creek Lane, Oro Valley, 85737 View Map

Oro Valley Beauty abound in this home with attention to detail at every turn. Beautiful condition with new fixtures, flooring and paint. This 4 bedroom, 3 bath home offers an elevated lot, master balcony and a private yard backing to natural desert. Family room fireplace, tile floors, oversized garage and french doors leading to a flagstone patio makes you feel right at home

Details

Asking Price:

299,900

MLS:

20816373

Sq. Feet:

2105

Lot Size:

0.2

Bedrooms:

4

Bathrooms:

3

# of Floors:

2

HOA/Maintenance Fees:

68

Garage Size:

2

Subdivision:

The Villages of La Canada

Year Built:

1994

Property Amenities

- Range/Oven
- Sink Disposal
- Trash Compactor
- Dishwasher

- Fireplace
- Vaulted Ceilings
- Balcony
- Central A/C

- Central Heat
- Tile floor
- Family room
- Laundry area - inside

Community Amenities

- Garage Parking

- Gated property

Contact Info

Anne and Eddie McKechnie
Realtors Consultants

Cell (520)990-5268
Dir (520)529-7507
Email | Website

Tucson New Homes are very affordable

Tucson new homes affordable for the first time Home Buyer or for those looking for a deal

Tucson new homes continue to be a bargain in and around the Tucson area as many  builders  are giving great stimulus deals to move their current  spec home inventory.

I just received this great email about current interest rates that are being given by Lennar Homes.

The first year they are giving a 2.88% rate for one year,

The rate then rises to 3.88% in year two, and then settles and fixes at 4.88%  at year three.

Who said that home ownership was impossible...with rates like this and current FHA guidelines, who could afford not to buy a home.

Many people say they are waiting for the market to drop.......a national statistic...most people will miss the so called bottom as we won't know we are there until it has passed.

Tucson is still on the map as one of  the top retirement cities in the US, and our market has faired better than many other parts of the country.

Many Canadians are buying because of the dollar conversion, and realize the deal that they are getting in our current market. 

If you can borrow money at these great rates, then I would encourage Americans to buy a new home in the Tucson area and market, and/or in other parts of the country if the same stimulus rates are there........ there are great deals to be had.

New Homes Sale Opportunities in Tucson

Are you taking advantage of selling the New Homes in your area?

While many people are focusing their sales effort on Foreclosures and Short Sales, how many agents are actually taking advantage of selling the great deals that can be had right now in the new home industry.

When you market a residential resale home, the home can stay on the market for a significantly longer time in the current market, and then the Seller can also take the house off the market.

However a builder has to move their new home inventory, and  they are pricing them for sale with great incentives, and low interest rates to use their lender. They are also giving agents great incentives, and we have seen up to 8 percent to sell current inventory homes.

We sell many new homes to local and out of state buyers, and portraying yourself as a new home specialist in the current market place makes sense. We send out a weekly list of incentives to our subscribers, and have sold many homes from the advertising.

If you are not already doing it, then incorporate this strategy in your current marketing for a win win scenario.

You will be helping your buyer get a great deal.

Builder with incentives in our Tucson market include Miramonte Homes, Lennar homes, Pulte Homes, Richmond American, Dr Horton, Meritage Homes, and may others

Arizona International Film Festival back in town

The Arizona Film Festival is back in town throught the 27th of April

The Arizona International Film Festival is back in town and will commence this Friday at the Screening Rom with Father G and the Homeboys. The Festival will pack more than 90 films from over 14 countries to the Festival and it will take control of Tucson's indie film scene.

The Festival will take place at various locations around town to include the Screening Room, the Tucson Chinese Cultural Center, Crossroads, The Hotel Congress, and The Loft at Cinema La Placita amongst others.

Multi-screening admission passes are available starting at $40 to $150.

Individual screenings are $6-$10. the official site filmfestivalarizona.com. gives a detailed schedule of film and events. 

The following are addresses for the Film Festival sites:

The Screening Room, 127 E. Congress St.

Crossroads, 4811 E. Grant Road

Fox Tucson Theatre, 17 West Congress St.

The Festival will open with Father G and the Homeboys  this Friday at 8pm April the 18th at the Screening Room.

The film details the efforts of Father Greg Boyle in directing gangbangers living in Boyle Heights. It is a socially conscious documentary that addresses the real life challenges of inner city living.

The filmmakers John Bohm and Pete Tapia will introduce the film to the public.

You can visit http://www.fathergandthehomeboysmovie.com/ for more information.

Please come and enjoy supporting the Arizona International Film Festival this weekend in Tucson Arizona.

Mountain Lions in and around Tucson

Tucson Mountain Lion sighting on the Ventana Canyon Trailhead

Recently a hiker saw a mountain lion on the Ventana Canyon Trailhead. He apparently thought that it was a golden retriever until he came closer to the animal!

The lion stopped around  40 feet away from the hiker, and he banged his walking stick on rocks. The Lion did however not appear to be scared but laid down and watched him. He said that it acted more like a dog than a wild animal. He hiked back to the trailhead, when the mountain lion walked into the brush.

Mountain lions are a part of urban life around Tucson where our city borders wildlands in Arizona. In fact I saw one in our front yard just about a month ago!

More recent sightings that have been confirmed by wildlife officials said that the mountain lions have not behaved aggressively, but wildlife officials have been monitoring the area to ensure that none have lost their fear of humans and become a threat.

In 2004 a female lion was shot after it confronted hikers including an 8 year old boy on the same trail.

Fish and wildlife Officers  were concerned at the time that the animal had shown no fear, and it was unusually active in daylight and stalked the hikers.

However with all that said, mountain lion attacks are extremely rare, and even where cities and suburbs like Tucson have grown deep into the prime lion habitat, most people never know they are around.

Saguaro National Park east of Tucson closed some hiking trails due to lion activity, and also state wildlife officials have alerted people about some sightings in areas the Northeast  along Tanque Verde Creek.

Some mountain lions are collars and they are tracked for their activity.

The Mountain Lions that are being tracked around Tucson seem to spend less time in urban areas than those that are being tracked around Prescott.

Tucson Real Estate Market News Report

Spring is here and we are all reminded why we live in the Desert Southwest. How beautiful it is right now!

Here are the  latest Tucson Real Estate trends for the month of March 2008.
National trends adn media  talk about real estate in general terms, and it is always good to take this in context. As you know Real Estate statistcs are Local and not National, and that consumers should consult a local area Realtor who can help  them with local sales statistics in your area of the country. 
Sales statistics definitely vary from neighborhood to neighborhood in a community  especially in Tucson.

March of 2008 has fallen right in line with our annual Tucson real estate trend where we usually start to see activity and the real estate market picks up. The Tucson Home Sales Sales Snapshot continues to show the market is down from 2007, and however while that is not "new news", the statistics from Februaury 2008 to March 2008 indicate that we are experiencing a recovery phase.

As you can see by our stats, our market is starting to turn the corner in a small but positive way.

Many people are out there asking about the "bottom of the market."

However, sometimes the bottom is hard to predict ...we do not know when we are in it until things start to turn around. We can used predictors that will help us be more successful. Many economists believe that Tucson is very close to its bottom, and it may have passed that point . Also that the in second half of this year, we will see stronger sales.
As lenders are tightening up their loan criteria, and if you are looking for great interest rates, a good selection of homes on the market, then now is a great time to buy a home in Tucson ranked by CNN Money last month as one of the top 7 retirement ciites in the US.

2008 IS the time to buy a Tucson home!

2/08 $186,129,758

3/08 $233,207,940

Average Sales Price: Decreased 1.15%

2/08 $262,155

3/08 $259,120

Pending Contracts: Increased 30.67%

2/08 1,079

3/08 1,410

Active Listings: Decreased 1.59%

2/08 9,168

3/08 9,022

New Listings: Increased 0.49%

2/08 2,432

3/08 2,444

Home Sales Units: Increased: 26.76%

2/08 710

3/08 900

Median Sales Price: Increased 0.05%

2/08 $199,900

3/08 $200,000