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economy: Woman Shoots Herself Into Mortgage Forgiveness - 10/13/08 04:24 PM
I have decided to label 2008 the Year of Fear. There is so much uncertainty in the economic marketplace, the real estate market and in the employment sector of our economy that a lot of people are either responding in fear or are hesitant about what to do next.
One woman who did not hesitate pulled the trigger on herself. Addie Polk of Akron, Ohio was apparently overwhelmed by the fact that she could not make her payments and was going to be foreclosed on and she shot herself as sheriffs were trying to serve her the foreclosure notice for the 30th time. … (0 comments)
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economy: Tucson AZ Real Estate Market Report - September 2008 - 09/24/08 09:19 PM
Like the rest of the country, the Tucson Real Estate market has taken its share of lumps over the last year or so. However, we have been seeing a reduction in inventory over the past nine months, which is the first step towards a recovery. Will we continue this trend or will national economic woes along with the ongoing foreclosures have an ill effect on our market? Let's look at the numbers.
Note: These numbers are from August 2008 so we do not yet know what effect the current shenanigans on Wall Street will have on our local home buyers and … (1 comments)
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economy: Tucson AZ Real Estate Market Report - August 2008 - 09/04/08 04:27 PM
So how's the market? That seems to be everyone's favorite response when they find out I'm in real estate. I appreciate the question because it means that people want to know from a local expert instead of relying solely on the media for information. The market was kind of blah for the month of July, although I am personally experiencing heightened buyer activity and expect that to be reflected in the numbers in the next two to three months.
Home Sales Volume and Home Sales Units
As usual, I will compare home sales volume and homes sales units by those same … (1 comments)
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economy: Housing Stimulus Bill Signed - July 30, 2008 - 07/30/08 04:14 PM
President George Bush put pen to paper today and signed the Housing and Economic Recovery Act of 2008. There is a lot to this bill, some good and some bad. Here are the highlights: the good, the bad and the hideously ugly...
Conforming Loan Limits
Conforming loan limits were permanently set at $417,000 or 115% of local median home price (with a $625K cap), whichever is greater. For those of us here in Tucson, that means a conforming limit of $417,000. This will allow those needing to borrow money up to that amount to do so at "normal" rates as opposed … (6 comments)
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economy: Tucson AZ Real Estate Market Update - January 2008 - 01/22/08 10:27 AM
We are still hearing some doom and gloom forecasting from the national media, but here and there we are also beginning to hear snippets of positive reporting, especially in our local Tucson area. So what's going on? Are things really turning around? Let's look at the numbers.
Sales Volume
Comparing numbers in December 2007 to December 2006, we see that the number of sales reported through the MLS has decreased dramatically (30%) from one year to the next. This would explain why we hear many Realtors complain of less work available. In fact, many have gotten out of the business due to lack of … (0 comments)
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economy: Slow But Steady - Tucson Real Estate Market Analysis - 01/07/08 11:15 AM
While the national media still reports very bad news for the real estate market, our local Tucson market continues to stabilize slowly but surely. It is still a fantastic time for buyers because our inventory is still so high. However, I predict that within the next 12 months we will see that inventory dwindle and buyers and sellers will be on more equal footing.
The most recently released statistics compare sales in November 2007 with sales in November 2006. There are both good and bad components, naturally. Let's take a look.
The Good News
Comparing to November 2006, we have a slight increase in … (1 comments)
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economy: More Thoughts on the Bush Administration's Rate Freeze Plan - 12/08/07 10:02 PM
A few days ago, I made some comments about the new rate freeze plan based on the details that were out at the time. See Help on the Horizon for Sub-Prime Borrowers? Now that more details are known, I am a lot more skeptical about the positive effect that this plan is supposed to have on our economy.
Voluntary Cooperation
First of all, this is a voluntary plan. I am thankful for that because I believe that the less the government interferes in our lives, the better. However, it makes me wonder why the banks can't just work with people on a one-on-one … (6 comments)
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economy: Help on the Horizon for Sub-Prime Borrowers? - 12/06/07 01:13 AM
The problem with the housing market has certainly reached a crescendo in recent months and has gained the attention of the Bush administration recently. The current suggestion is to put a five-year rate freeze on sub-prime mortgages that are currently being paid on time at introductory rates, but are scheduled to reset in the near future. See the article here: http://biz.yahoo.com/ap/071205/mortgage_crisis.html.
How does this help Homeowners?
This can be beneficial to everyone due to the widespread effect that foreclosures and short sales are having on homeownership and our economy at large. While Tucson has not been as hard hit as places such … (31 comments)
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Robin Willis, Tucson's Expert Agent, Realty Executives
Tucson,
AZ
More about me…
Realty Executives Southern Arizona
Address: 1849 N Kolb Rd, Tucson, AZ, 85715
Office Phone: (520) 886-8282
Cell Phone: (520) 481-3695
Email Me
Tucson, AZ is a varied and exciting community to live in. Whether you are buying or selling a home, it's vital to have someone on your side who has the information pertinent to your area.
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