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time sensitive blogs: 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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time sensitive blogs: 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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time sensitive blogs: Tucson Real Estate Market Report- June 2008 - 06/19/08 02:57 PM
Well, we have reached the dog days of summer, the time each year when I question my sanity for living in this sun scorched city. As I eagerly await the arrival of the monsoons and the cooling temperatures that they bring, I will take a minute to talk about what is going on in the Tucson Real Estate Market. I will compare numbers from May 2008 to May 2007 and will also talk a little bit about the change between the numbers from April 2008 and May 2008. My numbers are obtained from the monthly statistics published by the Tucson Association of … (0 comments)
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time sensitive blogs: Tucson Real Estate Market - Steady Progress May 2008 - 05/19/08 06:42 PM
As we enter the prime homebuying season this year, I see a lot of small improvements in the market but no drastic changes. This is probably a healthier way to recover than suddenly having tons of buyers snapping up properties right and left. That would be exciting, but would actually add to market instability rather than cure it.
I will be comparing the numbers for April 2008 with those of April 2007, but I will also compare April 2008's numbers with those from March 2008 so that you can see how things are changing in the short term as well as the … (2 comments)
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time sensitive blogs: Proposed Rosemont Copper Mine - Scoping Period - 04/22/08 12:40 PM
There are several more hearings and open houses coming up regarding the proposed Rosemont Copper Mine in Vail, Arizona. Here are the dates and locations:
Open Houses
April 22, 2008 6-8 PM at Sahuarita High Schol Cafeteria, 350 W Sahuarita Rd, Sahuarita, AZ
April 23, 2008 6-8 PM at Elgin Elementary School Cafeteria, 293 Upper Elgin Rd, Elgin, AZ
Hearings
May 12, 2008 6-9 PM at Elgin Elementary School Cafeteria, 293 Upper Elgin Rd, Elgin, AZ
June 7, 2008 9 AM - 12 Noon at Sahuarita High School Auditorium, 350 W Sahuarita Rd, Sahuarita, AZ
June 30, 2008 6-9 PM at Rincon … (1 comments)
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time sensitive blogs: Tucson Market Recovery Continues - April 2008 - 04/12/08 04:25 PM
For the last couple of months I have been predicting that the Tucson Real Estate Market is on its way to a recovery. The most recent numbers (March 2008) confirm that we are indeed headed in the right direction. From working in the market, I can also tell you to expect April and May numbers to be even better. On more than one occasion in the past couple of weeks I have seen buyers who waited a few days to put in their offer only to find out the house they were interested in had received an offer from another buyer. Buyers … (2 comments)
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time sensitive blogs: Mining in Vail? - 04/01/08 07:18 PM
There is a proposed copper mine in the Vail, Arizona, area. This mine, Rosemont Copper Mine, has not yet been approved and comments from the public are currently being accepted. The proposed location of the mine is west of Highway 83 in the Santa Rita mountains. There were three public meetings held in rapid succession in mid-March but the public was given less than a week's notice. After public outcry and pressure from Congresswoman Gabrielle Giffords, another meeting has been scheduled for this Saturday (April 5, 2008) in Vail, Arizona.
It will be in the Auditorium at Cienega High School at 12775 … (0 comments)
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time sensitive blogs: Tucson Real Estate Market Report - March 2008 - 03/24/08 08:28 PM
Ever since January of 2008, real estate agents in the Tucson area have been noticing that business is picking up. It turns out that the numbers are now starting to match our experiences out on the streets.
Median Sales Price
You may have noticed in the news recently that the median sales price is down to $199,900. This is a great statistic to make the news, but I personally hate median sales price calculations. It doesn't tell you the average price of homes, but instead reveals which end of the market is the most active. So in recent months, the lower end of … (1 comments)
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time sensitive blogs: 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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time sensitive blogs: Tucson Market Continues to Show Improvements - 11/15/07 11:32 AM
Although we are still hearing doom and gloom in the national media regarding the housing market, locally things are continuing to improve. The Tucson real estate market is still not where it was 2-3 years ago, but it is no longer in a decline either. Homeowners who have seen their values decline over the past year or so can reasonably expect that they will see equity slowly being added to their properties.
Let's compare what happened in October of 2006 to what we have just seen in October of 2007. Here is my analysis of the current Tucson real estate market.
Increase in Pending Contracts
Pending contracts are a very … (2 comments)
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time sensitive blogs: How is the Market Doing? - 10/25/07 05:42 PM
There's a question that we agents are being asked on an almost daily basis. And it is one that is sometimes very difficult to answer. It certainly shouldn't elicit a one-word response. There is a good and bad side to every market and depending on whether the one inquiring is a buyer or seller, they may have different feelings about the information you reveal.
If you ask me, today's market is pretty exciting. We have had some interesting corrections lately and the mortgage industry had a large hiccup (okay, more like a drunken belch). However, for a buyer the market is fantastic, … (1 comments)
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time sensitive blogs: Buyers!! Jump on in - the water is great! - 09/18/07 06:43 PM
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 … (4 comments)
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time sensitive blogs: TUSD starts August 14th - Do you need to move by then? - 07/31/07 01:11 PM
The Vail School District has already started classes, but Tucson Unified School District (TUSD) doesn't start until August 14, 2007. That's a full two weeks away and I am offering to help you get into your new home during that time period. If that sounds overly optimistic, I am currenlty finishing up a deal that is closing in 12 days (including weekend days)! So if you find yourself still needing to move, give me a call - I can help. (520) 481-3695
Here is what we'll do:
1) You must be pre-approved: When you get pre-approved, you need to talk to the loan … (4 comments)
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time sensitive blogs: Buying a Home in a Down Market - 07/07/07 05:58 PM
On its face, buying a home in a down market seems like a piece of cake. You just go in, make an offer and buy a home, right? Well, sometimes it is that easy but not always. We have been seeing headlines like Paulson: Housing 'at or near bottom', which can be very encouraging. If Paulson is correct, then buying a home now would be the perfect time. However, there are buyers who wonder if perhaps waiting a little bit longer would be the best bet, to get the absolute rock bottom price possible. This kind of gamble may pay off, … (0 comments)
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time sensitive blogs: Highway Closure in Tucson from June 15th - June 17th - 06/11/07 07:27 PM
For those of you planning to use I-10 this coming weekend, you should know that a portion of I-10 (Westbound) will be CLOSED. This closure affects the area from the 22nd St exit to the Prince Rd exit. All traffic will be rerouted to frontage road, so expect delays if you are planning to travel in this area. The highway is scheduled to close at 10 PM on Friday (the 15th) and will re-open Sunday (the 17th) at Noon. If you would like more information on this or other planned closures and construction on Arizona roadways, please see the Arizona Department of … (3 comments)
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time sensitive blogs: Want to win $20,000 worth of furniture?? - 05/12/07 05:20 PM
Just a reminder that Coldwell Banker is running a sweepstakes through May 31, 2007. You don't have to buy anything to win. You can Click this link to enter or check out my website, www.TucsonExpertAgent.com. There is a link on my homepage to this sweepstakes.
If you've already entered, thanks. If not, do it now before time runs out!! Good luck.
… (0 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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