Bedford Community Stadium Bell Heard in Tucson, AZ following Football Win!

It was just after 6:30 MST out here in the desert  as I waited anxiously for a call. It's Friday night and in the Wood family that has always meant it's football Friday. This was no typical week though. Jeff , Dad, and the rest of the coaching staff were squaring off with a Ann Arbor Pioneer and I knew  since last Friday's win that this game was simply HUGE! They were undefeated. They were ranked 6th in the state. And they were coming to our house.   

Finally the call came and it was Dad. "Did you win, Did you win" I asked. We scored with 36 seconds to go in the game, We won 28-21. with that he passed me to Jeff who shared in the elation. I could hear and feel the energy in the background and wished to be there. Either way I'm so happy for Jeff, Dad, the coaching staff, and players for reaching out achieving what they believed. Good luck next week Bedford! Keep working hard and Take it one snap at a time.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation in Toledo, Ohio for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.

Rita Ranch Report: Tucson, Arizona Real Estate Activity September 2009

The last 30 days of sales activity in Southeast Tucson is consistent with the rest of the city. Only one home sold for over $200,000. 212,000 to be exact. The first time homebuyer tax credit  has helped considerably by giving $8,000 to buyers and don't look for it to change until November 30th, 2009. Or, perhaps longer if it's extended.

12 of the 21 homes that sold did so in less than 60 days and at 98.42% of asking price. Which is contrary to the popular myth that heavy discounting is necessary to sell your home in todays market.

The other 9 homes required anywhere from 60 to over 120 days to sell and for less. On average these homes sold for $2,250 less or about 1.5% of the purchase price.

9 homes that did sell were either bank owned or a short sale. No surprises here as the last year at least 50% of transactions have a bank involved in Southern Arizona. However, many parts of the country have begun to see this prime inventory drying up.

If there were a couple things a potential home seller can do to improve their odds of a sale it's having a clean, uncluttered home that requires no visible major repairs. Keep in mind most buyers have never owned a home and want to move right in. And if the home requires major repairs this may present may make it harder for them to acquire a loan.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.

Tucson Real Estate: August 2009, Strategic Games Banks are Playing with Short Sales and Foreclosures

The best part of our current market is the learning curve. It's on a vertical plane and new wrinkles emerge each day. And for those of us who have endured the last few years of challenges, 2009 has brought a wave of first time buyers and investors. 

What we didn't see coming was the reality that the banks would control nearly 70% of the inventory for sale. As of late that has posed a strategical opportunity and here's why: Banks are continuing to receive back more foreclosed homes that they need to sell off. They possess literally thousands of homes that would sell in the $125,000-$175,000 range.

Well guess what,  that just happens to be the most active segment of the market by far?

I recently worked with a family that needed an 1800 square foot home with 4 bedrooms for under $145,000. Who in the heck wouldn't want this home. So whenever these types of homes became available there would be  5 buyers ready to make an offer. And, we lost out on at least a half dozen homes because so many buyers want this same deal.

In addition, when there are 5 buyers making an offer on the same home the final selling price ends being higher than the original asking price, thereby minimizing the banks losses. So the question is why would the banks be in any hurry to put all the best inventory they have on the market at the same time?

Answer: They wouldn't. Their sandbagging big time by waiting for the best inventory to sell before bringing more of the good stuff to market. 

Is there anything that says they can't? No, in fact in some ways its good because it creates urgency and causes buyers to act. You see before the market can change direction when it comes to value, it must sell off nearly all the bank owned inventory. Because when the number of homes for sale is less than the number of buyers in the market, you have a beautiful thing which is  greater demand for homes then homes available for sale.  AKA Better demand than Supply. When that happens your homes value goes in one direction. UP! 

We do have about a year and a half to go yet before the banks get anywhere near selling off the majority of this inventory. Months before loan modifications became available,  2009 was expected to pass 2008 as the year with the largest number of foreclosures.  And so far it appears that will happen. My prediction is the tax credit will get extended until late 2010 to keep the momentum going and give the necessary time to the countless buyers waiting to close on short sales that take at least several months to close on.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.

Tax Credit and Short Sales: The Clock is Ticking

If this face isn't enough to extend the tax credit deadline I don't know what is? But we all know it cooommming unless of course we stick to bank owned and normal resales for a bit. Knowing that 1 out of 5 homes under contract are short sales how can Uncle Sam not feel the pressure and get speedy legislation requiring the banks to move faster or else find an alternative to make Jolene Consumer happy. Yes, that may mean the banks need to hire more qualified staff to handle the enormous workload in an efficient manner. I understand they're learning as they go, but it's been nearly 3 years of this so far and little has changed with the big boys.  However, in defense of many smaller lenders the efficiency or turnaround times have improved by leaps and bounds. Heck I've seen and heard some close in 45 days.  

The truth is they can't and shouldn't be avoided if we're fulfilling the ethical standards of our profession. People in this situation need our expertise more than anyone. So, I'll deal with that face as long as I can look at mine in the mirror when the day is done.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.

I recieved a big surprise Wednesday morning when I learned that a home I was reprsenting the seller on appraised for $25,000 less than the contract price. This was the same home we priced $15,000 less than the two best sold comps a couple months earlier. What left me dumbfounded was these same two comps didn't even make it to the appraisal and they were closest in square feet, floorplan , and subdivision quality. What gives?? My biggest challenge is that most appraisers are under the incorrect assumption that they CANNOT have a conversation with the Realtors involved. It's permitted as long as the subject property is not discussed in any way, shape, or form. So why the roadblocks when I try to reach the appraiser and ask a couple simple questions, like why were the two most comparable homes that sold recently left out of your report?  Or, why is the contract price on your report off by $15,000?

My point here is that I've realized that it's my responsiblity to go a step further and help to acquaint the appraiser with the area by putting together an appraiser welcome kit at the subject property, by including items like the comps used to determine selling price and details about all comparable listings and sales in the area. Let's face it they simply don't know the story behind house around the corner that's still for sale and for less money. And we do. We're in a time and place where things must be done that in any other market wouldn't be necessary. Sure, I'm bummed my deal fell apart, but now I know what to do to combat against this in the future. I love the market now because of things like this. The learning curve is on a vertical plane and that's something we don't get to experience enough. 

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.

April 2009 Real Estate Market Report: Southeast Tucson, Arizona

here's just one of the many reasons to live in Southern Arizona.

So, let's talk Real Estate and the numbers for a minute. Compared to last year, the facts and figures are pretty consistent. This report covers Vail, Rita Ranch, Civano, Mesquite Ranch, and Corona De Tucson, Arizona. Each of these large communities and/or subdivisions make up the 85747 and 85641 zip codes.

For the month of April 2009, 52 homes were sold for a total of $12,402,651. Of these sales 16 were bank owned or short sales.( Short sales are when the bank allows a borrower to sell for less than the mortgage balance) That means 31% of the homes sold had a bank involved to sell the home.

This same month last year, or April 2008, 51 homes were sold for $11,905,250. 10 of which banks were involved in the sale to sell.

As of May 4th, 2009 there are 416 homes available for sale, 93 of which are either bank owned or short sales.

From my perspective the tone has changed in the last 45 days. My office is busy, as our the other agents that conduct business there. It's a great sign and goes to show that with excellent selection and terrific pricing coupled with the lowest rates in 5 decades, something is bound to give.

One last stat I wanted to share for anyone selling their home or thinking of selling. Homes that had an accepted contract within the first 30 days of listing it, received 98.31% of asking price. However, homes that had an accepted contract from day 31 through day 60 of being on the market received 94.76% of asking price. Wow! What a difference timing and pricing make.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for nearly 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde

With 38 courses to choose from it's always a challenge to decide where to spend the week playing. For most people visiting from the east where colder temps prevail, you may need a slight tune up before hitting the course. There's no better place in town to prepare your game for some desert golf than Fred Enke. Fred Enke offers one of the best practice areas throughout Tucson. Unless of course you're travelling to the high rent district of Ventana Canyon or The Gallery. Most courses have at least a driving range to get a clue how your hitting it that day with the long clubs, but few offer a wedge range, large chipping and pitching area with a large green and two putting greens to go along with it. The cool thing is, you have awesome views of the Catalina and the Rincon Mountain ranges, too.

As for the course, Fred Enke is one Tucson's Municipal Courses and it's the only one that offers true desert golf. Which simply means, get off the grass and you'll usually find your ball behind or inside some shrub, prickly pear cactus, or desert broom. Whatever it is, it's not a good place to be. In fact, most of locals carry a "desert club" because the desert floor is like hitting a shot off your driveway and that tends to leave a mark or three on your club. Anyhow, this course has several slight dogleg par fours that require good placement off the tee to set up short iron second shots.  The par three's vary in distance, from 115 to 185 yards, each with greens that offer average size targets. As for the par fives, they offer the best green contours on the course. Which makes for some fun putts.

In the vicinity of this course you'll find a few other places of interest. Some parts of the golf course are in viewing distance of the Air Force Boneyard, where thousands of retired military aircraft cover the desert floor. In addition, Fantasy Island, mountain biking trail is within a 1/2 mile of the course, too. This is a single track riding course designed by mountain bikers for mountain bikers. Lastly, the Pima Air and Space Museum is within minutes as well.

Here's a shot of the wedge range, which has three greens that range in distance up to 115 yards. Also, a great place to catch some views of the desert wildlife, like bobcats, roadrunner, ground squirrels, and if you're really lucky a western diamondback rattlesnake.

Tucson Golf Tip: One thing to keep in mind as you play golf in here in the Sonoran Desert is that the city of Tucson is at an elevation of about 2500 feet above sea level. That means you're ball is going to travel farther than normal. How much you ask? About 5% more, or 5 more yards per 100 yards of distance. You can see as you get into your longer clubs, it will make for some club selection decisions.

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for nearly 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde

Tucson, Arizona Real Estate

There's nothing quite like saying one thing a doing another. Yesterday I had the privlidge of taking a class at the Hogan School of Real Estate that dug deep into the roots of Tucson. Anyone, Realtor or not who has any interest in history will enjoy what Alex Kimmelman has to show and tell. So, back to this Restaurant in the photo, what does it have to do with Residential Real Estate History? Well, not only is it the nation's oldest restaurant but it all began in a home. If you ever visit Tucson, pop in for lunch or dinner at El Charro, one of the areas most popular places.

One of the biggest challenges facing home builders  in the early days was the lack of natural resources. There are trees in Southern Arizona, but not of the hardwood variety, like what you would find in the eastern United States. It left the settlers with just the ground they walked on. And that turned out to be an excellent source of material to create adobe bricks, which in turn were used to build adobe homes. 

In 1880, the railroad arrived and with it came lumber to build a home with something other than mud adobe. The railroad broke the poverty of this region for two reasons. First, materials and secondly more people made their way west on trains, which increased population. More people, more homes to build, more jobs, more money to spend. What a concept! 

El Encanto Home, one of many Tucson homes and Neighborhoods on the National Registry of Historic Places

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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for nearly 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde