Michael's Blog - Tucson, AZ and Surrounding Areas

Northwest Tucson Growth Slows

Fri, 16 Jan 2009 09:32:46 -0600

With the recent downturn of the economy Northwest Tucson has been especially hard hit. Here's a bullet summary of projects in flux:

The development of Saguaro Springs is in a state of flux (read more about that here)
Gladden Farms, a master-planned community in Marana, has ground to a halt and a planned Fry's shopping center has yet to break ground. The lender has filed a notice of trustee's sale but Marana developers are confident they can find another lender and continue development. (read more about Gladden Farms status here)
The Marana floodplain issue has yet to be put to rest but Marana town officials assure the community that FEMA appears to have rescinded their original decision to place most of Marana in a floodplain and instead will issue revised maps showing only part of Marana in a floodplain. (read more about Marana floodplain issue here)
Red Rock Village, a master-planned community being developed by Pulte homes thirty miles of NW Tucson, has also been hit by the housing crisis. Originally slated to consist of 4,000, slackened demand has been apparent. Just last week I received an email stating that a ~1200sqft floorplan had a $99,999 base price!
Marana Spectrum, a 1.3 million square foot "power center" planned just east of I-10 and Camino de Manana, was planned to open in 2010 to coincide with the completion of the I-10 widening effort and the development and opening of the Twin Peaks / Camino de Manana I-10 interchange (which doesn't currently exist). I saw construction start on the new freeway exit last month and it appears to be continuing, but I haven't seen much work done yet on the Marana Spectrum site.

I hope these projects can continue and help bust us out of our funk. The Twin Peaks interchange will be especially helpful to Dove Mountain residents who have to trek all the way over to I-10 for freeway access.

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Michael Krotchie - Realtor®
Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100 Tucson, AZ 85704
520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax

http://www.michaelkrotchie.com

Rancho Sahuarita MLS Report - September 2008

Tue, 07 Oct 2008 10:00:51 -0500

Below are the market statistics for Rancho del Lago for September 2008 as provided by the Tucson Association of Realtors:

Below are the market statistics for Rancho Sahuarita for September 2008 as provided by the Tucson Association of Realtors:

Active Listings:		91
New Listings:		31
Active Contingent:		27
Active Capa:		5
Pending:		12
Sold:		34
Expired:		6
Withdrawn Released:		5

Rancho Sahuarita continues to clear stagnant inventory and prices are continuing to normalize, but at a much slower rate.

With 31 new listings and 91 active listings Rancho Sahuarita continues to be an attractive draw to many homebuyers especially those who work for nearby employers (Raytheon, Tucson International Airport, Davis-Monthan AFB). Homes averaged a selling price of $99/SqFt for September and an average size of 2165 SqFt.

Keep in mind, a few of the "New Listings" are price reductions that were enacted this month. Prices in Rancho Sahuarita are extremely competitive and new home builders are offering some very attractive incentives to buy new.

If you are interested in homes in Rancho Sahuarita or the surrounding community feel free to contact me!

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Michael Krotchie - Realtor®
Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100
Tucson, AZ 85704

520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax
http://www.michaelkrotchie.com

Rancho del Lago MLS report - September 2008

Tue, 07 Oct 2008 09:31:31 -0500

Below are the market statistics for Rancho del Lago for September 2008 as provided by the Tucson Association of Realtors:

Active Listings:		84
New Listings:		18
Active Contingent:		10
Active Capa:		1
Pending:		4
Sold:		8
Expired:		3
Withdrawn Released:		8

Rancho del Lago continues to clear stagnant inventory and prices are continuing to normalize, but at a much slower rate.

    With 18 new listings and 84 active listings Rancho del Lago continues to be an attractive draw to many homebuyers especially those who work for nearby employers (Raytheon, IBM, Tucson International Airport, Davis-Monthan AFB).

   Keep in mind, a few of the "New Listings" are price reductions that were enacted this month.  Several of the Active Contingent listings and Sold listings are foreclosures and or short sales and prices appear to be stabilizing from the activity of the past several months.

   K. Hovnanian continues to sell new homes with very competitive pricing which is also contributing to a slight price decline.

   If you are interested in homes in Rancho del Lago or the surrounding community feel free to contact me!

---
Michael Krotchie - Realtor®
Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100
Tucson, AZ 85704

520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax
http://www.michaelkrotchie.com

Rita Ranch MLS report - September 2008

Tue, 07 Oct 2008 09:02:48 -0500

Below are the market statistics for Rita Ranch this past month as provided by the Tucson Association of Realtors:

Active Listings: 3
New Listings: 1
Active Contingent: 1
Sold: 1
Expired: 1

Overall a normal month for Rita Ranch with one sale on 9/16/08 (a bank-owned property that sold for $101/sqft) and one new listing.

The Pepper-Viner built community on Rita Ranch Crossing Circle, on the NE corner of Houghton and Rita Ranch Roads, continues to move a few properties as the sold property is located there as well as two of the currently Active listings and the Active Contingent. The homes are more recently built than the rest of Rita Ranch but were purchased during the boom of 2005 and 2006 and as a result many have succumbed to short sales or foreclosures.

If you are interested in homes in Rita Ranch or the surrounding community feel free to contact me!

---
Michael Krotchie
Realtor® Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100 Tucson, AZ 85704

520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax

http://www.michaelkrotchie.com

University of Arizona Football Season Kicks Off – Go Wildcats!

Sun, 31 Aug 2008 13:49:56 -0500

Last night was the University of Arizona’s football season opener here in Tucson and I wanted to share with my experience with everyone (and maybe point out some helpful tips along the way!).

Being a UofA alumni and longtime Tucson resident I’ve been to plenty of athletic events but the football games are definitely the ones I enjoy the most. There is something to be said for unpredictable outdoor weather, fifty thousand fans cheering in unison, and most importantly, seeing an event live.

Now I’ll be honest, UofA football has experienced a bit of a dropoff since our Desert Swarm days back in the late nineties but we’re hoping Mike Stoops can finally turn us back around this year.

Okay let’s begin!

Kickoff was set to begin at 7pm but I was out with a client showing houses in the afternoon and didn’t get to arrive as early as I had wanted. My wife and I were supposed to meet some friends at Belushi’s Bar & Grill (excellent campus area hang out) beforehand for some drinks and a bite to eat but that didn’t work out and we found ourselves looking for parking instead!

For those of you who like to plan ahead and not have to worry about walking to Arizona Stadium, Sun-Tran has three ‘park and go’ lots around town where you can park your vehicle and take a free shuttle that drops you off right in front of the Stadium[link]. This is an extremely handy option if you don’t want to deal with the pre and post game traffic yourself and, best of all, saves you gas!

For those of you who don’t mind a short walk or paying a bit for parking, many homeowners and renters south of sixth street actually rent out their yards during games for parking! My wife and I cruised a few back streets south of Arizona Stadium vainly searching for street parking and passed several college students holding up “Parking - $20” signs (are you kidding??) before finding one that had the magic number on it.. five dollars! We pulled into a backyard and parked and were on our way!

(backyard parking near Arizona Stadium)

Our walk to the stadium was a quick five or six minutes and because we were walking with other fans it wasn’t a bother at all.

For those of you who are wondering about how to get Football Tickets check out the Arizona Athletic’s website. Quick tip: Below is a map of Arizona Stadium. One side is one long tier all the way up to the press boxes while the other side has a couple different levels. Because I’ve been to games before I know how unpredictable the weather can be and we always get tickets underneath the overhang in case the weather gets ugly (get seats in rows 49 or higher to be safe from rain).

(sit on the blue section on the right for weather protection!)

Walking up to our seats (Section 107) was surprisingly fast, we made a quick stop for some padded seat rentals (completely worth it) and grabbed a soda before sitting down.

Although the stadium wasn’t full it was a fun atmosphere and we were ready for the game to begin!

After the coin-toss Arizona was set to receive and both teams lined up for kickoff.. only to be ordered off the field for a weather delay.

Sixty four minutes, tons of rain, and two arrests later, play finally resumed and the fans who had scattered to the concourse for protection from the rain (not us!) hurried back to their seats.

(A couple of bored and over zealous fans decided to run onto the field)

The game was off to a fast start and never let up, with Arizona leading 14-0 at the end of the first quarter. Jack-in-the-Box announced a promotion that if the Wildcats scored thirty three points or more during the game they would give every fan in attendance two free tacos, and when the score hit 35-0 an immense roar erupted from the stadium, seemingly the loudest from the student section.

(Free Tacos yeah!)

Many fans left at the beginning of the fourth quarter but my wife and I stayed and enjoyed the entire experience until the final whistle blew and the scoreboard stood at 70-0.

It was a good way to start the season and provided our boys with some much needed confidence after just missing a bowl game last season. I hope their streak continues!

Here is the Arizona football schedule for 2008. Stop by and catch a game if you can, you won’t regret it!

Some additional photos!

Just outside of Arizona Stadium on Sixth Avenue

Pride of Arizona (Spells out "U of A"!)

Press Box at Arizona Stadium.. isn't that sunset gorgeous?

Pre-Game Warmups

Mike Stoops giving our boys some encouragement

Wilbur and Wilma Wildcat!

__________________

Gloom and Doom Doesn't Sell Houses!

Wed, 27 Aug 2008 09:41:12 -0500

I don't know about you guys, but every time I read a listing description that makes me nervous, anxious, or paranoid, it doesn't make me jump out of my seat in excitement out of my eagerness to show the property.

Some examples:

"Foreclosure LOOMS!" Alright we get the point, foreclosure is upcoming. Perhaps something a little more inviting such as "Show your clients this great deal before they lose it to foreclosure!" would be more reasonable.

"Foreclosure just around the CORNER!" - Again, scary. Anything that involuntarily makes me look over my shoulder while reading the MLS from my couch at home should be looked at again. See #1 for suggested substitution.

Alright, this is more of a sore spot for me: spelling. Out of curiosity I queried our MLS with the term "died" in the description field and amazingly it returned one result. I was horrified.. then I read the description: "Almost new. Polished, died concrete floors, raised panel doors, rounded corners, raised panel Oak cabinets in kitchen, all rooms prewired for ceiling fans, phone and cable. Open floor plan. Lender owned, Lender addendum required, LSR required before making offer." Whew!
"Tomorrow may be too late!" - Images of Indiana Jones and James Bond pop into my head when I read a line like this and I swear my heart skips a beat. Gadzooks I better drop everything I'm doing and RUSH to the property IMMEDIATELY!!11!

Fellow agents, we know when a property is a good deal and we know if waiting until tomorrow would be too late. How silly is it when a property with the above description line sits on the market for one week two weeks one month six months?

To be honest, I think that all negative language should be avoided. Words like terrible, tragedy, looms, and ugly just don't appeal to consumers and even though you may be trying to point out what your property isn't, don't use negative words. It leads to confusion and a poor image!

Use your precious amount of characters on highlighting the positive aspects of the property instead. But don't be "superficially positive", it may have the opposite effect you desire!

Do you fellow ActiveRainers have any more good examples?

USDA Rural Housing Loans Explained!

Wed, 13 Aug 2008 12:23:48 -0500

Ron Withers provides a dearth of information in this blog post that would be extremely helpful to anyone looking for USDA Loan information.

For you consumers who are thinking about looking for a Tucson home or Tucson investment property read the below to learn if you and the property you're interested in purchasing qualifies for a USDA Loan.

Thanks Ron!

Michael Krotchie - Realtor® Coldwell Banker Residential Brokerage, NRT LLC
6970 N. Oracle Road, Suite 100 Tucson, AZ 85704
520.404.4996 -- Mobile
520.544.4545 -- Office
520.844.6699 -- Fax
http://www.michaelkrotchie.com

Via Ron Withers:

This post is for consumers/homebuyers, Real Estate Professionals and Mortgage Professionals that may not have a good working knowledge of the features and benefits of the US Department of Agriculture's Guaranteed Rural Housing program. Over the years I have done a number of these loans and have come to believe that it is one of the most under-utilized mortgage loan programs in the United States. It has many flexible features not found in Conventional and FHA loans.

For those real estate and mortgage professionals that have been around for a while, this program is not to be confused with their 502 program (direct or subsidized). See Postscript #3 below. When I speak with Real Estate professionals, quite often they have the impression that this program is a so-called "red tape" program. Not the case! Particularly with an experienced or seasoned loan officer. As you read the following information on the advantages of using the USDA Guaranteed Rural Housing program and some of its' salient features I am certain that you would see some great opportunity in directing some of your clients toward this mortgage program. Some of the information below does pertain to these loans in the State of Florida and is provided for information/illustration and information is available on the USDA website for your geographic location. Likewise these loans are subject to the property being located in an eligible area. A link is provided to determine if a specific property address may be eligible for USDA-GRH financing.

Advantages:

• No down payment required.

• No Mortgage Insurance.

• No cash reserves required.

• No seller contribution limit.

• No Prepayment Penalty

• Loan up to 102%* of appraised value allowed...not the lesser of Sale Price or Appraisal

• Loan amount can include closing costs and prepaids up to appraised value.

• No stated maximum loan amount; maximum loan based on repayment ability

•No First Time Homebuyer Requirement

• New and existing homes OK

• Fully amortized 30-year fixed rate loan

• No minimum credit score required...common sense underwriting allowed.

• No minimum cash contribution required from borrower.

• No limit on CLTV when soft second financing such as SHIP or HOME is used for closing costs and prepaids.

• No limitation on source of funds for closing costs. No seasoning requirement.

• 100% gifted closing cost or down payment assistance is permitted.

• Non-traditional credit may substitute for lack of traditional credit history.

• No derogatory credit explanations required when credit score is 620 or above.

•Rent is not verified with FICO of 620 or more.

• Qualifying ratios of 29%/41%...29% PITI to Income and 41% Total Debt to Income, however standard ratios may be exceeded with documented compensating factors.

• Automatic ratios waiver of 31%/43% for homes built after January 1, 2000.

• Conventional type loan packaging with only 1 extra form required.

• Competitive rates (set by underwriting lenders)

*Appraisal may be exceeded by amount of Guarantee Fee

Determining if property is in a Rural Development designated rural area:

http://eligibility.sc.egov.usda.gov/

Determining if applicant(s) have an acceptable credit history:

• Credit history must indicate a reasonable willingness to meet obligations when due.

• Streamlined credit approval when primary applicant has a middle credit score at 620 or above.

• No minimum credit scores.

• Lack of credit is not derogatory. Alternative credit verifications are allowed, typically 3 lines.

• Lenders make the credit decision.

Income eligibility:

Project the cumulative gross income of all adults in the household.

THE GROSS INCOME LIMITS CAN BE MUCH HIGHER THAN THE ADJUSTED INCOME LIMITS SHOWN IN THIS TABLE

If the projected dependable income exceeds the limits, certain adjustments can be made, such as childcare expenses for children age 12 or younger and paid to someone outside the family. You also can deduct one $480 annual deduction for anyone under 18 or a student who is not one of the applicants. Other deductions may be available (see FL/VI Handbook or RD Instruction 1980-D, www.rurdev.usda.gov/regs

Example: Clay County 4-person family (2 adults, 2 children) has a gross income of $80,310. Child care for the two children age 12 or less is $10,000 annually. Is the threshold income at or below the limit? YES. $80,310 less $10,000 child care less $480 for each child = $69,350.

Counties

1-person

2-person

3-person

4-person

5-person

6-person

7-person

8-person

All Florida & Virgin Island Counties EXCEPT those listed below.

48,000

54,850

61,700

68,550

74,050

79,000

85,000

90,500

Clay, Duval, Nassau, St. Johns

48,550

55,500

62,400

69,350

74,900

80,450

86,000

91,550

Collier

56,200

64,250

72,250

80,300

86,700

93,150

99,950

106,000

Palm Beach

51,850

59,250

66,650

74,050

79,950

85,900

91,800

97,750

Broward, Pinellas, Monroe are NOT eligible

See the easy to use calculator at: http://eligibility.sc.egov.usda.gov/eligibility Click on "Single Family Housing" under "Income Eligibility"

Applicant(s) repayment ability:

Ratio limits are 29 front (housing, PITI), 41 back (total debt, MOTI). Rural Development generally allows expanded repayment ratios if recommended by the lender's underwriter. 31%/43% automatic for dwelling built after 1/1/2000.

Other eligibility criteria:

• Do not own a suitable dwelling.

• Insufficient resources to secure conventional 80% loan without the guarantee.

• U.S. citizen or permanent resident or qualified alien.

• Financed dwelling will be primary residence.

Loan-To-Value (LTV) and Loan Limit:

• 102% LTV for the guaranteed first mortgage loan when including the guarantee fee, 100% LTV without the fee included.

• Loan amount can exceed appraised value by the amount of the guarantee fee.

• There is no loan limit

P.S. #1

This post script has been added to this blog as I received a very nice "thank you" email from an USDA Rural Housing official in Florida thanking me for posting this blog regarding their USDA GRH program. I thought it was very nice of them to take the time to express their appreciation. They did provide a comment about a correction in the program information which I have done. It's great that information posted here on ActiveRain does get noticed or picked up by consumers/officials and they provide feedback accordingly. The text of this email is as follows:

Hi Ron

THANKS so much for your blog on the web. One of employees in Ohio saw it and pointed it out to me. You may know, but I work out of our Gainesville headquarters. I write the materials about the guaranteed residential loan product.

I'm sorry I had a typo on the Quick Guide. I gave info on streamlined documentation with FICO of 620 or above. BUT then forgot to change the section "Determining if applicant(s) have an acceptable credit history" in reference to "660" that should have said "620".

We trying to make this product more lender friendly and family friendly. I've been a part of writing a number of significant changes over the past 16 years, since the program inception.

You've probably already done this but you may want to consider inviting our local staff to assist with any seminars you present to your realtors, builders, or applicants.

You are correct that this product is the best one for families meeting four simple guidelines: Do they have less than 20% down payment; is the property in an eligible area; is their adjusted household income within the limits; and do they have a reasonable credit history.

Again, thanks so much. We appreciate it.

P.S. #2 6/21/2008

I have been modestly surprised by the amount of interest that this post has generated. In addition to the comments posted here I have received calls and emails from consumers, realtors and loan officers from all over the United States.

Given the current climate of the real estate market as well as the mortgage marketplace this is the only competitive and true 100% financing program left in the mortgage industry....and guess what? It's still Under-utilized!

P.S. #3 -- 6/26/2008

Since my original posting date numerous people have inquired/commented about the 502 Direct Program that is briefly mentioned above. Below is more specific information for USDA's Direct program so a contrast may be drawn in respect to the Guaranteed Rural Housing Program.

Unlike, USDA Guraranteed Rural Housing loans originated by most of us, Rural Housing Direct Loans are loans that are directly funded by the Government. These loans are available for low- and very low-income households to obtain homeownership. Applicants may obtain 100% financing to purchase an existing dwelling, purchase a site and construct a dwelling, or purchase newly constructed dwellings located in rural areas. Mortgage payments are based on the household's adjusted income. These loans are commonly referred to as Section 502 Direct Loans.

Purpose: Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Eligibility: Applicants for direct loans from HCFP must have very low or low incomes. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. Click here to review area income limits for this program. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance, which are typically within 22 to 26 percent of an applicant's income. However, payment subsidy is available to applicants to enhance repayment ability. Applicants must be unable to obtain credit elsewhere, yet have reasonable credit histories. .

Terms: Loans are for up to 33 years (38 for those with incomes below 60 percent of AMI and who cannot afford 33-year terms). The term is 30 years for manufactured homes. The promissory note interest rate is set by HCFP based on the Government's cost of money. However, that interest rate is modified by payment assistance subsidy.

Standards: Under the Section 502 program, housing must be modest in size, design, and cost. Modest housing is property that is considered modest for the area, does not have market value in excess of the applicable area loan limit, and does not have certain prohibited features. Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.

Approval: Rural Development officials should make a decision within 30 days of the Rural Development office's receipt of the application.

Why being a good Realtor isn't as important as being a good listener

Sat, 09 Aug 2008 16:58:23 -0500

A lot of us agents here get caught up in the latest marketing craze, the newest tech-gadget, the hottest blog to read, or the cutting edge IDX solution that will DESTROY the competition and GUARANTEE RESULTS!!!11!

But how many of you, regardless of what industry you're in, take time to refine and improve the most important asset we have at our disposal? If you're reading this you already know that I think this asset is our ability to LISTEN.

Whether you want to admit it or not, there are a lot of agents or brokers or inspectors or whatever-your-job-is who are probably just as good as you are skill-wise. Sure you may have twenty years of experience or be an expert in your area, but if you don't the time to listen to your clients and connect with them on a personal level, you're going to have a much tougher time of it than those who do.

And I'm not just talking about hearing your client and writing down all of the pertinent information on your client profile sheet. I'm talking about asking the right questions, about asking about motivations, but most importantly, knowing when to shut up and listen! That's right, I said it!

Case in point: Last Tuesday I received a call from a older gentleman (let's call him Gus) from out of state who wanted to sell a property in Northeast Tucson. Gus mentioned he wanted to get rid of it quickly and wouldn't mind listing it under market value to sell it faster. At this stage many agents would have gone into cruise control and set in motion the process to get the home listed, but something in the Gus's voice gave me pause.

I asked him why he wanted to sell and over the next ten minutes he related to me his life story.

He had met his wife in California during the 1970's when he was in the military. They married and continued to travel the world as he was stationed at several bases across the globe as a pilot, eventually ending up in Tucson in the 90's to settle into retirement. What the didn't plan for, however, was the breast cancer that his wife was diagnosed with just a few short years ago. Sadly his wife passed away recently and he moved to be closer to family while he grieved. Gus still owned the home they lived in together and had called me because he was finally ready to move on and wanted to sell the house.

After relating his story to me, Gus was in a pretty fragile state. It was obvious that he was still in pretty rough shape from losing his wife, and to be honest, I was completely unprepared for what had happened, finding myself at a loss for words. I mumbled something about how sorry I was for his loss, and finally gathered enough of my wits to suggest that maybe Gus should take a bit of time to think about his decision to be sure it was what he wanted to do; the last thing I wanted was to take advantage of someone who was still grieving.

Gus apologized for rambling on about his wife and I assured him I didn't mind at all. He thanked me for taking the time to listen to him and said it might be a good idea to think over his decision to sell the house, but that he would be calling me back either way.

Now I know that this doesn't happen to most people, and it may not happen to anyone ever in their career, but the point is that you have to willing and ready to listen to your clients. Many times people need more than just an agent, they need a confidant and, more importantly, a friend.

I have no doubt in my mind that if Gus decides to go ahead with the home purchase he will give me a call, I could tell he appreciated the fact that I took the time to listen to him and didn't treat him like just another client. It sounds funny, but I wish I could help people out by listening more often.. even if it meant a house I didn't get to list.

I didn't write this post with the goal of making this seem like a life lesson, but in retrospect I suppose it should be. Listening and being compassionate is something we should all strive towards, not only does it make us better at our job, it makes us better people. I hope Gus finds some closure in his life.

Houghton Town Center comes to Southeast Tucson

Wed, 06 Aug 2008 08:58:13 -0500

When Houghton Town Center is completed it will be one of Tucson’s most prestigious power centers, and the first one to be in Southeast Tucson.

It will be located on the southwest corner of Houghton Road and Old Vail Road just north of Interstate 10, and it will serve one of the fastest growing sub-markets in the Tucson region (Rita Ranch, Rancho del Lago, Corona de Tucson).

The development will include large scale retailers, promotional retailers, restaurants, small office components and pad users, and will cover approximately 85 acres. Currently Home Depot has agreed to build a 125,000 sq. ft. store on 12 acres (which I'm sure will help out homeowners!).

From looking at the site layout below you can see just how extensive the development is going to be, currently at the location it is still scrub desert.

It is planned to be built over over the next four to five years with ground breaking scheduled for late this year. The sooner the better!

And just an FYI, Houghton is pronounced "Hoe-ton" (I learned it "How-ton" and I'm trying to break my habits), there was an article in the Arizona Daily Star that explained how an early family, the Houghtons, settled in Tucson many years ago.

Mercado del Lago coming to Vail!

Mon, 28 Jul 2008 13:45:58 -0500

For those of you in Rancho del Lago who have been waiting for a grocery store to be built, it looks like it is finally going to happen!

Construction is slated to begin next month on Mercado del Lago, a 16.5-acre retail center at the intersection of Colossal Cave Road and Mary Ann Cleveland Way.

Mercado del Lago will include a 55,000-square-foot Safeway as well as space for a variety of shops, restaurants and offices. The Safeway store is expected to open in August 2009.

Currently the closest shopping options for those in Rancho del Lago are located in Rita Ranch, and for those residents from Corona de Tucson the new Safeway will be a much welcomed relief.

In addition to Safeway, a McDonald's and Chase Bank are also expected to open in 2009. The other retail space will include restaurants -- perhaps an Italian eatery! -- and possibly a dentist's office as well as a hair salon and an ice cream shop.

When Mercado del Lago is completed there will be 16 to 20 tenants in addition to Safeway.

New Tangerine Farms Road Opens in Marana

Fri, 11 Jul 2008 10:42:46 -0500

Hundreds of residents recently celebrated the opening of the new Tangerine Farms road linking the Gladden Farms housing development with Interstate 10.

On June 25 the nearly 4-mile stretch of brand new road was opened to much fanfare and anticipation of community residents. The new road is four lanes with a center median and sidewalks on both sides and will make commuting much easier for Marana residents, linking both the Gladden Farms and Rancho Marana communities to the freeway.

It will also serve as a major thoroughfare to the planned Fry's Marketplace on the corner of Lon Adams and Tangerine Farms road as well as the Shops at Tangerine, a 281 acre megaplex of retail, dining, entertainment and auto mall.

Signal lights have not been installed yet but are planned for the very near future (I've already seen two minor fender benders since the road opened so I hoped they hurry!). They are also planning to redo the freeway ramps which should make everyone happy; currently the off-ramp is only one lane so it tends to take a while during rush hour.

[Pictures courtesy of The Explorer]

Top 10 Reasons Why Your House Hasn’t Sold Yet

Mon, 18 Jun 2007 12:41:37 -0500

10) Too cluttered - Nothing turns a buyer off more than walking into a potential new home and seeing it filled with stuff. If you really want to sell your home at least take the time and effort to put away, or better yet, dispose of some of your less useful belongings. That collection of McDonald’s plastic toys sitting on your computer desk might have been worth a chuckle when you bought them 3 years ago but c’mon.. get rid of them. Chuck it, stow it, or store it.

9) Too homey - This is hotly debated both ways with one side advising to keep it personal and the other side voting for “less is more”. If your house has an abundance of personal photos, knick-knacks, quilts, and those little marks on the wall from when the kids were growing up, it very well might turn off potential buyers. To help them try to envision themselves living in your house think about keeping the “this is my house” stuff down to a minimum while it’s on the market.

8) Lack of Curb Appeal - If you are trying to sell your home, spend some time and/or money on cleaning up the yard/facade of the house. It never ceases to amaze me when sellers have weeds growing in their yards or still have Christmas lights hanging… in JULY. Hire a landscaper or pay the neighbor’s kid $5 to cut the grass, pull the weeds, and plant some pretty flowers that someone’s wife will fall in love with. Spending some money when you’re trying to sell a home for hundreds of thousands of dollars is a no-brainer.

7) Terrible Photos - This is something a LOT of real estate agents are guilty of. If your home looks unattractive in the MLS photos then expect less people to come by to take a look. Your home has to be appealing and enticing to potential buyers so take the time to make sure you display the best shots you can. Athol over at REagentinct.com has a recurring “Bad MLS Photo of the Day” post that shows just how bad things can get (and also a .

6) Condition of the House - Imagine this… your house has been on the market for 4 months.. several showings.. no offers.. You wonder to yourself, “How can I get this much traffic and not have a single offer?” Believe it or not, the stained carpet, warped floorboard, stuck window, and the algae-green pool might have something to with it. Wise up, roll up your sleeves, and take care of it. Better yet have someone else do it. Most home buyers want a turn-key house that won’t require any additional work to move into so keep that in mind if you won’t budge on the price.

Click here to read the rest of the list >>

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Michael Krotchie - Realtor® - Coldwell Banker Residential Brokerage, NRT Inc.
6970 N. Oracle Road, Suite 100
Tucson, AZ 85704
520.404.4996 -- Mobile
520.544.4545 -- Office

Tucson Real Estate | Tucson Real Estate Blog

Open House - June 3rd, 2007 - 2pm-6pm - Gorgeous Home in Continental Ranch

Fri, 01 Jun 2007 22:39:53 -0500

Rare find: 2 bedroom w/bedroom sized DEN, and a 3 car garage!! Greatroom concept w/fireplace. Spacious kitchenw/lots of counter/cabinets. Long breakfast bar. Extra buffet cabinets in dining room. Bay window in master, dual sink vanity, garden tub, sep shower. Full length covered flagstone patio, lrg bkyd w/in-ground spa && waterfall. Garage has bkyd access door too! Submit your offer today!

7692 W Talavera Way, Tucson, AZ 85743

Open House Sunday(June 3rd) from 2pm-6pm. For more information contact:

Michael Krotchie - Realtor
Coldwell Banker Residential Brokerage, NRT Inc.
520-404-4996 mobile
Tucson Real Estate

Open House - June 3rd, 2007 - 9am-1pm - Beautiful Santa Fe Style Home - Overton Heights Subdivision

Fri, 01 Jun 2007 22:32:20 -0500

A job transfer for the seller means a great house for you! Spacious 4 bedrooms 3 bath Santa Fe style home. Fresh paint throughout, FP, dual cooling, open kitchen w/new appliances, custom staircase rail, master bedroom opens out to balcony overlooking the backyard & beautiful Tucson sunsets. The backyard features a sparkling pool and hot tub. Walking distance to schools. This is your new home!

9241 N Jessy Ln, Tucson, AZ 85742

Open House Sunday(June 3rd) from 9am-1pm. For more information contact:

Michael Krotchie - Realtor
Coldwell Banker Residential Brokerage, NRT Inc.
520-404-4996 mobile
Tucson Real Estate

Open House - June 2nd, 2007 - 2pm-6pm - Large Home, Reduced Price! Las Vistas Subdivision

Fri, 01 Jun 2007 21:57:29 -0500

The Place is Here and the Time is NOW! This HM is Meticuously Cared for. Open, Flowing Floor Plan, V/Ceilings, Kitchen W/All Appl, Pull Out Cabinets, Plenty of Counter Space, Wide Hallway, 4 BdRm, 2 Fl Bath, 2046 Sq. ft. Laundry Rm W/Washer & Dryer. Az Rm for full Enjoyment. Backyard W/Gas hook-up, Covered Cabanna, Grass, Pavers and Play Area. Great Neighborhood, w/distance to School & Family friendly Park. This could be your HOME... FOREVER!

9586 N Crestone Dr, Tucson, AZ 85742

Open House tomorrow (June 2nd) from 2pm-6pm. For more information contact:

Michael Krotchie - Realtor
Coldwell Banker Residential Brokerage, NRT Inc.
520-404-4996 mobile
Tucson Real Estate

Open House - June 2nd, 2007 - 9am-1pm - Beautiful Home, Great Value!, NW Tucson

Fri, 01 Jun 2007 21:51:59 -0500

Generous space to gather friends & family. This 1558sf, 2004 built, 3 bdrm, 2 full bath home invites you to make new memories. Fresh paint thru-out, professionally cleaned carpet, oak cabinets, track lighting, laundry room w/shelving, wood blinds, ceiling fans, covered patio, N/S orientation. Office/Den C/B converted to 4th bdrm. Large eat in kitchen opens to great room. Light & Bright! The BEST in Hartman Vistas!

9253 N Centipede Ave, Tucson, AZ 85742

Open House tomorrow (June 2nd) from 9am-1pm. For more information contact:

Michael Krotchie - Realtor
Coldwell Banker Residential Brokerage, NRT Inc.
520-404-4996 mobile
Tucson Real Estate

The Tucson Real Estate Market Has Finally Plateaued.. What’s Next?

Fri, 01 Jun 2007 11:11:04 -0500

Ever since the housing craze of 2005 there was a growing consensus that the US was going to experience a housing “crash” across the nation that would weaken, if not cripple, our economy. Fortunately it looks like it has been more of a soft landing and for the most part it has been much softer than many experts predicted.

In the Tucson Real Estate market the results of the past few years of activity is finally becoming evident with home values growing just .01% in the first quarter of 2007, according to the Office of Federal Housing Enterprise Oversight. In a new article on CNN.com from yesterday (May 31, 2007), the National Association of Realtors cited home prices in the Tucson market declining 2.5% from one year ago.

This isn’t really a surprise; there are more than TWICE as many active listings right now than there were two years ago. In April 2005 there were 3,493 active listings. Last month, April 2007, there were 10,185! The Days on Market (DOM) for homes has increased from 37 days to 67 days.

It wasn’t uncommon in 2005 to have multiple offers on a home within days of it being on the market. Homes are now sitting on the market much longer, but to be completely honest, this market is a much more reasonable one. It is much more of a normal market than we experienced in the 2005/2006 period but the prices of homes have not yet come to reflect that. Many homeowners still believe, or want to believe, that their home can fetch the same types of prices that were being fetched a couple years ago.

Open House Tips - From Preparation to Execution

Wed, 23 May 2007 15:17:56 -0500

Open House Tips - From Preparation to Execution
by Michael Krotchie - Tucson Realtor

Hello everyone! Just thought I'd share some basic open house tips that I follow and usually work out well for me. There is a big difference between showing up at an open house unprepared and showing up with materials, listings, and other useful items.

First, lets assume you don't have much business right now and have decided to hold some houses open for other agents in your office. Many agents do not have the time or desire to hold all of their properties open every weekend and will eagerly accept your offer to do it for them. Who wouldn't want free advertising? But in order to maximize the potential benefit to you there are a few steps you should follow before deciding which properties you want to expend your efforts on:

1) Be sure to personally preview the property BEFORE you actually agree to hold it open. Sometimes there are big differences between what you see in the listing online and what you see when you actually get to the property. Make sure to inspect each room carefully, check bathrooms, check the backyard, basically check it as though you were a potential customer walking through the house for the first time. I take a checklist where I grade each area of the home according to feature. Also make sure it is priced appropriately for the market (no use holding open an over-priced listing where no one will show up).

2) After you have decided to hold an open house, decide whether or not you are going to advertise. In many communities there is enough weekend traffic that it may not be necessary to do any marketing but in others you may want to think about placing a small newspaper ad and/or posting on Craigslist (free!). There is nothing worse than holding an open house and having NO ONE come by because they didn't know about it. Sometimes the listing agent will also advertise for you so be sure to check!

Michael Krotchie - Realtor® - Coldwell Banker Residential Brokerage, NRT Inc.
Tucson Real Estate
520.404.4996 -- Mobile
520.544.4545 -- Office
Tucson Real Estate

Saguaro Springs - A New Subdivision Coming to the Tucson Real Estate Market

Tue, 15 May 2007 21:01:57 -0500

Saguaro Springs - A New Subdivision Coming to the Tucson Real Estate Market
by Michael Krotchie

Greetings everyone! Just wanted to let you know about an upcoming subdivision in the Tucson Real Estate market, Saguaro Springs.

Saguaro Springs is a 2,500 home project being developed jointly by KB Homes and Empire Companies and is nestled behind Rattlesnake Pass by the intersection of Silverbell Road and Twin Peaks Road in NW Tucson. It is slated to be built in the same manner as the existing Gladden Farms subdivision north of Tangerine Road with large greenbelts, walking paths and tree-lined boulevards. A neighborhood Community Center will include a fitness center, pool area, youth center and banquet facilities with meeting rooms for casual or formal events. There are currently 6 floorplans being offered ranging from 1,422 to 2,273 square feet. More info here from the KB website.

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Michael Krotchie - Realtor® - Coldwell Banker Residential Brokerage, NRT Inc.
Tucson Real Estate
520.404.4996 -- Mobile
520.544.4545 -- Office

Tucson Real Estate

Visualizing your way to success!

Mon, 14 May 2007 23:00:24 -0500

Visualizing your way to success
by Michael Krotchie - Tucson Realtor

Most real estate agents have a reason they began their career. For some, it is because they enjoy the day-to-day interaction. For others it is the everlasting journey to riches. Whatever your goals may be, visualization techniques are an underutilized and often mis-interpreted aid to your success. Just mentioning the word 'visualization' probably causes many of you readers to smile, snicker and be skeptical in general. But to those of you willing to read a bit longer you will find that visualization techniques are actually a very powerful tool that should be used more often.

Have you ever noticed that the people who tell everyone they have bad luck consistently have bad things happen to them? And on the other hand do you notice people who are constantly upbeat and passionate about what they do tend to be more successful than others? These are not mere coincidences but a result of the sub-conscious mind at work. Many people do not realize how amazingly powerful the human mind is and by using a few of the techniques outlined below you will can help yourself improve your life (for free!).

Start off by finding a time and place where you have a quiet environment. Close your eyes, and envision whatever you wish to accomplish.

Michael Krotchie - Tucson Realtor
Tucson Real Estate

Tucson Real Estate - 12752 N Quinoa Dr, Marana, AZ 85653

Sun, 13 May 2007 21:48:19 -0500

Tucson Real Estate - 12752 N Quinoa Dr, Marana, AZ 85653

$329,000

12752 N Quinoa Dr, Marana, AZ 85653

Year Built:2005

Area: NW

Sq Ft: 2849

Lot Sz: 7896 Sq Ft

Beds: 4

Baths: 3 (3 0 0 0)

Area: NW

Marketing Remarks: GREAT FLOORPLAN AND COMPLETELY UPGRADED! Granite w/ full backsplash in kitchen, 42' Maple cabs, KitchenAid stainless appliances, 19 tile, upgraded carpet & Pad. Pre-wired for security, sorround sound inside & outside patio. Only 1 room upstairs, 510 sq ft & has its own A/C, 3/4 bath, & walk-in closet. East facing backyard nicely landscaped and backs open grassbelt. Owners are licensed Realtors in Arizona.

For more information please contact Michael Krotchie

http://www.MichaelKrotchie.com - Tucson Real Estate

More Pics:

Tucson Real Estate - 12518 N Stone Ring Dr, Marana, AZ 85653

Sun, 13 May 2007 21:39:23 -0500

Tucson Real Estate - 12518 N Stone Ring Dr, Marana, AZ 85653

$298,000

12518 N Stone Ring Dr, Marana, AZ 85653

Year Built:2005

Area: NW

Sq Ft: 2456

Lot Sz: 8712 Sq Ft

Beds: 3

Baths: 2 (2 0 0 0)

Area: NW

Marketing Remarks:Incredible value! 3 large bedrooms, den, family room with fireplace. Formal living/dining room, volume ceilings, 3 car garage and pool size yard. Upgrades include 18 inch tile, maple cabinets, ceiling fans and all for under $300,000!

For more information please contact Michael Krotchie

http://www.MichaelKrotchie.com - Tucson Real Estate

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Tucson Real Estate - 7189 West Deserama Drive, Tucson, AZ 85743

Sun, 13 May 2007 21:30:58 -0500

Tucson Real Estate - 7189 W Deserama Dr, Tucson, AZ 85743 - Located in Continental Ranch (NW Tucson)

$289,900

7189 W Deserama Dr, Tucson, AZ 85743

Year Built:1997

Area: NW

Sq Ft: 2900

Lot Sz: 0.296ac

Beds: 4

Baths: 3 (3 0 0 0)

Area: NW

Marketing Remarks: The vaulted ceilings of this house greet you with an understated elegance and the spacious floorplan invites you to explore further. A large kitchen with island flows into the living room and onto the extended patio and nearly 13k sq. ft. lot! With neighbors on only one side you have all the privacy you could want!

The master bedroom is impressive and a new set of French-doors opens onto a large balcony with amazing mountain views. Fresh paint inside and out makes this house an irresistible buy!

Price has been reduced $30k to sell quick! Agent related to owner.

For more information please contact Michael Krotchie

http://www.MichaelKrotchie.com - Tucson Real Estate

More Pics:

Top 3 Mistakes Rookie Real Estate Agents Make -- And How To Avoid Them

Wed, 09 May 2007 14:19:31 -0500

Top 3 Mistakes Rookie Real Estate Agents Make -- And How To Avoid Them
by Michael Krotchie - Tucson Realtor

First off this is by no means a comprehensive guide to avoiding rookie blunders but it is definitely a starting point for any of you thinking of becoming an agent or those of you just starting out in the real estate world. The more informed you are the better off you'll be!

1) Not interviewing with several brokerages / Selecting brokerage for wrong reasons
-- One of the most important decisions you face as a new agent is choosing which company you will go to work for. Many new agents will simply go with the big-name companies they've seen on billboards around town or on TV commercials without talking to other brokerages. It is in your best interest to interview with at least a few different brokerages for several reasons:

Get to meet the broker and see how well you get along
See what differentiates one brokerage from another (training, marketing, commission plans, etc)
Do they offer a mentoring/start-up program?
Fees / Floor time / Technology / Health Insurance / etc.

With interviews taking at MOST one to two hours you are definitely better served by interviewing with at least a few brokerages.

2) Start-Up Fees and Expenses
-- This one can really affect new agents right out of the gate. In addition to RE school, which can run several hundreds of dollars, you also have to pay for state exam(s), licensing fees, association/board fees, usually some sort of "office" start-up fee, lockbox key fees, and so on and so forth.

Michael Krotchie - Realtor® - Coldwell Banker Residential Brokerage, NRT Inc.
Tucson Real Estate
520.404.4996 -- Mobile
520.544.4545 -- Office
Tucson Real Estate

Smartphone and Laptop??

Thu, 12 Apr 2007 16:30:51 -0500

Smartphone and Laptop??
by Michael Krotchie

Alright ladies and gentlemen I have a question for you. Currently I have a Treo 700wx through Verizon and while I love the functionality of it sometimes I find myself wishing for a laptop as well. Sometimes while sitting at open houses and on the phone I would like to be taking notes, checking my calender, or looking at a listing online. A laptop would be nice for this. Do many of you have both of these??

And furthermore, how many of you lug around printers in your car? I can definitely think of many situations where it could come in handy and one of the reasons I'm hesitant is because I live in Tucson, AZ and it get pretty warm during the summer months.

Any thoughts?

Counties	1-person	2-person	3-person	4-person	5-person	6-person	7-person	8-person
All Florida & Virgin Island Counties EXCEPT those listed below.	48,000	54,850	61,700	68,550	74,050	79,000	85,000	90,500
Clay, Duval, Nassau, St. Johns	48,550	55,500	62,400	69,350	74,900	80,450	86,000	91,550
Collier	56,200	64,250	72,250	80,300	86,700	93,150	99,950	106,000
Palm Beach	51,850	59,250	66,650	74,050	79,950	85,900	91,800	97,750
Broward, Pinellas, Monroe are NOT eligible

Michael's Blog - Tucson, AZ and Surrounding Areas

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Top 10 Reasons Why Your House Hasn’t Sold Yet

Open House - June 3rd, 2007 - 2pm-6pm - Gorgeous Home in Continental Ranch

Open House - June 3rd, 2007 - 9am-1pm - Beautiful Santa Fe Style Home - Overton Heights Subdivision

Open House - June 2nd, 2007 - 2pm-6pm - Large Home, Reduced Price! Las Vistas Subdivision

Open House - June 2nd, 2007 - 9am-1pm - Beautiful Home, Great Value!, NW Tucson

The Tucson Real Estate Market Has Finally Plateaued.. What’s Next?

Open House Tips - From Preparation to Execution

Open House Tips - From Preparation to Executionby Michael Krotchie - Tucson Realtor

Saguaro Springs - A New Subdivision Coming to the Tucson Real Estate Market

Saguaro Springs - A New Subdivision Coming to the Tucson Real Estate Market by Michael Krotchie

Visualizing your way to success!

Visualizing your way to success by Michael Krotchie - Tucson Realtor

Tucson Real Estate - 12752 N Quinoa Dr, Marana, AZ 85653

Tucson Real Estate - 12752 N Quinoa Dr, Marana, AZ 85653

Tucson Real Estate - 12518 N Stone Ring Dr, Marana, AZ 85653

Tucson Real Estate - 12518 N Stone Ring Dr, Marana, AZ 85653

Tucson Real Estate - 7189 West Deserama Drive, Tucson, AZ 85743

Tucson Real Estate - 7189 W Deserama Dr, Tucson, AZ 85743 - Located in Continental Ranch (NW Tucson)

Top 3 Mistakes Rookie Real Estate Agents Make -- And How To Avoid Them

Smartphone and Laptop??

Open House Tips - From Preparation to Execution
by Michael Krotchie - Tucson Realtor

Saguaro Springs - A New Subdivision Coming to the Tucson Real Estate Market
by Michael Krotchie

Visualizing your way to success
by Michael Krotchie - Tucson Realtor