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8321 E Brookwood Drive, Tucson AZ 85750

James Servoss (Long Realty Company) — Wed, 02 Dec 2009 20:31:58 -0600

STUNNING SOFT CONTEMPORARY ON PANORAMIC MOUNTAIN VIEW LOT BORDERING ACRES OF GREENBELT COMMON W/CANYON RANCH SPA. EXQUISITELY UPDATED, A SEAMLESS DESIGN OF BEAUTIFUL SPACE & LIGHT, QUALITY CRAFTSMANSHIP AND GOOD TASTE. DRAMATIC ENTRY, LOFTY BEAM CEILING AND EXPANSIVE WINDOWS & DOORS. STATE-OF-THE-ART KITCHEN W/CHIC WINE BAR, DBL OVENS, WOLF RANGE & SUBZERO. GOURMET & GORGEOUS! RESORT-LIKE BACKYARD, DEEP PATIOS, FP & BBQ. SPECTACULAR VISTAS!

FOR ADDITIONAL INFORMATION VISIT WWW.JSERVOSS.LONGREALTY.COM/20934229

Tucson Housing Report for November 2009

James Servoss (Long Realty Company) — Tue, 24 Nov 2009 11:35:20 -0600

Tucson Housing Report for November 2009

As of October 2009 active inventory was 6,273, a 22% decrease from October 2008. There were 995 closings in October 2009, a 25% increase from October 2008. Months of Inventory was 6.3, down from 10.1 in October 2008. Median price of sold homes was $159,000 for the month of October 2009, down 12% from October 2008. Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 83% from October 2008.

Get the full Housing Report for Tucson

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James Servoss (Long Realty Company) — Thu, 19 Nov 2009 12:13:22 -0600

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James Servoss (Long Realty Company) — Thu, 19 Nov 2009 12:02:31 -0600

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2810 E Arroyo Chico, Tucson, Arizona 85716

James Servoss (Long Realty Company) — Tue, 10 Nov 2009 17:49:31 -0600

MID-CENTURY RANCH TRANSFORMED INTO A PURE EXPRESSION OF 21st CENTURY MODERNISM. 1st CLASS RENOVATION WITH ATTENTION TO DETAIL AND CRAFTSMANSHIP. VOLUMES OF SPACE & LIGHT TRAVEL ROOM TO ROOM THROUGH BRIGHT, OPEN FLOORPLAN. GORGEOUS WINDOWS AND EXQUISITE LIGHTING. STATE OF THE ART KITCHEN & BATHROOMS. LAVISH MASTER SUITE. SUPERB LOCATION, CHARMING NEIGHBORHOOD & STREET. MINUTES TO U OF A, DOWNTOWN, REID PARK GOLF & TENNIS.

Contact James Servoss at www.jservoss.longrealty.com or jservoss@longrealty.com for more information.

Long Mortgage Introduces My Transaction Now

James Servoss (Long Realty Company) — Tue, 10 Nov 2009 17:43:04 -0600

Long Mortgage Introduces MyTransactionNow

With the ever-changing government laws currently in place that pertain to mortgage lending, Long Mortgage Company has introduced MyTransactionNow.com to its team of associates, available exclusively through Long Mortgage. This secure, interactive website provides Long Realty loan officers, real estate agents and their clients with a smoother loan transaction through increased awareness of the loan process by giving them the ability to access their loan transactions 24 hours a day.

"In today's environment with increased government regulations it is very important to keep everyone updated on the progress of the loan. MyTransactionNow is the solution. This system keeps all parties informed on the major steps of the transaction," said Lee Flenard, President of Long Mortgage Company. MyTransactionNow.com is a cutting-edge loan tracking system that helps to streamline the loan process by centralizing information about the status of loans and giving all parties involved 24 hour access to vital information. Clients and agents are notified instantly about the progress of their loan as it happens, greatly reducing the need to call or email to check loan or appraisal status. Contact information for the Sales Associate, Listing Agent, Borrower and Escrow Agent is included with each loan transaction record, along with closing date and contract sales price. Long Realty associates can also access up-to-the-minute lending regulations and important documents in one convenient location. By providing MyTransactionNow.com as a central point of contact for all parties, Long Mortgage is taking the stress and surprises out of the loan process. For more information about MyTransactionNow, please contact Matt Rivera, Operations Specialist for Long Mortgage 520-918-1679.

Sahuarita Housing Report for September 2009

James Servoss (Long Realty Company) — Fri, 09 Oct 2009 12:11:51 -0500

Sahuarita Housing Report for September 2009

As of August 2009 active inventory was 219, a 6% decrease from August 2008. There were 38 closings in August 2009, 73%above August 2008. Months of Inventory was 5.8, down from 10.6 in August 2008. Median price of sold homes was $162,084 for the month of August 2009, down 16% from August 2008. Sahuarita is experiencing a significant increase in buyer activity, with new properties under contract up 63% from August 2008.

Get the full Housing Report for Sahuarita

Tucson Housing Report for September 2009

James Servoss (Long Realty Company) — Fri, 09 Oct 2009 12:09:38 -0500

Tucson Housing Report for September 2009

As of August 2009 active inventory was 6,095, a 25% decrease from August 2008. There were 957 closings in August 2009, a 6% increase from August 2008. Months of Inventory was 6.4, down from 9.0 in August 2008. Median price of sold homes was $162,500 for the month of August 2009, down 12% from August 2008. Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 52% from August 2008.

Get the full Tucson Housing Report

Best US Real Estate Markets for 2009 - Tucson in Top Ten

James Servoss (Long Realty Company) — Mon, 05 Oct 2009 16:59:36 -0500

Best US Real Estate Markets for 2009 - Tucson in Top Ten!

Hottest Buyers Markets by Housing Predictor

The hottest buyers housing markets are places you may find comfort in the worst housing crash since at least the Great Depression. The top 10 buyers markets listed by Housing Predictor at mid-year are markets that aren't necessarily big arts and entertainment centers, mostly found in smaller communities.

Amarillo, Texas takes the first position as the nation's top buyers market in 2009 with the highest likelihood of housing inflation over the next few years. Austin, Texas and Tucson, Arizona are the largest metro areas to be named to the list possessing the highest probability of growing through the recessionary economy over the next few years. As a high-tech hub, Austin will have what it takes to not only sustain the downturn but see home values inflate.

All 10 markets hold the promise of prosperity in the near future. In the current economic environment there are few areas of the country that will see appreciation this year. The markets named here represent cities that are the most likely to experience housing inflation over the next few years, despite the downward economy and are the best places forecast to buy real estate to make a profit.

The financial crisis dealt a severe blow to the national economy that will take many years to overcome. Unlike any other downturn in real estate since the Great Depression, markets have seen home values decline at record levels. Times have changed as a result, and real estate inflation will take years to return in most areas. Investing for the long term, considered to be 10 years or longer is the best protection for those who choose to take the risk.

The following list of high potential real estate markets may not appreciate in the short term, but have the highest likelihood of long term appreciation making them ideal for purchasing investment property.

Listed from the highest forecast appreciation to the lowest:

#1	Amarillo, TX
#2	Sioux Falls, SD
#3	Biloxi, MS
#4	Logan, UT
#5	Bismarck, ND
#6	Bozeman, MT
#7	Baton Rouge, LA
#8	Austin, TX
#9	Casper, WY
#10	Tucson, AZ

This body of this article has been republished from Housing Predictor

Long Realty Launches New Social Media Platform

James Servoss (Long Realty Company) — Mon, 05 Oct 2009 16:54:57 -0500

Long Realty Launches New Social Media Platform to Help Agents Connect

Long Realty has launched a revolutionary new agent-to-agent social media networking platform called Long Connects that enables their agents to connect to other Long Realty professionals in a safe, online environment. This is yet another way Long Realty is taking the industry lead to help their real estate professionals work smarter and more efficiently to provide the highest level of service.

Long Realty is one of the first real estate companies in the country to implement this type of internal social media platform. It is an entirely new way for their agents to interact, network, and get business done. By implementing this new online agent community, Long Realty is setting the technological standard to help further extend the reach of their agents. Agents can network with each other and share information more efficiently to help match buyers and sellers. Long Realty agents can also use this new platform to learn from each other and from the company by keeping one another up to date with the latest industry developments, newest marketing and technology trends, and best business practices. "Long Realty is constantly investing in our over 1,200 sales associates by providing them the tools and systems to grow their business and save time," says Rosey Koberlein, CEO of the Long Companies. "Long Connects uses the latest Web 2.0 technology to empower our team of real estate professionals to provide the best service possible while increasing their knowledge and level of productivity." "Long Connects uses a powerful social media technology suite in a secure intranet environment to connect our sales associates, Core Services teams and employees," states Kevin Kaplan, Vice President of Marketing and Technology for Long Companies. "Online forums, media galleries, micro blogging and community groups are just a few of the features that connect our professionals with each other in an online community focused on real estate business dialogue. While much of the real estate industry is still trying to understand social media, Long has made the progressive leap to integrate social media into our everyday business practice." Long Connects will enable Long Realty agents to develop their professional relationships, hone their real estate skills and grow their businesses into a highly efficient and effective business model that could help change the future of real estate.

Tucson, Arizona September Condominium Statistics

James Servoss (Long Realty Company) — Thu, 01 Oct 2009 15:38:15 -0500

Tucson, Arizona September Condominium Statistics

As of October 1, 2009 there are 384 condominiums for sale in Tucson. During the month of September 45 condos sold with a median price of $107,000. 384 condos with a monthly absorption rate of 45 condos per month gives us 8.5 months of inventory (amount of time it would take to sell our current inventory if no new properties became available). 6 months worth of inventory is what most experts believe is a balance market.

There are currently 9 condos Active Capa (Can Accept Purchase Agreement), 41 Active Contigent and 23 pending. Not all of these properties will close in October or at all, but based on the number of units currently under contract it is realistic to expect October's closings to beat the 45 we saw in September.

The condo market is fueled by winter visitors so as the weather cools sales will pickup and more properties will become available, 60 new condo listings in September.

If you would like additional information on Southern Arizona's condo market contact James Servoss at jservoss@longrealty.com.

Leadership Lunch with Sean Elliot @ Elle Wine Country Restaurant (Tucson, Arizona)

James Servoss (Long Realty Company) — Wed, 30 Sep 2009 16:57:20 -0500

Leadership Lunch with Sean Elliot @ Elle Wine Country Restaurant (Tucson, Arizona)

Sean Elliot, considered by many (including Steve Kerr) as the greatest Arizona Wildcat basketball player of all time.

Sean Elliot played high school basketball at Cholla High School, played for Lute Olson at Arizona where he was a consensus all American his Junior and Senior year and went onto a successful career in the NBA.

This great opportunity is open to both United Way Young Leaders Society members and nonmembers.

$20 for members and $30 for nonmembers.

Thursday, October 8, 2009 @ 11:30 am

Space is limited: RSVP to Krissy King (520) 903-3934 or youngleaders@unitedwaytucson.org

The United Way Young Leaders Society is an organization of passionate young professionals who are actively seeking ways to Connect, Serve & Lead to make a positive and lasting impact throughout our community.

CONNECT
with other "up and coming" young professionals & experienced business leaders.

SERVE
our community where we are needed the most.

LEAD
by example, engaged in unique YLS leadership & service opportunities.

WHO IS IT FOR?
Members of the United Way Young Leaders are:
- Community-oriented individuals or couples. Most of our members are in their 20's, 30's, or 40's
- Committed, compassionate and generous individuals who are dedicated to making a positive impact throughout our community by taking visible leadership roles in our community projects and serving on local committees and boards.
- Valued supporters of the United Way, through the generous sharing of time, talents, and financial resources.

Long Realty Company Offers Relief to Hurricane Jimena Victims

James Servoss (Long Realty Company) — Tue, 22 Sep 2009 16:44:20 -0500

Long Realty Offers Relief to Hurricane Jimena Victims

Long Realty is responding to the devastation that took place in Mexico over Labor Day weekend due to Hurricane Jimena. Long Realty branch locations throughout southern Arizona and Mexico are banning together to quickly gather donations of non-perishable food, household goods, clothes and money for the victims of Hurricane Jimena in Guaymas, Empalme and San Carlos, Mexico. Donations are being accepted at any Long Realty office now until September 21 at 9 am. After this time, the collective items will be delivered to The World Care Organization for distribute to relief stations in the affected area within Sonora, Mexico. "Our friends to the South have incurred many challenges this year. This natural disaster is beyond what our region is use to thinking about for storm damage. This is a major event in the day and hearts of our friends in Guaymas and San Carlos. It is time to reach out and offer our helping hands," said Long Companies' CEO, Rosey Koberlein. Those interested in giving monetary funds can drop-off a check made out to The Rotary Club - San Carlos Relief and write Long Realty Donation on the memo line. The cancelled check will be the donor's receipt. For more information about this project, please contact Jim Larkin at 520-918-3807. A detailed list of needed items and photos of the area can be found at www.worldcare.org.

Tucson Housing Report For September 2009

James Servoss (Long Realty Company) — Tue, 22 Sep 2009 16:39:26 -0500

Tucson Housing Report for September 2009

Get the full Tucson Housing Report

Second Homes: Tucson is the right size at the right price

James Servoss (Long Realty Company) — Sat, 29 Aug 2009 22:09:41 -0500

By Larry Olmsted, Special for USA TODAY

Tucson is Arizona's worst-kept second-home secret. Its population is less than a quarter of the Scottsdale/Phoenix metropolitan area, just two hours away, but to many, that's Tucson's appeal.

"Tucson is a larger version of Santa Fe, while Scottsdale is a smaller version of L.A.," Realtor Russell Long of Long Realty says. "We appeal to the well-educated, the artsy, golfers, and the athletic outdoorsy types." Home to the University of Arizona, Tucson is a college town, which offers buyers - many of whom come from the New York and Chicago areas - a dose of culture.

ARCHIVE: Find more second-home destinations

Tucson sits at a high elevation, and though summer is hot, the moderate season is longer than in other desert destinations. The Upper Sonoran desert is much greener and less barren, which fosters an active outdoor community and puts Tucson among the nation's best for road and mountain biking as well as hiking. The city is ringed by five mountain ranges and vast swaths of protected land, including Coronado National Forest.

"The desert is thick and lush, and skiing is just 45 minutes away," Long says. Less than 75 miles from the Mexican border, Tucson is also Southwestern in its food, art and culture, and its atmosphere appeals to many buyers from the East.

Most buyers choose resort communities in the mountain foothills north of the city center, which feature elevated views. "The foothills are most popular," Long says. "There are very nice new condos, villas and townhomes from $350,000 to $600,000." Typical for Tucson are large planned communities with developments at varied price points, along with golf courses and a resort hotel offering owners spa services and dining.

Buyers are divided about equally between those who split their year with a colder locale and those who come for weeks or weekends. Both will appreciate that median home prices have dropped 16% since last July.

A look at three Tucson neighborhoods

•Ventana Canyon: A 1,100-acre community in the foothills just north of the city, Ventana Canyon contains nearly 700 houses, three condo complexes, two golf courses, a tennis center, sports and dining facilities, and two hotels, the Lodge and the upscale Loews Ventana Canyon. "Buyers are usually golfers, but it abuts the National Forest, and once you go through the gates, you can bike, run and hike without ever going onto public streets," says Realtor Janell Jellison of Long Realty. "You can get a nice two-bedroom golf villa from under $500,000 and custom homes from $1 million" (ventanacanyonaz.com).

•La Paloma: One of Tucson's first second-home communities, La Paloma is close to Ventana Canyon and spans 790 acres with a 27-hole golf course and Westin hotel. The array of homes is very similar to Ventana Canyon. The turnkey golf villas are most popular with part-timers, Jellison says, but because there are fewer offerings, the prices are slightly lower, with villas from about $475,000.

•Dove Mountain: Tucson's hottest second-home enclave, this 6,200-acre development northwest of the city has 3,500 houses and condos. The most affordable section has townhouses and houses from $300,000 to $1 million. The Gallery is one of the nation's top golf communities, with two standout private courses and a limited number of golf cottages from $795,000 and houses at more than $1 million. Canyon Pass features houses on large sites from $1.7 million. The newest phase is The Residences at The Ritz-Carlton, a new luxury hotel with two golf courses opening in December (dovemountain.com).

Existing Home Sales Surge 7% in July

James Servoss (Long Realty Company) — Fri, 21 Aug 2009 14:49:45 -0500

Existing home sales surge 7% in July as prices continue to drop

By Alan Zibel, AP Real Estate Writer WASHINGTON - The U.S. housing market is rebounding quicker than expected, with home resales in July posting the largest monthly increase in at least 10 years as first-time buyers rushed to take advantage of a tax credit that expires this fall.

The National Association of Realtors said Friday that home sales rose 7.2% to a seasonally adjusted annual rate of 5.24 million in July, from a pace of 4.89 million in June. It was the fourth-straight monthly increase and the highest level of sales since August 2007.

Sales had been expected to rise to an annual pace of 5 million, according to economists surveyed by Thomson Reuters.

"The housing market, with today's strong rise in sales, has decisively turned for the better," said Lawrence Yun, the trade group's chief economist.

Sales of foreclosures and other distressed properties made up about a third of all transactions last month, down from nearly half earlier this year. In places like San Diego and Orlando, buyers are snapping up foreclosed properties at deep discounts, and real estate agents are pressing banks to release more foreclosures onto the market.

Those sales helped drag down the median sales price by 15% to $178,400.

First-time buyers must complete their sales transactions by the end of November to take advantage of a tax credit of 10% of the purchase price, up to $8,000. The real estate industry is lobbying Congress to get the credit extended.

"It would be unfortunate to see the momentum halted," Yun said.

The inventory of unsold homes on the market rose to 4.1 million, from 3.8 million a month earlier. That's a 9.4-month supply at the current sales pace, unchanged from June.

2009 Tucson, Arizona Condo Statistics

James Servoss (Long Realty Company) — Wed, 19 Aug 2009 12:25:13 -0500

2009 Tucson, Arizona Condo Statistics
	Total Sold	Median	Average	Total Sold	Median	Average
January	18	$ 118,500.00	$ 118,811.00	5	$165,000.00	$ 156,400.00
February	34	$ 132,500.00	$ 148,532.00	11	$180,000.00	$ 192,091.00
March	34	$ 114,203.00	$ 125,534.00	10	$150,000.00	$ 157,705.00
April	38	$ 109,900.00	$ 112,097.00	9	$150,000.00	$ 159,267.00
May	47	$ 103,500.00	$ 108,489.00	13	$160,000.00	$ 155,954.00
June	56	$ 101,500.00	$ 110,504.00	18	$149,500.00	$ 148,356.00
July	45	$ 114,400.00	$ 126,483.00	14	$180,000.00	$ 169,174.00

Tucson, Arizona Condo statistics for the overall condo market and statistics for North Tucson (Catalina Foothills). Sales have begun to pick up, which should continuing into the fall and winter with the arrival of snowbirds (winter visitors) back into town.

Do Condos Really Appreciate Slower Than Houses?

James Servoss (Long Realty Company) — Mon, 17 Aug 2009 16:40:53 -0500

Do Condos Really Appreciate Slower Than Houses?

Ever since I started in Tucson real estate in 2003 I have heard agents say that condos do not appreciate as well as houses. Just the other day I heard an agent in my office telling a client that they should not purchase a condo because it won't appreciate. I have listened to agents telling clients that condos won't appreciate for years, but have been unable to find data proving or disproving this statement. So I figured it was about time I did my own research to get to the bottom of the condo appreciation question.

Tucson, Arizona's median sales price of a condominium in 2003 was $90,000 and the overall median sales price was $143,000. For the first seven months of 2009 the median sales price for a condominium in Tucson was $109,900, a 22% increase in value. While the overall median sales price for the first seven months in 2009 has been $167,000, only a 17% increase in value. So during the past 6 ½ years Tucson condominiums have appreciated better than the overall market.

Median Condominium Sales Prices in Tucson since 2004

2003: $90,000
2004: $94,000 a 4% increase in value
2005: $138,000 a 47% increase in value
2006: $117,500 a 15% decrease in value
2007: $155,000 a 32% increase in value
2008: $137,000 a 12% decrease in value
2009: $109,900 a 20% decrease in value

Median Sales Prices in Tucson since 2004

2003: $143,000
2004: $152,000 a 6% increase in value
2005: $209,000 a 38% increase in value
2006; $219,000 a 5% increase in value
2007: $218,000 a ½% decrease in value
2008: $190,000 a 13% decrease in value
2009: $167,000 a 12% decrease in value

Looking at the statistics for the past 6 ½ years Tucson condominiums have appreciated and depreciated inline with the overall market. The slight discrepancies in the data can be attributed to apartment buildings being converted into condos.

In 2006 when the overall market appreciated, the median sales price of condos went down in value. This difference in value can be attributed to 25% of the condos sales for 2006 being sold in one complex (Sunset Foothills Condos) with a median sales price of $89,000. Removing the 93 sales in this West Tucson subdivision leaves the median sales price for condominiums in 2006 at $136,700.

In 2007 the overall market was flat in relationship to 2006 while condominiums saw 32% appreciation. 984 condominiums sold in Tucson in 2007 fueled by the condo conversion craze. Luxury apartment complexes in the Catalina Foothills (Pinnacle Canyon, Ventana Vista, Skyline Villas, Tierra Catalina), University of Arizona (Campus Walk & Casa Club) and Boulder Canyon Condos in Oro Valley all converted into condominiums and experienced tremendous sales success.

Since the peak of 2007 condos sales have slowed and values have come down. Current complexes (Rio Del Sol & Boulder Canyon) still being represented by the developer have dropped prices making it more difficult for Sellers on the resale market to command the prices they paid in 2007.

Like the rest of Tucson's market, condominium sales have begun to pick up. AARP Magazine and Business Week recently named Tucson, Arizona the number one retirement destination in the United States. With 76 million baby boomers nearing retirement I expect Tucson's condo market to continue to appreciate inline with the overall market, if not beat it!

James Servoss is an Associate Broker with Long Realty, Southern Arizona's leading real estate company.

Data was pulled from the Tucson Association of Realtors Multiple Listing Service.

Long Realty 2nd Quarter 2009 Housing Report

James Servoss (Long Realty Company) — Fri, 14 Aug 2009 12:47:54 -0500

Positive Sign: Home Sales Inventories Fall to Under 6 Months

James Servoss (Long Realty Company) — Thu, 13 Aug 2009 11:25:45 -0500

Positive sign: Home sales inventories fall to under 6 months' supply

'Parisian plaza' downtown

By Joe Pangburn, Inside Tucson Business
Published on Tuesday, August 04, 2009

In what may be one of the most positive signs yet that the Tucson residential real estate market is poised for recovery, Long Realty Research Center data shows inventories of homes priced under $250,000 have fallen below six months' worth.

"Months of inventory is the best matrix to look at when you're trying to see the temperature of a specific area or price point," said Kevin Kaplan, vice president of marketing and technology. "Obviously it is the lower price points that are bringing in buyers from foreclosures and sellers lowering the asking price on their homes."

Nevertheless, he said, a healthy and balanced market is considered to have around six months of inventory at a given time.

This Tucson map displays the months of inventory for each zip code around town. A ‘balanced' market should have around six months of inventory.
(Use arrows above to view more photos)

The market as a whole has around 5.7 months of inventory on sale, down from the 8.4 months at this time a year ago, according to Long's data.

The fastest movers are homes priced under $175,000 where there is 3.6 months of inventory based on June's sales levels. Homes priced from $175,000 to $249,999 have 5.4 months of inventory.

Above the $300,000 price point, the inventory numbers climb. There's a 7.5-month supply of homes in the $300,000 to $400,000 range, 11 months supply of homes priced $400,000 to $500,000, a 17.2-month inventory of homes in the $500,000 to $749,999 range; and two years' supply of homes priced $750,000 to $999,999.

Kaplan said Tucson is experiencing a significant increase in buyer activity, with new properties under contract in June up 57 percent over June 2008.

"We've really gotten to a more balanced healthy level with active to sold," Kaplan said. "Some markets even look a little overheated. It will take another few months to see if there gets to be an equilibrium and prices come up some to curb the high demand."

The higher demand Kaplan is referring to is mostly centralized in the southwest, southeast and central/east area of the region.

A data analysis of the first half of the year show homes listed in zip codes 85706, 85756, 85710, 85711, 85730, 85741, 85746, 85747 and 85757 have the highest percentage sales to total active listings, according to data from Tucson Association of Realtors.

The top three zip codes with the highest percentage of listings sold are 85757 on the southwest side at 40.2 percent (31 sold of 77 active listings), 85711 in midtown generally between Alvernon Way and Wilmot Road at 36 percent (48 sold of 133 active), and 85746 on the southwest side at 31.2 percent (59 sold of 189 active).

Those same zip codes also have some of the lowest numbers for inventory - just 2.4 months supply in 85757, three months in 85711 and 3.3 months in 85746, according to Long's data.

Southeast side zip code 85706 also has a low inventory supply of 2.8 months, though percentage of homes (88 of 292 active listings) meant percentage of sales was just over 30 percent.

"That south side of town has had a bit more of a price decline and probably has a higher foreclosure mix," Kaplan said. "We've seen huge increases in sales units there."

Louis Parrish, associate broker with Keller Williams Tucson Territory Realty, agrees.

"You would probably find that the higher percentage groups are also areas that have had the highest percentage of depreciation, highest rates of foreclosure and highest rates of short sale listings. When those neighborhoods are totally stabilized, the rest of our markets' current stabilization trends should accelerate."

Hotel Congress Plaza

Hotel Congress downtown is in the midst of making a plaza on a triangled-shaped area outside the north entrance of the historic hotel.

"We wanted to create the ambiance of a delightful Parisian plaza, with brick- on- sand pavers and lots of trees to provide shaded areas where the public can meet, eat, drink and enjoy the urban experience" said Shana Oseran, who with her husband Richard, own Hotel Congress. "In Europe, plazas are where people gather and enjoy life. We hope this will set a trend in downtown Tucson where these open spaces are so needed".

The new plaza will more than triple the outdoor seating available for patrons of the hotel's Cup Café and bar.

The triangular shaped parcel was originally a portion of East 10th Street. The Oserans purchased the parcel several years ago to be used as the hotel parking lot. The parking is being reconfigured into a V-shape extending into the north part of the triangle formed by Fifth Avenue on the west, Toole Avenue on the northeast and the hotel on the south.

The plaza, which can also be used as a venue for outdoor concerts and other events, was designed by architect Bob Vint of Vint & Associates. Jeff Rhody and Lisa Ribes consulted on the landscaping, and the project is being built by NAC Construction of Tucson.

Completion of the plaza is being timed to coincide with the Aug. 20 re-opening of the Fourth Avenue underpass.

New building in Vail

Old Vail Station LLC, 13190 E. Colossal Cave Road, Vail, has broken ground on a 4,330 square-foot building, 1,400 square feet of which is pre-leased as an internal medicine clinic operated by Dr. Syed Azam. Financing is provided by Southern Arizona Community Bank. The general contractor is Barker Morrissey Contracting.

Sales and leases

· In-N-Out Burger purchased a 22,000 square foot parcel of land at 7101 E. Broadway adjacent to a parcel they are leasing for a new restaurant. A new 5,000 square foot multi-tenant retail building will be constructed on the site. Commercial Retail Advisors represented In-N-Out Burger in the purchase.

· San Diego-based Sony Online Entertainment LLC signed a lease for 10,823 square feet of space in Tri-Pointe Plaza, 6367 E. Tanque Verde Road, from TriPoint Tucson LLC. The company develops multiplayer online computer games and expanded that division last year with the acquisition of Tucson-based Octopi. Sony is relocating to the new location this month. David A. Volk and Bruce A. Suppes of CB Richard Ellis represented the landlord. Bob Davis and Howard Kong of Grubb & Ellis represented the tenant.

· Bayada Nurses Inc. leased 5,882 square feet of space in Tri-Pointe Plaza, 6367 E. Tanque Verde Road, from TriPoint Tucson LLC. The home care nursing company is expanding its offices into the new space this month. David A. Volk and Bruce A. Suppes of CB Richard Ellis represented the landlord.

· Alter Ego Motorcycles LLC leased 3,822 square feet at 2002-2044 E. 14th St. from Michael and Jeanne Williams. Alter Ego offers custom motorcycle fabrication and custom parts. It moved into the space last month. Brandon Rodgers of CB Richard Ellis represented the landlord. Bob DeLaney of CB Richard Ellis represented the tenant.

· In-N-Out Burger signed a lease for 20 years of use of 8 N. Kolb Road from Broadway and Kolb LLC. The company plans to build a new 3,500 square foot restaurant on the space. This will be the chain's third restaurant in town. Commercial Retail Advisors represented the landlord.

· Dr. Ellen Elchler signed a lease for seven years for 2,660 square feet in Tri-Pointe Plaza, 6367 E. Tanque Verde Road, from TriPoint Tucson LLC. Eichler, an internal medicine physician, opened the expanded office in May. David A. Volk and Bruce A. Suppes of CB Richard Ellis represented the landlord.

· Dr. Ryan Donley of Vail Family Dentistry signed a lease for the use of 2,520 square feet of space for five years at 13190 E Colossal Cave Road in Old Vail Station from Old Vail Station LLC. Herb Havins of the Havins Co. Inc. represented both parties in the transaction.

· Cory G. Hicks and Associates leased 2,150 square feet in Tri-Pointe Plaza, 6367 E. Tanque Verde Road, from TriPoint Tucson LLC. The company is an asset recovery/collection agency that plans to relocate into the space in September. David A. Volk and Bruce A. Suppes of CB Richard Ellis represented the landlord. Tom Nieman of Picor Commercial real estate services represented the tenant.

• Dr. Syed Taqi Azam leased 1,400 square feet for a family medical practice at Old Vail Station Shopping Center, located at 13180 Colossal Cave Road from Old Vail Station L.L.C. Herbert Havins of The Havins Co. Inc. represented the landlord; Gary Best of Realty Executives represented the tenant in the transaction.

Tucson is the top go-to place for simpler living

James Servoss (Long Realty Company) — Mon, 27 Jul 2009 12:08:44 -0500

Tucson is the top go-to place for simpler living, says AARP

By Jillian Berman, USA TODAY

Looking to live the simpler life? Look no further than Tucson.

AARP The Magazine's Best Places to Live a Simple Life list, out today, bestows top honors on the city of 541,000 in the Arizona desert. Demographers used statistics from the U.S. Census Bureau and other sources to evaluate towns and cities on a variety of criteria, says Gabrielle deGroot Redford, AARP's manager of magazine editorial projects.

Once they came up with a list of about 25 cities, editors at the magazine picked the top cities in different areas of the country to make sure that every region was represented.

With the economy struggling and readers looking to spend less money, Redford says, the editors wanted to compile a list of places with a low cost of living that offered a wide range of activities.

"We decided we wanted to focus on places you could live simply," she says.

FIND MORE STORIES IN: Tucson | Bob Walkup

Redford says demographers and editors looked for places that are affordable and still have relatively low rates of unemployment. She added that factors such as the ability to walk and bike to work and the availability of "outdoor amenities" such as farmers markets and hiking trails also gave cities extra points.

And to make sure life is really simple, the team looked at the stress index of the cities, a measure used by demographers, which combines "rates of suicide and crime and divorce and depression and other factors that play into how stressed people feel living there," she says.

Another plus: if the city is close to a college or university.

"We looked for places with great education, in particular, colleges because colleges tend to offer classes for adults and a lot of amenities," such as lectures and sporting events, Redford says.

That Tucson is home to the University of Arizona helped boost it to the top.

"It's quite an affordable city in part, but it also has a lot going on about it," she says. "There are a lot of ways to enjoy living there."

She adds that residents rave about the city's multicultural feel. "They just feel like it's one of those great melting pots."

Mayor Bob Walkup, the self-proclaimed "mayor of paradise," says he wasn't surprised to hear his city topped the list.

"I believe that Tucson has the highest quality of life of any city in the country," he says.

Tucson's temperate climate and low crime rate make it an ideal place to live, he says.

"It - no kidding - has an abundance of sunshine year round."

Great Article in Forbes Ranking Pima County #3 Best Place to Retire

James Servoss (Long Realty Company) — Sun, 31 May 2009 18:26:28 -0500

by Lauren Sherman
Thursday, May 21, 2009provided by

These counties offer retirees comfort and opportunity, but also financial peace of mind.

Ed Coghlan's story is the same as so many others: Over the last year, the North Hills, Calif., owner of a corporate communications firm has seen his retirement accounts dwindle from the low seven figures to the mid-six figures. While Coghlan, 59, isn't destitute, that decrease does mean that he'll have to work longer than he expected.

"I planned on retiring at 65," he says. "Now I expect to be working until my 70s."

More from Forbes.com:

· In Depth: Best Places to Grow Old

· Cities Where Your Nest Egg Goes Farthest

• America's Best States to Live

Coghlan's not alone. The baby boomers--defined by the Census as those born between 1946 and 1964, and the largest and richest generation of Americans to date--have seen their savings depleted by 20%, or a total of $2 trillion during the current recession, according to Conemarra Partners, a New York-based consulting company. That means postponed retirement for many of them or, in some cases, settling down in spots far away from the tried-and-true options, such as Florida and Arizona.

Why aren't these sunny spots looking as sweet these days? It's a combination of the costs and the particular lifestyle retirees seek. Some retirees are now opting to wind down in college and commuter towns, or places where they have spent significant amounts of time in the past, according to Robert G. Kramer, president of the National Investment Center for the Seniors Housing & Care Industry (NIC), a market research firm in Annapolis, Md. These include Westchester, N.Y., and Lancaster, Pa.

Similarly, in Montgomery County, Pa., a commuter suburb on Philadelphia's affluent mainline, 14.9% of the overall population--778,048--is 65 and over. While it's not cheap to live here--average property tax on a home is $3,614 per year, according to the Tax Foundation, a nonpartisan tax research group based in Washington, D.C.--it's likely that seniors find comfort in the fact that Montgomery County is close to a major metropolis. It's also close to prestigious colleges such as Haverford, not to mention the parks and recreation that come with such proximity.

Nassau County on New York's Long Island possesses similar qualities as Montgomery, and ranks second on our list of the best places to retire. However, traditional, warm-climate options such as Pima County, Ariz., Palm Beach County, Fla., and Honolulu County, Hawaii, remain high on the list because they're affordable.

Behind the Numbers

While the counties that make our list aren't necessarily the most affordable, they do offer more of what retirees tend to want: easy access to medical care, a healthy local economy and the opportunity to enjoy a fulfilling second act. Westchester County, for example, attracts seniors with its picturesque towns and villages along the Hudson River, like Tarrytown and Sleepy Hollow. Many seniors who want to remain close to their New York City-dwelling children also choose Westchester.

In many instances, retirees are actually moving out of elder care facilities and into their children's homes. Sometimes, it's for the financial benefit of the retiree; others, it's for the financial benefit of the children.

"Anecdotally, we've noticed that seniors across the country are moving out of elder care facilities to move in with their children," says Kramer. "There are children who are now unemployed that need mom or dad's income to get by."

For those who want to settle down on their own, a place like Montgomery County, Md., offers a bit of everything: good weather year-round, a strong economy (with a 2008 average unemployment rate of just 3.2%, while the national average was 5.8%) and a decent number of senior citizens--12.5% of the population--so that the retiree can be surrounded by his or her peers.

Low Costs, Warm Weather

The coastal county of Brevard in Florida has one of the highest percentages of senior citizens in the country, and that's mostly due to the area's warm, tropical weather. But several warm-climate spots also offer affordability.

Even in notoriously expensive Honolulu County, average property tax on a home is just $1,295 per year, according to the Tax Foundation. And while Florida's and Arizona's economies have been hit badly by the real-estate bubble's burst, Palm Beach County and Pima County now offer good deals on prime properties.

And they're not out of reach for retirees, even as bad as the economy is right now. Dan Owens, director of the Charlotte, N.C.-based consulting firm the National Active Retirement Association, points out that while baby boomers aren't as rich as they were in 2008, 77% of all U.S. financial wealth is still held by those 50 and over.

In many cases, retirees can as easily use what's left of their savings to build a new life within a retirement community--such as Montgomery County, Md.'s Leisure World, a community of 8,500 seniors that includes an 18-hole golf course, indoor and outdoor swimming pools, restaurants, tennis courts and on-site medical care--as they can to embark on a second career. The retirement account balances may be smaller, but with 78 million baby boomers already retired or expected to retire over the next few years, the number of options for retirement relocation are only increasing.

Coghlan certainly hasn't given up on a cushy second act, even if it's a few more years away than he expected.

"I'm still invested in the markets," he says. "I'm expecting a comeback."

5 Best Places to Grow Old

1. Montgomery County, Pa.

Total Population: 778,048*
Percent of Population 65 and Over: 14.9%*
Median Income of Those 65 and Over: $41,323*
Median Housing Costs Per Month: $1,539*
Average 2008 Unemployment Rate: 4.4%**
Number of Hospitals, Clinics and Elder Care Facilities Per 10,000 People: 2***

This county encompasses several wealthy Philadelphia suburbs, including King of Prussia, home to the largest mall on the East Coast. And while this complex attracts shoppers from all over, most of Montgomery is more idyllic, including leafy college towns Bryn Mawr and Lower Merion Township, which is home to part of the 215-acre Haverford College campus.

2. Nassau County, N.Y.

Total Population: 1,351,625*
Percent of Population 65 and Over: 15.0%*
Median Income of Those 65 and Over: $48,848*
Median Housing Costs Per Month: $2,140*
Average 2008 Unemployment Rate: 4.7%**
Number of Hospitals, Clinics and Elder Care Facilities Per 10,000 People: 2***

Along with close proximity to New York City, 13 government parks, eight designated beaches and five marinas, benefits of retiring on Long Island's Nassau County include a low crime rate as well as the convenience of having 295 hospitals, clinics and elder care facilities in the area.

3. Pima County, Ariz.

Total Population: 1,012,018*
Percent of Population 65 and Over: 15.2%*
Median Income of Those 65 and Over: $36,635*
Median Housing Costs Per Month: $972*
Average 2008 Unemployment Rate: 5.1%**
Number of Hospitals, Clinics and Elder Care Facilities Per 10,000 People: 2***

The warm, dry weather of South Central Arizona first attracts retirees, but it's the parks and recreation that keep them busy. From the Coronado National Forest to the Starr Pass bike trails, physical activity is an important element of Pima County's culture. Most of the population surrounds the city of Tucson, where the subprime mortgage crisis has resulted in thousands of suddenly affordable homes.

4. Palm Beach County, Fla.

Total Population: 1,265,293*
Percent of Population 65 and Over: 22.1%*
Median Income of Those 65 and Over: $37,799*
Median Housing Costs Per Month: $1,250*
Average 2008 Unemployment Rate: 6.6%**
Number of Hospitals, Clinics and Elder Care Facilities Per 10,000 People: 4***

One of the most traditional counties for retirement in the country, the area's cultural and recreational points of interest are almost all targeted toward seniors, from five senior centers--offering everything from tap dancing classes to mahjong--to 43 beaches and parks. As Florida, like Arizona, was hit hard by the subprime mortgage crisis, buying a home or condo in the area is more affordable than it's been in years.

5. Honolulu County, Hawaii

Total Population: 905,034*
Percent of Population 65 and Over: 15.4% *
Median Income of Those 65 and Over: $53,020*
Median Housing Costs Per Month: $1,566*
Average 2008 Unemployment Rate: 3.5%
Number of Hospitals, Clinics and Elder Care Facilities Per 10,000 People: 2***

It's not hard to understand why retirees might choose Honolulu for its white sand beaches on the Pacific Ocean, numerous golf courses and unique landscape. And despite the fact that cost of living is often purported as high, the average property income tax on a home in Honolulu County is just $1,295 per year, according to the Tax Foundation.

Click here for the full list of the Best Places to Grow Old

*Source: U.S. Census Bureau
**Source: Bureau of Labor Statistics
***Source: Onboard Informatics

Complete Methodology

To determine which U.S. counties are the best places to grow old, we used several data points, three determined by the U.S. Census Bureau: the percentage of those aged 65 and over in counties with a total population of 500,000, median monthly housing costs and median income of those 65 and over in each of these counties. To get a sense of overall economic health, we used the most up-to-date unemployment-rate data for each county, provided by the Bureau of Labor Statistics. Finally, with data provided by New York market research firm Onboard Informatics, we determined the number of hospitals, clinics and elder care facilities per 10,000 people in each county.

There were 100 counties included in our methodology. We ranked each data point 1 to 100, and then averaged the rankings to procure a final ranking. The three most important data points--the percentage of those aged 65 and over, the median income of those 65 and over, and the number of hospitals, clinics and elder care facilities per 10,000 people in each county--were weighted to ensure our rankings reflected ideal places for retirement.

Onboard worked with its source partners--research firms InfoUSA and Total Living Choices--to identify and define these facilities and then standardize and match the results to create a consolidated county based content set.

Some See Signs of Life in AZ Home Sales (Arizona Daily Star 5/13/2009 by Josh Brodesky)

James Servoss (Long Realty Company) — Wed, 13 May 2009 16:58:13 -0500

Some see signs of life in AZ home sales

Market surges in Phoenix area; flat rate locally hints at bottom

By Josh Brodesky

Arizona Daily Star

Tucson, Arizona | Published: 05.13.2009

Home sales in Arizona rose by 50 percent in the first quarter of the year, the National Association of Realtors reported Tuesday.

But in Pima County home sales remained flat, and that's a good thing, several experts said.

The uptick in sales statewide has largely been fueled by foreclosures in Maricopa County that have driven down home prices there and drawn investors who are looking for bargains. So, to not see an uptick in home sales in Tucson during the first quarter reflects fewer foreclosures and a more stable market.

"The increases (in sales) have primarily been in the metro Phoenix market. Home sales in Tucson really have not moved up strongly like what you have seen in Phoenix," University of Arizona economist Marshall Vest said. "The Tucson market did not get overheated. The prices did not get nearly as far out of line. We don't appear to have nearly the overhang of foreclosed houses here."

The National Association of Realtors reported home sales fell in all but six states - Arizona, Nevada, California, Florida, Virginia and Minnesota, where buyers have been able to snap up foreclosures at deep discounts.

Sales more than doubled in Nevada, rose 81 percent in California and grew 50 percent in Arizona - signaling the worst may be over for those distressed states.

Meanwhile, home prices continued to fall, declining in 134 out of 152 metropolitan areas compared with the same period a year ago. The median sales price nationwide was $169,900, down 13.8 percent from a year ago.

But in Tucson, the median home price - the middle point in sales - has been flat, hovering around $165,000 for four out of the last five months. It was $164,000 in April, the Tucson Association of Realtors Multiple Listing Service's monthly report shows.

In fact, the market as a whole has been flat.

Not only has the median price been steady, but so have sales numbers: There were 2,268 home sales in the fourth quarter of last year, and there were 2,139 sales in the first quarter of this year. New listings have been dropping, but that is largely because people are not putting homes on the market.

"Flat is good. Flat means we are bottoming out," Vest said. "That's what we have been waiting for."

Home sales in Phoenix account for roughly 70 percent of the market statewide, so what happens there drives state numbers, said Jay Q. Butler, real estate studies director at Arizona State University.

"What's really picked up is homes that were foreclosed on are now being sold to investors," Butler said. Pima County "never really participated in the hyper-market. You were about ready to, but it ended, so you are lucky."

For the last few months, foreclosures have made up roughly 40 percent of home sales in the Phoenix market, driving down the median price to $125,000 last month for non-foreclosure resales, Butler said.

While Butler labeled the uptick in home sales encouraging - there were 9,100 recorded sales in Maricopa County in April versus 8,610 in March and 6,395 in April of last year - he was reticent to call a bottom, saying there are too many unknowns around employment, potential loan modifications and government programs to help distressed homeowners.

"A month does not make a trend," Butler said.

Foreclosure activity will play a key role in whether the housing markets in Maricopa and Pima counties have bottomed or will continue to fall.

In Pima County, foreclosure activity has picked up this year as 4,145 foreclosure sale notices have already been filed, and 1,594 properties have gone back to the bank, according to the Pima County Recorder's Office. Both numbers are significantly higher than in previous years.

"I think these numbers will probably stay at a high level," Vest said. "We now also have people who have lost their jobs because of the weak economy who can't service their mortgages."

But in the Phoenix metro area, foreclosures have fallen off, dropping to about 27 percent of all transactions.

"Foreclosure activity is down because a lot of lenders went into hiatus waiting for some of the modification and refinancing programs," Butler said. "The simple reality is that 2008 was so bad, that if we don't show positive increases this year, then we would really be in trouble."

But Rosey Koberlein, CEO of Long Realty Co., said she sees the uptick in sales in Phoenix coupled with the relative flatness of Tucson's housing market as signs that the bottom has arrived.

The combination of low prices, low interest rates and an $8,000 tax credit for first-time home buyers has created plenty of incentive for people looking to get into the housing market. It's a window, she said, that won't last long.

"I believe we have hit bottom, and we will be working our way back up from this bottom," Koberlein said.

Tucson Association of Realtors April

James Servoss (Long Realty Company) — Mon, 11 May 2009 16:07:54 -0500

Highpoints include the notable fact that inventory is the lowest

it has been since January '06 with just 6,890 listings. At this time last year, there were 8,800

or 21.78% more. The number of days on market is down in the 70's from the 80's; always a welcome

trend. Also, our year to date (YTD) sales units are down just 219 units from YTD '08.

The median sales price dropped less than one percent last month and is now $164,000. This is

down 15.90% from YTD '08. Home sales volume is down 5.86% from last year. There aren't any

remarkable changes in the March to April comparison. You'll notice that the inventory and

pending sales are moving closer together. There are those who say 4-5 months defines a trend

and this would be a good trend. When inventory is dropping and new sales are increasing we're

starting to eat into that over supply. Between that and the fact that new home permits are down

considerably, the housing supply is coming closer and closer to demand.

These statistics should reassure you as well as your clients. Typically prices don't continue to fall

when supply is on the decrease in relation to demand. While we don't pretend to have a crystal

ball we do have hopeful statistical indicators. It isn't the time for "irrational exuberance" but then

again, was it ever?

Bonita Ridge YouTube Video

James Servoss (Long Realty Company) — Wed, 22 Apr 2009 17:21:10 -0500