tucson market: Tucson AZ Real Estate Market Report - September 2008 - 09/24/08 09:19 PM
Like the rest of the country, the Tucson Real Estate market has taken its share of lumps over the last year or so. However, we have been seeing a reduction in inventory over the past nine months, which is the first step towards a recovery. Will we continue this trend or … (1 comments)
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tucson market: August 2008 Tucson Homes Sales Statistics and Prediction - 09/18/08 11:27 AM
Tucson home sales for August were nothing spectacular, yet not horrible considering the current market. TAR/MLS reported 903 official sales. Which was 13 sales below what I predicted eight months ago. However, not all the numbers were in when the monthly report is prepared. As of today there were 917 sales. … (0 comments)
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tucson market: Tucson AZ Real Estate Market Report - August 2008 - 09/04/08 04:27 PM
So how's the market? That seems to be everyone's favorite response when they find out I'm in real estate. I appreciate the question because it means that people want to know from a local expert instead of relying solely on the media for information. The market was kind of blah for … (1 comments)
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tucson market: How Banks are STILL Contributing to the Declining Market - 09/01/08 02:36 PM
Did you know that banks are continuing to contribute daily to the declining market? Even though they have tightened their belts in terms of loaning new money, I see them squander their investors' money on a very regular basis. Here's how:
The Short Sale
At this point, short sales are about … (4 comments)
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tucson market: Tucson Market Experiences a Hiccup - July 2008 - 07/28/08 06:01 PM
For the past several months we have watched the Tucson real estate market slowly recover with the percentages of homes coming on the market decreasing (as compared to a year ago) while the percentage of pending contracts has been steadily increasing. This month, the market experienced a bit of a hiccup. … (3 comments)
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tucson market: Tucson Real Estate Market Report- June 2008 - 06/19/08 02:57 PM
Well, we have reached the dog days of summer, the time each year when I question my sanity for living in this sun scorched city. As I eagerly await the arrival of the monsoons and the cooling temperatures that they bring, I will take a minute to talk about what is … (0 comments)
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tucson market: May Real Estate Sales Report For Tucson - 06/11/08 08:44 AM
My prediction for May 2008 Tucson real estate sales was 1,035 sales. The officially reported number or 1,025 (collected June 4th) was very close. Checking this morning there were 25 additional sales not reported on time which increases the number of sales to 1050. READ MORE
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tucson market: Tucson Real Estate Preliminary May Sales Report - 06/03/08 08:40 AM
Will we exceed the predicted sales of 1,035 for May? We will know in a matter of days. The good thing is sales are continually increasing, which is good news for Tucson real estate. Bad news for those who wait for woulda, shoulda, coulda. Read More
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tucson market: Home Selling Strategies - 05/29/08 02:34 PM
In a market where buyer confidence is slowly returning it is important to have a strategy if you expect to sell sooner than later. The Tucson real estate market is still reeling, but, not as much as Phoenix, Stockton CA or other areas. Most home sellers, even in the Tucson Real … (1 comments)
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tucson market: Tucson Real Estate Market - Steady Progress May 2008 - 05/19/08 06:42 PM
As we enter the prime homebuying season this year, I see a lot of small improvements in the market but no drastic changes. This is probably a healthier way to recover than suddenly having tons of buyers snapping up properties right and left. That would be exciting, but would actually add … (2 comments)
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tucson market: Tucson Real Estate April Sales Report - 05/13/08 10:18 AM
The official numbers are out from the Tucson Association of Realtors. Tucson home sales volume increased by 5.86% and total home sales increased by 8.1% over that of March 2008. Good news for home sellers and the local market. The numbers of available homes decreased by 2.37%. Indications are there to … (0 comments)
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tucson market: Tucson has plenty of Short Sales & hardships for sellers as well as buyers - 05/11/08 11:47 AM
Don and I are full time RE/MAX associates in Tucson, Arizona and we sell about 50-60 homes a year. This year we have seen an increase of about 15 - 20 percent under 250k in short sales and foreclosures. That's a tough market! When we have our initial consultation with our … (0 comments)
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tucson market: Tucson Real Estate - Should I Buy or Should I Wait - 05/10/08 08:26 PM
Almost daily someone asks me, “Should I buy a home now or should I wait for the market to change?” The answer is, “Now is a great time to buy a home.” Why?Home prices have remained stable in some areas and dropped below levels before the housing market frenzy in … (0 comments)
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tucson market: Has The Housing Market Begun To Correct Itself? - 05/07/08 12:17 AM
Everybody wants to know when the housing market will bottom out so they can get the best price. The truth is by the time anyone figures out the puzzle recovery will have already begun. An interesting article from the Wall Street Journal suggests that we on our way to a better … (6 comments)
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tucson market: April 2008 Tucson Preliminary Sales Report - 05/02/08 10:32 AM
April was a pretty good month for sales. As of this writing there have been 907 recorded home sales through the MLS. Of course, reporting so earlier not all the sales have been reported to the MLS. So we can expect the numbers to be a little higher. The lowest sales price … (1 comments)
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tucson market: Tucson Market Recovery Continues - April 2008 - 04/12/08 04:25 PM
For the last couple of months I have been predicting that the Tucson Real Estate Market is on its way to a recovery. The most recent numbers (March 2008) confirm that we are indeed headed in the right direction. From working in the market, I can also tell you to expect … (2 comments)
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tucson market: Tucson Real Estate Market Report - March 2008 - 03/24/08 08:28 PM
Ever since January of 2008, real estate agents in the Tucson area have been noticing that business is picking up. It turns out that the numbers are now starting to match our experiences out on the streets.
Median Sales Price
You may have noticed in the news recently that the median sales price … (1 comments)
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tucson market: If There's A Recession On---Why Are There So Many Cash Buyers Right Now? - 02/23/08 10:06 AM
Driving to the office the other day, bored with the usual morning chatterboxes, I was surfing the old radio dial when I ran across a local guy talking with great vehemence about the "economic idiots" spewing doom & gloom at every opportunity.
He went on to castigate expert after expert, refuting their … (49 comments)
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tucson market: Tucson Making It Through Recession - 02/05/08 08:30 AM
An unusual means for measuring the economy is employment through the ADC. When I retired in 2000 we had a low of 10% staffing shortage in some complexes, and as high as 22% in others. Speaking last week to a friend who recruits, the staffing shortage statewide is 2%. We used to … (2 comments)
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tucson market: Tucson Real Estate January 2008 Preliminary Home Sales Report - 02/03/08 12:11 PM
On January 18th I predicted that residential home sales for January should fall between 546 and 610. As of February 1, that number is 568. Mid point within the range. Not bad for predicting. Reporting will continue for the next couple of weeks. The official numbers will be collected on or … (0 comments)
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tucson market: Tucson AZ Real Estate Market Update - January 2008 - 01/22/08 10:27 AM
We are still hearing some doom and gloom forecasting from the national media, but here and there we are also beginning to hear snippets of positive reporting, especially in our local Tucson area. So what's going on? Are things really turning around? Let's look at the numbers.
Sales Volume
Comparing numbers in December … (0 comments)
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tucson market: Tucson Golf Property Sales - 01/20/08 11:16 AM
Tucson is a retreat for golfers who love to play year round. There is no question that my niche is golf properties and golfers. When writing monthly reports about home sales I’ve had a desire to focus more toward golf properties. I finally found the time to pull up statistics, … (1 comments)
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tucson market: December 2007 Tucson Home Sales - 01/18/08 01:28 PM
Tucson Association of Realtors December report is finally out. Residential home sales did decrease below that of November with 682 officially reported sales for December; the official number was 759 sales for November. The real number for December sales is higher at 762. So much for Realtors reporting on time.
… (0 comments)
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tucson market: Slow But Steady - Tucson Real Estate Market Analysis - 01/07/08 11:15 AM
While the national media still reports very bad news for the real estate market, our local Tucson market continues to stabilize slowly but surely. It is still a fantastic time for buyers because our inventory is still so high. However, I predict that within the next 12 months we will see … (1 comments)
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tucson market: December 2007 Preliminary Tucson Real Estate Report - 01/03/08 05:31 PM
There is no doubt that 2007 turned into a Buyer’s Market. December was a reflection of previous six months of real estate sales. Not as good as many homeowners and Realtors would have liked. Not immune to the events of the year. But, better than many parts of the country.
Tucson … (0 comments)
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tucson market: Tucson Real Estate 2007 In Reflection - 12/31/07 05:51 PM
Granted the real estate market for Tucson took a big hit over the past year. November 2006 predictions didn’t come to light. I even stopped trying to predict mid year. It just got too crazy. Doom and gloom sayers latched onto the declining market like a cancer to an open wound. … (0 comments)
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tucson market: November Home Sales 2007 - Tucson Real Estate - 12/20/07 04:50 PM
First things first, Happy Holidays to Everyone. Tucson Association of Realtors October report is out. Each month it comes out later and later. Sales did increase over October, the official number is 759 sales for November. October had 790 reported home sales through the MLS. Buyer confidence is still lower than … (1 comments)
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tucson market: More Thoughts on the Bush Administration's Rate Freeze Plan - 12/08/07 10:02 PM
A few days ago, I made some comments about the new rate freeze plan based on the details that were out at the time. See Help on the Horizon for Sub-Prime Borrowers? Now that more details are known, I am a lot more skeptical about the positive effect that this plan … (6 comments)
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tucson market: Help on the Horizon for Sub-Prime Borrowers? - 12/06/07 01:13 AM
The problem with the housing market has certainly reached a crescendo in recent months and has gained the attention of the Bush administration recently. The current suggestion is to put a five-year rate freeze on sub-prime mortgages that are currently being paid on time at introductory rates, but are scheduled to … (29 comments)
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tucson market: Tucson Market Continues to Show Improvements - 11/15/07 11:32 AM
Although we are still hearing doom and gloom in the national media regarding the housing market, locally things are continuing to improve. The Tucson real estate market is still not where it was 2-3 years ago, but it is no longer in a decline either. Homeowners who have seen their values decline over the past … (2 comments)
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tucson market: How to Talk to Your REALTOR about Why Your House Isn't Selling - 11/01/07 01:36 PM
Here in Tucson, AZ, like the rest of the country, the market has slowed down and homes are taking longer to sell. Inevitably, I have had more than one person ask me why I think their home isn't selling. Unfortunately, these people have had their homes listed with another REALTOR. I … (3 comments)
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tucson market: Tucson Real Estate October 2007 Mid Month Home Sales Report - 10/26/07 09:01 AM
Looking at the Tucson real estate sales from the first of October to the 20th gives a healthier picture than September’s mid month report. Positive news for the market. Closed real estate sales rose from the 385 in this time frame in September to 403 for October. A step in the right … (0 comments)
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tucson market: Real Estate Market Road To Recovery - 10/19/07 09:44 AM
Recovering The Real Estate Market will take a joint effort from home buyers, lenders, Realtors and homeowners. Lets start with homeowners who don’t want to sell their homes, but have to because of increasing interest rates from ARM’s, and Lenders who hold the note. I have seen too many homeowners … (2 comments)
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tucson market: Tucson Real Estate September 2007 Sales Report - 10/16/07 05:49 PM
Tucson Association of Realtors has finally finished their report. I am inclined to agree with Dave Smith that TARMLS should be able to get this information our much faster. I like Dave’s perspective on the market, particularly in the northwest. I tend to take a slightly different, yet similar view.
… (0 comments)
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tucson market: Tucson Real Estate Preliminary Home Sale Report September 2007 - 10/04/07 10:59 AM
Tucson real estate sales for the month of September dropped lower than they have been in over 10 years. In 1996 home sales were 623, the following year they jumped to 728. The September 2007 reported real estate sales in and around Tucson was only 683. Much lower than anyone could predict. … (0 comments)
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tucson market: Zillow Zestimates Make Up Your Mind - 09/26/07 08:51 PM
When I listed my clients beautiful home Zillow’s Zestimates priced it a $189,000. My clients priced at $196,000. just below the comps. When they dropped the price to $189,900, Zestimate dropped to $186,700. Now that they are dropping the price to $186,900, Zestimate comes back with a $180,350. Yet the … (5 comments)
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tucson market: Buyers Wanted - September 2007 Tucson Home Sales Below Averages - 09/26/07 08:49 AM
I do not like doom and gloom, however, reality is reality and honesty is the best policy. If September’s first 20 days of real estate sales in greater Tucson is an indication of the full month, sales will be much lower than anticipated. By August 20th there were 592 recorded sales in the … (0 comments)
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tucson market: Buyers!! Jump on in - the water is great! - 09/18/07 06:43 PM
Economic woes and a cooling real estate market have created the perfect situation for those interested in investing in real estate. Why? There are actually several factors contributing to the opportunity available now.
Note that for this discussion, I will be referring only to the Tucson real estate market. While markets around … (4 comments)
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tucson market: Who Wants To Know About the August Real Estate Report For Tucson? - 09/14/07 01:24 PM
Tucson Association of Realtors released their official report for August 2007. Reported home sales were much slower than I anticipated with an official number of 1,019. I checked this morning and the adjusted sales were 1,030. I adjusted my projection at the beginning of the month to between 1,100 to … (1 comments)
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tucson market: Tucson Real Estate Preliminary August Home Sales Report - 09/01/07 08:19 AM
We all know this is just a preliminary report awaiting the official report from the Tucson Association of Realtors Multiple Listing Service. Its nice to know up front though what we may expect. The information in this report is what is available as of August 31, 2007. I double checked July’s sales and the … (0 comments)
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tucson market: Tubac debate! What Does It Have To Do With Tucson? - 08/13/07 09:42 AM
Tucson News & Events I read an article in the Arizona Daily Star this morning about Tubac, title Tubac debate, stay rural or go suburban. So, my wife and I took a trip to refresh our memory. I remember my late father-in-law talking about the areas of Tubac, Tumacacari, and Arivaca. … (0 comments)
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tucson market: How is American Home Mortgage Effecting Tucson? - 08/05/07 09:29 PM
I am not a mortgage expert, nor do I pretend to be. My primary concerns are resale of existing homes, not new construction (SAHBA can report on that), whether my clients are making a good decision with the home they purchase, and whether the sellers who hire me can sell their … (2 comments)
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tucson market: Tucson Real Esate Market - July Home Sales Preliminary Report - 08/03/07 07:07 AM
Enough of the sales numbers are in to make a preliminary report. I predicted 1,253 sales for the month of July, so far 1,050 sales have been submitted. The official TAR/MLS Report won’t be out for a couple of weeks. The signs are encouraging. As my faithful readers know, I don’t … (0 comments)
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tucson market: Tucson Real Estate Interest Rate and Sales Analysis - 08/02/07 03:35 PM
I was challenged by a colleague to interpret how interest rates may be effecting sales in Tucson. So I gathered information dating back to January of 2004 through June 2007 to see if there is a noticeable correlation. It took me a while to dust off my books and read old … (0 comments)
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tucson market: Manufactured Home Loans - Are They Getting Tougher To Get? - 08/01/07 06:22 PM
Tucson Real Estate In our weekly office meeting the managing Broker mentioned that manufactured home loans may be harder to get. A few of the big names pulled out of conventional lending for manufactured homes. There is a definite need for manufactured home lenders. I have heard this before and wanted to … (5 comments)
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tucson market: TUSD starts August 14th - Do you need to move by then? - 07/31/07 01:11 PM
The Vail School District has already started classes, but Tucson Unified School District (TUSD) doesn't start until August 14, 2007. That's a full two weeks away and I am offering to help you get into your new home during that time period. If that sounds overly optimistic, I am currenlty finishing … (4 comments)
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tucson market: Tucson Real Estate - Home Selling 107 - 07/30/07 12:28 PM
It’s not over, there is still a lot more to do. Your home is on the market, buyers are looking at it. What’s next? Now we are preparing for closure. Again, this is written for a seller using a full service REALTOR® in Tucson, Arizona. Discount, FSBO or sales in other … (1 comments)
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tucson market: You’ve Got To Be Kidding - 07/27/07 05:59 PM
You’ve Got To Be Kidding, while going through some MLS sheets I am amazed that some homes are expected to sell. This one, “ABSOLUTELY DO NOT SHOW OR CALL MONDAY THROUGH WEDNESDAY, WITHOUT EXCEPTION!!!!!!!” got my attention. If a buyer comes into town Sunday night or Monday and is leaving … (5 comments)
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tucson market: Tucson Real Estate - Home Selling 105 - 07/23/07 02:06 PM
The next step for selling your home is getting your home on the market for buyers to see. This article is being prepared with a Full Service REALTOR® in mind. Who you select as the full service REALTOR® depends on what you value. Keeping in mind that selling a home should … (0 comments)
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tucson market: Tucson Real Estate Report January-June 2007 - 07/20/07 12:18 AM
Average Prices Average sales priced of homes in the Tucson area increased during the first half of 2007. The Doom Sayers would like to see prices decrease to support their beliefs that the market is not strong. The numbers prove otherwise. There is every indication that the Tucson real estate market … (0 comments)
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tucson market: Tucson June 2007 Real Estate Market Report - 07/16/07 09:56 PM
Tucson Association of Realtors released their official report for June 2007. Up front is good news in the reduced number of homes on the market. Down to 8,665 from the 9,721 listings in May. That’s a 1,056 homes that left the market by being sold, expiring or through withdrawal. Great news, … (2 comments)
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tucson market: June 2007 Tucson Real Estate Report - 07/10/07 10:01 AM
Home sales in June remained consistent with the sales of March, April and May. No significant decline beyond traditional seasonal changes. Though listings remain high and Tucson remains in a Buyers Market, overall sales have not faltered. Though 1,299 sales falls 40 short of predicted sales, it falls right in line with … (0 comments)
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tucson market: Buying a Home in a Down Market - 07/07/07 05:58 PM
On its face, buying a home in a down market seems like a piece of cake. You just go in, make an offer and buy a home, right? Well, sometimes it is that easy but not always. We have been seeing headlines like Paulson: Housing 'at or near bottom', which can … (0 comments)
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tucson market: Tucson Real Estate - Home Buying 107 - 06/29/07 09:30 AM
Tucson Real Estate The final step in buying a home is Close of Escrow (COE). This is where everything comes together. At COE all the instructions from the buyer, seller, lender, listing agent, and selling agent come together into what is called Closing Documents. The offer, counter offer, buyer inspection notice, … (0 comments)
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tucson market: Selling a Home in a Down Market - 06/26/07 08:55 PM
For the past several years the housing market has been fast and furious. With interest rates at their lowest point in decades, many more consumers were able to become homeowners or able to buy more home for their housing dollar. However, many of those loans were adjustable and are now adjusting … (1 comments)
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tucson market: Housing Market and Predictions - 06/25/07 11:14 AM
Predicting the housing market is a combination of subjective and objective evaluations. It's like looking into a crystal ball. Subjectivity From Wikipedia, the free encyclopedia Jump to: navigation, search In reason, subjectivity refers to the property of perceptions, arguments, and language as being based in a subject's point of view, and … (1 comments)
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tucson market: Tucson's May Real Estate Report - 06/07/07 08:34 AM
Tucson's May home sales remained close to the number of sales in March and April with an unofficial 1369 sales. Real estate sales did fall nearly 10% short of what I predicted for the month. The number of homes for sale remains high with 10,290 homes for sale; a slight drop from April. … (0 comments)
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tucson market: The Secret About Solar Homes - 06/03/07 12:53 PM
The secret about solar homes isn't really a secret in Tucson. Solar homes have been in Tucson, Arizona for some years now. The most prominent communities are Civano and Armory Del Sol. Both are products of forward thinking by a gentleman named John Wesley Miller. A very private man who sees … (1 comments)
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tucson market: What Every Realtor Should Know About Old School New School - 06/02/07 09:01 AM
What every Realtor should know about Old School and New School. In a time when many Realtors are scrambling to make sales in an over supplied Buyers Market there is a need to mix old school with new school. A significant number of Realtors today have lived off the fat of … (6 comments)
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tucson market: April Home Sale Update For Tucson - 05/20/07 08:21 AM
I reported Who Else Wants To Know About Home Sales In Tucson? on May 11th about the available statistics at that time for homes sales in the Tucson area. Better numbers are in. Actual home sales were 1,329. Though lower than I anticipated, when compared to previous years, excluding the frenzy years, … (0 comments)
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tucson market: You Can Sell Homes In A Buyers Market Tucson - 05/17/07 06:14 AM
You Can Sell Your Home In A Buyers Market Tucson
What can you do? With a significant number of homes falling into foreclosure the selling of your home only gets more challenging. If you think foreclosures don't effect you think again. Buyers are salivating over the deals they will get from short sales … (2 comments)
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tucson market: Who Else Wants To Know About Home Sales In Tucson? - 05/12/07 12:04 AM
Home sales may not have been as high as I predicted. But, Tucson's real estate sales for April remained higher than sales prior to the frenzy of 2004 and 2005. Good news, January through March sales were higher than reported. How close are my predictions? January 966 predicted, 971 sold; February 1,047 predicted, 1,022 sold; … (2 comments)
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tucson market: Price, Price, Price. What Are Some Sellers Thinking? - 05/06/07 09:30 PM
Attune to location, location location, is pri$e, pri$e, pri$e. The Tucson real estate market is overwhelmed with overpriced homes. Two examples, first is a home I showed my clients yesterday. Lovely homes, well maintained, great location. Everything in this gated community in Oro Valley is selling for an average of $153 … (0 comments)
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tucson market: Housing Recovery 2007 - Tucson - 05/02/07 03:55 PM
Housing Recovery Likely This Year; Timing Unclear was the headline for an article in the Arizona REALTOR® May Issue. What does this mean to the Tucson real estate Market? Tucson has always remained stronger than most parts of our fine nation. I have been watching sales daily and they have been on track with … (0 comments)
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tucson market: Starter Home With a Garage - 04/25/07 04:30 PM
Ideal starter home. Newly constructed TEP Energy Efficient Guarantee. Stained concrete floors, heat pump, hoc/trowel interior, recessed lighting, A/C, 3 bedrooms, 2 full baths with laundry closet for full size appliances. Constructed by AZ Roc licensed General Contractor. Contractor and manufacturer warranties convey. This is 823 Lot B. For more Information on … (0 comments)
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tucson market: Tucson Real Estate Market Remains Strong - 04/24/07 11:53 AM
While going through my real estate reading this morning I read that the National Association of Realtors reported an 8.4% decline in the sale of homes for the first quarter. So, the first thing I did was to jump into the Tucson Multiple Listing database and check our local numbers. Chicken Little, … (0 comments)
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tucson market: Tucson Real Estate March Report - 04/20/07 03:10 PM
March was a good month for Tucson real estate. Sales increased by over 23% compared to February with 1,246 homes sold. The average price of homes sold increased as well from $258,377 to $276,486. The median price for homes sold was $222,700 for March compared to $218,000 for February. The down … (0 comments)
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