Word of the day "Snow bird"

This morning I noticed that the Merriam Webster online word of the day is "snow bird" , quite an appropriate term right now for any states located in the "Sunbelt" region of the country.

Merriam Webster defines snowbird as
1. any of several birds seen chiefly in winter
2. one who travels to warm climates for winter

Seems that snowbirds (the human snowbird that migrates South for winter) have been around since 1900. The term was first used to describe men who enlisted in the armed forces to get food and clothing in the winter months and then deserted as the warm Spring weather approached.

In the past two weeks I've really noticed the influx of snow birds in Tucson. Traffic is starting to get heavier and I've seen license plates from everywhere but California, Nevada, New Mexico,Utah and Florida. Every rental property in SaddleBrooke and Sun City is reserved for the next four months and lines are much longer at the grocery stores. We'll continue to see this until April when Tucson's temperature start to pick up and everyone heads back to their homes for summer.

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Are you ready to run?

It's almost here!

Only three days to the Tucson marathon and half marathon! I'm full of that anxious anticipation and dread that always rises a few days before the race. I haven't gotten a "cool" hat to wear, so I guess I'll go with the black nylon running hat I always wear. I haven't decided if I want to get the fuel belt; I've survived without it before but I usually spill water down the front of my shirt because I insist on running with the paper cup while I drink. I need to go by the running shop and pick up a few energy gel packs for the race, and I need to check out the old Ipod to make sure it's juiced up with the appropriate motivational tunes. Van Halen, Boston and The Killers seem to keep me moving. Last but not least, the next two days will be a "carb fest"; lots of pasta, bananas and water to prep my body for the race.

The thing I dread the most about this race is waiting in the port-o-potty lines prior to the start. Several thousand runners full of Gatorade and coffee, jumping up and down frantically to keep warm. Just can't wait.....

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A wise investment for those with college students

Quite a few of my clients have been parents of University of Arizona college students, looking for housing options other then what's found on the campus itself. When you look at the cost of attending U of A, it runs about $2600 (Spring 2008) for seven credit hours if you're a resident. If you're a non-resident the price jumps to $8200. Ouch! When you think about adding housing costs to that total, it can be downright depressing for some parents. The cost of housing on campus can easily add up to more then the tuition, and apartments located around the university will run a minimum of $500 monthly for approximately 500 square feet of living space.

When you start to evaluate what you'll be spending over a four year period for dorm or apartment costs, it's easy to see why some parents decide to invest in a home for their children to live in while they complete their education. Below is a chart of some of the double occupancy resident halls costs; for the full list of fees visit 2007-2008 Resident Hall Rates

Looking at the chart you'll see that even the least expensive housing costs about $4200 for both Fall and Spring semesters. Parking permit costs start at about $300 annually. The full list of attendance costs can really be overwhelming.

Many parents and students I've worked with decided that instead of throwing money away in temporary housing, they'd invest in a Tucson property, gain equity while it appreciates, and teach their kids about buying and financing a home. Most buy homes with 3-4 bedrooms and find a few room mates to chip in on rent and expenses. Although the real estate market is in a slump everywhere, Tucson's housing market remains stronger then most because we're a destination city. We continue to grow rapidly due to the influx of retirees and college students. Our city also draws in a large number of workers that relocate here to work at any one of Tucson's top employers including Raytheon Missile Systems, Tucson Unified School District, Honeywell Aerospace and Carondelet Health Network. This constant growth brings more home buyers to Tucson, and resulted in a 68% increase in home prices since 2000. Home inventory in Central Tucson is high right now, with over 1000 properties available. It's a great time to take advantage of competitive pricing and sellers that are willing to negotiate!

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Important factors for second home buyers

Just after the holidays is about the time I begin to receive massive inquiries from people looking for vacation/second homes in Tucson. It's not surprising that their interest peaks about this time of year; most of them are living in cold, wet climates and see Tucson's dry, mild temperatures as perfect for rejuvenation and relaxation. Whether you're looking for the haven you plan to retire in or a home where you'll spend your vacations, it's important to think about what features and amenities are important to you now as well as in the future.

Finding the "perfect" second home is no easy task, especially when you need to think about what your future wants and needs may be to ensure you make a wise investment. Although our personal tastes may change with time, we're generally drawn to communities that fit our lifestyle. Some of the most important factors to consider when buying a second home include -

Cost of living - It's amazing to see the difference in cost of living between cities. This difference can have a major impact on how much you enjoy your time in your new home. Make sure you review the cost of living to see if you can afford to live there while enjoying the lifestyle you planned so long for. Check out a cost of living calculator to see what you'll be paying in Tucson.

Weather - This is one area where Tucson stands out. We see 325 days of sunshine a year; who wouldn't love that? Still Tucson does see some hot weather that might not appeal to everyone. Even if you only plan on living in your second home part time, it's important to think about what the weather is like throughout the year. In the Midwest you'll see the occasional tornado and flood, and in Florida you might be prone to hurricanes. Besides being scary and inconvenient, these weather forces also impact your insurance costs.

Health care - If you're searching for the home you plan to retire in, access to adequate health care could be one of your top priorities. It's important to know if there are good hospitals, clinics, specialists and dentists in the area you plan to live, so research is key to ensuring you'll be close to the facilities you may need. The American Hospital Directory lists all Tucson hospitals and their locations.

Outdoor Activities - Are you the outdoorsy type that enjoys walking and hiking, or spending the weekend at the lake on your boat? It's important to ask yourself what your favorite outdoor activities are so that you buy a home that's close to what you love to do. In Tucson you can hike in one of our desert's beautiful canyons, coast on endless bike routes and paths, or spend the day playing a round on any one of Tucson's championship golf courses. During the winter you can even find skiing on Mount Lemmon. But you won't find any lakes close by! Before you buy, find out if the activities you love are close by so you can continue to enjoy them for years to come.

Active Social Life - If you enjoy having an active social life it's important to look at homes in communities that promote social bonds and togetherness. Active Adult communities are great for meeting and socializing with neighbors that share similar interests by participating in various clubs and organizations. It's also important to have easy access to amenities like restaurants, entertainment and shopping so you'll have more activities to share with your new friends.

Property Tax Rates - Property tax rates vary from city to city and state to state, and it's an important factor to consider before you buy.

Covenants - These rules and restrictions are passed on to buyers when they purchase a property, but you can obtain a copy before you decide to buy. They're common in almost every Tucson community, so it's a good idea to review the bylaws beforehand to see if there are any rules you don't feel you can follow. If you don't like the rules then cross that community off your list and move on.

Safety - This is one of the most important factors to consider when you're searching for your home. Too often buyers fall in love with a home and jump into the purchase without finding out anything about the neighborhood. Researching local crime stats helps you to know if you'll feel safe and comfortable in your new community, and it's also a predictor of future appreciation and resale potential for the home.

These are just a few of the things to consider when you're beginning your vacation/second home search. The all important first step is to think about what you enjoy in life and then find a place where you can live and continue to enjoy it. The rest is just some investigation, most of which can be done on a computer in the comfort of your own home!

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Tucson's foreclosure epidemic by area

An article in today's Arizona Daily Star reports more then 5000 homes in Tucson fell into foreclosure within the first nine months of 2007. Although the highest density of foreclosures seem to fall in the more centralized areas of Tucson, there's really no area that's been left untouched by the foreclosure epidemic.

It's a common misconception that homes in foreclosure are dilapidated and in lower income neighborhoods, but we're finding foreclosures in even the most upscale Tucson communities. Tucson's Catalina Foothills, which is known for it's multi million dollar estates, is reporting a number of foreclosure filings, and I've located a few brand new, semi custom homes in the Oro Valley area which are now in foreclosure. The foreclosure "hot spots" in Tucson for Sept/Oct seem to fall into three zip codes; 85730 (East/SE Tucson) had 66 reported foreclosure filings, 85746 (Southwest Tucson) had 90 filings, and 85706 (South Tucson) had 101 filings.

Tucson foreclosures by area

The high foreclosure rate in Tucson and the rest of the nation is being credited to several factors that are currently steering the housing market. Those high risk, high rate loans that so many lenders offered to buyers with poor credit are now adjusting their interest rates, and borrowers are finding themselves unable to afford payments. There's also a number of homeowners that have cashed out their home's equity and now find themselves owing more then their home is worth.

For more info read Foreclosure surge hits every corner of Tucson

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What's the "right" reason to sell?

People decide to sell their homes for any number of reasons; recent marriage or divorce, unsafe neighborhood, need for increased living space due to growing family, unsatisfied with school district, etc. When you get down to it, some of the most common reasons for selling are not reasons that homeowners need to move, but reasons they want to move. With the current slow down of the real estate market, it's important to think about your reasons for selling your home. If you have a choice between selling or staying put, not selling definitely has it's advantages, especially now.


Selling your home and buying a new one can cost a lot of money. With the average home price down about 2% from last year and homes sitting on the market for months on end, it might be better to hold on to the home you're currently in. Still there are some reasons where it might be wise for you to bite the bullet and sell -

Job relocation - You just got a promotion; Great! But, the job is located about 150 miles from where you currently live. A portion of the Tucson population commutes to work in Phoenix daily. As gas prices and time away from family remain issues, sometimes it's smarter to pick up the family and move closer to the job.

Financial difficulties - If you're having trouble affording the home you're in it might be wise to downgrade to a lower cost living situation. Many homeowners are currently living beyond their means and have too much consumer debt; now they're being forced to sell because they can't keep their head above the water. This might be a good time to sell and move to a lower cost option while getting your finances in order.

Divorce or death of spouse - Too often losing a spouse or partner means losing income that helped pay the mortgage. Losing a partner to death or divorce can also leave bad memories and feelings in a home. It may be in your best interest emotionally and financially to sell and start a new life in a new home.

Retirement - Many new retirees find themselves living in a home that's bigger or more expensive then they need, so selling to downsize just makes good sense. Smaller means less house to clean! Active Adult communities are a popular alternative for retirees because they offer an endless list of sports and social activities, all within their own neighborhood.

If your decision to sell is based on wants, like wanting a bigger or nicer home, or wanting to move to a better neighborhood, it's wise to hold off until the real estate market turns around. With property values low, home buyer difficulties in obtaining loans and the overall state of the economy, it's better to just hold on tight and ride the real estate wave until the the market is more favorable to you, the seller.

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Tucson sales statistics by area

Just wanted to post the Tucson real estate sales stats by area before everyone heads out for the holiday weekend. Sales prices were mixed over the city, with some areas seeing declines and some seeing increases from September's numbers.

Comparing the average sales prices by area, Extended Southwest Tucson saw the biggest decrease, down 19% from September to October. East Tucson wasn't far behind with a sales price decrease of almost 16%.

The extended portion of NW Tucson saw the biggest increase in average sales price; up 40% to an average price of $221,689. This increase is a little misleading; when you look at the sales stats for this area you'll see that only five homes sold in XNW Tucson in October, the highest priced being $385K. In September the were 8 homes in XNW Tucson that sold, most priced below $200K.

Central Tucson also saw a sizable increase, up 16% from September's average sales price of $187,751 to $233,689 for October. This number is a little misleading as well; one home in Central Tucson sold for $1.1 million while about half of the rest of the homes sold for less then $210K.

Northwest Tucson saw a 2% decrease in average sales price for October; not too bad considering this area has the largest number of active listings at 2460.

Tucson Average Sales Price by Area for October

Although Tucson's overall Average Days on Market for October decreased to 70 from 73, parts of the city did see significant increases for the month.

Tucson Average Days on Market by Area

Once again NW Tucson had the highest number of Active listings at 2460, while Central fell into second place with 1159.

Tucson Active Listings by Area for October

I don't have much to comment about (my mind is occupied as I'm thinking about turkey and sweet potato pie). We'll just take it one day at a time and see what the future holds for Tucson real estate.

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Tips for moving with pets

This blog is the beginning of my pet series; tips to help you move your pets safely, whether it be to Tucson or Timbuktu. Over the next few months I'll include blogs with other Tucson pet tips to help those relocating to the Old Pueblo. Since animals play an important role in most American households, special care should be taken when it comes to moving them to a new environment. Moving is just plain stressful and it impacts everyone, including our pets. They depend on us for everything, from food and shelter to protection and love. If you're like me, a crazy lady who treats her cats like children, then you understand how important pets are and that there's a lot of work to keeping them happy. In all the chaos that comes with moving, pet owners need to make sure they take the right steps to keep their pets safe and happy during the transition. Below are some tips for helping make your move stress free for your pets -


- Pets are smart; if you're stressed they know it and it reflects in their behavior. One thing I've noticed with my kitties over the years is that they can read me well. When I pull out a suitcase to start packing for a trip they know that mommy is leaving, which causes one of them to get very stressed. That's why I always try to keep calm when something big is happening; if I'm calm then the kitties stay calm. So I guess that would be my first "tip" for moving with pets (if I had kids this tip would probably still be at the top of the list) "Stay calm". Easier said then done right? Yeah yeah, I know, but it's a nice idea...

- Really the first step you should take before moving day is to get your pet a full physical. This is a wise move for several reasons; first you want to make sure your pet is healthy before you pull him/her out of their natural environment and put undue stress on them. There would be nothing worse then moving your pet across the country only to find out that the stress coupled with another pre existing ailment has seriously impacted their health. Also, if your pet's on meds then this is the opportunity to stock up on them. And, it's a great time to see if your current veterinarian can refer you to another vet in the area where your moving. Don't forget to get copies of your pets records so that you have them for the next vet you see.

- Always invest in a sturdy pet carrier! Kitties should never travel unless they're in a carrier, but dogs are generally okay if they're restrained by a harness or leash/collar. Also, some pets don't enjoy car rides as much as others, so check with your vet to see if there's anything you can do to make the trip less stressful for them. If you're traveling by plane, make sure you check with the airlines regarding traveling with pets, and check out tips for safe pet air travel.

- If you're traveling a long distance and need to stay overnight, check out accommodations and hotels in advance so you know where you're pets will be welcome. Several of the websites below list animal friendly hotels and provide other useful pet travel resources

petswelcome.com

petsonthego.com

travelpets.com

tripswithpets.com

- Once you have your new home's address and telephone number, get new pet tags/ identification that are linked to both. I've heard too many stories about pets lost while moving and their found years later in some random state. Up-to-date id's might be the only thing that brings your pet home.

- Bring some of your pets favorites things, like toys or their favorite blanket. It makes them feel more comfortable when they're surrounded by items that are familiar to them.

- Once you're in your new home, make sure you keep your pets close by. It's not a good idea to let your cats or dogs run around outside; they're safer indoors or on a leash. Arizona has predatory animals like owls, hawks and bobcats, and they're known for carrying away dogs and cats up to 40 pounds. It's just safer to keep them inside if you can't be with them outside.

There are several other sites that offer great tips for moving your pets. The Humane Society of the United States can tell you everything you need to know, from steps to take while you plan your move to how to help your pets settle into their new home. Several national moving companies also offer tips on how to make your move less stressful for your pets, including 123movers and Vanlines . It's probably easiest to just ask your vet; they know you and your pet so they'll have answers to help you make your move successful for everyone!

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Photos from Tucson's El Tour race

I was out this morning and captured a few pictures of some of the El Tour cyclists in action. Just thought I would share...

Here are the pack leaders that made their way onto Moore Road at about a quarter of 10 this morning. There were a lot of neighbors out to cheer on all the cyclists! It's great to see so many residents in the Rancho Vistoso community support all the race the participants. The weather was perfect for the race; sunny and about 65 degrees at 10am.

At the right was one of the first packs making their way up the hill on Moore Rd. This hill was a real obstacle for some riders but the rest of the race was downhill so I'm sure it was a relief to know that could relax a little after they got to the top!

This was an action shot of a fan handing off a water bottle to two racers sharing a tandem bike. Sorry for the blurry picture, but I was trying to dodge cyclists!

Oro Valley plays host to a lot of events throughout the year. In March we'll see the Arizona Distance Classic Half Marathon which takes runners up and down Rancho Vistoso Blvd. It can be a tough run because this roadway has several steep hills, but it's worth it when you have the gorgeous Catalina Mt's to distract you along the way!

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Strong builder incentives does not a good home make

First let me start off this post by saying I'm not a KHov hater! The information I found was strictly by accident; I got a laugh out of it so I figured I'd share it. Anyway, one of the local Tucson home builders, K Hovnanian, has been advertising a promotion called "Homes for Heroes", which offers a 3% discount to military veterans. I haven't been by the "K Hov" home site lately so I googled them to get more information, and was surprised by the search results that came up for this builder.

K Hov is currently building homes in Oro Valley and Vail, and is a popular builder due to their competitive pricing. The Somerset Canyon community in Oro Valley is nearly complete, and they've began building in the Torreno community as well. The incentives being offered on some of the homes are great; I know one individual that backed out of an existing contract with another builder to buy a K Hov inventory home because the deal was so good (a little crazy IMHO). So I was surprised when I googled K Hov and found some of the first web results to be individual sites protesting the builder. As a real estate agent I'm familiar with the various builder's reputations, but seeing some of these sites made me laugh. In the top three search results I found http://www.khovsucks.com/ , which appears to be an aggravated K Hov home buyer that's lashing out at the world. It doesn't have a lot of substance but it's kind of funny so I would advise checking it out anyway.

The second site I found in my K Hov search results was a consumer resource site called Not-KHOV.com , and it's goal is to warn potential buyers about K Hov construction and business practices. There's some interesting info on this site as well.

My goal here is not to bad mouth K Hov, but to advise home buyers to really check out a home builder before they sign on the dotted line. Sometimes builder incentives seem like they're too good to pass up, and builders count on people seeing their beautifully decorated models and buying emotionally. Just remember that no matter who the home builder is, there's a good chance that at least a few buyers are going to have some problems with their homes. You can't expect perfection, that's why home builders offer warranties on their products (although sometimes those warranties are pretty worthless). I found a site called Homeowners for Better Building , and it provides some nifty info about different home builders and consumer complaints against them. It might give you some idea of builder reputations, but take the information with a grain of salt. The best way to find out who's reliable is to ask around. Most homeowners know who the best builders are in their town, and real estate agents should know this information as well.

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Latest Tucson foreclosure statistics

Just another note about foreclosure statistics, this time specific to Tucson. Today RealtyTrac released it's analysis of foreclosure activity for the nation's top 100 metropolitan areas and Tucson ranked in at number 34.

The analysis measured foreclosure filings for Q3 of 2007, and reported that Tucson saw 2,514 foreclosure filings, amounting to about one filing for every 162 homes. This represents a 22% increase from the second quarter of 2007, and a 96% increase in the last year (Q3 2006).

See the complete table of foreclosure filings Q3 2007

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El Tour de Tucson is coming!

Tucson roadways are currently over run with cyclists taking their final training rides before Saturday's El Tour de Tucson race. Attendance is expected to be between 10,000-11,000 cyclists this year. That's a whole lot of bikes on the road! Below is the map that shows the routes for this competition. Routes vary in distance from 109 miles (for those serious cyclists) to a family fun ride of 4 miles.

The race route passes through my neighborhood in Oro Valley so I'll be hanging out and taking a few pictures to include in my blog. The expected weather for race day is sunny and 79 degrees. Just perfect!

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Explanantions for increase in Arizona foreclosures

As our nation continues to see an increase in foreclosure rates there are still a lot of people asking "What's causing it?" Basically it all comes down to loan problems. Sure the housing slump plays a role, but the current state of the real estate market only escalated an already existing problem. The loose loan standards of several years ago increased the potential for problems. We can't play a blame game here; lenders did provide the loans but buyers were the ones signing on the dotted line. The emotional rush that came with the 2004-2005 housing frenzy was just too overwhelming; many of those individuals felt they had to get in on the action and by a home then and there.

The American dream is to own a home, and in the first part of this decade a large number of people were able to make that dream come true. Unfortunately many potential buyers went out on a limb and overextended themselves to obtain their dream, and now it's coming back to bite them in the form of loan default. Some of the reasons for foreclosure increases include

- Lending guidelines, which have changed quite a bit in the last decade. Back in the day home buyers were required to put 20 percent down, have a stable income and great credit to obtain a loan. In the last decade all that changed. Lenders loosened their requirements on credit standards so buyers could obtain loans with no money down, lower credit scores and less income. Many buyers were purchasing more then they could afford, resulting in increased defaults.

- "Bad" mortgages, as I'll call them, are a significant reason that so many homeowners are defaulting. These include adjustable rate mortgages (ARMs) which offered low minimum payments, encouraging buyers that might not have otherwise pursued or obtained loans. Though their initial payments may have been low, the loan balance continued to rise, and now interest rates on those loans are resetting at higher rates.

- Home equity is also a contributing factor. Arizona as well as many other states saw huge gains in appreciation in 2004-2005, and many homeowners took advantage of it by cashing out their home equity. Unfortunately there are now a large number of homeowners that owe more then their home is worth, and they can't come up with the funds to make monthly payments.

- Bankruptcy change in 2005 . In October 2005 the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect, making it more difficult and expensive for individuals to file bankruptcy. In the past homeowners would file bankruptcy to avoid foreclosure, but the new act makes foreclosure an easier option.

- Declining housing prices will continue to impact foreclosure rates as they feed off the other factors listed above. Homeowners that obtained creative financing like the popular "interest only" loans are finding that their home's value is less then what they owe due to an increased loan balance and the drop in housing prices. Those homeowners that maxed out their home equity are facing the same obstacle.

Only time will tell what will happen with foreclosure rates in Arizona and the rest of the nation. Stricter lending guidelines are already in affect, which is a step in the right direction. As the holiday season get's underway it will be interesting to see the impact our national foreclosure rate and the housing slump will have on consumer spending.

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Arizona ranks 7 in top foreclosure states

Arizona again made the top 10 list for states with the largest foreclosure rates according to a third quarter analysis done by Realtytrac. Arizona ranked in at number 7, with Nevada and California taking first and second place.


National foreclosure rates were up 30% for 2007's third quarter, with 635,259 foreclosure filings nationwide. This amounts to about one foreclosure filing for every 196 households for the quarter. Arizona reported 22,750 foreclosures for Q3 2007 , about one foreclosure for every 112 households in the state. It results in a 44% increase in foreclosures from Q2 2007, and over a 200% increase from third quarter 2006.

Looking at the map below it's easy to locate high foreclosure areas (think pink!) Both coasts seem to be carrying the brunt while the Midwest appears to be holding steady, other then Michigan and Ohio (Michigan is suffering through one of the worst housing markets in the nation). It's evident that states that saw an explosion of population and real estate growth in 2004-2005 are the same ones that appear to be suffering right now.

Each time we review new foreclosure statistics we ask the same questions, what's causing it? There are several contributing factors, and most are a result of the credit crunch we continue to experience. So as not to drag this blog out I've added a separate blog to describe some of the reasons behind the current explosion in foreclosures.

For more information about Arizona foreclosure statistics

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Tucson's October Real Estate Sales Statistics

Tucson's real estate sales statistics for October were just released by the Tucson Association of Realtors and once again it looks like we're holding steady. The number of home sales, active listings, and new listings were actually up from September, but Tucson saw a 6% decrease in average sales price from September. Pending contracts for this same time increased by about half a percent.


Tucson's average sales price for October was $262,251, a 6% decrease from September's average of $279,025, and a 1.72% decrease from October of 2006.

October Average Sales Price for Tucson

- Tucson's median sales price for October was $210,000, a 2.3% decrease from September's median price of $215,000, and a .71% decrease from October 2006's median price of $211,500.

- There were 993 Pending contracts for October, only a slight (.4% ) increase from September's 989 pending contracts.

- The average Days on Market was 70, down 4% from September. (Remember, this number is easy to manipulate so take the DOM statistics with a grain of salt!)

Tucson Average Days on Market

- Tucson had 9,313 Active listings for October, a 1.3% increase over September, but a .25% decrease from October 2006.

- Tucson saw 2,399 new listings in October, a 4% decrease from the number of new listings in September, and a 17% decrease from October of 2006.

- The number of Tucson home units sold in October was 790, a 15.5% increase from September's number of 683. This number was still a 28% decrease from October 2006.

These numbers mean a few things; while some homeowners are sitting out for awhile and waiting to sell (fewer new listings), others are negotiating more with potential buyers to make a sale (more pendings). The decrease in average sale price just means it's a great time to buy, especially if you're in the market for a second home and don't need to sell your primary residence. There's still a great selection of inventory; as of today there are 8712 properties available in the Tucson real estate market. Now is the time to start looking for that dream vacation home that you can be yours by the beginning of winter!

See more Tucson Real Estate sales statistics for October

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Just another burden for our real estate professionals

As if it's not already hard enough to sell a home in today's real estate market, try doing it when someone is stealing your "for sale" signs from right in front of the property! Somebody obviously has too much time on their hands. I wonder what the culprits will do when it comes time to sell their own home.....

City seizing signs, aggravating Realtor who's trying to sell a home

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Tucson vs Albuquerque; the comparison continues

Last week I made a "brief" comparison between Tucson and Albuquerque. Nothing too detailed, but I noted that I would add more specific information so here it is. This time I'm focusing more on the city stats and next week I'll discuss the housing market so that individuals trying to decide between the two will have a better idea of what they'll find in each city.


Tucson and Albuquerque are really very similar when you compare the two cities. Each year Money Magazine rates US cities and provides some great statistics, so I'm including some of these in chart form since it's usually the easiest way to make a quick comparison.

The first chart compares stats like population, taxes and job growth -

The second chart compares quality of life -

A comparison of leisure and culture (as you'll notice Tucson has more bars, due in large part to their popularity with University of Arizona students)-

Finally a comparison of weather -

As you can see both cities share a lot of similarities. Although Tucson is bigger and has more amenities, our median family income is about $10,000 less then Albuquerque. Still our taxes and auto insurance are lower then theirs!

Next week I'll compare the housing market between both Tucson and Albuquerque. For more information about each of these cities visit the city stat snapshots for both Tucson and Albuquerque at Money Magazine.

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Retirement in Tucson; is it for you?

SaddleBrooke Active Adult Community

Each year at about this time homeowners living in colder parts of the country begin casually searching the web, trying to learn a little more about Tucson and our housing market. Who wouldn't? The thought of facing a cold, wet winter anywhere makes me appreciate Tucson all the more! Tucson Arizona remains a popular choice for retirees as well as vacation home buyers. Our mild climate, scenic landscape and endless array of activities draw thousands of new residents to Tucson annually. Living in sunny, warm paradise is an attractive alternative to snow !

Most retirees that buy homes in Tucson come from other parts of the country. Although the thought of leaving the comfy home and city they've spent so many years in may be scary to some, the idea of a new lifestyle in a new hometown appeals to other's sense of adventure. Deciding to buy a retirement or second home can be an emotional time that requires a lot of thought, so it's important to ask yourself a few questions before you sign on the dotted line....

- Do you enjoy the warm sun, a rainy climate or a cold snowy environment?
- Is your goal to live closer to family or farther away? Would you enjoy living in an active adult community, or do you prefer living around a younger college crowd?
- Would you enjoy living in a community with activities like golf, tennis, swimming or hobby and social clubs?
- Would you like to live in a home that's smaller, larger or the same size as your current residence?
- Would you prefer living in a condominium (less maintenance for the homeowner) or a detached home?
- What type of floor plan will fit your lifestyle? Do you enjoy gourmet cooking, or gardening? Do you like to have grand kids stay the night, or do you need lots of extra storage space?

Thinking about all of these factors carefully before buying helps you find a home that will keep you happy for years to come. Whether it's your retirement or your vacation home, it should be a place where you look forward to spending time and enjoying your future!

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To buy or sell; which comes first?

One of the most common questions I get as a real estate agent is "Should I sell my house before I buy a new one?" My answer is always "that depends". Although that response may sound too non committal, it true. Current real estate trends, your financial situation and your reason for moving are all important factors that can determine whether it's better for you to sell or buy first. Generally it's better to sell your current home before you buy a new one.

There are several benefits to selling your home before you buy, and in our current buyers market, it just makes more sense. Selling your home first puts you in control. By selling before you buy you'll have the luxury of time. You won't have to take the first offer that comes along (unless it's a great one!). You can decide how much to accept for your home without feeling pressured to take a lower price because your financially strapped with two mortgages. Once you've sold your home you'll know exactly how much money you can put towards your new home. And selling first removes contingencies that may otherwise keep home sellers from accepting your offer to buy their home.

Ideally it would be great if you could sell your old home and close on your new home at the same time, but life doesn't always work that way so you need to keep your options open. If you receive an offer on your home but haven't found another one to replace it, see if you can rent back your home temporarily. It's best if you make this a part of your home's sales contract so that you know up front if it's feasible. There's also the option of renting an apartment or a different home until you find a house you want to buy. These situations might not not always be convenient but if they benefit you they might be worth considering.

Sometimes it might actually be better for you to buy before you sell your current home. When Tucson saw it's sellers market between 2004-2005, homeowners could put their homes up for sale and receive an offer within a few days. Demand was high and supply was low, so sellers knew that they could buy another home without much risk.

There are other reasons to buy before you sell. Sometimes you might find a house at a price that's just too good to pass up. Occasionally homeowners are forced to sell for any number of reasons; if they're motivated and it's going to benefit you and your situation, take advantage of it! And, if you come across that home you've always been dreaming about, it might be a good idea to buy it before you lose out. If it's the perfect home and you don't make it your own, you may regret it in the long run. But before you jump in and buy, make sure that you can afford two mortgage payments. In a worst case scenario your original home may not sell for awhile, and you want to make sure you can handle the temporary burden of double payments.

Whatever you decide to do, make sure you review your personal situation and finances so that you know what you're getting in to. One of my general rules in life is it's better to be prepared and find out a situation won't work before you commit to something you're stuck with!

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An uphill battle

I was driving to a client's closing this morning and as I was thumbing through the Tucson radio stations I came across the KFMA morning show, also called the "The Frank Show". I came in at the end of a discussion so I'm not sure what led up to the comments I heard , but I guess it really doesn't matter. All I did catch was one of the DJ's condemning real estate professionals. His remarks included "in it for the money", "Shysters", "never trust a Realtor" and "snake oil salesman". As I said I came in at the end of the discussion, so I don't know if it was a joke, but he sounded very serious. Maybe he's had a bad experience, but it still peeved me (I'm using "nice" words) to hear him say these things on the radio. Real estate professionals have a hard enough time trying to maintain a positive reputation. Right off the bat we face an uphill battle; still today we're ranked right up there with used car salesmen in regards to honesty and integrity.

I'm not going to let those comments ruin my day; all I can do is laugh it off. As in any industry a few bad apples (agents) spoil the bunch. I can only do the best job I can personally and not worry about anyone else. Just don't ask me my opinion about radio DJ's....

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This is why we choose Arizona

photo courtesy of the Weather Channel

I was just watching the national weather forecast and noticed that most of the US has been hit with an extremely cold weather system. Meanwhile much of Southern Arizona has been seeing record warm temperatures; today's forecast for Tucson is sunny and 86 degrees. It will cool down quite a bit this weekend with highs only in the low 70's.... Brrrr!

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Where the heck am I?

Oh yeah, I'm at the new starting point for Tucson's half marathon, better known as the middle of NOWHERE! To say that it's isolated is an understatement, but this weekend I made up my mind to run this race, so I can't let a little thing like the starting location get in my way.

The new start line for the race is at Biosphere 2, which was recently sold to a home developer for $50 million. Looks like lots of new homes will going in the area someday! Anyway, it's about 15 miles North of Oro Valley, and about 30 miles North of Tucson. The elevation is almost 3900 feet at the start of the half marathon, and about 4800 feet at the start of the full marathon. For those of us Arizona natives that means cold temperatures; usually high 20's to start off. Brrrrrrr! I'm looking forward to the race because you're out in the middle of the boonies so it's really a relaxing run. All you see are mountains and an occasional cow!

Tucson's full and half marathon are considered fast races because they're downhill, but I haven't found the half to be too rough on my knees yet. When I run I put on my Ipod and zone out as I enjoy views of the Catalina Mountains. The only thing that keeps me going is my music and the thought of eating a huge carb filled breakfast after the run. The biggest obstacle is waiting in the porta potty line with thousands of other runners in the freezing dark. It really gets exciting though when you line up at the starting line; you can just feel energy coming from every direction.

I haven't registered for the race yet. I'm going to run 10 miles this Saturday and if I don't drop afterwards I'll register online. Then all I need to do is get my fuel belt and a fun hat to wear. You'll see all sorts of interesting sites at these races. There's on gentleman that runs barefoot, some runners that wear trash bags to keep warm and others that wear Santa hats. I've got to say true runners are an interesting breed.....

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Tucson vs Albuquerque; who's better?

Since the beginning of my real estate career I've had numerous clients that began their home search trying to decide between Tucson and Albuquerque. With similarities like population size, climate (although Albuquerque does see colder temperatures then Tucson) and cost of living, it's easy to see why people consider both in their initial search.

Tucson and Albuquerque share a lot in common, which is one of the reasons so many people are attracted to them both. If you enjoy an active lifestyle, both cities are great; the weather is perfect and there's easy accessibility to recreation like running, biking, golf, skiing etc. Both Tucson and Albuquerque continue to undergo new development, but they also focus on holding on to their cultural heritage through their support of local arts and by maintaining their older, historic communities. The cities even look similar as you drive in. Although Albuquerque is high desert and Tucson is low desert, they both have the same dry arid landscape, mountains surrounding the city and urban sprawl.

Sure there are a million things that make Tucson better then Albuquerque or vice versa, but for times sake I'm only going compare Tucson and Albuquerque in a few areas. First, both cities began their quest for revitalizing their downtown areas around 1999. Where Albuquerque has made significant progress in this arena, Tucson is at a standstill. The Arizona Daily Star had a great article comparing the revitalization projects of both Tucson and Albuquerque, pointing to no-bid deals with developers as one of the many reasons that Tucson's revitalization project hasn't progressed. While there are plans for new restaurants, shopping, housing and other attractions in Tucson's Rio Nuevo project, we're still waiting to see any of them come to fruition.

Tucson also lags behind Albuquerque in transportation. Whereas Albuquerque has two freeways that dissect the city, Tucson has only one that runs along the west side of town. If you need to drive from the NW to East side of Tucson it can be a long car ride! I personally don't feel that Tucson traffic is bad enough to make the commute unbearable, but some road construction projects feel like they take forever to complete. There is talk of an I-10 bypass in our future, but the costs involved might blow the project right out of the water.

While Tucson's light rail plans are still in the assessment stage, Albuquerque already has the Rail Runner, a commuter rail that runs from central Albuquerque to Bernalillo and will eventually run to Sante Fe. Also in the works is the creation of a light rail that will cover a four mile stretch of downtown Albuquerque. Support for a light rail system in Tucson has been mixed. Although many people like the idea of a more efficient mode of transportation, they fear that Tucson will lose it's character and identity with increased growth that might accompany this project.

While I'm sure there are other areas where we might fall behind Albuquerque, Tucson is ahead of the game in some areas. I personally feel that Tucson is much more beautiful then Albuquerque. Tucson is surrounded by five huge mountain ranges, so it's a good bet that no matter where you live you're going to have a great view of the mountains. Maybe I'm prejudice, but the mountains in Albuquerque just didn't feel as grand and powerful to me. I also noticed there seems to be more variation in the elevation and topography in Tucson and it's surrounding communities. Even though Tucson is very spread out, it doesn't feel that way because you can't see it. To me Albuquerque looked like a flat valley with urban sprawl that continued for miles.

One difference I noticed before I even got to Albuquerque was their lack of luxury resorts. Tucson is a destination city that draws in thousands of visitors (and dollars) for annual events like the gem and mineral show and world championship golf tournaments. Some of Tucson's finest luxury resorts accommodate these visitors now, and a new Ritz Carlton will soon be included in that group. Albuquerque plays host to the massive Balloon Fiesta , but there are very few upscale resorts in the area to accommodate its visitors.

Another factor that comes from the mouths of Albuquerque's own residents is the crime rate. Many complain the crime is much higher in Albuquerque. If you compare the stats, it looks like some crimes are higher in Tucson and some are higher in Albuquerque. I guess it just depends on what you fear the most. At any rate both are significantly higher then the national average in all categories.

And there you have it, my very informal comparison between Tucson and Albuquerque. As I said before, I'll compare the housing stats in both cities soon. I know some of you have lived in Albuquerque so I appreciate feedback!

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Just hangin out....

I spotted a neighbor of mine in search of breakfast this morning, but I didn't see the kids at all. I know she has three young ones, but they must still be sleeping!

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Three NW School Districts performing at or above state standards

Some good news for three school districts in NW Tucson! The Amphitheater, Flowing Wells and Marana school districts in NW Tucson continue to perform at or above state standards according to a report in today's Arizona Daily Star. Eleven schools in the Amphi school district achieved the "excelling" label from Arizona Learns, our states education accountability system.

For more information about NW Tucson schools performance

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More little signs that Fall has arrived in Tucson

There are several signs that it's Fall in the Tucson area. Besides the gorgeous night time temperatures (low 50's), November brings several clues that better weather (then the rest of the nation anyway) has arrived -

- Out of state license plates are everywhere, so that can only mean the snowbirds have arrived! Snowbirds are what those of us living in Arizona and California call our seasonal residents that move to the area for the winter. Yesterday I saw plates from New York, Wisconsin, Quebec, Ohio, Illinois, Michigan and Oregon all within an afternoon's car ride. The arrival of snowbirds is a sure sign that winter is on it's way!

- No matter where you are in town, right now you'll see cyclists gearing up for the El Tour de Tucson race that takes places here on Saturday, November 17. From August to mid November everyone has got to watch their step to avoid colliding with the packs of cyclists on the roads. I encounter this a lot when I'm running in the morning. Running in Oro Valley you'll come across several cyclists for each block of roadway. Most cyclists are friendly enough if you're courteous to them and get out of their way, but you've got to be careful; I've come across some that scream obscenities at anyone in their path. Must be fatigue and overexertion from training!

- The Javelinas have been attacking our pumpkins again! Javelinas are present throughout the year, but you really begin to see them around Halloween when homeowners leave pumpkins out. Just last night a Javelina knocked over our patio table and broke a potted plant in his (or her) attempt to confiscate the decorative pumpkins we had on the table. It was quite the site as my husband ran out the front door and screamed when he saw the 150 pound creature staring up at him!

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Memories

Have you ever seen something that took you back in time to a place with some bittersweet sometimes crazy memories? What better place than my teenage years. This morning upon returning to our neighborhood from an early run, (another vivid reminder of why I live in Arizona where such late fall runs are pleasant and possible!) I tumbled upon a sight that made me stop and wonder. Not the usual javelina/bobcat/coyote encounter but something that took me back a few years to my parents house.

Two feet or maybe arms or something else, covered in a sheet were poking out over the edge of the shiny new pickup truck bed belonging to our neighbors teenage son. Ahhh the morning stretch after a long hard evening as a Tucson teenager! Wait...were there two persons snoozing in the back of that pickup truck in our neighbor's driveway?

As I passed silently enjoying the mountains and morning solitude, I wondered: Was this an innocent night spent sleeping under the stars or perhaps the result of something far more complex. Had young Mr. Neighbor been locked out of his house after trying to stay out past curfew? Well it was very considerate that mom had left some sheets and a blanket outside the front door. I can imagine there was a thermos of hot chocolate and maybe some cookies for a late night teenage post party snack. Or maybe those late night howling coyotes last night were not really coyotes! Ahhh the fond memories of my very own experience being locked out of my house after a night of innocent teenage fun...

Now the real questions. What if there were 2 people in the pickup bed. Could it be that this young gentleman was entertaining his girlfriend and had the courtesy of not disturbing his family and took the party outside? Or yet another possibility... has Oro Valley joined the ranks of other respectable cities and have we developed a homeless population? Has it moved to my neighborhood and should I initiate a drive to support those less fortunate? Maybe this was a far more explainable situation...had Mr. Neighbor indulged is just one too many buds while watching the game yesterday afternoon and had this led to consequent lack of even couch privileges? Or is this just young Mr. Neighbor wanting some along time without the fam?

Well I'll just have to leave this to my own imagination and the occasional snippet of neighborhood gossip to solve. For now life in this Oro Valley neighborhood goes on as usual.

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The infiltration of Oro Valley (by sporting good stores that is)

Oro Valley has gone from having none to soon being bombarded with sporting good stores. Recently a Sports Authority and a Big 5 sporting goods opened in Oro Valley, and by next year we'll also be seeing a Dick's Sporting Goods at the new Oro Valley Marketplace. One of the things I've always liked about Oro Valley is the small town feel on a slightly more upscale note. When it comes to sporting good stores, we have our specialty store for athletic wear and shoes, All About Running and Walking. Even though there's going to be more selection at bigger stores, this particular business will continue to have a faithful following as they specialize in customer service and they're very involved in the running community. Still many Oro Valley residents are worried about the impact these bigger stores will have on our local independent businesses as well as the Oro Valley community.

Oro Valley is an extremely active community. The main thoroughfare of Rancho Vistoso Blvd is perfect for running, walking and cycling. There's even a few races that are held in or make their way through the Oro Valley area, like the El Tour de Tucson bike race, which is coming up in about 2 weeks, and the Holualoa marathon and half marathon which takes place December 1. Still, with all the additions of sporting good shops recently, I'm beginning to wonder if someone is trying to tell us we're not active enough!

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Arizona has some tough DUI laws (thank goodness)!

While visiting Doug Trudeau's blog I came across an article I found interesting but also important. It seems that every week I hear of some type of car accident involving minors and alcohol. It's not just the minors either; a lot of people drive after throwing back a few and just don't realize that their abilities might be compromised. The holiday season is almost upon us and it's important to remember that even one drink can be too much for some drivers. Anyway, I thought Doug's entry was great so I've included a link.

http://www.tucsonrealestateblogs.com/2007/11/01/dui-laws-in-arizona-are-tough/ Read more!

Worries about Tucson's downtown revitalization project

The revitalization project for downtown Tucson, also called Rio Nuevo, has been in the works for about 8 years now, but the city has yet to see any real progress. In fact, it's now almost a joke amongst most Tucsonans who are wondering if the project will ever get off the ground. I recently visited St. Louis MO with my husband and we stayed in the downtown area where they're also undergoing a revitalization effort. After checking out the progress and talking with the locals, I began to wonder about Tucson's revitalization project and if we'll ever see any progress.

Downtown St Louis was presented to me as a place to stay away from once it's dark. The crime rate is high according to news reports and statistics, and even my neighbors who've lived there. The area's only source of traffic comes from those that work downtown, and they leave when they finish their work day. Needless to say I was a little worried about walking around downtown. Once we arrived we took a few short treks on foot just to see what it was like, and we were amazed to find that the entire St Louis downtown area is undergoing redevelopment. There's major construction everywhere, from retail and restaurants to lofts, lofts, lofts galore. I was extremely impressed at what I saw in the lofts being developed, but I could tell that most of the completed units were vacant. The landscape in the downtown area was beautiful considering it was cold and rainy; obviously someone is working hard to maintain the look of the area. With all the construction going on, we still saw very few people on the streets; not a lot traffic other then workers coming and going from jobs. We learned the most about the revitalization project from a bartender we chatted with one evening. She said the the city has big plans for downtown St Louis, and the goal is to "urbanize" the area and increase traffic by adding more restaurants, shopping and housing. It was exciting to hear about all the great plans in the works, but considering the project has been underway for 10 years so far and they expect another 15-20 before completion, I began to worry about Tucson's own downtown revitalization project.

The goal of Tucson's Rio Nuevo is to preserve and enhance the city's historical and cultural downtown area while adding restaurants, shopping, housing and other attractions. What was once an exciting concept is now leaving many Tucsonans with a sour taste in their mouths. The latest Rio Nuevo update came in October when the Arizona Daily Star reported that the Tucson community is losing faith in many of the proposed projects because there's been no progress. One developer is now under pressure to begin the promised projects but blames the slow housing and credit markets for the delays. Speaking with locals I found that many Tucsonans feel some of the projects are impractical; why build lofts and condos when people move to Tucson to get away from the city? Others feel that it's just not feasible when you look at the $700 million price tag. Considering the Rio Nuevo concept was approved by voters in 1999 and we haven't seen much yet, I'm wondering if we'll see any progress in my lifetime (I'm a Gen X'er so that's sarcasm on my part). Personally I'm still excited by the project. It would mean great things for Tucson as a whole once it's complete. While any development that's made to downtown Tucson will be well received, our city's patience is wearing thin.

There are a few great sites discussing the St Louis revitalization and Rebirth of St Louis

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$8 million home sale sets Tucson record

The Arizona Daily Star reported today that the sale of home in Tucson's Catalina Foothills area set a new record at $8 million. The home, which was not publicly listed (sorry, no photos!) is 7,200 square feet, has a glass bridge walkway, a large patio and pool with waterfall. This sale beat the last recorded high dollar sale for a Tucson home located in Saguaro Ranch, which took place in March. That home sold for a price of 4.95 million.

Photo courtesy of the AZ Daily Star

Though the average sales price for a Tucson home is about $279K there are a large number of luxury homes available for those who can afford it. The luxury home market has held strong even through the Tucson housing slump; 15 homes priced at 2 million or above have sold in the last six months. Better buy that lottery ticket!

For more info about the Tucson area home selling for $8 million

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Rate cut won't significantly impact Tucson housing market

The Feds once again cut the key rate by a quarter percent on Wednesday to motivate the economy and help the country out of it's housing slump. The question on everyone's mind is "How will this impact me?" The answer, not much. Lower short term rates will lower interest rates on home equity loans and some credit cards, which is a positive for consumers. If short term rates are lower then fewer people are likely to default; a good thing when our nation is currently plagued with foreclosures. As a result consumers are likely to spend a little more during our upcoming holiday season because their confidence level is higher. It also means consumers will likely accumulate more debt on their credit cards. Tis the season!

Unfortunately the problems with the housing market won't be resolved with a simple interest cut because the issues are too deep. The after affect of the mortgage meltdown has resulted in stricter lending standards, leaving a lot of home buyers with no way to obtain a home loan. Even popular new home builders like Pulte and Lennar have tightened their standards and are struggling to make sales. A client of mine just received her second price reduction from her home builder, and her home will be complete in a week. Most Tucson home builders are offering incredible incentives to encourage buyers to purchase their homes.

With the Tucson housing market being as saturated as it is, sellers are negotiating their socks off. If you're a buyer looking for a retirement or vacation home, it's the perfect time to take advantage of Tucson's prices. And you can be in your home to enjoy a Tucson winter; sunny and 75 degrees!

To see how this rate cut can impact a home equity loan

For more info about the fed rate cut and it's impact on housing

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