Friday, February 29, 2008
Spring Training in Tucson
Posted by Valorie Bradley at 1:41 PM 2 comments
Labels: Tucson Events
Wednesday, February 27, 2008
Tucson home price declines not as significant as some
While Phoenix was hit hard, Tucson saw better numbers. The Phoenix metro area suffered priced declines of 1.8% for the fourth quarter and 3.42% for the year. Tucson home values saw a small increase of .31% for Q42007, and a minimal decrease of only .01% for the year. When you compare these numbers to each of the cities appreciation over the last five years, the decreases are really insignificant. Phoenix saw 82.76% appreciation and Tucson saw 71.65% appreciation since 2002. The national average for appreciation over the last five years was only 41%, so Arizona as a whole is way ahead of the game.
Posted by Valorie Bradley at 7:27 AM 5 comments
Labels: Tucson Home Buyers, Tucson home Sellers, Tucson Real Estate
Tuesday, February 26, 2008
Foreclosure rescuers; the latest scam
Foreclosure Rescue Management is the latest addition to these scam groups that trick needy homeowners into signing away their most precious asset. These companies approach struggling homeowners and tell them they can help them to avoid foreclosure by refinancing their debt. All homeowners need to do is sign over their home's title for a year while the company cleans up the debt. Problem is that during the year these companies sell the titles to buyers who in turn demand high rent from the original owners. When they can't afford to pay it, they receive eviction notices. Once homeowners have fallen for the scam it's almost impossible to get out.
Read more!
Posted by Valorie Bradley at 4:50 PM 1 comments
Labels: Mortgage Corner, Tucson Home Buyers, Tucson home Sellers
Sunday, February 24, 2008
How foreclosure affects your neighborhood
Still today there's a stigma about homes that fall into foreclosure. Many people assume that homes in foreclosure are dirty and damaged or located in bad parts of town, but it's not necessarily true. During the last several years a lot of buyers purchased homes they really couldn't afford, and circumstances have now put them in a position where they can't keep their homes. Foreclosures come in all shapes and sizes, from starter homes to mansions, and the impact they have on surrounding properties is being seen all over the nation.
So how do foreclosures affect neighboring properties? Surprisingly they really don't impact home prices too much unless there is a large concentration of them in a specific area. Most appraisers try to avoid using distressed homes in their comparables if they can. They'd rather pull comps from adjacent neighborhoods and adjust them for value before they'd include short sales or foreclosures in the mix. If there are other home sales to choose from the appraiser will use those and the impact should be minimal. If there's a larger ratio of foreclosures then there are normal home sales, then unfortunately those sales prices become the market value. Communities with high foreclosure rates can also affect house values because often they're neglected. Many times the homes are vacant so no one is maintaining the property. Sometimes these vacancies are drawing crime to the area. Too often buyers look at these neglected properties and see diminished value of the entire neighborhood, not just the homes in foreclosure.
Posted by Valorie Bradley at 5:05 PM 8 comments
Labels: Tucson home Sellers
Friday, February 22, 2008
The problem with polybutylene pipes
If you're not familiar with polybutylene pipes, you're probably haven't lived in any of the Southwestern states. Polybutylene was a very popular type of plastic resin piping that was used for home plumbing systems in the "Sun Belt" states between 1978 and 1995. It was the material of choice in those days because it was cheap and easy to install. Problem is that several different factors can cause the pipes and their fittings to burst, in turn flooding your home and potentially causing mold. Chlorine and other chemicals in the water supply are the biggest contributors because they're known to cause the pipes to deteriorate, eventually causing leaks. Bad installation is another contributing factor.
Posted by Valorie Bradley at 1:32 PM 1 comments
Labels: Homeowner Tips, Tucson Home Buyers
Tuesday, February 19, 2008
Tucson Real Estate Sales Statistics for January
Let's just get down to the facts -
- Tucson's average sale's price for January was $266,450, a 2.4% increase from December 2007's average sales price of $260,196. (I'm having trouble with my graph but I will include it as soon as I can fix the problem)
- Tucson's median sales price for January '08 was $203,500, a 3% decrease from December's median price of $210,000, and a 7.65% decrease from January 2007's median price of $220,365.
- There were 1,079 Pending contracts in January 2008, an increase of 35% over the number of Pending's in December (799). It's also a 25% increase over the number of Pending contracts in January 2007 (863).
- The average days on market increased to 83 in January 2008, a 9% increase over December and a 22% increase over January 2007.
- Tucson had 9,168 Active listings in January, a 5.3% increase over December's number of 8,708, and a 6% decrease from January 2007 (9,742).
- Tucson saw 3,744 New listings in January 2008, a huge increase (135%) over December 2007, but a 7% decrease from January 2007. Everyone waits until the holidays are over to sell their homes!
- The number of units sold in January increased by 15% over December's number of 682. It's still a 36% decrease from January 2007.
Tucson real estate usually picks up in late Winter/early Spring when the weather is great here and horrible everywhere else. The last two months I've been swamped with visitors looking for second homes. Most of these people plan on buying something now and using it for vacation purposes short term, then retiring in it later.
Several of the major events in Tucson are scheduled in January and February; the Tucson Gem and Mineral Show and Accenture Match Play golf tournament. Many of my clients have been visiting these events and decided they want to purchase in Tucson while it's a buyers market. There's a great inventory of homes right now, and sellers are willing to negotiate. It you don't need to sell a home to buy another then you're in an ideal position right now.
Posted by Valorie Bradley at 3:19 PM 1 comments
Friday, February 15, 2008
Tucson Gem and Mineral Showcase; a big boost to local economy
The two week gem and mineral showcase draws about 50,000 participants and attendees to the Tucson area, making it the largest show of its kind in the world. You can always tell when the gem show vendors arrive in January because you'll begin to see white tents popping up in parking lots and empty fields all over Tucson. The event brings in approximately $100 million a year, so it's had a major impact on the Tucson economy since it first began in 1955. Certain shows are open to only wholesale buyers, while others are open to the public. As you can expect, parking can be difficult to find, so the City of Tucson provides a free shuttle service that stops at all the key gem show locations.
Read more!
Posted by Valorie Bradley at 9:07 PM 1 comments
Labels: Tucson Events
Thursday, February 14, 2008
Happy Birthday Arizona!
Arizona became the 48th state when it joined the union on February 14, 1912. Only Alaska and Hawaii are younger then we are. Hard to believe we've been around for 96 years. It's amazing to think that the entire population for the state of Arizona was around 1 million in 1960. That's the population of Tucson now. Kind of exciting that we share this special day with Valentine's Day!
Posted by Valorie Bradley at 10:28 AM 1 comments
Tucson's best florist (IMHO)
Since flowers are usually the most common Valentine's Day gift, I thought I'd mention our favorite local florist. I think most everyone has ordered flowers for someone and been disappointed in what they've gotten for their money. I've found the majority of florists give you very little for what you pay, but you never really know any better unless you actually see the arrangement. There's been a few times when I've gotten flowers for clients and been embarrassed when I saw what the arrangement looked like. I'm not going to bash any local florists, but I will give kudos to one I think is great. We like to order flowers from Darlin's Flowers in NW Tucson. They're actually located up in Catalina (which is a little North of Oro Valley) but they deliver pretty much anywhere. They have consistently created the most beautiful floral arrangements; they are HUGE arrangements and very reasonably priced. I've never once been dissapointed in anything I've gotten from Darlin's, and everyone I've sent flowers too have been amazed at the size and quality of the arrangements. These babies last more then two or three days!
I hope everyone enjoys spending time with their significant other today. We'll be heading to our favorite restaurant North for dinner and coming home to watch our favorite movie The Bridges of Madison County. It's the one movie that makes both my husband and me cry!
Posted by Valorie Bradley at 7:27 AM 1 comments
Sunday, February 10, 2008
Rancho Sahuarita; a community with lots to offer!
Rancho Sahuarita is a master planned community about 20 minutes South of Tucson off Interstate 19. Though Rancho Sahuarita consists of only about 3800 homes right now, the community should have about 11,000 when it's complete. Rancho Sahuarita is a popular choice with homebuyers for several reasons. Homes are generally less expensive then you'd find closer to Tucson, so you get more bang for your buck. Buyers can easily find a new construction, 4 bedroom/ 2 bath, 2000 sqft home priced in the high $100's or low $200's, so it's a really appealing area for growing families. Builders include Richmond American, Pulte, DR Horton and KB Homes. Most homes are two story and the yards are very small, but there's really no need for a big back yard with all the community amenities.
Safari Trail at Rancho Sahuarita
Lake at Rancho Sahuarita
Posted by Valorie Bradley at 2:40 PM 1 comments
Labels: Tucson Home Builders, Tucson Home Buyers
Thursday, February 7, 2008
Check out the SAHBA 2008 Parade of Homes
I think everyone would agree it's just plain fun to look at other people's homes, but it's even more fun when the homes you're looking at are million dollar homes with all the latest and greatest gadgets and gizmos. That's why my friend and I decided to check out the 2008 SAHBA Parade of Homes in Marana yesterday. The Parade of Homes is basically seven custom homes built by several of Tucson's finest builders, each displaying some of the latest concepts in home design, construction and energy savings.
The high end homes included in the Parade of Homes are all for sale and range in price from 1.5 to 2.1 million. There are several different home designs including Tuscan and Southwest Contemporary, and all are distinctly interesting and unique in their own way. I think visitors enjoy seeing these exclusive homes (that most could never afford) and taking some of the ideas to use in their own homes. It's hard not to look at all the professional decorating and landscape and not want it in your own home. There were some "interesting" design concepts that were a little odd to me, but it's all personal taste. One thing I was really confused about was the number of televisions in each home; I swear each property had at least five flat screens mounted on one wall or another. Who needs that many TV's, especially in the bathroom? I know it's just part of the show, but can we say overkill?
My personal taste drew me to the Tuscan style home built by Bauer Homes and the Old European design by JD Raney Construction (pictures of the Bauer home are above). Still there were a lot of neat features in most of the homes. I have to say if I had 1.5 million burning a hole in my pocket I don't think I would buy any of these homes, but I might build one using some of the ideas I saw. Another concept that I noticed in three of the home models was this "coffee station", which is actually located right off the master bedroom as you head into the master bath (picture below). This is one idea I would skip; it makes me feel like I'm staying in a hotel.
If you have the opportunity I would highly recommend visiting the 2008 SAHBA Parade of Homes before it ends on February 17. To see the Parade of Homes you head out to Dove Mountain and follow the signs to the designated parking area where you'll be shuttled to the home site area. Visitors pay admission here; the cost is $12 for adults, $10 for Seniors and kids under five are free
Posted by Valorie Bradley at 6:41 PM 1 comments
Labels: Tucson Home Builders, Tucson Home Buyers, Tucson Luxury Homes
Wednesday, February 6, 2008
Even the credit worthy are struggling
I think a lot of us forget that this big mortgage mess impacts even those with good credit. USA Today had a great article in Tuesday's paper about the effects that tighter lending practices are having on credit worthy borrowers. A quarterly Federal Reserve study showed 55% of US lenders had tightened standards for prime mortgages, which impacts borrowers with good credit. The study reports that about 60% of US Banks have instituted tougher criteria for revolving home-equity credit lines.
Posted by Valorie Bradley at 6:47 AM 0 comments
Labels: Mortgage Corner
Tuesday, February 5, 2008
Tucson is for snowbirds
The most obvious way to recognize a snowbird is by their out of state license plates. I've recently seen a lot of visitors from the Northeast, Northwest and upper Midwest, just trying to escape their own crazy weather by moving to Tucson for a few months. I've also seen more RV's with compact cars in tow off the back. These vehicles are usually being driven by seniors, so I'm assuming they're snowbirds, but it's just a guess.
Read more!
Posted by Valorie Bradley at 1:14 PM 1 comments
Friday, February 1, 2008
Tucson sky is perfect for stargazing
The Tucson area was once known as the "astronomy capital of the world" and is home to several different observatories including Kitt Peak, and Mt. Graham. To get better views of the night sky, we need less nighttime lighting, so Pima County installed ordinances that restrict light pollution. Tucson and Pima County have some of the strictest lighting codes in the nation, with the goal of curbing light pollution and preserving Southern Arizona's night skies. Recently there's been a big focus on extending these codes to Phoenix and northern Pinal County where extensive growth is causing light pollution that's already affecting viewing at Kitt Peak.
Read more!
Posted by Valorie Bradley at 7:41 AM 1 comments
Labels: Things to do in Tucson