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What’s Tucson’s Most Expensive Home On The Market Right Now

December 29th, 2009 by Michael Oliver

Tucson as many people know offers some high end luxury homes. Right now in Tucson the most expensive estate on the market is a super luxury 13,350sf, 6 bed, 10 bath, 15 car garage, state of the art theater, negative edge pool, complete with guest quarters, this home was built in 2009 and is one of the most prestigious homes in Southern Arizona. This property sits upon 1.34 acres in the extreme luxury neighborhood of the The Canyons located north of Skyline and east of Campbell Avenue. The Canyons sit opposite of another of Tucson’s most prestigious neighborhoods called Cobblestone built previously to The Canyons.

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Home Sales Up Again Across The Nation Tucson Home Sales Also Up

December 22nd, 2009 by Michael Oliver

Existing home sales are up again across the nation as existing home sales rose 7.4% in November to a seasonally adjusted rate of 6.54 million units a year pace. As expected sales are way up over last years levels on a percentage the gain was 44% over last November. As most people realize last year from roughly October until the end of February the real estate markets were almost essentially locked up as lending froze, and buyers headed for the sidelines not knowing what was going to happen in the general economy. That being said the next couple months of home sales should show large increases in a year over year basis.

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Appraisal Come In Low? What Do You Do As A Buyer And/Or Seller?

December 17th, 2009 by Michael Oliver

I have recently had a few appraisals come in low on both the sell and buy side and I’m sure I am not alone in saying that appraisals are very biased and hard to understand animal of the real estate transaction. To make a simple point two different appraisers can appraise the same property at the exact same time and come up with a completely different value. So what do you do as a buyer or seller in this situation?

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New Home Housing Starts A Little Less Then Economist Hoped For

December 16th, 2009 by Michael Oliver

New housing starts a key indicator of the new home industry and the real estate market at large rose last month but not as much as many economist had expected. The Commerce Department said housing starts increased 8.9 percent to a seasonally adjusted annual rate of 574,000 units.

Analysts polled by Reuters had expected housing starts to rise to 580,000 units. However, the percentage increase last month was the largest since May, indicating housing remained on a steady recovery path

October’s housing starts were revised downwards to 527,000

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Credit Score (FICO Score) And The New Damage Point Model To Tell You How Much Of A Hit Your Score Will Take For Different Mistakes

December 15th, 2009 by Michael Oliver

Here is an interesting new concept that the FICO companies recently published to explain to consumers how much of a drop their credit score can expect to fall with different situations playing out. According to FICO (the companies that generate credit scores for individuals) the following is a chart most interesting to me is it doesn’t seem like credit scored drop as much as most people would think for different offenses.

For additional information you can read this article with additional explanations of what could happen to your credit score under more exact situations.

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Zip Code 85704, Tucson Real Estate Review

December 15th, 2009 by Michael Oliver

Tucson’s 85704 zip code is in area a larger zip code for the Tucson metro region with over 14 square miles in its range. With in the 85704 zip code many different types of real estate have been developed from new homes, older single family homes, luxury estates, condo’s, and even town homes. Generally speaking 85704 real estate is higher priced then the average Tucson real estate as it sits on the western edge of the Foothills and allows access to all parts of the Tucson metro region including Oro Valley, Marana, and The Catalina Foothills, as well as downtown Tucson.

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Tucson Market Statistics: November 2009

December 13th, 2009 by Michael Oliver

Tucson Market Statistics November 2009

The Tucson market is continuing its rebound from the bust it went through from the end of 2005 until as recent as a couple months ago. Sales are way up, listings are way down, and pending contracts are way up also. From last year to this year, the numbers are impressive. However, most may forget that last year, from November until at least March, the Tucson real estate market (like a lot of real estate markets nationwide) was dead. Very few deals were closing and buyers were scared to make a purchase of any kind due to the economic storms facing the country. So, that being said, the numbers are impressive, but the gains should be weighed against last year’s economic conditions.

Foothills Foreclosure Contemporary Home Just Sold For An Amazing Deal! Over 25% Less Then Comps Show It Should Have!

December 11th, 2009 by Michael Oliver

Pinnacle Peak Foreclosure Home In the Pinnacle Peak neighborhood on Tucson’s North side a home just closed escrow for an amazing 25.3% less than an identical home (in floor plan and most features) did in the same neighborhood six months ago. This home is a newer (for the Catalina Foothills) contemporary home built in 2001 by A.F. Sterling. The property sold for $635,000 after over a month on the market. For those unaware of what prices go for in Pinnacle Peak that is an extremely low price for a home. This property was 3541sf, 4 bed, 4 bath, 3 car garage, with a pool. Another home of the same exact size and amenities closed escrow for $850,000 just a few months ago showing just how cheap of a price a $635k is for this home that just closed.

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Tucson AZ Foreclosure Home Flipping Is Back! I Have Seen And Sold Several Professionally Tucson Flipped Homes In The Past 3 Months And Flippers Seem To Be Making Good Returns Right Now.

December 8th, 2009 by Michael Oliver

flipping picThe Tucson Arizona (AZ) home “flipping” market is back without a doubt. However unlike a 5 years ago when home prices going up alone sometimes as much as 5%-10% in a couple months which made “flipping” profitable this time around it’s only the skilled, knowledgeable flipping professionals that are in the market. These professional investors are purchasing properties that are in need of serious work for next to nothing at foreclosure auctions in Tucson. They then are fixing them up and then reselling them in most cases for a quick large profit. The skill lies in being able to identify properties quickly and knowing the real estate values of the neighborhoods extremely well, then being able to buy the homes at cheap enough prices to make the repairs and re-list the home just below market for a quick, profitable “flip”.

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Looking For The Best Deals On Homes For Sale In Northwest (NW) Tucson? Here They Are!

December 6th, 2009 by Michael Oliver

NW Tucson Home kitchenA lot of home buyers look on the internet all day for the best home deals and for the most part they do a good job of finding good values, however most of the time these “deals” they find don’t work for their needs. Many times the home is in disrepair and the pictures didn’t show it, or the home is a short sale or in a short sale situation and not disclosed online to buyers, or even sometimes the financing the buyer has isn’t allowed for the sale. I went through the Tucson MLS and found what I believe to be the best (or lowest priced homes) home deals (values) on the market at this time. I only searched the Northwest (NW) side of Tucson as I didn’t have time to search through all the listings for sale but the list is in my mind a pretty solid one.

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