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Foreclosures Make Up 22% Of All Sales In Tucson Today -Down From 43% Last Year

December 19th, 2012 by Michael Oliver

Foreclosure sales in Tucson are steadily making up less and less of the market. Not long ago (from 2009-2011) foreclosures made up between 40% and 60% of all Tucson home sales. Foreclosures pushed down home prices by flooding the market, lowering prices, which in turn circled back on itself and created more foreclosures. This was a difficult cycle to break in the Tucson housing market and held as the normal for many years. At this point heading into 2013 I would say a new market has formed which will continue to push the foreclosure numbers down until they make up less that 5% of the overall sales. This “under 5%” is a historically “normal” figure.

The Tucson Housing Market Is Hot- A Great Time For Sellers To Sell- Buyers To Buy

October 23rd, 2012 by Michael Oliver

It’s rare in the past 10 years I have been selling homes I can’t remember a time when I would say it was a great time for sellers to sell AND buyers to buy. Usually you are in either a buyers market when prices are low and there aren’t enough buyers buying so prices are weak, allowing buyers to be picky and get good discounts. The Tucson home market saw this type of market in 2007,2008, half of 2009, and severely in 2010, with the first half of 2011 also being a strong buyers marketplace.

Tucson Median Home Prices Up Over 23% From 2011

October 8th, 2012 by Michael Oliver

Tucson housing stats just came out recently and for the first time in a very long time prices are up (a lot) across the board. Median home prices jumped up 23.36% from September 2011 to September 2012. Average price also jumped a lot up 20.80% over the same time. Active listings were down 25.41% during the same time frame with only 3,845 active listings available on the open market which is a low point not seen since the last real estate boom of 2005-2006 ended. Those were up from August which only had 3,564 homes available during that month.

Mortgage Rates Now Under 3% On A Fixed 30 Year- Tucson Housing Market Under Priced Currently

October 2nd, 2012 by Michael Oliver

Mortgage rates last week went to under 3.00% for a 30 year FHA fixed mortgage. When 30 year rates start sounding like GPA averages real estate to put it simply should increase in value and demand will increase as buying power starts to almost exponentially increase. In Tucson prices are rising quickly specifically at the lower price points. This trend is going to continue as homes are in my opinion (and the market’s currently) are under priced. $100,000 Tucson homes which most are livable cost a buyer using an FHA loan roughly $650/ month for a total payment (PITI) locked for 30 years until the property is paid off.

97 New Listings Today/ Here Are The Best

September 20th, 2012 by Michael Oliver

New Home In The 85718 Zip Designed By Kevin Howard Should Sell Reasonably Fast

Of the 97 new Tucson homes to come on the market these are the best properties.

MLS# 21222799 This home in Canyon Shadows which is a first time buyer neighborhood in Oro Valley just came on the market today. It’s 1305sf 3/2 in decent shape it doesn’t really have any upgrades and is pretty original to when it was built in  1988 but for the listed price of $139,700 it should sell fast. Anything under 4150k in the Oro Valley market that is move in ready will generally speaking sell as the market there is starved of good inventory.

45 New Tucson Area Listings Today

September 19th, 2012 by Michael Oliver

Today 45 new listings came on the market and of those these are the best:

MLS# 21222813 This home on the NW side (Gatewood Ranch) is a complete fixer but it’s 1375sf priced at $61k (or $44/sf). If you can get a little off of the price and it only takes $30k or so to fix up then you have a nice re-done home on the NW side for under $100k which is a pretty nice spot to be in.

Best New Listings On The Market Today? We Have Them Here

September 18th, 2012 by Michael Oliver

This new listings MLS#21222641 in the 85718 zip has nice updates and a great price at $350k

As everyone looking for a house right now knows the market is short of high quality listings that are priced right. This being the case I have gone through the new listings in the market today (last 24 hours) to pulling out the best of those so buyers can quickly see where the best deals are. Those are as follows:

 

3,302 Active Listings On The Market In Tucson Great For Sellers/ For Buyers Quality Harder To Come By

September 16th, 2012 by Michael Oliver

With only 3,302 active listings on the market and more buyers looking for a new home in over 5 years the amount of quality listings available is low in Tucson. If you are looking to sell a home that is updated/ newer then you should be able to sell for a much higher price then even expected just three months ago.

Maracay Homes Incentive To Buy- They Will Property Manage Your Current Home

August 26th, 2012 by Michael Oliver

Maracay Homes which is owned by Weyerhaeuser a huge company owning homebuilders, timber forests, and paper companies now has a new idea on how to make additional home sales. The idea (or incentive) if you buy a Maracay home is they will property manage your current home (free initially.) This allows you the new home buyer and current owner to sell it under better housing conditions (which we know are currently developing). The costs for the first year of management services is free (afterwords 10% a year management fee which is about the industry standard) PLUS Maracay will provide up to $1,000 in property damages per year for up to 3 years.

Move Up Buyers Starting To Show Up In Tucson’s Housing Market

August 15th, 2012 by Michael Oliver

Foothills Home currently on the market

As mentioned all year here, the Tucson housing market is improving dramatically over the past 5 plus years of declines. Buyers feel pricing is more than fair (undervalued if you talk to most of them as I do), interest rates continue to push lower, and sellers are happy to make deals for prices that are better than they may have expected just a year ago. The one portion of the market all this was happening at most was the was the under $200k market where; first time buyers, investors, and second home buyers purchase most of the properties. Over this price point the market was still pretty slow but there was evidence that eventually the move up buyer ($200k-$750k) would surface again. As of today I won’t say the move up market is overly strong but it is moving better than probably anytime in the past 5 years. Buyers in this price range still want to negotiate a good price yet feel more comfortable with current prices and the overall market then almost anytime since the real estate boom of 2003-2006.

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