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Tucson Housing Market Strong And Getting Stronger

July 10th, 2015 by Michael Oliver

This high end Catalina Foothills home we recently listed and sold in only 4 days! Not proof in itself that the market is strong ,but properly priced and marketed homes are finding buyers willing to pay premium prices right now in the Tucson market. This is the same in Oro Valley as well.

Market statistics came out yesterday for the Tucson housing market, (click the link to see them) the market here is very strong and it seems to be getting stronger with buyers looking to lock in low rates. Prices are not up an incredible amount YoY (3.67%) however by looking at the unit sales (YoY up 14%) and volume (YoY +18%) if these trends continue prices will have go where to go but up.

How To Identify Neighborhoods That Should Appreciate At An Above Average Rate

February 23rd, 2015 by Michael Oliver

Tips to find the best homes for sale that appreciate at above average rates.

It's Been Statistically Proven Homes Within 1/4 Mile Of Starbucks Appreciate At A Higher Rate Than Those Further Away! Learn What Other Above Average Appreciation Identifiers To Look For When Buying A Home!

Let’s face it when buying a home part of the decision is emotional, the other part if you are being honest is financial. Homeowners enjoy a net worth that depending on the study is 30-35x’s higher than a renter.

This net wealth effect comes from two sources for the homeowner; debt pay-down, and in most situations to a greater effect home appreciation.

Below Market Catalina Foothills Homes For Sale

September 11th, 2014 by Michael Oliver

Tucson, AZ 85750 This home is a raw value 2819sf, with a pool for $254k but it needs updates/ other repair work.

In the Catalina Foothills market there are currently a few options for those buyers wanting under market/ raw value homes. The market in the Foothills is strong specifically under $750k right now as buyers are looking to move into and up within the high quality neighborhoods of 85718, 85750, and also parts of 85704 as well as 85749. Recently several high end foreclosures ($500k+) have found buyers quickly indicating the buyers in the market are switching to raw values vs just paying for a finished home. Earlier this summer you could always find 2-3 higher end foreclosures on the market today none exist below $400k.

Slower Market = Great Home Buys In Tucson

August 27th, 2014 by Michael Oliver

This High End Home Is One Of The Best Values In The Market; Bought In 2008 For $2.25M Now $1.175M! See This List For Other Great Values In The Market!

This summer the housing market in Tucson has seen a slower response from buyers who in years past have bid prices up over 25% from the lows of early 2102. Buyers are still buying, but they are taking their time and looking for great values in the market. I expect to see this sluggishness go away soon as homes in Tucson are still very affordable specifically when financing a property. Costs of ownership are low with other areas of the country bringing in new buyers looking for; investment property, retirement homes, and second homes. Currently here are some of the best real estate deals in Tucson:

Learn How To Find The Best Neighborhoods/ (Those That Are Gentrifying)

January 4th, 2014 by Michael Oliver

"whole foods"

Looking For New High End Retailers Such As Whole Foods and AJ's Can Identify Neighborhoods Undergoing Changes As Well As Soon To Be Higher Home Prices!

When looking to buy a home the neighborhood and immediate area have a great deal of impact on the home values and your overall experience of living there. Finding a neighborhood that is turning the corner and becoming a higher end area is where the largest gains in home prices are seen these neighborhoods are called gentrifying.

Tucson AZ Active Listings Up; Good Time To Buy A House?

November 4th, 2013 by Michael Oliver

This is the type of home buyers want in today's Tucson market

Today checking the market active listings (those available for sale) are up to 5,938 properties. This is higher than Tucson has seen since early May 2011 when the market was coming off of a significant lack of demand. Low mortgage rates, lack of foreclosures flooding the market, and ultra low prices (Tucson homes have appreciated 12.2% since May 2011) have made an environment that buyers could not say no to. So going forward, where is the Tucson housing market headed?

Fannie Mae Holding Foreclosures Off The Market Here In Tucson; Spiking Prices and Demand

June 6th, 2012 by Michael Oliver

This foreclosure is currently on the market for $149,500 for 1994sf 3/2.5; Loft. Call For Additional Info

For anyone in Tucson looking for a home under about $150,000 you will find the market is super slim for quality homes. Anything that price or under sells within 5 days and has multiple offers on it for over full asking price. On top of this due to the very limited supply of quality homes in Tucson the other homes that need work are also selling in record time as well. In many cases for over asking price as buyers pushed out (or priced out in most cases) of being able to get a move in ready home are settling for cosmetic fix-ups. First time buyers, second home buyers, and investors are all being forced to buy what is available to lock in the record low prices and interest rates. Inventory levels are sitting at record lows (at least since the boom years of 2005) and have been at that level for quite some time. So what’s going on that no homes seem available to buy without paying over asking price?

Real Estate Prices/ Value In Tucson Just Makes Sense- First Time Buyers And Investors Look To Do Best Today

September 22nd, 2011 by Michael Oliver

I haven’t been writing much on the blog lately but have been selling a lot of properties and for those that don’t watch the Tucson real estate market everyday the numbers and values are very low. Basically it’s simple if you are renting (even an apartment) for the most part you can buy a home for less then the amount of your monthly rent. If you are an investor you can park money in the Tucson real estate market and get pretty stable and better than average returns on the rent compared with other asset classes currently.

Fannie Mae’s Quarterly Stats Show Foreclosures Are Reversing In Arizona

August 11th, 2011 by Michael Oliver

Reading through the Fannie Mae quarterly results, specifically the 2nd Quarter Supplemental Report shows that since the 1st quarter of 2010 the “serious delinquency rates” (those that usually end in a foreclosure) have been declining every quarter.

For the 1st Quarter of 2010 the serious delinquency rate for Arizona was about 9% of all loans…. Today (the second quarter results for 2011 just came out on Friday for Fannie Mae) this same statistic is about 4% for the 2nd Quarter of 2011…. Here is a link to the entire report: http://fanniemae.com/ir/pdf/sec/2011/q2credit_summary.pdf

 

Investors Are Coming Back To Arizona Specifically Tucson and Phoenix

August 6th, 2011 by Michael Oliver

All this week I handled calls and requests from investors wanting to buy rental homes in Tucson. Some investors were also looking at Phoenix (which has a much different/volatile marketplace than Tucson currently) but most were looking to the more steady and higher yields Tucson offers on rental homes.

Investors most from out of state included an investment company based in Seattle, private investors from Los Angeles, Dallas, Chicago, and San Francisco also called to say they wanted to start looking at purchasing properties (most wanted multiple properties) for rental purposes. Then I believe it was on Thursday the Wall Street Journal wrote a front page article about how hedge funds are starting to put together money to buy up large amounts of foreclosure properties In Arizona to then fix them up and hold them for long term rental properties.

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