May 28th, 2010 by Michael Oliver

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Tucson rental real estate is priced right to make investors good solid returns right now

Rental Property for sale in Tucson is starting to become highly prized as prices have come down for all Tucson housing segments including residential income. Individual rental homes offer solid and stable returns right now; duplexes, Tri-Plexes (3-plex), Four-plexes, (4-plex), and small apartment complexes offer even better returns but more risk as the purchases are much larger and have more components as you increase the number of units. Right now Tucson, AZ rental property for sale yields an average 7%-12% capitalization rate for high quality properties.

April 28th, 2010 by Michael Oliver

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Tucson or Phoenix Which Area Should You Live In?

Since Arizona is one of the fastest growing states in America the question is always posed, should I move to the Phoenix area? Or the Tucson region? Being a Realtor people like to know all the differences in the cities and also the housing markets/ what the homes are like as Arizona homes are definitely much different then most of the housing options across the rest of the country. In Arizona specifically Tucson and Phoenix we have Haciendas, Territorials, as well as more traditional Spanish Colonials, Queen Anne’s, and Contemporary homes of all sizes and price ranges.

March 21st, 2010 by Michael Oliver

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Moving to Tucson Arizona from another part of the country can bring with it all sorts of questions for those about to relocate. The first question that comes to many people’s mind when they are in the process of Moving to Tucson, Arizona is “Is there enough water?” It’s a very common misconception that because Tucson sits within the Sonoran Desert that there is no water or vegetation or wildlife. All are simply not true people moving to Tucson once they arrive will realize Tucson sits within a valley and the actual desert surrounding it is diverse and lush. Tucson’s desert is much more diverse then either of it’s large southwest neighbor cities such as Phoenix or Las Vegas; Tucson sits at a better elevation and receives more rainfall then either Las Vegas or Phoenix.

Tucson Real Estate

September 29th, 2009 by Michael Oliver

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Share on Facebook The Case-Shiller report just came out today showing home prices are going up in many of the 20 closely watched major markets Case-Shiller reports on. In those cities homes prices as an average went up 1.2% and that marks the third straight month that the Case-Shiller report has showed a net gain in real estate prices. Economists had expected a 0.5% increase from June to July of 2009. While the Case-Shiller numbers are always a couple months behind other reports it is considered one of the most accurate gauges of the real estate markets as it uses a unique formula to account for a lot of the inconsistencies normally found in comparing real estate values.

case-shiller report, phoenix real estate news, real estate news, tucson real estate news

April 28th, 2009 by Michael Oliver

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Everyone wants to get a great deal on a homebuilders spec home in Tucson AZ but how do you do it? Well hopefully these tips will help you truly get the best deal on a brand new builder spec home in the Tucson/ Phoenix area. When trying to get the best deal it’s always best for a few things to line up for you as a buyer and these would include the following:

1) The longer the home has been on the market completely finished typically means the better for the buyer when trying to negotiate the price.

March 18th, 2009 by Michael Oliver

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I think Phoenix Arizona is offering a perfect (well maybe not “perfect” but a very good plan) incentive to get (or help) buyers decide to make a home purchase specifically pertaining to lowering the amount of foreclosure inventories within the city limits. Basically what the $15,000 “grant” or incentive states is this: Buy a foreclosure home in the Phoenix city limits and the city will “grant” you up to $15,000 for your down payment. Here’s actually the more specific details provided from

http://arizonarealestatehome.com

January 29th, 2009 by Michael Oliver

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Fulton Homes a huge builder in the Phoenix area filed for Chapter 11 bankruptcy protection this morning. Chapter 11 allows for the company to restructure its debts, Fulton Homes should still be around but this is obviously a serious blow to them. In Phoenix the new home industry was one of the best (if not “THE” best) homebuilding market in the nation. Actually I believe statistically the Phoenix area was the #1 new home market in the country by units delivered. As reported here many times in Phoenix the real estate market was white hot for 3 solid years. For 3 years there were waiting lists and price increases, and incredible demand. In Tucson this same white hot demand only lasted from roughly February of 2005 until September of 2005 so about 8 months. In my opinion Phoenix has a lot longer to go to get through the downturn as it has been so, so overbuilt that huge mega builders like Fulton Homes is now declaring Chapter 11.

January 27th, 2009 by Michael Oliver

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Are you in the market for Tucson real estate and want to know what the top 10 things to know about the Tucson area? Ok here is my breakdown:

October 29th, 2008 by Michael Oliver

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Local Phoenix homebuilder Brown Family Communities closed it’s doors today. As already noted here I think in both Phoenix and in Tucson Arizona we will continue to see builders fold up as the lending standards have become very difficult for smaller builders to lend money to fund operations. Brown as most small builders (those that build less the 1000 homes a year) need to use large sums of financing to get the money for buying parcels of land to develop, and then actually build a home on. After that then the tough part begins to actually be able to FIND A BUYER FOR IT oh, and don’t forget it’s a lot nicer if they can actually make a profit on that sale. I would say most homebuilders are NOT making any money off of the home sales. A lot of them are scraping by due to the fact that they have alliances with local lenders to share in revenues made off of loans originated off their home sales. This kind of boom and bust is actually a very familiar concept to homebuilders so most planned for hard times way before the boom even started and knew how to protect themselves the best they can. This for a homebuilder usually means taking options on land vs outright purchases until it is actually needed. Also having large lines of credit available and tremendous relationships with large banks is a basic “must” for any builder to get through tough times.

January 28th, 2008 by Michael Oliver

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The Phoenix, Arizona, real estate market is, in my opinion, much worse shape than Tucson’s. Phoenix experienced more speculation for a longer period of time than Tucson. During the boom, I remember speaking with agents in Phoenix who talked about the wave of speculators arriving and buying Phoenix up for a full two years before the same type of speculators came to Tucson in droves. When they came to town, the buying frenzy only lasted roughly 8 months, whereas Phoenix experienced well over two years of blatant overbuilding and speculation. However, just because the Phoenix AZ real estate market is in worse shape than Tucson’s, it doesn’t mean the market is dead.

The Phoenix real estate market and especially the new home marketplace (the largest in America) have had a rough time the past two years, but the numbers are still staggering. The Phoenix market is just a juggernaut and is many times larger than Tucson’s. 2008 will be a slower than normal year for the Phoenix new home builders. Only 22,000-24,000 home building permits are expected to be issued. That’s about a 20% drop from 2007, which was even much slower than 2006. By comparison, I believe the Tucson home building numbers come in around the 6,500 mark for 2007, down from 7,831 in 2006 and 11,270 in 2005 when the housing boom reached its peak. The leading homebuilder by number of sales in Phoenix for 2007 was D.R. Horton. They logged over 5850 sales last year alone! Coming in second was Pulte Homes, and they had sales figures in excess of 4250 sales! Those numbers are still huge. In Tucson, the leading homebuilders top out around only 600-800 total sales. It’s easy to see the Phoenix market is still churning out a large number of sales.