Home Values in Tucson have changed dramatically over the past 10 years both towards the upside and then as the market has re-aligned recently. Home values in general within Oro Valley are quite a bit higher then in the greater Tucson area, while areas such as the SW offer lower then average home values. Buyers specifically move-up buyers, retirees, and higher end managers/ business owners seem to be pulled to the higher end feel that Oro Valley has as well as its magnificent mountain views, world class golf, and a small town feel. Other areas of the Tucson metro region also offer amenities and benefits that drive buyers to those specific regions. All of these factors play into home values in Oro Valley as well as the greater Tucson area and are reasons buyers prefer to live within it.
When listing a Tucson home for sale it is not always an easy thing to know what you should do to it before placing on the market, or how to find the right real estate agent (Realtor) that will present your home for sale in it’s best light allowing it to sell for the most money possible quickly. The first item to cover is what you should do to your home before you place up for sale and a quick easy checklist would be as follows:
If you are like many home sellers in the Tucson area there is a chance you have placed your home for sale and little to
Today's Home Selling Market Is Crowded With Other Sellers, Don't Get Stuck Behind Them Get Ahead Of Them!
not enough interest from buyers is what has occurred. With so many foreclosure homes on the market and buyers watching every dollar they spend; the sell side of the real estate transaction can be a very tough side to be on. It’s important for sellers to have a certain outlook on what to expect in today’s market the first couple of items I would recommend sellers understand is the following;
Want or need to sell your home in an area or neighborhood with a lot of foreclosures? Unfortunately for many people this is just a reality; job transfers, family changes, and different housing needs don’t wait only for good selling markets. In today’s challenging selling market more then likely if you are selling a home in Tucson regardless of price range or area your main competition will be foreclosure or bank owned property in competition with your home.
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?
Share on Facebook In my never ending search to find cutting edge trends, statistics, and in general better ways to do things I came across a brand new strategy call “Virtual Staging”. Virtual Staging is exactly what it sounds like, essentially a vacant home can become a model home with the click of a mouse. How is this done? By using digital technology “Virtual Stagers” add furniture and other décor to photos to show what empty spaces can look like and design concepts that could work with the listing. Since the majority of homebuyers in today’s market (over 90%) use the internet heavily to select listings they want to see and eventually buy, I believe virtual staging (while very new to the industry) is one enhancement that should be used to make listings “Pop”. Previously this service had been available but the images used where not of high enough quality to make it believable that virtual furniture could actually be a part of the real home. The pictures to put it simply looked doctored until recently when digital processes have gotten to a high enough level to look realistic.
Share on Facebook is a video that was sent to me on Facebook and it is very interesting to see just how large and important the social media and internet marketing arena has and is becoming. Internet marketing is something I have as a Realtor taken very seriously and been involved with for the past three (going on four) years. For me as a Realtor representing people and their properties the internet is the best way in my opinion to gain their home the best exposure and for potential buyers to find me to help them with their real estate needs. Few Realtors understand how important this segment of the marketing world is. The average Realtor if he/she advertises at all (few do they rely on MLS to do everything) only advertises in the newspaper, home magazine, and possibly radio or television. The problem with that is the internet gives the buyers the most intimate and most information possible allowing your home to shine in a way none of the other media formats can compete with. So without getting to far away from the topic take the time to watch this video and see just how large the social media world and the internet have become. Once you have seen this I think it would be obvious that when selling a home you NEED a Realtor that knows how to showcase your home online and place it in front of the most viable buyers in the marketplace.
In doing some statistics for what sellers on average are accepting for offers it was interesting to follow the list vs. sell price of homes in Tucson over the past 4 years. From 2005 until 2009 (I ran the stats over the same time span to make them as accurate as possible the time frame was from 1/1/200*- 6/5/200*) the final list vs. sale differential has grown pretty sizably as buyers have taken full control of the marketplace. The help explain it better this percentage is what “on average” the final sales price was in relation to the list price before the home went under contract. So homes that were over priced to start with then reduced in price to come in at market price then sell are only counted from where they were priced just before going under contract. In addition keep in mind only homes that are priced correctly get the traffic (buyers coming to see the home) to facilitate a home sale. So with that being said here are the statistics. (Again keep in mind this is a percentage of the list price so if a home was listed at $100,000 and the “on average” list vs. sell percentage is 90% then on average the $100,000 home sells for $90,000.)
Few neighborhoods are as large as the Continental Ranch and its sister neighborhood Continental Reserve mega neighborhoods. Combined this area has roughly 4100 homes and in the past 5 years even had some commercial real estate projects to make this area self sufficient with grocery stores, services, and even direct access to a hospital and professional services. On the whole the Continental Ranch and Reserve area is probably NW Tucson’s most demanded area to live in for those that want a master-planned community with many options for people of all ages to participate in. For starters here is some background on both areas.
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Want or need to 
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?
In doing some statistics for what sellers on average are accepting for offers it was interesting to follow the list vs. sell price of homes in Tucson over the past 4 years. From 2005 until 2009 (I ran the stats over the same time span to make them as accurate as possible the time frame was from 1/1/200*- 6/5/200*) the final list vs. sale differential has grown pretty sizably as buyers have taken full control of the marketplace. The help explain it better this percentage is what “on average” the final sales price was in relation to the list price before the home went under contract. So homes that were over priced to start with then reduced in price to come in at market price then sell are only counted from where they were priced just before going under contract. In addition keep in mind only homes that are priced correctly get the traffic (buyers coming to see the home) to facilitate a home sale. So with that being said here are the statistics. (Again keep in mind this is a percentage of the list price so if a home was listed at $100,000 and the “on average” list vs. sell percentage is 90% then on average the $100,000 home sells for $90,000.)
Few neighborhoods are as large as the Continental Ranch and its sister neighborhood Continental Reserve mega neighborhoods. Combined this area has roughly 4100 homes and in the past 5 years even had some commercial real estate projects to make this area self sufficient with grocery stores, services, and even direct access to a hospital and professional services. On the whole the Continental Ranch and Reserve area is probably NW Tucson’s most demanded area to live in for those that want a master-planned community with many options for people of all ages to participate in. For starters here is some background on both areas.
The stimulus tax bill was signed into law today for those interested in what those get for buying a home here are the details:
1650 E. River Road, Suite 202