Monthly Archives: March 2011

1st $2 million plus home sale in 2011!

Finally some good news for the luxury housing market! The Tucson area had its first $2 million plus home sale. The home, a foreclosure built in 2009 on 4 acres, is located in Saguaro Ranch in Marana and sold for $2.1 million. That’s $288/sqft.

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Posted in Oro Valley Real Estate news, Tucson Real Estate news | Tagged , , , | 6 Comments

New homes are becoming a bad deal in weak markets

New homes are often not as good of a deal as exisiting homes in a declining market.

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Posted in Real Estate News | Tagged , , | 18 Comments

Where are the newly constructed homes?

I have encountered buyers who want newly constructed Tucson homes, built within the last year, and are frustrated that they can’t find any that fit their criteria.

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Posted in Real Estate News | Tagged , , | 5 Comments

Foothills and Oro Valley Luxury Housing Market Update!

Currently there are conflicting indicators, regarding the state of the luxury housing market in the Foothills and Oro Valley

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Posted in Tucson Real Estate news | Tagged , , | 4 Comments

Tucson Luxury Home Market Update

Tucson Luxury Home Market Update. As of February 2011 active luxury inventory was 291, a 32% decrease from February 2010. There were 10 luxury closings in February 2011, 9% below February 2010. Continue reading

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Posted in Tucson Real Estate news | Tagged , | 6 Comments

Oro Valley Market Update

As of February 2011 active inventory was 504, a 14% increase from February 2010. There were 53 closings in February 2011, 51% above February 2010. Months of Inventory was 9.5, down from 12.7 in December 2009. Continue reading

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Posted in Tucson Real Estate news | Tagged , | 3 Comments

Oro Valley Market update!

As of February 2011 active inventory was 504, a 14% increase from February 2010. There were 53 closings in February 2011, 51% above February 2010. Months of Inventory was 9.5, down from 12.7 in December 2009. Median price of sold homes was $265,000 for the month of February 2011, down 7% from February 2010. Oro Valley had 57 new properties under contract in February 2011, down 5% from February 2010. Continue reading

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Posted in Oro Valley Real Estate news | Tagged , | 5 Comments

Foothills market update!

Between 1/1/11 – 3/11/11, 103 homes have sold in the Foothills. The low was $94,000 and the high was $1,725,000. The medium was $377,500. Since 1/1/11 there have been 5 home sales, in the Foothills, for over a million Continue reading

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Posted in Tucson Real Estate news | Tagged , | 7 Comments

The Beginning of the End?

Will it be a silver lined or storm cloud at the end of the real-estate horizon? Currently, there are dueling economic indicators suggesting the future of the real-estate market remains undetermined. Below find a summary of various economic conditions that will put both upward and downward pressure on the housing market.

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Posted in Tucson Real Estate news | Tagged , , | 7 Comments