Monthly Archives: August 2011

Tucson real estate : home values in Pima County decline 34% compared to 5 years ago

Posted on August 25, 2011 by Lisa Bayless

Tucson real estate : The Federal Housing Finance Agency recently released data showing the average home in Pima County is now selling for only 66% of what it did 5 years ago.

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Tucson real estate : Mortgage loan application drop to 15 year low

Posted on August 24, 2011 by Lisa Bayless

Tucson Real Estate: According to the Mortgage Bankers Association, mortgage loan application have fallen to a 15 year low. The decline in mortgage applications, and ultimately prospective home buyers, was attributed to volatile markets and uncertainty regarding the economy.

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Tucson real estate : Should sellers get a home inspection before they place their home on the market?

Posted on August 23, 2011 by Lisa Bayless

Should sellers get their home inspected before they place in on the market? Can’t hurt.

In AZ after a seller accepts an offer on their home, the buyer has 10 days to perform home inspections. Usually buyers perform a home, termite and pool inspection.
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Tucson Real Estate : Land Sales Market Report July 2011

Posted on August 22, 2011 by Lisa Bayless

As of July 2011 active lots and land was 1,758, a 6% decrease from July 2010. There were 26 closings in July 2011, 37% above July 2010. Months of Inventory was 67.6, down from 98.4 in July 2010. Median price of sold lots and land properties was $52,500 for the month of July 2011, down 36% from July 2010. There were 36 new lots and land properties under contract in July 2011, up 29% from July 2010.
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Pima County Foreclosures Declines Again

Posted on August 20, 2011 by Lisa Bayless

In July, 2011 the number of foreclosure notices issued in Pima County hit a 40 month low.

In July 2011, 666 property owners in Pima County received default notices. This is a 40% decline compared to July 2010. In July 2006, when home prices rocketed, there were 216 foreclosure notices issued.
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Tucson Real Estate : Pricing Strategy

Posted on August 20, 2011 by Lisa Bayless

Tucson Real Estate: Pricing your property properly when first listed can help you get a higher percentage of your list price and sell it in half the time. The majority of showings occur when a house is first placed on the market. If you price too high when you put it on the market, you run the risk of incurring higher holding costs and ultimately getting less for your property.

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Boys & Girls Club of Tucson : The Party!!!

Posted on August 19, 2011 by Lisa Bayless

Last year approximately 3,500 people came to the inaugural kick off of THE PARTY. This year plans to be even bigger and better. You will not want to miss it and I hope you join us this year. I promise you will not be disappointed. Please allow me to give you a few highlights: Continue reading →

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Tucson real estate : Why some Realtors will accept over-priced listings (hint, it’s in their interest..)

Posted on August 19, 2011 by Lisa Bayless

I recently viewed a home that was listed for approximately $900k. It seemed extremely over priced to me. I asked the listing agent about the price and she confirmed that it was over-priced! She actually told me the seller had it recently appraised for approximately $600k, but insisted on listing it for $900k.
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Tucson real estate : Months of Inventory

Posted on August 18, 2011 by Lisa Bayless

Months of Inventory (MOI), is the amount of current inventory (homes currently for sale) divided by average monthly sales. This is a good indicator of market health since it measures the amount of time it will take to elimate current inventory. In general, a market is considered “balanced” when MOI is 6 months.
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Tucson Real Estate : $2.2 million home sells in the Catalina Foothills (Ventana Canyon Mountain Estates)

Posted on August 18, 2011 by Lisa Bayless

A home just sold in the Tucson Catalina Foothills (Ventana Canyon Mountain Estates) for $2.2 million. I believe the sale also included the lot next door (not included in the listing sheet) This is great news for the Tucson luxury home market Continue reading →

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