Tucson real estate recovery: Tucson Electric Power power line extension to be free again

Tucson Electric Power’s power line extensions, for new customers, will again be free.
State regulators again re-instated free power-line extensions to new homes within 500 feet of Tucson Electric’s distribution system.
 
This is important since many home builders have said the extra costs of the line extensions (approximately $8,000 for each new home, for large custom homes the cost can be up to $30,000) is a serious impediment to new construction which is already in a slump.
 
Regulators have said the free power line extensions are an important component of the real-estate recovery.
 
Of course nothing in life is free….. Tucson Electric Power can seek to recover its costs at its future rate hearings.
 
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Posted in Marana real estate listings, Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , , , | 11 Comments

Ventana Canyon real estate: Market overview of this Tucson Catalina Foothills community

Ventana Canyon is a wonderful gated community in the Tucson Catalina Foothills. It currently has 30  homes for sales with a list price between $345,000 – $6,200,000. There are many good deals available in Ventana Canyon now.
 
Over the past 6 months, 13 homes have sold with a sales price between $269,000 – $1,195,000.
 
Below find links to all listings and sold (past 6 months) properties in Ventana Canyon as well as a link to a comparable market analysis for the community. 
 
Ventana Canyon listings
Please contact me with any questions.
Realtor, Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.
 
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Posted in Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , | 5 Comments

La Paloma real estate: Market overview of this Catalina Foothills community

La Paloma is a wonderful gated community in the Catalina Foothills. It currently has 26 homes for sales with a list price between $179,000 – $1,990,000. There are many good deals available in La Paloma now.
 
Over the past 6 months, 17 homes have sold with a sales price between $250,000 – $1,640,000.
 
Below find links to all listings and sold (past 6 months) properties in La Paloma as well as a link to a comparable market analysis for the community. 
 
Please contact me with any questions.
 

La Paloma listings 

La Paloma Comps.

Realtor, Lisa Bayless, specializes in Tucson Catalina Foothills, Oro Valley and Marana home sales.

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Posted in Marana real estate listings, Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | 1 Comment

Tucson homes for sale: good deal in the Catalina Foothills!

Alright, for those of you looking for a good deal in The Foothills here’s one….

Below find a link to a home located in the gated very exclusive Miramist subdivision (across the street from Ventana Canyon). This home is a bank approved short sale and was purchased for $850k in 6/10. It is now aggressively priced and a good deal for this fabulous neighborhood!

Miramist home

Let me know if you would like to learn more.

Realtor, Lisa Bayless, specialized in Catalina Foothills, Oro Valley and Marana home sales.

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Posted in Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , , , , , | Leave a comment

Estimating a Property’s Value: Comparative Market Analysis

 A good way to learn about a property’s value is to ask a Realtor for a Competitive market Analysis (CMA). A CMA is an analysis done by real estate agents to estimate a home’s market value. It is not an appraisal.
 
A CMA lists comparable recent sales and includes not only home prices but also property data including beds, baths, size, year built, acres and more. A CMA should list comparable sales that are no more than 6 months old. Sales that are more than 6 months old are outdated and are not a good measure of a property’s present value. A CMA that lists recent sales in the target property’s immediate area (like homes in the same subdivision) is always best. Home values in different subdivisions (even if they are just a few miles away) vary greatly, so it’s best if the analysis stays in the same subdivision; or at a minimum only compares sales in comparable subdivisions.
 
To become better informed, I strongly advise both buyers and sellers insist on getting a CMA for their property of interest before proceeding forward with a real-estate transaction.
Realtor, Lisa Bayless, specializes in Catalina Foothills, Oro Valley and Marana home sales.
 

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , | 2 Comments

Tucson real estate : Staging tips, how you can make your home more attractive to buyers

Tucson real estate : When showing your property, you only get one chance to make a good impression. Here are some suggestions to increase the desirability of your property to potential buyers, and help you sell at the best price, in the least amount of time.
 

Curb Appeal is Essential – A buyer’s first impression is formed by viewing the outside of yourproperty. Trim plants and trees, weed your front back and side yards, use leaf blowers to remove leaves, pods, plant debris. Inspect the exterior of your property, including shutters and windows. Steel or aluminum siding should be clean. If the house needs painting, buyers will notice, and may consider it a major objection to purchasing your property.
 

Pay close attention to the front door – it should sparkle. Polish the doorknob, clean the glass and replace worn screens.
 

Neatness Counts – A sparkling clean home greatly enhances its appeal to buyers. Scrub each room from top to bottom covering every nook and cranny. The entryway, kitchen and bathrooms are key areas, and should be given special attention. Shampoo the carpeting if it hasn’t been done recently. If your carpet is old or matted it will be a detriment to selling the property. Consider replacing it or removing it if there is hardwood underneath.
 

Eliminate Clutter – Closets, cupboards and other storage areas should be neat and uncluttered. Box everything you do not use regularly and donate it, sell it, throw it away or store it. Look at each room in the house with “less is best” as your objective. Remove unneeded furniture to make each roomappear more spacious. Kitchen counter-tops should be clear of everything except what you use daily.
 

If it’s Broken, Fix it – Repairs such as loose door knob, broken dishwasher, dripping faucet and squeaky or sticking doors all detract from a property’s value. An afternoon spent making needed repairs now can eliminate buyers’ objections later. Hire a professional, if needed.
 

Small Additions Make a Big Impression – With minimal expense, you can improve the appearance of any room. Consider replacing worn area rugs and throw pillows. New towels can freshen a tiredkitchen or bath. Flowers add warmth and charm to any location. Identify the things you can do to make areas more pleasing to a buyer.
 

It’s a Team Effort – Enlist the help of all household members to get the house ready – and keep it ready – for prospective buyers. A few minutes spent tidying up each morning can make the difference for a showing in the afternoon!
 
Realtor Lisa Bayless specializes in Tucson Catalina Foothills, Oro Valley & Marana home sales. Contact Lisa for all your Tucson real estate needs.
 
 

 

 

 

 

 

 

 

 

 

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , , , | 4 Comments

Pricing: Over priced homes viewed less by buyers

Setting your asking price correctly, is the key to a successful sale. Below find data (from Long Realty) which examines how a home’s pricing, relative to its actual market value, determines the amount of buyers who will view it.

Asking price relative to actual market value                  % of buyers who will view the home

+15                                                                                        10%

+10                                                                                       30%

Market value                                                                      60%

-10                                                                                       75%

-15                                                                                       90%

Overpriced homes attract less buyers. In this competitive market, overpriced homes stay on the market longer and usually have price reductions in order to sell.  Seller’s remember: if your buyer is getting financing the lender WILL require an appraisal.  If the home does not appraise, the lender WILL NOT give the buyer a loan for the previously agreed upon purchase price!  Many deals fall through because homes do not appraise.

Realtor, Lisa Bayless apecialized in Foothills, Oro Valley and Marana home sales.

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , , , | 1 Comment

Months of Inventory: Tucson Area Luxury Market

Months of Inventory (MOI) reflect the time period required to sell all the properties on the market given the number of closed transactions in the preceding month, provided no new product becomes available. The market is considered “in balance” when there is 6 months of inventory.

Below find the months of inventory for the entire Tucson area luxury market.

Price                                        # Homes on the mkt.                                     Months of inventory
$800-899k                             55                                                                     19.3

$900-999k                             46                                                                     46

$1,000-1,249k                       56                                                                     14

$1,250-1,499k                       36                                                                     36

$1,500-1,749k                       30                                                                     30

$1,750-1,999k                       27                                                                      27

$2,000k and up                    37                                                                      (no recent sales…)

Humm…. in the luxury market, there is a BIG gap between supply and demand. Too many homes for sale and not enough buyers; this is why months of inventory is so high.

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

Where buyers found the home they purchased

If you want to successfully sell you home, its crucial to understand buyer behaviors. Below find a list of where buyers found the home they purchased.

Realtor: 38%

Internet: 37%

Yard sign: 11%

Friend, relative or neighbor: 6%

Builder: 4%

Print newspaper advertisement: 2%

Directly from seller: 2%

This means the majority of buyers find the homes they purchased through a Realtor or the Internet. With this in mind, it’s important that sellers post quality photos of their home on-line and make their home easily accessible to Realtors.

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , , , , | 1 Comment

Foreclosure notices at 3 year low in Pima County!

According to the AZ Daily Star, foreclosure notices in Pima County has hit an almost 3 year low!  For the 1st time since Nov. 2008, less than 700 property owners (693 in total) in Pima County received notice that their loans were in default. To put this in perspective, in 2006, when the market peaked, an average of 240 foreclosure notices were issued monthly. June 2011, was also the 5th straight month the number of notices declined, relative to last year!

Lenders begin the foreclosure process by giving property owners “notice” that their loan is in default. Receiving notice does not necessarily mean a property will ultimately end up in foreclosure.

This is very good news for the Tucson area real-estate market, since the market will not recover until the current and future inventory of foreclosure properties drops considerably.

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Posted in Oro Valley Real Estate news, Real Estate News, Tucson Foothills Real Estate news, Tucson Real Estate Listing, Tucson Real Estate news | Tagged , , , , , , , , , | 1 Comment