You are currently browsing the Tucson Luxury Homes weblog archives for May, 2008.
- Foothills Luxury Homes (560)
- Oro Valley Luxury (5)
- May 18, 2012: Russ Lyon Sotheby's Sells a Home Listed Over 2 Million!
- May 15, 2012: Popular Pima Canyon Has Yet Another Sale!
- May 15, 2012: Two-story Ventana Canyon Comtemp Sold
- May 14, 2012: Ventana Canyon Home Under Contract
- May 12, 2012: Ventana Canyon Home Under Contract
- May 9, 2012: Another Sin Vacas Home Sells
- May 9, 2012: Sin Vacas Beauty Under Contract
- May 3, 2012: Thirty Luxury Catalina Foothills Homes for Sale 1-1.5 Million
- May 3, 2012: A Lucky Seller Waited Only 13 Days to Sell His House
- May 3, 2012: Thirty-four Luxury Homes in Catalina Foothills 800K - 1 Million
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
Archive for May 2008
The Truth About What is Going on in the Tucson Luxury Homes Market
May 27, 2008 by Donna Anderson.
There are not too many listings in the two prime foothills zip codes of 85750 and 85718; however, there are not many bonafide buyers out there either. As a result, most realtors are now spending much of their time with buyers who are not really sure if they want to buy now, and they are not sure if they want to buy here or Scottsdate or Santa Fe, etc. So if a house listed for sale gets 5 showings in one month, 4 are probably not motivated buyers and they are likely not to buy any house in the immediate future. In a hot market most real estate agents would not spend much time with these unmotivated buyers. Since many of the homes stay on the market for over six months, more than a few Sellers are leaving the marketplace since they know in order to sell they have to sell their homes at a lower price than the last comparable home sold for and that house sold for less than the one before, etc. The good news about this situation is that there has been too much supply and way too little demand, so those Sellers who vacate the market are doing a big favor to those who most relocate and must sell their homes. In most price ranges, only the “real plums” are selling and they better be priced aggressively. The one exception to this is the price range between 1.4 million and 2 million; this price range seems to have picked up lately with more than a few homes getting multiple offers. Since inventory is dropping, 2008 should be the bottom as far as prices for the Foothills. I doubt that the prices will go up in 2009, however. My guess is the market will move sideways. The buyers who are looking for great deals ought to get off their duffs now, because there truly will be even less to choose from soon and the only good news is prices for buyers will not be going up for at least a year and probably longer.
Posted in Foothills Luxury Homes | Print | No Comments »
Required Downpayments Which Will Affect Tucson Luxury Homes on Conforming Loans Likely to Come Down June 1st
May 17, 2008 by Donna Anderson.
Fannie Mae and Freddie Mac are likely to lower the downpayment requirements in Tucson. Currently the minimum downpayment requirement for Tucson is 10%. That is likely to change to 5% downpayment with an effective date of June 1st. Fannie and Freddie got a lot of criticism from the National Association of Realtors for chosing some areas as “declining” and therefore increasing the downpayment requirements. As a result, many realtors felt Fannie and Freddie were stigmatizing certain localities and leading to further downturns and problems in the local real estate markets that it noted were “declining”. This should help homes that are listed for sale that are up to $438,000-where if one has excellent credit, excellent work history, etc, one can purchase a home with as little as 5% down. Unfortunately this will not help local purchasers who need jumbo mortgages (those over 417K). At the present time most lenders require a minimum of 15% down even with excellent credit scores. If you would like me to refer you to an excellent mortgage consultant, give me a call at 520-918-2410.
Posted in Foothills Luxury Homes | Print | No Comments »
Please Come to my Open House at Sabino Mountain- a Tucson Luxury Homes Property- this Sunday
May 1, 2008 by Donna Anderson.
I will be holding open this Sunday (May 4) from 1-4 PM my listing in Sabino Mountain at 4134 N Boulder Canyon Place (range priced from 825K-875K). To see more details about this gorgeous home located in the Foothills premier gated community of Sabino Mountain go to my website at www.DonnaAnderson.com to the bottom of the first page–you will see photos, features and a floorplan. Hope to see you there; call me at 603-8622 to get the gate code.
Posted in Foothills Luxury Homes | Print | No Comments »