August 28, 2009 by Donna Anderson.

I know this is not about real estate, but I just have to say the following:

It is a huge loss for the country and Massachusetts that Ted Kennedy has passed away. I was lucky enough to grow up in Massachusetts and was constantly exposed to the bigger-than-life Kennedy family. In fact, my Dad who was a staunch Republican changed to become a Democrat once he was retired and had the time to watch C-Span on which he watched the Senate. In watching Ted Kennedy, he became an ardent Democrat.  Ted Kennedy gave his all for Massachusetts. He cared for the poor, the sick, and those who were discriminated against. Until the day he died he fought for the aspirations of his brothers- John  and Bobby. I am certain National Health Care will be attained and we will all be grateful for his enduring fight that he never gave up so the rich and poor alike would have access to affordable medical care.  He inspired so many and the dream will live on!

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August 26, 2009 by Donna Anderson.

In 2007, after the market started declining in Tucson, 10861 E Adobe Creek Place (MLS # 20918718), sold for over 1.2 million. Now the list price is a mere $799,900. I have seen this property and it has amazing pristine Sonoran Desert and Catalina Mountain views! Located on almost 3.5 acres, it is a nice, almost 3,400 square foot, size.  Fetzer Ranch  is a premier gated community, mostly built in 2003 and is  located 30 minutes from Mt Lemmon. It is surrounded by national forest.  What a gem! What a steal! There still are some very amazing deals going on in the Catalina Foothills.

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August 23, 2009 by Donna Anderson.

Remember if you want to obtain the up to 8K tax credit (10% of purchase price up to 8K), you need to heat up your home search without delay. It can take up to 45 days to obtain a loan. Keep in mind, as long as you have not owned a home in three years, you may qualify for the tax credit, even though this is not the first home you have owned.  Additionally, to obtain the full credit your income should be 75K or under if you are single and 150K or under if you are married.

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August 21, 2009 by Donna Anderson.

Yesterday I wrote about the upswing in prices of Tucson Foothills homes in the price- range 400K-500K. In fact in the last month and a half there have been 25 homes that have closed escrow. This price -range is moving as fast as the 300K-400K price-range that had been moving much better until recently.

I want to give some more specifics about these sales in the price -range 400K-500K: most are listed or sold with Long Realty agents with the top producing office as  the  Long Foothills office and there is also a good representation of agents from Long-Tanque Verde office and Long River - Campbell Office.

The neighborhoods with the most sales are: 3 sales in Fairfield, 3 sales in Shadow Hills, 3 sales at Coronado Foothills, 3 sales at La Paloma, 2 sales at Hidden Valley and 2 sales at  Villages of Ventana.  Clearly the bargains are out there for great homes under $500,000. I have noticed that the inventory is depleting, so those who want a great deal, buy now before there are less good choices. Mortgage rates are hovering just over 5%. DON’T WAIT! If you want to explore the market, give me a call at 520-615-2598 or email me at Donna@DonnaAnderson.com .

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August 20, 2009 by Donna Anderson.

The 400K - 500K price range in the 85718 and 85750 zip code is heating up! The buyers are scooping up the bargains and this has led to 25 homes that have closed escrow since July 1st.  The majority were sold in less than four months with more than a few that sold in less than a month!

The Number  of Homes that have sold with the following amenities:  (Remember there were 25 total)

Pool                                      16

One-story                           22

3 Car Garage                        6

Over 2,500 sq.ft.               12

10 yrs or newer                    4

Over 1/2 acre                         9

Short Sale                               1

Previously this price- range was not moving as well as the 300K - 400K price range, because in the lower price-range many buyers took advantage of FHA loans with as little as 3.5% down .They have to put down more  money in the higher price- range, typically 10% up to 417K loans and they need an even higher downpayment for loans above 417K.  Now both price- ranges are doing equally as well. This is proof that the Foothills market is coming back and  is turning away from being a Buyer’s Market. The deals are tremendous and the buyers are no longer waiting for prices to bottom in homes priced under 500K.  Seller’s still have to price their homes aggressively and pay close attention to curb-appeal and  to sparkling interiors to keep up with the competition.

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August 20, 2009 by Donna Anderson.

Gosh, August is supposed to be slow for the Tucson luxury housing market, but those 1 million plus buyers are smart and they know the Summer is the best time to buy in Tucson. The snowbirds are no where to be found and that increases their odds of getting a great deal!

Here are the sales for August 1 - August 19, 2009:

Under Contract:

List Price: $1,040,000       Ventana Canyon          (foreclosure)

List Price: $1,060,000        Alta Vista

List Price:  $1,175,000        Alta Vista

List Price:  $1,295,000      Naranja RIdge Estates (NW Tucson)            (Short Sale)

List Price:  $1,900,000     The Foothills II              (Short Sale)

Closed Escrow Homes (Sold):

$1,050,000     Santa Cantalina Estates

$1,087,500      Stone Canyon (NW Tucson)

$1,120,000      Shadows Hills

$1,232,000      Catalina Foothills Estates

$1,300,000      Ventana Canyon

$1,386,000       E. Talante Canyon Pl   (NW Tucson)       (Short Sale)

$2,100,000      Pima Canyon

It should be noted that many “Short Sales” do not make it to close of escrow; however, E. Talante Canyon Place did close in August. It is much easier to purchase a “Foreclosure” than a “Short Sale”.  In a ”Short Sale” the lender has to approve the usually vast amount the Seller comes in short, whereas in a “Foreclosure” the lender has already taken back the house and is motivated to quickly sell it.

Other Notes:

All houses are North Tucson, except those as noted as Northwest Tucson.

Homes under contract have an unknown final sale prices, and most of the time the list prices are higher than the final sales prices.

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August 18, 2009 by Donna Anderson.

As I look at the present housing inventory for sale in the million plus range  in the  Tucson Catalina Foothills, it is very apparent that in the past few months there have been many aggressive price drops. These homes are bargains compared to the prices the same houses would get in the past three years. However, there are many for sale that are wishfully thinking that prices have not declined. These houses, of course, will not sell. Make sure you have an excellent real estate agent who knows the market, so he/she can weed at all these over-priced homes for sale, so you will not waste time. For the serious buyers, there are serious Sellers that are offering some fabulous deals on exquisite luxury homes with views to die for! This is a great time for luxury buyers in the Tucson homes market!

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August 15, 2009 by Donna Anderson.

There were 129 sales in the prime Tucson Foothills zip codes of 85718 and 85750 and this is the breakdown:

under 100K              1

100K - 200K            20

200K - 300K            29

300K - 400K            20

400K - 500K            21

500K - 600K             10

600K - 700K             11

700K - 800K               4

800K - 900K                1

900K - 1 mil                 3

1 mil - 1.5 mil               6

2.1 mil - 3.25 mil        3

No doubt sales are increasing, especially in the $600,000 - $700,000 range that had been particularly hard to sell in the first six months of the year.  The over 1 million homes that are priced right continue to sell, but the vast majority seem over-priced and the buyers are passing on these homes. The price range under 500K is increasing sales.  Most homes are selling at 2004 prices.  As time goes by, real estate agents are no longer interested in listing over-priced homes and this is reflected in the depletion of inventory and increase in sales.

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August 13, 2009 by Donna Anderson.

It is a very serious “Buyers Market” for the over 1 million price range in the Tucson Foothills.  Although you would never know it by the way Sellers are reacting to Buyers’ Agents trying to make appointments on many of these homes. Many still want the Sellers’ Agent to be present at showing. This makes no sense whatsoever since the Listing Agent will then make the appointment according to what best suits his/her schedule. And many have no Keysafe on the front door that makes for easy access for the buyers’ agent. Many have alarm codes, however, the listing agent can give the buyers’ agent the alarm code when he/she makes the appointment. Gate codes can also be given when the agent makes the appointment.  The listing agents need to educate the Sellers–Do you really want to sell your home? If you do, then make it as easily to view as possible. The over million dollar price range is very difficult to sell now, since, finally this price range has felt the affects of depreciation. Last year was hard to sell these homes when the economic climate was questionable, but it was  ”a walk in the park” to sell expensive homes compared to this year when the buyer is clearly in charge unless you are selling a model-perfect home, with drop-dead gorgeous views at a bargain price. It is time to get real!

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August 12, 2009 by Donna Anderson.

Ventana Canyon Resort is a magical place;  it is perched in a Santa Catalina Mountain ridge that is surrounded by the Sonoran Desert.. The world famous golf course is is another draw.

 This AAA 4 Diamond Resort is offering rates as low as $79 per night through September 7th. The rates go up to $129 a night for September 8th - December 31st.  Upgrades are as low as $10 per night.  Mentioned blackout dates are September 5th, 23-25th and November 13-15th.

 These rates can be booked on their Loews Ventana Canyon website or by calling 800-234-5117.

 Stay in luxury while exploring the Tucson Foothills Luxury Homes Market.

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