You are currently browsing the Tucson Luxury Homes weblog archives for August, 2009.
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Archive for August 2009
July 2009 in the Tucson Foothills
August 4, 2009 by Donna Anderson.
Funny thing is July 2009 is the third hottest month on record, and at the same time it is the best month for the Tucson Foothills sales this year! I scratch my head and wonder how this can be when many agents are out this month on vacation. It is clear that the tipping point has been reached for homes priced 400K and under and, in fact, it is a slight Sellers’ market. Inventory is very low and that is why it is no longer a buyers’ market in this price-range. Still we find some Sellers who have their homes very over-priced and these homes are unlikely to sell even though there is a tremendous market improvement.
Remember– in this price range most buyers take out a mortgage, so the houses have to appraise. Appaisers look most closely at sold comparable homes that have closed escrow in the past three months. So although it is likely prices will go up a little in this price range, I do not expect more than a slight increase.
There is no doubt in mind that the bottom has been reached for homes in the Tucson Foothills priced 400K and below!
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Wow! July Tucson Foothills Sales Beats out the Last 3 Years of the Same Month!
August 1, 2009 by Donna Anderson.
It is very unusual for the Tucson Foothills to have high homes sales numbers in July; in fact, it is usually the slowest or one of the slowest months of the year. Top agents go on vacation since they know few sales are to be made this time of year. But this year it is different–there have been more sales than any other month this year and more July sales than we have found in the past 3 years during the same month. It seems as the stock market stabilizes and moves dramatically higher in July, so does the Tucson Foothills homes market.
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