My Philosophy on Pricing Tucson Luxury Homes

When I list a home for sale I try very hard to convince the Sellers to list their home at a  very competitive price.  It is my belief that the Sellers net the highest price if the house is listed very fairly at its original list price.  I am noticing many houses are selling when the house has been listed for a long time and there have been many dramatic price drops.  If the house had been priced very competitively to begin with, it would likely have sold higher and quicker.  I do not list homes that are not priced competitively since I do not think listing a home higher than fair market value serves the best interests of my clients. 

FDR – Words of Wisdom

FDR said, “If, in accord with principle, we must restrict the operations of the speculator, the manipulator, even the financier, I believe we must accept the restriction as needful not to hamper individualism but to protect it…The government should assume the function of economic regulation only as a last resort, to be tried only when private initiative, inspired by high responsibility, with such assistance and balance as government can give, has finally failed. As yet there has been no final failure, because there has been no attempt; and I decline to assume that this nation is unable to meet this situation.”

My personal belief is the lack of regulation of credit default swaps has been the main catalyst of this economic crisis. Bundling sub-prime mortgages to investors and selling them insurance against defaults without enough financial backing when defaults occur is unconscionable.  I blame the problem on the greed of Wall Street and the lack of federal regulation.  The Feds knew the problem and chose not to fix it. And now many of us who had nothing to do with causing the problem are having to fix it. I guess this is the American way to be there to assist, but there are lessons to be learned. Be careful who we elect and if they are too in bed with Wall Street, we better beware.  I proudly support Barak Obama for President. I believe he will better represent all classes of people and that he better understands the economy. 

Paradise Valley – Camelback Inn – Less than 2 Hour Journey from Tucson

Every year my family and I take a 3 day weekend journey to Camelback Inn (Marriott Resort) in late September just before the  hotel rates go up in October.  We like the Scottsdale BMW dealer. So we couple a little getaway with our car being serviced.  This year, like the last two years of the same getaway to Camelback Inn, was quite enjoyable.  The setting is somewhat like our own in the Foothills of Tucson. We live at Sabino Mountain which is minutes away from Canyon Ranch, which to be perfectly honest, offers even a prettier setting than the Camelback Inn which is gorgeous!  Every year we come back, re-connecting with our beautiful community and embracing the rare gem of a community we reside in. The temperature is lower in the Tucson Foothills than Paradise Valley or Scottsdale; the mountains are higher and greener and the home prices are much less than Paradise Valley.  At the end of the trip I always scratch my head and say, “Why are more people not moving to  the Tucson – Catalina Foothills area– instead of Scottsdale and Paradise Valley?” I guess in some ways I should be happy since more people moving here would lead to congestion. Maybe we should keep our good thing quiet!

Great Getaway – Tubac Golf Resort and Spa – One Hour From Tucson

Tubac Golf Resort and Spa is only 1 hour away from Tucson and backs to the beautiful Santa Rita and Tumacacori Mountain ranges. The area is surrounded by cottonwoods, mesquites, water and wildlife–what a perfect retreat! Tubac is a little greener and a little cooler than Tucson since the elevation is about 800 feet higher.  The lodging is quite nice –the Casitas are just below $250 per night and are 800 square feet with a living room and separate bedroom,  and has a fireplace and a private patio. There are some other accommodations that are smaller or larger.  We ate at the Mexican restaurant–Dos Silos–the food was excellent and the margaritas were the best I have ever had. They also have another larger restaurant that was part of the orginal Otero Ranch Stables.  The furniture shop at Tubac Golf Resort had some of the nicest offerings of the Southwest. The 4,000 square foot Spa  offers a tranquil envirnoment with an intimate patio with soft music and whirlpool. The menu for hair, face,massage, and nail treatments is extensive. And, of course, it is located in a Golf Resort that offers 27 holes of championship golf and there are tennis courts, as well. The over 100 multiple artist shops of Tubac are only 1 mile away. You can find out more about the history of Tubac by visiting the Tumacori National Monument; the landmark represents the original settlement of Arizona territory in 1691 by Father Kino; most of these settlers later moved to become the first settlers of San Francisco. Visit Tubac Golf Resort and Spa website at www.tubacgolfresort.com .

Long Realty Tucson Just Listed a New Custom Luxury Home in Pusch Ridge with Extraordinary Mountain Views!

Wow! I just previewed an incredible new, custom, 2,161 square foot home right smack in the high Pusch Ridge! This Mediterranean home is sited on an incredible lot for this list price of  only $750,000! Although it is small with only 2 bedrooms  and  den, 2 1/2 bathrooms and 2 car garage, in the recent  past the homesite alone would be worth the list price.  It is sited on a lot with better views than many of the Pima Canyon homes which many believe offer the best views in Pima County.  Give me a call at 520-918-2410 if you would like to see this exquisite home located in one of Tucson Luxury Foothills premier gated communities.

My Opinion-The Best Candidate to be President

The economic climate is so turbulent now! My opinion is that Barak Obama is the best choice to be our next President. We need a brilliant person with a stellar educational background who can easily assimulate all the information from Wall Street and the World Market. If through some tragedy Sarah Palin ever had to assume the Presidency, it would even be a worse situation than if John McCain becomes our leader; she is a super-lightweight in economic affairs and does not have the educational background to be a good leader during the most turbulent economic time since the Great Depression.  It is  apparent  to me that much of the vast amount of US Dollars that we are flooding into Iraq has to be re-channeled into  re- boosting the American economy. It is unlikely that the man whose claim to fame is the “Iraq Surge” will be for a massive troop cut.  John McCain’s strength is not in economics and Sarah Palin does not have the background to become President on a moment’s notice. Barak is brillliant and inspiring; he is the leader America so needs now!

Opportunity Knocks for Luxury Homes in the Catalina Foothills!

If you have the bucks, now is the time to buy and get a great deal! Why? Pick up a New York Times (even if you are a “Conservative”) and you will find muliple scary answers. My long history  selling in good and bad times tells me that this is the best time to buy in over 10 years!  Many buyers will be scared off until at least the end of the year and, as a result, the  buyer who is brave and ready to take the plunge has much control over the negotiation with motivated Sellers.  There are a lot of motivated Sellers in the Tucson Foothills so there are many good choices.

Federal Tax Credit for First Time Home Buyers

I am not a tax accountant, so I advise you if you are interested in pursuing the first time home buyers’ tax credit that you consult with one to see if it will work for you. Also please verify the facts: this is my understanding of how it works.  A first time home buyer is one who has not owned a home in the past 3 years; in order to take the credit one must use the home as the primary residence; the cap is $7,500, but can only be up to 10% of the purchase price of the home; and  the home must be purchased between April 9, 2008 and June 30, 2009.  This credit is an interest-free loan; it all must be paid back; the payback is $500 per year via the federal tax return over 15 year time period. Buyers don’t have to begin repayments until 2 years after the credit is claimed. If the house is sold during this 15 year period, the remaining credit balance must be paid from the profit of the sale.  There are some income limits and it starts phasing out at a modified adjusted gross income  of $75,000 for a single person or for each married person if they file separately (not joint return) and  $150,000 for married couples filing jointly.  However, there is still some credit given for singles up to $95,000 and for joint filers up to $170,000.

 This tax credit, combined with the advantage of lower interest rates than I have seen in quite some time,  is a rare opportunity that I hope your family or friends can take advantage of.

A luxury condo  in the Tucson Foothills may be the perfect residence for the first time home buyer. In the past few years I have not recommended buying a luxury condo in the Tucson Foothills because I felt the prices were going to go down.  However, now I think it is a great time to buy a Foothills condo especially since I have witnessed tremendous deals of luxury one bedroom condos from the low $100,000s and 2 bedrooms from the mid – $100,000s to low $200,000s.  Many are very upgraded and back to the Catalina Mountains or Ventana Canyon.  Some are within walking distance to the pristine Sonoran Desert wonder of Sabino Canyon.  To view luxury Tucson Foothills condos for sale give me a call at 520-918-2410.

New Tucson Luxury Foothills Home Near Sabino Canyon

A.F. Sterling has one new spec home at Ventana Reserve which is near Sabino Canyon.  This 3,541 square foot– one-story home has a picture-perfect setting backing to the  high Santa Catalina Mountains and  is priced at $989,900. It offers a pool and spa, brick paver driveway and walkway, very upgraded tile floors  in  all the main living areas, a glass block shower enclosure, executive height vanities in the bathrooms, gourmet Kitchen with granite counters and stainless appliances, post tension concrete slab, alder wooden doors, central vac, a wine refrigerator in the Kitchen, a very upgraded fireplace and much more.

 The home is located on a “flag” lot which is one that is sited on a long driveway going to the back which offers more privacy that many buyers find very desirable. The incredible mountain views are worth any inconvenience the flag lot location presents.  It is located in District 16-Catalina Foothills School District. This community is not gated and all the homes in this very small community are semi-custom. Children can walk to Canyon View Elementary and Esperero Middle School from this beautiful home. Sterling is in the process of staging the house so the buyer can visualize his/her furniture in this very aggressively priced new luxury Tucson Foothills home.

There are so few opportunities to have purchase a new upscale home in the Tucson Catalina Foothills. This is another great investment opportunity.  The list price started at $1,034,900 four months ago and has moved down to $989,900.

 If you would like to view this home, give me a call at 520-918-2410.

Donna Anderson, Realtor,Tierra Antigua Realty 520-603-8622 www.DonnaAnderson.com