It appears that at the end of 2007 the real estate sales numbers will be very much like the 2002 figures.  It is very important to note that the Tucson average sales price has gone up 44% in the past five years and many of the Tucson Foothills luxury homes have gone up quite a bit more.  Real Estate is very local and neighborhood- driven. 

Although it may prove surprising to some: Illegal aliens are seeing fewer problems with all types of previously funded mortgages. Individual Taxpayer ID # loans are doing quite well.  They are seeing much  lower rates of foreclosures than the average home owner who has financed his house!  The Wall Street Journal had an article on this recently.

Interest rates for conforming loans–those under 417K-have dropped to under 6%! No wonder I have seen so many people viewing my Foothills listing in the past week!   This beautiful house is priced below-market at 550K and has gorgeous mountain views on over 3 acres; it was built in 2002. Other features are 3 car garage, fireplace, silestone counter tops in the gourmet kitchen with island, pebbletec pool; it is gated and has 3,000 finished square feet.  The property is located at 7502 E Wandering Rd –  MLS # 20744464.  It is quick walk from the house to Sabino Canyon.  You can see its brochure on the bottom of the front page of my website: www.DonnaAnderson.com .

I opened today’s newspaper and found headlines that said Forclosures are all over Tucson.  This simply is not so.  And unfortunately, for Realtors, as a result of this article we will get buyers asking to see these so-called multiple foreclosures in the Foothills.  There are very few and most that are in foreclosure are condos.  Buyers in the Foothills almost always put down 20%  and many put down more or pay cash.  I really do not know how to rectify this false report.  Real estate is always regional and in the areas of Pima County where there is a lot of new construction going on and that have the least expensive real estate, there are more than the usual number of foreclosures.  Many of these buyers were strapped to get into houses and in the past few years it has been way too easy to get loans with low documentation and poor credit scores. This year I had one Seller that was not in this situation, however, he had to pay a 10K prepayment penalty fee when paying off his loan. Some lenders were predatory and now the price is being paid by those who wanted a piece of the “American Dream”.  It is very sad, but now we will have most people who buy homes able to afford them.

I have noticed that lately sales are picking up in areas that attract the snowbirds such as Ventana Canyon Golf Villas.  Usually the best time to buy is between Thanksgiving and New Year’s since there are fewer showings then and the Sellers feel more anxious.  So you snowbirds who are reading this, do not wait until February and March when many snowbirds buy: you want to be one of the few looking and buying houses and not be competing with the pack. This is good solid advice and it comes from lots of experience. Any buyers needing to view homes in the Foothills or Oro Valley, give me a call. I will be around during both holidays.

Lately buyer traffic is picking up in the Foothills and stats prove the market here is stabilizing! Real estate is always local and the Foothills is faring much better than the surrounding neighborhoods. And if you don’t believe me —ask the buyers: there is not an over-abundance of  Foothills homes on the market now! In fact, many buyers are complaining that there is not enough “good houses” in their price ranges. Keep in mind  that even with all the national news negativity about the real estate market, one-half the markets are doing just fine. Interest rates are low; 6/14% for 30 year fixed conforming loan (less than 417K) and 6 3/4% for a jumbo loan (over 417K). The Foothills has never had many buyers getting interest- only loans or 100% loans, and most who buy here do not have credit problems.  Other factors that have helped keep the Foothills market from  faring poorly are that there has been very little building going on in the past 5 years; in fact, vacant land is almost non-existent; the best schools are located here, and this is where the most sought after golfing, shopping, art galleries, etc are located. The views are “Switzerland in the Desert”. The best time for buyers to purchase is now; the market always slows down during the holiday season and since the Sellers will see fewer potential buyers they will be more anxious to sell. So savvy buyers– get out there and buy your Foothills home!

The highest sales price in Tucson is now 8 million and was recently sold by a fellow agent in my Long Realty Foothills office. The property is located in Ventana Canyon.  The Long Realty Foothills office sells more luxury Tucson real estate than any other real estate office in Southern Arizona.  We all seem to sell a lot of our listings right within our office.  It is a high energy office with tremendous networking opportunities when marketing luxury Foothills properties.

My family and I just returned from a few day getaway at Camelback Inn in Scottsdale – Paradise Valley area.  Camelback Inn’s  surrounding landscape looks much like Tucson, which is unique to Scottsdale  area that seems to move away from the natural pristine Sonaran desert beauty to contrived manicured lawns with palm trees.  However, to be perfectly honest, where I live in  the Tucson Foothills is more spectacular with more than a few Mountain Ranges enveloping us.  In fact,  in the beauty category, Tucson  has Scottsdale beat by miles.  Some other big positives are the lack of air pollution  and much less congestion in Tucson versus Scottsdale ….it was great getting home and now I appreciate where I live much more.  I kept wondering why people seeking a second home or a place to retire don’t always explore Tucson or beautiful neighboring Oro Valley.  I know Scottsdale is more popular and I guess from my standpoint, I do not know why. 

I have two really beautiful listings; I am so grateful to have them because they are so pretty and so unlike the other listings that are on the market that I am sure they will both sell quickly.  My newest listing–is at 4099 N Ocotillo Canyon Drive in gated upscale Sabino Mt.  It has the most beautiful views at dusk; mountains in front; mountains in back. The inside looks better than new and is so upgraded. Outpost built this semi-custom house only 4 years ago and when the Sellers moved in they kept upgrading.  This one-story home is almost 2,600 square feet with 3 bedrooms and 2 baths and priced at $600,000.  Visit my open house on this Sunday, Oct. 28th from 1-4 to view this treasure.

The other listing–7502 E Wandering Road- is set on almost three and one-half acres and has incredible Santa Catalina and pristine Sonaran desert views.  The pool and waterfall make this one a special desert-mountain retreat. The land alone is worth the $550,000 list price. This one is a two-story house with 3,000 square feet (4 bedrooms 2 1/2 baths)was built by D. Horton five years ago; it has a 3 car garage and is gated.

 Call me at 918-2410 for an appointment, or have your agent call me for the gate code. You will not be sorry!

I just listed a better -than- new  custom (Outpost- built) home at 4099 N Ocotillo Canyon Drive in Sabino Mountain. The list price is $600,000 and it has almost 2,600 finished square feet. You will not believe the great views front and back of the mountains and the desert. This 4 year old home has been so impeccably maintained and then upgraded by the owners that you will feel like you are stepping into a brand new home. The landscaping is so artistic and exquisite and invites you to stay outside to drink the views and nature that surrounds you. The floorplan offers a front formal living/dining combination with den/study on the other side of the entry. The gourmet kitchen faces the breakfast nook and spacious family room with fireplace and beautiful views. The master bedroom, master bath and walk-in closet is enormous and also faces the pretty views. The list of upgrades in this house is long. This one promises to please the fussiest buyers; call me at 918-2410 if you would like to view it.