January 20, 2008 by Donna Anderson.
Tucson 30 year fixed conforming (under 417K) conventional mortgage rates are now at 5.625% and jumbo (over 417K) 30 year fixed conventional rates are at 6.375%. These weekend rates were reported by Long Mortgage, Cindy McKearney, Foothills Office, tel # 520-918-3762. What a great time to buy or refinance!
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January 11, 2008 by Donna Anderson.
Great news Jumbo– 30 year fixed Interest Rates– are finally down to 6.5%–these are for loans over 417K. This rate was published by Long Mortage today. What a great time to buy; rates have not been this low for quite some time!
Rates for Conforming–30 year fixed Interest Rates–are down to a very low 5 3/4% which is very low indeed! This rate is for mortgages less than 417K.
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January 11, 2008 by Donna Anderson.
The chief local brokers gave their analysis on what to expect in 2008 in a large local meeting on Wednesday. Overall they expect market stability. The changes I have noticed from last year are that fewer Sellers are listing their homes unless they are very serious about selling. Last year at this time I saw many people try to sell their homes at peak or over peak prices to see if they could get the price. Most found out that few Buyers would pay peak or over-peak prices. Many Sellers missed a more opportune time to sell their homes when they could have sold for higher prices had they been more realistic. Those Sellers have completely left the markeplace. Also many agents that were not serious about the profession have left. This is a job that demands the full -time attention of a tenacious, caring and detail-oriented person to assist buyers and sellers in a market that has been in flux and may be stablizing. I believe 2008 will go down is the best year for Tucson buyers due to large inventory of good houses that are priced right and interest rates that are projected to become the lowest that we have seen in four years. I do believe the market has bottomed out.
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January 4, 2008 by Donna Anderson.
I have listed a really well priced property at 7502 E Wandering Rd. The future purchaser will have a rare opportunity to reside in a 3,000 square foot–2002 built home–with pebble-tech pool and waterfall backing to over 3 acres of pristine desert with views of the Santa Catalinas. Recently the property has been professionally staged since some buyers had difficulty imagining furniture in the large 2 story family room. This home would have sold 3 times over had it not been for the need to usually put 10% down on jumbo loans as of mid-August of last year. If you would like to see this home, give me a call at 520-615-2598.
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January 4, 2008 by Donna Anderson.
Great news–interest rates on conforming loans (those at 417K or less) for 30 year fixed loans at Long Mortgage are at 5.875%. Jumbo loans (those at 417K or more) are at 6.625% for 30 year fixed loans. What a great time to buy! Interest rates are rarely this low and there is good inventory of homes for all those who want to find their place in the sun!
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December 18, 2007 by Donna Anderson.
It is very surprising, but true: there are many potential buyers looking at homes in the Foothills this December. November was pretty slow, but December has picked up tremendously. The word is out that prices may have hit rock bottom and interest rates are good. While the housing inventory is good for buyers, they are out shopping!
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December 5, 2007 by Donna Anderson.
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.
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December 4, 2007 by Donna Anderson.
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.
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November 29, 2007 by Donna Anderson.
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 .
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November 25, 2007 by Donna Anderson.
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.
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