April 26, 2008 by Donna Anderson.
Many have wondered why there is space for many open enrollees in Catalina Foothills - District 16 since this school district is the most coveted in Pima County. The reason there is so much space is that in 2005 many of the apartments in that school district converted to condominiums. Most developers made the foolhearty move to not renew leases because they thought their newly converted condos would sell quickly. Of course they were wrong and there is a major glut of condos on the market for the past few years. The people who have bought these condos are mostly singles, young couples, and empty nesters; therefore, most were without children that are school-age. District 16 also could not take open-enrollees from Tucson’s largest school district until this year, because TUSD would not let the children out because it incorrectly believed (and wanted to keep the tax revenue, no doubt) that the discrimination suit provisions it had to follow included not letting kids open enroll. Of course, TUSD knew that if open enrollment was allowed many would chose to go to Catalina Foothills schools since the test scores are higher and many of the schools are located closer to the children’s neighborhoods.
The question is if you do not open enroll your child to Catalina Foothills - District 16 this year, will you be able to do so in the future? The answer is yes, if there is space available. To the best of my knowledge there still is space at some schools such as Ventana Vista Elementary. In years to come, there may be less space since there has been a mass exit out of TUSD of children from neighborhoods that are close to the District 16 schools. Once your child is in District 16 schools, it is most likely that he/she will be able to continue there until high school graduation.
To find out more about open enrollment, call Catalina Foothills Administrative offices at 577-5304 or drop by their offices on weekdays at 2101 E River Rd which is near the intersection of River and Campbell.
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April 23, 2008 by Donna Anderson.
It is apparent that the price range between $500,000 and $ 1 million is very soft in 2008. In fact, the number of sales has declined about 20% over the same period last year. There are many reasons for this: Jumbo loans (those over 417K) are at least 1% higher than conforming loans (those under 417K); in the present tight mortgage market the minimun jumbo loan downpayment has gone up to 15%; the self-employed who were used to low or no documentation loans in the past, now must give full documentation to get financing even when putting 20% or more down. And perhaps the most important factors are: those who can afford homes in this price range are tightening their belts since recession is either here or on the horizon, and there are those buyers that are still waiting for the perceived bottom of the market– they think it has not hit yet and are playing a wait- and- see game.
However, homes priced lower than $500,000 are faring better. FHA financing is becoming very popular with loan limits at $316,250 for Pima County; therefore, one can buy a home for approximately $326,000 and only put 3% down and credit scores do not have to be as high as those required for conventional financing. Also up to approximately $460,000 home sales price, one does not have to pay the higher interest rate of a jumbo loan and one does not have to put down 15%–the minimum requirement is 10% for conforming conventional loans.
This is a stressful time for Sellers, yet opportunity knocks for those motivated buyers out there.
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April 12, 2008 by Donna Anderson.
The active adult communities (usually planned for those age 55+) are outside the Tucson boundaries, however, there are some great alternatives within the Foothills area. Right now you can buy a very nice patio home in La Paloma in the $300,000s. La Paloma is located next to the premier Westin LaPaloma Resort and the coveted LaPaloma Golf Course. The scenery is spectacular and backs to the high Santa Catalina Mountains. The community is a 24 hour gated and guarded community and is right next door to the best restaurants and shopping in Tucson. There are community pools and spas and for an additional fee you can belong to the LaPaloma Resort. If you are willing to spend in the $500,000s and up you might want to check out Ventana Canyon Golf Villas. These detached single family homes are nestled in the luxurious Ventana Canyon Resort and Golf Course and also back to the Sonoran Desert and the high Santa Catalina Mountains and the location is minutes from Tucson’s # 1 attraction of Sabino Canyon and also minutes from the most sought after Foothills shopping, spas and restaurants. This community also has a 24 hour guarded and gated community.
Both LaPaloma and Ventana Canyon are great places to actively enjoy your retirement years! Both these communites tend to be better investments than the 55+ active adult communities since there are no age requirements for those who purchase there; there are always fewer for sale and the location is closer to the best amenities in Tucson.
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April 8, 2008 by Donna Anderson.
Long Mortgage announced today that it has a jumbo interest rate (for non-conforming loans at 417K and above) at 6 3/4% with 1/2 point loan origination fee. This loan also has a one- time free float down opportunity. Keep in mind, interest rates vary daily, but this is the best rate I have seen in a while.
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March 26, 2008 by Donna Anderson.
I will be holding open my beautiful listing in Sabino Mountain on this Sunday. If you are interested in previewing this home on Sunday, please call me at 603-8622 so I can give you the gate code. This superb home is range-priced from $850K-$900K and is built by Outpost; it is over 3,300 square feet and is casually elegant and is in better than new condition. The outside offers resort- style living with pebbletec pool (with in-ground cleaning system), sparkling spa, kiva fireplace and custom barbeque. The views are of the Sonoran Desert, the city (with sparkling lights at night) and the Rincon Mountains. The list of upgrades is very long: to see the floorplan and photos go to my website at www.DonnaAnderson.com and look at the bottom of the 1st pg of my website.
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March 20, 2008 by Donna Anderson.
Just a reminder– now Catalina Foothills - District 16 is accepting children open -enrolled from TUSD and you can open enroll your children at any time during the school year. Keep in mind, some schools could be full –with Manzanita Elementary being the most likely to be full. I know there is still room at Ventana Vista Elementary. This is a good time to check these District 16 schools out while school is still in session. It is great news for families residing in neighborhoods where the District 16 schools are actually closer to them than the TUSD schools they are districted to attend. Also many parents work near the District 16 schools and can just drop them off on the way to school. District 16 schools have a great after-school elementary program that is not expensive and is open early in the AM and at night until 6:30PM. This break-through change of policy allowing children out of TUSD will make homes districted for TUSD that are close to District 16 schools easier to sell.
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March 19, 2008 by Donna Anderson.
From my view, knowing what I know now about the Tucson Foothills after having lived and sold real estate here for the past 4+ years, I think if I were a snowbird and purchasing now, these are the features I would want: A gated community, a one-story home, and a less than 10 year old home. Since snowbirds live here for only part of the year, it is important to have the added security of owning in a gated community. Although it will not keep all intruders out, it acts as a deterrant. One-story homes are always easier to sell; as people age most of them prefer a one-story home, therefore, single-story homes usually appreciate more and are easier to sell than two-story homes. Lastly, I would recommend purchasing a home that is less than 10 years old because most likely there will be less maintenance in a newer home. When you are not living closeby you do not want to constantly depend on others to fix your problems and, after all, one of the reasons you have purchased a second home is so your life will be more hassle-free.
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March 8, 2008 by Donna Anderson.
I will be holding open my new listing at 4134 N Boulder Canyon Place (range priced from 850K-900K) from 1-4 tomorrow–Sunday March 9th. This 2003 Outpost built home has a fantastic floorplan for families and entertaining. It offers resort- style living with sparkling pebbletec pool, spa, custom barbeque and outdoor kiva fireplace. It is over 3,300 square feet with 3 car side entry garage. If you wish to visit the open house, call me at 603-8622 for the gate code. To see the brochure with floorplan and photos go to my website at www.DonnaAnderson.com.
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March 8, 2008 by Donna Anderson.
My best guess is the Foothills market–which is primarily in zip codes 85750 and 85718– has hit the bottom as far as prices are concerned. Like the stock market, it is next to impossible to pick the exact time when it hits bottom and then will gradually move up, but my best guess is it has arrived and perhaps is beyond having hit the bottom and it is on its way up. The inventory of good homes is depleting, so you snowbirds that are still here should not wait any longer, because when you come back next year, I expect you will not not have as many choices, and the ones you have will be more expensive. You may ask how do I know this? The answer is simple, I am always showing and previewing homes listed for sale in the Foothills which is the area in which I specialize and I do a “Daily Report” from the Tucson Multiple Listing Service to see what homes are newly listed, have been reduced, have gone under contract and have sold in the North and the Northeast of Pima County. When they sell I can see what the list price was and the final sales price and then I can also remember what the house looked like. It is really not rocket science. So this post will remain and I will look back in six months and see if my prediction was correct.
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March 2, 2008 by Donna Anderson.
I just listed a gorgeous almost 3,400 square foot home in Sabino Mountain –4134 N Boulder Canyon Place– that is located very close to Canyon Ranch and Sabino Canyon. This home is in impeccable condition (built in 2003) and has a one-story great room split floorplan that is great for family living and entertaining! Resort -style living at its best can be found here–with sparkling pebbletec pool and spa, kiva fireplace and custom barbeque, plus covered flagstone porch overlooking the pristine Sonoran Desert and the Santa Rita Mountains. Witness the sparkling city lights while sitting cozy in front of the kiva fireplace or enjoying your private spa. It is range priced from $850,000 - $900,000 which is an aggressive price–it was appraised in January 2008 for $925,000.This home will be held open today from 1-4 (March 2) and you can also view the brochure, floorplan and photos on my website: www.DonnaAnderson.com or www.TucsonHomesite.com by going to the bottom of page 1 and viewing the featured property.
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