Reid Sossong, RPA, Broker

Newsletter Archives 2000

"Buy a home through me, and I'll pay you $1,000 at closing." Visit my Home Page to seen my entire web site: Pictures of Homes & Clubs Reid, schedule us in when we visit Tucson Newsletter Home Page

12-26-00 Canyon Pass at Dove Mountain is in Phase 3 with lot prices between $200,000 and $450,000. The homesites are 1.5 to 2 acres in size.

There are 27 additional holes of golf that just broke ground west of the Gallery Golf Club in Dove Mountain, and eventually a Hyatt Regency Resort Hotel should compliment the area.

Two more weeks until the Tucson Open. On Thursday and Friday the Pros will play at Tucson National and The Gallery Golf Club in Dove Mountain.

12-07-00 Jumbo loans are currently $252,700.00 and up. Beginning January 1st, 2001 jumbo loans will be $275,000.00 and higher. Jumbo loans cost slightly more because the loans are not backed by Fannie Mae and Freddie Mac, the giant goverment-sponsored loan purchasers.

12-05-00 FYI, Most of Tucsons Country Clubs do not require members to be residents. So, if you located near the Country Club you liked the possibilities for housing really opens up.

Tucson Country Club memberships are currently selling for around $23,000.00.

The latest word on the Cottages, by the Gallery Golf Club in Dove Mountain, is they will be on the market soon with prices, square footages, lot sizes etc..

If you notice this time of year in pictures, or while watching the Tucson Open coming up in January, the yellow grass around the gree fairways and greens is dormant bermuda grass.

11-28-00 Tucsons newest golf course, located in southeast Tucson, del Lago should be opening December 8th. They say there are 9 shining lakes.

11-27-00 The Tucson Open is just 6 weeks from now, January 8-14. The Open will be televised on saturday and sunday on cnbc. Thursday and Friday rounds will be played at The Gallery at Dove Mountain and Tucson National Country Club with the weekend rounds being played at Tucson National.

11-24-00 Tucson's destination hotels and resorts scored the highest average among all U.S. markets in the prestigious Zagat Survey. In addition to the highest average score, the Tucson area placed two lodgings atop the list of stand-alone spas, number one was Miraval and number four was Canyon Ranch.

11-20-00 Sabino Springs has 12 resale homes on the market with the lowest priced at $190,000 to the highest at $680,000. The rest are priced in the $200,000-$300,000 range. If you are considering a lot, Sabino Springs has 21 lots in a secluded area called Coronado Vistas priced from $100,00 to $150,000 on Approximately 1/2 acre lots.

11-15-00 El Conquistador Country Club now has both 18 holes open again. The courses are in decent shape. I think they overseeded a little late and the frost in the mornings is making it difficult for the grass to take hold. Update on the homes around El Conquistador ( Canada Hills ) is positive. The inventory of resales is only 35 + home priced from $142,000 to $525,000. And, you can purchase a nice home on the golf course from $185,000 at less than $100 per square foot, Wow.

0-31-00 Happy Halloween!

The Gallery Golf Club at Dove Mountain is just reopening from overseeding. Membership has reached 200 and the membership deposit will be increased to $45,000 on December 1st 2000. Still no word on the golf cottages and there are only a few lots left at Vaquero.

10-28-00 Ventana Canyon Country Club has 20 homes on the market starting at $212,500, with 7 listings over a million dollars. Also, 17 of the finest home sites in Tucson are available between $210,000 and $1,200,000. Land cost is usually 20-35% of the overall cost when you build a home.

Stone Canyon currently has zero resales or spec homes available. However, there are lots available. The golf course should be opening in a few weeks.

Dove Mountain has 3 spec homes on the market all with exceptional views and quality construction. Prices are $1,275,000., $1,300,000., $2,150,000.

10-21-00 A proposal to build a $160 million Hyatt resort hotel in Dove Mountain will go before the Marana Town Council Tuesday. It will include a 27 hole golf course

10-16-00 Yesterday, I played Santa Rita Golf Club southeast of Tucson. They just finished overseeding and the course was in very good shape. The cost/benefit is excellent, but it is alittle bit of a drive to get there.

Rancho Del Lago update. The word I received is the golf course will be opening the end of the month. Homes should start to be available soon. Rumor is that golf course lots will be in the $15,000 range, however, the lots will be around 5500 sq ft. Home base prices will range from $110,000 to $160,000, plus upgrades and any lot premiums.

10-11-00 Well, its a nice warm rainy October day today. Also, yesterday was 10 degrees below normal. All this after the warmest September for Tucson.

Sabino Springs has a new subdivision by Genesee homes with base prices from $140,000 to $170,000. The lots are small and low-care with some on the fairway. After I go through the models I will update you.

Also, The Raven golf course at Sabino Springs just reopened today after reseeding. I can't imagine it getting any better.

10-9-00 Yom Kippur, Happy Columbus Day, Happy Thanksgiving Day Canada. Interest rates are sliding close to 7.5%. El Conquistadors golf courses are looking fantastic. The 20+ subdivisions around El Conquistador is known as Canada Hills. Homes are in the 100s to 400s.

9-29-00 Tucson National Country Club has started to reseed 9 holes and the other 18 holes are still in great shape. Some of the greens are exceptional fast. Tucson National Country Club gives you a great feeling of tradition and all the trees and water make it a true oasis in the desert. September has gone on record as the warmest September for Tucson.

9-19-00 Mortgage rates dipped to a nine-month low this week after falling from a high for the year in mid May. Fixed 30-year mortgage rates averaged 7.88%.

9-16-00 IRI group that purchased Forty Niners CC last year just purchased San Ignacio golf course in Green Valley. They will be putting their professional management skills to work in GV.

Reseeding will be starting in the next few weeks at most courses. If you were planning to visit then and play golf you may want to check the course(s) you would be playing to be sure that they are not reseeding. Reseeding= green courses all winter.

The real estate market in Tucson is still in a positive trend. Sales are up 10% since July and incredibly over 50% of the homes sold are selling within the first 30 days on the market. The average sales price for single family homes in August was $168,908, compared to $156,995 a year ago.

My cost spreadsheets are updated and should be online soon. If you want me to fax or send you copies just let me know.

9-12-00 Stone Canyon is scheduled to reopen it's golf course November 15th of this year. Membership is still the same and lot prices. Also, there are approximately 10 homes under construction so the area is looking more like a neighborhood. I have said it before, I think Stone Canyon and Ventana Canyon are the top golf communities, with La Paloma and Dove Mountain within sight.

9-1-00 Last weekend I played in a scramble tournament at Sabino Springs to help sponsor the U of A Hockey and local charities. Great day, great course, great food and beverage, and all for a great cause.

Summer is coming to a close and in the next couple of weeks I will be updating my spreadsheets with any new fall prices and stats.

8-22-00 Real Estate auctions are surfacing for air, and the online real estate auction sites want you to believe it is a rush to buy a auctioned home online. I wonder if the rush will continue after the purchase? Without a dissertation, in my opinion auctions favor the seller with reserve limits and the auctions are usually for properties that can't sell on the regular market.

8-19-00 Interest rates are dropping below 8% again.

The federal Electronic Signatures in Global and National Commerce ( E-SIGN ) Act, making contracts and other legal documents legally binding when when signed electronically, becomes effective October 1, 2000.

8-17-00 Dove Mountain, Canyon Pass Phase 2 opened with 61 lots and has 24 lots still waiting for the right person to build their dream home. Also, at Dove Mountain, no word on when the golf cottages will be opening.

The Vaquero at the Gallery ( Dove Mountain, The Gallery Golf Club ) has a few remaining lots surrounding holes 4, 5, 6 & 7. Prices are between $225,000 to $725,000.

8-15-00 Are you familiar with a one time close construction loan? You pay the interest on the draws and when you close the construction loan automatically converts to a permanent loan. Basically the savings is only having to close once.

8-4-00 Tucson has not seen a new resort since the Westin La Paloma opened in 1986. However it appears that three new resorts will land in Tucson in the near future: a Ritz-Carlton at Stone Canyon, the Marriott Resort at Starr Pass, and another unnamed resort at Dove Mountain.

I'm still chasing Rancho Del Lago in southeast Tucson, and it won't be long before Tucson has another golf community.

7-25-00 Dove Mountain looks like a resort project is "imminent", according to a Marana official. Additional golf courses are planned for the area, but announcements for them have not been made.

7-24-00 The Tucson Open Golf tournament will be the first official PGA tour event of the 2001 season. The early rounds will be a two course event with the Tucson National Country Club continuing as the headquarters, and the Gallery Golf Club in Dove Mountain as the second site.

7-12-00 Northwest Tucson is leading the housing growth according to the new permit volume. US Home's Heritage Highlands, a retirement community in northwest Tucson, leads the way for subdivisions. Also, interest rates have dropped below 8% to 7.85% on a 30 year fixed rate mortgage. I think Tucson will continue in a strong steady growth pattern. Why? Because people buy the climate and casual atmosphere as well as a home when coming to Tucson.

7-9-00 Look for new additions and updates to my luxury home cost spreadsheet. Remember to think area first. You can usually find a home in the area you like, but you can't change the area around the home.

7-3-00 Sabino Springs has two new areas waiting to weigh in as soon as they receive the public report. Both areas are graded and lot improvements are being made. I'll keep you updated.

6-30-00 Summer golf in Tucson is spectacular. I worked my way around La Paloma's Ridge and Canyon courses today and our twosome and another twosome felt like we chartered the course. Great day, clouds rolled in and dropped 15 minutes of rain on us to cool us off ( remember Tucson has low humidity ). If you want a great golf/housing area take a gander at La Palomas prices from $130,00 to Over a million.

6-29-00 Forty Niners Country Club has new initiation fees, $2,500 for an individual and $3295 for a family.

6-28-00 Did you know that there are 8 golf communities with home prices starting in the low 100s in Tucson, and three golf communities with prices starting between $150,000 and $200,000. Also, Ventana has Golf Villas priced from the low 200s.

6-27-00 Stone Canyon Update: Membership initiation fee has been raised to $75,000 plus $75,000. Ask me. The golf course will be closed until November to finish the remaining details. Note: If you purchase a lot in adjacent Honeybee Ridge you can apply for membership at Stone Canyon. Lots in Honeybee Ridge range from $250,000 to $550,000. Let me be your real estate broker in Tucson.

6-23-00 ***NEW AREA***Rancho Del Lago is located in southeast Tucson. The golf course is expected to open in September and I should have the housing information by the end of July.

6-20-00 Thanks for your support. I missed a few weeks of the newsletter and received a number of emails telling me to get back to work.

Dove Mountain on June 9th closed their first lot sale over a million dollars (did I spell that right) at $1,100,000.

Stone Canyon followed up on June 14th with their first sale over a million dollars at $1,057,500.

Call me to discuss all of Tucson's communities and prices. 1-800-997-4701

6-18-00 Sabino Springs Update: The 22 custom home sites recently opened will be called Coronado Vista and will be priced between $100,000 to $149,000. Nestled in the quiet east end of Sabino Springs ten of the sites will have fairway views.

Dove Mountain/Canyon Pass has two spec homes on the market, one is priced at $1,188,000 and the other at $1,987,000.

6-16-00 The Ridge at Ventana is nearing completion with homes priced in the $500,000 range. Golf, city, and mountain views along with Baird construction makes the area truly an opportunity.

5-31-00 Rough day at the office today, I had to play golf at the Raven at Sabino Springs. It still lives up to its excellent reputation, from the services to the golf course its all good. My props to The Raven Golf Club.

5-5-00 Sabino Springs just opened 22 additional custom home sites. The lots will be 16-22,000 sq.ft. in size and priced from $100,00 to $135,000. The site has excellent golf, city and mountain views.

Stone Canyon received the public report from the Arizona Department of Real Estate. Phase two will be opened soon.

4-28-00 Stone Canyon has submitted its public report to the Department of Real Estate on it's second phase. That means it is only a few weeks away from being able to sell the lots in phase 2. Stone Canyon is Tucsons newest most exclusive/expensive Country Club.

4-27-00 El Conquistador Country Club started renovation on the Sunrise Golf Course. It is scheduled to reopen in October after re-seeding.

4-25-00 Tucson National Country Club will be raising their initiation fee from $12,500 to $15,000 in September of this year.

4-14-00 March weighed in as the second highest number of permits for Pima County. Also, the average new home price was $157,133, and the median price was $137,010.

4-12-00 Dove Mountain update: 8 truly southwestern custom homesites remain, around holes 4,5,6 & 7 of the Gallery Golf Club, in Vaquero at the Gallery. Price range $225,000 to $725,000. Just north of the golf course 32 secluded home sites remain in Canyon Pass Phase Two. Priced between $145,000 and $1,350,000. If you have questions call me at 1-800-997-4701.

4-10-00 The Gallery Golf Club now has 172 members with limited outside play. On May 1st the initiation deposit will be increased to $40,000. Also, I will be receiving updated information this week for the real estate around the The Gallery and will report.

4-7-00 Yesterday I played Tucson Country Club and loved it. The course was in excellent shape, as always. Manicured to the hilt

4-5-00 Ventana Canyon Mountain Estates has 16 lots for sale from $265,000 to $1,145,000 including the last four lots of the developer. This unique area and Stone Canyon are without question Tucson's premiere communities.

4-4-00 Thinking of a golf course lot? Call me and I'll explain the opportunities of each area.

3-28-00 Sin Vacas has 14 lots on the market.An exclusive majestic gated community high in the foothills. Spectacular mountain and city views, with rock out croppings. A few of the view lots would require minimum site improvements.

3-26-00 Monterey homes in Sabino Springs offers 4 models priced in the low 200s, plus upgrades and any lot premiums.

Sterling homes in Sabino Springs on Thursday opened phase 3 and had about 6 sales the first day. Homes are based priced in the $155,000 to $171,000 range. They offer mountain, city, and golf course views.

3-20-00 Stone Canyon is about 6 weeks away from releasing the public report.

3-21-00 Sterling Springs called me today and said they will be releasing prices on Thursday.

3-8-00 The real estate market is close to the end of the first quarter and it has been and I believe will continue to be a good steady market. Prices are holding with the exception of a few new developments.

3-3-00 Heritage Highlands (US Homes retirement community in Tucson) will be opening a new phase with 148 lots with lot premiums from 0 to $100,000. Let me send you an information package on Heritage Highlands or pick up the phone and call me to discuss Heritage Highlands and the other retirement communities.

2-25-00 Considering a new mortgage when you buy a home in Tucson? From my research Pinnacle Mortgage has the best rates and service. Nova home loan would be my second choice.

2-18-00 Hacienda Del Sol has only two lots for sale at $120,000 and $150,000. Also, seven resale homes are on the market between $550,000 and just over a million dollars. Ask for details on this very special part of Tucson.

2-11-00 El Conquistador CC has made vast improvements to the tees and greens on the sunset course with only one temporary green left. Improvements to the sunrise course will start in March.

2-9-00 Forty Niner CC has had new owners since september 1999. The improvements include the driving range, clubhouse, course, and new carts. Also, Forty Niner CC is now semi-private which seems to be working out to everyone's benefit. It is definitely one of the best golfing values in Tucson.

2-7-00 Considering land to build a home on? The northeast, north, and northwest areas of Tucson have great opportunities. There are 400 listings in the $100,000.00 plus range to choose from. The northeast has 3.3 acre lots averaging $150,000.00 with a rural southwest flavor. The north offers city and mountain views with the most unique lots in Tucson, well, except for Stone Canyon in the northwest.

2-4-00 Pima Canyon just released 25 more lots. Located high in the foothills, very majestic scenic views. Acre lots priced between $155,000 to $370,00 (non golf).

2-4-00 Mountain Cove located below Sabino Mountain has only 5 acre lots. Also available are 2 spec homes. City and mountain views. Definite quality (non golf).

1-12-01 I just received an e-mail asking my thoughts on having a pre-inspection? Yes, absolutely have a pre-inspection if you are a seller. It eliminates surprises during the inspection period and helps justify your price. Another thought for both sellers and buyers is to have individual inspections performed. If you think the plumbing could be bad have a plumber come out and do an inspection, or an electrician to check the electrical, or a heating/cooling professional to look at the heating and cooling system. Home inspections benefit everyone in the transaction.

1-10-01 The date feels like a binary code. Be sure to watch the Tucson Open this week, it should be exciting with Thursday and Friday play at Dove Mountain and Tucson National.

Saddlebrooke has 106 resale homes on the market. Prices range from $106,000 to $575,000. The majority of homes are in the 100s & 200s. Saddlebrooke is a very active adult community.

Sun City, located in northwest Tucson, has only 9 resales homes on the market. Built from the mid eighties to the mid nineties, Sun City is a popular adult community.

Heritage Highlands, located a little further northwest in Dove Mountain, is a US Home gated adult community. Heritage Highlands currently has 17 resales from $133,000 to $357,000.

Questions? Please call me at 1-800-997-4701.

1-1-01 Where did last year go? Anyway, things have already started picking up with interest rates dropping to 7%. Should be another good year for real estate in Tucson. There are still excellent home sites available in a number of subdivisions. Ventana has about 19 lots on the market with prices from $160,000 to $1,200,000.

Honey Bee Ridge next to Stone Canyon is the real sleeper because you can apply for membership in Stone Canyon. Honey Bee Ridge has 13 lots on the market from $250,000 to $750,000 and all are just over an acre. Sabino Springs, with Raven Golf Club, has custom homesites that just came on the market, and several new subdivisions. If you are thinking of land to build a home on call me and lets discuss the areas and prices. Also, I will work with you on finding the right builder that fits with you and the type of home you want to build. Happy New Year.

2-3-00 Sabino Mountain recently opened with 14 hilltop lots and 73 valley lots. The hilltop lots are unbelievably priced from $100,00 to $150,000. The valley lots are priced between $10,000 to $60,000. Very special part of Tucson worth seeing (non golf).

1-28-00 Take a look at my spreadsheets on Golf and Real Estate Costs. I just updated them.

1-27-00 Dove Mountain: The Gallery Golf Club has opened The Pro Shop and Restaurant. They currently have 138 members from 27 different states. The membership fee will increase to $35,000 on February 15, 2000. Ask me about the surrounding real estate properties.

1-24-00 I will be updating my spreadsheets soon with a few changes (increases).

1-21-00 If you are planning a visit to Tucson and would be interested in seeing the PGA or LPGA tours remember the Tucson Open is February 21-27 and the LPGA is March 5-12.

1-20-00 Ritz-Carlton, five star hotel, in Stone Canyon was approved. The 300 room destination resort is expected to open January 2002.

1-3-00 Stone Canyon has targeted mid February 2000 for the opening of the Stone Canyon Club course. The membership deposit for Stone Canyon will be increasing March 1st, 2000 to $50,000.00. Phase 2 lot reservations are being taken and the public report should be released soon.

1-2-00 Sterling Springs in Sabino Springs has one remaining lot, and will be opening up a pitch shot down the street a new subdivision with the same Sterling quality. Prices and lot information should be release soon. Ask me about Sabino Springs custom home sites and other subdivisions.