1-7-05 Creative financing and low mortgage interest rates are still fueling the housing market. Example, Countrywide has a mortgage that allows the borrowers to skip up to ten payments over the life of the loan. Some lenders have piggyback loans that combine a first and second loan. Why would you want that? Some people may ask, the answer is the borrower will be coming into some money soon and maybe able to pay the second off and still have the first at a low rate. Or, you maybe able to circumvent the mortgage insurance and the second would give you enough money to have 20% down payment.

La Paloma, located in the north central part of Tucson and next to The Westin LA Paloma Resort, has condos to homes that are several million dollars. The Villages of La Paloma recently completed construction and has homes in the $500,000 to $750,000 range for resale's and represent an excellent value and location. La Paloma is in an ideal location to other parts of Tucson. If you love a first class country club environment with an upbeat feeling you will love La Paloma.

1-1-05 Happy New Year, and what will the new year bring? If you have any thoughts please email me at reid@reidtucson.com

Stone Canyon has indicated the grand opening of the swim, fitness and tennis center. This is the newest phase of The Stone Canyon Club and emulates existing spas that now define Tucson as a world-renowned health and wellness destination. Additionally, Stone Canyon is expanding the residential opportunities by introducing the first of its designer homes. Forty three of Stone Canyon's choicest lots have been dedicated to a new neighborhood called Tuscan Estates. Stone Canyon has designed the homes in the traditional Tuscan architectural style in sizes ranging from 3100 to 3900 square feet. Four home plans are available with base prices of the homes starting at $1,273,000 to $1,333,000 and lot premiums from $o to $440,000. Stone Canyon's base price includes masonry construction, Epicurean kitchens, Viking appliances, stone flooring and much more. Stone Canyon is one of Tucson's exclusive areas and with the new facilities and opening of Tuscan Estates there is tremendous excitement being generated.

12-22-04  If you are planning to build a new home in Tucson you may to add a few more months to your plan. The market is so hot the contractors can't keep up with the demand. 

I have been seeing the large builders, with their own mortgage companies, offering a few thousand dollars to you the borrow on top of beating the top lenders rates and costs.

12-19-04 The November statistics for the Tucson Association of Realtors Multiple Listing Service home sales are out and the average price for a single family residence is up 22% from last November at $226,000. Days on the market decreased to 43. The listing inventory shrunk 22% from last November. 

12-16-04 Tucson National Country Club, AKA The Omni Tucson National, has informed me that the additional 9 holes with new homes should be coming on board this spring. Tom Lehman will be the architect for the new desert style course and redoing the existing green course 9 holes. When the job is finished Tucson National Country Club will have a traditional 18 holes and a desert 18 holes. Concerning the housing, Tucson National Country Club doesn't have any information to release at this time. I guess when the bulldozers start to cut in the new course, then it will be for real.

Interest rates are hanging around in the 5.75% range for the 30 fixed mortgage. I heard that approximately 40% of all new mortgage loans are adjustable rates.  

12-12-04 I have been reporting for years that the top two school districts in Tucson are Catalina Foothills and Tanque Verde. Well, guess which school districts have the highest property values, according to the Pima County Assessor, the Catalina Foothills and the Tanque Verde school districts. Even if you do not have kids in school, the values in these areas are strong.

Sabino Springs, I reported a few weeks ago had 10 resale's and now the MLS shows 3. Unbelievable...

12-01-04  The Gallery Golf Club, located in Dove Mountain, opened the North Course six years ago with great success. The Gallery South Course was opened last Thanksgiving and is progressing positively. The Gallery Sports Club is scheduled to open after the first of the year and if you would like more details please contact me at reid@reidtucson.com. The Gallery Golf Club in Dove Mountain is located in northwest Tucson, and is probably 1 hour 15 minutes to  Phoenix. Homes in Dove Mountain range from the mid $200,000s to a couple of million. The retirement community Heritage Highlands is located in Dove Mountain and was the first community to be developed in Dove Mountain. There are a few phases remaining in Heritage Highlands with choice view lots waiting to come on the market.

Just a reminder: I can set you up to receive MLS listings as they come on the market via email. There are several ways to set up the criteria ( area, price range, community, radius, subdivision etc. ) and I can set you up to receive several  searches. Call me if you have questions or would like to be set up and start receiving listings immediately. Reid 1-800-997-4701.

11-28-04 The local real estate market is still hot with some builders holding virtual lotteries to handle the strong demand for homes. The lotteries are occurring in the entry level homes, however, it indicates how on fire the market is all over Tucson. The listing inventory for the MLS is 20.4% below this time last year. Days on the market is down to 41, and the average sale price for an SFR is $223,065.00. 

10-29-04 The residential sales statistics are out, however, instead of boring you with the numbers I'll sum it up and just say we are still in a hot market. Rates are still in the high 5s for a 30 year conventional. Happy Halloween. I hope you have a great weekend.

10-20-04 Homeownership is at its all time high, at around 70%. The US census Bureau started keeping track of the rate around 1960. The circular flow of money just keeps getting bigger.

10-16-04 The Arizona Department of Education released labels for the public schools Friday. As I have reported before, the top two performing school districts are Tanque Verde Unified and Catalina Foothills Unified Districts. Both received the highest label for each of their schools. I will save the article, let me know if you would like a copy and I will send it to you.

10-12-04 Interest rates are still hovering in the mid 5% range for the 30 year fixed.

We are still in a sellers market, with inventory levels low. Recently, I told you how low the inventory level was at Canada Hills. Well, over the weekend I was working with someone in the NE, particularly Sabino Springs and the inventory level for resale's is down to 10 homes in Sabino Springs. To give you an idea how low that number is for Sabino Springs there are 11 subdivisions in the area. Usually, each subdivision has several homes for sale. What this means is sellers are not coming off their price much if at all. We are definitely in a hot market, but not like Las Vegas.

On the golf front, we are still in the overseeding time of the year. Sabino Springs, home of Arizona National, just closed for two weeks. It is well worth the disruption to have the green green winter rye.

9-30-04 Tucson's current real estate is still in healthy shape. Our inventory levels are down around 14.4% this August compared to last August. Average number of days on the market decreased in August to 41. 61.2% of all closed listings sell in the first 30 days on the market. 

Did you know that Home Warranties can be placed on a home at any time?

9-24-04 Interest rates are hovering around 5.5% for a 30 year fixed rate. Here are some loan ideas; 10% down for a second home. 25% down for an investment home. On fixed rate loan amounts up to $1 million only 20% down payment. Payments that adjust to the index of your choice. That list goes on & on.

I have the elevations for Tuscan Estates at Stone Canyon. Located on the western edge of Stone Canyon, Tuscan Estates will have 43 designer homes in the 3,000-4000 square foot range and an optional guest home that is 700 square feet. Call or email me at reid@reidtucson.com or 1-800-997-4701. 

I read a article in the Wall Street Journal the other day that said people on the coasts are selling their high priced homes to move inland where you get more for your money. I could relate to the article, probably because I have an excellent area to sell "Tucson". No hurricanes, earthquakes or natural disasters helps, along with our casual lifestyle and reasonable prices. 

9-16-04 I have not talked about interest rates for a while, probably because they are still low around 5.6% for a 30 year fixed. With several hundred types of mortgages to choose from, a buyer needs to do some shopping and asking around to find the best situation. If you spend the time you can get creative and tailor a mortgage just for you.

It is that time of the year for overseeding the local golf courses. The Bermuda goes dormant, and the winter rye is planted. I hope you are not planning a golf trip to Tucson in the next several weeks.

Our prays are with all the people along the southeast coast.

If you are planning to build a new home or remodel an existing home one item to consider is the flooring. Why? Because the flooring manufactures are rolling out new options at a record pace. Laminated surfaces that resemble wood or marble is the industries biggest growth area. Also, colored concrete is popular.

9-10-04 Tubac Golf Resort, located south of Tucson and the site for the movie Tin Cup, will soon have more golf holes plus additional rooms and a destination spa. Tubac is a mature golf course that is extremely worth the drive to play. The club house is rustic with an awesome relaxing atmosphere, large windows with views of  mature trees.

Heritage Highlands, one of Tucson's premiere retirement,  is entering their final phases. Golf course lots are still available.

My laptop computer now has a sprint wireless connection. I will be able to access the MLS in the field. Technology, Wow!!

8-24-04  The 30 year fixed rate is in it's 3rd straight week below 6%. Mortgage applications are up as well as refi's. Existing home sales are down slightly and new home starts are slightly up for July.

8-13-04 The opening date for The Preserve at Saddlebrooke has been bumped to September 4th, 2004. Floorplans should be available soon with the completion of the models the end of September to the first part of October, 2004. Call me if you would like additional information at 1-800-997-4701.

8-11-04 Disclosures have been the hot real estate topic the last couple of years, with mold being a newer one. There is a mold disclosure form the buyer signs that basically recommends a mold inspection if the buyer has any concerns about mold in the property they are considering. Also, mold companies and individuals now have to be licensed by the Structural Pest Control Commission.

8-8-04 Interest rates dropped below the 6% mark this week. So, how's the market doing? In Tucson it is still a sellers market with prices still increasing. In determining the price it is not an exact science, but what a buyer will pay and a seller will sell the home. Let me give you an example, in northwest Tucson there is a popular area called Canada Hills with approximately 23 subdivisions. Currently,there are 13 listings on the market. Usually the area has 30 to 50 listings forsale. This still means it isa sellers market with the inventory of homes this lowand plenty of buyers wanting to buy.

Golf update: Allot of the golf courses are looking nice and green, even though the summer rains have been weak this year. I was at Oro Valley Country Club yesterday and the course was in excellent condition. Oro Valley Country Club is a true golfers Country Club. Today, I was at 49er Country Club and El Conquistador Country Club and both courses look great.

8-6-04 Yes, you can buy real estate with your IRA. All of your money does not have to be in paper. Most investors believe they cannot use IRA money to buy real estate. They are wrong. You cannot use IRA money to buy your own residence, or any other property in which you live. It has to be investment property. But when you retire, you can direst your IRA to turn it over to you as a distribution. At present, thebiggest drawback of the real estate IRA is you cannot mortgage your IRA. Similar to margin on stocks. If you are interested in the idea please contact your cpa or attorney.

8-5-04 The Tucson Airport Authority board on Tuesday approved a plan to build a second, 11,000 foot runway and additional facilities to help with future growth.

8-4-04 Interest rates on a 30 year fixed are still around the 6.15% area. With a 15 year fixed about 1/2% lower. Real estate seems to be strong across the entire country.

Just a reminder, I can email you listings automatically from the MLS. The searches can be by area, radius, communities that have several subdivisions, address or an MLS number. Plus, numerous criteria. However, too little or to much criteria can have a negative result. Give me a call if you have questions or would like to get hooked up and start receiving listings today.

7-28-04 Saddlebrooke is one of our top retirement communities just north of Tucson and will be opening a new phase called The Preserve. The new 18 hole golf course will be opened August 2, 2004 and the floorplans will be available in a few weeks.Also, the models will be ready soon. Prices are not available yet, however mysources have told me the prices should be in the $400,000-$500,000 range with 280 -4000 square feet homes.

7-26-04 The June 2004 Residential Home Sales from the Tucson Association of Realtors Multiple Listing Services reports that total sales volume increased 43.8% from last June's total. Total home sales units increased by 32% from the previous June. The average days on the market increased to 65 in June. The average sale price for a single family residence was $224,874.

7-16-04  Interest rates on a 30 year fixed rate mortgage are just over 6%. Yep, rates are still LOW.

The summer monsoons have been a nice welcome to summer this last week, and will continue through August. Some humidity, but not like Florida or ?

Want to know the number one upscale Country Club with the most atmosphere? No, not Stone Canyon.In my opinion the winner is Ventana.  

7-8-04  Despite a fed funds rate increase last week, mortgage rates have fallen. Rates on the 30 year fixed rate mortgages tend to move in tandem with the 10 year Treasurys, not the fed funds rate. However, in the main stream news all most people hear is rates are increasing. Rates on a 30 year fixed are hovering around the 6% mark after topping recently at around 6.37%. This good news for the real estate market.

7-1-04 I hope you have a happy 4th of July. According to the Homeownership Alliance report the national homeownership rate will likely exceed 70 percent by 2013 and the demand for housing will require the production of about 2,000,000 new housing units a year. Home appreciation should average around 5 percent a year from 2004-2013. What does this all mean? Real estate should continue to be a good investment.

6-18-04 The Tucson Association of Realtors MLS stats are out and it looks like May 2004 had an increase in the total homes sales volume of 29.6% from last May. A significant change occurred in the average days on the market from 52 days last May to 75 days this May. This is signs of a buyers market coming. 

6-15-04 In the past five years, home prices nationwide have appreciated more than 40% on average. Tucson is probably above average and usually has been in the past. When interest rates increase Tucson home prices may level off a bit. However, with a strong economy and job growth people should still be able to enter the home market even with an increase in interest rates.

Recently, I mentioned I was updating my spreadsheets. The update should be finished soon and be online.

6-1-04 Yesterday, Tucson broke the 100 degree mark for the first time this year. That means summer is really here and the golf fees will start dropping at every course. The middle of the day is hot, but the early mornings and evenings are cool. Also, are friends to the north ( Phoenix ) are usually 3-10 degrees hotter then Tucson in the day. At night Tucson cools down, but in Phoenix the heat continues into the evenings and can be 100+ degrees at 10:00pm.

Tucson Country Club is sometimes overlooked. Why? The most common reason I have heard is the homes are older. However, every year you see a few homes being gutted and remodeled because the location, area, club and mature landscaping make is worth remodeling. Now, the second reason people overlook Tucson Country Club is " I do not want to buy a house and remodel it". Then look at the ones that are already remodeled. There are some phenomenal homes in Tucson Country Club with prices ranging from $400,000 to $1,700,000. The location is almost in central Tucson and close to every possible amenity. But, when you enter Tucson Country Club you feel like you are in your own special world.

5-21-04 Some of you already know that Forty Niner Country Club and Arizona National ( formerly the Raven) have the same owner. However, did you know that now you can join both clubs with Forty Niner CC as your home club on a Roadrunner Membership costing $7,500 for the initiation. What a deal, if you have questions about the golf, schools, area and homes call me at 1-800-997-4701.

5-19-04  The Gallery Golf Club has two 18 hole golf courses now and rotates members and public play everyday on the two courses. Initiation is still at $65,000 and they have a few trail memberships also.

The Tucson Association of Realtors MLS reports April 2004's total home sales increased 37.2% from last April. Average days on the market increased to 64 in April, 2004 compared to 53 last April. The average sale price for a SFR was $221,705 in April, 2004. What does all this mean? I think we are still in a strong market even as interest rates hover around 6%. Even if rates go a little higher Tucson will have a good real estate market because we are not just selling a home but the area, casual lifestyle and weather etc.

5-17-04 Stone Canyon, as I mentioned recently, is one of Tucson's most expensive gated communities. Nestled deep within the Tortolita Mountains the community comprises 1400 acres with distinctive custom homesites in the 1-5 acre range. The custom homesites start at $285,000 to over a million. If building a custom home is not something you want to undertake, then Stone Canyon has the perfect situation for you. They have opened an area in Stone Canyon with 41 lots that they will be building homes on in the million to 2 million range. The tennis and fitness facility should be finished in about 90  days. Also, Stone Canyon is in discussions with a new resort group for the area adjacent to Stone Canyon where the Ritz Resort was planned. Stone Canyon would allow two foursomes a day from the resort to play Stone Canyon. Total full membership at Stone Canyon will cap at 390 memberships. The clubhouse will commence when membership reaches 175 memberships. In the meantime, there is a temporary clubhouse members can use. If you have questions about Stone Canyon please contact me at 1-800-997-4701.

5-15-04 I'm updating my golf and housing costs spreadsheets. Some quick updates are Arizona National (formerly The Raven), has increased its initiation fee to $25,000. with dues of $4,500 for the year. Tucson Country Club has increased their initiation fee to $27,500 with monthly dues of $485. Please verify all costs before making any decisions.

5-10-04 I heard Oro Valley Country Club voted to remodel their clubhouse. Oro Valley Country Club is a great tree lined golf course built in the 50s, with one of the lowest caps at 350 members. The real estate surrounding Oro Valley Country Club ranges from townhomes to luxury homes on an acre. Many of the homes are elevated with excellent views of Oro Valley and the golf course.

Stone Canyon has several resale homes on the market, all are over one million in price. Stone Canyon is Tucson's most expensive country clubs located in the northwest in a sea of boulders.

Heritage Highlands Golf and Country Club has an annual fee of $2,040 that they bill monthly for golf membership. Remember, on all golf costs please verify the cost before purchasing. All the Clubs change their fees from time to time. Also, Heritage Highlands will have Lennar Homes joining them in building out the remaining third of the area.

4-21-04 The Tucson Association of Realtors MLS reported a 47.6% increase in sales volume for March 2004 compared to March 2003. The average sales price for SFRs was $220,706 in March 2004 an increase of 20.6% compared to March 2003. Average days on the market increased to 60 in March 2004, that figure has been climbing slowly the last couple of years.

Heritage Highlands is one of Tucson's retirement communities and has a good mix of activities, number of people to golf holes and a positive atmosphere. US homes is still building homes and there are some excellent resale's available.

4-4-04 The better than expected jobs report last Friday has some people concerned about interest rates increasing, even though the economy is improving. From what I hear the fed wants to see several months of job improvement before it considers increasing interest rates. In my opinion, interest rates can only go in one direction and that is higher. How about slightly higher.

Recently, I was asked when the road construction in the Northwest is going to be completed. The Tangerine road should be completed soon with the intersection at Tangerine and Thornydale later in the year. Also, La Canada is probably going to be completed this year. I think the real answer is there are always road projects in Tucson and for the good.

3-24-04 The February MLS residential stats are out, and the Tucson real estate market is still strong. Total home sales volume increased 27.6% from February last year, while home sales units increased by 13.9%. The average sales price for SFRs was $201,978 this February compared with $179,456 in February last year resulting in a 12.6% increase. Average days on the market has increased to 61 compared to 55 for February 2003.

3-23-04 Interest rates are still LOW. The rates on a 30 year conventional with 20% down and excellent credit are in the low 5s. The lenders have so many programs to choose from it is hard for the lenders to know all of the programs.

I just got back from LA and Phoenix, and to be positive all I can say is check out Tucson before you buy in Phoenix or California. Give me a call and lets talk about Tucson and what it has to offer, Reid at 1-800-997-4701 or reid@reidtucson.com.

Want a home on the golf course? Yes, we do have homes on the golf course starting around $200,000 up to several million. There are approximately 150 homes list for sale that are on the golf course. If you are thinking of coming to Tucson now would be a good time, the weather is perfect and golfing is prime right know.

3-9-04 Recently, I have been asked if I think interest rates are going up this year? Probably, would be my answer. However, I am not an economist ( like they are always right ) and it seems if the economy starts to heat up they will raise rates. The last few days the stock market has been beaten up and the labor situations still persists, that will help keep rates low for the approximately 95% of us who are working.
 
If you are thinking of Tucson and want the best all round Country Club my pick would be El Conquistador CC.

2-22-04  The Tucson Open is this week and will be telecast all four days on USA network. I hope you get a chance to watch and see what Tucson looks like. The tournament will be played at Tucson National CC which is a traditional tree lined course in northwest Tucson. Tucson National has townhomes and single family homes for sale. The club actually has 27 holes of golf with another 9 planned. The new 9 holes will be a desert style course. The $15,000 to join Tucson National as a full member is a bargain with all the club has to offer, world class spa facilities, golf, tennis, several restaurants and overall an established positive atmosphere.

2-17-04 The MLS 2003 statistics are out and as you could guess it was a good year for real estate. The number of home sales increased by 10.3% over 2002. Total dollar volume increased by 16.3%.The average sales price increased for all property types by 5.4%. Conventional loans were by far the most common type of financing. The most expensive area is the North, then the Northeast followed by the Northwest. Average days on the market in 2003 were 54 days.

2-13-04 Starrpass country club is expecting to have the Marriott Resort opening by the end of this year. Should be a nice addition to the Tucson destination resorts already here. The resort will have 575 rooms with spa facilities and the current 18 hole golf course that was recently redesigned, as well as a new additional Arnold Palmer designed 18 hole golf course. There are still lots available and resale's homes in Starrpass.

2-12-04 Saddlebroke, one of Tucson's top retirement area for the last 15 years is about 75% sold out with around 4,000 homes already sold. The resale market is always hot at Saddlebrooke with about 40-60 homes for sale from time to time.
 
Rancho del Lago, located southeast of Tucson in the Scenic Rincon Valley, is a fairly new master-planned golf community that currently has six homebuilders building around the del Lago Golf Club. Rancho del Lago is far from the middle of Tucson but close to I-10 which makes it a quick trip to the heart of Tucson. The golf course has 9 lakes and rates between $33 -$89 with the cart included. Homes range in price from the $140s to the $250s. I have played the course several times and give it a thumbs up for playability and services.

1-26-04 The Gallery Golf Club at Dove Mountain has just opened their second golf course and the sports club is under construction and should be opened by the end of this year. The Gallery has several subdivisions including Golf Villas, lots and a sale-lease back situation. Dove Mountain is being developed by the same group that built La Paloma. Questions? Call me at 1-800-997-4701 or email me at Reid@reidtucson.com.

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12-18-03 Members of Ventana Canyon Golf and Racquet Club have purchased the small resort, ( 50 guest rooms ), and golf course. The sale doesn't include Loews Ventana Resort. Word is they paid $15.5 million for the facility, which cost $15 million to build in 1983 and last sold in 1996 for $28.3 million. When I find out additional information I will let you know. I was a member of Ventana in the late 80s early 90s, and truly enjoyed the club, course and atmosphere.

12-15-03 The Tucson Association of Realtors MLS reports that November's 2003's total home sales volume increased 5% from last year. Now for the shocker, the average sale price for single family residences was $185,206 in November, 2003 compared to $192,226 in November 2002. What is going on? We just caught Saddam, the Dow is over 10,000, interest rates are still low. We will have to see if this is a trend or a one month fluke. Average days on the market increased to 53, and about half of all sold listings sold within the first 30 days.
  
If you are looking for a condo in Tucson you should really look at Canyon View Condos by Ventana Canyon CC and resort. 1, 2, 3 bedrooms are available in the 700, 900, 1100 and 1200 square feet approximate ranges. The area is absolutely stunning with excellent views and an upscale feel. Prices are in the $150,000 to $225,000 range.
 

11-26-03 Happy Thanksgiving to you.
 
IRI, the owner of 49er CC, wants to return 49er CC back to a private club. The criteria is related to the membership numbers. In order to improve membership they have been improving the golf course. Future improvments include expansion of the Pro shop and the remodeling of several golf holes. A new grill, tennis courts, and a fitness facility. I live in Forty Niners and look forward to the completion of the improvements. I was a member at 49er in the 60's and have always enjoyed the Club, however I guess there is room to improve.

11-14-03 A "hot" new idea is being used when a seller receives multiple offers on their house for sale. Agents are using multiple counter offer forms, that allows them to counter everyone's offer. The Realtor's will soon have a standard form out, but for now some of us have are own multiple counter offer form. If you would like discuss this or any other topic please give me a call at 1-800-997-4701.
 
A question I get asked frequently is about finding the right lender. Not all lenders are the same and with a little research and help from your Realtor ( me ) it is not that hard. One of the main items to get is a good faith estimate and focus on the actual lender costs. If you would like me to send/fax you an example copy and review it with you call me at 1-800-997-4701.

11-11-03  In general, the percentages below reflect how important each of the categories are in determining your FICO score.

• Payment history- 35%

• Amounts owed-30%

• Length of credit history-15%

• New credit-10%

• Types of credit used-10%

The Tucson MLS stats for October show a home sales volume increase of 17% from last years October. Days on the market moved up slightly to 56. Average sale price is $186,301 up 11.7% from last October. The year to date total units sold are 9.1% ahead of last year.

11-01-03  Most mortgage companies today have approximately 150-200 types of home loans; Stated income, 80/10/10, long floats on new construction, all kinds of ARMs. The bottom line is almost anyone breathing can obtain a new mortgage. Along with low interest rates and the many types of loan programs it is easy to see why the real estate market is so strong. Jumbo loans are approximately 1/2% higher then the going rate. Jumbo loan amounts are amounts over $322,750.

10-28-03  After a cooling down period following the stock market bust a few years ago, high-end homes are poised to make a comeback. I believe it will be the stock market rise that will fuel the luxury home sales. Corporate profits are up, business investment is growing, rates are still low low. These trends are putting the pieces in place for renewed interest in luxury homes. Also, Alan Greenspan is making positive comments. Wow

Locally, new home builders seem to be offering attractive incentives. The market is not bad or slow, it's the competition between them that has heated up. Let me help you try and get a better deal when you buy your new or resale home in Tucson.

10-23-03  The Tucson Association of Realtors Multiple Listing Service reports that September 2003 total home sales volume increased 32% from last years total. September's average sale price for all residential types shows an increase of 15% to $188,293. The average days on the market decreased slightly to 50 in September.
  
Last Friday I played a round of golf with some old friend/clients and some new friends. We played at the El Conquistador CC in northwest Tucson. The overseeding was coming in nicely and it was still cart paths only. The undulations in the fairways and mostly high high ( nice view ) tee boxes from the tips made for a great round of golf. El Conquistador is awesome.

10-17-03 The $65 million renovation and 80,000 square foot expansion of Tucson International Airport is moving along nicely and should be finished March 2005. The first phase will be finished in a couple of weeks.
 
 Almost everyone asks me which is the best area of Tucson to live? There is the standard answer " Tucson has alot of great areas to live". Anyway, my opinion is the north part of Tucson is the best place to live. Why? The views ( mountain, city etc..), the location is central to most parts of Tucson, and the north has an excellent school district.

10-9-03  It's the time of year in Tucson most golf courses overseed with the winter rye grass. If you are planning to play golf don't expect the courses to be in great shape.

The Homeowners Association in Ventana Country Club may be buying the Country Club and golf course. The word I received is the deal has been made and the HOA is in the due diligence period. Will this be a positive? Only time will tell.

I was asked the other day if we have termite problems in Tucson? My answer was simple; only if you do not have regular treatments done. 

10-1-03  The "Seller Property Disclosure Statement " is not a form that is required by law. However, most agents in Arizona use the form. Also, in Arizona a seller has a duty to disclose facts materially affecting the value of the property that are not readily observable and are not known to the buyer.
 
The new insurance addendums are in use. And, since not all insurance companies use the same information I think the new insurance addendum will get the process started.

9-20-03 Time out from real estate for a moment: I just had a good experience, donating some clothes to the Gospel Rescue Mission. Every year I usually make donations to the Goodwill of Arizona, books, toys, furniture, clothes etc.. The difference this time was I got to see some of the men who would benefit from my donation. The thanks and the smiles they had really gave me a good feeling.

9-17-03 The "Cataclysmic" rise in interest rates has not slowed KB or Lennar Homes. Both have reported strong order growth for the third quarter of  16-22%. I think some people don't realize that the rise in interest rates are coming from the lowest level in decades. Also, KB Homes reported today  quarterly earnings that rose 17% past expectations.

9-12-03 Rancho Sin Vacas, an exclusive gated community in the foothills, will soon have 75 elegant Villas ( townhomes ). The developer is waiting for the public report from the real estate department before they can start selling home.  The area will have the personality of a classic Mediterranean Village. Prices have not been announced, however, I have heard the prices will be in the $250,000 to $450,000 range.

Tucson has city ordinances against "light pollution," designed to aid visibility to the five world class observatories in the area. Also, Tucson is the number one area in the world for Astronomy.

9-7-03 Pima County property taxes will remain unchanged in the new budget approved by the Board of Supervisors, but increasing property values will cause property tax bills to increase. A good rule of thumb to estimate property taxes in Tucson is 1% of the price of the property. 
 
Tucson is the only city in the United States that hosts three Major League Baseball Spring Training Teams. The Arizona Diamondbacks, The Colorado Rockies, and The Chicago Whitesox.The Tucson Sidewinders ended there season on Labor Day.

If you are looking for the most active Country Club in Tucson take a look at El Conquistador CC. The Club has plenty of activities and the homes are extremely priced right in the low $100s per square foot.

8-28-03  Let's talk about interest rates, a current hot topic in real estate. I have seen rates in the 5.875% To 6.5% range this last week. One thing to remember, as I have mentioned in the past, is to look at all the costs of getting a mortgage. Also, the reputation of the lender means something. Why? Well, I can tell you from experience that if the loan package is not ready in time you can lose a deal or an interest rate lock.
 
Recently, I had the chance to play 49er's CC and Arizona National ( formerly the Raven at Sabino Springs ). At each course we received a little rain, which was a nice welcome to the heat. Also, the balls were sticking to the greens like darts.
 
The jury is still out concerning the insurance claims history report. I read the bill proposed by the Realtors and it sounds like you want to be sure to have the insurance company do the claims history report prior to issuing a policy. Phenomenal concept.

8-21-03  Interest rates are showing signs of weakness, dropping to around 6% and below. Do you think it's time to make a move? There are plenty of thought's on refinancing, pulling cash out or purchasing a larger home, etc..
 
The Tucson July statistics are out for residential home sales and it is another record breaking month. Sales are up and inventories are low. Also, the average single family residence sales price is approaching the $200,000 mark.

8-18-03 Tucson, founded before the American Revolution, will be celebrating its 228th birthday in a couple of days. 'Happy Birthday," Tucson. 
 
Recently, the Wall Street Journal and our local paper had articles on the soft market for Country Club memberships. Some clubs around the country are making deals now that they wouldn't have a few years ago. Tucson's membership market has not changed that much. In fact, I would say the increases in initiation fees has far out paced the one decrease.

8-14-03 A recent survey, of people over 60 years of age that have moved to another state, shows Arizona ranked Number 2 behind Florida between 1995-2000.
 
Southeast Tucson might get a 368 acre mall near I-10 and Camino Loma Alta. The mall would feature shops, fitness centers, offices and housing, to name a few. The area will have another full scale shopping center in 2004 with a Fry's Food and Drug Store.

8-12-03 Sabino Springs, located in northeast Tucson, is a manned gated community. The area features a 18 hole Arizona National ( formerly the Raven ) golf course. Although it is a public course, it is referred to as a high end daily fee course. Memberships are available. There are a few custom view lots available in the $300,000 to $550,000 range that sit on the highest location in Sabino Springs. Also, on the resale home market there are approximately 25 fantastic homes priced in the $150 per square foot area. Sabino Springs would be a great place to live.

8-1-03 The Stanford 9 test scores are listed in today's newspaper. The top two districts, again, are Tanque Verde and Catalina Foothills. That's not surprising, every year it's the same two at the top. If this is important to you I can send you listings in just these school districts. Also, I can send you copies of the scores.

7-24-03 I will be have my annual spreadsheet update online soon. Recently, I mention the price increases in Tucson's housing market in the last year. I can really see the increases as I update my spreadsheet.

7-20-03 The Gallery Golf Club, at Dove Mountain, has raised the initiation fee to $65,000. and the second 18 hole course should be completed by the end of the year. The fitness center is still in the planning stages. 

Interest rates on a 30 year fixed are in the 5.5 to 6% range. Sounds high, compared to a few weeks ago.

7-18-03 After reviewing the recent MLS home statistics I was awed by some of the figures. Let me share some of the stats with you. June 2003 had a 29% increase in total home sales volume compared to last June, Wow. June's average sale price for all residential types shows a increase of 15% to $195,688 in 2003 from $169,509 in 2002, unbelievable. The average sale price for SFRs was $210,875. Also, the average sale price in 1993 was $106,000, that's approximately a 84% increase in ten years.

7-15-03 Stone Canyon, one of the upscale communities in Tucson, has a few lots still available in phase one with 3 of the lots  priced at $225,000. The initiation at Stone Canyon is $75,000, and if you purchase a lot from the developer the dues are waived for the first year. Also, Stone Canyon has resale lots available and  from what I have heard some of the sellers are motivated. I mean really MOTIVATED!!!!

7-12-03  The La Paloma Country Club is located in the ideal north-central part of Tucson. With the signature Jack Nicklaus 27 hole course, the Westin La Paloma Resort next door and minutes from just about anything you desire, La Paloma CC should be on your short list. The housing choices start with condos around $170,000 all the way up to homes in the several million dollar range. Also, the city, golf course and mountain views are excellent from all around La Paloma. Remember, first sell yourself on Tucson, then the club, golf course, and area before you focus in on a home.

7-5-03 I had a great 4th of July celebration at Rancho Del Lago Golf Club. They had a carnival, music and beverages. Then, after dark on the driving range they put on a 1st class fire works show. I will have pictures on line soon in a new section called around Tucson. Hope you had a good 4th of July.

7-4-03 Hope you had a happy 4th of July. I received several responses regarding home exchanges and learned that most people have had good experiences. Oh, by the way these are vacation home exchanges, not 1031 tax deferred exchanges. Several emails indicated the people have different levels of cleanliness, and that if you are a slob you come out ahead. Another concern is when cars are involved, because of accidents, breakdowns or the car does not run well. It sounds like the same old story, do your homework, and hope for the best.

6-16-03 Sabino Estates, Tucson's newest golf community, located between Arizona National Golf Course and The Coronado National Forest. Models have not finished completion, however, floorplans are available with homes ranging from $500,000 to $700,000. Yes, there are lot premiums between $30,000 and $250,000. The location has superb views of the mountains, golf and city. Definitely worth seeing.

6-13-03 It's Friday the 13th, and I feel the same. Anyway, the Tucson housing market is still actively moving forward with close to 50% of all closed listings selling in the first 30 days on the market. Active and new listings have experienced a slight drop with sales increasing. With most sales close to the asking price. Interest rates on a 30 year are around 5% with a 15 year around 4.5%. When you add all of these things together you have a sellers market. However, Tucson's prices are less then most places around the country, and the quality of life here is second to none.

6-12-03 Late-Breaking News from the Arizona Department of Real Estate indicates that the insurance article in the newsletter that was sent to all the brokers has discrepancies. They will have a more comprehensive article on this topic in a future Bulletin.

Also, the Tucson Association of Realtors have not received the Insurance addendums.

6-9-03  Recently, I have noticed a few homes that sold five years ago have increased in value about 50%.
 
Heritage Highlands, one of Tucson's top retirement communities, has some excellent lots remaining in Phase 3 & 4 with price reductions on a few. Additionally, Phase 5 offers a variety of lots with mountain, golf, or valley views. Coming on line in the fall are phases 6 & 7.

6-6-03  The newest disclosure to hit the real estate scene is Insurance claims history report. A homeowner may be able to obtain a five year claim history report from their insurance agent. A buyer would have to request it from the seller. What does this mean? Well, another form is in the works, how about that. Also, there are private reporting companies to acquire the report.

5-28-03 If you have ever participated in a home exchange, please let me know how the experience went. There are websites for home exchanges, and as soon as I check them out I will give you my thoughts. Any information you have would be appreciated.
 
Recently, a development located in north Tucson "Villages at La Paloma, " had a one day, first-come-first-served real estate sale on the initial 15 of 71 lots. All of them sold. The rest will be on the market soon using the same concept. Prices are in the $271,000 to $351,000 range, with lot sizes from 6,500 to 9,000 square feet. Around 40 people lined up before dawn for the sale. 

5-23-03  Since Tuesday, interest rates have dropped to around 5.25% on a 30 year loan. Also, the hot topic for mortgages is a 10 year term. That really brings up the same old topic of paying off your mortgage. If you want to discuss your thoughts, and get mine, just call or email me. 
 
The Tucson market is still hot. If you find the house you really want I would not hesitate on making a offer.
 
I hope you have a good Memorial Day weekend.

5-20-03 A weak dollar lead to a hit to the stock market today, and left some wondering if interest rates will fall again? Rates for mortgages on a 30 year are at approximately 5.75% with 15 year at 5.25%. Recently, I spoke to a lender at Countrywide and he told me they have over 180 loans available.
 
Are you a dog owner moving to Arizona? You may want to know that while many states afford dog owners "one free bit" before the owner may be held for dog bite damages, Arizona law reflects a zero tolerance for dog bites.

5-8-03  March home statistics show total home sales volume increased 13% from March a year ago, while home sale units increased by 6%. March's average sale price for all residential types shows a increase of 7% to $171,683 in 2003. Average days on the market rose by 8% to 57 compared to March of last year. With the new economy right around the corner it is a good time to make a move.
 
Want a home on the golf course? Tucson has about 125 plus available. With prices from approximately $150,000 to several million dollars. So, take your pick and start enjoying Tucson's great weather and views.
 
Tucson's "Big Three" retirement communities are having strong sales and still keeping a decent inventory of homes for sale.

5-2-3 Having a knowledgeable broker on your side is very important. Like many professions a true professional makes it look easy. Knowing the contracts, and how to get everyone in the deal to agree is the real selling job in real estate. Initially, the most important issue is having a broker that knows the area backwards and forwards, and can help you locate the right area and home for you.

4-21-03 Did you know that lenders have new and specialized loan programs that require little to no documentation from the self employed or commissioned borrower? The loan approval is based mainly on past credit history and if the value of the property you are financing is basically worth what you are paying for the property. There are basically 3 types of " no income verification" home loans. The first is the stated income, second is the "no ratio", and third is the "no no loan" which means no documentation and no job required. These are low hassle loans with competitive rates. This is just one of the reasons the real estate market has been strong.

4-12-03 The Real Estate market is still solid, however the luxury home ( homes over $350,000 ) market is lethargic. Recently, I have seen several price reductions and the listing volume has increased. What does this mean? Well, if you are thinking of buying a home in the luxury price range now is the time to start looking. I will have my luxury home spreadsheet updated soon and online.

3-26-03  I recently updated the golf fee spreadsheet, and I try to as I hear changes. Many of the clubs have increased their fees in the last year indicating a strong market for golf communities.

 3-12-03  I heard this morning mortgage refi's are up 35%. Also, mortgage rates have dropped below 5.5% ( WOW ). I think people are figuring their home is a good investment. Rates and costs seem pretty competitive when you put a pencil to all the numbers, it works out to be pay me now or pay me later situation. If you have or know someone who has received a loan off the internet please let me know how the experience was. Thanks.

3-1-03  Yesterday, my wife and I had the pleasure of going to the Tucson Open. It was awesome, slightly overcast with a on and off sprinkle of rain. Since 95% of the year Tucson has clear blue skies it was a welcome change. Also, did you know that Tucson is home to the US Amateur Champ and the Senior US Open Champ.

2-26-03 If you are considering building a home, remember there are lenders that have one time close programs. Example, lock in your rate today even if your home takes 18 months to build. When your home is completed, your construction loan will roll into a permanent mortgage loan. Only one closing.
 
The Tucson open is this week.

2-21-03 There is a trend in Tucson towards resale homes. In Tucson, 22,340 new and resale homes sold, up from 21,429 in 2001. Individually, new home sales dipped slightly to 5,846 last year from 5,857. Resales were up 922 to 16,494 in 2002.
 
February is a busy month in Tucson. We have the Gem Show, which is huge. Also, The Rodeo and the Tucson Open Golf Tournament are big events. This is all because of our great winter weather. If you think I am trying to sell you on Tucson you are right. While I watch the TV and see people snowed in across the county and we are wearing short shelve shirts I feel I have to get the word out.

2-18-03 I had a hernia surgery a couple of weeks ago and I'm slowly getting back up to speed. I have had a few people email me recently asking if Arizona is a community property state? Yes, Arizona is a community property state. Additionally, we have community property with the right of survivorship that vests title in the surviving spouse upon death of one of the spouses. As always seek legal advice before deciding on how to take title.

2-1-03  Currently, the initiation fee for The Gallery Golf Club is $55,000.00, however, in June it will increase to $65,000. Also, the additional new 18 hole golf course will be ready. The Galley Golf Club is Located in Dove Mountain.

1-30-03 It is really awesome that several Tucson area lodges and restaurants have been given AAA's Four Diamond award for 2003. The lodges are Loews Ventana Canyon Resort, Omni Tucson National Golf Resort and Spa, The Westin La Paloma Resort & Spa, The Lodge at Ventana and The Hilton Tucson El Conquistador Golf & Tennis Resort.

1-27-03 Stone Canyon is offering 30-40% discounts on remaining phase 1 & 2 lots. If you are looking for a high end Country Club this could be the time to buy. If you want to know more about the area call me at 1-800-997-4701.

1-24-03 Arizona National (formerly The Raven ), and Forty Niner Country Club have a combined membership available with a $7,500 initiation fee and monthly dues of $350. Arizona National discontinued its annual pass and now offers a 10 play pass for $999. Forty Niner Country Club has several memberships programs as well as annual passes.

1-22-03 December average days on the market is 56, with 43.5% of all closed listings selling in the first 30 days on the market. The annual trend of breaking total sales volume  records continued with 2002's volume at $2,120,216,776. Also, home prices rose approximately 6-10% in 2002.

1-13-03 Men's Fitness magazine's February issue features its fifth annual rankings of the 50 largest U.S. cities. Tucson ranked 9th for the fittest cities, and Phoenix ranked 14th for the fattest cities. Way to go Phoenix.

1-8-02 Hilton Hotels just bought the Sheraton El Conquistador Hotel. The new name will be the Hilton Tucson El Conquistador Golf and Tennis Resort. It will be interesting to see if they make any improvements. The Country Club and golf courses are in excellent shape. The dues are now $10,000 initiation fee for a full membership.

1-2-03 Mortgage interest rates hit record lows this week. 30 year fixed rate dropped to 5.85%, compared to 5.93% a week earlier; 15 year fixed rate is around 5.24%. Yesterday's drop in Treasury prices dims the prospects of lower mortgage rates in the weeks ahead.

January-December 2000 | 2001-2002

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"Call me at 1-800-997-4701.

Let's talk real estate, golf and Tucson."

Yes, I want Reid Sossong to be my Real Estate broker in Tucson.