November statistics are revealing a new market in Tucson. The market is slowly becoming a Seller’s Market. Notice the Total Sales Volume increased by 7.87% over October and a big increase of 11.22% over November 2010. Read the Full November Housing Report.
Knock on wood, Tucson real estate market inches closer to stabilization – Inside Tucson Business: Construction / Real Estate
Although prices of existing homes are down 14 percent from lastyear, the Tucson real estate market just might be starting to showtiny micro-…
Foreclosures plunge in first half of 2011
Foreclosure filings fell dramatically during the first half of the year as processing delays at the banks, which are strapped with excess inventory of repossessed homes, continued to skew the numbers — and falsely raise hopes that the housing market is staging a recovery. Full Story on CNN.com
June Housing Report
Tucson’s housing inventory continues to decrease. The number of homes currently for sale is back to 2005 levels. While we wouldn’t say that it’s a Seller’s market, things are trending in that direction. For example the Buyers we are working with are frustrated with the lack of selection and finding that the home they want has just been snapped up by someone else!Prices are holding steady and the most active price range is $100,000 – $140,000. This tells us that a lot of buyers are probably investors and they tend to lead the market. Click here for the full report
Pending Home Sales Turn Around in May
A few weeks ago I reported how low our housing inventory has become recently in Tucson. We’re at levels not seen in over 5 years. Pending Home Sales Turn Around in May.
Floodplain website instructional video
Tucson FEMA Floodplains are changing. If your property falls into a newly designated floodplain, you may qualify for reduced flood insurance if you sign up before June 16th. If you need help figuring out of you are in a flood zone, watch this linked video.
3 major loan servicers denied incentives
The Treasury Department is withholding financial incentives from three of the 10 major mortgage servicers participating in the Obama administration’s Making Home Affordable loan modification program, the department announced today in its latest report. Read the full story
Free Tucson Residential Energy Retrofits
The City of Tucson has funding to provide energy efficiency retrofits to approximately 100 homes. There is no charge to the homeowner. These upgrade may reduce your home’s energy use by 15-20%. Energy efficiency retrofit work may include things like substituting compact fluorescent light bulbs for incandescent light bulbs, installing low-flow faucets and shower heads, installing solar screens on windows and improving overall weatherization of the home. The organization will meet with each homeowner to identify the areas of greatest need in the home.
To be eligible for the program, you must meet certain criteria including income eligibility, age of home, residence inside the City limits and other criteria.
May Housing Report
Average Days on Market and Inventory are both down this month. If you are looking to sell your home, you will have the least competition I’ve seen in over 5 years and if priced correctly it won’t take as long as it has been taking most sellers in the last 2 years. Both of these statistics have been trending downward for a while now, which implies we could be approaching the end of the buyers market.
Click here for the full report May Housing Report.
Team Announcement
As you’ve probably noticed from the name change above, I’ve moved to Keller Williams. Why? That’s the real announcement! Keep reading