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Below are the market statistics for Rancho del
Lago for September 2008 as provided by the
Tucson Association of Realtors:
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Active Listings: |
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84 |
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New Listings: |
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18 |
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Active Contingent: |
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10 |
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Active Capa: |
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1 |
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Pending: |
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4 |
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Sold: |
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8 |
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Expired: |
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3 |
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Withdrawn Released: |
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8 |
Rancho del
Lago continues to clear stagnant inventory and prices
are continuing to normalize, but at a much slower rate.
With
18 new listings and 84 active listings Rancho del Lago
continues to be an attractive draw to many homebuyers especially
those who work for nearby employers (Raytheon, IBM,
Keep in mind, a few of the "New
Listings" are price reductions that were enacted this
month. Several of the Active Contingent listings and Sold listings
are foreclosures and or short sales and prices appear to be stabilizing from
the activity of the past several months.
K. Hovnanian continues to sell new homes with very competitive
pricing which is also contributing to a slight price decline.
If you are interested in homes in Rancho del Lago
or the surrounding community feel free to contact me!
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I was chatting up one of my favorite mortgage guys today, while on my way to meet with a client. I asked him if he had heard anything about yet another interest rate drop from the Feds. The rumor mill is churning...
He had an interesting comment. "While the Feds are doing this to stimulate the economy, and help the American public to help themselves out of the pathway of a future recession...it is counter-productive for Realtors and for their clients who are fence-sitting and just waiting to see just how low they will go."
I'm thinking he meant that while Buyers are playing a game of "Mortgage Rate Bingo" waiting for that elusive winning combo...their dream home is being bought by someone else or taken off the market or sold on the steps of the courthouse.
Then there is the "domino effect" of selling your home to the next guy, that allows him to sell his home to the next guy, that allows him to sell...you get the picture. <Wait a minute here....I am getting an epiphany! The whole real estate collapse was started by one person who backed out on the sale of their home? hmmmmm 
>
I hear-tell that there was a time when interest rates were actually double digits and mostly in the high teens...and Realtors were still writing contracts. So you need to ask yourself...Is it really worth the wait?
2008 is turning out to be the year of many opportunities in the SoAz Real Estate market. Whether movin' in or movin' up...it's gonna be a great time!
For all of the latest Real Estate and Local info for Southern Arizona...check out my website.
See you out by the Saguaros at sunset.....
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For those of you in Rancho del Lago who have been waiting for a grocery store to be built, it looks like it is finally going to happen!
Construction is slated to begin next month on Mercado del Lago, a 16.5-acre retail center at the intersection of Colossal Cave Road and Mary Ann Cleveland Way.
Mercado del Lago will include a 55,000-square-foot Safeway as well as space for a variety of shops, restaurants and offices. The Safeway store is expected to open in August 2009.
Currently the closest shopping options for those in Rancho del Lago are located in Rita Ranch, and for those residents from Corona de Tucson the new Safeway will be a much welcomed relief.
In addition to Safeway, a McDonald's and Chase Bank are also expected to open in 2009. The other retail space will include restaurants -- perhaps an Italian eatery! -- and possibly a dentist's office as well as a hair salon and an ice cream shop.
When Mercado del Lago is completed there will be 16 to 20 tenants in addition to Safeway.
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