Vail, AZ

5:45 a.m. and three of us had a tee time at the Santa Rita Golf Course in Vail, AZ. We played nine before starting the workday. I thought I was doing pretty well until we reached the fifth tee.

We were greeted by a sight I'd never seen. Donte' Ormsby (who lives on the course) told us that these vultures roost in this huge tree every night. That's Donte' on the right. (He's the man who created my website mikeintucson.com)

The vultures were catching the day's first rays, stretching and talking amongst themselves, when Kevin Wood (left) stepped up to do the honors. Kevin's a REALTOR with Realty Execs in Tucson.

"Ready?" he said. He saw me with the camera pointed upwards, and expected that the birds would take flight when he rocketed the golf ball down the fairway. He was right. The birds didn't hang around.

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I'm Mike in Tucson, your preferred Tucson, AZ Mortgage lender.

Call me if I can help you with a purchase or refi mortgage;
(520) 349-9090

Photos copyright Mike in Tucson

I don't even own a horse. I do watch John Wayne movies on occasion. I have a couple a pairs a cowboy boots and some nice cowboy belt buckles. I watch the Arizona sunsets and thank God everyday for the 225 days of sunshine here in Benson, Arizona. I love to blog on Active Rain, even if nobody ever commented back on a blog it wouldn't matter, it's creative and fun. I think that Benson Horse Property is the best real estate value of the century and it makes senior living more enjoyable and relaxing. Just look at the statistics of people retiring to Arizona. I understand that there's only 11% of available land left for sale in Arizona. Put it all together and call me as soon as you fly into Tucson, Arizona. I am only 35 minutes from Tucson. I may sing you a cowboy song along the way and you may get to sample some great Mexican cuisine here in Benson, Arizona. Also, Steve Miller sings about Arizona as well as the Beatles so Arizona has to be a worthy place to move. I am the #1 ranked Benson Arizona Horse Property Blogger.

"So, what do you do for a living?"

"I'm a Realtor..."

"Oh, you're a Realtor! What do you think about this market?"

Never fails! Everyone wants to know what Realtors think about the current real estate market. I have enjoyed this conversation with clients, prospective clients, people from every walk of life, people from different parts of the country, and have especially enjoyed knocking around the subject with other Realtors.

My response has been the same each time though...

"This time is a great opportunity for first-time homebuyers and people who are prepared to take advantage of some great deals. All in all, just a great time...if you are ready!"

However, I have also been fortunate to converse with people who are on the support side of the real estate industry as well. That would be mortgage brokers, appraisers, underwriters, home inspectors, etc...

So, I got to ask them the same question. And I have heard so many interesting responses.

Just last month... "What exactly is a declining market?" Excellent question! Pima County has been classified as a declining market, as far as appraisals go. Declining? It is a shame that they do not give appraisers a check-box marked "adjusting" or "correcting". That seems to be a better description of what is going on in Pima County.

Real estate is one of the few markets that can be influenced greatly by consumer hysteria, however will almost always self-correct.

The Southern Arizona real estate market has consistently enjoyed a 4% - 6% annual appreciation. So when a jump of 17% to 22% occurs in a 6-month period of time...hmmm! Last quarter of 2004 into 2005 saw this kind of hysteria. Started small and then snow-balled. Then the slow down, then the correction. We are in the correction phase of that real estate cycle.

This would be the time to take a good, long, realistic look at your current housing goals. If you are renting, and have always wanted to own - this is YOUR time!

FHA-Federal Housing Administration has some of the most attractive programs that we have ever seen. They truly benefit first-time homebuyers and will go a long way towards assisting you and your Realtor in making your housing dreams come true! And the loan process is not nearly as difficult as they used to be either (dang do the Feds read these? oh well...).

Normally, I might see you out by the Saguaros at Sunset.

However, I might suggest we meet at your Lender's office. I'll have the chilled bottles of water, the map sheets, and showing times set up at some really fabulous homes! Let's get the party started!

PS~If you are really interested in real estate facts and data for Pima County, check out the Area Market Report! This will give you the true local view of our market, rather than the sensationalized hyped-up national view of random markets.

Ultimate Bargain Hunters List, Tucson and Vail Arizona: Foreclosure and Short Sale Property List

Buying a bank owned home provides an excellent opportunity. In years past, this was a scary prospect at best, but things have changed for the better. The banks are competing against each other to get these homes sold. Even as recent as 5 years ago the number of bank owned homes were in small numbers. The current market has increased quantity and forced the banks to move quickly when pricing this inventory for market. What you'll find in most cases are homes that are priced 5-10% below the rest of comparable homes in the same neighborhood.

Buying Foreclosures is a smart investment. It's important to be active in your search by being prepared to submit an offer when you find the right house. That means to have a signed Pre-Approval Letter from your mortgage consultant or a Loan Status Report. One of these documents must be submitted with the offer to purchase for your offer to be considered by the seller. *****Remember: Buying a home from a bank is no different than buying a home from any other seller.

Foreclosure List as of October 27th, 2008 for Rita Ranch and Vail Arizona

As you can see there are dozens of foreclosures available and this list is for just the Southeast area of Tucson which has a population of about 22,000. If you'd like the address for the above properties or your own customized list for any area in Tucson please request one at no cost or obligation.

In addition, foreclosures are just one way to find great buying opportunities on Real Estate. The lesser known are short sales. Short Sales occur when the Mortgage company or Bank allows a borrower to sell their home for less than the mortgage balance. Hence the term short sale. A short sale transaction generally requires more time to close the deal for various reasons. One of them being the fact that banks have literally thousands of borrowers requesting to sell for less than what they owe. This results in millions of dollars of potential losses for the bank if they choose to allow this course of action. So the banks are trying to service more people than they can handle right now and it simply take a longer.

This information is courtesy of Kevin Wood, Realtor, in Tucson Arizona. You can contact Kevin at 520.260.3123 and Kevin@HomesInfoTucson.com, or visit him at HomesInfoTucson.com.