I recieved a big surprise Wednesday morning when I learned that a home I was reprsenting the seller on appraised for $25,000 less than the contract price. This was the same home we priced $15,000 less than the two best sold comps a couple months earlier. What left me dumbfounded was these same two comps didn't even make it to the appraisal and they were closest in square feet, floorplan , and subdivision quality. What gives?? My biggest challenge is that most appraisers are under the incorrect assumption that they CANNOT have a conversation with the Realtors involved. It's permitted as long as the subject property is not discussed in any way, shape, or form. So why the roadblocks when I try to reach the appraiser and ask a couple simple questions, like why were the two most comparable homes that sold recently left out of your report? Or, why is the contract price on your report off by $15,000?
My point here is that I've realized that it's my responsiblity to go a step further and help to acquaint the appraiser with the area by putting together an appraiser welcome kit at the subject property, by including items like the comps used to determine selling price and details about all comparable listings and sales in the area. Let's face it they simply don't know the story behind house around the corner that's still for sale and for less money. And we do. We're in a time and place where things must be done that in any other market wouldn't be necessary. Sure, I'm bummed my deal fell apart, but now I know what to do to combat against this in the future. I love the market now because of things like this. The learning curve is on a vertical plane and that's something we don't get to experience enough.
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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for over 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.
here's just one of the many reasons to live in Southern Arizona.
So, let's talk Real Estate and the numbers for a minute. Compared to last year, the facts and figures are pretty consistent. This report covers Vail, Rita Ranch, Civano, Mesquite Ranch, and Corona De Tucson, Arizona. Each of these large communities and/or subdivisions make up the 85747 and 85641 zip codes.
For the month of April 2009, 52 homes were sold for a total of $12,402,651. Of these sales 16 were bank owned or short sales.( Short sales are when the bank allows a borrower to sell for less than the mortgage balance) That means 31% of the homes sold had a bank involved to sell the home.
This same month last year, or April 2008, 51 homes were sold for $11,905,250. 10 of which banks were involved in the sale to sell.
As of May 4th, 2009 there are 416 homes available for sale, 93 of which are either bank owned or short sales.
From my perspective the tone has changed in the last 45 days. My office is busy, as our the other agents that conduct business there. It's a great sign and goes to show that with excellent selection and terrific pricing coupled with the lowest rates in 5 decades, something is bound to give.
One last stat I wanted to share for anyone selling their home or thinking of selling. Homes that had an accepted contract within the first 30 days of listing it, received 98.31% of asking price. However, homes that had an accepted contract from day 31 through day 60 of being on the market received 94.76% of asking price. Wow! What a difference timing and pricing make.
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With 38 courses to choose from it's always a challenge to decide where to spend the week playing. For most people visiting from the east where colder temps prevail, you may need a slight tune up before hitting the course. There's no better place in town to prepare your game for some desert golf than Fred Enke. Fred Enke offers one of the best practice areas throughout Tucson. Unless of course you're travelling to the high rent district of Ventana Canyon or The Gallery. Most courses have at least a driving range to get a clue how your hitting it that day with the long clubs, but few offer a wedge range, large chipping and pitching area with a large green and two putting greens to go along with it. The cool thing is, you have awesome views of the Catalina and the Rincon Mountain ranges, too.
As for the course, Fred Enke is one Tucson's Municipal Courses and it's the only one that offers true desert golf. Which simply means, get off the grass and you'll usually find your ball behind or inside some shrub, prickly pear cactus, or desert broom. Whatever it is, it's not a good place to be. In fact, most of locals carry a "desert club" because the desert floor is like hitting a shot off your driveway and that tends to leave a mark or three on your club. Anyhow, this course has several slight dogleg par fours that require good placement off the tee to set up short iron second shots. The par three's vary in distance, from 115 to 185 yards, each with greens that offer average size targets. As for the par fives, they offer the best green contours on the course. Which makes for some fun putts.
In the vicinity of this course you'll find a few other places of interest. Some parts of the golf course are in viewing distance of the Air Force Boneyard, where thousands of retired military aircraft cover the desert floor. In addition, Fantasy Island, mountain biking trail is within a 1/2 mile of the course, too. This is a single track riding course designed by mountain bikers for mountain bikers. Lastly, the Pima Air and Space Museum is within minutes as well.
Here's a shot of the wedge range, which has three greens that range in distance up to 115 yards. Also, a great place to catch some views of the desert wildlife, like bobcats, roadrunner, ground squirrels, and if you're really lucky a western diamondback rattlesnake.
Tucson Golf Tip: One thing to keep in mind as you play golf in here in the Sonoran Desert is that the city of Tucson is at an elevation of about 2500 feet above sea level. That means you're ball is going to travel farther than normal. How much you ask? About 5% more, or 5 more yards per 100 yards of distance. You can see as you get into your longer clubs, it will make for some club selection decisions.
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There's nothing quite like saying one thing a doing another. Yesterday I had the privlidge of taking a class at the Hogan School of Real Estate that dug deep into the roots of Tucson. Anyone, Realtor or not who has any interest in history will enjoy what Alex Kimmelman has to show and tell. So, back to this Restaurant in the photo, what does it have to do with Residential Real Estate History? Well, not only is it the nation's oldest restaurant but it all began in a home. If you ever visit Tucson, pop in for lunch or dinner at El Charro, one of the areas most popular places.
One of the biggest challenges facing home builders in the early days was the lack of natural resources. There are trees in Southern Arizona, but not of the hardwood variety, like what you would find in the eastern United States. It left the settlers with just the ground they walked on. And that turned out to be an excellent source of material to create adobe bricks, which in turn were used to build adobe homes.
In 1880, the railroad arrived and with it came lumber to build a home with something other than mud adobe. The railroad broke the poverty of this region for two reasons. First, materials and secondly more people made their way west on trains, which increased population. More people, more homes to build, more jobs, more money to spend. What a concept!
El Encanto Home, one of many Tucson homes and Neighborhoods on the National Registry of Historic Places
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I'm Kevin Wood of Realty Executives, and I'm the author of this post. You can reach me through email at kwood@gotucson.com , 520.260.3123, or visit my website at HomesInfoTucson.com. I have helped people just like you move in and out of Tucson for nearly 4 years. In a previous career, I represented Honda Automobile Corporation for 10 years. During that time, I placed among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. My office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde
The C-130 first rolled off production lines in 1956 and has been an Air Force Regular ever since. It's service is continuing to expand due to the flexibility of the aircraft. Mostly used for airlift missions of troops, vehicles, and gear, the C-130 must be versatile because each flight may require a different use of it's cargo area. Using it's aft loading ramp and door it can accomodate large armored vehicles, helicopters, and oversized cargo with the capability of air dropping loads up to 42,000 pounds.
Built by Lockheed Martin and equipped with 4 Allison or Rolls Royce Turbo Prop Engines the C-130J can cruise at a maximum speed of over 400 mph and still carry up to 164,000 pounds of cargo.
Although, my hometown of Tucson, AZ and Davis Monthan is not listed as a C-130 base, we see plenty in the air everyday.
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The information above was written by Kevin Wood of Realty Executives. Kevin can be reached via email at Kwood@gotucson.com or 520.260.3123. Kevin has helped people move in and out of Tucson for nearly 4 years. In his previous career he represented Honda Automobile Corporation for 10 years and was among the top 5% of all sales consultants nationwide for overall client satisfaction and volume. Kevin's office is conveniently located on Kolb Road 1/4 mile south of Tanque Verde.
Building Relationships by Helping People Move in and out of Tucson for over 4 years
It just took us one trip to the desert in January 1999 to know this was the place we wanted to call home. Well, that's not the only reason, my bride's side of our family is here, too. My wife, Stacie and I, have a young family also with two boys, Carsten and Burke.
Golf, my favorite sport, is fantastic here. There are 38 courses within a 45 minute drive of the city limits. If you'd like a local perspective on the best to play, get in touch, I'd enjoy helping you find what you're looking for. And when you come to town check out our source for the best deals on tee times throughout Tucson.
After dedicating over 10 years representing Honda Automobiles, I decided to start a business in a field that I'm passionate about and have experience in. During my years with Honda and still today, I invest in the product that I believe in. So,whether you're searching for your next home or something to add to your portfolio, my approach is simple. High knowledge plus Low Pressure equals lasting relationships and excellent real estate decisions.
When I'm not working, hanging out at home with my family and cooking are my favorite things to do. Unless of course some major championship sporting event is on. Other than that, just putting a golf ball around the house with my boys is pretty darn cool too. And last but not least, I serve as a youth leader in the high school ministry of our church. Encouraging others, especially young people is a fulfilling way to live each day.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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