As we near the end of 2008 we can see that November has followed seasonal trends and expect that December will do the same. The latest and greatest news comes from the mortgage markets where FHA loan rates dropped to 4.75% for a 30 year fixed mortgage and conventional loans are 5.0%. Another sign that owning a home is not only a smart move but an affordable one at that. In addition, with rates this low refinancing your existing home could be an option as well.
Here's a few important numbers to check out that show how the past month compared to the same month last year.
Home sales volume for November 2008 was $137,104,343 compared to $216,102,902 a year ago.
Average Sales price for November 2008 was $215,913 compared to $266,794 for 2007.
Pending contracts for November 2008 are 677 compared to 910 for 2007.
Active Listings for November 2008 are 7,996 compared to 9,234 for 2007.
Home Sales Units for November 2008 were 635 compared to 810 for 2007.
Median Home sales price for November 2008 $178,000 compared to $212,000 for 2007.
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The Tucson Arizona Market Report above was provided by Kevin Wood of Realty Executives. Kevin can be reached via email at Kwood@gotucson.com, HomesInfoTucson.com, or 520.260.3123. Kevin has helped people move in and out of Tucson for nearly 4 years. Kevin's office is conveniently located on Kolb Road just south of Tanque Verde.
Mike Jones seen here holding the famous PP Chicken!
Last Wednesday at the Taco Bron on Tanque Verde, the BNI Thomas Morgan Professional Partners Chapter inducted their newest member. Accepting this honored tradition in style, Mike had it making sounds we've never heard before while reciting the Code of Ethics.
Mike is a tremendous networker. He's always looking for ways to help people whether on the Rain or out on the streets. Mike brings an ability to make everyone feel at ease and important. In addition, his past business experience will be an excellent resource along with his encouraging attitude. He will be a huge asset to an already strong group of business professionals. Welcome Jonesy!
If you live in or near Tucson, Arizona and have a need for safety, security. and some creative touches to your home or business there's a great resource in the Old Pueblo. Check out a few examples of his past creations below and give him a call or send an email to get an opinion and a few ideas to warm up your home. He can be reached at 520.440.9077 or dcutman1@cox.net
Protect and enhance any opening.
Get some ideas or give a few to Don to see what he can create just for you.
Horseshoe Plant stand
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.
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.
Rita Ranch is one of Tucson, Arizona's most popular places to call home. It boasts some of the most beautiful Rincon Mountain views anywhere in Tucson.
The majority of Rita Ranch lies West of Houghton Road, just south of Valencia. If you follow Rita Road southwest for about 2 miles from Houghton that will cover the width of the entire community.
Affordability, selection, and Vail Schools are what you'll have by living here. Pricing begins in the $130's with a ceiling of around $325,000. Any size from 1000 square feet to in excess of 3000 is available with a wide variety of floor plans from over a half dozen buiders. Nearly all the homes have at least 3 bedrooms, 2 bathrooms, and a 2 car garage.
The first home was completed in 1988, although the largest amount of construction occurred between 1995 and 2000. This home built in Silver Pass, one of the communities largest subdivisions is within just a 5 minute drive of the interstate and only 10 minutes to Davis Monthan Air Force Base, just another appealing reason Rita Ranch has over 4400 homes.
Despite it's name there's more than just single story home's in Rita. This beauty has over 2700 square feet of living space, 4 bedrooms and 3 bathrooms. The majority of subdivisions have mature vegetation, such as mesquite trees, palo verde trees, and an occasional saguaro cactus. Several landscaping companies promote indigenous solutions for your yard, meaning only plants, shrubs, and tree's common to the Sonoran desert are used. This method minimizes water use and offers a natural look that will last for many years to come.
Vail, Arizona a small city just east of Rita Ranch has 4 elementary schools, 3 middle schools, and 3 high schools. Planning and strategizing for one the region's fastest growing areas has played a significant role in their success, not to mention unparallelled community support. Desert Willow Elementary, pictured here, located on the Esmond Loop is just minutes from the skate park, fire station, and Purple Heart Park.
The Skate Park is in the center of the community. It's lighted and within walking distance from dozens of subdivisions. Handrails, transition ramps, and plenty of steel coping outline the perimeter of the skating area. Many skilled skateboarders frequent this hotspot due to the variety this park offers. Stop by and check it out, lights out at 9pm.
Purple Heart Park is home to three baseball diamonds, two playgrounds, skate park, walking trail, community swimming pool, and plenty of wide open space.
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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