Tucson Housing Report for September 2009
As of August 2009 active inventory was 6,095, a 25% decrease from August 2008. There were 957 closings in August 2009, a 6% increase from August 2008. Months of Inventory was 6.4, down from 9.0 in August 2008. Median price of sold homes was $162,500 for the month of August 2009, down 12% from August 2008. Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 52% from August 2008.
Get the full Tucson Housing Report
Best US Real Estate Markets for 2009 - Tucson in Top Ten!
Hottest Buyers Markets by Housing Predictor
The hottest buyers housing markets are places you may find comfort in the worst housing crash since at least the Great Depression. The top 10 buyers markets listed by Housing Predictor at mid-year are markets that aren't necessarily big arts and entertainment centers, mostly found in smaller communities.
Amarillo, Texas takes the first position as the nation's top buyers market in 2009 with the highest likelihood of housing inflation over the next few years. Austin, Texas and Tucson, Arizona are the largest metro areas to be named to the list possessing the highest probability of growing through the recessionary economy over the next few years. As a high-tech hub, Austin will have what it takes to not only sustain the downturn but see home values inflate.
All 10 markets hold the promise of prosperity in the near future. In the current economic environment there are few areas of the country that will see appreciation this year. The markets named here represent cities that are the most likely to experience housing inflation over the next few years, despite the downward economy and are the best places forecast to buy real estate to make a profit.
The financial crisis dealt a severe blow to the national economy that will take many years to overcome. Unlike any other downturn in real estate since the Great Depression, markets have seen home values decline at record levels. Times have changed as a result, and real estate inflation will take years to return in most areas. Investing for the long term, considered to be 10 years or longer is the best protection for those who choose to take the risk.
The following list of high potential real estate markets may not appreciate in the short term, but have the highest likelihood of long term appreciation making them ideal for purchasing investment property.
Listed from the highest forecast appreciation to the lowest:
| #1 | Amarillo, TX |
| #2 | Sioux Falls, SD |
| #3 | Biloxi, MS |
| #4 | Logan, UT |
| #5 | Bismarck, ND |
| #6 | Bozeman, MT |
| #7 | Baton Rouge, LA |
| #8 | Austin, TX |
| #9 | Casper, WY |
| #10 | Tucson, AZ |
This body of this article has been republished from Housing Predictor
Long Realty Launches New Social Media Platform to Help Agents Connect
Long Realty has launched a revolutionary new agent-to-agent social media networking platform called Long Connects that enables their agents to connect to other Long Realty professionals in a safe, online environment. This is yet another way Long Realty is taking the industry lead to help their real estate professionals work smarter and more efficiently to provide the highest level of service.
Long Realty is one of the first real estate companies in the country to implement this type of internal social media platform. It is an entirely new way for their agents to interact, network, and get business done. By implementing this new online agent community, Long Realty is setting the technological standard to help further extend the reach of their agents. Agents can network with each other and share information more efficiently to help match buyers and sellers. Long Realty agents can also use this new platform to learn from each other and from the company by keeping one another up to date with the latest industry developments, newest marketing and technology trends, and best business practices. "Long Realty is constantly investing in our over 1,200 sales associates by providing them the tools and systems to grow their business and save time," says Rosey Koberlein, CEO of the Long Companies. "Long Connects uses the latest Web 2.0 technology to empower our team of real estate professionals to provide the best service possible while increasing their knowledge and level of productivity." "Long Connects uses a powerful social media technology suite in a secure intranet environment to connect our sales associates, Core Services teams and employees," states Kevin Kaplan, Vice President of Marketing and Technology for Long Companies. "Online forums, media galleries, micro blogging and community groups are just a few of the features that connect our professionals with each other in an online community focused on real estate business dialogue. While much of the real estate industry is still trying to understand social media, Long has made the progressive leap to integrate social media into our everyday business practice." Long Connects will enable Long Realty agents to develop their professional relationships, hone their real estate skills and grow their businesses into a highly efficient and effective business model that could help change the future of real estate.
Tucson, Arizona September Condominium Statistics
As of October 1, 2009 there are 384 condominiums for sale in Tucson. During the month of September 45 condos sold with a median price of $107,000. 384 condos with a monthly absorption rate of 45 condos per month gives us 8.5 months of inventory (amount of time it would take to sell our current inventory if no new properties became available). 6 months worth of inventory is what most experts believe is a balance market.
There are currently 9 condos Active Capa (Can Accept Purchase Agreement), 41 Active Contigent and 23 pending. Not all of these properties will close in October or at all, but based on the number of units currently under contract it is realistic to expect October's closings to beat the 45 we saw in September.
The condo market is fueled by winter visitors so as the weather cools sales will pickup and more properties will become available, 60 new condo listings in September.
If you would like additional information on Southern Arizona's condo market contact James Servoss at jservoss@longrealty.com.
Leadership Lunch with Sean Elliot @ Elle Wine Country Restaurant (Tucson, Arizona)
Sean Elliot, considered by many (including Steve Kerr) as the greatest Arizona Wildcat basketball player of all time.
Sean Elliot played high school basketball at Cholla High School, played for Lute Olson at Arizona where he was a consensus all American his Junior and Senior year and went onto a successful career in the NBA.
This great opportunity is open to both United Way Young Leaders Society members and nonmembers.
$20 for members and $30 for nonmembers.
Thursday, October 8, 2009 @ 11:30 am
Space is limited: RSVP to Krissy King (520) 903-3934 or youngleaders@unitedwaytucson.org
The United Way Young Leaders Society is an organization of passionate young professionals who are actively seeking ways to Connect, Serve & Lead to make a positive and lasting impact throughout our community.
CONNECT
with other "up and coming" young professionals & experienced business leaders.
SERVE
our community where we are needed the most.
LEAD
by example, engaged in unique YLS leadership & service opportunities.
WHO IS IT FOR?
Members of the United Way Young Leaders are:
- Community-oriented individuals or couples. Most of our members are in their 20's, 30's, or 40's
- Committed, compassionate and generous individuals who are dedicated to making a positive impact throughout our community by taking visible leadership roles in our community projects and serving on local committees and boards.
- Valued supporters of the United Way, through the generous sharing of time, talents, and financial resources.
James Servoss is an Associate Broker with Long Realty, Southern Arizona's leading real estate company. He specializes in selling luxury condos, townhomes and vacation properties in Southern Arizona
I am an Associate Broker with Long Realty, Southern Arizona's leading real estate company. If I can be of any assistance please feel free to contact me at jservoss@longrealty.com, 520-603-1549 or visit my custom website, www.ServingTucson.com
HOME SELLER: With over 80% of buyers beginning their home search on the internet it's essential that you hire a real estate broker who's aware of the latest technology trends.
I feature all of my client's properties on homes.com (deluxe membership), realtor.com (deluxe membership), longrealty.com (#1 Arizona real estate website), youtube.com, facebook.com, zillow.com, tarmls.com, craigslist.com, tucson.com and over 100 other top real estate website.
HOME BUYER: If you're in the market to purchase a new property allow me to save you valuable time and energy by helping you finding the perfect home. I have comprehensive Tucson relocation packages available as well as the ability to set you up on an automatic real estate search.
DESIGNATIONS:
ABR, Accredited Buyer Representative
GRI, Graduate Realtor Institute
CHLMS, Certified Luxury Home Marketing Specialist
Member Million Dollar Guild
ASP, Accredited Staging Professional
Bachelor of Science in Business Administration, Miami University (Oxford, Ohio)
ORGANIZATIONS:
TAR, Tucson Association of Realtors
AAR, Arizona Assocation of Realtors
USPTA, United States Professional Tennis Association
AWARDS:
Long Realty Company Chairman's Club
Long Realty Executive's Club
Long Realty President's Club
I work primarily in North (Catalina Foothills), Northeast, East, & Central Tucson. However, I have sold homes all over Southern Arizona.
I specialize in selling luxury condos, townhomes and vacation properties.
When not representing clients with the buying and selling of real estate I enjoy spending time with my wife and golden retriever.
After moving to Tucson in 2002 from Toledo, Ohio I accepted a position at Loews Ventana Canyon Resort as a USPTA tennis professional. A few months later I earned my real estate license and accepted a job opportunity with Long Realty, Southern Arizona's leading real estate company. My passion for teaching tennis remains, so I continue to teach tennis 1 hour a week on Saturday mornings at the resort.
I also work with the following charities:
CLIENT TESTIMONIALS
Dear James,
Thank you for being such a fabulous real estate agent. I simply could not have accomplished our goals without you. I am so glad you were at that open house when our friends visiting Tucson became acquainted with you. They were doing a "pre look" for us, and were very impressed with you. Now, John and Eva have been in the building and development business their entire lives, and have worked with hundreds of realtors over the years, so I was impressed with the way they praised and recommended you. Before I even arrived in Tucson, you were at work for me, gathering info from both ends. When my daughter and I arrived you totally worked into our schedule, and were tireless at showing us new listings that my husband was constantly sending on to us, and updating your fabulous booklets that helped incredibly with remembering, and narrowing down. Being "strangers" you were so accommodating about driving us everywhere and giving us invaluable advice, hints, and directions. Knowing that my daughter knew nobody in the area, you so kindly invited us out to meet your wife and sister so she wouldn't be a complete stranger. We were so grateful! Then, since we couldn't make it back for the closing, you literally handled everything for us, other than sending the money. When the bank was late, you kept your cool and handled it again. Your negotiations with the other parties have totally benefited us in every way. You have helped me set up all my services, and have taken charge of hiring outside people in our absence. I feel that our real estate buying experience, because of you has been better than my family and I ever expected. I will recommend you, with the highest of praise, to anyone we know who would be in need of an agent, and, hopefully, we will be able to upgrade down the road and sign on with you again.
With heartfelt thanks,
Doug, Karen and Liz E.
James Servoss was diligent in scheduling open house events and professionaly marketed my home to qualified buyers. He used comprehensive real estate market information to get my home sold fast and for the highest price. James far exceed my expectations and easily outperformed my past realtors.
Thank you James for your well planned super realtor service, which sold my home.
Edward L.
If I could, I would buy a house every year to have the pleasure of working with James Servoss.
Nikki J.
Dear James:
Thank you again for all of your hard work in getting two of our properties in the Tucson area sold. In this trying real estate market, we fully believe that just 'any' Realtor would not have gotten our properties closed and that it took you, as a truly exceptional and knowledgeable Realtor, to understand the market and to be able to implement a solid marketing plan.
The communication and follow-through that you provided was extremely important to us, as out-of-state owners, and at no time during the transaction did we have any concerns in placing our listings in your capable hands. We appreciate all of the 'extra' things that you did such as meeting home inspectors, getting roofing quotes, obtaining a painter for touch-ups, etc., etc., etc. These are things that we would not have been able to do while out of state and we were impressed at how efficiently you expedited everything for us.
Both Sandy and I wish you continued success and again, thank you for everything!
Mel & Sandy W.
Dear James:
We are writing to let you know what a pleasure it was working with you during our recent home purchase in Tucson. You exceeded our expectations in every way during the search for our property and also after closing. As out-of-state purchasers, it was essential for us to find an agent whom we could trust to operate on our behalf when we were out of town. Your professional integrity and deep knowledge of the real estate market was second-to-none. Even after closing, your continued help in recommending high quality contractors to carry out renovations to the property was of tremendous value and your dedication to personally overseeing the work was more than we could have possibly expected. We strongly recommend you to any prospective clients and we look forward to working with you again for our future purchases in Tucson.
Darcy and Rick M.
Dear James,
Now that it's all done, Barb and I wanted to thank you once again for all that you did for us during, and after, our recent purchase of a home in Tucson. As you know, we are from the East coast, and knew very little about Tucson, other than we had visited several times, and knew we wanted to sooner or later buy a place out there to use as a second home and/or investment property.
We had, on past visits, spoken and communicated with several realtors in Tucson, but none of them seemed to have their fingers on our pulse, so we planned to eventually spend several months renting a place out there, and take our time finding the right place to buy.
However, from the time we first met you, when we spontaneously stopped at an "open house," even when we were "just looking," and not planning to buy, you served as a tireless source of information and guidance, with an incredible breadth of knowledge. You really know the Tucson area, and offered immensely helpful advice and assistance with a wide range ot topics from the best places to eat, to where to buy furniture, to who can we use as property managers, and beyond. You were always available, both by phone and email. You quickly responded to our needs and requests without being intrusive or having to be asked. You listened closely, and were always honest and straightforward in answering our questions, without equivocating or trying to give us answers you thought we were looking for. Since we did this from 3000 miles away, you even acted as our surrogate homeowner, and were there to receive deliveries of home furnishings necessary to set up home. Your broad knowledge of real estate and real estate transactions was helpful in facilitating a 1031 like-kind exchange, and you prepared everything for our purchase without us having to travel to Tucson for closing. Most importantly, we never felt you had any agenda other than to be of the utmost help, regardless of our agenda. Plus, after the sale, you have continued to help us innumerable ways that make preparing our new place possible. I could go on and on, but just wanted to list some of your qualities for which we were appreciative.
Simply put, James if it were not for you, we would not now have a place in Tucson, and would have likely waited for some time in the future to acquire such a property. In addition, as you know, since this particular purchase was a like-kind exchange, such a postponement could have cost us tens of thousands of dollars in lost tax consequences. Due largely to your diligence, tenacity, knowledge, understanding, and guidance we found and closed on a place that was the perfect match for our needs and desires. We are thrilled with our new home, look forward to spending more and more time in Tucson, and plan to count on your expertise in the future, as we hope to add more properties to our portfolio. Please feel free to supply our contact information to any prospective client, as we would gladly provide the strongest of recommendations to anyone seeking your services in finding the right home or investment property. Thanks again.
Bob and Barb K.
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