It's all here! News on the Tucson real estate market, tips and information for your Tucson real estate needs, and my occasional "likes" about Tucson and all the things we love about it. Read on!

Friday, May 29, 2015

Stat of the Week: Smoking Can Reduce Resale Value by 29%

The National Association of Realtors reports that a 2013 study of Canadian home sales found that smoking in the home can reduce the resale value by up to 29%!  The study was performed by Pfizer Canada, which manufactures a smoking cessation medication called Champix. And yes, I can vouch for the negative effects of smoking and the lingering odor on the sale of homes in Tucson.

Thursday, May 21, 2015

Stat of the Week: Foreclosed Home Sales Down in Tucson

Tucson real estate analyst Ginger Kneup, of Bright Future Real Estate Research, reports that in March the Tucson homes resale market was comprised of only 14.5% foreclosed homes. That was "the smallest share of monthly foreclosure sales since we began tracking them in 2008," said Kneup. 

Wednesday, May 20, 2015

Quote of the Week: Real Estate, Home, and Life

"God gave us the gift of life; it is up to us to give ourselves the gift of living well." - Voltaire

Saturday, May 16, 2015

SOLD! 4430 West Crestview Road in the Beautiful Tucson Mountain Foothills

4430 W Crestview Road
The wonderful Santa Fe home brought the Buyers to this location but it was the expansive mountain and valley views that really won them over. With 3.3 acres and quiet patios, it is an ideal place to while away the beautiful desert and monsoon evenings.

The main house features beamed ceilings and a fireplace in the great room, gorgeous kitchen with granite counters and maple cabinets, three bedrooms and two baths. And did I mention the really nice guesthouse with an actual bedroom? All this and a great location near scenic Gates Pass and with Downtown, UA, and shopping close by.

Sold for $330,000.


Tucson Mountain Views

Patio Desert Views

Kick back and relax
Maple cabinets and gorgeous granite

Kitchen breakfast area

Light and bright great room

Friday, May 15, 2015

Fun Things in (and close to) Tucson This Weekend

Break out the sweaters! We are having another spring-like weekend in Tucson. Is anyone else ready for the100s? I certainly am.

But it is great weekend weather to get outside. So here are some recommendations.

2nd Annual San Ysidro Festival

Saturday starting at 9am is the San Ysidro Festival, showcasing the Kino Heritage Fruit Tree Orchard, the Mission Orchard Garden and the Timeline Gardens they have completed at the Mission Garden.  The Community Food Bank and the Menlo Park Neighborhood Association  are sponsors of this year’s San Ysidro Festival.
Here’s the program for the day’s events

Willcox Wine Festival

Seventeen wineries and seventy different wines await you at the Willcox Wine Country Festival this weekend. The fun happens in downtown Willcox along Railroad Avenue and Railroad Park.  There will be music and food too of course. For details, check out Willcox Wines

Dave Fitzsimmons Old Pueblo Radio Show at the Rialto

Back by popular demand, they claim, is an afternoon of merriment and music hosted by  Dave Fitzsimmons, the Arroyo CafĂ© Players, the Grandsons of the Pioneers and an assortment of other Tucson locals. Now this should be fun! Check out the link. Old Pueblo Radio Show  Sunday at 2pm at the Rialto Theatre on Congress Street. A share of the proceeds benefits Arizona Public Media and Tu Nidito.

Wednesday, May 13, 2015

Quote of the Week: Real Estate, Home, and Life

Don't walk behind me; I may not lead. Don't walk in front of me; I may not follow. Just walk beside me and be my friend.  - Albert Camus

Friday, May 8, 2015

Stat of the Week: National Home Ownership Rate at Lowest Level in 20 Years

Lawrence Yun, Chief Economist of the National Association of Realtors, reports that the home ownership rate is now at 64%, the lowest level in more than 20 years. One major reason is the economic realities of the Millennials...those in their 20s and early 30s, who are living with their parents at sky-high levels. Once the job prospects improve for that age group, economists expect first-time buyers to return to the market, perhaps as early as this year.

Fun Things in Tucson: Rogue's Shakespeare, 2nd Saturday Night, and Southern Arizona Symphony

We are moving into mid-May and the Tucson temperatures are still in the glorious 70's and 80's.  A great weekend to get out for a hike or downtown for 2nd Saturday. But there is some great indoor entertainment as well as our theatre and classical music season winds down.

The Rogue Theatre Presents The Merchant of Venice

The second weekend of three for Shakespeare's The Merchant of Venice.  This is such a well-done and thought-provoking performance. I saw it last weekend and plan to see it again. For more information and tickets, check out The Rogue Theatre Presents The Merchant of Venice

Southern Arizona Symphony with Elgar's Enigma Variations and Guest Violin Soloist Chloe Trevor

Maestro Linus Lerner conducts award-winning guest violin soloist Chloe Trevor in Bruch's Violin Concerto No. 1 this weekend, along with one of my personal favorites, the beautiful Enigma Variations by Edward Elgar. There are two performances, the first on Saturday evening at the Desert View Performing Arts Center in Saddlebrooke, and closer to home on Sunday at 3pm at St. Andrew's Presbyterian Church in Oro Valley.  For more information and tickets, check out Southern Arizona Symphony Orchestra

Downtown Tucson's 2nd Saturday Night

It should be a great evening to stroll downtown Tucson Saturday night for the monthly 2nd Saturday Night event. Sample great food from downtown restaurants and food trucks, go shopping and and enjoy fun (and free!) music and even belly dancing.  For more information, check out Downtown Tucson 2nd Saturday Nights

Thursday, May 7, 2015

A Buyer Asks: "I see 'range pricing' on a listing. What is that"

Range pricing is a marketing concept that crept over to Tucson from California a few years ago. It is designed to give the listing a greater spread of visibility in the MLS when searches are performed based on the price of homes.

The MLS listing will indicate a "range" of pricing, say from $200, 000 to $220,000. In such a case, the Tucson MLS requires us to put in the listing remarks that the “Seller will accept or counter offers between $200,000 and $220,000”

Does that mean that the Seller will automatically accept an offer in that range on their Tucson home? Not necessarily. The Seller will also be considering other aspects of the Buyer's offer, including financing, closing date and other variables. 

In practice, here is what I have found about "range pricing" and how people respond to it. Sellers tend to look at their range and remain focused on getting an offer at the upper end of the range. Buyers, on the other hand, look at the range and the "Seller will accept or counter..." language, and of course want to make an offer at the bottom of the range.

And in practice the Buyer can always make their initial offer below the bottom of the range price, and a smart Seller will still counter that offer. I have seen many sales where the eventual selling price was below the range indicated in the Tucson MLS listing.

Wednesday, May 6, 2015

Quote of the Week: Real Estate, Home, and Life

“How far that little candle throws his beams! So shines a good deed in a weary world.” -  William Shakespeare, The Merchant of Venice

Tucson's own Rogue Theatre is putting on a wonderful performance of The Merchant of Venice through May 17.  Check it out at The Rogue Theatre's The Merchant of Venice

Tuesday, May 5, 2015

UA Area Duplex Just Two Blocks from the UA Rec Center: 1408 E 8th Street $230,000

Great University area location and a terrific property with lots of curb appeal. Set in the Rincon Heights Historic District, this well-located rental duplex features solid masonry construction and off street parking. Each unit features two bedrooms, 1 bath, small patio, and off-street parking. All appliances stay including a washer/dryer in each unit. Why pay rent for your student when you can own and rent out the second unit?  Offered at $230,000

Monday, May 4, 2015

The Room Millennials Say Is Essential

My own laundry closet with a bit of paint and artwork
Most of my Tucson home buyers head straight to the kitchen or backyard when they are viewing a potential new home. But if a recent article in Realtor Magazine is right, the Millennials (those born after 1980) seem to be heading to the laundry room first thing. A recent survey says that 55% of Millennials would not buy a home without a separate laundry room. That may be a challenge for them in Tucson given the number of homes here with  laundry closets or even back porch laundries.  But with the right design, shelving and even some color and artwork, even a laundry closet can add appeal to a home. So whatever your laundry situation, be ready to make it look its best when putting your home on the market.

The Room Millennials Say Is Essential – and Why You Should Stage It

Saturday, May 2, 2015

Fun Things in Tucson Today: Rogue and Shakespeare, Antigone Bookstore, and Rillito Raceway's Kentucky Derby party

Another beautiful Tucson weekend and there is quite an assortment of fun to be had.

Will Shylock Get His Pound of Flesh?
The Rogue Theatre presents Shakespeare's The Merchant of Venice beginning this weekend and running through May 17th. Always a controversial play to present, the Rogue tackles the challenge head-on in this marvelous production. Tickets are going fast, I am told, so for more information and tickets check out The Rogue Theatre's The Merchant of Venice

Celebrate National Independent Bookstore Day at Tucson's Antigone Books
Stroll down funky 4th Avenue to Antigone Bookstore for an independence day celebration of local bookstores. My friend Kate Randall and co-owner Trudy Mills have a full day of festivities planned starting at 10:00am today.  Check out their wonderful collection of books, card, stationary and uniquely Tucson items anytime. For more information check their link  Antigone Bookstore Celebrates National Independent Bookstore Day

Kentucky Derby Fun at Rillito Park

And as a good Kentuckian, I cannot ignore today's national holiday, The Kentucky Derby. Tucson celebrates at Rillito Raceway located along the Rillito River at 4502 North 1st Ave. There will be FREE admission and parking into the event. According to the folks at Rillito, they will have happy hour, southern buffet, live music, hat contests, and of course a broadcast of the Derby race itself! First post time is at 7:30am (hey, there is a 3 hour time difference with Kentucky.). Get here early and spend the day relaxing while sipping on some Mint Juleps served in souvenir cups.      Rillito Raceway Kentucky Derby Party