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!

Monday, August 24, 2015

On the Market! Shade and Lakes at 2340 N Creek Vista Drive

2340 N Creek Vista Drive
One of Tucson's hidden gems is the east side's The Lakes at Castle Rock. The Lakes is a gated community off Tanque Verde road that features...lakes! And walking trails, community pools, tennis courts, fitness center and recreation center.

And the house? This is a beautiful three bedroom/two bath home with mountain views.  Mature trees in the backyard and a covered patio will draw you outside for shady relaxation. Inside you will find a fireplace in the great room, tile floors throughout, new Corian counters in the kitchen, plantation shutters, new tankless hot water system and newer energy efficient A/C and gas furnace.

Offered at $228,500.  Come and see it!

For more details and photos, click the link:   2340 N Creek Vista Drive

Living Room with Fireplace
Shady Back Yard
New Corian Counters and Cozy Breakfast Nook
Master Bath with Cool Glass Block!

Lakeside Neighborhood Pool (one of two!)

Friday, August 21, 2015

Are First-time Buyers Slacking Off?

The percentage of first-time home buyers has fallen to its lowest share since January, according to the National Association of REALTORS®' latest existing-home sales report. NAR's report says that rising home prices and persistent low inventories of homes for-sale are likely to blame.

The share of first-time home buyers fell for the second consecutive month in July, reaching 28 percent, and down from 30 percent in June, NAR reports. A year ago, first-time home buyers represented 29 percent of all buyers.

We don't have Tucson market stats specific to first time buyers, but overall sales in July remained steady and the inventory of homes was down just short of 4% from June.

Tuesday, August 18, 2015

Selling and Buying Tenant-occupied Homes in Tucson

It is quite common in the Tucson homes market for tenant-occupied homes to go on sale. With so many students, military personnel and snowbirds, we have a lot of renters in Pima County.

When it comes to selling a house, the presence of tenants creates several issues affecting both the sellers and the buyers.

Many tenants are quite cooperative in the selling process, particularly if the landlord/tenant relationship has been a good one. If there has been a hostile relationship, then the seller may want to wait until the tenant has moved from the property. Sellers want to have a good relationship with their tenants for two reasons.  First, the tenant needs to be cooperative in allowing access to the property and in keeping it clean and in good showing condition. Arizona law is pretty specific regarding tenant rights and advance notice of access to the property by the landlord.

Tenants also may be quite happy to share their knowledge of the property and any maintenance issues. I love it when I show a property to my prospective buyers and the tenant is present and willing spill the beans about the property.

Buyers too need to be aware of issues related to the presence of tenants in a property they want to buy. A major misconception is that the buyer can give the tenant notice to leave as soon as the property changes hands. But under Arizona law, the lease (and tenant) goes with the property so the buyer is acquiring the tenant as well as the property at closing. Even if the tenant is on a month to month basis, the new owner must follow Arizona law in giving tenants notice.

The bottom line is to have a talk with your real estate agent regarding tenant issues.  This applies to both sellers and buyers who may be considering a tenant-occupied property. Give me a call!