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!

Wednesday, April 26, 2017

The Boomers Hold On, Especially in Tucson

UofA Professor Arthur Nelson has delayed his prediction of the big baby boomer home sell off by a few years.  In 2013, Professor Nelson was predicting that boomers nationally would begin selling their homes in large numbers in 2020, but is now saying that likely won't occur until the mid to late 2020's.

Why the delay? Well, homeowners in general seem to be hanging onto their houses for longer periods than they use to. And for boomers in particular, many are still waiting for a price recovery for their homes from the levels of the recent recession, especially if they refinanced and took cash out of their homes when valuations were much higher. 

And from my personal observation, many Tucson boomers are just happy where they are. They have pretty much paid off their homes, they have made the improvements and upgrades they wanted,, they love their neighborhood amenities and are now just happy where they are. But I am starting to see a few who are ready to downsize from that 3000 sq ft home to something more manageable. Smaller homes and townhomes with little yard maintenance are especially popular with Tucson boomers who want the freedom to lock the door and head out on another travel adventure in retirement.

Monday, April 24, 2017

Millennials Like Local When It Comes to Real Estate Agents

Despite the proliferation of websites selling everything from socks to soup online, millennials seem to prefer dealing with a real, live, local human being when it comes to buying a house. A survey by the financial wellness website CentSai says that 75% of millennials (those from 18 to 34) prefer the face to face collaboration, hand-holding and personal touch of working with a local real estate agent.

While 95% of all home buyers begin their home searches online according to the National Association of Realtors, it is clear that millennials, as did their parents, recognize the value of an agent who knows the area and the local market.

Sunday, April 23, 2017

“So please, oh please, we beg, we pray / go throw your TV set away / and in its place, you can install / a lovely bookshelf on the wall.” - Roald Dahl

Thursday, April 20, 2017

Tucson Homes Market Continues to Perk Along

Potential Tucson home sellers should be quite pleased with the March Tucson MLS home sales statistics.

In a nutshell, the median sale price of a Tucson area home ($193,000) was at the highest level since July of 2008.  That is up 9% from March a year ago.

The number of homes sold in March was 1,619 which is up 9.39% from March 2016 and is the second highest number sold since June of 2006. The number of active listings at the end of March was 3,721 which is down 22% from March 2016 and down 1.17% from the previous month. With more homes selling and fewer on the market, could we be seeing additional pressure for higher prices?  Time will tell.

For the full March Tucson MLS report, check out Tucson Association of Realtors March 2017 MLS Statistics

Monday, April 17, 2017

Mortgage Rates Drop Again

I have stopped trying to predict the path of mortgage interest rates. After recent months (and years) of hearing "expert" predictions of soaring mortgage rates, 30-year fixed rates were down again last week, setting a new low for 2017.  That was the fourth consecutive week that 30 year rates have fallen.
30-year fixed rate mortgages averaged 4.08% and 15-year fixed rate mortgages averaged 3.34% at the end of last week. 
Buyers?  What the heck are you waiting for?  😀

Sunday, April 16, 2017

"The afternoon knows what the morning never suspected." - Robert Frost

Saturday, April 8, 2017

Fun Things in Tucson: Tucson Concert Band's Free Concert This Afternoon

Tucson Concert Band
I do love playing my trombone in the Tucson Concert Band. We are a Tucson institution having been around for 50 years.

So come out this afternoon for our last concert of the season. This is a fun one with some great band classics and a little Sousa thrown in of course. And for this concert we are joined by some outstanding high school players from around Tucson and Nogales.

And it is free!   So come out to Pima Community College West Campus at 2:00pm this afternoon to join the fun and hear some great music.

For more information, check out our website:   Tucson Concert Band Saturday Concert

And for those on Facebook, check us out there (and don't forget to "like" us.):

Tucson Concert Band is on Facebook
Lorelei Allison Conrad, Conductor

Thursday, April 6, 2017

Trending Now! Houses Get Bigger...Lots Get Smaller

Despite all the talk of downsizing and living with less, the trend again is for new homes to be larger. From 1990 to 2016, the median size of a new home increased from 1,938 sq ft to 2,300 sq ft.

But at the same time, the median lot size for these homes decreased from 8,250 sq ft to 6,970 sq ft.

The reason is that there is less land available to build and it is getting more expensive for builders to acquire. So bigger houses on smaller lots. A trend not likely to change. 

So reach out your window and shake hands with your neighbor reaching out their window.  😄

Wednesday, April 5, 2017

A Buyer Asks: How Long Has That House Been on the Market?

When I have a buyer getting interested in a particular Tucson house, one of the first questions they always ask me is "how long has this house been on the market?"

A very good question and one I can readily answer. In fact, I can give you the full history of a particular Tucson home listing from the date it was first listed. How long on the market? Price changes?  Was it ever under contract? I can see it all!

Some local Multiple Listing Services (MLS) around the country do allow the public to at least see the "days on market" (DOM) statistic, but not here in Tucson. But if you are interested in a particular house, just ask. I can get  that for you. And when helping a buyer prepare an offer on a house, that can be a very important bit of information. The house in the graphic I included? At 194 days on market, they may be ready to consider a lower offer.

Sunday, April 2, 2017

"When all else fails, throw a party." - Eugene Walter

Hop on your bike this Sunday morning

"Cyc˙lo˙via (/ˌsklɵˈv.ə/) n.
A Spanish word signifying the temporary closure of a network of streets to cars so that they become “open” to  people."

Whatever the origin, this is a fun day in Tucson to hop on your bike and explore some new neighborhoods.  The fun starts Sunday at 10am.   For more details, check out Cyclovia Tucson