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!

Thursday, June 29, 2017

Tucson Sales Level With the Coming of Summer; Prices Up!

As expected, the Tucson homes market seems to be plateauing with summers approach. The number of active listings in May was down 4.8% from April, the number of new listings was down 5.6% and average days on market was up a bit to 46 from 44 in April.

But prices of those sold continues to rise, with the median sale price of a home sold in Tucson in May at $195,000. That is up from $190,000 in April and is the highest median sale price in Tucson since July of 2008.

Wednesday, June 28, 2017

Couples and Homebuying

One of the many skills you need in real estate (and that they don't teach in licensing class) is working with couples in buying a home. I have successfully worked with so many Tucson home buying couples over the years, that I am tempted to add "couples therapist" to my resume.

And a recent survey released by LendingHome supports the notion that couples often approach their new home wishes and dreams from different directions, but ultimately come together and are satisfied with their new homes.

So what does the survey show?
  • 14% of couples together five years or more disagreed frequently during the process
  • 30% of couples together four years or less disagreed frequently 
  • 49% disagreed on the level of debt to take on with the new home
  • 46% disagreed on the style of the new home

The good news? 60% of couples said their disagreements did not matter in the end, and 50% of couples said they felt more committed to each other after they were in their new home.

Tuesday, June 27, 2017

Tucson Snapshot: Boots at El Tiradito


People ask: Where do you get your business?

I am often asked, by both clients and newbies to the real estate business, where I find my clients. My clients are just curious but the new agents want to know because they are typically scrambling to build their business in a very competitive Tucson homes market.

The vast majority of my clients are either repeat clients or from referrals from past clients, friends or business acquaintances. I try to stay in touch with past clients and see many of them at social functions or just out and about in Tucson. And I often get calls from them asking for a recommendation of a plumber, painter or roofer.

In the early years, I met a number of buyers at open houses. They would stop to see a house I was holding open, were not working with another agent and we just hit it off. I am still getting repeat business and referrals from many of these.

I haven't kept exacts stats for this but how do things look nationally for real estate agents? The National Association of Realtors (NAR) just released a survey showing that experienced agents (and I humbly include myself in that category) get 38% of their business from repeat clients and 25% from referrals. 63% say they have received no new business from open houses in the past year (most buyers are looking online these days...not driving around) and agent websites bring in about 1% of agents' annual business.

I love the repeat business and referrals. It means I have been doing a good job for my clients. 

Monday, June 26, 2017

New on the Market: 1848 N Mountain View Ave

I just love this tree shaded 1959 burnt adobe home in mid-town Tucson. The front yard is framed by two magnificent mesquites and the back yard is shaded by trees and a covered patio. This well-maintained home has an open kitchen with a really cool vintage O'Keefe and Merritt gas stove, bar counter and glass front cabinets facing the dining area. The backyard is ready for your flowers and vegetables in the raised garden beds.  Great location convenient to UA, Sprouts and Trader Joe's!  For more details & photos, click 1848 N Mountain View

 
 
 

Sunday, June 18, 2017

"My father gave me the greatest gift anyone could give another person: he believed in me." - Jim Valvano

Monday, June 12, 2017

SOLD! 3443 E Lee Street

This classic 1947 midtown Tucson bungalow has so much heart, charm and potential.  Complete with Saltillo floors, lots of closet space, carport, and a large backyard with desert landscaping and mountain views. This light and bright two bedroom masonry home in the Mountain View neighborhood is close to UA, the Loft Cinema and Whole Foods. Asking price was $110,000.  SOLD FOR $115,000.  3443 E Lee Street Tucson AZ 85716

 

Sunday, June 11, 2017

"Spring being a tough act to follow, God created June." - Al Bernstein

Thursday, June 8, 2017

New on the Market! 2912 N East Plaza Drive

2912 N East Plaza Drive
New on the market and OPEN HOUSE this weekend, Sunday June 11 from 1pm to 4pm.

This delightful home is a rare find in the La Madera neighborhood...a home facing right onto La Madera park! With lots of upgrades, a large low care landscaping yard, water harvesting, cork floors, quartz counters, and more, this 2 bedroom/1 bath home one won't last long. $184,900.  Click the link for more details and lots more pictures: 2912 N East Plaza Drive

La Madera Park
 
Large brick patio with roof and Weber gas grill
Park View

Sunday, June 4, 2017

"My home...it is my retreat and resting place..." - Michel de Montaign

Friday, June 2, 2017

Tucson Homes Market: Fewer Houses and Faster Sales



Wow! The average Days on Market (DOM) before going under contract in the Tucson MLS has dropped to 44 days. One year ago the average Days on Market was 57 days. That is the fastest sales rate since April of 2006!

And the number of Tucson homes actively for sale was 3,773 in April, down 16% from one year ago (4,525 in April 2016) and way way down from ten years ago when there were a whopping 10,387 homes on the market in April 2007. 

So what are our takeaways from these dry stats? 

Tucson homes are selling faster and there continues to be a smaller number of homes available.  Many homes are selling in a matter of days, sometimes with multiple offers.  But I must add one BIG CAVEAT to that statement: Those homes selling fast are generally priced right to begin with and are in pretty good condition. Just slapping an over-priced house on the market in any old condition will not generate fast and multiple offers.

The other big takeaway is that buyers need to be prepared to make their offers and to be flexible when doing so.  More on that next week.