May 2009 Tucson MLS Statistics

The Tucson real estate market seems to show continued improvement with inventories dropping once more to around 6,500—down 23% from the staggering 8,500 active listings of May 2008.  The median sale price increased 3.72% from April.  The average days on market is still around 85, a number we’d like to see come down.  Lastly, a quick look at a new statistical chart which compares the new listings to net pending sales is encouraging—since January, the former has been coming down while the latter is going up.  According to MLS president Kimberly Clifton, there are economists who say that 6 months  equals a trend.  For the entire MLS report, click here.

 Real estate is an attractive antidote to the venom of our present economic downturn.  Buyers should be encouraged to believe that if they are managing their present housing needs but want to make a move, they should not hesitate to do so.  Even if sellers are unable to realize the wonderful proceeds of yesteryear sales, there are compensating bargains in the market.  (No gain, maybe, but no pain either—and no real loss!)  Move up buyers have everything to gain in this market.  Although you may take a hit on your existing home, the savings you’ll gain in the purchase of a more expensive home is well worth it!  There are unbelievable bargains out there.

 And if you’re a first time homebuyer with good credit (which, by the way, is one who’s never owned a home OR someone who has not owned a home in the past 3 years) the best investment for you right now is real estate.  Take advantage of the $8,000 tax credit currently being offered by the Federal Government.  Watch this video for more information.  Pairing this opportunity with historically low interest rates makes right now an incredibly good (possibly the best!) time to invest in real estate.

I would be happy to help you or anyone you know to enjoy the benefits of home ownership.  I can help your friends buy and sell real estate in any state of the United States.  Call me today at 520-256-6731,  or visit my website.

Denise McCreary

Stay Cool In The Desert

My friends who live in more temperate areas of the country often ask me, “How can you stand the heat in the summer?”  I often respond, chuckling, with something like, “It’s really not THAT bad—it’s a dry heat.”  If you live here in Arizona you know what I mean.  (And Tucsonans are always at the ready to defend our precious Old Adobe.)   In the sun, in the middle of the day the heat is, well, searing.  But in the shade it’s quite bearable, even comfortable.  Here are a few things you can do to make the high and dry temperatures even more tolerable:  Create your own evaporative cooling by wearing a wet cloth around your neck…I know that sounds yucky, but it really works!  You can purchase one of these cooling devices at the drugstore.  It’s a neckerchief containing some kind of bead which, when wetted, retains moisture.  I keep mine in the fridge and take it with me when I know I’m going to be out in the heat (golfing, fishing, and gardening) for a long period of time.  Spray bottles filled with cool water offer another easy way to beat the heat outdoors.  You can buy these, again, at your local drugstore—I‘ve even seen some with little fans attached.  Lastly, to keep yourself hydrated, drink lots of water–before you are thirsty.

I love to play golf, and even though it’s hot in Tucson in the summer, the season has its advantages.  The snowbirds have gone home, so good tee times are available, as well as bargain green fees.  You can go to golfnow.com 24/7 to reserve and pay for tee times.  My husband, LJ, and I received a free round of golf at the new Ritz Carlton Dove Mountain course when we attended the Accenture Match Play in February.  We look forward to checking out the new links in one of Tucson’s newest luxury home communities.  You can review a couple of  luxury golf course properties, as well as other luxury homes on my website.

Tucson is a great place to enjoy year round–even when the temperature climbs to above 100 degrees.

Denise McCreary

Twenty Five Years…

My husband and I recently celebrated 25 years of (mostly!) wedded bliss.  Don’t misunderstand me; it hasn’t been a cakewalk, but our years of hard work have given us a great marriage and lifestyle together.  Our anniversary gave me an opportunity to reflect upon and appreciate the keys to what makes our wonderful relationship work so well.  These behaviors, if practiced regularly will have a positive effect on all of your relationships, personal or business.

1.  Take responsibility for yourself and your relationship(s).  Don’t play the blame game–ever. Even if you’re not the cause of something negative, acknowlege the fact that you are sorry for it’s impact on your relationship. 

2. Forgive each other.  A friend once pointed out to me the definition of FORGIVE: to give as before.  Forgive often and sincerely.

3. Don’t ever complain to another person about your spouse, friend, or partner.  If you’re around someone who starts complaining  about their spouse, try to change the subject or offer something positive. 

4. Encourage, encourage, encourage!  You will be profoundly blessed  by this.

5. Be happy!  Abraham Lincoln said,”People are just as happy as they make their minds up to be.”  Happiness is a choice; as trivial as this sounds, it starts with putting a smile on your face.  Try it!

6. Take time out for yourself.  Recharging your “batteries’ brings vitality to all of your relationships.

7. Be ongoingly grateful and acknowlege what you appreciate in each other.

8. Play together and enjoy each other.  LJ and I just returned from a two week road trip to celebrate our anniversary.  We had a blast just being together.

9. Be honest with each other.  Keeping secrets is like putting a road block between you and your spouse.  “Oh what a terrible web we weave, when first we practice to deceive.”  Sometimes telling the truth can be risky, but hiding the truth for a lifetime can be deadly.

10. Share your relationship and what’s good about it with others.  People want to be around those who are happy and prospering. 

So much has happened in these past 25 years.  We’ve had several recessions and housing downturns followed by periods of incredible prosperity.  Knowing this is what keeps me optimistic about the future of our Tucson Real Estate Market.  I’ve been blessed with so many wonderful clients in my real estate business. LJ and I have built a successful custom homebuilding company, McCreary Homes, in buisness since 1988.  We’ve raised 2 wonderful kids, Abby and Connor, and made a place in our home for LJ’s mom, Erma, now 91 years old.

Life continues to be good, simply because we say so.

Denise McCreary

Denise’s Home Buying Tip #2

The Mortgage process-What NOT to do:

Mortgage rates are at an all time low.  With interest rates in t he low to mid 4%, you’d think buyers would be flooding the market.  Although the real estate market in Tucson does seem to be leveling off, buyers who are in the process of buying a home need to avoid doing anything that could jeopordize the loan approval process.  Gary Keller, in his book, “Shift” makes the following recommendations:

1. Don’t change your employment status

2. Don’t make any major purchases (cars, furniture, home  theater, vacations, etc.)

3. Don’t increase your credit card debt or miss any payments.

4. Don’t change bank accounts or make undisclosed large deposits.

5.Don’t apply for a credit card, co-sign a loan or make a credit inquiry.

6. Don’t spend money you have set aside for closing –not any, not ever.

7. Don’t delay in providing all paperwork asked for by the mortgage company.

I realize many potential homebuyers are concerned about how the economy can affect their ability to buy a home.  Just remember that homeownership is a long term investment in your future, and one of the most important ones you can make. There is a “Buyer Strength” phenomenon occurring right now which is driven by historically low interest rates and a large inventory of affordably priced homes on the market.

These days, many families who aspire to become homeowners are taking a “wait-and-see” approach, trying to buy at the “bottom” of the market. The problem with trying to time the market is that you can’t time the market. Again, conditions in our Tucson Real Estate Market, Luxury or otherwise, today are very favorable for home buyers; housing affordability has improved, and mortgage rates are, again, near historic lows.

It’s time for Tucson Homebuyers to get off the fence and take advantage of the fantastic real estate opportunities available today.

Denise McCreary

Why I Love Tucson- The Beauty of Spring Part 2

Springtime in the desert is so spectacular!  Wildflowers burst forth with color, including several varieties of penstemon, lupine, and african daisy.  Acacia and palo verde trees are heavy with yellow flowers.  Last  week  I enjoyed a trail ride in Bear Canyon with a friend.  Skies were blue, the air was clear, and the streams were running.  We remarked over and over to each other how beautiful the scenery was and how grateful we are to live in such an awe-inspiring place.

If you are fortunate enough to live here in Tucson, take advantage of this wonderful time of year and spend time in the great outdoors.  Temperatures are typically in the 70’s; perfect weather for walking, hiking, biking, golfing, tennis, or just gazing at a mountain view.

If you aren’t one of the lucky desert dwellers, make plans to visit, or better yet, purhase a home and relocate!  Tucson’s real estate market is full of opportunities right now, and spring is the perfect time of year.

Denise McCreary

Tucson MLS Stats for February 09

Steady is the word to describe the current Tucson Real Estate Market, meaning we aren’t seeing any remarkable changes either positively or negatively.

February pending sales and closings exceeded January’s, with pendings up 8.4% and closings up 12%.  Comparing this year to 08, we see only moderate declines.  January pending sales were down 22% from 08, but February was down only 12% from last year.  Closed sales comparitively were very much the same, with 659 this year to 664 in February 08.

It appears as if we are leveling off .  And the median sales price is currently $178,000,  11% lower than last year, but within sight of the ‘05 median sales price of $186,500.

Listing inventories have come down as well;  last February we saw a staggering 9,168.  As of last month we now have 7,532.  Kimberly Clifton, MLS President asserts that with the “mere .75 drop in sales you can see that we’re gaining ground.” This improved inventory vs. sales ration is encouraging.  You can view the full statistical report here.

Denise McCreary

First Time Homebuyer Tax Credit Co-Starring Jester

Enjoy my very first video: Real Estate Buzz #1, co-starring my old guy pug friend, Jester.

Did I mention that this is a great time to buy real estate in Tucson?

My view from my back patio–Loving life in Tucson, Arizona!

Denise McCreary

Denise’s Home Selling Tip #2

What NOT to do…

I have been in contact with an acquaintance who had acquired the job of acting as trustee in the sale of a friend’s home.  The friend had passed on and was survived by 2 adult children, one of whom was living in the home.  The home is in a decent central foothills neighborhood.  There are luxury neighborhoods within the vicinity.  It was adapted for the handicapped and has a pool.  The home has a mortgage, and the surviving children can’t afford to make the payments, so selling it is a necessity.  My friend had contacted me and asked me provide some comps, so naturally I began to assume that I would be hired as the agent to sell the home.  I provided the information and followed up.

The trustee decided, because it was necessary to net the most from the sale of the home, to list it with a discount brokerage and price it nearly $30,000 above market.  The firm it’s listed with is merely a website and MLS listing service.  It has a contractor’s lockbox instead of an MLS lockbox for entry, requiring any agent to show it to call the trustee for the code.   

As if this scenario weren’t bad enough, recent statistic reveal there are currently 33 months of inventory in the home’s zip code area.

This home has been on the market (so far) for 90 days

Denise

Enjoy the Beauty of Spring in Tucson

It’s the first day of March in the Old Pueblo.  The weather has been unseasonably warm, causing Tucsonans to fear the beginning of what could be a long hot summer.  Even so, this is a fabulous time of year in terms of enjoying the great outdoors and having lots of fun things to do. 

Earlier in the week my husband and I attended the Accenture Match Play Championship at the new Ritz-Carlton Golf Club located in Dove Mountain, one of  Tucson’s premier luxury home  developments.  We saw Tiger Woods, Phil Mickelson and other pros playing practice rounds on the newly opened course.

This weekend also marked the 84th annual Tucson Rodeo.  We boast the largest “non-mechanized” parade which is held every year on the Thursday before Rodeo Weekend.  The rodeo is so important to Tucson that our schools are closed on Thursday and Friday of Rodeo Week.

Major League Baseball spring training began this week on February 25th and will continue through April 2nd.  Watch the Arizona Diamondbacks and the Colorado Rockies play against other big-name teams for a fraction of what regular seasonb games cost.

The 4th Avenue Street Fair will be held March 20-22.  It’s a great place to find original handmade items, delicious food and great live music.

These are just a few of the many fun things to see and do in Tucson this spring.  For more information and calendar events visit the Metropolitan Tucson Convention and Vistors Bureau.  We would love to host you, so come to Tucson–soon!

And did I mention that NOW is a great time to buy a home?

Denise

Realtors 4 Point Plan to Economic Stimulus

Tucson’s Vicki Cox Golder of Vicki L. Cox and Associates is the president-elect of the National Association of Realtors.  In an interview with Inside Tucson Business she weighs in on the plan NAR submitted to Congress:

• Making the $7,500 first-time home buyer tax credit permanent and extending it to all buyers.
• Making FHA, Fannie Mae and Freddie Mac Loan limits permanent.  They are currently at $729,000 but will fall down to $625,000 next year.
• Permanently bar banks from engageing in real estate brokerage and management.  There is currently a two-year moratorium on it but that expires next year also.
• Have the givernment spend $50 billion of the bailout package to buy down the interest rate to 4.5%.

This final item appears to have already been achieved; the Fed announced last week it would begin purchasing mortgage backed securities from banks in order to stabilize the housing market.

Golder also discussed the strengths in the Southern Arizona market where  we were recently one of the high points in the market, nationally.  Nationwide sales went down from August to September but Arizona was one of the markets that had the largest gains in the third quarter.

She also criticized Treasury Secretary Paulson for the way the bailout money is being handled.  The banks and financial institutions are getting money, but not lending it.  Golder says as Realtors we want to see this money hit Main Street, getting homes off the market and loans off the sheets.  Until that happens, Golder says we are going to continue to see a decline in home values.

Making the $729,000 loan limits permanent will definitely help the Tucson Luxury Home market, and the $7,500 tax credit along with 4.5% interest rates will encourage all buyers to get off the dime and buy Tucson Real Estate!

Denise McCreary