According to the Tucson MLS August Statistics our percentage of homes sold rose by over 11 percent over July.  This was an unexpected surprise.  I had anticipated a dip in sales due to the expiration of the First Time Home Buyer Tax Credit.  Our median sales price continues to hover at around $150,000.  Although new listings have decreased over 20 percent, our number of active listings is the highest to date, up 7.5% over the previous month.  Corresponding to this, we saw that the days on market in many areas of the Tucson Real Estate Market rose from low to high 90’s in some areas.  You can read the full report, including detailed charts and graphs here.

For the research tailored to your specific Tucson Real Estate needs, visit my website .

Denise McCreary

My listing plan of action contains 20 or so actions I take to sell a home in the Tucson Real Estate Market.  Among those items is a promise to “follow up with all the agents who have shown your home…for their feedback and response.” 

The following is a testimonial from a client in Tucson, Arizona, whose home I recently listed and sold which illustrates beautifully how a simple phone call to the showing real estate agent can lead to a sale.

 “…We contracted with Denise McCreary at the very end of January to be our real estate agent.  She first made a number of recommendations to us that would enhance our chances of finding a buyer.  We painted the entire unit, turned an otherwise unattractive patio area into a very nice garden complete with a tiled patio and a bubbler watering system and after she visited a number of other units for sale in the complex, she strongly suggested we adopt a sales price that was just slightly lower than any of the other units of equal size.

But what we think really enabled us to sell when no others were moving was attributed to her follow up techniques.  She kept a log in the townhouse for all who visited to sign.  When people were shown the unit by other agents she followed up with them and through this method she found a couple who “liked our unit and would consider buying it if we would consider converting a small upstairs bedroom into a loft”.  We agreed to have this done and the sale was completed.  Had she not followed up with this couple we would have never known they would buy our unit if we would make such a small adjustment.  The conversion we are talking about only cost about $1,500.  Well worth it when we were trying to sell this home in this market.”   B. Dover

Monthly inventory of new listings in the Tucson Real Estate Market decreased 2.95% from March, but overall increased 31.30% over April 2009.  Active listings decreased 2.99% over last month and 4.17 over April 2009.

Pending sales in Tucson increased slightly by 1.23% in April from March and an impressive 16.58% over last April.  See the full Tucson Multiple Listing Service statistic report, including detailed charts and graphs, here.

 The Federal homebuyer credit expired April, and it will be interesting to see what the end of May reveals.   According to the National Association of Realtors (NAR), existing home sales rose in April.  For more information visit the NAR website here.

Denise McCreary

Here are the highlights from the 3^rd Quarter Summary:

• Total unit sales up 39.48% over 1^st Qtr
• Average median sales price down 1.71% over 1^st Qtr
• Average sales price down 3.80% over 1^st Qtr
• Average active listings down 19.99$% over 1^st Qtr
• Average days on market slightly down with YTD average 80 days
• Pending contracts up 4.63% over last month
• Pending contracts increased 9/08 to 9/08 59.45%

Click here for the full report, including comprehensive charts and graphs.  If you are considering selling your home at this time, I’d suggest looking at the Active/Sold by Zip Code chart at the bottom of page 2.  This is telling, in that you can calculate months of inventory by dividing #Active by #Sold.  For example, in the 85712 zip code there were 158 active listings and only 19 sold in September.  19 into 158 equals a little over 8 months of inventory.  19 divided by 158 equals 12 (%) of the inventory sold in a month.  If you want your home to sell quickly, you will need to price, market and stage it so that it will beat the competition.  How can you position your home to be in the small percentage of homes sold versus the larger group of unsold properties?

Denise McCreary

The northwest continues to have the largest inventory with over 1500 active listings compared to the second largest central area with 738.  Average days on market are still at 80 with the north area’s highest at 102.  You can study the full report here.

I’m seeing increased inquiries from buyers and sellers alike.  I’ve received two calls in the past week from buyers wanting to find a good deal in Tucson Country Club.  Move up buyers especially need to realize the advantages in today’s real estate market.  Although you may not realize the returns of the past on the sale of your current residence, if you are moving up in price range, your net savings will be worth it!

The time to buy real estate in Tucson is definitely now.

From a list of 25, then pared down to 10, it was decided that Tucson was number one in terms of places one could live simply.  Here’s the list of the cities:

1. Tucson
2. Greenville, S.C
3. Montpelier, VT
4. Logan, Utah
5. Ames, Iowa
6. Northampton, Mass
7. Lexington/Fayette, KY.
8. Texas Hill Country
9. Oxford, Miss.
10. Walla Walla, Wash.

The demographers looked at affordability and low rates of unemployment, as well as factors including the ability to walk and bike.  Also included were the availability of “outdoor amenities”  such as farmer’s markets and hiking trails.  Visit the Metropolitan Tucson Convention and Visitors Bureau website to explore the many outdoor amenities we have to offer.

Another factor considered in the evaluation was the “stress index”.  This measure takes into account our low rates of suicide, crime, divorce and depression.

Great education played a role in the measure; a plus is the proximity to colleges and universities.  The fact that Tucson is home to University of Arizona helped boost our fair city to the top of the list.

We do enjoy an affordable lifestyle here in Tucson, as well as the many wonderful and diverse opportunities to enjoy our community. Residents rave about Tucson’s multicultural, melting pot feel.

Tucson’s Mayor Bob Walkup, self proclaimed “Mayor of Paradise” says he wasn’t surprised to hear his city was at the top of the list.  He believes we have the best quality of life in the country, adding that our temperate climate and low crime rate make it an ideal place to live.

It’s our abundance of sunshine that simply makes one feel good!

I invite you to check us out, investigate our affordable Tucson Real Estate and start enjoying Tucson Arizona.

Denise McCreary

Reporting on the existing home market, the National Association of Realtors reports that sales are up again 3.6% in June.  Lawrence Yun, NAR chief economist is hopeful about the gain.  This trend mirrors ours here in the Tucson Real Estate Market, with inventories dropping and prices declining less sharply.  Read my post here for the full market report.

What does this mean for Tucsonans?  Buyers, you are on top!  In the Luxury market, I’ve found many great deals to be found in the Foothills areas.  I conducted a search for Short Sales in the Foothills and found more than a dozen good listings between $500,000 and $700,000.  If  you are in a position to move up there has NEVER been a better time to purchase your dream home than right now. 

Denise McCreary

But in the midst of oppressive heat come  the monsoons–that glorious time of year when the clouds gather late in the day and the heavens bless us with spectacular rain storms and the fragrant smell of creosote bushes.  The creosote bush, or larrea tridentata, is native to the southern third of Arizona.  It’s a great example of a plant’s ability to adapt to tough conditions.  The creosote has small waxy resinous leaves which emit a wonderful pungeant aroma after a rain.  When I came to Tucson in the summer of 1986 I had never experienced the desert.  The smell of creosote in the rain became something that triggered that “ahhh” feeling in my brain.  It makes me happy;  it reminds me how much I love living in Tucson.  My friend Pam who spends the winters in Tucson sometimes sends creosote cuttings to friends with a note saying, “This is what the desert smells like.”

Come to Tucson– enjoy the summer monsoons and that fragrant freshness the rain brings!

Denise McCreary

 With the first 6 months of 2009 behind us we can now take a realistic view of the absorption of inventory which has moved in a positive direction with June pushing that number up to 22.9%. Even though we have a long way to go, these numbers show a positive sign.

 Activity by zip codes shows us that 85718 continues to have the highest number of active listings at 415 with 85750 taking second at 323.  There are many good deals to be had in these areas.

 All in all, we’re looking forward to the second half of 2009 with high hopes of the continued trend of recovery in Tucson’s Real Estate Market.

 First time home buyers have an unprecedented opportunity for three reasons:

• The $8,000 Federal Tax Credit for First Time Home Buyers (including those who have not owned a home for 3 years)
• Historically low interest rates
• An abundance of relatively low priced listings (the Tucson Real Estate Market currently has over 2,700 active listings priced under $200,000!)

There are opportunities for Luxury Home buyers as well in that there are over 1,000 active listings priced at $500,000 and above.

You can read the full report here.  Make the decision to participate in the American Dream and enjoy the benefits of home ownership.

Denise McCreary