Protect Our Homes! Vote YES on Prop 100

The up coming election has us all focused on the Presidential election but there is something else that you should give your attention to as a homeowner.

This coming November you are going to be asked to vote on proposition 100. This proposition 100 would amend the Arizona Constitution to prohibit the state or any county, city, town or other political subdivision of the state from directly or indirectly imposing any new tax, fee or other assessments on the sale, purchase, transfer or other conveyance of any interest in real property (such as homes and other real estate). This proposed measure would not affect any tax, fee or other assessment in existence prior to this year.

This real estate sales or transfer tax is unfair to Arizonans since home and property owners already pay annual property taxes. An additional tax levied at the time people buy, sell or even transfer ownership of their home would be double taxation.

Voting Yes on Prop 100 will provide protection from Real Estate Transfer Taxes and prevent:

* Double Taxation-Governments already collect taxes on your property based on the property's value. This new tax would unfairly impose a second tax to impact our home or property value.

* Loss Of Equity- Since the tax is assessed against the total value including the amount you owe on your mortgage(s), the overall equity earned by the seller is decreased.

* Damage to the Real Estate Market- In an already burdened housing market where people are struggling to sell their homes, the overall higher costs will only make it more difficult to initiate a successful sale, not to mention making it less attractive for commercial real estate to recruit business to the area.

* Punishment of Homeowners- People who move from one house to another should not be punished while others choose not to move; in fact, this is considered discriminatory and harms access to the "American Dream" of home ownership.

* A Negative Impact on Lower-Income Arizonans- A real estate transfer tax would impose a higher tax burden on lower income households that typically spend a larger percentage of their income on their home.

This is an example of voting "Yes" to mean "No". Voting YES on Proposition 100 will protect your home and you from double taxation!

www.protectourhomes.com

FYI-Just a few community leaders (that you may know and respect) that promote voting YES for Proposition 100:
Eddie Basha
Rose Moford, Former Governor of Arizona
Tom Chilton, President of Arizona Cattle Growers
John Nelson, State Representative
Jim Waring, State Senator
Ken Cheuvront, State Senator
Barbara Leff, State Senator
Donald Owens, Former Adjutant General for Arizona National Guard
John Munger, Munger Chadwick, P.L.C.
Brett Jones, Arizona Contractors Association
Glenn Hamer, Arizona Chamber of Commerce and Industry
Kevin Rogers, Arizona Farm Bureau
Chad Kirkpatrick, Americans for Prosperity
Barney Brenner
Craig Sanford, Protect Our Homes

If you are thinking of buying or selling real estate in the Tucson area, call Julie Nellis with Long Realty, for assistance. 520-918-3843 or www.tucsonhouses4you.com

August 2008 Tucson Housing Market Report

THE TUCSON REAL ESTATE MARKET OFFERS THE SMALLEST
INVENTORY OF RESIDENTIAL PROPERTIES SINCE MARCH OF 2006..
according to the Tucson Association of Realtors Multiple Listing Service
Monthly Statistical Digest for August 2008. One of the first signs that a real
estate market is improving is a decline in the listing supply. It appears the
decline in the August '08 listing suppply for Tucson is being caused by more
acceptable contracts opening escrow, fewer homes coming new to the
inventory, as well as many Sellers removing their homes from the market
when the reality of the pricing in the current market does not match their
expectations. The trend to a declining inventory has been consistent each
month this year.

The decline in the Median Sales Price could be being caused by a high concentration of closings occuring after or under the threat of foreclosure. This is very neighborhood cerntric, thus having a strong Realtor who is skilled in mining the MLS data for a particular neighborhood, should be the requirement of every buyer and seller. Many believe the decline in Median Sales Price is a "good thing", as it allows our marketplace to become more affordable, thus incresing the buyer opportunities, and we all know that "more Buyers are the answer for improving our Tucson real estate market".

Home Sales Volume:
Declined 27.97% from $299,005,952 in August 2007 to $215,369,442 in August 2008.

Home Sales Units:
Decreased 17.31% from 1,092 in August 2007 to 903 in August 2008.

Average Sales Price (all residential types)
Decreased 12.90% from $273,815 in August 2007 to $238,504 in August 2008.

Median Sales Price (the price at which half the homes were sold above and half below)
Decreased 16.25% from $220,900 in August 2007 to $185,000 in August 2008.

Average Days on Market:
Days on Market for August 2008 was 77 days average.

Pending Contracts:
Decreased 14.26% from1,024 in August 2007 to 878 in August 2008.

Active Listings:
Decreased 13.30% from 8,954 in August 2007 to 7,763 in August 2008.

New Listings:
Decreased 16.47% from 2,337 in August 2007 to 1,952 in August 2008.