Graywater
On Tuesday, September 23, 2008 the Tucson City Council formally adopted the Graywater Ordinance mandating all new housing construction starting June 1, 2010 to be pre-plumbed with graywater systems. Graywater is to be used to irrigate landscaping and is wastewater that comes from bathroom sinks, laundry sinks, showers and tubs. Tucson Association of REALTORS® was an active stakeholder working on this ordinance. Although the house will come plumbed for graywater it will still be up to the home owner to connect plumbing to a system within the home.
Commercial Rainwater Harvesting
On Tuesday, October 14, 2008 the Tucson City Council formally adopted the Rainwater Harvesting Ordinance that has been developed over the past nine months. The TAR Public Affairs Committee approved the support of the ordinance that will require 50% of the annual irrigation needs of a commercial project be obtained by water harvesting means, which may include cisterns, burming, earthworks and other harvesting techniques. This is a much more palatable ordinance considering that initially the percentage was 100%.
Call Julie Nellis, Long Realty, for all your real estate needs. 520-918-3843, nellisja@aol.com
Thursday, October 16, 2008
September 2008 Tucson Housing Report
SEPTEMBER OF 2008 HAS SET A RECORD INCREASE IN SALES OVER AUGUST SINCE 1996!
Historically September is a slower month than August which has been the case since 1996. This year there was an increase in sales by 3.43% over August which affirms that the Tucson market is continuing to stabilize.
Now is a good time to buy a home.
- Conditions are ideal for buyers. Prices have moderated, and interest rates are hovering near 40-year lows.
- Current market conditions won't last long. NAR research shows that prices are beginning to stabilize and interest rates are creeping up. A modest increase in property values is expected in 2009.
- The new first-time homebuyer tax credit and the availability of a number of attractive and safe mortgage products provide additional reasons for buyers to get off the fence and into the market.
The market is strong and getting stronger.
- The new homebuyer tax credit contained in the new Housing and Economic Recovery Act of 2008 likely will bring about 2.5
million first-time buyers into the market between now and the middle of next year.
- The Emergency Economic Stability Act enacted on October 3, 2008 will help to improve credit markets, and NAR predicts that as a result home prices will pick up in 2009.
- Home ownership continues to be a wise investment. FHA market share is expected to triple over the next three years, from an estimated 4 percent in 2007 to 12 percent in 2009
Contact Julie Nellis for more information on Tucson's Real Estate Market. 520-918-3843 or visit my website at www.tucsonhouses4you.com
Historically September is a slower month than August which has been the case since 1996. This year there was an increase in sales by 3.43% over August which affirms that the Tucson market is continuing to stabilize.
Now is a good time to buy a home.
- Conditions are ideal for buyers. Prices have moderated, and interest rates are hovering near 40-year lows.
- Current market conditions won't last long. NAR research shows that prices are beginning to stabilize and interest rates are creeping up. A modest increase in property values is expected in 2009.
- The new first-time homebuyer tax credit and the availability of a number of attractive and safe mortgage products provide additional reasons for buyers to get off the fence and into the market.
The market is strong and getting stronger.
- The new homebuyer tax credit contained in the new Housing and Economic Recovery Act of 2008 likely will bring about 2.5
million first-time buyers into the market between now and the middle of next year.
- The Emergency Economic Stability Act enacted on October 3, 2008 will help to improve credit markets, and NAR predicts that as a result home prices will pick up in 2009.
- Home ownership continues to be a wise investment. FHA market share is expected to triple over the next three years, from an estimated 4 percent in 2007 to 12 percent in 2009
Contact Julie Nellis for more information on Tucson's Real Estate Market. 520-918-3843 or visit my website at www.tucsonhouses4you.com
Sunday, September 21, 2008
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
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
Saturday, September 20, 2008
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.
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.
Friday, August 22, 2008
July 2008 Housing Market Report
July 2008 Residential Housing Report
KEY INDICATORS CONTINUE TO SHOW IMPROVEMENT IN THE
TUCSON REAL ESTATE MARKET... according to the Tucson Association of
Realtors Multiple Listing Service July '08 Monthly Statistical Digest. The consistent
strength in the year to date sold and closed units, plus fewer listings coming on the
market (1,000+ fewer tjam July '07) are reflected in the July Tucson listing inventory
number that dipped below 8,000 units for the first time since March 2006 (28 months
ago).
The Tucson July Median Sales Price continues to hover around $200,000, with the
largest number of reported Solds in the Northwest area (241 sales), and the Central
Home Sales Volume: Decreased 23.92% from $316,549,145 in July 2007 to $240,837,426 in July 2008.
Home Sales Units: Decreased 20.04% from 1,182 in July 2007 to 945 in July 2008.
Average Sales Price (all residential types): Decreased 4.84% from $267,808 in July 2007 to $254,854 in July 2008.
Median Sales Price (the price at which half the homes were sold above and half below): Decreased 7.88% from $217,000 in July 2007 to $199,900 in July 2008.
Pending Contracts (new transactions subject to contract in the month): Decreased 45.98% from 1,777 in July 2007 to 960 in July 2008.
Active Listings: Decreased 9.39% from 8,692 in July 2007 to 7,876
in July 2008.
New Listings: Decreased 39.30% from 2,766 in July 2007 to 1,679
in July 2008.
The July Median Sales Price for Single Family Residences was $210,000, for Condos was
$137,000, for Townhomes was $169,000 and for Manufactured Homes was $105,000.
Even though we are seeing the Active Listing Inventory shrinking, it is still a Buyer's Market.
First Time Homebuyers may qualify for the $7500 Tax Credit under the recently passed Federal Housing Stimulus Bill, and remember a First Time Homebuyer is someone who has not owned a home in the past three years.
Buyers can certainly benefit in this quickly changing market by working with a knowledgeable Realtor who knows the local market, including the values of our neighborhoods, and the availability of low interest rate home loans.
For more information on Tucson Real Estate call Julie Nellis, Long Realty, 520-990-8477 or visit www.tucsonhouses4you.com
KEY INDICATORS CONTINUE TO SHOW IMPROVEMENT IN THE
TUCSON REAL ESTATE MARKET... according to the Tucson Association of
Realtors Multiple Listing Service July '08 Monthly Statistical Digest. The consistent
strength in the year to date sold and closed units, plus fewer listings coming on the
market (1,000+ fewer tjam July '07) are reflected in the July Tucson listing inventory
number that dipped below 8,000 units for the first time since March 2006 (28 months
ago).
The Tucson July Median Sales Price continues to hover around $200,000, with the
largest number of reported Solds in the Northwest area (241 sales), and the Central
Home Sales Volume: Decreased 23.92% from $316,549,145 in July 2007 to $240,837,426 in July 2008.
Home Sales Units: Decreased 20.04% from 1,182 in July 2007 to 945 in July 2008.
Average Sales Price (all residential types): Decreased 4.84% from $267,808 in July 2007 to $254,854 in July 2008.
Median Sales Price (the price at which half the homes were sold above and half below): Decreased 7.88% from $217,000 in July 2007 to $199,900 in July 2008.
Pending Contracts (new transactions subject to contract in the month): Decreased 45.98% from 1,777 in July 2007 to 960 in July 2008.
Active Listings: Decreased 9.39% from 8,692 in July 2007 to 7,876
in July 2008.
New Listings: Decreased 39.30% from 2,766 in July 2007 to 1,679
in July 2008.
The July Median Sales Price for Single Family Residences was $210,000, for Condos was
$137,000, for Townhomes was $169,000 and for Manufactured Homes was $105,000.
Even though we are seeing the Active Listing Inventory shrinking, it is still a Buyer's Market.
First Time Homebuyers may qualify for the $7500 Tax Credit under the recently passed Federal Housing Stimulus Bill, and remember a First Time Homebuyer is someone who has not owned a home in the past three years.
Buyers can certainly benefit in this quickly changing market by working with a knowledgeable Realtor who knows the local market, including the values of our neighborhoods, and the availability of low interest rate home loans.
For more information on Tucson Real Estate call Julie Nellis, Long Realty, 520-990-8477 or visit www.tucsonhouses4you.com
Thursday, August 14, 2008
Why Buy Right Now?
It is a great time to buy! Buy before these changes to FHA financing take effect October 1st:
*Minimum downpayment is increasing from 3% to 3.5%
*Many sources of down-payment assistance will no longer be available
*Long Companies’ Home Closing Guarantee:
On Time Closing & Closing Costs Guaranteed
Your Home Closing Guarantee Includes:
On Time Closing Guarantee 1 - If your loan from Long Mortgage doesn’t close on your new home by the initial close date stated in your purchase contract due solely to Long Mortgage or Long Title delay, we will at closing either (1) reimburse you one monthly principal and interest payment OR (2) credit you $1,000 toward closing costs, whichever is greater.
Closing Cost Guarantee 2 - Should your actual closing costs be OVER the amount quoted in the Good Faith Estimate, we will credit you the difference at closing.
A full title search & commitment on lot and block property that you are purchasing within 48 hours after receipt of the order from escrow.
Sufficient time to approve your title commitment during the inspection period.
A LSR (Loan Status Report / Conditional Loan Approval) will be in your hands at no additional cost prior to your property search.
No charge for your appraisal should your contract fall through during the inspection period.
To put Long Companies’ Home Closing Guarantee to work for you, please contact a Long Mortgage Consultant, Tony Poe, at 520-918-1651 or email at tonyp@longmortgage.com
*Minimum downpayment is increasing from 3% to 3.5%
*Many sources of down-payment assistance will no longer be available
*Long Companies’ Home Closing Guarantee:
On Time Closing & Closing Costs Guaranteed
Your Home Closing Guarantee Includes:
On Time Closing Guarantee 1 - If your loan from Long Mortgage doesn’t close on your new home by the initial close date stated in your purchase contract due solely to Long Mortgage or Long Title delay, we will at closing either (1) reimburse you one monthly principal and interest payment OR (2) credit you $1,000 toward closing costs, whichever is greater.
Closing Cost Guarantee 2 - Should your actual closing costs be OVER the amount quoted in the Good Faith Estimate, we will credit you the difference at closing.
A full title search & commitment on lot and block property that you are purchasing within 48 hours after receipt of the order from escrow.
Sufficient time to approve your title commitment during the inspection period.
A LSR (Loan Status Report / Conditional Loan Approval) will be in your hands at no additional cost prior to your property search.
No charge for your appraisal should your contract fall through during the inspection period.
To put Long Companies’ Home Closing Guarantee to work for you, please contact a Long Mortgage Consultant, Tony Poe, at 520-918-1651 or email at tonyp@longmortgage.com
July 2008 Tucson Housing Report
July was a very good month for our industry in many ways! Our listing inventory has dropped below the 8,000 mark for active listings. We have not been below 8,000 listings since March of 2006.
New listings are also down by 19.86%.This is just another sign that we are continuing to see market improvement. July has historically been a slower month with a decrease in sales from June 2007 to July 2007 of 21.72%.
I am happy to report that the decrease in sales for June 2008 over July 2008 is 9.53%. There is virtually no change in the median sales price, it appears to have stabilized currently at $199,900.
New listings are also down by 19.86%.This is just another sign that we are continuing to see market improvement. July has historically been a slower month with a decrease in sales from June 2007 to July 2007 of 21.72%.
I am happy to report that the decrease in sales for June 2008 over July 2008 is 9.53%. There is virtually no change in the median sales price, it appears to have stabilized currently at $199,900.
Subscribe to:
Posts (Atom)
