Tucson MLS Statistics June 2011

Posted by on July 12, 2011 No comments

The numbers for June did some minor adjustments that seem good to me. I am getting concerned about our Economy cooling. We are not generating enough jobs to get the economy moving and I really do not see it happening soon. Our Government seems to be stuck on political sides. The Government needs to stop spending on really stupid projects. The current Administration said they would keep unemployment below 7%. How is that working out for everyone. They pushed Healthcare through and now premiums are going up and I know this is going to really hurt better than 50% of our population. The Healthcare Bill cost time to get people back to work as Congress did nothing to really help get people back to work. The Democrats controlled both the Senate and the House and they could not take time to do the mandatory budget and now we are fighting over our debt limit because of all the spending. We need to bite the bullet and get this done.

We need a complete rewrite of the Tax Code and get rid of the special tax breaks, such as Ethanol. We need to start producing oil from the fields that are ready to go. Our President has caused all of us to pay more for gas and food because HE STOPPED the permitting and production in the Gulf after the BP disaster. By the way an accident is not reason to stop all production. We should be putting people to work generating oil so our prices could go down.

I am so disenchanted by the current administrations claims that they are doing things that will help, but it is just small things that are not generating many jobs. He speaks one thing, but does something else.

My wife and I are reading “The Obama Nation” which was written before he was elected. I feel the author has done a lot of research and the book scares me. I believe Obama has lied or deflected his answers so he would not have to disclose his associations with many unsavory people. He really is a Chicago Politician. He pulled the wool over a lot of people’s eyes. I just hope the voting public listens to what he says and then what he does.

I still think that Tucson will see prices stabilizing the last quarter of this year. Our Inventory is still going down each month since January. I still have some fear the Banks will start foreclosing on more of the properties that they have delayed the process on. I know they are doing it as I have one they have delayed each month for over six months.

Jan.2011 Feb.2011 Mar.2011 Apr.2011 May2011 Jun.2011
Average Sales Price
 $166,998 $182,388 $163,590 $173,981 $168,453 $167,172
Median Sales Price
 $134,250 $137,000 $125,000 $132,000 $127,000 $126,000
Total Units Sold*
 780 879 1169 1152 1247 1312
Active Listings
 7147 6947 6703 6269 5795 5566
Days On Market
 108 107 84 83 80 79
Listings Under Contract**
 2013 2272 2152 2610 2239 2163

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.
* Closed during the month.
** For the current month (not the total listing under contract)

Total Units Sold has also increased each month since January. We did have a drop of 76 units for June in Listings under Contract but this number has been going up and down since January also.

If our Economy could get a boost from our Government finally getting something done we could see a marked improvement. I believe OIL could be a game changer but with our current President it will not happen soon. He has us by the throat and most do not see it. How is he working out for you and your family and friends?

Call me if You need help buying as now is the time if you can do it. Call me on my cell at 520-240-7130.

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Tucson MLS Statistics May 2011

Posted by on June 9, 2011 No comments

How fast the time has been flying by for me, but yet still dragging for all of us in our Economy. This latest hurt to all of us is Gas!! OPEC seems to get enjoyment in keeping the Global Economy in turmoil as shown by their recent decision yesterday to keep the same production, as it will keep prices up. Many wanted to reduce production so it would push prices up even more. Up for me, is more money spent on Gas and of course the extra costs we see in food, clothing and things associated with higher gas such as Airline fares.

We are sitting on vast resources of Oil but our current Administration has no desire to allow more permits or speed up the process in obtaining the permits to Drill for Oil. Alaska sits on a huge deposit in just a small area but all I hear is we will not allow it because of what it might do to the natural environment of the whole area. They do not want to drill in the whole area, just a very small part which is less than 100 miles from an existing pipeline (I think the number is around 75 miles). Why do we have to put up with these lame excuses because of this current Administration?

The permits could be granted with much oversight which I really do not think the Oil Companies will have trouble complying with, as long as it makes sense. And that is one of the problems as to what makes sense. In my Air Force career I found a lot of people who had common sense and were not highly educated, and then I found many educated people who had no common sense. Lots of book learning, but just did not know how to apply what they knew. ACCIDENTS do happen, and they are accidents and not the norm.

I have seen more highly educated people who do not know how to run a company trying to tell us how to run our Economy, but look where we are right now. Just get out of the way and stop spending money that we do not have and let the small businesses pave the way. Make it easy at all levels to get a business going and stop putting roadblocks in front of them. Let them earn a real profit that is not taxed to the limits. These roadblocks exist from the Federal Government, State Government all the way down to the City level. Lets get smarter and stop sending jobs overseas and put more Americans back to work.

There is much more I would like to say but I won’t for now. Our Real Estate Economy depends on many things and I hate to see the problems we are all experiencing at this time. Take money away, and we stop buying many things and Housing is really one of the major contributors to our Economy. Look at all the tradespeople involved in building a home. What about all the things that go into the home after it has been finished. Appliances, furniture and landscaping and much more. Where does that come from? People who have jobs making those products or services.

We have seen some more drop in the Average and Median Sales Prices but all it takes is more lower priced homes selling and it will push these numbers down. The Active listing Inventory has come down and Units Sold had a good positive number. I am still optimistic that we will see our Housing Market leveling out around the 1st of October .

Dec.
2010		 Jan.
2011		 Feb.
2011		 Mar.
2011		 Apr.
2011		 May
2011
Average Sales Price
 $186,399 $166,998 $182,388 $163,590 $173,981 $168,453
Median Sales Price
 $139,500 $134,250 $137,000 $125,000 $132,000 $127,000
Total Units Sold*
 907 780 879 1169 1152 1247
Active Listings
 6859 7147 6947 6703 6269 5795
Days On Market
 106 108 107 84 83 80
Listings Under Contract**
 1760 2013 2272 2152 2610 2239

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract)

I just read an article today that said foreclosure filings notices for Pima County were down but actual foreclosures were up some. The number did not really surprise me and I do see some good coming soon. My only fear is the Lenders holding back on the actual Foreclosure, which will lengthens the time to get out of the large numbers we have seen. I am still sitting on a listing I have had for 18 months and they just keep postponing the actual Foreclosure. WHY? It has been Vacant all that time.

RIGHT NOW prices are very low and interest rates are still under 5%. The more you wait, the bigger chance both will go up. I can not believe the monthly payment and home you can get today. Why not call me and discuss what you might be able to do. Call me at (520) 240-7130.

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Tucson MLS Statistics April 2011

Posted by on May 19, 2011 No comments

What a difference a month makes. I hate to make too many predictions but I feel by the end of the 3rd Quarter, Tucson will be on its way to healing our local Housing Market. Will we be out of the woods? No, but I think we will see the market leveling and possibly a lower inventory that will cause prices to reverse the downward trend. So many home sellers would be upside down if they tried to sell right now so they will not put their home on the market for a while. At the same time I have seen a slowing of Foreclosure Notices being recorded.

The Foreclosure Notices have decreased, but is that due to fewer people in trouble or the Banks letting it slide while they extract themselves from Court actions that have happened all over the US. The inventory of REO’s has slowed, but I can attest that is due to the Banks not completing the Foreclosure after the 91st day. I have one that has been extended at least five times with no Contract, and the only reason I can see is the problems the Banks had with Robo signers. I am not sure why this should affect Tucson or Arizona as we are a Deed of Trust State which does not require a Court action as do many of the Eastern States who operate under Mortgages. What ever the reason, it has slowed the recordings of Notices. Fewer Notices, fewer REO’s from Foreclosure and fewer Short Sales. As this part of the inventory shrinks and the sellers that are upside down do not try to sell, the Inventory gets smaller and the number of buyers wanting to buy gets larger, we will see prices starting to increase.

 

Nov.
2010		 Dec.
2010		 Jan.
2011		 Feb.
2011		 Mar.
2011		 Apr.
2011
Average Sales Price
 $180,736 $186,399 $166,998 $182,388 $163,590 $173,981
Median Sales Price
 $139,900 $139,500 $134,250 $137,000 $125,000 $132,000
Total Units Sold*
 800 907 780 879 1169 1152
Active Listings
 7455 6859 7147 6947 6703 6269
Days On Market
 96 106 108 107 84 83
Listings Under Contract**
 1900 1760 2013 2272 2152 2610

The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables.

* Closed during the month.
** For the current month (not the total listing under contract)

Our State, but mostly in the Phoenix area, has seen its more than fair share of Foreclosures. We are just one of a few States that really got in trouble. But what about those other States that they can sell today and move to Tucson. This too will increase that buyer pool that will help push our prices back up. What is back up? Do not expect large or fast increases, but we will start to dig our way back out of the hole. I hope to see a 3%-5% increase each year for the time coming. This was the norm for many years. Some areas of Tucson did better but this steady increase is much better for our community.

The other point, if you think you will wait, is interest rates. THEY will go back up, and I think sooner than later. I again expect by the end of the 3rd quarter rates will be above 5.5% and probably closer to 6%. Our National economy is really in the tank and there are some good signs, but as long as Congress spends more than is brought in, we are in trouble. With our divided government we will not make much headway to improve our lives. We need a change!!

I personally have been busy and I thank the good Lord for that, but I have time to do more. If I can help you, call me. Use my website www.BarryFotheringham.com to gain access to our MLS as much as you want. If you are a renter use www.AbilityRentalHomes.com to find that rental. If you are a renter, why not see what you can buy instead of renting. It is much closer than you think. Call Elaine DeTour-Spronken at NOVA Home Loans at 520-202-5343 to see what you can do. She is excellent and I have used her for years for my clients. She is very Service orientated and will give you straight answers.

Since I have not had time to really say what I feel and think I have kept my posts short, but this should help you see what is coming in the next six months to a year.

Why not call me and get ready to buy?

 

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