Tag Archives: real estate - Page 2

Tucson MLS Statistics March 2011

Posted by on May 10, 2011 No comments

I can not believe so much time has gone by since I looked at the statistics below. I have been very busy showing property and trying to get Escrows to close. Let the Buyer beware!!

If you are doing a contract that is an as-is, do not expect to get much done on repairs. Make your price reflect the repairs in your initial contract and be sure you have the funds to do the necessary ones. If you are buying an REO with FNMA, DO NOT expect them to pay anything that they have not agreed to in their addendum. They will walk you down to closing and not pay for anything that is not called out in the Appraisal.

And speaking of appraisals… I just had one that we provided the appraiser a proposal to replace 30 broken and missing roof tiles, and fix roof due to water stain on front roof exterior. The appraiser did not write it up and said they do not have to do roof certs anymore. That was a $1200 repair. Let the Buyer Beware!!

We had a number of closings in March, but some of the other statistics did not hold up to improvement. BUT just wait, as that will change. I see maybe six more months of small decreases and then upward movement. Interest rates and housing prices will start up so I suggest you have purchased by December so you can lock in payments that are lower than renting. This will probably be the lowest pricing you will see for a number of years. When demand picks up the new homes will still be more expensive for about six months into 2012 and then they will get closer, but higher.

Oct.
2010		 Nov.
2010		 Dec.
2010		 Jan.
2011		 Feb.
2011		 Mar.
2011
Average Sales Price
 $177,133 $180,736 $186,399 $166,998 $182,388 $163,590
Median Sales Price
 $140,000 $139,900 $139,500 $134,250 $137,000 $125,000
Total Units Sold*
 752 800 907 780 879 1169
Active Listings
 7412 7455 6859 7147 6947 6703
Days On Market
 97 96 106 108 107 84
Listings Under Contract**
 1899 1900 1760 2013 2272 2152

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)

If you have the ability to get going on your home purchase, call me soon so you can get into your own Home before rates change and they will.

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Tucson MLS Statistics February 2011

Posted by on March 17, 2011 No comments

What a difference a month makes. Everything went in the correct direction and I am praying that it starts a trend. I am seeing it in the properties I am showing and the properties that are going under contract during March. I have been very busy, which is great, but tiring.

Interest rates have gone back down below 5% which is also good, but I would not count on it staying there. Markets will be in a turmoil because of happenings in Japan and Lybia. Gas prices are up for what reason I do not understand except, it again is the speculators driving the prices up.

I am short on time so I will give you the new table and try to write another blog next week if time permits.

Sep.
2010		 Oct.
2010		 Nov.
2010		 Dec.
2010		 Jan.
2011		 Feb.
2011
Average Sales Price
 $181,612 $177,133 $180,736 $186,399 $166,998 $182,388
Median Sales Price
 $145,855 $140,000 $139,900 $139,500 $134,250 $137,000
Total Units Sold*
 873 752 800 907 780 879
Active Listings
 7217 7412 7455 6859 7147 6947
Days On Market
 93 97 96 106 108 107
Listings Under Contract**
 1515 1899 1900 1760 2013 2272

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)

If I can help you Buy or Sell call me. I can do Short Sales, sell you a HUD Foreclosed home or just a regular Foreclosure (REO). Call me at 520-240-7130.

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Tucson MLS Statistics January 2011

Posted by on February 16, 2011 No comments

Wasn’t that cold snap a lot of fun for warm Tucson. I got caught at my office for a few hours until I could get the pipe thawed. I saw water everywhere around the East side. I was lucky and my gas did not go out as it did in many places including Rita Ranch. I guess we will all look to what happened and possibly get better prepared for a next time.

Well speaking of getting prepared I see prices having gone down in January and interest rates going up to just above 5%. The one good thing I saw is that 1648 contracts were written in January with a total of 2013 contracts still in Escrow at the end of January. I think this is a positive thing. The last high month for contracts written in that month was April 2010. Don’t forget December was a little slow and it may have caused January to show a pick up.

Aug.
2010		 Sep.
2010		 Oct.
2010		 Nov.
2010		 Dec.
2010		 Jan.
2011
Average Sales Price
 $186,562 $181,612 $177,133 $180,736 $186,399 $166,998
Median Sales Price
 $150,750 $145,855 $140,000 $139,900 $139,500 $134,250
Total Units Sold*
 882 873 752 800 907 780
Active Listings
 7170 7217 7412 7455 6859 7147
Days On Market
 91 93 97 96 106 108
Listings Under Contract**
 1378 1515 1899 1900 1760 2013

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)

The bad part of January was Average and Median Sales Price both went down, while Days on Market and Active listings went up. We are still getting a large number of Foreclosures and Short Sales and this is really hurting our market.

There are some good buys out there and I have four clients with contracts in progress, two Foreclosures (REO) and 2 Short Sales. I fully believe all four will close from March through May.

If I can help you purchase a home or Sell your home call me at 240-7130. Interest rates will start climbing soon from what I see.

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