Tucson | Oro Valley Real Estate Gateway » Tucson Housing market

Tucson Housing Market Is Not Sickly

Vallee Gold Team — Sun, 14 Aug 2011 14:31:09 +0000

Why doesn’t the media report accurate data…?

you can make any market look sickly…

The Tucson Market Shows Positive Market Indicators…

Here are the August 2011 Housing Market reports.

Tucson homes and land or the number of active inventory for the month of July was 5,518, a 17% decrease from the same time last year! We had a whopping 1,102 properties that sold in July which was 39% above the same time last year!!!

We had decreased in the number of months supply of inventory to 5, DOWN from 8.4 in July 2010. Median price of sold homes was $127,000 for the month of July 2011, down 15% from July 2010. The Tucson Market had 1,381 new properties under contract in July 2011, up 48% from July 2010

Months of Inventory (MOI) is a good indicator of market health, taking into account both current inventory and sales rates. As a rule of thumb, a market is considered “balanced” when Months of Inventory is around 6.
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Tp 20 Metro Areas With The Highest Foreclosure Rate In The U.S.

Vallee Gold Team — Mon, 07 Jun 2010 01:07:04 +0000

Foreclosure

Source: Realty Trac

The 20 Metro Acreas with the highest Foreclosure rate in the U.S.

Foreclosure Actions including default notices, auction notices, and bank reposessions. Foreclosure actions per 1,000 Housesol

Las Vegas-Paradise, NV 11.12
Cape Coral-Ft. Myers, FL. 10.86
Modesto. CA 10.01
Riverside-San Bernardino-Ontario, CA 8.82
Stockton, CA 8.52
Port St. Lucie, FL 8.29
Merced, CA 8.22
Bakersfield, Phoenix-Mesa-Scottsdale, AZ 8.06
Vallejo-Fairfield, CA 8.00
Miami-Ft. Lauderdal-Popano Beach, FL. 7.85
Orlando-Kissimmee,FL. 7.59
Reno-Sparks, NV 7.35
Sacramento, CA 6.54
Detriot-Warren-Livonia, MI 6.36
Lakeland, FL. 6.22
Fresno, CA 5.90
Naples-Marco Island, FL 5.84
Visalia-Porterville, CA 5.81
Ocala,FL 5.54

Tucson Market Snapshot 05/29/2010

Vallee Gold Team — Sat, 29 May 2010 15:25:32 +0000

Tucson Market Snapshot for 5/29/2010

Arizona Foreclosure Map

Total Properites listed: 10,154

Month-Over-Month Change: -20.41%

Average List Price: $307,423
Median List Price: $196,900
Average foreclosure sales price: $131,979
1 in every 266 housing units received a foreclosure filing in April 2010. (Realty Trac)
Over 2,607 foreclosures occur in the price range of $100,000-$200,000.

Search all Tucson, AZ foreclosures

Tucson Luxury Home Short Sale Specialist

Vallee Gold Team — Mon, 17 May 2010 04:33:04 +0000

Tucson Luxury Home Short Sale Specialist, Don & Kathy Vallee, CDPE, CRS, CLHMS

RE/MAX Excalibur Realty.

We have closed over 30 short sale transactions. We have the experience and knowledge it takes to get your home sold. We are available to discuss the Tucson housing market and the options available to you. If you have a luxury home to sell then agents with a proven sales record.

Find out why our marketing program will get your home sold. As certified luxury home specialist and certified short sale experts we are here to help. Please visit our website at www.FindTucsonShort Sales.com to answer your questions related to the short sale process.

Check out our featured listings at Homes and Land Magazine on the back page and online.

Call Don or Kathy Vallee, CDPE, CRS, CLHMS at 520-544-5555.

My favorite Place To Relax in The Valley of Gold…Oro Valley, AZ

Vallee Gold Team — Mon, 04 Jan 2010 20:48:56 +0000

Are you new to the Oro Valley area?…the Valley of Gold. My favorite place to relax and enjoy my well being..celebrate and give my body some special treatments. Pam Crim owner of Desert Day Spa opened a small neighborhood salon…

It reminds me of the salon in the Juilia Roberts movie called “Steel Magnolias”…I love this salon…get the picture?

Check it out…Desert Day Spa

Get the directions

Tucson MLS Housing Market – October

Vallee Gold Team — Thu, 05 Nov 2009 20:41:08 +0000

Tucson Housing Market Statistics for the month of October 2009.

Please click the following link to access the MLS Statistics for the month of October

Search for Foreclosures and Short Sales.

Tucson April 2009 Housing Statistics

Vallee Gold Team — Wed, 06 May 2009 00:44:40 +0000

Great news for the Tucson housing market! Since January ’06 we had 6,890 listings. At this time last year, there were 8,800 or 21.78% more. The number of days on market is down in the 70′s from the 80′s and so far this year we are only down 219 units from 2008.

The median sales price dropped less than one percent last month and is now $164,000.

We have a trend going as the pending sales are moving closer together. In summary, our inventory is dropping and new sales are increasing so we are starting to absorb the over supply. This combined with the fact that new home permits are down indicates that the housing supply is coming closer and closer to demand. We can conclude that prices don’t continue to fall when supply is on the decrease in relation to demand.

Are we in a housing Crisis? CNBC By Dennis Kneale

Vallee Gold Team — Sat, 27 Sep 2008 17:09:43 +0000

We have been reading all kinds of commentary regarding the housing crisis…mostly negative. We found a terrific commentary on CNBC by Dennis Kneale….enjoy the clip from CNBC.

The Tucson market continues to stabilize as our active inventory continues to decline. with 7,763 active listings, this shows a 13.95% decrease over a 2008 high of 9,022 in March. From July 2007 to August 2007, there was a 3.01% increase in active listings; from July 2008 to August 2008 there was a -1.43% decrease in active listings.

Our seasonal market for August and September, took a dip in total unit sales and this year we closed a little less than we did in August of 2007.

The Tucson 2008 average sales price of $238,504 continues to moving downward due to the short sales and foreclosures, in August 2007 the average sales price was $273,815.

What’s really going on with the housing market?

Vallee Gold Team — Sun, 14 Sep 2008 13:37:45 +0000

It has been a rough summer in Tucson, Arizona for the real estate market. Although our business is up 8 percent this year…the housing market in Tucson remains slow. So what happens now that the U.S government has decided to take over Fannie Mae & Freddie Mac? How will it affect the housing market?

Alan Greenspan was interviewed on bloomberg this morning about the government take over of Fannie Mae & Freddie Mac, including what is happening with Lehman. Interesting interview!

Tucson Housing Market Comparison

Vallee Gold Team — Sun, 08 Jun 2008 19:07:08 +0000

Tucson, Arizona

Chris Porter of John Burns Real Estate Consulting releases City-by-City price comparisons for 2008.

Tucson is no longer the sleepy cow town that is depicted in popular western movies filmed at "Old Tucson Studios" in the last 70′s. Nicknamed as Arizona’s Hollywood in the Desert.

Buyer’s that are relocating to Tucson need to understand that the housing market is a local market. Tucson is still considered to be a buyer’s market…but that is a relative term. According to the Tucson Association of Realtors housing market stats for April 2008…our market is starting to see some recovery.

If you are a fence sitter and waiting for the market to drop further…you may miss the bottom of the market. I say "Buy" now! Look at the long term investment, interest rates are low…

Median price end of 2007: $235,000

Median price end of 2006: $239,000

Percent change: -1.5%

Projected change through Q# 2008: -15.4%

Affordability rating: 5.7

Foreclosures in 2007: (1 for every 96 households) 4,239

Foreclosures in 2006: (1 for every 168 households) 2,422

Change in foreclsoures: +75%