Wishing everyone a safe and happy 4th of July.
Happy Independence Day!
Renee
Monday, July 4, 2011
Monday, May 2, 2011
Is now the best time to buy a home?
1. Although the market is rapidly heating up many buyers are still asking the question “should I buy now?”
While price is the major concern for anyone selling a home, cost should be the primary focus of a buyer. That means you must take into account what your monthly payment will be, considering not only price of the home but the interest rate of your loan as well. Waiting for prices to bottom out while rates are increasing can and will wind up costing you more over the life of the loan. Fannie Mae, Freddie Mac, the National Association of Realtor, PMI and the mortgage Bankers Association are all projecting interest rates will increase over the next several quarters. It’s best that you meet with a mortgage professional to help you determine what an interest rate increase will cost you based on the size of your loan in addition to meeting with a real estate professional to discuss market trends. This information will help you to make the best decision for you.
2. As we are all beginning to witness the increase in activity many buyers (and sellers) are asking “when will I begin to see appreciation?”
Appreciation varies from market to market so it is important to sit down with an expert in your market area to look closely at local pricing trends. Nationally, there are indications that values will begin to rise this year. National Association of Realtor (NAR) projects home prices to grow slightly, .5% in 2011. Marco Markets LLC, a financial technology company, recently asked more than 100 housing industry experts to project housing prices through 2015. The results, released in the company’s 2010 Home Price Expectation Survey, show that experts think prices will start increasing in the second half of 2011, reaching a cumulative appreciation of more than 10% by 2015. Tucson area experts are expecting up to 3% appreciation this year and again next year.
3. Some people right now are giving a heavy look to the differences between buying and renting and asking the question “does buying really make better sense than renting?”
Forget about finances for a minute. Why did you ever consider buying a home? The Fannie Mae National Housing Survey shows that four of the biggest reasons people buy a home have nothing at all to do with money. They want a place to raise and educate their children, they want a place where their family will feel safe and secure, they want to have plenty of living space and outdoor space, and they want to have control over their space. What non-financial benefits will your family have from owning a home? Your answer to that question should be the reason you choose to buy or not. The cost of a home will probably remain relatively unchanged when you are in even when home prices go up. Verses the unknown of rising rents and the possibility of having to move before you are ready. There are many financial benefits to being a home owner in addition to the tax benefits, equity growth etc. However don’t allow money to be the only factor in making the decision that’s best for you.
If you are considering buying a home I would love to talk with you more about our local Tucson marekt!
Renee
While price is the major concern for anyone selling a home, cost should be the primary focus of a buyer. That means you must take into account what your monthly payment will be, considering not only price of the home but the interest rate of your loan as well. Waiting for prices to bottom out while rates are increasing can and will wind up costing you more over the life of the loan. Fannie Mae, Freddie Mac, the National Association of Realtor, PMI and the mortgage Bankers Association are all projecting interest rates will increase over the next several quarters. It’s best that you meet with a mortgage professional to help you determine what an interest rate increase will cost you based on the size of your loan in addition to meeting with a real estate professional to discuss market trends. This information will help you to make the best decision for you.
2. As we are all beginning to witness the increase in activity many buyers (and sellers) are asking “when will I begin to see appreciation?”
Appreciation varies from market to market so it is important to sit down with an expert in your market area to look closely at local pricing trends. Nationally, there are indications that values will begin to rise this year. National Association of Realtor (NAR) projects home prices to grow slightly, .5% in 2011. Marco Markets LLC, a financial technology company, recently asked more than 100 housing industry experts to project housing prices through 2015. The results, released in the company’s 2010 Home Price Expectation Survey, show that experts think prices will start increasing in the second half of 2011, reaching a cumulative appreciation of more than 10% by 2015. Tucson area experts are expecting up to 3% appreciation this year and again next year.
3. Some people right now are giving a heavy look to the differences between buying and renting and asking the question “does buying really make better sense than renting?”
Forget about finances for a minute. Why did you ever consider buying a home? The Fannie Mae National Housing Survey shows that four of the biggest reasons people buy a home have nothing at all to do with money. They want a place to raise and educate their children, they want a place where their family will feel safe and secure, they want to have plenty of living space and outdoor space, and they want to have control over their space. What non-financial benefits will your family have from owning a home? Your answer to that question should be the reason you choose to buy or not. The cost of a home will probably remain relatively unchanged when you are in even when home prices go up. Verses the unknown of rising rents and the possibility of having to move before you are ready. There are many financial benefits to being a home owner in addition to the tax benefits, equity growth etc. However don’t allow money to be the only factor in making the decision that’s best for you.
If you are considering buying a home I would love to talk with you more about our local Tucson marekt!
Renee
Monday, April 11, 2011
New Purchase Contract
Did you know that Arizona Association of Realtors (AAR) put out a new purchase contract and supplemental Addendums, including a required Loan Pre-Qualification form, in February of this year? The contract has been used exclusively since March 1st, 2011; although there are still some agents, brokers and companies out there using the old contract! Whether you are a buyer or a seller this puts you at risk or at the very least facing a counter offer demanding proper/current forms. Make sure whomever you work with and is representing you (if in the far off chance it is not me) is an expert and has had training and experience with the new contract and forms. You don’t want someone “practicing” on you and with your house! I have been through training and several successful escrows and closings with the new contract. You also want to make sure your lender is on board with the new Pre-Qual and LSU requirements they are facing as well. It is a team effort. If you have any questions it would be my pleasure to speak with you about all of the details of the contracts and negotiations. Your personal Realtor! Renée
Friday, April 1, 2011
Reasons to Sell Your Home with a Real Estate Professional
By the KCM CrewArizona REALTOR® Magazine » April 2011 Should you spend the money on a real estate commission or save that money by selling your home by yourself? That is a question many home sellers ask themselves. Today, we want to discuss why it is crucial to have a true professional guiding you through the minefield of challenges that exist in the current real estate market. The housing market today is more challenging than it has ever been and seems to be becoming more difficult each day. What impact will foreclosures have on prices? Which loan products that were available just last month are no longer available? How do you convince perspective purchasers to pull the trigger on an offer when everyone is telling them that they should see another 100 houses before they make a decision? These are tough questions even for a trained, experienced professional. The lay person would find it almost impossible to keep abreast of this rapidly evolving industry. Here are six important reasons to use a real estate professional: 1. Pricing Is Difficult Just a few years ago, you didn’t have to worry about overpricing your home. If it was too high, all you needed to do was wait as historic appreciation was taking place. The situation is quite different today. With the possibility of a continuing drop in home values, overpricing your property will cost you time. In this market, time costs you money. A professional real estate agent will discuss how increasing inventory could dramatically impact the value of your property in the months to come. They will help you set the right price in today’s market. 2. Negotiating Ability Is Crucial Buyers today have an almost unlimited supply of homes from which to choose. They realize this puts them in a great negotiating position. Most buyers are now being represented by an agent. Sellers need to also be represented by a professional expert trained to negotiate real estate contracts. 3. Mortgaging Is Key to the Deal The biggest impact on the housing market collapse is that lending standards are much stricter today than they were a few short years ago. Rules are constantly changing. Even FHA has gone through a guidelines overhaul in the last several months. You need a real estate expert who has teamed up with a knowledgeable mortgage professional to make sure that the buyer in the deal is in fact capable of obtaining a mortgage. Losing time with an unqualified buyer costs you money in a market where prices are falling. 4. Your Family’s Safety We have always found it puzzling that the same person who will lock every door and window and set the alarm today will then allow total strangers into their house tomorrow. The real estate industry trains its practitioners to take steps to protect themselves and their clients. Take advantage of putting a person between you and the person calling on an ad or a yard sign. 5. You Probably Have More Important Things to Do Selling a home could turn into a full time job. Learning the necessary disclosures, coordinating the dates of your closings, dealing with a challenge regarding your appraisal and re-negotiating the offer after an engineer’s report are just a few of the concerns you may face. You would probably be better off spending that time with the items important to you and your family and leaving the challenges to your agent. 6. Exposure to Potential Purchasers When sellers think of getting exposure for their home, they immediately think of print advertising. Certain print media might still have a place in marketing a niche property (luxury, equestrian, waterfront, etc.). However, we want our readers to know that although print advertising has traditionally been the way homes had been introduced to the buying public, the medium has been losing its impact over the last several years. Recent studies have shown that less than 3% of buyers find their home through newspaper advertising today. At the same time, over 30% find a home through the Internet. Let’s take a look at how real estate experts market listings today. Multiple Listing Systems (MLS)Once you list your property with a member of the local MLS, every other member of the system is alerted that your house is now available for purchase. In a matter of hours, hundreds or thousands of real estate professionals have the ability to easily share the specifics of your home with each of their buyers. There is nothing an individual seller can do to come close to this immediate exposure to thousands of potential buyers. Internet SitesAlmost every real estate company and many agents have their own websites promoting their homes for sale. Many companies also have standing relationships with national listing aggregators (Trulia, Zillow, Yahoo!, etc.). It would be impossible for a seller to get the width of exposure the real estate agent has at his/her fingertips. Social MediaMore and more industry professionals are learning the power of social media when promoting real estate. They have created a community of followers looking for information about the region or neighborhood where they work. Of course, a percentage of those followers will be interested in what is taking place with the real estate market within that area. A new venture, which has not yet been fully utilized, social media is beginning to play a larger role in the marketing of an area and the homes in that area. Bottom Line To make sure the sale of your home is handled professionally — hire a trained professional. In the long run, you will wind up with more money in your pocket and have fewer challenges with the move. This article was originally published on the Keeping Current Matters Blog.
Thursday, March 24, 2011
The U.S. Population Keeps Growing! How about AZ?
According to the US Census Bureau Arizona is the second fastest growing state with Nevada being number one. This equates to a faster and stronger housing recovery for our state than other parts of the US.
The 2010 Census released by the US Census Bureau, the US population was more than 308 million as of April 1, 2010, up 9.7% from 2000 resident population of 281 million.
All four regions of the country posted population increases over the past decade. The South gained more than 14 million people and the West gained more than 8.7 million. The Northeast and Midwest grew by 1.72 million and 2.53 million, respectively.
California was the most populous state with more than 37 million residents, and Wyoming was the least populous with 563,626 people. Texas had the largest population gain numerically (25.14 million, up from 4.29 million) and Nevada had the highest percentage gain, up 35.1% to 2.7 million. Michigan was the only state that declined in population.
(March/April 2011 issue of The Residential Specialist)
Food, clothing and shelter are the big three that humans will always need for survival. With the population growing there will be no lack of demand in the future for these. It only makes sense to invest in the “shelter” part of the equation now.
Give me a call I would love to talk with you more about this and help you!
Renee
The 2010 Census released by the US Census Bureau, the US population was more than 308 million as of April 1, 2010, up 9.7% from 2000 resident population of 281 million.
All four regions of the country posted population increases over the past decade. The South gained more than 14 million people and the West gained more than 8.7 million. The Northeast and Midwest grew by 1.72 million and 2.53 million, respectively.
California was the most populous state with more than 37 million residents, and Wyoming was the least populous with 563,626 people. Texas had the largest population gain numerically (25.14 million, up from 4.29 million) and Nevada had the highest percentage gain, up 35.1% to 2.7 million. Michigan was the only state that declined in population.
(March/April 2011 issue of The Residential Specialist)
Food, clothing and shelter are the big three that humans will always need for survival. With the population growing there will be no lack of demand in the future for these. It only makes sense to invest in the “shelter” part of the equation now.
Give me a call I would love to talk with you more about this and help you!
Renee
Tuesday, March 22, 2011
What is the ideal size home?
According to the consumer lifestyle survey by Relocation.com in October 2010, people reported on their ideal size home.
48% said 1,000 to 1,999 square feet
29% said 2,000 to 2,999 square feet
12% said less than 1,000
10% said 3,000 to 4,999 square feet
2% said 5,000 or more
Happy to report a little fun information.
Renée
48% said 1,000 to 1,999 square feet
29% said 2,000 to 2,999 square feet
12% said less than 1,000
10% said 3,000 to 4,999 square feet
2% said 5,000 or more
Happy to report a little fun information.
Renée
Monday, March 14, 2011
Statistics for February 2011
The TAR MLS monthly Statistics are out for February 2011.
Total sales volume increased significantly from $130,258,440 in the month of January to $160,319,228 in the month of February which is an increase of just over 23%!
The average Sales Price also rose 9.22% from January
The average List Price is up 8.43% from January to $191,957
The total number of listings Under Contract increased 12.8% from January
Total Unit Sales rose 12.69% from 780 in the month of January to 879 for the month of February
Total Unit Sales is up 18.62% compared to January of 2010
The Median Sales Price went up from $134,250 in January to $137,000 in February for an increase of just over 2%
The number of homes going under contract for the month of February is the highest it has been since September of 2010.
The price range with the highest amount of inventory is $1,000,000 and over followed by $750,000-$999,999.
The price range with the lowest inventory is $100,000-$124,999 followed by $125,000-$149,999.
It is easy to see from the data above our market has turned around in every area. Although the climb out is never a straight one, there will be small ups and downs along the way, be ready for a wonderful 2011.
And if you are a buyer I would suggest making your move soon while prices are interest rates are still low.
Give me a call I would love to help you.
Renée 465-0301
Total sales volume increased significantly from $130,258,440 in the month of January to $160,319,228 in the month of February which is an increase of just over 23%!
The average Sales Price also rose 9.22% from January
The average List Price is up 8.43% from January to $191,957
The total number of listings Under Contract increased 12.8% from January
Total Unit Sales rose 12.69% from 780 in the month of January to 879 for the month of February
Total Unit Sales is up 18.62% compared to January of 2010
The Median Sales Price went up from $134,250 in January to $137,000 in February for an increase of just over 2%
The number of homes going under contract for the month of February is the highest it has been since September of 2010.
The price range with the highest amount of inventory is $1,000,000 and over followed by $750,000-$999,999.
The price range with the lowest inventory is $100,000-$124,999 followed by $125,000-$149,999.
It is easy to see from the data above our market has turned around in every area. Although the climb out is never a straight one, there will be small ups and downs along the way, be ready for a wonderful 2011.
And if you are a buyer I would suggest making your move soon while prices are interest rates are still low.
Give me a call I would love to help you.
Renée 465-0301
Wednesday, March 9, 2011
Did you know...
In 2009 Tucson MLS agents did:
39% …. 0 Transactions
21% …. 1 Transaction
27% …. 2-5 Transactions
8.5% …. 6-10 Transactions
4.5% …. 11+ Transactions
In 2010 Tucson MLS agents did:
45% …. 0 Transactions
12.5% …. 1 Transaction
20.3% …. 2-5 Transactions
10.3% …. 6-10 Transactions
11% …. 11+ Transactions
When you are looking for an agent to represent you in a real estate transaction (a purchase or a sale) you want someone with experience! Ask them how many sales (transactions) they had last year. Or you can just call me. :)
Not all agents are created equal and you deserve someone who is committed to real estate as their primary, full time career. I have been selling real estate in Tucson for over 11 years and it IS my full time career. I am here to serve you.
Renée
39% …. 0 Transactions
21% …. 1 Transaction
27% …. 2-5 Transactions
8.5% …. 6-10 Transactions
4.5% …. 11+ Transactions
In 2010 Tucson MLS agents did:
45% …. 0 Transactions
12.5% …. 1 Transaction
20.3% …. 2-5 Transactions
10.3% …. 6-10 Transactions
11% …. 11+ Transactions
When you are looking for an agent to represent you in a real estate transaction (a purchase or a sale) you want someone with experience! Ask them how many sales (transactions) they had last year. Or you can just call me. :)
Not all agents are created equal and you deserve someone who is committed to real estate as their primary, full time career. I have been selling real estate in Tucson for over 11 years and it IS my full time career. I am here to serve you.
Renée
Monday, February 28, 2011
Have your Portrait done and help a good cause!
Bring the family out April 9th to Reid Park for your “mini” portrait sessions of 20-30 minutes. The cost is $75 to participants, and you will receive an 8X10 and 2 5X7’s. In addition there will be other products and prints available at discounted rates exclusively for participants.
Remember this is a fundraiser to raise money for new discoveries in childhood cancer. All proceeds will directly benefit the Layla Grace Children’s Cancer Research Foundation.
Registration begins next Monday, March 7th
Book your session with Shannon Karczewski of Shanka Photography!
http://laylagrace.org/get-involved/fundraising-events/2nd-annual-portrait-party/
Have a beautiful day.
Remember this is a fundraiser to raise money for new discoveries in childhood cancer. All proceeds will directly benefit the Layla Grace Children’s Cancer Research Foundation.
Registration begins next Monday, March 7th
Book your session with Shannon Karczewski of Shanka Photography!
http://laylagrace.org/get-involved/fundraising-events/2nd-annual-portrait-party/
Have a beautiful day.
Saturday, February 19, 2011
New Listing in the heart of the Foothills
I am pleased to present a new listings that is beautiful and inspiring.
Elegantly appointed custom 3508 square foot 4bedroom, 3 bathroom Giachetti home in prestigious gated Bellas Catalinas Estates. Situated on a ridge top 1.5+ acre private lot you will enjoy sensational panoramic views from every window opening to the natural luxury of Saguaros, wildlife, & mind blowing Catalina views. Interior appointments feature warm, rich tones of hardwood floors, 14' floor to ceiling custom crafted bookshelves & plantation shutters for quiet serenity in the formal living & dining rooms. Spacious gourmet kitchen boasts brand name SS appliances with Sub zero fridge, Miele dishwasher, granite tile counters, 5 burner gas range, brushed chrome hardware, 42'' cherrywood cabinets and center island for the entertainer in you! A MUST see, with grand master suite & bath w/canterra stone accents. Dramatic flagstone wrap around patios, salt water pool & spa, & fire bar will grab your buyer's attention. Reverse osmosis, water softener are great added features. This home is breathtaking and everything you could ask for in the heart of the foothills. Offered at $1,050,000
Call me for your private showing or if you know someone who would love to see this outstanding home.
MLS#21105518
465-0301
Elegantly appointed custom 3508 square foot 4bedroom, 3 bathroom Giachetti home in prestigious gated Bellas Catalinas Estates. Situated on a ridge top 1.5+ acre private lot you will enjoy sensational panoramic views from every window opening to the natural luxury of Saguaros, wildlife, & mind blowing Catalina views. Interior appointments feature warm, rich tones of hardwood floors, 14' floor to ceiling custom crafted bookshelves & plantation shutters for quiet serenity in the formal living & dining rooms. Spacious gourmet kitchen boasts brand name SS appliances with Sub zero fridge, Miele dishwasher, granite tile counters, 5 burner gas range, brushed chrome hardware, 42'' cherrywood cabinets and center island for the entertainer in you! A MUST see, with grand master suite & bath w/canterra stone accents. Dramatic flagstone wrap around patios, salt water pool & spa, & fire bar will grab your buyer's attention. Reverse osmosis, water softener are great added features. This home is breathtaking and everything you could ask for in the heart of the foothills. Offered at $1,050,000
Call me for your private showing or if you know someone who would love to see this outstanding home.
MLS#21105518
465-0301
Monday, February 14, 2011
Happy Valentines Day
Everything you love is what makes a life worth living. Take a moment, away from what you are working on, and make a list of all the things you love. Don't edit yourself; don't worry about prioritizing or anything of that sort. Simply think of all the things you love. Whether it's the people in your life or the things that bring you joy or the places that are dear to you or your God. You could not love them if you did not have a heart. Loving requires a heart that is alive, awake and free.
"A life filled with loving is a life most like the one we were intended to live from the beginning."
Valentines Day is not just about your sweetheart but about all the people, places, things and moments we love in our life. Take some time today to recognize and honor this great love you have to give and open yourself to receive great love.
"A life filled with loving is a life most like the one we were intended to live from the beginning."
Valentines Day is not just about your sweetheart but about all the people, places, things and moments we love in our life. Take some time today to recognize and honor this great love you have to give and open yourself to receive great love.
Saturday, January 29, 2011
Recession, Recovery and Expansion TAR 2011 Summit
The Tucson Association of Realtors 2011 Summit was January 27th and I was fortunate to be able to attend.
The main presenter was Marshall Vest, Director of Economic and Business Research Center at the University of Arizona’s Eller College of Management. He is an authority on Arizona’s economy and is a consultant to a number of Arizona’s largest companies, Arizona’s Governor and Legislature, as well as a number of local governments. With 30 years heading the College’s Forecasting Project, Mr. Vest has authored over 175 articles on the economy. These forecasts are recognized as among the most accurate in the western states, and he is frequently quoted in both the local and national business press.
We also had a chance to hear from the Manager of the Town of Sahuarita, Jim Stahle; the Manager of the Town of Oro Valley, Jerene Watson; the Manager of the Town of Marana, Gilbert Davidson; and the Manager of the City of Tucson, Mike Letcher.
Each speaker shared their view on where our community is going and what they see for 2011.
The following is a re-cap.
According to Mr. Marshall Vest the US economy is in expansion mode. The recovery is over and nationally we have regained (or recovered) the loss and the GDP (Gross Domestic Product) is high. Although unemployment is still high and credit is still shrinking the national numbers are up and moving in a positive direction.
In 2005 the real GDP was 13.5 trillion dollars today that number is the same. Confirming that we are back to where we were in 2005. Further support of this is the growth in the real GDP for the last six quarters in a row. The expected growth rate is 2% to 3%.
Arizona’s economy however is just beginning its recovery. This recovery phase is predicted to last to 2013 followed by our expansion phase beginning end of 2013 beginning of 2014.
A quick look at our housing numbers. Presently we have an enormous inventory of vacant homes. In Arizona we have approximately 130,000 homes sitting vacant (where they once received mail and now have not for 90days or more) this is 4.9% of all houses. The normal rate is 1.5% of all homes are vacant.
Nearly half of all Arizona home owners are in a negative equity situation.
The number of foreclosures in Arizona placed us in the second highest state in the US. The highest number of foreclosures was in Nevada. In 2010 one in 17 homes received foreclosure notices which is 5.73%. However, this is down 4% from 2009. To give you some perspective on where Tucson sits within the state of Arizona, while AZ is the 2nd highest state in the nation for foreclosures Tucson is not even in the top 50 city’s for foreclosure. Las Vegas was the number one city in the nation for foreclosures with Phoenix as number two, Orlando, FL was number three and Ft. Lauderdale, FL was number four.
Tucson lost around 30,000 jobs during the recession however they are working hard to make those back up. The top three areas of industry that provide the most employment in Tucson are: 1. High Technology at 12%, 2. Tourism at 12% and 3. U of A at 12%
Retail sales were up in 2010 and are expected to grow 6-7% in 2011.
Tucson will continue to see modest improvements in our recovery in 2011 and this really accelerated in 2012 and 2013.
Investors are starting to come back into the market of home purchases with prices so low they consider this a time they cannot afford NOT to buy. As our inventory of vacant homes comes down new building will once again begin and that will be the jump start to our local economy.
If you would like to know more about the TAR 2011 Summit or hear more specifics on your area (Sahuarita, Oro Valley, Marana or Tucson) please give me a call. I’d love to meet with you and talk about the great things to come for Tucson over the next couple of years.
Thank you.
Renee
The main presenter was Marshall Vest, Director of Economic and Business Research Center at the University of Arizona’s Eller College of Management. He is an authority on Arizona’s economy and is a consultant to a number of Arizona’s largest companies, Arizona’s Governor and Legislature, as well as a number of local governments. With 30 years heading the College’s Forecasting Project, Mr. Vest has authored over 175 articles on the economy. These forecasts are recognized as among the most accurate in the western states, and he is frequently quoted in both the local and national business press.
We also had a chance to hear from the Manager of the Town of Sahuarita, Jim Stahle; the Manager of the Town of Oro Valley, Jerene Watson; the Manager of the Town of Marana, Gilbert Davidson; and the Manager of the City of Tucson, Mike Letcher.
Each speaker shared their view on where our community is going and what they see for 2011.
The following is a re-cap.
According to Mr. Marshall Vest the US economy is in expansion mode. The recovery is over and nationally we have regained (or recovered) the loss and the GDP (Gross Domestic Product) is high. Although unemployment is still high and credit is still shrinking the national numbers are up and moving in a positive direction.
In 2005 the real GDP was 13.5 trillion dollars today that number is the same. Confirming that we are back to where we were in 2005. Further support of this is the growth in the real GDP for the last six quarters in a row. The expected growth rate is 2% to 3%.
Arizona’s economy however is just beginning its recovery. This recovery phase is predicted to last to 2013 followed by our expansion phase beginning end of 2013 beginning of 2014.
A quick look at our housing numbers. Presently we have an enormous inventory of vacant homes. In Arizona we have approximately 130,000 homes sitting vacant (where they once received mail and now have not for 90days or more) this is 4.9% of all houses. The normal rate is 1.5% of all homes are vacant.
Nearly half of all Arizona home owners are in a negative equity situation.
The number of foreclosures in Arizona placed us in the second highest state in the US. The highest number of foreclosures was in Nevada. In 2010 one in 17 homes received foreclosure notices which is 5.73%. However, this is down 4% from 2009. To give you some perspective on where Tucson sits within the state of Arizona, while AZ is the 2nd highest state in the nation for foreclosures Tucson is not even in the top 50 city’s for foreclosure. Las Vegas was the number one city in the nation for foreclosures with Phoenix as number two, Orlando, FL was number three and Ft. Lauderdale, FL was number four.
Tucson lost around 30,000 jobs during the recession however they are working hard to make those back up. The top three areas of industry that provide the most employment in Tucson are: 1. High Technology at 12%, 2. Tourism at 12% and 3. U of A at 12%
Retail sales were up in 2010 and are expected to grow 6-7% in 2011.
Tucson will continue to see modest improvements in our recovery in 2011 and this really accelerated in 2012 and 2013.
Investors are starting to come back into the market of home purchases with prices so low they consider this a time they cannot afford NOT to buy. As our inventory of vacant homes comes down new building will once again begin and that will be the jump start to our local economy.
If you would like to know more about the TAR 2011 Summit or hear more specifics on your area (Sahuarita, Oro Valley, Marana or Tucson) please give me a call. I’d love to meet with you and talk about the great things to come for Tucson over the next couple of years.
Thank you.
Renee
Friday, January 21, 2011
Five New Year’s Resolutions for Improving your Home
The New Year is a popular time for resolutions, so why not add some ideas for improving your home.
1. Rid Your Home of Clutter.
If you're thinking about putting your home on the market, it's a known fact that homes with less clutter will sell faster. Go through your entire home, including the garage, and clear out anything that's no longer of use. You can even earn some money for your efforts by holding a garage sale or donating the items to charity.
2. Spring is for Cleaning.
When was the last time you did a real Spring cleaning? One where you cleaned behind the oven and fridge, or pulled the books out of the bookcases before dusting? Keep in mind that a good spring cleaning doesn't have to take place in one day, and it can start in winter, when you're inside due to the colder weather.
3. Deal with Roof "Issues".
Winter can wreak havoc on your home's roof, so early Spring is a good time to assess its condition. Loose or cracked roof tiles should be replaced, every 3 to 5 years a flat roof should be recoated and or low spots addressed and touched up, and the chimney should be thoroughly inspected.
4. Go with the Flow.
Plumbing is very important to both homeowners and homebuyers. Is the hot water hot enough? Do the showers have the perfect pressure? Does the toilet run longer than it should? Start paying attention to these "minor" issues and work to get them resolved.
5. Embrace the 21st Century.
Look around your home and determine where it may be reflecting its age. For instance, if you've got "pop-corn" ceilings, consider getting rid of them. It's a messy project, but it will improve the look and feel of your home and the value if you ever put your home on the market.
If you would like further tips or any more information on the above please feel free to call or email me anytime. I would love to help!
Renee
1. Rid Your Home of Clutter.
If you're thinking about putting your home on the market, it's a known fact that homes with less clutter will sell faster. Go through your entire home, including the garage, and clear out anything that's no longer of use. You can even earn some money for your efforts by holding a garage sale or donating the items to charity.
2. Spring is for Cleaning.
When was the last time you did a real Spring cleaning? One where you cleaned behind the oven and fridge, or pulled the books out of the bookcases before dusting? Keep in mind that a good spring cleaning doesn't have to take place in one day, and it can start in winter, when you're inside due to the colder weather.
3. Deal with Roof "Issues".
Winter can wreak havoc on your home's roof, so early Spring is a good time to assess its condition. Loose or cracked roof tiles should be replaced, every 3 to 5 years a flat roof should be recoated and or low spots addressed and touched up, and the chimney should be thoroughly inspected.
4. Go with the Flow.
Plumbing is very important to both homeowners and homebuyers. Is the hot water hot enough? Do the showers have the perfect pressure? Does the toilet run longer than it should? Start paying attention to these "minor" issues and work to get them resolved.
5. Embrace the 21st Century.
Look around your home and determine where it may be reflecting its age. For instance, if you've got "pop-corn" ceilings, consider getting rid of them. It's a messy project, but it will improve the look and feel of your home and the value if you ever put your home on the market.
If you would like further tips or any more information on the above please feel free to call or email me anytime. I would love to help!
Renee
Thursday, January 13, 2011
Remodel Trends for 2011
After the demanding economic times of the past few years, it's not surprising to see homeowners choosing projects that evoke feelings of comfort. People are also going out less and entertaining at home more, so improvements that increase the usability of available space are popular.
1. The Zen-Like Bathroom
The 'bathroom as spa' (aka, 'hideout from daily life') has been a trend for years and is still going strong. Luxurious elements such as Jacuzzi tubs, steam showers, and dual showerheads add to the effect. According to some designers, rectangular sinks are gaining ground, as are larger-sized tiles for flooring. Wood-based elements reminiscent of actual spas are also being seen more frequently.
Tip: Think of ways to incorporate as much technology as possible, for example, by installing a flat screen TV for the bath.
2. Warm, Muted Colors
Experts predict that warm neutrals will continue to be popular this year, along with the creams, beige, and mushroom colors that until recently were more common in higher end homes. However, you'll also notice a surprising blend of cool and warm colors added to the mix.
According to HGTV the color of the month for January is Pantone’s Silver Peony.
Tip: When considering resale, it's usually safer to choose a color that doesn't make a huge statement.
3. Open, Informal Kitchens
The kitchen is still the heart of the home, and it's a place where great feel should meet functionality. Today's home buyers overwhelmingly choose kitchens that are open to a gathering place such as a family room, so remember to think 'flow,' and try to envision several people cooking and guests mingling when you consider floor plans.
Kitchen flooring these days is frequently tile, especially ceramic tile or natural stone tile such as honed Travertine. Hardwood is also a popular choice, although more subject to water damage, and granite and quartz are still very popular materials for countertops. Soapstone is another countertop option that is gaining a solid following, although it requires a little more care.
Tip: When remodeling a kitchen, remember to preserve (or create) enough counter and cupboard space. Above all, a kitchen needs to be functional!
4.Outdoor Entertaining
The trend of turning outdoor spaces into entertaining areas has gained enormous popularity over the past few years, especially here in Tucson where we have great weather year round. Installing an outdoor cooking area, fireplace, and electronic entertainment (or at least wiring for it) will allow the space to retain its value and functionality for years to come.
Tip: Envision how you anticipate using the space, not just now, but in five or ten years.
If you'd like more information or if you would like me to take a look at your home for ideas and tips on getting the highest value for your improvements in resale, please give me a call. I’d love to meet with you.
Renee
1. The Zen-Like Bathroom
The 'bathroom as spa' (aka, 'hideout from daily life') has been a trend for years and is still going strong. Luxurious elements such as Jacuzzi tubs, steam showers, and dual showerheads add to the effect. According to some designers, rectangular sinks are gaining ground, as are larger-sized tiles for flooring. Wood-based elements reminiscent of actual spas are also being seen more frequently.
Tip: Think of ways to incorporate as much technology as possible, for example, by installing a flat screen TV for the bath.
2. Warm, Muted Colors
Experts predict that warm neutrals will continue to be popular this year, along with the creams, beige, and mushroom colors that until recently were more common in higher end homes. However, you'll also notice a surprising blend of cool and warm colors added to the mix.
According to HGTV the color of the month for January is Pantone’s Silver Peony.
Tip: When considering resale, it's usually safer to choose a color that doesn't make a huge statement.
3. Open, Informal Kitchens
The kitchen is still the heart of the home, and it's a place where great feel should meet functionality. Today's home buyers overwhelmingly choose kitchens that are open to a gathering place such as a family room, so remember to think 'flow,' and try to envision several people cooking and guests mingling when you consider floor plans.
Kitchen flooring these days is frequently tile, especially ceramic tile or natural stone tile such as honed Travertine. Hardwood is also a popular choice, although more subject to water damage, and granite and quartz are still very popular materials for countertops. Soapstone is another countertop option that is gaining a solid following, although it requires a little more care.
Tip: When remodeling a kitchen, remember to preserve (or create) enough counter and cupboard space. Above all, a kitchen needs to be functional!
4.Outdoor Entertaining
The trend of turning outdoor spaces into entertaining areas has gained enormous popularity over the past few years, especially here in Tucson where we have great weather year round. Installing an outdoor cooking area, fireplace, and electronic entertainment (or at least wiring for it) will allow the space to retain its value and functionality for years to come.
Tip: Envision how you anticipate using the space, not just now, but in five or ten years.
If you'd like more information or if you would like me to take a look at your home for ideas and tips on getting the highest value for your improvements in resale, please give me a call. I’d love to meet with you.
Renee
Monday, January 3, 2011
Happy New Year!
Happy New Year to everyone. It is the first Monday of the new year and most of us are back to our routines. Remember to follow your heart and take time to love and laugh this year and let’s all make it a great 2011!
Your personal Realtor, Renee
Be always at war with your vices, at peace with your neighbors, and let each New Year find you a better person. ~Benjamin Franklin
Your personal Realtor, Renee
Be always at war with your vices, at peace with your neighbors, and let each New Year find you a better person. ~Benjamin Franklin
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