Archive for November, 2014

Tucson Real Estate Market Ripe for Purchasing

Monday, November 24th, 2014

After years of downturn, Tucson is beginning to come out of the morass which was the real estate market. 2015 is projected to be a year when the market should appreciate at a normal rate. Most of the foreclosures and short sales will have been sold or auctioned off.

But, we still are influenced by those buyers from other parts of the country who live in judicial foreclosure states. They are about three years behind Arizona and distressed inventory is weighing down their markets.

Potential buyers from those states who are considering a move to Tucson may be hemmed in by lower prices just as we were three years ago and therefore be unable to purchase now.

The average price of a home in Tucson went from $202,342 in December 2013 to $210,454 in October this year.

The median price rose a bit more than 4% from $159,900 to $166,500. Sales statistics are a lagging indicator since they are one month in arrears. The numbers for December 2013 reflect what transpired in November since closing takes approximately 30 days. Seasonal adjustments must also be considered, the normal drop off in sales during the winter holidays when people are celebrating and not thinking about selling their home.

Banks are talking about raising rates and if that happens, buyers may come out of the woodwork to take advantage of their ability to buy more home for the same amount of money. Housing prices have not escalated considerably and the market generally has been quiet.

If you are thinking about purchasing a new home, this is the time. Builders have inventory on hand and especially with spec homes, buyers can take advantage of incentives which include lower interest rates for the loan life. Call me and we can discuss what is out there and where it is located in proximity to your lifestyle. And take advantage of 2014 fiscal year tax deductions.

Tucson’s Premier Bike Race…El Tour De Tucson!

Thursday, November 20th, 2014

Bicyclists from the world arrive in Tucson, land of saguaro cacti, beautiful mountain ranges, blue and sunny skies, ready for Saturday’s event, the annual El Tour de Tucson, always held the Saturday before Thanksgiving.  Tucson is well known as a bicycle friendly city and has won the Gold Award and is striving for the Platinum Award.

While Buffalo, a town accustomed to snow, is laden with more than six feet of the white stuff and much of the nation is suffering temperatures far below normal for this time of year, volunteers for El Tour de Tucson are getting their last minute instructions for the 104 mile bicycle ride through Pima County where temps should be in the high 60’s, a comfortable ride for bicyclists pedaling their best.

El Tour de Tucson has four rides: the most strenuous is 104 miles, a 75 miles ride, and a 55 mile ride, and finally a 40 mile ride. This is a city wide event and some streets are closed off to motorists.

The route transverses the city from the south to the east to the north to the west and then back down south to the start place.

Along the route, contingencies of people cheer for their favorite riders. People set up water and snack stations for bicyclists along the shoulders of “country roads”. Police in their orange vests direct traffic … the motto- packs of bicyclists first.

More than 9,000 cyclists are expected for the event and 2600 volunteers will be available to assist cyclists. A full program and schedule of events is at http://www.perimeterbicycling.com/

People planning to travel within the city on Saturday should check the route map on the above web site and plan their travels accordingly. It is easy to be held up for 10-15 minutes when cyclists are crossing major intersections.

Stately saguaros from their hilly perches stand at attention for those who brave the trek on what promises to be a beautiful, warm, Tucson November day!