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Tucson Catalina Foothills Estates

September 9, 2010 By Administrator

Catalina Foothills Estates, a convenient Foothills Community

In the current Tucson Real Estate Market, some areas have been more effected than others. Catalina Foothills has seen its share of Foreclosures and Short sales with home sale devaluations also part of the equation.

If you happen to be  looking however for a home right now in the Catalina Foothills Estates area, you will find low inventory and very few homes that meet the need of a buyer who is looking for either the Historic Joesler home, or for the Tucson Territorial Adobe home.

However we are going to provide a list of home currently for sale in the Tucson Catalina Foothills Estates area,so that you can see for yourself the wide price margin of homes and the homes that are available right now on the market.

Showing properties 1 - 5 of 11. See more Catalina Foothills Estates tract real estate.
(all data current as of 9/9/2010)

  1. 5 beds, 3 full, 3 part baths
    Size: 4,557 sq ft
    Lot size: 36,590 sq ft
    Year built: 2006
    Parking spots: 4
    Days on market: 10
  2. 4 beds, 2 full, 1 part baths
    Size: 2,770 sq ft
    Lot size: 43,560 sq ft
    Year built: 1997
    Parking spots: 6
    Days on market: 32
  3. 4 beds, 2 full, 2 part baths
    Size: 3,909 sq ft
    Lot size: 3.09 ac
    Year built: 1964
    Parking spots: 6
    Days on market: 35
  4. 4 beds, 2 full, 1 part baths
    Size: 3,405 sq ft
    Lot size: 1.03 ac
    Year built: 2000
    Parking spots: 6
    Days on market: 49
  5. 5 beds, 1 full, 3 part baths
    Size: 4,003 sq ft
    Lot size: 4.60 ac
    Year built: 1953
    Parking spots: 4
    Days on market: 50

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Anne and Eddie McKechnie

Realtor Consultant

2890 E Skyline Drive, Ste 250

Tucson Z 85718

http://thetucsonexperts.com

Filed Under: Tucson Neighborhoods, Tucson Real Estate Blog, Tucson Real Estate Market

Which Model Is More Accurate : The Case-Shiller Index Or The Home Price Index?

September 9, 2010 By Administrator Leave a Comment

Home Price Index from April 2007 peak

The private-sector Case-Shiller Index reported home values up 5 percent nationwide in June. The government’s own Home Price Index, however, reached a different conclusion.

According to the Federal Home Finance Agency, month-to-month home values fell 0.3 percent in June, and values are down by 1.7 percent from June 2009.

So, as a home buyer and/or homeowner in tucson , by which valuation model should you make your bets?  Perhaps neither.

This is because both the Case-Shiller Index and the Home Price have inherent methodology flaws, the most glaring of which is their respective sample sets.

The Case-Shiller sample set, for example, comes from just 20 cities across the country — and they’re not even the 20 most populated cities. Together, the Case-Shiller cities represent just 9 percent of the overall U.S. population.

That’s hardly representative of the housing stock overall.

By comparison, the Home Price Index tracks home sales everywhere — every city in every state — but it specifically excludes certain properties.  The Home Price Index does not track sales of homes for which the financing comes from agencies other than Fannie Mae or Freddie Mac. This means that as FHA loans grow in popularity, the pool of Home Price Index-eligible homes is reducing.

The HPI ignores homes backed by “jumbo” loans, too.

Therefore, the “right” model for home values cannot come from national data at all — it can only come locally. Neither Case-Shiller nor the government has the tools to get as granular as a neighborhood like catalina foothills. A real estate agent in the area does, however.

The best way to get a pulse for what’s happening in markets right now is to talk to somebody with good data.

Anne and Eddie McKechnie

Realtor Consultant

2890 E Skyline Drive, Ste 250

Tucson, Az, 85718

http://thetucsonexperts.com

(520)529-7507

Filed Under: Home Values, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Case-Shiller Index, Home Price Index, HPI

How To Change A Showerhead

September 7, 2010 By Administrator Leave a Comment

There’s plenty of reasons to want to change a showerhead in your head. Perhaps you’re trying to fix a leak in the faucet; or, remodeling your bathroom; or, trying to conserve water via a low-flow showerhead.

Whatever the reason, changing a showerhead can be a basic do-it-yourself project. The tools aren’t complicated and the job is a quick one.

In this 2-minute video from AOL, you’ll learn:

  • What tools you’ll need to change the showerhead
  • How to remove your old showerhead
  • How to firmly attach your new showerhead to prevent leaks

If you get stuck, or just want to outsource, call a professional handyman to finish the job. Changing a showerhead should take less than a hour to complete.

Anne and Eddie McKechnie

Realtor Consultant

2890 E Skyline Drive, Ste 250

Tucson, Az, 85718

http://thetucsonexperts.com

(520)529-7507

Filed Under: Home How-To, Tucson Real Estate Blog Tagged With: Bathroom, DIY

August 2010 Jobs Report Pushes Mortgage Rates Higher

September 3, 2010 By Administrator Leave a Comment

Net Job Gains Sept 2008-August 2010On the first Friday of each month, the Bureau of Labor Statistics releases Non-Farm Payrolls data for the month prior.

The data is more commonly called “the jobs report” and it’s a major factor in setting mortgage rates for residents of arizona and homeowners everywhere. Especially today, considering the economy.

This is because, although it’s believed that the recession of 2009 is over, there’s emerging talk of new recession starting.

Support for the argument is mixed:

  1. Job growth has been slow, but planned layoffs touch a 10-year low
  2. Consumer confidence is down, but beating expectations
  3. Consumer spending is weak, but not declining

In other words, the economy could go in either direction in the latter half of 2010 and the jobs market may be the key. More working Americans means more paychecks earned, more taxes paid, and more money spent; plus, the confidence to purchase a “big ticket” items such as a home.

Jobs growth can provide tremendous support for housing, too.

Today, though, jobs growth was “fair”. According to the government, 54,000 jobs were lost in August, but that reflects the departure of 114,000 Census workers.  The private sector (i.e. non-government jobs), by contrast, added 67,000.

In addition, net new jobs was revised higher for June and July by a total of 123,000.  That’s a good-sized number, too.

Right now, Wall Street is reacting with enthusiasm, bidding up stocks at the expense of bonds — including mortgage-backed bonds.  This is causing mortgage rates to rise.  Rates should be higher by about 1/8 percent this morning

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: Jobs, Tucson Real Estate Blog Tagged With: Jobs, Non-Farms Payroll

August’s Fed Minutes Lead Mortgage Rates Higher

September 2, 2010 By Administrator Leave a Comment

FOMC August 2010 MinutesHome affordability took a slight hit this week after the Federal Reserve’s release of its August 10 meeting minutes.

The “Fed Minutes” is a lengthy, detailed recap of a Federal Open Market Committee meeting, not unlike the minutes published after a corporate conference, or condo association gathering. The Federal Reserve publishes its meeting minutes 3 weeks after a FOMC get-together.

The minutes are lengthy, too.

At 6,181 words, August’s Fed Minutes is thick with data about the economy, its current threats, and its deeper strengths. The minutes also recount the conversations that, ultimately, shape our nation’s monetary policy.

It’s for this reason that mortgage rates are rising. Wall Street didn’t see much from the Fed that warranted otherwise.

Among the Fed’s observations from its minutes:

  • On the economy : The recession was deeper than previously believed
  • On jobs : Private employment is expanding slowly
  • On housing : The market was “quite soft” in June

Now, none of this was considered “news”, per se. If anything, investors were expecting for harsher words from the Fed; a bleaker outlook for the economy. And, because they didn’t get it, monies moved to stocks and mortgage bonds lost.

That caused mortgage rates to rise.

The Fed meets 8 times annually. Its next meeting is scheduled for September 21, 2010.  Until then, mortgage rates should remain low and home affordability should remain high. There will be ups-and-downs from day-to-day, but overall, the market is favorable.

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: FOMC, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Fed Minutes, FOMC, tucson mortgages, Tucson Real Estate Market

Case-Shiller Posts 16th Straight Month Of Home Price Improvement

September 1, 2010 By Administrator Leave a Comment

Case-Shiller Change In Home Values May-June 2010

According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier.  It’s the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results.

That said, homeowners and home buyers in tucson would do well to temper Case-Shiller enthusiasm. The June figures are issued on 60-day delay and, over the last 60 days, housing data has been lackluster at best.

Stories like these highlight a key weakness of the Case-Shiller Index — it’s out of date as soon as it’s published. Because of this, the Case-Shiller Index relevance to everyday Americans is muted. People don’t buy homes in the “60 days ago” real estate market, after all.

June is ancient real estate history to buyers and sellers in sam hughes.

However, the Case-Shiller Index does have its place. As the most widely-followed, private-sector housing tracker, the index is used to help make policy decisions and to shape Wall Street’s expectations of the economy. This means that a strong Case-Shiller reading can cause mortgage rates to rise, and a weak Case-Shiller reading can cause rates to fall.

Tuesday, mortgage rates fell.

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: Case-Shiller Index, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Case-Shiller Index, Home Values, tucson mortgages, tucson real estate

Mortgage Rates May Be Low, But They’re Tough To Pin Down — Especially This Week

August 31, 2010 By Administrator Leave a Comment

Vacation days contribute to jumpy mortgage rates

Mortgage rates are low right now but pinning them down this week could be a challenge. As Labor Day Weekend nears and Wall Streeters take their head-start on the holiday, trading volume will fall, which will cause mortgage rates in arizona to get jumpy.

As mortgage rates change, so does the long-term cost of owning a home. Every 1/8 percent adjustment changes a household budget.

Meanwhile, the relationship between “vacation days” and mortgage rate volatility is an interesting one; based more in scarcity than market fundamentals.

Rates tend to get volatile near holidays because of two inter-related facts:

  1. Conforming mortgage rates are based on the price of mortgage-backed bonds
  2. Mortgage-backed bonds can’t trade without a buyer and a seller at a specific price

So, as the week progresses and more traders leave for their respective “extended” 3-day weekends, there’s fewer buyers and sellers left on Wall Street to connect for a trade.  As a result, mortgage bond prices move across larger gaps than on a “normal” day which, in turn, translates into faster, larger changes in rates.

This phenomenon can be exaggerated during periods of economic uncertainty — like what we’re in now — and, furthermore, there’s a bevy of important data set for release this week including the FOMC Minutes, inflation data, and August jobs figures.

In other words, rates would have been volatile without the vacation week. The presence of Labor Day just piles on.

Mortgage rates may rise this week, or they may fall.  Either way, if you have a chance to lock something favorable and within your budget, consider doing it.  Rates are at all-time lows and likely won’t last.

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: Mortgage Rates, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Holidays, Mortgage Rates

How To Reduce Home Energy Costs By Sealing Air Leaks

August 30, 2010 By Administrator Leave a Comment

Air leaks With Labor Day looming, the autumn and winter months aren’t far behind. It’s a good time to reflect on your home’s heating and cooling costs, and take steps to lower your energy bills. Finding air leaks may be a perfect first project.

According to the U.S. Department of Energy, up to 30 percent can be cut from a home’s energy costs just by reducing drafts. For example, a 1/16-inch gap unsealed gap around a window is equivalent to leaving the window 3 inches open.

That’s a lot of wasted oro valley air.

The good news is that air leaks are rather simple to identify, and simple to fix. The key is to know where to look. And, to make the job easier, the government offers a complete DIY Guide To Sealing and Insulating a home.

Some of the key tips include:

  • Focus on the attic and basement, where most air is lost
  • Locate problem areas on a chimney
  • Check recessed lights which allow air flow between conditioned and unconditioned air

The government’s website also provides a 13-page PDF with detailed images, instructions, and recommendation to help you with the work.

However, if the job is beyond your skill set, be sure to call a qualified contractor. Sealing your home from air leaks will reduce your monthly energy bill and the money spent to pay a professional will be just a fraction of what you’ll save over time.

(Image courtesy: US Department of Energy)

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: Home How-To, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Air Leaks, Department of Energy, DIY

Home Affordability Rankings For 225 Metropolitan Statistical Areas

August 27, 2010 By Administrator Leave a Comment

Home Affordability - Top and Bottom 5 markets 2010 Q2

With home prices holding firm and mortgage rates still dropping, home affordability is reaching new heights.

According to the quarterly Home Opportunity Index as published by the National Association of Home Builders, more than 72 percent of all new and existing homes sold between April-June 2010 were affordable to families earning the national median income.

It’s a slightly higher reading as compared to last quarter, and the second highest reading in the survey’s history.

As with all aspects of real estate, however, home affordability varies by locale.

For example, 97.2% of homes sold in Syracuse were affordable for families making the area’s median income, earning the New York city its first “Most Affordable Major City” designation.  Indianapolis was the first quarter winner.

On the opposite end of the spectrum, the “Least Affordable Major City” title went to the New York-White Plains, NY-Wayne, NJ area for the 9th consecutive quarter.  Just 19.9% of homes are affordable to families earning the local median income, down 1 percent from last quarter.

The rankings for all 225 metro areas are viewable on the NAHB website but regardless of where you live, buying a home is as affordable as it’s ever been in history. Furthermore, because home values are in recovery and mortgage rates may rise, the market is ripe for home buyers in catalina foothills.

All things equal, buying a home may never be this inexpensive again. If you were planning to purchase later this year, you may want to move up your time frame.

Anne and Eddie McKechnie

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Filed Under: Home Values, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Home Opportunity Index, NAHB, tucson home affordability, Tucson Real Estate Market

Existing Home Sales Plummet Nationally In July; Home Buyers Gain Leverage

August 25, 2010 By Administrator Leave a Comment

Existing Home Sales July 2009 - July 2010The number of home resales plunged by 1.4 million units in July, according to the National Association of Realtors®’ Existing Home Sales report.

It’s a drop of 27 percent from June; single-family home resales are at the report’s lowest levels since May 1999.

Furthermore, because of the sharp drop in sales volume, home inventories are spiking.

Homes for sale nationwide fell just short of 4 million units in July and, at the current sales paces, it would take 12.5 months for the existing inventory to be absorbed.

Home supply was just 8.9 months in June.

For home sellers in tucson , the Existing Home Sales report is a bit of bad news.  Fewer sales and larger inventories put negotiation leverage in the hands of the buyers which, in turn, creates downward pressure on home prices.  It may also increase time-on-market.

For home buyers, however, the data is decidedly welcome. After a stimulus-driven spring buying season that favored sellers, the summer and early-fall market seem to favor buyers. More choices and more leverage is a positive.

It helps that home affordability is up, too.

Although there’s reports that home values are rising, their modest gains are more than countered by the ongoing rally in mortgage rates. Freddie Mac says that 30-year fixed rate mortgage rates are at their lowest levels in history and, at today’s rates, every one-eighth drop in mortgage rates roughly offsets a 1.5% increase to home price.

Mortgage rates are down 0.75 percent since mid-April.

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson, Az 85718

http://thetucsonexperts.com

Filed Under: Existing Home Sales, Tucson Real Estate Blog, Tucson Real Estate Market Tagged With: Existing Home Sales, Home Supply, Home Values
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The content of The Tucson Real Estate Blog is copywritten to Anne and Eddie McKechnie of Codwell Banker Residential Brokerage in Tucson ArizonaAll information deemed reliable, but not guaranteed