Tucson Home Sales data is now out for May 2008 and the figures have been counted. It is evident that we have seen an increase in home sales for the third month in a row. We also surpassed the May home sales of a 1000. 

However, we are at the end of the busy Season for Tucson Real Estate Sales, and it will be interesting to see if the market continues to thrive in the next few months.

Personally, we are busier than we have been for the last two to three years, but have been dealing with many Tucson Short Sales and Foreclosures. Many of these are affecting our average sales price in many areas. 

We are seeing home inventory moving in the new home market, and most of that data does not  report into the MLS. In talking to one new home sales agent for Richmond American Homes in Tucson, one subdivision in the Northwest has sold over 10 new homes just this last month.

Our numbers in the Tucson area continue to support the theory of a recovering market.

Our volume last month was 4.12% over April of 2008, and  Home Sales increased 5.34% over April.

The plus factor is that new listings decreased by 6.51% and active listings by 3.19%.

Average days on market is now overall 77 days and the ratio between sales price and list price is 95.34%.

The key will be too see how many more adjusting mortgages will hit the market in Tucson  the rest of this year in 2008, and how much percentage wise it will affect the home sales price in many areas.

June should be an interesting month to follow and see if the current trend holds up in Tucson.

We are asked many times about buying a second home but also a good Condo investment. As the market has slowed then one can find good deals in the Foothills right now. There are a few Complexes that are in a close out situation one being the Greens and the other  Skyline Villas.

If you are looking for a foothold in the Tucson Foothills Condo Market for a Second Home or Vacation Home,  then now is a great time to buy.

Skyline Villas Condos in the Tucson Foothills, have only 17 Condos left.

The Clubhouse Center has a  true Resort  feel and has a great community pool, and  tennis court.

Prices start in the mid 150,000's for the one bedroom floor plan. There are opportunities to personalize the unit with fine cabinetry, granite counter tops and stainless steel appliances. Most have large patios or balconies, and ample storage and closet areas. Great City and Mountain Views can be had from many Condos in the complex.

There are many pluses to the area, as there are collectively around 12 Restaurants to choose from just down the road, together with a high end mall for the most discerning buyer.

If you are looking for a Tucson Golfing Experience, then the Greens Condos are the place for you.

The Condos located in the Foothills Condo Community of the Greens have incredible views  from the inside.

When you look around inside, you will find Custom cabinetry, Ceramic Tile flooring, wood-burning Fireplaces, and Designer lighting fixtures.

Each individual Condo can be customized with the  an extensive list of options that include  a  mini home theater.

The Complex has two Community Pools, Tennis and you can drive your golf cart next door to the Ventana Canyon Golf & Raquet Club

Pool at the Greens Condos, Tucson Arizona

The remaining Condo prices are from around $215,00 to around $270,000. They still have some selection, together with some great views.

There are also a few good deals in the resale market.

Good reading  is to be had by reading  the latest real estate articles published by Market Watch in the San Francisco Bay area about  the National Real Estate market.

Top officials with the National Association of Realtors, and also Standard and Poors, which issue the S and P/Case Schiller Price Index, agreed that their monthly reports are giving imprecise information about  national and local market reports across the country and Arizona at all levels.  There are rare market conditional that are distorting the information and the results.

The NAR reported that medium market sales reduced 7. 7 % in March from a year ago, but the decline is largely an anomaly with a steep decline in costlier homes on the market and also increasing jumbo mortgage rates.This is also coupled with a foreclosure driven spike in cheaper homes.  

The producers of two of the most widely tracked indexes, acknowledged this fact publicly this week.

If sales are more common  in the lower end of the market, and there are fewer home sold in the higher end homes,  then the medium is bound to drop in a dramatic fashion as proposed by NAR Chief Economist Lawrence Yun.
In Tucson  and nationally, the jumbo market is frozen, and the buying activity is more focused on the lower value homes. Coupled with the fact that the FHA limit in Pima County was raised, then there is an incentive for those that did not have a down payment to make their home purchase now.

Conversely the S and P/ Case- Schiller Index had posted a 12.7% decline in February as it only tracks 20 major markets and many of those are among the hardest hit. Plus it only pulls in individual homes both bought and sold in the last few years.

Many of those as we know are distressed owners who bought and sold in the last few years, who are now facing adjustable ARMS and also bought at the peak of the market.
This may explain the misleading home value statistics that have been widely divergent of the US Economy as a whole.
The media has capitalized on the housing market as there are such discrepancies reported nationally that it makes one wonder who are you to believe.

To Quote " A University of Michigan survey incorporated in the U.S. Index of Leading Economic Indicators last week rang in at its lowest level since November 1982 –when the country was suffering through 10.8% unemployment and the worst recession since the Great Depression. "

"The Conference Board's closely tracked index Tuesday showed confidence falling in April to its lowest since the eve of the U.S. invasion of Iraq in March 2003."

Apparently, not one journalist that contacted Director Frank Tortorici's office  at Conference Board Communications on Tuesday, had inquired about the  astounding discrepancy.

I tend to agree with the NAR's Yun  that said that the financial media has seized on gloomy numbers and  is providing very  little analysis or historical perspective. Yun also  admitted that the  NAR's readings are not totally accurate in reflecting home values for the overwhelming majority of the American people. 
 
Media Sensationalism about  the National and the Tucson Real estate market

On Tuesday, the S&P/Case-Shiller Home Price Index reported a 12.7% decline for February  and that it was the largest drop since its creation in 2001. However the index has a limited seven-year history, and the Associated Press reported that home prices "plunged by a record" percentage and also "at their fastest rate ever."
The obvious  discrepancy however, is that  only 17 of the 20 metro areas posted record annual declines,  but  78% of the other  330 metropolitan regions that NAR tracks reported price increases in the latest period .

However the S&P Index Committee Chairman David Blitzer  has acknowledged their readings  have been painting an incomplete picture of the national real estate market.  To help clarify this they are now reporting price changes in 17 of the markets at three specific levels - low-, mid- and high-priced homes. This should provide a much clearer assessment of things in different price brackets.

If  a Tucson homeowners want to determine their property's value, it has never been more critical to have a professional compile a CMA of their home by recent sales in their neighborhood.  In Tucson pricing is definitely area sensitive. 
Read your local market conditions by consulting with a professional in your area to include a Licensed Realtor and also an Appraiser to help you determine the value of your home.

Today we were sent a list of inventory  new homes that are also getting a 5.5 % interest rate if you use the Builder's preferred Lender.

Currently available in their new home spec category are homes ranging in square footage from 1300 to over 2900 square ft.

The new homes also include upgrades such as granite counter tops and tile flooring with maple  or cherry cabinetry, and other great upgrades listed below.

Most are available for move in within the next 60 days and are great new homes for sale in a community that has a dog park, pecan trees,  a park, and a proposed swimming pool that will enhance the Community which is on the outskirts of Tucson

Feel free to call us at (520)529-7507 or visit our website  http://www.thetucsonexperts.com for more information.

Santa Barbara 1,328 sq ft home site 5,455 sq ft - 1 story, 3 bedroom, 2 bath, Dining room, Living room, covered patio, 2 car garage.
Price today$174,000 with $5,000 toward closing cost.

Aloe 1385 sq ft Home site 4,950 - 1 story, 3 bedrooms, 2 baths, Dining room, Living room, Nook, Covered patio, 2 car garage.
Price Toady$ 171,000 with $5,000 toward closing cost.

Monterrey 1727 sq ft homesite 5,268.- 1 story, 4 bedrooms, 2 bath, Living room, Dining room, Family room, Covered patio, 2 car garage.
Price today$181,000 with $5,000 toward closing cost.
 

Whitney 1955 sq ft Homesite 9,573.- 1 story, 3 bedrooms, 2 bath , Great room, Nook, covered patio , 2.5 Car garage.
Price Today $226,355 with $5,000 toward closing cost.

Gold Bullion 2,174 sq ft Homesite 15,190 sq ft - 1 story, 4 bedroom, 2 bath , Great room, Nook, Study, Covered patio, 2 car garage.
Price today$ 220,000 with $5,000 toward closing cost.
 

Gold bar 2,198 homesite 9,198 sq ft -1 story, 4 bedroom, 2 baths, Living room, Dining room, Nook, Family room, Covered patio, 3 car garage.
Price Today$ 226,750 with $5,000 toward closing cost.

Everest 2338 sq ft Homesite 10,173 sq ft - 1 story, 4 bedroom, 2 bath, Great room, Entertainment room, Nook, covered patio, 3 bay garage.
Price Today$255,080 with $5,000 toward closing cost. ECOE- 5/07/08 Everything you want. Everything you need package.

Gold Mine 2907 sq ft homesite 20,720 sq ft -2 stories, 4 bedroom, 3 baths, Living room, Dining room, Family room, Den, Covered patio, 3 garage.
Price Today$ 314,500 with $5,000 toward closing cost.

Everything you want. Everything you need package, Tucson new Home Package

GE appliance package with stainless steels finish.
Cherry cabinets 36" upper cabinets including crown molding, with 1 roll out in kitchen base cabinets.
Granite countertops with 4" back splash, stainless steal under mount sink.
Upgraded brushed nickel feature's throughout.
Raised height vanity in master bath.
6 panel fiberglass front door with glass insert.
Upgraded carpet with stain protection.
12" * 12" ceramic tile in entry, kitchen, laundry, master bath, and bath 2.
Round dry-wall corners at walls and windows.
Structured wiring with cat-5, high-speed wiring cable and RG-6 coaxial cable run to each bedroom, great room, family room, and living room per plan.
Security system and 6 months service included.
Pre-wired for ceiling fans in bedrooms, great room, family room, living room and covered patio.
Blown in insulation with rating of R-15 and ceiling insulation with rating r-38
Dual pane windows with low-E coating for increased energy efficiency.
40 gallon water heater.
Hi-low shelving in closet's and 5 stack in master.
Shelf in laundry.
Concrete roof tile.
Garage door opener including 2 remote's, key less entry and multifunction control panel.
Finished interior garage with hock and trowel, paint and baseboard's.
13 seer air conditioning.
Underground drip irrigation system with automatic time for front yard landscaping.
Tyvek house wrap.
Holiday light circuit.
And many more..

Just remember that offers, incentives and seller contributions are subject to certain terms, conditions and
restrictions which may include designated lenders and closing agents.

Lennar and US Home reserves the right to change or withdraw any offer at any time.
Prices subject to change without notice. ROC B065983

The Community will have a center named Centrale’ provides owners with gardens to stroll through on their way to private workout facilities, meeting rooms, tennis, swimming, indoor golf simulator, historical museum, and a world-class intimate restaurant

The director of the University of Arizona Science and Technology Park Marshall Warden, said a considerable amount of change is happening along Rita Road

The technology park which has been in existence for many years  is getting  a Target  distribution center and also  the American Canning Company, who took over the old SlimFast building, is working up to full operations in the area.

 In fact the university's science and technology park currently has 7,000 employees in the Rita Ranch area , and  the new  Target distribution center  will bring about 400 jobs when it opens next year.

Obviously with more jobs comes more traffic and it is expected to increase the traffic on Rita Road.

Also a  company called Global Solar is also anticipated  to open up for business just north of the railroad tracks.

KB Homes is also currently planning a new homes development near Kolb Road.

 An annexation agreement with the city of Tucson will allow them to build a four-lane public road that would connect to Kolb Road.

This will also eventually  connect the road to Rita Road.

In the future,  a golf course is also a possibility in the area, but that would be contingent on  the availability of effluent.

A hotel hotel and possibly restaurants and other commercial prospects are also being proposed in the area.

What part of  Tucson area do I want to live in, is hard to know when you are relocating to the area. Where are the conveniences, shops, restaurants, schools, hospitals  all located, and  also the prospect of ultimately finding the right Tucson home for your taste and also budget.

There are many websites that are great resources for your Tucson Relocation information.

The Tucson Visitor's Bureau provides a great Tucson Relocation informational site that addresses all facets of your relocation to the Tucson area.

When you are visiting the Tucson area for your Relocation experience, you can also go to Go-Arizona.com

This great site gives great information not only about relocating to Tucson about  local events but also sightseeing and things to do in the Tucson and surrounding area.

As Tucson Relocation Specialists and local area Real Estate Experts, we can assist you in your move to Tucson and help you find the home of your Dreams.

There are many styles of homes to chose from with a wide variety of local terrain in and around Tucson.

You can search for Tucson homes with our customized home search and save the homes to your search

Many world famous sprinters such as Shue Fly, Joe Reed ll, Piggin String, Hard Twist, Queenie, and Miss Panama have all run races a the Rillito.

An American Quarter Horse Hall of Fame inductee Melville Haskell, and Van Smelker, who later became head of the AQHA Performance Department, SAQHA experimented with grading races, weighted handicaps, futurities, derbies and stake races, and photo-electric timers at the Rillito Downs.