Homes for Sale in the Tanque Verde Valley

The amount of Home Listings have definitely gone down in the Northeast part of Tucson..

Inventory last year was up at over 16 months in the 85749 Zip Code,  and the days on market have now reduced to a more manageable 8 months.

Things can always change, and now is a great time to find a home on acreage in the Northeast which has always attracted those that love space, horses, and room to roam.

You can also pick up a good deal as there are some REO’s at good prices.

If you  would love to be close to the Catalina State Highway and the road to Mount Lemmon, then this is the area for you.

Here are a selection of new listings that just came on the market in the Northeast including REO’s…

Feel free to let us know your thoughts .

Showing properties 1 - 20 of 133. See more 85749 zip code real estate.
(all data current as of 2/9/2012)

1. $509,900 : 10649 E Sonoran Vista Trail, Tucson
   
   3 beds, 1 full, 1 part baths

   Home size: 2,683 sq ft

   Lot size: 1.60 ac

   Year built: 1999

   Parking spots: 2

   Days on market: 1

   Walk Score®: 5
2. $238,000 : 4530 N Harrison Road, Tucson
   
   4 beds, 1 full, 1 part baths

   Home size: 1,822 sq ft

   Lot size: 34,640 sq ft

   Year built: 1976

   Parking spots: 2

   Days on market: 1

   Walk Score®: 20
3. $339,000 : 5326 N Canyon Rise Place, Tucson
   
   4 beds, 1 full, 1 part baths

   Home size: 1,882 sq ft

   Lot size: 5,808 sq ft

   Year built: 2001

   Parking spots: 2

   Days on market: 2

   Walk Score®: 6
4. $425,000 : 3635 N Harrison Road, Tucson
   
   4 beds, 2 full, 1 part baths

   Home size: 2,555 sq ft

   Lot size: 1.07 ac

   Year built: 2003

   Parking spots: 3

   Days on market: 2

   Walk Score®: 8
5. $225,000 : 10333 E Rusty Spur Circle, Tucson
   
   3 beds, 1 full, 1 part baths

   Home size: 1,924 sq ft

   Lot size: 1.26 ac

   Year built: 1976

   Parking spots: 6

   Days on market: 3

   Walk Score®: 5
6. $269,000 : 2131 N Dusty Lane, Tucson
   
   3 beds, 1 full, 3 part baths

   Home size: 2,720 sq ft

   Lot size: 1.04 ac

   Year built: 2006

   Parking spots: 2

   Days on market: 5

   Walk Score®: 25
7. $399,900 : 11881 E Ponce De Leon, Tucson
   
   4 beds, 4 full baths

   Home size: 2,852 sq ft

   Lot size: 3.00 ac

   Year built: 1980

   Parking spots: 4

   Days on market: 6

   Walk Score®: 2
8. $865,000 : 5130 N Creosote Canyon Drive, Tucson
   
   4 beds, 3 full, 2 part baths

   Home size: 4,244 sq ft

   Lot size: 3.97 ac

   Year built: 2003

   Parking spots: 3

   Days on market: 6

   Walk Score®: 2
9. $349,000 : 12501 E Calle Talon, Tucson
   
   3 beds, 1 full, 1 part baths

   Home size: 2,280 sq ft

   Lot size: 33,977 sq ft

   Year built: 1980

   Parking spots: 2

   Days on market: 7

   Walk Score®: 22
10. $199,900 : 3621 N Tres Lomas, Tucson
    
    4 beds, 2 full baths

    Home size: 1,979 sq ft

    Lot size: 39,204 sq ft

    Year built: 1975

    Days on market: 9

    Walk Score®: 17
11. $399,900 : 9037 E Cottontail Way, Tucson
    
    4 beds, 3 full, 2 part baths

    Home size: 3,055 sq ft

    Lot size: 42,240 sq ft

    Year built: 1968

    Parking spots: 2

    Days on market: 10

    Walk Score®: 63
12. $285,000 : 2150 N Donner Avenue, Tucson
    
    3 beds, 1 full, 2 part baths

    Home size: 2,089 sq ft

    Lot size: 28,314 sq ft

    Year built: 1966

    Parking spots: 2

    Days on market: 12

    Walk Score®: 12
13. $439,900 : 11725 E Calle De Samuel, Tucson
    
    5 beds, 2 full, 1 part baths

    Home size: 3,072 sq ft

    Lot size: 1.29 ac

    Year built: 1988

    Parking spots: 2

    Days on market: 13

    Walk Score®: 6
14. $379,900 : 4632 N Avenida De Franelah, Tucson
    
    4 beds, 1 full, 1 part baths

    Home size: 2,558 sq ft

    Lot size: 1.15 ac

    Year built: 1979

    Parking spots: 2

    Days on market: 13

    Walk Score®: 3
15. $388,500 : 9867 E Baryte Place, Tucson
    
    4 beds, 2 full, 1 part baths

    Home size: 2,900 sq ft

    Lot size: 25,687 sq ft

    Year built: 1996

    Parking spots: 3

    Days on market: 14

    Walk Score®: 14
16. $299,000 : 9760 E Rock Ridge Court, Tucson
    
    4 beds, 3 full baths

    Home size: 2,613 sq ft

    Lot size: 11,326 sq ft

    Year built: 1996

    Parking spots: 2

    Days on market: 14

    Walk Score®: 9
17. $478,800 : 3898 N Camino Ojo De Agua, Tucson
    
    4 beds, 2 full, 2 part baths

    Home size: 3,118 sq ft

    Lot size: 3.31 ac

    Year built: 2006

    Parking spots: 3

    Days on market: 14

    Walk Score®: 3
18. $255,000 : 11131 E Glenn Street, Tucson
    
    4 beds, 1 full, 2 part baths

    Home size: 2,363 sq ft

    Lot size: 1.08 ac

    Year built: 1971

    Parking spots: 2

    Days on market: 15

    Walk Score®: 8
19. $425,000 : 4192 N Soldier Trail, Tucson
    
    4 beds, 2 full, 1 part baths

    Home size: 2,931 sq ft

    Lot size: 3.20 ac

    Year built: 1979

    Parking spots: 2

    Days on market: 16

    Walk Score®: 6
20. $409,900 : 12140 E Snyder Road, Tucson
    
    3 beds, 2 full, 1 part baths

    Home size: 2,500 sq ft

    Lot size: 43,560 sq ft

    Year built: 1979

    Parking spots: 2

    Days on market: 16

    Walk Score®: 2

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

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E  Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Tucson Renovated Homes are on the rise

Tucson Foreclosures and Short Sales are obviously hard to see in the Tucson market, but the big plus is reduced home pricing and also investor renovations.

The amount of renovated older homes have actually increased in the market place, and there are a good selection of homes that are redone with nice new kitchens and bathrooms and flooring.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

It is a great time to buy a home in Tucson while interest rates are still low,  homes are being bought by investors who are renovating older homes, and home prices in Tucson are still very affordable.

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E Skyline Drive , Ste 250

Tucson , Az 85718

http://thetucsonexperts.com

Cell(520)529-7507

Tucson Homesbuilders  is our New home Market Picking up?

Homebuilders are optimistic about the housing market this spring, relative to recent months.

According to the monthly Housing Market Index as published by the National Association of Homebuilders, after 4 straight months of reading 16, March homebuilder confidence ticked 1 point higher to 17.

It’s the highest confidence reading in 10 months.

A value of 50 or better indicates “favorable conditions” for home builders; with more builders viewing sales conditions as “good” than “poor”.

HMI hasn’t read higher than 50 since April 2006.

Regionally, the Housing Market Index showed mixed results. Confidence fell 1 point in the Northeast, held firm in the Midwest, and rose in the Southeast and West regions by 2 points and 4 points, respectively.

As an index, the monthly survey is actually a composite of three separate homebuilder surveys — a report on single-family sales; a report on current buyer foot traffic; and a projection for single family sales in the next 6 months.

March’s HMI breakdown shows that builders expect sales to be brisk over the next few months. Projected Single-Family Sales is running at its highest level since May 2010 — right as the $8,000 federal homebuyer tax credit was ending.

• Single-Family Sales : 17 (Unchanged from February)
• Buyer Foot Traffic : 12 (Unchanged from January)
• Projected Single-Family Sales : 27 (+2 from February)

For home buyers in oro valley and across the country , the March Housing Market Index may signal the end of “builder discounts” and free upgrades. As home sales increase, builders are often less likely to make concessions.

In conjuction with rising mortgage rates and new, mandatory loan costs, buying a newly-built home may never be as inexpensive as it is right now.

If you expect to buy a newly-built home this year, consider moving up your time frame. The longer you wait, the more it may cost you.

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Office: (520)527-7507

The Federal Reserve released its September 21, 2010 meeting minutes Tuesday afternoon. Mortgage rates in arizona are slightly higher today.

It’s unwelcome news for this season’s home buyers, and existing homeowners with plans to grab lower rates. Mortgage rates made new lows last week and may have reached a turn-around point.

The “Fed Minutes” is published 8 times annually, and is the official meeting recap for the Federal Open Market Committee. Similar to the meeting minutes released after a corporate conference or condo association gathering, the Fed Minutes details the conversation and debate between meeting attendees.

Minutes are the lengthy companion to the Fed’s brief, post-meeting press release.

Because of its content, the Fed Minutes is closely read by Wall Street and economists. It’s insight into the talk that shapes our nation’s monetary policy and, within the text, there’s often clues about the Fed’s next move.

Here’s some of what the Fed discussed last month:

• On inflation : It’s running at lower-than-optimal levels
• On housing : Post-tax credit, housing stalled in July
• On stimulus : The Fed may intervene in open markets within the next few months

The over-riding theme within the minutes was that the U.S. economy is growing a steady pace, albeit slower than what’s optimal. The Fed is prepared to push things along if the economy slows further and news like that is helping stock markets.

Bond markets are losing. Rates are rising.

For now, mortgage rates hover near all-time lows.  If you haven’t locked a mortgage rate yet, your window may be closing.  Once the economy turns around for certain, mortgage rates will be among the first of the casualties.

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E. Skyline Drive, Ste 25o

Tucson,  Az , 85718

http://thetucsonexperts.com

Office (520)529-7507

Starting Monday, December 13, 2010, Fannie Mae is changing its mortgage lending guidelines.

For some mortgage applicants of arizona , the loan approval process will simplify. For others, it will toughen. How you’ll be affected personally will depend on your credit profile and your loan characteristics.

Among the biggest changes from Fannie Mae is a new set of guidelines for gift funds. When the new rules roll out, accepting cash gifts for downpayment will be easier.

Undetr the new guidelines, buyers of owner-occupied, 1-unit properties (i.e. single-family homes, condos, townhomes) can forgo Fannie Mae’s typical, minimum 5% personal downpayment contribution. Downpayments on homes meeting the above criteria can be comprised of 100% gifted and/or granted funds.

Buyers of second homes and multi-unit properties, however, are not exempt.

There’s also two changes pending with respect to revolving debt.

1. Debt with less than 10 payments remaining may no longer be waived in debt-to-income ratio calculations
2. Debt lacking a monthly payment on credit must be assigned a payment equal to 5% of the outstanding balance

Both of the above should increase the number of loan denials in 2011.

And, lastly, Fannie Mae changes some of its documentation requirements, the most noticeable of which will be with respect to income verification. Salaried workers and applicants whose commission/bonus accounts for less than a quarter of their income will have fewer paystubs to produce for underwriting.

Loan applications taken prior to December 13, 2010 are exempt from the new rules.

Fannie Mae’s complete guideline changes are available online at http://efanniemae.com.

Anne and Eddie McKechnie

Arizona Licensed Realtors Consultants

COldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Az 85718

http://thetucsonexperts.com

Office (520)529-7507

Home 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

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

The Federal Open Market Committee holds a one-day meeting today, its fifth scheduled meeting of the year, and sixth overall since January.

The FOMC is the government’s monetary policy-setting arm and the group’s primary tool for that purpose is an interest rate called the Fed Funds Rate.

The Fed Funds Rate is the prescribed rate at which banks borrow money from each other and, since December 16, 2008, the Federal Reserve has voted to keep the benchmark rate within a target range of 0.000-0.250 percent.

It’s the lowest Fed Funds Rate in history.

Because the Fed Funds Rate is near zero, it’s accommodative of economic growth, spurring businesses and consumers to borrow money on the cheap. This, in turn, fosters economic growth within a U.S. economy that is somewhat tentative and facing headwinds.

The Fed has said over and again that it will hold the Fed Funds Rate “exceptionally low” for as long as conditions warrant.  It’s expect that the Fed will reiterate that message in today’s post-meeting press release.

However, just because the Fed Funds Rate won’t be changing today, that doesn’t mean that mortgage rates won’t.  Mortgage rates are not set by the Federal Reserve; open markets make mortgage rates.

Mortgage rates in arizona tend to be volatile when the Fed is meeting. This is because the Fed’s press release highlights strengths and weaknesses in the economy and, depending on how Wall Street views those remarks, bond markets can undulate and mortgage rates are based on the price of mortgage-backed bonds.

When Ben Bernanke & Co. speak, Wall Street listens.

The Fed’s press release today will be dissected and analyzed.  Talk of higher-than-expected inflation, or better-than-expected growth should have a negative effect on rates. Talk of an economic slowdown may help rates to fall.

Either way, we can’t be certain what the Fed will say or do this afternoon so if you’re floating a rate right now and wondering whether the time is right to lock, the safe choice is to lock before 2:15 PM ET today.

Anne and Eddie McKechnie

Realtors Consultants

Coldwell Banker Residential Brokerage

2890 E Skyline Drive, Ste 250

Tucson Ax 85718

http://thetucsonexperts.com

From the Recent Press Release:

"Tucson is still experiencing a significant increase in buyer activity,  as we head into the Fall/Winter Season.
The amount of active Tucson Home listings on the market was 6,095. This is a decrease of 25% from the same time last year in August 2008.

There were also a total of 957 closings in August 2009,
When compared to the same time last year, the sales figured are up by 6%.

Tucson home inventory on the market is also showing a decrease which appears to be reinforcing the latest trend for Tucson.
In August this figure was  6.4, a significant decrease from  9.0 in August 2008.

However, the median price of sold homes was $162,500 for the month of August 2009, which has reduced 12% from August 2008.

It is therefore a great time to purchase a home as Tucson prices are very affordable, inventory is coming down and home prices appear to be stabilising.
New home builders are offering great incentives for you to buy before the first time home buyers tax credit runs out on November 30th 2009.
New property Tucson home sales are up 52% from the same time last year in August of 2008.

The inventory of homes has reduced in the Foothills. 85718 now has around 8 months of inventory compared to a few months ago when the inventory was over 12 months.
85750 still has 11 months of inventory, but this has also reduced from 13 months several months ago.

The most significant drop in inventory is in the 85749 Zip Code where three months ago there was over 24 months of inventory. This has now reduced to 10 months, which although still high, is showing signs of improvement.

Many Zip Codes now have a less than six month inventory, a good sign for an improving market.
However many lenders still see the whole of Arizona in a depreciating market, and Tucson often gets evaluated with the Phoenix market as one area.

Our statistics are quite different.

Interest rates are still very low for FHA and Conventional Loans and this week were hovering around 5%. There are still strict qualifications for Jumbo Loans, but they are out there and at great rates. Fixed Rates can be obtained for 5.5% for less than $500,000 and then 5.75% over $500,000.

The Tucson Real Estate Market  is experiencing a significant increase in Buyer activity, something that we will be watching into the usually busier Fall/Winter Season.
Remember Tucson homes must be closed before the cut off date of November 30th 2009 to get the tax credit."
 
Call Anne and Eddie for updated Tucson Real Estate Market news or visit them online at http://thetucsonexperts.com