The Tucson real estate market is continually changing.

Our blog is designed to keep you up to date on the Tucson Real Estate market, and also give you information on Tucson homes, recreational events, and local Tucson real estate news.

TheTucson Homes for Sale Guide is an informational source for you about Tucson real estate and its surrounding areas of Oro Valley, Marana, Vail, Sahuarita, and Green Valley . This guide will be a resource for those interested in the Tucson Arizona area, for those already living here that are curious about local Developments, and for those who are contemplating a relocation to our beautiful city of Tucson Arizona.

The site will also provide you the latest information about the various surrounding areas of Tucson, Homes for Sale in and around town, updates in the Tucson Real Estate Market , the latest Real Estate News, the buzz on ”hot “new Tucson Developments, Tucson Property Search,  outlying Ranches, and also Land in Tucson and its surrounding areas .

Tucson has the fortune of having a great climate. It has more than 350 days of sunshine a year and is regarded as the sunniest City in the USA. It is also the oldest having had over 10,000 years of continual habitation. It has a culturally diverse flavor, and attracts those that are health conscious. There are also many world class Hotels and Resorts in Tucson, and an abundance of good Restaurants. You can request a free Tucson Relocation Package by visiting our site . We can also provide you with the latest Tucson Real Estate Market report for various areas in and around the area. There are many Recreational Activities in Tucson throughout the year, and we hope to give you the skinny on local Tucson events!

The outlying areas of Oro Valley, Marana, Vail Sahuarita, and Green Valley all have a distinctive terrain, and also different types of housing within their Communities. These range from  single family homes to Luxury Estates.

The location of your Tucson home, and also the type of property that you buy, will determine your price in the area for your new home. There are various Styles of housing in Tucson, and they  include the Territorial, The Santa Fe, the Mediterranean,. the Craftsman, the California Contemporary, the Adobe Home, the Ranch, the Patio Home,  and last but not least the Rammed Earth Home.

Tucson has always attracted many world reknowned Architects and has an abundance of talent in that arena. The University of Arizona located  close to downtown Tucson, has one of the Country’s top Architectural Schools.

The Tucson area has also attracted not only great conventional Medical Personnel, but also and array of alternative Medical Practices too. A world renowned Medical School is in our Community, with the new Cancer Center now open on Campbell Road. Andrew Weil lives in Tucson, and and the area has a variety of alternative medicine resources from herbalists to chiropractors.

Whether you are looking for a Condo, Townhouse, Apartment, Single Family Residence, a Patio Home, a Gated Community, a Luxury Property, a Horse Property or Acreage, or just a great place to live and work, Tucson and the surrounding area of Oro Valley, Marana, Vail and Sahuarita is a great place to call home.

Analysts said the Fed will likely delay cutting rates further at its Jan. 29-30 meeting but will probably keep moving rates down aggressively as the economy continues to weaken.

“This move is not an instant fix,” said Ian Shepherdson, chief U.S. economist at High Frequency Economics. “The economy is still staring recession in the face, but at least the Fed now gets it.”

In addition to cutting the funds rate, the Fed said it was reducing its discount rate, the interest it charges to make direct loans to banks, by a similar three-quarters of a percentage point, pushing this rate down to 4 percent.

Commercial banks responded to the Fed’s action on the funds rate by announcing similar cuts of three-quarter of a percent on its prime lending rate, the benchmark for millions of business and consumer loans. The action will mean the prime lending rate will drop from 7.25 percent down to 6.50 percent.

The Fed action was the most dramatic signal it can send that it is concerned about a potential recession in the United States.

The Fed decision was taken during an emergency telephone conference with Fed officials on Monday night. Those discussions occurred after global financial markets had plunged Monday as investors grew more concerned about the possibility that the United States, the world’s largest economy, could be headed into a recession.

In a brief statement, the Fed said it had decided to cut the federal funds rate “in view of a weakening of the economic outlook and increasing downside risks to growth.”

The central bank said that the strains in short-term funding markets have eased a bit, but “broader financial market conditions have continued to deteriorate and credit has tightened further for some businesses and households. Moreover, incoming information indicates a deepening of the housing contraction as well as some softening in labor markets.”

The move caught financial markets by surprise. Many had expected the central bank would wait until its meeting next week to make any move in interest rates. The Fed made the move before markets had opened in the United States, hoping that the bold move would limit the decline in U.S. stocks.

"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

We are almost a the end of 2008 and how is the Tucson Real Estate Market doing?

Tucson Real Estate market in Southern Arizona January news has just been released by the Tucson Association of Realtors,  and  it marks an interesting year ahead in 2008!

Although statistics show that both home sales volume and unit sales numbers were below  January of 2007, the Average

Sales Price for a home in Tucson  only decreased 2.17% from $272,351 in January ’07 to $266,450 in January ’08, and pending contracts increased to 1,079 in January ’08, an increase of 25.03% over the January ’07 count of 863.  We are seeing a pick up in the market when comparing this time last year. We are also seeing a reduction in Active Listings, from 9,742 this time in 2007 to 9,168 in 2008.

The Tucson real estate market is generally slower at the beginning of January and then picks up at the end of January and into February, as many Events draw people to Tucson including the Gem Show, The Tucson Rodeo, and The Acccenture Golf Tournament.

Tucson real estate can look forward to continuing growth as it still has affordable housing, great weather, combined with  national low interest rates.

Amidst many rumours recently concerning a possible bankruptcy, the latest news was released this morning.

We will update you when we know all the details

Recent analysis of the Foothills of Tucson inventory and also recent sales shows that there around 140 homes on the market in the over $1,000,000 but the sales have been steady. It is also important to note that the most expensive sale in  our real estate history just sold  for $8,000,000.

Eventhough the inventory of Luxury homes gives the market enough for around a year, the average days on market has been running around 90 to 120 days for those Luxury homes that have been priced accordingly.

The sales price in the luxury home market has also been within 1 to 3 % of the list price which suggests that the affluent baby boomer generation has not  been affected by recent negative press nationally for the Real Estate market and locally  in the marketplace in Tucson Arizona.

To view all Luxury Homes and Estates available for sale over $1,000,000 in the Catalina Foothills area of Tucson, feel free to click the link below:

View_Luxury_Homes