May 2008 Residential Sales Statistics from the Tucson Multiple Listing Service
Totals for May 2008 as compared with May 2007:
Home Sales Volume
Decreased 34.93% from $395,081,716 in May 2007 to $257,072,764 in May 2008
Home Sales Units
Decreased 27.71% from 1,418 in May 2007 to 1,025 in May 2008
Average Sales Price (all residential types)
Decreased 9.98% from $278,619 in May 2007 to $250,803 in May 2008
Median Sales Price
Decreased by 9.86% from $223,000 in May 2007 to $201,000 in May 2008
Pending Contracts (not yet closed in escrow)
Increased 24.68% from 1,191 in May 2007 to 1,485 in May 2008
.
Active Listings
Decreased 12.28% from 9,721 in May 2007 to 8,527 in May 2008
New Listings
Decreased 22.9% from 2,960 in May 2007 to 2,282 in May 2008
April 2008 as compared with May 2008:
Home Sales Volume
Increased 4.12% from $246,878,039 in April 2008 to $257,072,764 in May 2008
Home Sales Units
Increased 5.34% from 973 in April 2008 to 1,025 in May 2008
Average Sales Price (all residential types)
Decreased 1.15% from $253,729 in April 2008 to $250,803 in May 2008
Median Sales Price
Increased by 3.07% from $195,000 in April 2008 to $201,000 in May 2008
Pending Contracts (not yet closed in escrow)
Decreased 4% from 1,547 in April 2008 to 1,485 in May 2008
Active Listings
Decreased 3.19% from 8,808 in April 2008 to 8,527 in May 2008
New Listings
Decreased 6.51% from 2,441 in April 2008 to 2,282 in May 2008
Home Sales Volume
Decreased 35.64% from $362,397,582 in March 2007
to $233,207,940 in March 2008.
Home Sales Units
Decreased 32.78% from 1,339 in March 2007 to 900 in
March 2008.
Average Sales Price (all residential types)
Decreased 4.25% from $270,648 in March 2007 to
$259,120 in March 2008.
Median Sales Price
Decreased by 9.42% from $220,815 in March 2007 to
$200,000 in March 2008.
Pending Contracts (not yet closed in escrow)
Increased 18.28% from 1,192 in March 2007 to 1,410 in
March 2008.
Active Listings
Decreased 11.41% from 10,185 in March 2007 to 9,022
in March 2008.
New Listings
Decreased 9.81% from 2,710 in March 2007 to 2,444 in
March 2008.
*from the Tucson MLS Real Estate Residential Sales Stats Mar 2008.
JANUARY 2008 TUCSON MLS RESIDENTIAL SALES OVERVIEW
Home Sales Volume
Decreased 38.28% from $256,449,641 in January 2007 to $158,272,006 in January 2008.
Home Sales Units
Decreased 36.88% from 941 in January 2007 to 594 in January 2008.Average Sales Price (all residential types)
Decreased 2.23% from $272,529 in January 2007 to $266,450 in January 2008.
Median Sales Price
Decreased by 7.65% from $220,365 in January 2007 to $203,500 in January 2008.
Pending Contracts (not yet closed in escrow)
Increased 25.03% from 863 in January 2007 to 1,079 in January 2008.
Active Listings
Decreased 5.89% from 9,742 in January 2007 to 9,168 in January 2008.
New Listings
Increased 7% from 3,499 in January 2007 to 3,744 in January 2008.
Did you know – Loan forgiveness after a short sale can result in tax liability for the seller? The IRS recognizes four situations that will not result in tax liability for the seller, these are:
When seller receives a bankruptcy discharge and the deficiency is included in the bankruptcy
When seller is insolvent at the time of the debt cancellation. Insolvency occurs when the borrowers’ debt exceeds their total assets. Borrower would need to prove this insolvency to the IRS when filing tax return
When the debt is secured by a nonrecourse loan. In a nonrecourse loan, lenders have no legal right to collect delinquency judgment from any borrower assets not pledged to secure the loan. When the resulting tax liability on a cancellation of a debt on a investment property can be offset against other business liabilities and expenses. This exception will not apply to properties occupied as residence by the mortgagor.
Excepted from “Loan forgiveness after the short sale: taxing what isn’t there” by Lance Churchill Tucson Realtor Nov/Dec 2007
• 1,428 sq. ft., 2 bath, 3 bdrm single story - 
MLS® #20746119 $114,900 USD
Tucson Avra West, Marana - Beautiful! near new Fleetwood Celebration on 1.02 Acre lot! Spacious open floor plan with high ceilings, great kitchen with lots of counter space and cabinets, large master suite with garden tub, split bedroom plan, double pane windows, woodburning fireplace in living room, ceiling fans throughout, window coverings stay. Large closets for lots of storage PLUS one Tuff shed. Large clean lot with generous setback and circular drive, Mountain, sunset views. Truly a great home at fantastic price!
Property information
One thing to consider in selecting a Real Estate Agent is whether the person is a Realtor. Not all agents are Realtors. Realtors must operate within the guidelines of the Realtor Code of Ethics http://www.realtor.org/mempolweb.nsf/pages/code
Also remember that while the most active Realtor may be most experienced in a variety of transaction types due to the actual volume of business they do, they may not be able to give you personalized one on one services. If this level of personalized service is important to you, selecting a less busy Realtor or one that operates exclusively by referral, may be just what you need to feel confident that all of your questions will be answered by the Realtor handling your transaction rather than an assistant or associate. Often the most active (in terms of transactions completed) Realtor can be very busy and works with a team of professional Realtors who assist in working the transactions to completion.
Moving can be one of the most stressful times! Psychologists have agreed that a move ranks up there with death of spouse, loss of job, divorce… Particularly when your move involves children and change of school system, the stress can escalate! Let us help you by giving you all the most current information to assist you in making the best, most informed decision that will most benefit your family. Check out our Relocation page and for the latest info on schools click on "Schools" under "Helpful Online Resources" on our Relocation Page. We have included information on Private, Charter, and Career Schools also. Our page doesn’t require you to sign in, or give us any of your contact information. The resource is there for you to use when you want, as often as you want. And I give you my word: we will not contact you!
There is also information on Utilities, Crime Statistics, AZ Driver’s licenses, Employment, AZ tax information, recreation and so much more. Take some time to see what is available all in one place on Moving to Marana Relocation page.
Central Sprinkler O-Ring sprinkler recall, originally issued July 19, 2001 revised May 28, 2003, ends August 31, 2007? Residential and commercial property owners who have O-ring sprinklers covered under the recall and have not yet filed a claim must submit “Proof of Claim” and “Waiver and Release of Claims” forms to Central Sprinkler Company postmarked by August 31, 2007. Valid claims received prior to the deadline will qualify for free replacement sprinkler heads and installation services. The voluntary replacement program includes about 35 million O-ring fire sprinklers manufactured by Central Sprinkler, Gem Sprinkler Co., and Star Sprinkler Inc., due to a concern that some O-ring sprinklers might not operate in a fire situation. Consumers can obtain additional information on identifying sprinklers covered by this recall and instructions on filing a claim at www.sprinklerreplacement.com or by calling Central Sprinkler at 800 871-3492
For full list of fire sprinkler heads involved: www.cpsc.gov/cpscpub/prerel/prhtml01/01201.html
Real Estate Sales Statistics are in from Tucson MLS!
Average Sales Price (all residential types) Increased 4.22% from $269,217 in May 2006 to $280,589 in May 2007. After falling from January to February 2007, average sales price has continued to climb, reaching $280,589 in May 2007. For the second month in a row, average sales price has increased in year-over-year comparisons. The average sales price in May 2006 was $269,217 - more than $11,000 less than the average sales price in May 2007.
Median Sales Price Increased 1.02% from $221,250 in May 2006 to $223,500 in May 2007.
And fewer new listings are coming on the market: new Listings Decreased 6.60% from 3,169 in May 2006 to 2,960 in May 2007.
In good news for area sellers, the average time on market in May 2007 reached 61 days. That's the shortest time we've seen so far this year. Days on market reached a high of 68 in January 2007 and has hovered in the mid-60s from February to April 2007.
Tucson market seems to be showing some signs of life, and with interest rates slightly nudging upward things may be looking better. How are things in your market?
According to Tucson MLS Residential Sales Statistics for April 2007, home prices in the Tucson Market seem to have stabilized with only a $60. decrease in average home prices as compared with March 2007 statistics. Over last year's figures, that's only a 0.23% decrease from $277,076 in April 2006 to $276,426 in April 2007.
Medium sales price increased 1.01% from $219,250. for April 2006 to $221,472. for April 2007. April 2007 sales volume reached $353,825,236. So buyers are starting to become active again. Time on the market is hovering at around 60-65 days, as it has been since the begnning of the year.
Tucson MLS Residential Sales Stats are up to date and always available on Moving to Marana's home page. Just click on Tucson Monthly Sales Stats
$25,000. price drop! Now $250,000.
Hallcraft Energy Star home on large lot, 35k in upgrades! Stainless app. natural granite slab countertops, maple 42" cabinets, 10' ceilings, bay window in master, 18" ceramic tile (diagonal lay), fully wired for surround sound, security prewire, large side yards, unique circular formal foyer, drip irrigation w/ reclaimed H20. Great open floor plan. Large office/den just off foyer.
http://www.movingtomarana.com/Marana/Arizona/Homes/85653_-_Marana/Gladden_Farms/Agent/Listing_899639.html
We have loaded a new movie clip onto our website www.movingtomarana.com for those who have never visited our town of Marana and would like a pleasant overview of our lovely town. See some history and Marana's vision for the future and just why we call Marana home! Check out this short movie by going to our About Arizona Page and Clicking "Meet Marana, AZ" right at the top right column!
Did you know… your cultured marble countertops (20 yrs) will last a bit longer than your refrigerator (13 yrs) and your microwave oven and dishwasher will probably call it quits at about 9 years? Masonry lasts the longest with brick walls at the top at 100+, then chimneys, fireplaces, and brick veneers that last a lifetime! In the lifetime range is also copper wiring and copper clad aluminum wiring but electrical control switches last only 10+ yrs. Your modified acrylic kitchen sink will last 50 yrs and survive several faucets that last only 15 years. Whirlpool tubs can be expected to last 20-50 years depending on usage, showerheads can last a lifetime. Wood flooring, marble, slate, granite can be expected to survive 100+ yrs. and tile 75-100 yrs. Both interior and exterior paints can last up to 15 yrs, but homeowners often paint more often. Polyvinyl fences are designed to last a lifetime. The concrete shell of your swimming pool should last 50+ but the interior plaster and tiling only lasts about 10-15 yrs. All these estimates were be found through The National Association of Homebuilders’, sponsored by Bank of America Home Equity Division, study to determine the life expectancy of component parts of a home done in Summer 2006.. The study was conducted by telephone survey of manufacturers, trade organizations and researchers to collect data. Findings are not intended as definitive but only as a guideline, as consideration of quality installation, level of maintenance, climate conditions, and intensity of use must factor into the final estimate. For the complete report: http://www.nahb.org/fileUpload_details.aspx?contentID=72475 or visit the NAHB website at http://www.nahb.org
If you need a contractor be sure to check http://www.movingtomarana.com/Home_Improvement/page_1425361.html Click on "Arizona Registrar of Contractors" For work estimates click on"Contractor Work Estimates"
See our Home Improvement Rss Feeds (Washington Post) for current home improvement tips!
New Pima County Assessor Residential Notice of Value for 2008 has been mailed out and most Pima County homeowners should have received theirs this past week. It will show Full Cash Value and Limited Value for both 2007 and 2008 for each Parcel ID. In the event, owners believe an error has been made where property is either improperly valued or erroneously listed, an appeal may be filed prior to the deadline of 4/27/2007 by submitting a Residential Petition for Review of Value (form DOR 82130R) available for download from www.asr.co.pima.az.us Also visit the Pima County Assessor's website for valuation information, Property exemption information, and guidelines of the Senior Valuation Freeze Program.
Also for general resources on Real Estate Tax, check out the new Real Estate Tax Links we've added to Moving to Marana at http://www.movingtomarana.com/Buyers/page_1156761.html
End of year stats for Dec are out: Tucson MLS service states that Home Sale Volume is down 22.55% from $331,013.714. in Dec 2005 to $256,382,141. in Dec 2006.
Average Sales Price for all residential: prices are beginning to stablize we saw a small drop of 2.02% with $266,731. Dec 2005 to $261,348. for Dec 2006
Median Sales Price: decreased 2.27% from $220,000. Dec 2005 to $215,000. Dec 2006
Average days on the Market continues to increase 64.10% from 39 days in Dec 2005 to 64 days in Dec 2006
Active listings: rose 56.09% from 5,457 in Dec 2005 to 8,518 in Dec 2006
New listings coming into the market in Dec increased only 9.28% from 1,638 in Dec 2005 to 1,790 Dec 2006
This shows that Tucson Real Estate inventory, total available properties on the market, continues to decline overall! This total for Dec of 8,518 properties (15% are townhomes, condos, and mobile homes) is the smallest inventory seen since May 2006. This situation is likely to continue as fewer new listings are entering the market for the second consecutive month. In terms of closed sales there have been 20% fewer: 1,241 in Dec 2005 to 981 closed sales for Dec 2006.
Buyers wanting to take advantage of current low interest rates are beginning to realize that prices are holding. Tucson surpassed the 1,000,000 population mark in 2006, and personal incomes gains are expected around 6.5% for 2007 as Arizona topped the nation for the fastest job growth for 2006. Now is the time to buy!.