Tucson Real Estate Blogs

Tucson Real Estate & Golf Properties

Featured Golf Property

11800 49er Fairway Lane
Under $660,000

Weather Forecast | Weather Maps

Douglas Trudeau , Assoc. Broker
Prudential Foothills Real Estate
64 N. Harrison Road, Suite 160
Tucson , AZ 85748
Mobile: 520-954-2209
Contact Me

Short Sales, What Can Buyers Expect?

May 14th, 2008 categories: Tucson Real Estate

What is a short sale? When a home owner can no longer afford to make payments and must sell their home for less than what they owe on the mortgage, it becomes a short sale. For simplicity, we will call this person the seller. The lender is accepting less than (short of) the amount left on the note. There is a lot of red tape involved in a short sale. It takes much more than the usual time, and other offers may come in while waiting.

Normal transactions require a mutual consideration between the buyer and seller. The buyer offers a specific price with a defined closing date. Other conditions may apply as well. The seller considers the offer. If all is well, the seller accepts. If not the seller may counter offer. Once acceptable conditions are negotiated, there is mutual consideration and there is a binding contract. Normally within a few days or hours a deal is struck. Sounds simple enough. Not so easy with a short sale.
Read the rest of this entry »

Authored by Doug Trudeau | Discussion: 2 Comments »

Tucson Real Estate April Sales Report

May 13th, 2008 categories: Tucson Real Estate

The official numbers are out from the Tucson Association of Realtors. Tucson home sales volume increased by 5.86% and total home sales increased by 8.1% over that of March 2008. Good news for home sellers and the local market. The numbers of available homes decreased by 2.37%. Indications are there to show the Tucson real estate market is heading toward a healthy market again. Tucson has always remained in better condition than many areas of the nation.

Prices decreased, what buyers want to hear. The average sales price dropped by 2.08% over that of March, while the median price lowered by 2.5%. More good news. Especially with interest rates holding in the high 5% to low 6% range. Changes have been very slight for months. Which brings to mind, a client with exceptional credit and savvy loan shopping closed on the purchase of his home a few weeks ago for 5.375%. So, those deals are out there.

Read the rest of this entry »

Authored by Doug Trudeau | Discussion: No Comments »

Tucson Real Estate - Should I Buy or Should I Wait

May 10th, 2008 categories: Tucson Real Estate

Almost daily someone asks me, “Should I buy a home now or should I wait for the market to change?” The answer is, “Now is a great time to buy a home.” Why?

Home prices have remained stable in some areas and dropped below levels before the housing market frenzy in other areas. Especially in the south, extended south, and southwest parts of Tucson. The southwest has always been a “get more for your dollar” area. Comparative shopping by area can save thousands of dollars. With the new Spectrum Shopping Center coming in at Drexel and I-19, with Best Buy and Harkins Theaters are already there, south and southwest homeowners won’t have to drive so far to go shopping and find entertainment. Whoever puts a restaurant near the theater is going to see great returns.

Read the rest of this entry »

Authored by Doug Trudeau | Discussion: No Comments »

Has The Housing Market Begun To Correct Itself?

May 6th, 2008 categories: Real Estate News

Everybody wants to know when the housing market will bottom out so they can get the best price. The truth is by the time anyone figures out the puzzle recovery will have already begun. An interesting article from the Wall Street Journal The Housing Crisis Is Over suggests that we on our way to a better market.

While the article mentions an 11 month inventory nation wide, Tucson has just under 9 months of inventory. Sales for the month of April were higher than anyone anticipated. April had nearly a 7% increase over what I predicted in December; and not all the sales have been turned in.

Interest rates have stayed low for months. There are a lot of good deals for buyers in the Tucson real estate market. If the market has not already corrected itself, there are a lot of indicators to suggest it is at least on the edge.

Prices have stabilized,
Inventory is dropping,
Interest rates are low,
Sales are increasing.

What will be the risk to those who wait too long?

Authored by Doug Trudeau | Discussion: 1 Comment »

What Makes A Luxury Home In Tucson

May 6th, 2008 categories: Tucson Real Estate

I’ve noticed a lot of inquiries for luxury homes lately. Which brings to mind. What is a luxury home? What are the different levels of luxury homes?

It used to be that anything over $500,000 in Tucson was considered a luxury home. Is there a difference between granite counter tops in a $350,000 and a $900,000 home? What difference is there between an $850,000 home and a $2,500,000 home? What can you expect?

Defining luxury homes can be as objective as it is subjective. Subjectively the amenities like granite counter tops, travertine floors, lighting fixtures, bathroom fixtures, and other physical features should be expected. Objectivity is where the argument begins. Are those fixtures good quality or just nice looking? Who was the builder? What is the quality of the materials in the wall not just the quality of the materials that can be seen?

Objectively, luxury homes should not be cookie cutter homes like those subdivisions where the only difference is the color of the home or the exterior elevations have a slight change. There are some nice upper grade homes out there, but, are they really luxury homes? If they are, then are those unique homes with better amenities “Luxurious Homes?”

My opinion of a truly luxurious home is a home that is…

Built by a reputable contractor who uses the finest quality of material,

top of the line lumber or steal framed
highest grade stucco, block, or concrete
highest quality plumbing, electrical, flooring material, etc.

Designed differently than that of surrounding homes,
Located in an area with other luxurious homes,
Captures and compliments the beauty of its surroundings,
Has a personality and character all its own,
Presents a feeling of grandure,
Top end amenities

Andersen windows
Viking, Dacor, Wolf, SubZero appliances
Grohe, Boffi, Lacava or other luxury bath fixtures

Kitchen design that a chef would fall in love with
Bathrooms that pamper their guests
Living area that invites the views of surrounding mountains or the desert
Garage that has room for opening doors completely or big enough to store collectibles along with daily drivers

Seeing a luxurious home with white GE Profile appliances is not what I would consider a luxury home. High end home maybe, but not luxury. Luxury homes should be distinct in every way. Maybe its time to redefine luxury homes and have two categories. Luxury homes for those with better than average amenities, and luxurious homes for those that have luxurious amenities beyond what can be bought at Lowes or Home Depot.

Authored by Doug Trudeau | Discussion: 1 Comment »

« Previous Entries

Tucson Real Estate Blogs & Golf

Submit Email For Feed

Really Simple Syndicate