Tucson Real Estate Blogs » 2008

Tucson Real Estate & Golf Properties

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

Archive for May, 2008

Home Searching On The Internet

May 18th, 2008 categories: Tucson Real Estate

Internet Real Estate Buying Anyone you talk to will tell you that a vast majority of home buyers start searching for a home on the Internet. In today’s world of technology the “Duh” factor comes into play when it comes to buying and buying smart. Estimates are as high as 80% of home buyers begin their search on the Internet. Personally, I believe it is more.

Lets see, I need an air filter for my truck. At $3.51 a gallon do I really want to drive five miles to find out they don’t have any? So I jump on the Internet check the local store and yes they supply what I need. Their phone number is there for the local store, called, they have two left. Now I can go buy.

I needed a wireless connection for my printer. Checked at the store while out doing other things, $99. Checked on EBay through the Internet, and got it for $47.99 plus $5.00 shipping. Works great. Would have spent more on gas than the shipping.

Need to renew prescriptions? Go to the Internet. Need to shop for a car? Internet. Need the latest news? Internet. After all, aren’t you reading this right now on the Internet? So, why should real estate be any different?

No wonder so many home buyers of all ages are looking for a house on the Internet. There are pictures, maps, comparisons. Careful about the comparisons, they can be misleading. There is information about neighborhoods, schools, nearly everything. It has gotten to the point that rarely do I have a client who cannot/does not access information on the Internet. A large majority of the clients I work with find me on the Internet. I Google myself sometimes to see what others see.

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Authored by Doug Trudeau | Discussion: 1 Comment »

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.

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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.

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Authored by Doug Trudeau | Discussion: 2 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.

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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.