I must say Buyer interest has picked up as evidenced by the open house I had on Ocotillo Canyon a few weeks ago and the traffic that I saw at an Open House I visited on Sunset Cliff Place today.
Many Snowbirds start looking now and wait until just before their lease runs out at the end of February or March to buy. They start educating themselves now by scoping as many open houses as possible.
With interest rates on conforming loans with limits up to 417K hovering around 5.5% many may chose not to wait until Spring to buy. I can not remember the last time interest rates were so low. Finally some help is on the way for nervous Sellers!
I recently represented the buyer who went under contract on a beautiful home on North Sabino Mountain Drive that was listed for $1,365,000. So make no mistake about it, there are some motivated buyers out there.
On the other hand, I previewed some homes that really need to be staged better and clutter needs to be removed; these homes were not in Sabino Mountain, but in a competitive community closeby. I always wonder why their agents do not advise them to replace old carpet; paint some walls a neutral color; rent a storage space to get rid of too many items making rooms look small, etc. Oh well, I guess that makes me better than many of the other real estate agents out there since I give extensive advise to my Sellers. Several of my recent listings were staged and I know that made the difference in selling them much quicker than most of the competitition.
While there are some agents out there that are forecasting gloom and doom, I am not one of them since I see signs of improvement in the Tucson Luxury Home Market. There has been no better time to buy in the five years I have lived in beautiful Tucson.
Effective January 1, 2009 the new FHA loan limits have gone down from $316,250 to $271,050, and the downpayment will be 3.5% up from the current 3% downpayment requirement. So if you or your family are looking for a home in this price range, don’t hesitate any longer and give me a call at 520-615-2598 to start looking.
In Sabino Mountain the current lowest price house is listed at $375,000 on 4326 N Sunset Cliff Drive; it is a Monterey -built one-story home with 3 bedrooms and 2 1/2 baths; has 2,074 square feet; upgrades include Corian counters, cherry cabinets, gas range, 18″ diagonal tile floors and more. Even though Sabino Mountain homes are not priced as low as homes utilizing FHA financing, there still is plenty of mortgage money out there to those with good credit scores.
I will be holding 4348 N Ocotillo Canyon Drive open this Sunday. This 2,238 square foot home is wonderfully upgraded and has a view of the pristine Sonoran Desert and the high Catalinas. The price has been dropped from 435K to 419K; it has only been listed about a month. Hope to see you between 1-4 PM this Sunday. Gate Directions will be posted at the Sabino Mountain gate, or do not hesitate to call me at 615-2598 for more information.
Interestingly enough there is a chance Obama will win in John McCain’s home state of Arizona because it is likely Pima County will overwhelmingly favor Obama.
I proudly support Obama for President and believe he is the best candidate to bring our country together; to solve the economic crisis and to steer us in a positive direction in world affairs. His intelligence, vision and energy will put America on the right track.
The home on 4028 N Sunset Cliff Place that would have been Sabino Mountain’s first short sale, has fallen through. It is back on the market at $400,000 and the agent’s listing remarks imply the Lender will accept 400K. (On short sales many times the lender does not accept the listing price and seeks a higher price.) This home was originally purchased at 510K; it has a prime location at the end of the cul-de-sac and is very upgraded with such upgrades as tile floors, Corian counters, Cherry cabinets, etc. Someone will end up getting a great deal on this almost 3,000 square foot 2- story home that boasts a first floor master suite and a second floor additional family room. Call me at 520-615-2598 to see this bargain.
Also–remember I am holding open 4348 N Ocotillo Canyon Drive tomorrow (Sunday–Nov 2nd) between 1-4. This beautiful Pepper-Viner one-story home is priced at 435K and has a beautiful setting and many original and new upgrades. If you need directions on how to proceed through the gate call me or drive up to the center island and you will find written instructions there. Hope to see you!