Good news for Home Buyers - the $8,000 First Time Home Buyer Tax Credit has been extended to contracts written through April 30, 2010 for anyone who has not owned a home for the last three years! In addition, there is a $6,500 Tax Credit for anyone buying a new primary residence that has lived in their home for 5 consecutive years of the last 8 years. So, for example, if you sold your home and have been renting for the last year or so - you will qualify for the credit as long as you lived in your home for 5 consecutive years of the last 8. You can even keep your home and turn it into a rental or second home. If you would like more information about either of these, please contact us or visit our website, at the link below.
This is all good news for Sellers, as it will bring more buyers into the market. We have recently attended a forecast seminar, and based on a variety of indicators - which we would be happy to share with you at your request - it appears that prices will begin to rise mid year, as well as interest rates. As of today, the 30 year fixed rate is 4.75% - historically low.
As to our October Tucson statistics: There was an 8% increase in home sales from September, to 1,021 units, a 20% increase over last October. No doubt the Home Buyer Credit has stimulated sales! The average sales price dipped .5% from September, to $195,733, which is down 13.5% from last October. The median price dipped to $158,900, 2.5% lower than September and 11.7% lower than last year.
Pending contracts are sharply up 70% from last October, to 1,287 units - down 3% from last month. New listings are also up, to 2,048 units - a 10% increase from last month, and a .7% increase from last October. So, at the end of October we have 6,213 homes on the market - a 22% decrease from last year at this time.
We have monthly reports for each area of town (North, Central, East, etc.) at our website, just click on our website below. In addition, our research department can generate a two year trend analysis report, by month, for your specific neighborhood or zipcode, so just let us know if this would be helpful to you.
If you would like to see the Tucson Association of Realtor's full September MLS statistics, go here: http://www.tucsonrealtors.org/tar-v2/MLS_Stats_Oct.pdf
We are always happy to hear from you and those you refer to us! Whether to provide information, a current market analysis for your home, or help in Buying or Selling property!
800-453-7653 or 520-235-3973 or Herr@TucsonMoves.com
Approximate Location Boundaries: Greater Tucson Area including Oro Valley, Marana, Catalina, Vail, & Sahuarita
About Janie & Barrie Herr:
Janie and Barrie have been providing personal and professional Real Estate Services for sixteen years, and have been investing in the Tucson market for over twenty seven years. They have helped hundreds of families Relocate to Tucson, Oro Valley and Southern Arizona. Their knowledge and experience is an asset to the Buyers and Sellers they help, whether it is to Buy, Sell, Invest, or Exchange.
Barrie has been active in "Green" initiatives since the 1980's and has earned the National Association of Realtors GREEN designation. They both continue to deepen their knowledge of their profession, in part by earning designations, and have the "Accredited Buyer Representative" (ABR), the "Certified Residential Specialist" (CRS), the "Graduate of the Realtor Institute" (GRI), the "Internet Professional" (e-PRO), and hold a Broker's license.
Civic and community activities include Board Membership of "Our Family", this year serving as President; serving as a Mediator and Ombudsman, Board membership of Tucson Clean and Beautiful, and serving on the Tucson Association of Realtors committees. A donation to the "Long Realty Cares Foundation" is made from every closed transaction.
Each client and their situation is unique, and they personalize their services for every client they serve. It is a testiment to their dedication and diligence that they are in the top 2% of Tucson Realtors, and many of their new clients have been personally referred by past clients.
Not all Realtors are alike ... Janie and Barrie will show you why! Visit either of their websites: www.TucsonMoves.com or www.GreenHomesTucson.com and contact them to Buy or Sell with confidence!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
