TheTucsonFoothills

sometimes people surprise me, and not pleasantly

This past Sunday was Fathers day, and my two daughters Margot and Jenna and my wife took us all out to lunch to celebrate.
We had a nice lunch and great time and got back home about 2:00. The plan was to spend the day lounging around the pool having a relaxing afternoon. No work, no open house, just a day to goof off and be with my family. It was really nice.

Just as I was getting into the relaxation groove I got a call from a woman, someone I'd never met, who wanted to know if I could show her a house that was for sale here in the Tucson Foothills, and do it that afternoon. During the week she worked and wouldn't be able to go until about 6 o'clock. It's not really what I wanted to do at that moment. 

So I wanted to know more. She was moving here from Dallas, and had already started work here, and her husband and kids would follow as soon as she found a house for them.
She briefly explained the kind of house she was looking for and that she was interested in this particular house because on a $/sq ft basis it was very inexpensive. I agreed that it was, but also wondered why it had been on the market for five months when it was priced about 20% under market. Seemed to good to be true.
I speculated that there might be some flaw, the kind of flaw that you can't fix or change, that was not apparent in the listing, but I didn't know for sure because I'd never seen the house in person.

I asked how she happened to call me for this showing and she said that she'd spent a lot time reading about the Foothills on my web site and blog, and found it all very informative and helpful and she really liked it too. 
Well, compliments will get you everywhere, and before I knew it I was making arrangements to meet her and show her the house.

It was a very nice house, but sure enough, there was a flaw that couldn't be fixed or changed, let's call it a location flaw.
So that was that. But we seemed to be getting along very well, and she asked if I could show her a few areas of the Foothills that she'd read about on my blog.
We cruised around and talked specifics about what she and her family needed in a house, and the fact that she needed to find a house relatively soon so the kids could get registered for school.
We talked about the Foothills, different areas, different types of homes, the current state of the market, etc.
All good stuff and a nice easy going conversation. And now and then we stopped to look at a few homes that were vacant, where we could just pop in.

When I brought her back to her car we sat and talked for quite a while and we seemed to easily and mutually get to the point where we agreed to work together and that I'd help her find the house.
We talked about how we'd proceed from there and made some loose arrangements to look at houses during the week after she was done with work.

OK, that was a very productive three hours, I learned what they need and she learned some stuff about the Foothills. We're off to a good start and I've got a new client that I like and that I know I can really help. But I had to get moving on this because they needed to find a home soon.

So Monday morning I went through the MLS and pulled some listings that fit the criteria. Then I went out and previewed the ones I hadn't seen before.

Later that day when I got back, I called her and left a voicemail to remind her to send me an email so I'd have her address to email her these listings. Tuesday I left another voicemail.
She never returned my calls, I can't reach her, and now I have no desire to. That's rude, really rude.
And not because she's apparently decided to not work with me, she doesn't have to work with me, no matter how swimmingly we got on.
But a simple phone call to say so would be common courtesy.

Next Fathers day I'm staying put.

short sale of the week, in the Tucson Foothills

this house just popped into the Tucson Association of Realtors MLS as a short sale here in the Tucson Foothills.
Listed for $850,000, or, $186.53/sq. ft. That's cheap, really cheap.

It's 4557 sq. ft, 2 story, 5 bedrooms/4 1/2 baths, built in 2006 on .80 of an acre in the heart of the old foothills.
Recently this house was for sale for $1.2, after having been reduced and reduced again from it's initial listing price of $1.5.



It has polished concrete floors, granite counters, cherry wood cabinets, ceilings that reach to 18', a pool, 2 fireplaces, 3 car garage,
even a koi pond & mountain views,

it sounds like a deal to me, if it's your cup of tea.
Call me if you're interested in seeing it.
John Schneider 520 271-4164

It's not my listing, it's listed by:
Jerry Andre Marbury
Coldwell Banker Residential Brokerage
Tucson, AZ

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

buying snow blowers in July

In the Tucson Foothills we have our in-seasons and our out of season seasons. January through May is our in-season in the Foothills.
Snowbirds and second home owners are here en masse, and showings and sales of homes are at their busiest time for the year.

As June arrives and temperatures head into the triple digits, winter visitors and second home owners have left town and everything slows down, including home sales. It's like clockwork, it happens every year.

But if you can take the heat, it's the best time of year to make a deal on a home in the Tucson Foothills. It's like buying a snow blower in July, there's not much competition. Home sellers realize that sales are slow and are not going to really pick up again until next January.
And when it's 100° in June and the showings are few and far between, January can seem like an agonizingly long way off.
Your offer is the bird in the hand. 

In addition to the regular seasonal slow-down that summer usually brings, this is now the third year in a row of slower home sales overall in the Foothills. Because of that we have a relatively large inventory of homes for sale, and quite a few of those homes have been sitting on the market for a long time.
So our regular summer slowdown, combined with higher inventory and the continuing overall sluggishness of the market has created a situation that heavily favors buyers, and should enable buyers to make even better deals this summer than in summers past. 

Here's what to look for and what to do to give yourself an edge when buying a home in the Tucson Foothills this summer.
The more of these conditions that your subject home meets, the better your chances of making a great deal.

-Make sure to search the market thoroughly and try to find at least two homes that you'd like to buy. The point is, you don't want to fall in love with a house, and then find that the seller's not negotiable,
and have nowhere to turn. You want to be able to walk away and move on to your next choice. 
 
-Make sure that your target homes are priced roughly in the ball park of where they should be. If the seller is way off in the stratosphere on their list price, that's probably not a good starting point to making a good deal. 

-The home should have been on the market for at least four months, and longer is better. It's less likely that the owners of a home that's been listed for just a month or two are going to be very motivated to make a great deal.
 
-If the home is vacant that's a big plus. If it's been vacant for a long time that's an even bigger plus. But it needs to be a primary residence, or what was their primary residence. If the current owners use the house as a second home, it's probably always vacant in the summer, so that's not much of a plus.

-If it's a new builder spec home, that's a big plus.
And if it is, then it's almost certain that it's priced at $1,000,000 ++, and in the $1,000,000++ market there are a lot of homes for sale, both new and resale. And quite a few new-vacant-builder-investor homes. And many of these builder/investor sellers are super motivated to do what it takes to sell ASAP. They're probably holding a big note on the cost of building that big expensive home, and they want out from under.

-If it's an older home and it was purchased in the last two years or so, and it's now advertised as having a new kitchen, baths, flooring, etc, and at a much higher price than the last sale, it may well be a home that was bought to fix & flip, and there may be an opportunity here too, particularly if it's vacant.
 
-If the home has had two or more meaningful price reductions (3-4% or more) that's a good sign that the sellers want to sell and will adjust their expectations to get it done. Little token price reductions, $1000 here, $2500 there, they don't count. As a matter of fact, they're a sign that the seller is into playing games and/or they don't understand or don't care about the reality of the current market.

-If there is a large inventory of similar homes for sale in that area of the Foothills or that price range, or both, that's a very useful bit of negotiating ammo.

Once you find your target homes and you're ready to move forward, you'll have to evaluate each one individually to decide how much to offer and how best to structure a winning deal. There are too many variables to offer specific advice beyond the following generic tips.

-if you're financing the purchase, have that all lined up, signed, sealed and approved ahead of time

-make your offer as clean as possible with only inspection and financing contingencies and limit the offer to just the house and grounds, the real property. Forget about the potted plants, the furniture and the other personal stuff that you'd like to include.
The seller may have a particular fondness or sentimental value for that do-dad that you've included as part of the offer, and now they're agonizing over that item, rather than concentrating on the main deal. Don't complicate the offer.
 
-if possible, make it a cash offer, and if the property is vacant, make it a cash offer with a fast close - two weeks, start to finish.
The combination of a cash offer and a fast close is hard for a home seller to resist. Boom, two weeks and they're out from under.

-If you've done your best, negotiated diligently and in good faith and still can't make a deal, walk away and move on to your next choice.
Sometimes walking away causes the home seller to reconsider.
If not, just stay cool and keep walking.

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

quick update on the $1,000,000+ home market in the Tucson Foothills

Today there are 159 homes for sale in the Tucson Foothills priced from $1,000,000 up to about $8,000,000, and since January 1st,
22 $1,000,000+ homes have sold in the Foothills, priced from $1,075,000 to $3,100,000.
And with a majority (16) of those homes located in gated communities, it's apparent that buyers of high-end homes continue to show a strong preference for gated communities in the Tucson Foothills.

Of the 16 sold in gated communities- 4 in Pima Canyon, 3 in Ventana Canyon Country Club, 2 in Catalina Foothills Estates 10, 2 in Cobblestone, and 1 each in The Canyons, Skyline Country Club, Ventana Vista, Sabino Mountain and Pinnacle Ridge.

The other 6 are in non-gated communities scattered throughout the Foothills, in Alta Vista, Catalina Foothills Estates, Coronado Foothills Estates and Flecha Caida. But whether they're gated or not, one thing they all have in common is that all 22 are located on good lots in established communities in the Tucson Foothills.

And although there are quite a few $1,000,000+ homes for sale on less desirable, or what I call in-fill lots in the Foothills - almost all of these are  spec homes built in the last couple of years -
not a single one has sold so far this year. 

But that's no surprise. With a large inventory of homes located on good lots in sought after areas throughout the Tucson Foothills,
why would anyone choose to ignore the first rule of real estate,
location, location, ...

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

what's for sale & sold in Tucson Foothills subdivisions

If you're looking to buy a home in the Tucson Foothills, here's a list of popular subdivisions, both gated & not gated, with basic info on what's for sale and what has sold, and for how much.
The sold figures are for homes sold since 1/1/08 thru 4/28/08.
And if you're selling and live in one of these subdivisions, you can get a quick check on the competition and see how sales are doing.

And while you're at it, you can click any subdivision name and instantly see all the homes that are currently for sale in there,
along with all the pictures, information and details.
**note - the figures below are accurate as of today, 4/28/08-AM.If you pull-up the listings next Tuesday, or a month from now, the number of active listings for any of the subdivisions will likely be different than stated here.

Subdivision	# For Sale	Avg List $	# Sold	Avg Sold $
GATED
Pima Canyon	18	$2,379,778	2	$2,085,000
La Paloma CC	38	$794,869	10	$618,950
Ventana CC	23	$1,395,665	5	$1,610,000
Skyline CC	19	$1,530,316	1	$764,500
Catalina Fthls 10	12	$1,369,354	2	$2,200,000
Sabino Mountain	7	$1,285,700	1	$1,449,000
Hacienda del Sol	3	$1,162,333	1	$725,000
Cobblestone	6	$2,093,833	2	$2,212,500
Foothills ll	3	$2,206,667	0	0
Sin Vacas	3	$885,833	4	$748,750
Bellas Catalinas	4	$1,211,000	2	$742,500
Finisterra	3	$2,798,333	1	$751,000
Pinnacle Ridge	2	$1,012,500	1	$1,000,000
Summit Finger Rock	4	$1,422,250	1	$810,000
Rockcliff	2	$1,189,500	0	0
Eleven Arches	2	$2,499,000	0	0
RiverGate Estates	2	$962,500	1	$625,000
Quail Canyon	7	$586,971	2	$444,950
NOT-GATED
Alta Vista	12	$1,131,242	1	$937,500
Cimarron	11	$830,257	3	$630,500
Coronado Fthls Est	13	$905,446	5	$814,000
Fairfield	18	$522,106	7	$483,286
Flecha Caida Ranch Est	16	$650,919	5	$686,400
Las Alturas	2	$673,500	1	$585,000
Shadow Hills	15	$638,427	5	$714,500
Catalina Fthls Est   1-9	58	$1,263,324	15	$926,553

see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

what do you prefer, a home in a gated or non-gated community in the Tucson Foothills?

The question of gated vs non-gated is always one of the first things to come up when I'm working with home buyers, particularly with people who are moving here from somewhere else are just beginning to figure out what's really important to them.
 
Gated communities offer more security, privacy, and an air of  exclusivity.
And if you're buying a second home in the Tucson Foothills, which will be vacant for much of the year, a gated community may offer some additional peace of mind as well.
But of course that security and privacy comes at a price.
You'll pay higher HOA fees in a gated community, to maintain the gate and to pay the gate attendants if it's a guard-gated community.
And homes in gated communities tend to have more common areas and landscaping that needs to be maintained, and the streets in gated communities are common areas and owned by the association and must be maintained (patched, resurfaced, etc) by the association. And in general, homes in gated communities are more expensive than those in non-gated. The average list price of homes in gated communities today is $1,274,334. In non-gated it's $741,203.

But in my experience, whether it's a full time resident or a second home owner, for those who can afford it, being in a gated community is often preferred.
However, there is one big limiting factor in gated communities.
Gated communities are newer communities, with newer homes than non-gated.
And if you're looking for a home from the 30's or 40's, a great Joesler perhaps, you won't find that in a gated community in the Tucson Foothills. None of the original Catalina Foothills Estates are gated.

Here's  a breakdown of homes for sale and sold in gated and
non-gated communities in the Tucson Foothills.
Currently there are 595 homes for sale in the Tucson Foothills.
232 of them, or 39%, are in gated communities.
363, or 61%, are in non-gated.

In the last 6 months 241 homes have sold in the Foothills.
82, or 34%, of the homes that sold are in gated communities, while 159, or 66%, are in non-gated communities.

That's the broad breakdown.
Here's how it shakes out by price, under and over $1,000,000.
0 - $999,999
421 homes for sale today
126, or 30%, are in gated communities
295, or 70%, are in non-gated communities

215 sold in the last 6 months
61, or 28%, are in gated communities
154, or 72% are in non-gated communities

Of those homes priced 0-$999,999 that sold,
-the average sold price in a gated community was $599,014
-the average sold price in a non-gated community was $483,094

1,000,000 & UP
174 homes for sale today
106, or 61%, are in gated communities
68, or 39%, are in non-gated communities

26 sold in the last 6 months
21, or 81%, are in gated communities
  5, or 19%, are in non-gated communities

Of those $1,000,000 + homes that sold,
-the average sold price in a gated a community was $1,785,071
-the average sold price in a non-gated community was $1,135,000

For a quick search of homes in gated communities in the Foothills
see TheFoothillsToday.com

days of inventory, in your price range, in the Tucson Foothills, 4/24/08

Here's a look at days of inventory (DOI) for single family homes in the Tucson Foothills. Overall, for all single family homes in all price ranges, the DOI computes to 11.7 months, which is about 2X the inventory that is considered normal. But there are three price ranges where no homes have sold in the last 30 days, and so DOI for those price ranges can't be calculated, and therefore the actual total DOI is indeterminable at this point. But lacking anything better, I'll call it
11.7 months, and counting.
That's why I break down DOI by price range, because as you'll see,
DOI varies wildly depending on the price range you're looking at
in the Tucson Foothills

Price	# For Sale	# Sold	Months of    Inventory
$0 - $400,000	100	18	5.5
$401 - $600K	135	12	11
$601 - $800K	122	13	9
$801 - $1.0m	68	6	11
$1.01-$1.250m	44	0	?
$1.251-$1.5m	46	1	46
$1.501- $2.0m	41	0	?
$2.01 - $3.0	29	1	29
$3.01 & UP	13	0	?
Total	598	51	11.7

**DOI, days of Inventory reflect the time period required to sell all the properties on the market given the number of closed transactions in the preceding month provided no new properties becomes available.
The last time I posted DOI figures was on March 18th, here>
days of inventory, in your price range, for the Tucson Foothills
and the total number of homes sold then was just one less than during the current 30 day period. But if you compare the two you'll see there are many differences in DOI by price range from then 'til now, and in general, DOI has increased across most price ranges.

If you're buying or selling a home in the Tucson Foothills, DOI in your price range is a key factor to know and seriously consider.
And obviously, if you're trying to sell your home, and it's priced at $1,000,000 and Up, you have lots of competition, and few buyers buying. You can't afford to ignore this.

see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

the villas at Sabino Canyon

As I mentioned the other day in, the condo sizzle fizzles 40 condo units are to be auctioned at The Villas at Sabino Canyon on May 10.
There are two 2/bedroom and one 3/bedroom floor plan, ranging in size from 1004 to 1209 sf, and three Starting Bid prices of, $89,000, $99,000 and $109,000, depending on size, location and views.

The brochure says to go to http://www.auctiontoday.com/ for additional photos and information, but as yet, there's no information there on the The Villas auction.
Until it becomes available on the web site you'll have to stop by
The Villas to get all the details, they do have a brochure, or call the auction office at, 1-888-582-7332

The Villas at Sabino Canyon - 7255 E Snyder Rd, northeast corner of Snyder & Kolb

As usual with these auctions, there's lots of fine print about the steps and procedures, terms and conditions, your rights and responsibilities, due diligence, bidding requirements, etc. Read it all carefully.

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

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more on % sale price/list price

Back in February, in a post titled sellers are more flexible than ever. what does that mean? I talked about why it's important to know the
% of Sale Price/List Price (92.44% at the time) for the area, or price range of the home that your are buying.

Despite being a pretty dry topic, some readers have expressed an interest in a more current and comprehensive look at the data for % sale price/list price.

So here goes,
From January 1 through April 15, 145 homes sold in the Tucson Foothills, for an average of 94.22% sale price/list price, an increase of almost 2% since February.
 
Here's how % sale price/list price breaks down by price range for those 145 sold homes.

$0 - $500,000 = 95.08%
(62 sold, 7@ 100%, 4@ 101%+, low 77%)

$500,000 - $1,000,000 = 95.60%
(66 sold, 6@ 100%, 1@ 101%, 1@ 104%, 1@ 106%, low 77%))

$1,000,000 - $1,500,000 = 90.96
(7 sold, 1@ 100%, low 76%)

$1,500,000 - $2,000,000 = 92.38%
(4 sold, high 97%, low 89%)

$2,000,000 - $3,000,000 = 92.63%
(5 sold, 2@ 100%, low 89%)

$3,000,000 & Up = 88.57%
(1 sold)

The variation in %'s between the different price ranges is no big surprise, but who'd a thought that homes are selling at, or above list price in this environment. (please note, in all cases the % sale price/list price is based on the most recent list price. So if a home was listed at $750,000, then reduced to $699,000 and sold for $670,000, the % is based on the $699,000 list price. That's how the MLS computes it)

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

inventory trends in the Tucson Foothills

Yesterday we reached a new high, or a new low, depending on which side of the aisle you're sitting on.
For the first time we cracked the 600 mark in the number of homes listed for sale, coming in at 601. 
But rather than blurt that out right away, I waited, thinking that it was just a momentary thing, and would drop below 600 before the day was out. That didn't happen. The trend continues today with 605 homes listed for sale in the Tucson Foothills.

This is all the more curious because for the greater Tucson Metro area, which includes the Foothills, the inventory of homes for sale is down about 10% from last year.

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

I've been seduced by staging, have you

Staging homes that are for sale has become a much used marketing tactic in the real estate business. Staging's been lauded, applauded and ballyhooed, about how staging your home will lead to a quicker sale and a higher price.
And in my experience, that's often true. Well staged homes sell quicker and for more money, because they look better.

And that's exactly why, as a buyer, when you walk into a staged home you should have all your antennae up, and look at them more carefully and with a much more critical eye.
It's easy to be seduced by staging.

I know from personal experience. I was seduced by staging long before staging was even a twinkle in a Realtors eye.
Many years ago when I was living in Chicago a friend told me about a loft for sale that he thought I'd like. It sounded great, so I went by to see it right away, and wow, this was the real thing.

A converted warehouse building in the River North section of Chicago, with tall wood beam ceilings, wide plank wood floors, a long row of 10' feet tall double hung windows, a freight elevator, and 2100 sf of open space. I was sold the second I walked in the door, but not by that stuff. 
 
The guy that owned the loft was a well respected artists rep, painters and sculptors were his speciality. So the tall brick walls were hung with big abstract art pieces, and here and there throughout the space were these really cool sculptures. Even in the bathroom.
Holy Cow! This wasn't just a loft I was buying, it was an art gallery. cha-ching cha-ching I bought it on the spot.

Once he moved out, along with all the great paintings and sculpture and bathroom art, and I moved in with my meager belongings, it didn't strike quite the same note of cool and sophistication. 
And it didn't look anything like an art gallery. cha-ching cha-ching
Know what you're buying.

see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

the miracle of overpricing

As I noted the other day in, 4/11/08, the pulse of the market in the Tucson Foothills there are a lot of homes for sale in the Tucson Foothills. About a 55% growth in inventory over the last two years, and sales down about 26% during that same period.
(disclaimer, yes there are pockets of relative strength in the market, but they too are getting weaker)

And while it's obvious to me that there is pent-up demand out there, there are buyers who are actively looking and would like to buy a home. It is also increasingly obvious that buyers resolve to not buy what they consider to be overpriced homes, is firming up, rather than weakening.

One sad consequence of all this is that we're beginning to see short sales and foreclosures in the Tucson Foothills. And while the numbers are still very small, there are more of them than I would have expected just a few months ago.

If you're trying to sell your home and it's not absolutely-positively competitively priced to sell in this market, then you're hoping for a miracle.
Overpriced homes are not selling. And beyond the dire consequences that the owners of some of these overpriced homes will face, by hoping for a miracle, they're also contributing to a growing glut of homes for sale in the Foothills. 589 for sale today. 

Here's one I saw recently - and aside from the short sale aspect, I could pull many others with a similar pricing history - that came to a sad ending because somebody was either way out of touch or hoping for a miracle.

Listed at $935,000 reduced to $919,900 reduced to $899,000 reduced to $875,000 reduced to $849,999 reduced to $815,000 reduced to $799,900. New agent comes on board, price reduced for short sale to $700,000. Sells in 1 day.

I'm sure this home would have sold for a lot more money than it did, if it was realistically priced from the beginning.

There are buyers out there and they're looking to buy well priced homes in the Tucson Foothills.

see thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

4/11/08, the pulse of the market in the Tucson Foothills

In the last two weeks;

105   homes have been listed for sale

90    homes have had price reductions

45    homes have gone under contract

31    homes have sold

588  homes are listed for sale in the Tucson Foothills today

I'm going to get off track here from the pulse of the market thing, because I think it's worth looking at a few simple longer-term numbers to get a handle on where we stand today with home sales in the Tucson Foothills. 

A year ago, in April 2007, there were about 460 homes for sale.
In July of 2006 (the earliest records I have) there were about 377 homes for sale. Today there are 588 homes for sale. 
And during that almost 2 year period, sales have slowed by about 26% in the Tucson Foothills.

So here we are with about 55% more homes for sale, combined with about 26% fewer sales. And all of it in a nationwide economic climate that is wobbly and uncertain.

I'm not a gloom and doomer, if anything, I'm a cheerleader for the Foothills, but I'm also a realist. The bottom line is that there's a growing and very basic imbalance here that cannot be ignored.

If you're trying to sell your home, and you haven't done so already, it's really time to cut to your bottom line.

Soon, the busy season for home sales in the Tucson Foothills (January - May) will come to a close and we will experience a seasonal slowdown in sales. It happens every year, there's no avoiding it.

If you're a buyer, you're in an enviable position.
The inventory is higher than I've seen it, prices are down, the % of sale price/list price indicates that sellers are very flexible, and interest rates are still very low.

see thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

**This data is for single family homes - no town homes, no condos - listed through the Tucson Association of Realtors® Multiple Listing Service.

$/sf, a handy rule of thumb guide

I do a fair amount of compiling and reporting of sales statistics for homes in the Tucson Foothills. I show how many homes have sold in one month, one quarter, a half year or year, and compare that to the same period in the previous year.
I compare average and median sale prices from year to year, show DOI (days of inventory) by price range, and generally try to present a comprehensive here's the numbers picture of what's happening with home sales in the Tucson Foothills.

But for some reason I've barely ever touched on one of the most commonly used measurements for determining the market price of homes. $/sf.

$/sf
$/sf is a handy rule of thumb guide to how much homes should be selling for in a particular subdivision or for a particular type of home within a certain area. And we're accustomed to using $/sf.
It's just like going to the butcher and buying meat.
Prime filet is $14.99/lb. You want 10 pounds, that'll be $149.90.
You only want 5 pounds, it's $74.95. Chopped chuck on the other hand is $2.99/lb.
It's usually not quite that simple with homes, but $/sf is a good place to start for a quick rule of thumb guide to prices.

Maybe the average sale price in the subdivision is $1,120,460,
and the home you're looking at is priced at only $890,000.
Does that mean it's a bargain. Not necessarily.

If the average $/sf of homes sold in the subdivision is $247.15,
just multiply that by the square footage of the home you're interested in - which happens to be one of the smaller homes in the subdivision, and listed for $890,000, or, $276.48/sf vs. the average $/sf of $247.15 X 3219 sf = $795,575 - and you have a quick reference of where that home falls on the price spectrum for that community.
In theory it works no matter how big or small the home is. Though all other things being equal, smaller homes within a subdivision generally cost more $/sf than larger ones.

In this example you might be paying for a small filet and getting a sirloin, or there may be a very good reason why that home is at the upper end of the $/sf costs in that community.
Nevertheless, you now have something to go on, and some investigating to do. What, if anything, justifies that price - 
new high-end kitchen and baths and new flooring, larger lot, more privacy, better views, all of the above, ..., none of the above.
In most subdivisions in the Tucson Foothills there are many things that can make a home worth substantially more or less than it's neighbors.
 
But if the price doesn't make sense, you now have a very clear and strong negotiating point to make with the seller.
$/sf, it's kind a like $/lb, Don't pay for filet and get sirloin.

Next on my agenda is to follow up with some $/sf costs for different subdivisions in the Foothills. 

see thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes

looking for a home in a gated community in the Tucson Foothills

Whether they're a full-time resident or a second home owner, many people like gated communities - for the added security and privacy they offer, and sometimes for the exclusivity factor too.

On my web site TheFoothillsToday.com I have a list of gated and golf course communities that are some of the most popular in the Tucson Foothills -
Pima Canyon , Sabino Mountain , Hacienda del Sol, Ventana CC,
La Paloma CC , Skyline CC, Sin Vacas, Bellas Catalinas, Pinnacle Ridge, Catalina Foothills Est 10 and more. But there are many others that are less popular and well known.

And in addition to being less well known, they're usually smaller, while some of them are also less expensive than you might expect for a gated community. If you're looking for a home in a gated community in the Tucson Foothills they're worth checking out.
  
Here's a selection of other gated communities, and all the homes for sale in each of them, arranged in more-or-less ascending price order;

Solace at Sabino Canyon, Sierra Catalina Est,  Shadows @ Sabino, River View Estates, Bonita Ridge Amended, Pontatoc Canyon Est, Rockcliff, Ventana Del Rio, Rivergate Est, -(Foothills II & La Puerta On Hacienda Del Sol - even though I include these 2 on a list of popular gated communities on my web site, they're less well known),
Canyon View Est, The Summit at Finger Rock, Quail Canyon,
Eleven Arches, Miramist At Ventana

I can help you find the home that's right for you, in any community in the Tucson Foothills
see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

are you looking for a home in Pima Canyon

If you are, there's a good selection to choose from in Pima Canyon today.
There are 18 homes for sale in Pima Canyon ranging in price from $1,095,000 to $5,900,000, and 3230 to 7065 square feet.
See them all here with just one click, from my
Gated & Golf Course Homes page.

Pima Canyon, which opened for business in 2000,  is one of the premier guard-gated luxury communities in the Tucson Foothills.
In my opinion it's the community that really put the Tucson Foothills on the map for luxury home buyers. 

For more on Pima Canyon and the luxury home market in the Tucson Foothills today, see  Pima Canyon gave Tucson a boost  &  
 Tucson Foothills Market Trends 

I can help you find the home that's right for you, in Pima Canyon or any community in the Tucson Foothills.

see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

Open houses in the Tucson Foothills

Looking online at the Long Realty site and in the local paper, I see a lot of Open Houses scheduled for today in the Tucson Foothills.

Homes priced from the low $200's to over $3,000,000 are being held open today throughout the Foothills, by Long Realty agents and agents from other real estate brokerages.

I've always been a fan of open houses, because judging by the number of people who show up, and the fact that they seem to be enjoying themselves, it's obvious that people shopping for homes like open houses. 
Whether they're serious shoppers or just toying with the idea of buying a home and want to get a feel for what's out there, 
open houses are an easy, no-pressure way for them to do it.

And unlike the old days, when you went to an open house with little or no knowledge of what to expect, with the internet and all the information and pictures that are available on houses being held open, today you can pick and choose the homes that are of interest to you. 

That's how I see it. But I'd like to hear your opinion about what you like or don't like about open houses, and any suggestions you have for how open houses could better serve you.

Yes, I'm doing one today too. 3718 E Rose Peak Pl
Hope to see you there,

see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

sellers are more flexible than ever. what does that mean?

We often hear ' sellers are more flexible than ever'.
But how much more flexible are they, and what does that mean to me as a buyer.

Let's take a look at what it means here in the Tucson Foothills.
Since the beginning of this year, 1/1/08 thru today, 59 homes have sold in the Tucson Foothills.
The sold price of those homes pretty much runs the gamut of home prices in the Foothills, from $204,900 to $3,100,000.

And the average % of sold price/list price for all those homes was 92.44%. So those 59 homes sold for an average of 92.44% of the list price.

To illustrate what that means to you as a buyer, let's use a fictitious home in the Tucson Foothills that's priced at $700,000.

If we apply the 92.44% average SP/LP to our fictitious $700,000 home, that home would have sold for $647,800 this year.

During the same period last year, in 2007, the % of SP/LP was 95.87%, and that  $700,000 home would have sold for $671,090

In 2006, the % if SP/LP was 96.10, and the $700,000 home would have sold for $672,700.

2005, and the % of SP/LP was 97.50, and the $700,000 home would have sold for $682,500.

So, ' sellers are more flexible than ever', can mean big savings to you as a buyer. And it is very much a component of the market in the Tucson Foothills today.

In the example above, of the 59 homes that have sold, the individual % of sold price/list price ranged from a low of 77%, right on up to 100%. Because certain areas of the Foothills and some types of homes are more in demand than others, and some homes are well priced and others aren't.

So in addition to the list price and the comps, and everything else that you are considering, it's worth looking at the
% of sold price/list price. But do it for the price range, type of home, and the community within the Foothills that interests you.
It may give you and edge.

see TheFoothillsToday.com
to search for and learn more about Tucson Foothills Homes

Tucson Foothills homes, buying & selling them

In the course of doing my real estate business in the Tucson Foothills, I work with people from many different backgrounds, and with varying levels of experience, comfort and expectations about buying and selling a home. And many of them are fairly new to the area. They've come here for a job, or to buy a second or retirement home in the Tucson Foothills. So it's all new to them.
During the early stages of our relationship, whether they're buying or selling, experienced or not, I try and prepare my clients for what lies ahead. I spend time with them reviewing the process of buying or selling a home, how it works here in Arizona, and what I bring to the party.

It's not rocket science, but it's no longer a simple process either,
as evidenced by the 9 pages and 394 lines in the standard Arizona purchase contract, plus the many additional pages of required addendum to the contract.

I go over the typical stages and the time frames involved, and what happens at each of them, we review the contract and related paperwork, and the options, rights and responsibilities of each party according to the contract.
I talk about what to expect if everything goes smoothly, and what are the possible and most likely areas where things could get bogged down, and what happens if they do.
I answer their questions and respond to their concerns.
I often follow this up with an email that summarizes the key points of our discussion, and suggest that they carefully re-read the contract, the listing agreement, and whatever other paperwork is appropriate, and to ask questions if they have any. I also refer them to web sites that offer information and advice on specific topics that may be helpful.

I want every one that I work with to have a good understanding of the process and how it works. And I try to tailor this discussion to the individual needs of each client, in regard to both their familiarity with the process, and their personal comfort level and apprehensions about buying or selling a home.
Every one is different. Some people want and need, more attention, guidance and hand holding. Others are more seat of the pants.

Whatever their needs are, and whether it's a $200,000 condo or a grand $2,000,000 home in the Foothills, every client deserves and appreciates having a good understanding of how we are going to get from here to there.

the views have it in La Paloma & Ventana

I'm closing escrow today with some second home buyers,
on a home in the gated-golf course community of La Paloma in the Tucson Foothills. It's a wonderful home on a great lot that overlooks the golf course, and with big views of the Catalina mountains beyond.

But because my clients live in another part of the country, and weren't able to drop everything and get out here licketysplit every time a home that looked good came on the market, it took us almost a year to land this one. And yes, even with the slowdown, the really good homes with golf course and mountain views in La Paloma or Ventana are scarce, and get snapped up quickly - as long as they're reasonably priced. So more than a few that looked very good, were gone before my clients could even get to town. It was frustrating for all of us.
But in the end it was worth the wait, because it's a great second home at a fair price, and they're very happy with it.

On the other hand, some other out of town clients of mine who wanted the same type of second home in La Paloma with great views, ended up buying it sight unseen. From the very beginning they told me that they would never be able to get out here in time to see it first, before making an offer. So as soon as the right one came along, I took a lot pictures and after talking with them about it in some detail, we made an offer, got a counteroffer, and soon had an accepted contract. And we went through inspections and escrow and closed on the house, before they ever saw it. And we did it quickly, start to finish it took about five weeks.
And when they did see it, they too were very pleased.

Every time I've worked with clients wanting this type of home - with a great view in La Paloma or Ventana - it's always been a matter of having to act quickly, or lose out.  It's simple supply and demand -more people want one of these homes than there are homes for sale, particularly at this time of year when the snowbirds are here.

But if having a view isn't important to you, then it's another story.
You can take your time and shop around, because there are usually quite a few to choose from, and of course you'll have a lot more bargaining power to boot.

TheFoothillsToday.com 
to search for and learn more about Tucson Foothills Homes, including second homes in La Paloma, Ventana and other great Foothills locations.

get a home inspection

In the picture below, you're looking at the access door to the spa motor, for the spa tub that's located in the master bath of a home in the Tucson Foothills.
If you look real close on the right hand side, that black thing back there is the spa motor.
So when something goes wrong with the motor, this is where the repairman is supposed to go to get to it.
But unless your repairman is Harry Houdini I think your days of luxuriating in a hot bubbly spa may be over.
Somebody goofed here big time, those 2x6's shouldn't be there.


And in the picture below we're looking at the air supply and return vents for the heating/cooling system in one of the bedrooms - of the same house. Those vents are 16" apart, and that's too close. Being that close dilutes the effectiveness of both the supply and return vents. And this happens to be in a west facing bedroom, so in the summer when the afternoon sun is blazing down on that bedroom,
it will be difficult, and maybe impossible, to keep it cool.


These and some other items, that are less photogenic, were discovered during a home inspection where I was representing the buyers of a home in the Tucson Foothills.
The sellers of this house bought it brand new about 4 1/2 years ago, directly from the builder. They didn't use a Realtor, and apparently they didn't have a home inspection done when they bought it.
Like many people, they may have just figured, why have it inspected, it's a new house, what could be wrong, and if anything goes wrong we have a 2 year builder warranty.
If they had discovered these things back then, it's very likely that the builder, anxious to sell the house, would have corrected these items quickly and with no fuss. 
Now, 4 1/2 years later, the builder, though still obligated to correct items that were built incorrectly, is much less likely to jump thru hoops to get it done.
New home, previously owned home, it doesn't matter, get a home inspection.

making a real estate deal, the old fashioned way

In representing some second home buyers recently in the Tucson Foothills, I had the rare pleasure of doing the deal for the purchase of the home with a verbal agreement.
Circumstances necessitated this.

I had filled out the 9 page purchase contract plus 3 additional pages of required addendum and faxed it all to the listing agent.
As I was faxing it, I called him to be sure that he was receiving the fax. Time was of the essence here, and we needed a quick response with no glitches. So of course his fax machine broke down after receiving the first two pages of the contract, kaput, and because of circumstances he was not able to leave where he was to receive the fax somewhere else. 
So we talked about it, and agreed that we'd do the offer verbally.
I conveyed the details of the offer to him as he asked a few questions and took some notes.
And the seller, who was in a wilderness mountain top area for the next day and a half, and only available sporadically by cell phone, did not have access to the internet or a fax machine either.
So the listing agent verbally conveyed our offer to the seller, whereupon he and the seller came up with a counter offer and verbally conveyed that counter offer to me. And after discussing the counter offer with my client, we came up with a second counter offer, and I verbally conveyed that to the listing agent.
After discussing counter offer #2 with his client, the listing agent called me back to convey their acceptance of our counter offer.
We had a deal, and we did it all in about 90 minutes, with no paperwork and no signatures, just our word.
A day and a half later, when everyone was re-connected to the grid, we simply reduced our verbal agreements to writing, everyone signed on the dotted line, and now we had a written binding agreement.

During the 90 minutes of verbal negotiation, my client asked whether we could depend on the listing agent and the seller to live up to the verbal agreement, as I'm sure the listing agent had a similar conversation with his client. I know the listing agent, and I assured my client that in my judgement, the listing agent's word was good, and that he would not have agreed to this if he was not confident that his client would follow through as agreed. And that was that.
We proceeded as if we had a deal, and in the end we did, with no squabbling, quibbling, and no back-pedaling. 
What a pleasure.

then and now, in the Tucson Foothills

When the Tucson Foothills were first developed in the early 1930's,
local power brokers and politicians had been campaigning to change Tucson's image from that of a health destination for the sick, to a resort destination for affluent east coast and midwestern families.
The Foothills, with it's beautiful natural desert environment set against the back-drop of the Catalina Mountains, offered the perfect setting for the large and luxurious homes that they envisioned would attract this elite crowd. As a result, the first homes built in the Foothills ranged in size from about 5000 to 10,000 square feet, and were located on beautiful natural desert lots of 5 to 15 acres or more. Soon the Tucson Foothills took off as a winter destination for the rich and famous, and to this day, those homes from the 30's are amongst the most treasured residences in the Old Foothills.
But these days, you don't need to be sick, or rich and famous to enjoy the beauty of the Foothills. As the popularity of the Tucson Foothills has grown, it now includes a diverse group of winter visitors and full-time residen