Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Well I can not say I believe, but what happened in February is sure better than I thought would happen. Don’t forget we just had 28 days to get these numbers. If March comes close to the same numbers I will feel that we may be out of the woods in TUCSON for housing. Every stat that I watch was really good.
Now, the Economy still worries me. The sequestration is not as bad as the White House tried their darnedest to paint a bad picture for us, but it really was not the best idea, as everything should have been cut a small percentage to start reducing the bloated government we have now. What is wrong with a freeze except for essential jobs which probably is our USA security. You and I have to spend less so why not the government? Later!!
I do see prices going up and a few more months of lower interest rates but they have increased in the last month by almost a !/2 % increase. I see some loosening of down payments and possibly credit scores as the loans are getting tougher on some. Are we looking at the same market for loans that got us into trouble? Not everyone deserves to own a home. No more mirror tests please, as it hurts the good ones that did things right, but got hurt in the burst of the bubble.
| Sep. 2012 | Oct. 2012 | Nov. 2012 | Dec. 2012 | Jan. 2013 | Feb. 2013 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $182,041 | $175,850 | $182,539 | $183,011 | $182,378 | $186,482 |
Median Sales Price | $144,950 | $143,000 | $144,627 | $147,500 | $145,000 | $149,000 |
Total Units Sold* | 938 | 1074 | 994 | 942 | 884 | 951 |
Active Listings | 3845 | 4195 | 4430 | 4449 | 4459 | 4325 |
Days On Market | 45 | 49 | 51 | 55 | 57 | 58 |
Listings Under Contract** | 2409 | 2364 | 2237 | 2022 | 2415 | 2680 |
Sales Over $500,000 | 28 | 26 | 29 | 33 | 31 | 32 |
| The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables. * Closed during the month. ** For the current month (not the total listing under contract) |
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See the numbers and especially the Active Listings. Fewer Short Sales and Foreclosures and more real Sellers, who you can work with. I have two Short Sales going on right now, and one has FNMA behind it. What a piece of work they are. Five months to get them to a realistic price that the buyer could live with. Major road at the rear and they did not want to make any adjustments to the price. Finally, it is coming together. If you are a buyer that has time than look at a REO or Short Sale.
I am sorry, but I will delay my thoughts on our Economy for a while more. I just really do not want to say what I really feel about the jerks that are working , or should I say, not working for us. We must cut spending, reduce taxes and loopholes, and look at entitlements very seriously. I hate saying that about entitlements, but we are all going to work longer and need to make some hard decisions on how we handle entitlements, if they are still going to exist. I still think we were all robbed when they opened the Lock Box to pay for other things and issued IOU’s. Obama care is going to cost everyone!! The middle class? will probably pay $1000 more, for health care than before OBummer care hit the scene.
It looks like now is the time to buy before prices and rates get away. Call me to start the process.
Mar 18, 2013 No comments yet Share