Tucson Real Estate News

Tucson Association of REALTORS® recently released the April 2008 sales figures, and the news shows conditions improving slowly, slightly, but improving nonetheless:

• Home Sales Units increased 8.1% from March to April (900 to 973)
• Pending Contracts increased 9.71% (1410 to 1547)
• Active Listings decreased 2.37% (9022 to 8808)
• New Listings decreased .12% (2444 to 2441)
• Median Sales Price decreased by 2.5% from $200,000 to $195,000

While some people may bring the argument that a decrease in Median Sales Price could be a bad thing, I see it as a positive factor with the summer buying season coming on--more affordable housing and good interest rates can mean that people who previously thought that home ownership was out of their reach could become interested in making that dream come true.

With increased activity and inventory becoming more manageable, the market stability that has been forecast for our metro area looks more and more like a reality.

Here's to a good summer!

          Kent Simpson

To most people, the words Tucson and space exploration don't necessarily go together.  Nevertheless, the University of Arizona and Tucson have a rich history of contribution to NASA and the field of space exploration that dates to the 1960s.  
                                                      
                                                      (NASA Artist Rendering)

Memorial Weekend, the Phoenix Mars Mission is scheduled to land on the surface of The Red Planet and Tucson will be celebrating the first public university-led mission in NASA history.

The parties start 7 PM Saturday, May 24 at the Loews Ventana Canyon Resort with a Mars In Tucson Party, hosted by Phoenix Mars Mission Specialists.

A landing celebration on campus is open to the public as well, on Sunday, May 25, from 3pm to 8pm.  The party will be held in 3 locations at once with live feeds from the lander, educational exhibits and much more: 

• Kuiper Space Sciences Building
• Sonett Space Sciences Building
• Flandrau: The UA Science Center

Children of all ages are encouraged to attend this historic event.  Phoenix Mars Mission/U of A Page 

Real estate transfer taxes are a fixture in some states and localities...and starting to rear their ugly head in Arizona, too.  This January, Tucson started charging a sales tax only on condo-conversions. 

A real estate transfer tax punishes homeowners who move from one house to the other, is biased against people with lower incomes, damages equity and creates double taxation.

The Arizona Association of REALTORS® is lobbying hard for an amendment to the state constitution to prevent these insidious taxes from being used anywhere in the state.

Support NO NEW HOME TAX by voting yes on the ballot measure.  For more information on how to protect your home and property from double taxation visit www.rallinow.com

          Kent Simpson
 

NAR has posted details on 2 bills originating in the House that could have positive results for the public, and by these benefits, the RE business in general.  Both bills are very different and will affect different segments of the population.

Hopefully, the tax credits offered will stay intact and be available to those who can benefit most from them.  To see what the bills' provisions are, click on this link: 

Tax Provisions - Mortgage Protection and Foreclosure Relief Legislation
HR 5720 and HR 3221

 

Saturday night was an evening of fun, laughter and cameraderie at the Tucson Association of REALTORS®.  The Pantano Rotary Club teamed up with TAR to host their 2nd Annual Kentucky Derby "Nite At The Races" fundraiser for The Hearth Foundation, providing shelter for homeless women with children, and other Rotary charities.

                                          

The evening was true to the theme of horse racing, with some attendees dressed in their best Kentucky Derby style finery (I haven't seen hats like that since....well, the Kentucky Derby!).  Projected on wallscreens, 10 taped horse races were shown, with attendees betting "Pantano Bucks" on their favorite entries.  Winners could choose to get more "Pantano Bucks" or redeem them for raffle tickets for the donated prizes.

All in all, the atmosphere was one of conviviality and fun, with a warm feeling (the wine?) in the heart that all of this was benefiting a good cause.

I want to thank Lauren Smith-Klase of Pantano Rotary Club and Title Security Agency for inviting me to this event--she can count on me to buy a few tickets next year!

*I do have to hope that the guy reading the raffle tickets next year has better lighting--there were 2 big screen TVs given away.  The same person, #66, won both of them.  I'm not sure, but chances are that one ticket was read upside down, as in #99??  No worries, maybe the karma gods will have me winning a week in Cabo next year!  LOL

           Kent Simpson
 

The racing season is in full swing at the United Sports Arizona Race Park.  With a busy schedule coming up in May, my favorite driver (and buddy), Glenn Littrell, & the other Booyah Racing entry in the SuperStock class are in fine shape going into the meat of the season.  Dirt track racing will go on all summer long!

Eric Gibson, last year's champion, is on a roll, staying atop the standings with yet another win in the last outing.  Billy Williams (Booyah's other entry) and Littrell are in the top 5 despite a few setbacks here & there as they "dial in" their new cars.

*Special note:  Roy Gibson, Eric's father debuted in fine style last week with a 19-point effort.  He hasn't been behind the wheel in a few years, preferring to work on his son's car.  It sure is nice to see him back on the track!

Here are the point standings as of April 30:

1st     6 Eric Gibson             271
2nd    1 Terry Hill                237
3rd     33 Billy Williams        193
4th     22 Dwayne Hogan      161
5th     88 Glenn Littrell         116
6th     17 Daniel Stricker      111
7th     28 Jim Skaggs          107
8th     11 Chris Odom          103
9th     40 John Buerger          92
10th   22b Dana Boatright      90
11th   19 Paul Rios               85
12th   12 Steve Truso            72
13th   13 Jeff Bennett            48
14th   50 Randy Silber           46
15th   10 Tommy Hussak       38
16th   3 Brad Whitfield           32
17th   21x John Hiestand       21
18th   28x Buji Lacy               20
19th   61 Roy Gibson             19
20th   02x Larry Brigner         19
21st   27 Bob Davis               19
22nd  222 Rod Hiestand        17
23rd   12 Jody Haynes           17
24th   7k Brandon Roper        17
25th   12T Chris Tipton          16
26th   1H Marty Hussak          15
27th   55 Lenard Milholland    14
28th   0 Mike Brigner             13
29th   99 Doug Paxson            9
 

 

           Kent Simpson
 

A little while ago, I wrote about Passages of Tucson, an exciting new multi-use project that is going to occupy around 400 acres in SouthEast Tucson and promises to provide dynamic momentum for the Tucson real estate market.  The project is slated to be the largest of its kind in North America.  Yesterday, the company announced the latest Development Plan in concert with accepting interest letters for businesses wanting to locate in The Passages.

For more information, visit their website:  Passages of Tucson

           Kent Simpson