13OCT09 GREEN VALLEY REAL ESTATE NEWS FROM CATHY AND TOM WILLIAMS...
Hi again, folks – it’s Cathy/Tom Williams and Cathy’s son Terry Lang of Coldwell Banker Residential Brokerage reporting in again, and as always, if you’d rather NOT get these newsletters in the future, we’ll remove your E-Mail address promptly upon request.
As you may have seen from our recent special edition, our big news is that Cathy’s son Terry Lang has joined our Real Estate team, and he’s off to an outstanding start. We’re very happy to have him, of course, but now you get THREE agents for the price of one, which means even better service for you. If you have any questions whatsoever about Southern Arizona Real Estate, please contact any of us at any time: lang_terry@yahoo.com (that’s lang_terry) and 520-306-8903 - Terry; cathywilliams2@earthlink.net and 520-465-3663 - Cathy; and my contact info is tomwilliams1@earthlink.net and 520-548-9686.
Summer’s over, and we now believe the Real Estate Market in Green Valley is hitting bottom – finally! Please note that this is only our BELIEF at this time, as the numbers always rule, but if we’re correct, we’ll start to see Average Sold Housing Prices begin to rise in the JAN-FEB-MAR timeframe. We’re stating this even though there’s a DECLINE in Average Sold Prices this report, as you’ll see, but we still think we’ve hit bottom. Here’s why:
A.) We’re approaching the most active time of the Real Estate season, when more Sellers put their homes on the market, and in October/November we usually see a significant increase in the number of homes for sale. This report, the number of homes for sale increased by only a relatively small amount from last report: 832, from last report’s 781. While that’s a 6.5% increase, in past years we’ve seen this number increase by as much as 10-15%;
B.) The number of homes sold has also increased again, even though we’ve just passed through the slowest time of year for Real Estate – from 504 to 538, so Buyers have been active;
C.) When you have relatively fewer homes for sale, and more of them being purchased, you have an increase in demand, which of course eventually leads to price increases.
We also have all the other reasons for demand increases cited many times before:
D.) THE NUMBER OF BABY BOOMER BUYERS CONTINUES TO INCREASE;
E.) Green Valley itself is BECOMING MORE WELL KNOWN NATIONALLY;
F.) Buyers from the EASTERN US/CANADA ARE MORE FREQUENTLY OPTING FOR ARIZONA VS. THE HURRICANE-PRONE SOUTHEASTERN US;
G.) THE WARM, DRY GREEN VALLEY CLIMATE IS BECOMING MORE AND MORE APPEALING TO RETIREES;
H.) HOUSING PRICES HERE ARE COMPETITIVE WITH OTHER PRIME RETIREMENT AREAS;
I.) DEVELOPERS ARE GOING TO RUN OUT OF ROOM TO BUILD IN GREEN VALLEY PROPER – we think in the next 3-5 years* or so. This means the ATTRACTIVENESS OF GREEN VALLEY ITSELF VS. THE SURROUNDING AREAS, where building is still going on, SHOULD HAVE A POSITIVE IMPACT ON HOUSING PRICES IN GREEN VALLEY PROPER, WHERE HOMES ARE ELIGIBLE FOR GREEN VALLEY RECREATION.
*NOTE We had been predicting 2-4 years on this, but Fairfield Homes just announced that they’re building an additional 1200 homes on land they own in the Southern Canoa Ranch area. This extends this timeframe out a bit, of course, and PLEASE SEE # 4 BELOW – CATHY, TERRY AND I CAN ADD SIGNIFICANT VALUE IF YOU’RE INTERESTED IN HAVING A NEW HOME BUILT.
As mentioned above, THE NUMBER OF HOMES SOLD HAS INCREASED SINCE JULY - FROM 504 TO TODAY’S REPORT OF 538, WHICH IS A 6.75% INCREASE over the period. This includes all of the MAY-SEP timeframe, the slowest time of year for Green Valley Real Estate, which in turn means BUYERS HAVE BEEN MORE ACTIVE, snapping up homes at rock bottom prices. We think this trend will continue, so again: Cathy, Terry and I believe we’re hitting bottom, which means that RIGHT NOW MIGHT BE THE BEST TIME EVER TO BUY A PROPERTY IN GREEN VALLEY.
And now to the numbers – please note that the first set of numbers was reported last time (as of July 25, 2009); the second set was obtained as of October 11th, 2009, and is a ROLLING AVERAGE that’s compared to the July numbers:
JULY/09 NUMBERS: RESIDENCES SOLD BETWEEN 11/30/2008 AND 7/25/2009:
NUMBER SOLD: 504 – UP 22.6% FROM THE 411 REPORTED IN THE APRIL NEWSLETTER;
AVERAGE NUMBER OF DAYS ON THE MARKET: 162 – UP SLIGHTLY FROM APRIL (2.53%);
AVERAGE SALES PRICE: $185,690;
% DECREASE IN PRICE FROM APRIL’S REPORT: 1.21%;
MEDIAN SALES PRICE: $165,000 – DOWN 1.79% FROM APRIL’S $168,000
OCTOBER/09 NUMBERS: RESIDENCES SOLD BETWEEN 11/30/2008 AND 10/11/2009:
NUMBER SOLD: 538 – UP 6.75% FROM THE 504 REPORTED IN THE JULY NEWSLETTER;
AVERAGE NUMBER OF DAYS ON THE MARKET: 164 – ABOUT THE SAME AS THE JULY REPORT;
AVERAGE SALES PRICE: $179,672;
% DECREASE IN PRICE FROM JULY’S REPORT: 3.24%;
MEDIAN SALES PRICE: $160,000 – DOWN 3.03% FROM APRIL’S REPORT
FINALLY, SINCE LAST REPORT THE PERCENTAGE OF PRICE REDUCTIONS OF HOMES CURRENTLY FOR SALE HAS DECREASED. The number this time is 36.05% of the homes listed, and last report it was 39.6%, which means SELLERS ARE STARTING TO GET SLIGHTLY BETTER OFFERS FOR THEIR HOMES. We’ll continue to report this, but 36.05% is STILL a LARGE PERCENTAGE OF PRICE DECLINES, and there will be MORE DECLINES YET as OWNERS STRUGGLE TO SELL THEIR HOMES. I apologize for repeating this, but if we’re correct about prices beginning to rise this winter, THERE MAY NEVER BE A BETTER TIME TO BUY A HOME THAN RIGHT NOW, WITH ABSOLUTELY OUTSTANDING VALUES AVAILABLE. There were a total of 6 (SIX) price INCREASES this time.
2.) We have six EXCELLENT listings, plus we have firm commitments from Sellers to list three additional beautiful homes soon. TO SEE DETAILS ON THE SIX LISTINGS, INCLUDING PHOTOS, PLEASE CLICK ON OUR WEBSITE URL: http://www.cathytom.com and then click on “Our Featured Listings”. Here are brief summaries of each:
A.) WONDERFUL HOME IN THE LEGENDS – this 1630 Sq’ home is PRICED TO SELL AT ONLY $224,900, and it REALLY IS BEAUTIFUL. It has an open floor plan, terrific southwestern décor, nice mountain views, 2BR’s + a den, 2BA’s, a 2CG, and a nice gas FP. A well maintained Nicklaus Model with beautiful ceramic tile in the traffic areas, plus nice carpeting in the bedrooms and den, 2177 Espinosa is an outstanding value – PLEASE TAKE A LOOK!
B.) EXCELLENT LISTING IN DESERT MEADOWS TOWNHOMES – 1124 S. Alpine Circle is also priced to sell at only $89,900 – as of today, this is one of the LOWEST PRICE/SQ’ ($82.70) IN THE SUBDIVISION, and it would a terrific investment or place to live. It comes FULLY FURNISHED, AND HAS 2 BEDROOMS, 2 BATHS AND A NICE, PEACEFUL BACK PATIO. The roof has been recoated and comes with a 3 year warranty, and the carpets have been professionally cleaned;
C.) SHORT SALE IN LAS CAMPANAS – We’re featuring a VERY WELL MAINTAINED 2BR-2BA-2CG, 1399 Sq’ single family home that’s priced well below what the owner paid for it. With CERAMIC TILE, TILE ROOF, VAULTED CEILINGS, AND ALL APPLIANCES IN GOOD CONDITION, the home is almost like new. THE BANK CONTACT IS IN AGREEMENT WITH THE LIST PRICE OF ONLY $175,000, which obviously is an outstanding value, and the address is 287 N. Crescent Bell;
D.) BEAUTIFUL NEW LISTING IN SAN IGNACIO VISTAS 2 – Here’s a gorgeous, well maintained 2,087 Sq’ home priced EXTREMELY WELL at ONLY $229,900. That’s just $110.16/Sq’, and it has 2 bedrooms, 2 baths, den, family room and a 2 car garage. It also has a low-maintenance tile roof and there’s very nice ceramic tile at the entryway. Located at 1894 W. Mintbush, this home will not last long!
E.) VERY NICE INVESTMENT PROPERTY OR MOVE RIGHT IN – 1651 San Luis in Desert Meadows II has 3 bedrooms, 2 baths, brand new carpeting, very nice views of Elephant Head and the Santa Rita Mountains and a nice workshop off the kitchen. Also attractively priced at $144,900 (only $102/Sq’!), it’s been pre-inspected and all warranties transfer to the Buyer;
F.) A TREASURE OF A NEW LISTING IN THE FOOTHILLS! - 323 Mission Twin Buttes is priced at only $279,900 and it has absolutely killer Mountain views. Located at the end of a very pleasant driveway on a 3+ acre lot, it has 3 bedrooms, 2 baths, den, charming beehive fireplace and a pretty courtyard. It overlooks a large common area where wildlife abounds - we’ve already had a lot of showing activity on this beautiful property, so it won’t last long!
THREE SNEAK PREVIEWS – If you have interest in any of these properties, please let us know, as we have Seller commitments to list them over the next few weeks:
A.) An absolutely gorgeous 2,000+ Sq’ home in San Ignacio Heights. This home features terrific, unobstructed mountain views and looks out over a large common area. The interior is breathtaking and has been completely remodeled – granite counters, hardwood flooring, tastefully decorated – the price will be in the $400,000’s.
B.) A very nice 2 bedroom, 2 bath, 1460 Sq’ Single Family Home in San Ignacio Vistas II. It has tile flooring, granite counters, mountain views and a 2 car garage. It’s been well maintained, so it’s in good condition, and the price will be in the area of $209,000;
C.) A 1750 Sq’ townhome in Townhouse 6 – fully furnished with beautiful front and back courtyards, this home also has very nice mountain views. It has a 2 car garage and an Arizona Room, and it has good rental history. Price will be in the area of $179,000;
3.) RENTAL SECTION: Cathy, Terry and I are helping a growing number of our valued clients with homes for rent. They’re below, and if you or anyone you know has interest in renting a property, please contact these owners directly. PLEASE NOTE: WE’D APPRECIATE IT IF YOU’D TELL THEM YOU GOT THEIR NAMES FROM US:
A.) 2751 Calle Morena in Desert Hills II: OUTSTANDING 2BR+Den, 2Car Garage + a separate Golf Cart Garage, 2200Sq’, Mtn and Golf Course Views, 55Yrs Old+ Area, Green Valley Rec, 3 golf courses within 3 miles, good condition. $1950/Mo., Winter months; $950/Mo., year-round. Call or E-Mail Norm Nelson, 520-625-6888; normn@cox.net;
B.) 1866 Carrizal in Desert Creek (northwest Green Valley) - Beautiful, fully furnished 2 bedroom + den/third bedroom, 2 bath, 1350 Sq’ Single Family Home with a 2 car garage. Great condition, built in 1998, wonderful back patio with nice mountain views and water feature. Available for either long or short term rentals. Please contact owner Ron Klopf at iamron@cox.net or 520-465-4876;
C.) Immaculate 2,000 square foot single family home in the High Pointe subdivision – 2 full bedroom suites, each with its own bath, open floor plan, gas fireplace, back patio barbeque grille, close to Homeowners Association Swimming Pool and cabana, Green Valley Recreation membership – contact Bob Tappe, owner: vintage049@aol.com;
D.) Very nice single family home in the Desert Creek subdivision – 2BR, 2BA, gorgeous mountain views, built in 2003, large lot, 2 car garage, good condition, gas fireplace, open floor plan. Address is 1560 Tubertama - contact owner Glenn Morgan, golfmorgan@yahoo.com;
E.) Cute, 1189 Square Foot, 2 bedroom, 2 bath Townhome in Desert Hills III, furnished with outstanding Santa Rita Mountain Views off the back patio. Well maintained inside, 1 car carport, very nice curb appeal, popular area near large rec center, elks club, convenience store. Contact Owner Jeff Frider, jpfrider@cableone.net;
F.) Very nice 1348sq’, two bedroom plus den, 2 Bath Townhome, furnished with a 2 car garage in The Springs. Very near a major Green Valley Rec Center, which has tennis courts, a large swimming pool and meeting/hobby rooms. Contact Owners Dee and Tom Tschetter (pronounced like cheddar cheese): 520-399-9451; tjtschetter@yahoo.com;
G.) Beautiful 2 bedroom, 2 bath, 1200 square foot townhome nicely furnished in the Las Campanas subdivision in the center of Green Valley. Built in 1997, excellent condition, near a major rec center, 1 car garage. Contact Owners Norm and Marcia Klapperich, kfsinc@iowatelecom.net, (641) 737-2357;
H.) 1100 Sq+ Single Family Home in Desert Meadows I. Nicely decorated, 2 bedrooms, 2 baths, nice front and back yards, single car carport. Contact Owners Eric and Debra Hueftle (heft-lee), ehueftle@aol.com, (303) 369-8372;
I.) Very attractive, cozy, 650 square foot, 1 bedroom, 1 bath Casita with gorgeous mountain views in Desert Hills Casitas. Assigned covered parking, tastefully furnished, very nice. Contact Owner Ruth Whitaker, (520) 393-6695;
J.) AVAILABLE NOW: Another beautiful 650 square foot, 1 bedroom, 1 bath Desert Hills Casita with gorgeous mountain views – also tastefully furnished with assigned covered parking – contact owners Cece and Joe Gunton, cgunton@cox.net; (520) 399-1151;
K.) Completely redone 2BR, 2BA townhome in the heart of Green Valley, only a few steps to a beautiful swimming pool. Brand new HVAC-flooring-windows-counters-cabinetry-washer-dryer-dishwasher: just a gorgeous, completely furnished residence. Contact Cece Gunton cgunton@cox.net; 520-399-1151;
L.) SPECTACULAR UNOBSTRUCTED MT. AND GOLF COURSE VIEWS!! Beautifully decorated 1600 sq.ft. 2 Bd, 2 Bath plus den split floor plan Townhouse with 2 car garage in 55+ gated community (4041 S. Wolf Run Road - The Springs) close to a paved walking path and near major G.V. Rec center. Call 520-390-1993 or e-mail Dickenman@aol.com for details.
4.) AS WE ALWAYS SAY, IT PAYS TO LET US HELP IF YOU DECIDE TO BUILD A NEW HOME. Developers DO NOT CHARGE BUYERS MORE WHEN THEY’RE REPRESENTED BY REALTORS, and we have had GREAT SUCCESS WORKING WITH NEW HOME BUYERS by ensuring UPGRADES ARE INSTALLED PROPERLY, IDENTIFYING-CORRECTING BUILDING IRREGULARITIES, ETC. In short, we make the building process work much more smoothly, SAVING BUYERS TIME AND MONEY, and we’d love to help you, too.
5.) INTEREST RATES HAVE DECREASED SINCE LAST REPORT. As of 10/13/09, PER OUR FRIEND DAVE OWENS OF POWERSOURCE MORTGAGE (800-971-7791), THE CURRENT FIXED RATE FOR A 30 YEAR MORTGAGE IS 4.875% WITH A 1% ORIGINATION FEE – THIS IS EXTREMELY ATTRACTIVE, and here's an example:
Sales Price: $200,000;
$40,000 (20%) Down Payment;
Loan Amount: $160,000;
Interest Rate With a 1% Loan Origination Fee: 4.875%;
MONTHLY PAYMENT (PRINCIPAL AND INTEREST ONLY): $846.74.
THAT’S ALL FOR THIS TIME. Questions/comments please let us know, and thanks again! – Cathy, Tom and Terry.
"If At First, You Don't Succeed..."
Cathy/Tom Williams and Terry Lang, Realtors, Coldwell Banker Res. Broker, Green Valley, AZ
(877) 885-6714 (Toll Free); (520) 548-9686 (Cell)
(520) 625-2214 (Office); (520) 625-5945 (Fax)
