Hi again, folks – it’s Cathy and Tom Williams, now with COLDWELL BANKER RESIDENTIAL BROKERAGE in Green Valley, 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 might recall from the last “Extra” we sent out, we made the move to Coldwell Banker last month after being abruptly informed by our Remax Valley Properties franchise owner that he was terminating the business. In the aftermath of this announcement, some of our former colleagues assumed control of the business, which is still active. However, after careful consideration and a whirlwind of activity, we decided NOT to stay with them, and selected Coldwell Banker Residential Brokerage for four main reasons. We wanted:
1.) financial stability;
2.) a strong presence/excellent reputation in the Greater Green Valley area;
3.) to maintain strong national and international presence where just about all of our Buyers come from, i.e., NOT Southern Arizona; and
4.) a smaller office environment.
We’re now comfortably situated in our office in the small Canoa Shopping Mall just south of the Shell Station at the intersection of Camino del Sol and Camino Encanto in Green Valley (stop in and see us!), so Coldwell Banker has filled the bill quite satisfactorily with all four. Thankfully, we’re also off to an EXCELLENT start in 2009, so we really appreciate your hanging in there with us, and we FERVENTLY hope this will be our last move.
We also hope our former ReMax friends and colleagues are successful, and we wish them the best.
And now to the numbers, which are very interesting again this time.
First, lots of folks have asked a basic question: JUST HOW MUCH HAVE GREEN VALLEY HOUSING PRICES DECLINED IN THE PAST COUPLE OF YEARS? The answer is: QUITE A BIT. When we did this report in March of 2007, the average sales price of residences sold on the Green Valley Association of Realtors database was $243,541; in today’s report, the average sold price is $185,418, which is a decrease of 23.9% from March, 2007. We actually thought it would be higher than 23.9%, but the numbers don’t lie, and a 23.9% decrease is substantial, although somewhat lower than the declines reported lately in Tucson.
Second, the numbers reported this past December were pretty close to those reported the previous September – for all homes sold between 6/1/2008 and 12/1/2008, the Average Sales Price increased by .25% (from $192,434 to $192,909). However, in this report we have a DECREASE in Average Sales Price: from $192,909 to $185,418, which is 3.9%. This is significant because the numbers cover a more active Real Estate Sales period (7/31/2008 through 2/2/2009) than last report’s. Consequently, the $64,000 question is: HAVE WE FINALLY HIT BOTTOM??? Despite the decrease this time, Cathy and I think we’re pretty close, and here are the reasons why:
1.) Per information received from the National Association of Realtors, the housing decline is creating substantial pent-up Real Estate demand;
2.) The remainder of the federal bail-out is coming soon, which should also have a positive impact on housing demand;
3.) The Greater Green Valley Market, with its appeal to relatively well-heeled Buyers approaching, or already are in, retirement, should rebound more quickly than most other markets (this makes sense to me because it hasn’t declined as much, either);
4.) Green Valley remains a wonderful, and increasingly popular retirement community, with its warm, dry climate, low housing prices, myriad activities and friendly/talented/accomplished people;
5.) Cathy and I have experienced relatively substantial buying activity over the past month, which is a good thing;
6.) The GVAR database lists 93 homes under contract as of 2/7/09, which is 30-40% higher than any given day in late 2008.
It’s also important to note that we won’t know we’ve hit bottom until after we’ve landed. Again, the numbers don’t lie, but it takes awhile to compile and report them, so based on the above, we think the answer to the HAVE WE HIT BOTTOM??? question is: WE’RE PRETTY DARN CLOSE, even though we’re wimping out by not providing a definitive YES. We’ll continue to report via this newsletter, of course, and here are this report’s numbers:
1.) GREEN VALLEY REAL ESTATE AVERAGE SOLD PRICES HAVE DECREASED SINCE DECEMBER’S REPORT:
**The average sold price for homes on the Green Valley Association of Realtors database went from $192,909 to $185,418 which is a decrease of 3.9%;
**The median sold price declined from $170,000 to $167,000, or 1.76%, compared with December's median sold price decline of 2.02%. This indicates that we continue to see relatively brisk sales of lower priced homes, but, as mentioned in December’s report, THE NUMBER OF ABSOLUTE BARGAINS SOLD (HOMES THAT SELL FOR 20% OR MORE BELOW ASKING PRICE) APPEARS TO BE LEVELING OFF;
**The number of homes sold for the period 7/31/08 to 2/2/09 decreased again from the December report - from 310 to 287, or 13.48%. This is a significant decline because tODAY’S report incorporateS a relatively active period vs. a traditionally less active period last report. In short, the market IS STILL EXTREMELY SOFT, and a lot of Sellers (not to mention Realtors) are feeling the pain. On the other hand, and we have to keep repeating this, THERE MAY NEVER BE A MORE FAVORABLE TIME TO BUY THAN RIGHT NOW;
**Finally, the number of homes for sale has INCREASED from December's report of 945, to 963 as of February 7th, which also can be partially attributable to the more active DEC-JAN listing period.
Considering all of the above, WE STILL MAINTAIN THAT THE GREEN VALLEY REAL ESTATE DOWNTURN IS STARTING TO LEVEL OFF. So, although the news still isn’t great, we're cautiously optimistic about the overall market.
And now the numbers – please note that the first set of numbers was reported last time (as of December 1, 2008); the second set was obtained as of February 2, 2009, and is a ROLLING AVERAGE that’s compared to the December numbers:
DECEMBER/08 NUMBERS: RESIDENCES SOLD BETWEEN BETWEEN 6/1/2008 AND 12/1/2008:
NUMBER SOLD: 310 – DOWN 8.8% FROM THE 340 REPORTED IN THE SEPTEMBER NEWSLETTER;
AVERAGE NUMBER OF DAYS ON THE MARKET: 176 – UP 4.7%;
AVERAGE SALES PRICE: $192,909;
% INCREASE IN PRICE FROM SEPTEMBER’S REPORT: 0.25%;
MEDIAN SALES PRICE: $170,000 – DOWN 2.02%
FEBRUARY/09 NUMBERS: RESIDENCES SOLD BETWEEN BETWEEN 7/31/2008 AND 2/2/2009:
NUMBER SOLD: 287 – DOWN 7.4% FROM THE 310 REPORTED IN THE DECEMBER NEWSLETTER;
AVERAGE NUMBER OF DAYS ON THE MARKET: 157 – DOWN 1.08%;
AVERAGE SALES PRICE: $185,418;
% DECREASE IN PRICE FROM DECEMBER’S REPORT: 3.88%;
MEDIAN SALES PRICE: $167,000 – DOWN 1.76%
ALSO, THE NUMBER OF HOME PRICE REDUCTIONS HAS INCREASED YET AGAIN SINCE LAST REPORT. Last newsletter we reported 399 price reductions for 945 homes for sale, or 42.2%; for homes on the market as of today, February 7, 2009, it’s 444 of 963, or 46.1%. This makes me ask: WILL IT GET TO 50%??? We’ll check again next report, but 46.1% is a LARGE PERCENTAGE OF PRICE DECLINES, and there will be EVEN MORE DECLINES YET as OWNERS ENDEAVOR TO SELL THEIR HOMES. AGAIN, BECAUSE THE MARKET STRONGLY FAVORS BUYERS, THERE ARE OUTSTANDING VALUES AVAILABLE. There were a total of 5 (FIVE) price INCREASES this time, vs. the 444 price DECREASES.
2.) We have eighteen listings, and all are PRICED VERY ATTRACTIVELY. TO SEE DETAILS, INCLUDING PHOTOS, ON THESE PROPERTIES, PLEASE CLICK ON OUR WEBSITE URL: http://www.cathytom.com and then click on “Our Featured Listings”:
A.) ABSOLUTE ELEGANCE WITH FABULOUS, PANORAMIC MOUNTAIN VIEWS IN SAN IGNACIO VISTAS – NEW LISTING! This gorgeous 2600 Sq’ home has 2 bedrooms + den, 2.5 baths and an expanded 2 car garage, plus it’s situated on a very private, quiet and large (but low maintenance) 18,000 Sq’ lot. It’s tastefully decorated with Southwestern décor, ceramic tile and charming colors, and is priced at only $449,900. The address is 1797 Sonoran View Drive;
B.) VERY ATTRACTIVELY PRICED NEW LISTING IN TOWNHOUSE 6 - at $179,000 ($101/Sq') this 1767 square foot 2BR, 2BA, 2CG home has served very well as a rental (it’s rented now), and it's fully furnished. The furnishings are nice, and there's a wonderful screened-in Arizona Room that leads out to an expansive patio, which features two large, wonderful old trees and excellent mountain views. The address is 675 Los Diamantes;
C.) ANOTHER OUTSTANDING VALUE IN VILLAS EAST! – NEW LISTING! We have a 1 bedroom, 1 bath villa that's in excellent condition, and it's priced at only $49,900 - only $84.86/Square Foot! It has a washer and dryer, full sized dishwasher, plantation shutters, and it's been freshly painted on the inside. Located at 437C Paseo Cerro, this one won't last long!
D.) NEW LISTING IN DESERT MEADOWS II – Priced extremely well at $144,900 (lowest in the subdivision as of 2/7/09), this 3 bedroom, 2 bath, 1420 square’ home features very nice mountain views from the living room, Master Bedroom and back patio. It also has a very roomy workshop off the kitchen, and it’s located in a private, quiet area. The address is 1651 San Luis - look for the Saguaro cactus in front!
E.) TERRIFIC INVESTMENT PROPERTY OR MOVE RIGHT IN: NEW LISTING IN DESERT CREEK - This 3 bedroom, 2 bath, 1350 square foot home with a 2 car garage is tastefully furnished and features a wonderful back patio with soothing water feature and excellent mountain views. Located on a quiet cul-de-sac, it is currently serving well as a rental, and the furniture is available. Built in 1998, the address is 1866 Carrizal, and the price is right at only $184,900;
F.) NICE VIEWS, NICE HOME, PRICE REDUCED IN THE LEGENDS – this wonderful 1733 sq’, 2BR+Den, 2BA home with a 2CG is very neat and clean. IT HAS TASTEFUL CERAMIC TILE, A BEAUTIFUL GAS FP, PLANTATION SHUTTERS, AND A VERY PLEASANT SCREENED-IN BACK PORCH. The enclosed front courtyard of 2263 Alonso has a nice water feature, and the price is NOW ONLY $244,900;
G.) 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 NICE CERAMIC TILE, A TILE ROOF AND VAULTED CEILINGS, the home has not been lived in much, so it’s 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;
H.) PRICE REDUCED BY $30,000!! This home is a wonderful, end unit townhome with SPECTACULAR MOUNTAIN AND GOLF COURSE VIEWS IN ENCANTO ESTATES - Encanto Estates is an extremely attractive subdivision, and HOMES DO NOT COME UP FOR SALE THERE VERY OFTEN. This 2 bedroom, 2 bath, 1300 sq’ beauty has LARGE WINDOWS ALONG THE SOUTHEAST SIDE and toward the back patio, which maximize the views – and it’s an outstanding value at only $209,900;
I.) A BEAUTIFUL 2100 SQ’ CUSTOM HOME IN COUNTRY CLUB VISTAS. This 2 bedroom, 2 bath property features a UNIQUE, LIGHT AND BRIGHT CIRCULAR HOBBY ROOM, A LARGE STORAGE ROOM, A BEEHIVE FIREPLACE AND IT SITS ON A VERY NICE, PRIVATE LOT ON A CUL-DE-SAC. The home at 810 Placita La Canoa is in EXCELLENT CONDITION, and some furniture is available. THE PRICE is $199,900, which is LESS THAN $100/SQ’: ONLY $95.19/SQ’, WHICH IS A HECK OF A VALUE!
J.) PRICE SLASHED IN COUNTRY CLUB ESTATES!! – A beautiful THREE BR, 3 BATH, 2150 Sq’ home in this nice subdivision surrounding the Country Club of Green Valley. It's EXTREMELY WELL PRICED AT $219,900 AND IT REALLY IS BEAUTIFUL – built in 1985, it’s ULTRA CLEAN WITH NEW PAINT, TILE, APPLIANCES, a huge laundry/hobby room, gorgeous back patio, & HVAC warranty. The address is 1077 Iris, and the SELLER WOULD REALLY LOVE TO ENTERTAIN AN OFFER;
K.) A STUNNING SINGLE FAMILY HOME IN DESERT HILLS II – this unique 2,200+ Sq’ home features EXCELLENT MOUNTAIN VIEWS, a 2 car garage PLUS GOLF CART GARAGE, and a beautiful living room with 15’ ceilings. The attractive back patio has a water feature and citrus trees galore; and the home also has A LARGE, PRIVATE DEN, plus well-maintained carpet/ceramic tile. The roof/HVAC are under warranty; and price for this great property is ONLY $259,000;
L.) FOUR BEAUTIFUL FULLY FURNISHED VILLAS IN VILLAS EAST – OWNER WILL FINANCE!! It’s a wonderful time to invest, and THESE 4 ARE OWNED BY THE SAME PERSON, so they’re available as packages (PICK THE ONES YOU LIKE!) or individually. All are very clean, extremely well maintained 1 bedroom, 1 bath units, with BEAUTIFUL SOUTHWESTERN DÉCOR: CERAMIC TILE, NEW CARPETING IN THE BEDROOMS, NICELY PAINTED, GOOD FURNITURE, GAS BARBEQUE GRILLES, PEACEFUL PATIOS. Only 1 comes with Green Valley Recreation (GVR) membership, so there’s a choice on this with the other three, and the addresses are:
137A Alameda and 137B Alameda – THESE TWO UNITS COMPLETELY OCCUPY ONE BUILDING, SO YOU COULD BUY BOTH AND CONVERT THEM INTO A VERY NICE STANDALONE 2 BEDROOM, 2 BATH CONDO. Prices are $59,900 and $61,900 respectively;
531A La Canada – this is the one with GVR Membership and it’s priced at $59,900; and
303C Lobo, also priced at $59,900;
M.) A BEAUTIFUL HACIENDA ON 10 ACRES IN ARIVACA – this unique property features a 3800 SQ’ REMODELED HOME WITH POOL, in-law suite, 60’ WATERFALL ENDING IN A KOI POND, a 14-seat chapel, A HUGE 3200SQ’ BARN WITH HALF BATH AND PARKING SPACES FOR 10 OR MORE VEHICLES, plus many, many extras: a Ford 150 pickup truck, an Allis-Chalmers tractor, a large shed, etc., etc. The price HAS BEEN REDUCED TO $580,000, and the address is 14765 Jalisco Road;
N.) BEAUTIFUL DOLL HOUSE!!! Here's a casita that's very CLOSE TO SHOPPING AND THE GVR WEST CENTER/TENNIS COURTS. It's super cute and FULLY FURNISHED, so it's a WONDERFUL INVESTMENT/RENTAL OPPORTUNITY. An END UNIT WITH WINDOWS ALONG THE SIDE, it has 1 bedroom and 1 bath. Located at 1001 S Calle de la Casitas, it's priced reasonably at $69,900;
O.) WOW AND DOUBLE WOW IN THE SPRINGS!!!! Enjoy UNOBSTRUCTED VIEWS OF THE SANTA RITA MOUNTAINS AND THE 14TH HOLE OF THE TORRES BLANCAS GOLF COURSE! This beautifully decorated home at 4041 S. Wolf Run has TWO BEDROOMS PLUS A DEN, 2 BATHS, A TWO CAR GARAGE AND ABSOLUTELY STUNNING VIEWS OF THE MOUNTAINS AND GOLF COURSE. Priced at only $284,900 this home at 4041 Wolf Run is not only sensational, it's unique, as HOMES ON WOLF RUN RARELY HIT THE MARKET.
3.) RENTAL SECTION: Cathy and I are helping a growing number of our valued clients with properties to 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.) 4727 S. Longmore Drive in San Ignacio Vistas II - GORGEOUS MOUNTAIN VIEWS! Beautiful 1684 Sq’ single family home w/ 2 Separate Bedroom Suites + Den, 2BA, 2CG, Gas FP, very close to 3 golf courses, abuts an attractive 2/3 acre common area in back, nice ceramic tile – $2400/Mo. Call or E-Mail Rich Cummings, 520-300-5356; rkcummings@centurytel.net;
B.) 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;
C.) 1866 Carrizal in Desert Creek (at the northwest end of Green Valley) - AVAILABLE IN JAN09 AND ALSO FROM MAY09 ON: Beautiful, fully furnished 2 bedroom + den/third bedroom, 2 bath, 1350 Sq’ Single Family Home with a 2 car garage in the Desert Creek area. 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;
D.) 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;
E.) 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;
F.) 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 Ray Weisgarber, ray9062@cableone.net;
G.) 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;
H.) 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;
I.) 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;
J.) 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;
K.) 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) 400-5466;
L.) Very nice 1500+ Sq’ home in Desert Hills II with 2 bedrooms, 2 baths, a 2 car garage and mountain views from the living room and front patio. Very pleasant, quiet location and fully furnished – contact Anne Manning, awmhome@hotmail.com.
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 ARE WAY DOWN - AGAIN!!!!! As of 2/5/09, ONE OF OUR CLIENTS HAS SECURED A 30 YEAR FIXED RATE MORTGAGE AT 4.875% - THAT'S EXTREMELY LOW!!! 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): $846.73.
THAT’S ALL FOR THIS TIME. Questions/comments please let us know, and thanks again! – Cathy and Tom.
"If At First, You Don't Succeed..."
Cathy and Tom Williams, Realtors, Coldwell Banker Residential Brokerage, Green Valley, AZ
(877) 885-6714 (Toll Free); (520) 548-9686 (Cell); (520) 625-2214 (Office); (520) 625-5945 (Fax)
tomwilliams1@earthlink.net; http://www.cathytom.com (Website)
