The Tucson Realty Review December 2013 Issue
The Tucson Realty Review December 2013 Provides Tucson Real Estate News and Views
For the Tucson Realty Review December 2013 “doubt” is the concern for 2014. Doubt brings caution. Caution puts decision making on hold.
The Tucson Realty Review December 2013 saw the Tucson housing market improve significantly during 2013. Improved, YES! However selling prices are still way below the peaks of 2007.
The Tucson Realty Review December 2013 sees some key issues facing the 2014 Tucson housing market. A new Federal Reserve Chairman. The cost of the affordable care act are key on families. The ability of the U.S. economy to improve on real job creation. These issues place a question mark on the short-term future of real estate in Arizona.
Tucson Realty Review December 2013
Consumer confidence in home ownership continuing to gain ground. Either with real improvements or just the length of ones memory.
When will Real estate’s “new normal” arrive? For Tucson Realty Review December 2013 it is unclear. Unclear as to what a “new normal” will be. Unclear as to when it will be identified.
Will a long-term solution to the federal government’s budget and debt crisis be required? Do the true costs of health care reform need to be better understood? We will have to wait to see.
Dodd Frank will have an impact on interest and mortgage rates. Most likely pushing them higher. Our Tucson Realty Review question is “How high?”.
Jobs gains in Southern Arizona will also be needed to drive Tucson home sales. TARMLS data shows December Tucson home listings at 5,150. This is around 2005 levels.
Remember the Tucson Real Estate market in 2005? Tucson homes were selling fast and prices moving up!
Tucson Realty Review December 2013 sees New home builders in Tucson Arizona doing well. Tough times of the recent past have provided the strong builders more dirt to build on.
Builders are creating new communities and expanding others. Active adult communities in Saddlebrooke and the Dove Mountain area are expanding. Green Valley Arizona continues to grow.
Will a long-term solution to the federal government’s budget and debt crisis be required? Do the true costs of health care reform need to be better understood? We will have to wait to see. Dodd Frank will have an impact on interest and mortgage rates. Most likely pushing them higher.
How high is the question.
Jobs gains in Southern Arizona will also drive improvements. New home builders in Tucson Arizona have been doing well. The tough times of the recent past have provided the strong builders more dirt to build on. Builder are creating new communities and expanding others. Active adult communities in Saddlebrooke and the Dove Mountain area are expanding.
Green Valley Arizona continues to grow. The U.S. Justice Department’s National Mortgage Settlement has ended. Five largest lenders have agreed to a $26 billion settlement. Arizona receives $1.6 billion.
Will the Justice Department go after more institutions mortgage fraud? If so, so what? We will know it when we hear it. The effect will in all likelihood by nominal. So there are a lot of cautions.
But guess what?
The Tucson Real Estate market achieved year over year home price gains in double digits. Even with all the uncertainty and potential national issues Tucson housing market continues to improve. The core fundamentals are in place for the housing market to continue to stabilize and strengthen in 2014.
The Tucson Realty Review December 2013 saw land sales in the 3Q remain constant. The quarter started strong with Northlight Financial closing on 800 acres at Saguaro Ranch in July. This prominent Northwest Tucson location is planned for 115 lots.
Northwest Tucson saw a $6.0+ million investment by builders DR Horton, Richmond American and Maracay.In Tucson Southeast area the 480-acre La Estancia de Tucson master planned community was sold. Sale price was $17 million. The future site of some 1,500+ homes is north of I-10 between Kolb Road and Wilmot.
Fullerton Tucson Marketplace LLC of Toronto, Canada acquired 68 acres of vacant land at The Bridges. This is just off I-10 and Kino Parkway. This site is planned for retail development.
The Wrap Up
In summary, the Tucson Realty Review December 2013 goes back in history. Remember the FDR quote “There is nothing to fear, but fear itself”? That may just be calling for the future. No one knows with certainty what will happen. Live your life, achieve your dreams. Buy your dream home in Tucson AZ! We can help!
Northwest Tucson and Oro Valley continues to see new home construction.
The core fundamentals are in place for the housing market to continue to stabilize and strengthen in 2014.
For more on the Tucson Realty Review you can check out the Tucson MLS Statistics for December. Our Tucson Real Estate statistic archive provides lots of data on past months Tucson Housing markets.
This months Tucson Realty Review highlights some popular communities in the Tucson area include Oro Valley, Dove Mountain and the Catalina Foothills.
In summary, the Tucson Realty Review December 2013 goes back in history. Remember the FDR quote “There is nothing to fear, but fear itself”?
That may just be calling for the future. No one knows with certainty what will happen. Live your life, achieve your dreams. Buy your dream home in Tucson AZ! We can help!
If you are moving to Tucson OR considering a potential retirement in Tucson Arizona, we can help!
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