Tucson Kent's World

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The TucsonKent Group proudly welcomes Emmary Nicholson, aka "The Gadsden Girl" to our team!  She brings us a broad scope of skills (her Facebook & Twitter networks are of an amazing caliber), a great "can-do" attitude and fresh perspective as a new Tucson resident.  Em is licensed in both Arizona & New Mexico, and is a wealth of knowledge about military relocation.

A native of the Desert Southwest, Emmary was born & raised in El Paso, Texas, living in Las Cruces, New Mexico, White Sands, New Mexico, the Washington D.C. area and back to Las Cruces before finally moving to Tucson this year.  Having been an Army wife for 13 years, Nicholson is well-versed in the challenges & pathways facing military families relocating to new surroundings.

With 20 years of broadcasting experience - as on-air talent, program director & instructor (Connecticut School of Broadcasting), combined with success in marketing for several restaurants on Facebook & Twitter, the TucsonKent Group looks forward to her blend of time-honored and innovative approach to marketing for her clients in social media & other avenues.  One of her passions in community involvement, and she wasted no time after her move - becoming involved with the Tucson Literacy Coalition within her first week!

Emmary's background, love of Southwest History and its people make her the true "Gadsden Girl" (Southern Arizona & New Mexico - Tucson & Las Cruces were purchased from Mexico in the Gadsden Purchase of 1853).  Please join us in our excitement and welcome Emmary to our team!

When relocating to Tucson, the reasons vary - a job transfer, health issues, lifestyle changes, pursuing a dream...or something as simple as following your heart.  Here's a little about one man who did that...and has become a champion, along with his partner, a wild mustang named B.I.G. - one of the smallest horses in the Extreme Mustang Makeover competition.  He Has A Winning Way With Mustangs.

Logan Leach listened to his heart many years ago, and settled in Tucson.  He established Tanque Verde Stables in the Northeast part of the Tucson Metro, perfectly located by the Tanque Verde wash (full of great riding trails) with views of the Catalina Mountains to the north, the Rincon Mountains to the east, surrounded by semi-rural countryside.  Arizona National Golf Course is just a skip away to the north, 49er Country Club is a dash to the east. Close enough to the urban core to be convenient yet away from the city enough to enjoy a little elbow room and do what he loves:  training horses.

The Tucson area is full of horse lovers - there are even stables within minutes of downtown Tucson!  Miles and miles of equestrian trails lead along the Rillito River, along washes and the spirit of the Old West remains a part of the region's core - but not readily apparent to many (in keeping with the cowboy way of life - it is a lifestyle of quiet enjoyment, not "in your face" hype and brassiness).

Tune in to Real Estate RoundTable on BlogTalkRadio for our discussion on Home Inspections & The Homebuyer Tax Credit!  Broadcast time is 12:30 PM Central for your lunchtime pleasure (that's 1:30 pm Eastern, or 11:30 am Mountain & 10:30 am Pacific). 

Join in the discussion & ask questions in our chatroom.  Last week's show had some fireworks as differing opinions on different social media platforms got heated at times...(can't promise a Jerry Springer-like show every week, but we always will have good information for the public and industry insiders alike)!

If you know anyone who has questions about the Homebuyer Tax Credit, or would like more information about Home Inspections - listen & chat with us, or you can download the show afterwards if you can't attend.

Here's the link to the show:  Real Estate RoundTable

As always, your suggestions on topics for future shows having to do with any aspect of real estate are welcome - the whole idea of this show is to provide information that you want to hear.  First time homebuyer, veteran real estate investor, member of the industry - whatever your interest, the RoundTable is about learning from one another.

See you at the RoundTable!

Have you ever been driving around a neighborhood, wishing you could see more detail on a particular home...but didn't want to go home to pull it up on the computer?  Now you can search for Tucson homes from any mobile phone - complete with pictures & info...FOR FREE!

All you need to do to get started is text TKREAL to 87778.  You'll get a text back with the link to download your own app, right to your phone to use anytime you wish!  You can search by neighborhood, community, zip code, property type, map - and it is GPS enabled, so you can see what is for sale around you at any particular time if you wish.

You can even save your favorite homes for later.

The TucsonKent Group is proud to be the first to provide an application of this type to buyers and sellers alike in the Tucson Metro area free to the public.  Please feel free to use at your leisure, and if you want more information, you can just click on the link in the app to call for an appointment.

What I like most about this real estate search app is that it is unintrusive for the user - no emails every time you "save" a property, no calls just to touch base...you can use it as much as you want without being pestered!

Living through a Tucson Winter can be pretty delightful - especially when you are getting a fat check from Uncle Sam for buying a home! 

Sure - folks have probably already heard about the extended tax credit for homebuyers...but lets get one thing very clear:  it isn't just for first time homebuyers anymore.  With Tucson's home prices making the real estate market virtually "ON SALE" - and getting up to $8000, first time homebuyers can really give themselves a nice present.

Current homeowners looking to upsize or downsize can get up to $6500...and you don't have to sell your current home (but you do have to move into the new purchase).  Perhaps that's the way to give yourself an investment property and the home you want at the same time?!?

Anyhow, for details, give me a call or shoot me an email.  Lets enjoy a dip in the pool or a round of golf while discussing your needs - yes, even in winter.

Merry Christmas to everyone!

HOA fees in Tucson are rising (as well as other places).

Working with some first time homebuyers lately, we were comparing the rates that a few different homeowner associations were charging for similar benefits in the same general part of town.  After a little discussion and some serious digging, it was found that one HOA had more than doubled their fees in the past 24 months - from $17 to $44, while others had risen a little and a few had no increase yet...but they will be.

Why the differences?

Could be a bunch of different reasons, but the general consensus was that HOA increases are like the old adage about termites:

• If your HOA fees haven't risen, it just hasn't happened YET - maintenance costs never go down.

The other common factor to the associations with the highest increases was the proportion of short sales and foreclosures in the neighborhood - the more there were, the more dues that hadn't been paid.  When people have to tighten their budgets, the HOA fees take a backseat to putting food on the table or taking Jr. to the doctor, but the dues don't stop accumulating.  The association can put a lien on your home for non-payment of dues, which gets wiped out during foreclosure, leaving the rest of the homeowners to take up the slack.

This is true whether you're buying a luxury home, resort condo, townhouse on a golf course or a regular single family home.

Always make sure you get the most recent copy of the Homeowner Association's financial statement & operating budget when purchasing in a neighborhood that has an association.  Also make sure the HOA's reserve studies are in the packet you receive - and read them, don't just stash 'em in a file for "someday."  You are entitled to this information as part of the homebuying process for a reason. 

Typically, you will get all of the Homeowner Association information "packet" on a CD, while a few are being sent via email (the documents on paper can be the size of a small phonebook sometimes, so a CD is usually easier).  Once in a while, the title company will still send the documentation printed out, but that is becoming more rare...especially as postal rates rise.  I don't get a copy of these - just you, so if you haven't gotten them from the title company, please let me know.

Here's some interesting data on where the Federal 1st-Time Home Buyer Tax Credit is getting utilized the most.

Ryan Shaughnessy is a broker (and fellow stats junkie) from St. Louis, MO.  He and I will be starting a radio show together next month - stay tuned!

One of my friends on Facebook shared this video today - after picking myself up off the floor and wiping the tears from my eyes I just HAD to share this with everyone I could:

Unfortunately, the feeling is dangerously close to the mark when dealing with the agents & "banks" that are putting foreclosures on the market today.  I must say though, that most of the time buying a foreclosure isn't this ridiculous, the attitude portrayed here occurs often enough that I'll wager most who view this video can identify with it at some point.

Enjoy - and hope you don't have to deal with the bot on the right side of the screen!

Should you be looking to buy a home and foreclosures are a part of the mix of properties you're looking at - make sure your agent is experienced in representing buyers of REO (bank-owned) properties - Know what to look out for!  Over half of my practice in the past 18 months has involved foreclosures.

Do you have good credit, but just can't come up with the 3.5% down payment that FHA loans require?

Can't use a USDA Rural loan because you don't want to live out in the areas that qualify for that program?

In Arizona there's a solution that just might work for you:  Arizona Home Buyer Solutions Gift Program.

Seems like every time I turn around, somebody's telling me about a new program that's going to help people buy a good home...but there always seems to be a catch that makes the program unworkable for most people (or most properties).

The other day I was on my way to go across town for something or other, and a lady outside the title company below my office asked me "are you interested in learning about a program that would allow buyers to get a home for 1% down?"

My initial reaction was: "Yeah, right...yet another hype-filled program full of smoke & mirrors that saddles the borrower with interest rates w-a-a-y over market, an ungodly long-term 'foregiveness period,' or has property type restrictions that make it nearly impossible to find a house that fits the criteria (and when you do, 10 other people are offering on it too)." 

Thankfully, my mouth didn't speak what was going through my head, and I accepted the flyer she gave me about the Arizona Home Buyer Solutions Gift Program.  About a week later, she gave me a call and asked if she could tell me more about it and discuss specific details with the program - "Its worth a listen," my brain told me.

Glad I did.  This is the real McCoy - simple & straightforward, run through Family Housing Resources & HUD approved.

Here's the skinny:

• Gotta have decent credit to begin with:  620 FICO minimum*
• Must meet income restrictions, but those are fairly generous compared to some other programs
• There is required consumer education - but that can be done online (you don't have to take time off from work or hire a sitter on the weekend)  $60 online/$75 if you prefer a book sent to your home
• Can be ANY house, not just a foreclosure! that meets FHA standards (no rehabs)  Duplex, Triplex, Fourplex, Townhomes & HUD approved condos are OK too.
• DO NOT have to be first-time homebuyer, but MUST BE primary residence - no investment properties!

*620 FICO qualifies for 2% gift - so you'd have to put 1.5% down.  640 & above qualifies for 2.5% Gift

**Can combine with other programs, or family member gifts to help with the rest of the down payment.

For more information - call or email me.  I'll be glad to put you in touch with someone involved with this program!  520.444.6471 or Kent@TucsonKent.com

These are TucsonKent's Top 10 foreclosure homes priced under $200,000 in the Tucson, Arizona real estate market.  These homes are not fix-ups, they may need a little TLC, cosmetics or an appliance or two, but they are either move-in ready or close to it.

What's the hottest market segment in Tucson real estate right now?  Foreclosure homes under $150,000!  I mean to tell you, these are the homes that are seeing multiple offers & bidding wars.  Because most of the foreclosures under $200,000 in Tucson are already at bargain prices, it isn't unusual for properties to sell for more than the listing price - actually, it is becoming a regularity.

For example: just this week, a client of mine found a foreclosure home that had all of the features he wanted, and it had only been on the market for 3 days.  Hooray!  I zoomed across town to take extra photos & video of it for him, and saw that 16 other agents had already viewed this property...in 3 days!

Since he already had his lending in place, we put an offer together for $10,000 over the asking price, but didn't get it.  Back to the drawing board.  An agent in my office has been working with another buyer looking at foreclosures in Tucson and Marana.  They've put in a dozen offers in the past 2 weeks, but without results.  This is the hottest market segment in Tucson real estate - bar none.

The moral of the story is this:  the reality is that Tucson's foreclosed homes market is ultra-competitive right now in the lower-end price range.  When the property is priced under value, and is in decent shape, the smart money is zooming in to capture the bargain.  This isn't a market segment where negotiation is happening...it is a flat-out auction, and the highest bidder with the most realistic chance of closing soon gets the home.

Cash is king, but if you are using a loan for your purchase, don't lose faith...just don't fall in love with one home, and be ready to offer more than the bank is aking for it.  Period.

Most of these homes will probably be under contract sometime next week, if not all.