Anna-Lise Troup's Tucson Area Real Estate Update: November 2008

Enjoy spectacular views of Pusch Ridge from 2507 sq ft residence located in desirable Monterra Hills. This immaculate Santa Fe features 4 bedrooms PLUS a den & has so many upgrades. Plantation shutters, granite counters, maple cabinets, cozy fireplace, built-in book case/entertainment center, 18” tile floors, custom faux paint, professional window treatments, custom closets & zoned heating/cooling. Step outside and enjoy the lush landscaping, fountain and covered patio with flagstone accents. Convenient location near shopping, theatres, restaurants, golf & schools. This is true pride of ownership! MLS# 20838701 Offered at $370,000

Contact Anna-Lise Troup, Realty Executives Southern Arizona at (520) 906-5659 for more information.

There are several brand new builder inventory homes available for delivery in December, January and February. If you want new construction but can't wait to build, these homes are a great solution.

Following is a summary of just some of these homes:

Santa Rita Ranch - great south/southeast location near DMAFB and more
2040 sq ft, 1 story, 4 bedrooms, 2 bathrooms, 2 car finished garage, appliances, great room floor plan with grand entrance and 9ft ceilings, split floorplan. Available for December delivery. $199,900

Rancho Sahuarita - great master planned community with parks, club house, exercise facility, pools
2347 sq ft, 2 story, 4 bedrooms + den + loft, 2.5 car garage, view lot with no houses behind, top-quality builder, gated community
Available for February '09 delivery. $223,000

Call Anna-Lise at 520-906-5659 for more information and showing. As a new construction specialist, I can find the new home that meets your needs.

Here are some tips from USAA on lowering your home owners insurance premiums and getting discounts or credits.

Are you buying a new home?If your home is less than 10 years old, you may be eligible to receive a new home discount. (Discounts vary by state and by the age of your home.)

Can you afford to pay a higher deductible if you have a loss to your home?Consider different deductible amounts (the amount of the loss which is not paid by insurance) on your standard homeowners insurance. Raising your deductible to a limit you can afford will lower your premium.

Is there a monitored burglar and fire alarm system in your home?
If not, installing these can provide a discount on a USAA Homeowners Policy basic premium. ADT offers special savings to USAA members on installation and monitoring.

What is your home made of?
Solid materials such as brick, masonry or stone are more fire resistant than wood and can mean a lower premium. In some locations, hail-resistant roofs can also mean reduced premiums.

Maintaining your home can help you avoid unnecessary claims.
Taking simple steps to maintain the safety and condition of your home can help to keep your premium down.

Regional special! FHA financing option offered by builder for a limited time on quick move-in homes in Tucson, Sahuarita and Marana.

Payment examples:
Own a $200,000 home for $915 a month.*
Own a $225,000 home for $1,029 a month.*
Own a $275,000 home for $1,257 a month.*

Interest rate:
5.75% (6.2576% APR) 2/1 buy-down FHA 30-year fixed rate loan*

Call Anna-Lise Troup at (520) 906-5659 for details!
*Terms and Conditions apply.

Total sales of existing homes were at a seasonally adjusted rate of 5.04 million units in the third quarter, up 2.6 percent from 4.91 million units last quarter but were 7.7 percent below the 5.46 million units reported a year ago, according to NAR’s latest quarterly survey.

The median home price fell in 120 of 152 U.S. metro areas compared to the third quarter of 2007. Only 28 metro areas showed price increases while four areas remained unchanged.

Foreclosures and short sales accounted for as much as 40 percent of all transactions during the third quarter, which pushed down the national median price of existing single-family homes to $200,500, which is 9 percent lower than the third quarter of 2007.

“Affordability conditions have consistently been a major factor in driving sales,” says NAR’s chief economist Lawrence Yun. “Historically during recessions, buyers have responded to incentives and it’s important for the government to keep that in the forefront of stimulus decisions.”

Amidst all the negative economic news comes a silver lining. Housing affordability has risen to its highest level in four years, thanks to falling home prices in many areas of the country and historically low interest rates, according to the latest NAHB/Wells Fargo Housing Opportunity Index.

The third quarter index finds that 56.1 percent of all new and existing homes sold were affordable to families earning the national median income of $61,500, much higher than 40.4 percent of families who could afford homes at the peak of the housing boom.

The two most affordable major housing markets during the third quarter were Indianapolis, Ind. and Youngstown, Ohio, NAHB reports. The least affordable market was New York where only 10.6 percent of homes sold during the third quarter were affordable to those earning the area’s median income of $63,000. Mon, Nov 17, 2008