October 2012 Housing Report for Tucson Main Market
As of September 2012 active inventory was 3,880, a 26% decrease from September 2011. There were 926 closings in September 2012, 14% below September 2011. Months of Inventory was 4.2, down from 4.8 in September 2011. Median price of sold homes was $145,000 for the month of September 2012, up 25% from September 2011. The Tucson Market had 1,295 new properties under contract in September 2012, down 8% from September 2011.
The information below demonstrates a comparison of data from September 2011 to September 2012. |
Active Inventory
-26% |  |  | Closings
-14% | |
Months of Inventory
4.2 | | Median Price of Sold Homes
+25% |  |
New Properties Under Contract
-8% | | |
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Anna-Lise Troup Tucson REALTOR/Davis-Monthan AFB PCS Expert Realty Executives (520) 906-5659 ---
Tucson Real Estate, Condos, Homes for Sale Free Relocating to Tucson, AZ Information Kit Davis-Monthan AFB Relocation Information ---
# posted by
Anna-Lise Troup @ 9:46 AM
IDA’S OF CITY OF TUCSON/ PIMA COUNTY
2012 Program Starting October 10th, 2012
· Eligible Areas: Pima County/ City of Tucson
· Eligible Criteria: Principle Residence (does not have to be a first time home buyer) must occupy residence within 60 days of closing. US Citizen or Permanent Resident.
· Eligible Loan Types: VA, FHA, USDA (no conventional at this time)
· Income Limit Criteria: $85,400 for all household sizes (The income limit is $85,400 regardless of household. So it can be for 1 person or 5 household. Also, the income is based off the 1003 income we use.)
· Home Buyer Education: Required for ALL borrowers. Any HUD or Neighborhood Works ONLINE class
· FICO/ DTI Requirement: Fico: Midscore must be 640 or higher DTI: Max debt to income ratio is 45%
· Grant offered: Grant of 4% of the note will be given to use for down payment-assistance. No cash back given to borrower.
· Strict Time Limits: From time funds are reserved to closing needs to be within 70 days or there is an extension fee of $375, funds are cancelled if not delivered within 101 days.
· Secondary Financing is permitted (can add additional down payment programs)
· No recapture tax
· No purchase price limits
· Check online for current rates on bond loan
· Bond Fees:
Ø 1% Origination Fee
Ø $225 Bond Program Fee
Ø $150 Bond Transfer Fee
Ø $85 tax service fee
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Anna-Lise Troup Tucson REALTOR/Davis-Monthan AFB PCS Expert Realty Executives (520) 906-5659 ---
Tucson Real Estate, Condos, Homes for Sale Free Relocating to Tucson, AZ Information Kit Davis-Monthan AFB Relocation Information ---
# posted by
Anna-Lise Troup @ 10:26 AM
