Patricia Paul Properties

Patricia Paul Properties

Commentary on Tucson Area Real Estate, Home Ownership, Rental Homes, and Life around the Tucson Community
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Jan 13, 2010
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... And yesterday I did.  I had the pleasure of spending yesterday morning working with a crew on a home building project with Habitat for Humanity.   There are a total of 4 homes being built, near Craycroft and I-10.  My company, Long Realty Company, has long been a supporter of Habitat for Humanity.   I have volunteered and worked on builds in previous years, too. 

The homes are maybe half finished; they are framed out on the inside, and roofs are being installed now.   Yesterday I worked on installing the mesh corner reinforcing strips on all the outside edges, in preparation for the stucco application.  We also installed some "bump-outs" on the front exteriors.  It's very interesting to see how the homes are constructed. 

There were some really great people working along with me.  There were several volunteers who have been doing this for many years.  It's great to be able to give back to my community.  And being a REALTOR who makes a living selling homes, it is particularly rewarding to be able to help create housing for those in need.

Habitat for Humanity is a wonderful cause.  If you can volunteer either time or financial support to them, please contact them at www.habitattucson.org.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Jan 01, 2010
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Open House Sunday,  January 3,   1 pm - 4 pm.  

Stop to see this great house for sale at 9861 E Spanish Flower Ct.     Built in 2003, the home features 3 bedrooms, 2 bathrooms, 1,583 square feet of living space, 2-car garage, and large permitted Arizona Room.  Vaulted ceilings, ceramic tile & new carpet, ceiling fans.  Close to shopping, services, restaurants, and bus line.

Priced at just $170,000; this one should  move fast!

Directions:  From 22nd St, take Old Spanish Trail southeast.  Follow the signs (turn west on Dakota Sky)

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

 


Dec 31, 2009
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The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac,  expects the interest rate for a 30-year fixed rate conventional mortgage to continue to increase.   This week's rate is averaging 5.05, but it is expected that before the end of 2010, and most likely sooner, the rates could climb to 6%.

 The higher interest rate will mean that if you are buying a home, the monthly payment for the same loan amount will be higher, or possibly you will not qualify for quite as large a loan amount.

There is still time to buy while rates are nice and low!  Let me help you!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Dec 29, 2009
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You've probably heard of the term net worth, but do you actually know what it is, and how to figure yours?  Simply put, net worth is the difference between a household's assets and liabilities.   To calculate yours, first get a piece of paper, and draw a vertical line down the center of it.

On the left hand side of the paper, begin to list any assets (things that you own); a brief description of them, and their current value.  This might be your home if you own it (or are paying a mortgage), vehicles, money in bank accounts, savings accounts, retirement accounts, stocks or bonds, and personal possessions (Be conservative; only include saleable items, and don't overestimate.)

On the right side of the paper, begin to list your liabilities (things that you owe).  This might include the balance of your home mortgage, balance of any vehicle loans, credit card debt, any outstanding personal loans, etc. 

Now total up both columns.  If the asset side is larger than the liability side (and hopefully it is), then you have a positive net worth.  If the liability side is larger than the assets, you have a negative net worth, and it's time for you to do what you can about that.

This is a good exercise to perform at least once a year.  Then compare your net worth to previous years to get a picture of your personal finances and where you're headed.

The Federal Reserve recently announced that the average net worth of households has increased by 5%.  This is probably mostly due to the fact that many stock prices rallied earlier this year.

If you'd like help estimating the current value of your home, call me.  I'd be glad to help!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Dec 28, 2009
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Wouldn't it feel great to get out of debt and start saving instead?  If you agree, please take a moment to read this article by Eric Tyson on RIS Media.  Eric has some good, practical ideas for doing just that.

http://rismedia.com/2009-12-29/8-ways-to-get-out-of-debt-and-start-saving-for-the-new-year/

Apparently this challenging economy has prompted people to do as the title of this posting suggests.   The Federal Reserve reports that household debt shrank by an annual rate of 2.6% in Quarter 3 of 2009.   This was the 5th consecutive decline in this number.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Dec 28, 2009
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Home mortgage interest rates have started to inch up.   Rates for a 30 year fixed rate mortgage averaged 5.05%.  This is the first time since the end of October that they rose above the 5% mark.   But it is still below this year's highest point which was set in the middle of June.

It is predicted that rates will continue to rise.  Historically, periods of low interest rates are followed by swings upward.

If you are thinking about purchasing a home, right now is still a very good time to do so.  In addition to still low interest rates, there is a good amount of inventory (homes) to choose from, sellers are still willing to make buyer concessions, and you may qualify for a large tax credit.

Contact me if I can help you buy or sell a home, or help you locate a good lender.   Upon your request, I will provide information about the tax credits available. 

Patricia Paul, GRI *** www.longrealty.com*** (520) 548-2078


Dec 21, 2009
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Most homeowners are aware that the number of short sales, foreclosures, and bank-owned properties in their neighborhoods has seriously effected the value of their homes.   These distressed properties are sold by consumers who can't afford their mortgages or the banks who have taken the properties back, and in both cases, tend to be sold way below fair market value.   Other sellers not in financial duress have had to reduce their prices if they hoped to compete.

Well, here's the good news.......  In November, there were 8% less foreclosures on a national level than there were in October.   This was actually the lowest level since February of this year.  The fewer foreclosures out there, the more stabilization and improvement we should see in home prices. 

Also, pending sales (homes under contract, but haven't yet closed) have been up for nine months in a row.   Sales activity is at its highest pace since February of 2007.

With interest rates still very low (but already heading up just a bit), it remains a good time to buy and maybe now even a good time to sell.  Today the average rate for a 30-year fixed rated mortgage was 4.94%.  Last year at this times the average was 5.19%.  Please let me know if I can help you with any of your real estate needs.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Dec 11, 2009
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Please contact me if you'd like to receive a copy of Tucson's November Housing Report.  It's full of information and statistics.   Some of the statistics include months worth of inventory, number of listings and closings, median and average sale prices, price banded sales information, and months of inventory by zip code.

Did you know there is a big difference by the area of the city?  For example, in zip code 85714, there are only 2.6 months worth of inventory.  But in zip code 85749, there are 12.4 months worth.  Homeowners wanting to sell their homes in those areas will have different experiences because of that.

It's no surprise that the most number of homes that sold were in the $150,000 - $175,000 price range.  There were 567 listings in that range, and in October 135 sold and closed.  Next, in the $125,000 - $150,000 range, there were 594 listings, and in October 132 of them sold.  In the $100,000 - $125,000 range, 111 of the 389 listings sold. 

Now might not be the best time to be selling your $1,000,000+ home;  in October, only 3 out of 292 listings sold.  But, it is a great time if you're looking for a bargain to purchase!

Please let me know if I can help you with any of your real estate needs.  

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078


Dec 11, 2009
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Human Goodies!

Dog Goodies!

 

Okay, so Martha Stewart I am not!  But I think I did a fair job of baking this past week.   It's a lot more than I usually do.  But I was going to a party at my girlfriend Marilyn's house, and I wanted to  bring something home made.   It was a fun party!  Guess I should have taken a picture of the photo at the end;  there wasn't much left!   (Will send recipes upon request.)

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

 


Nov 30, 2009
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I baked this afternoon, but it wasn't pies or holiday cookies, as you might think.  No, I concocted a batch of canine confection.  Otherwise known as dog biscuits.    Similar to making cookies, you make a thick dough.  Then you roll it out on a flat working surface, cut out the shapes (I have some cute dog bone cookie cutters I use), then bake them.   The rolling and cutting part takes the longest.

The ingredients are simple and wholesome.  This recipe called for whole wheat flour, broth, margarine, water, powdered milk, and egg.  Other recipes I have use dried oats, meat, wheat germ, corn meal, and peanut butter.

It's kind of fun making your own doggie treats.  You probably don't  save any money doing it, but it's a labor of love.  Your pets will love them!   I wrapped several of the large biscuits together and tied them up with a cute fabric ribbon with a printed bone and paw-print design.  They'll make cute little gifts to my friends' pets.

Contact me if you'd like the recipe.  Bon appetit to the pooches!

Patricia Paul, GRI ** www.PatriciaPaulProperties.com ** (520) 548-2078


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