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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Oct 08, 2009
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Calling all first-time home buyers and those who haven't owned a home for at least three years.  Time has almost run out for you to qualify for this great program.   If you buy a home and qualify, you must close on the sale no later than November 30, 2009.  Keep in mind that it takes time to shop and select the home you want to purchase, takes more time to get the loan accomplished, and takes time for the home to close escrow.    Most escrows take a minimum of 30 days to close.  

 If you have any hopes of taking advantage of the $8,000 credit you should start shopping right now! 

 Of course, if you'd like to shop for a home, I'd love to help you!  I enjoy working with first-time home buyers, and have the time and patience to thoroughly explain the process and make it fun and exciting.

 Please call me!

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

 


Aug 29, 2009
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I've spent the better part of this weekend painting one of my rental houses.  I had to prime the walls because we're going from dark to light.  Though I've heard people speak otherwise, I really enjoy painting.  I find it therapeutic and rewarding.  You can see immediate results.  And a fresh coat of paint gives you a new perspective on things.   It also smells nice and fresh.

If you're thinking of maybe putting your home on the market for sale, one of the best and least expensive things you can do to it is to paint it.  Remember to stay neutral if you want to appeal to the most buyers.    Once I'm through with the job, I'll take a photo and post it in a future blog entry.

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

 

 

 

 


Aug 26, 2009
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Interest rates on conventional 30-year mortgages with fixed rates have decreased this week.   Today they averaged 5.14%.  Last year at this time they averaged 6.47%.

This is yet another reason why now is a great time to purchase a home.   Don't forget, if you're a first-time home buyer, or haven't owned a home for the last three years, you may qualify for up to a $8,000 tax credit if you purchase and close on your home by November 30, 2009.   This process can take 30 - 60 days.   Let me know if you'd like more information.

 These lower rates mean that your monthly payment will either be slightly lower, or you may qualify for a larger loan amount.  Whatever you do, be sensible and consider all the ramifications.

If you'd like to speak to a good lender to see about qualifying for a new mortgage, or refinancing your existing one, let me know.  I can provide you with a list of professional, friendly and ethical lenders who you can contact.

As always, I would love to help you with all your real estate needs!

 

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


Aug 25, 2009
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The folks over at HousingPredictor.com published a list today of the 10 Hottest Buyers Markets, and Tucson made the list, coming in at #10.   The markets that made the list supposedly "hold the promise of prosperity in the near future."    These cities "are the most likely to experience housing inflation over the next few years." 

To read the entire article, click on the link below:

 http://www.housingpredictor.com/hot.html

This is good news to anyone who currently owns a home in or around Tucson, or anyone who is thinking about buying a home now.

For those of you who have been on the fence, and unsure if you should take the plunge:  Now's the time to do it.  Home sales in the nation have been rising for the past four months now.  Home prices were up again last quarter.   I think we've turned the corner.

Tucson has been receiving a lot of national attention in the last month or so, coming in first on Business Week's list of America's Best Affordable Places to Retire.    And AARP just named Tucson #1 as the Best Place to Live the Simple Life.  Tucson's future looks bright!

If I can help you either buy or sell a home, please contact me.  I'd love to work with you!

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

 

 


Aug 23, 2009
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In a recent article in Business Week, written by Prashant Gopal, Tucson is first on the list of America's Best Affordable Places to Retire.  It cites not only is it a beautiful place to live, but the new levels of home affordability make Tucson even more attactive as a retirement destination.

 To read the whole article, click on the link below:

http://images.businessweek.com/ss/09/07/0702_affordable_places_to_retire/index.htm

 

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

 

 

 


Aug 21, 2009
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In the new September & October issue of the AARP Magazine, our fair town of Tucson was named #1 on the list of best places to live the simple life.

Their top 5 cities were:

1.   Tucson, AZ

2.   Greenville, SC

3.   Montpelier, VT

4.   Logan, UT

5.   Ames, IA

To read the complete article, click the attached link:

http://www.aarpmagazine.org/lifestyle/the_simple_life.html

 

 

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


Aug 21, 2009
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For the past few years people have been asking me when will be the best time to buy a home.  They want to know when the market will hit bottom.  Of course, there are a lot of factors involved, as well your own unique needs.   Funny thing is, by the time you realize it's hit bottom, the market's already on it's way up.  And though no one can predict with certainty what the future holds, there are certain undeniable signs that now is a great time to buy:

  • Home prices are lowest they've been for years
  • Interest rates at near historical low rates
  • There's lots of inventory available to choose from
  • Sales activity has consistently increased month-over-month, as well as compared to same time last year
  • Sellers are willing to make buyer concessions (Often they'll pay the buyer's closing costs or make other valuable contributions)
  • Government tax credit of up to $8,000 to qualifying first-time home buyers (The sale must be finalized before December 1, 2009)
  • Signs of recovery in financial markets and economy

If you'd like to receive some more detailed information about the Tucson housing market, just let me know.  I have lots of interesting statistics I'd be happy to send your way.

I work with both buyers and sellers, and would be happy to help you with any of your real estate needs.

 

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

 

 

 


Aug 13, 2009
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There's still time to take advantage of the special $8,000 tax credit to first-time homebuyers (or folks who haven't owned a home for 3 years).  At the time of this writing, the credit is valid for homes purchased by December 1, 2009.  This means the home would need to close escrow before that date.  The typical escrow takes 45-60 days from date of contract acceptance.  So in other words, if you want to take advantage of this credit, you should probably have searched for and found the house you want to purchase by the beginning of October.  

The credit comes to the first-time home buyer as a credit on their federal income tax return filed before April 15, 2010.  There is a special form you must use when you file your return.  If you would like a copy of it, you can get it from the IRS website, your accountant, or I would be happy to provide you with a copy of it.

If I can help you find a home to qualify for this $8,000 credit, please contact me.  I love working with first-time buyers!  I take the time to explain the entire process and all the details.  My buyers have said I made purchasing their home stress-free, and a lot of fun. 

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

 


Jul 24, 2009
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Here's a link to an article on Walletpop.com, by AnnaMaria Andriotis, a reporter for SmartMoney.com.   AnnaMaria says there are five types of loans to avoid.   It's worth the read.  And if you find yourself in a financial pinch, as so many have these days, don't become a victim of these.  Instead, find alternatives that won't gouge you, or penalize you, and that make more financial sense.

 

 http://www.walletpop.com/top5/loans-to-avoid

 

 


Jul 24, 2009
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FHA (Federal Housing Administration) loans have become increasingly popular in this market.  Probably the biggest reason is because a buyer can get into a home with a low downpayment.   Currently the requirement is 3.5% of purchase price.    Also, some of the inspection and repair requirements have eased up over the years, so it's really no more difficult to finance a home using an FHA loan.  In the last year, approximately 46% of all mortgage applications were for the government backed loans.

In June the FHA set a new record, guaranteeing 186,000 mortgages, the most ever in the 75 years they've been around.

If you are considering purchasing a home and would like more information on FHA, VA, or conventional loans, please contact me.  I would be happy to put you in touch with several capable and friendly lenders who can you provide you with all the details and quote you current rates.

 

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

 

 

 


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