Patricia Paul Properties

Patricia Paul Properties

Commentary on Tucson Area Real Estate, Home Ownership, Rental Homes, and Life around the Tucson Community
Tag » Tucson Community News
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 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 22, 2009
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'Twas the night before the night before Christmas.....

We just got home from taking a drive around the neighborhood to look at the Christmas lights.   Some people have put forth a whole lot of time and energy to create a winter wonderland.   Though most any home looks good with lights on it, some obviously stand out from the rest.  Maybe because of the number of lights used, or the creative way they are used in decorating, or maybe it's a theme that's carried out.

Christmas decorations have come a long way from when I was a kid.  Back then, the outdoor bulbs were huge, and the only choices were clear, or multi-colored.  Maybe ten years ago they invented the icicle lights; they became real popular.  There are also chasing lights, single colored strands, air-filled decorations, mechanical wire statues and lots more!

If you're new to Tucson, or even if you're not, you should check out the Winterhaven Festival of Lights (entry from Ft. Lowell or Prince, west of Country Club).    This whole neighborhood decorates for the holidays and puts on quite a show.  Some nights are open only to pedestrians, other nights cars and hay rides are allowed.   To see the schedule, go to the following link:

http://www.winterhavenfestival.org/festival.html

And now, I'm off to go watch "La Boheme" the movie, on PBS.  It stars two of the most popular and attractive young opera stars, Anna Netrebko and Rolando Villazon.   This opera by Puccini is probably one of the most recognized in the world.  It's an incredible love story that takes place in Paris.   Act 1 opens on Christmas Eve in the Latin Quarter.   Hope you see it and enjoy it.  I know I will!

Patricia Paul, GRI *** www.PatriciaPaulProperties.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 19, 2009
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New Listing in Midvale Park! 

This is a great 3 bedroom, 2 bathroom home in Midvale Park.  Central A/C, 2-car garage, 1,154 square feet of living space.    Includes refrigerator, oven/stove, microwave, dishwasher, and disposal.   Laundry room with hook-ups.  Huge covered rear patio with enclosed back yard.  Ceiling fans, window coverings included.  This home is scheduled to be painted next week.

Great, convenient location!  Quick access to I-19!  Great shopping and restaurants nearby!  Close to so many major employers! 

All these amenities, and this home rents for only $895! 

Call today for your showing!

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


Dec 18, 2009
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Today I went to The Loft Cinema on Speedway to see "The Nutcracker".  It was recorded in St. Petersburg, Russia at the Mariinsky Theatre.   This is the same theatre where The Nutcracker mades its original debut back in 1892.

Most everyone is familiar with the beautiful music, and loves this work by Tchaikovsky.  It is associated with the Christmas season.

This version of the ballet was recorded in High-Def and was really quite a spectacle.   The stage sets and costumes were a remarkably creative and fantastic.   Part of the fun was watching shots of the interior of the theatre.    Like many of the opera houses and theatres of Europe, it is beautiful, luxurious, and elegant; a multi-storied building surrounded with private viewing boxes.   And the public dresses up for the events, much more so than we do here in the United States.

The Loft also shows many art films and foreign films.

Ballet Arizona usually puts on a live performance of  The Nutcracker each year.   And if you haven't been fortunate enough to see A Southwest Nutcracker, you should make it a point to.   It's a fabulous version with the characters revised to fit in with the desert southwest.  The costumes also reflect our region.  We are fortunate to have so many opportunities!

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


Nov 27, 2009
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Our homes suffer months of baking in 100+ temperatures every summer, but then eventually the heat subsides, and we jump into the fall.   We all appreciate the cooler weather when it arrives, and that is a good time to take a look around your home.  Look for any areas on the exterior that are damaged or need touch-up.  Check for holes or defects that might be unwanted havens for bees or other insects.  Look around the base of your home for any evidence of termites.  You might see a mud-like trail coming up from the ground.  If so, have a professional come out and treat and consider placing your home under a termite warranty.

If your home has a pitched roof and gutters, check to see they are clean and obstruction-free.   Carefully take a look at the roof if you are able.  Are tiles or shingles missing?   On a built-up reflective roof,  look for areas where the coating is deteriorating or determine when to schedule the next recoating.   If you have and use a fireplace, you might consider having it inspected or the chimney swept.

Make sure you cover and protect your exterior hose bibs and piping to prevent the pipes from freezing and bursting.  You might consider wrapping them in a sleeve or foam covering.   Yes, even Tucson has nights of hard freeze!  Check the weather stripping around the house and garage doors, and replace if necessary.

Inside your home, you might want to make sure your home is properly insulated.   Take a look in the attic or crawlspace of your home if you have access.   Are there areas that have insulation missing?  You should also check the windows, checking for gaps or drafts around the window frames.  Back in the midwest, homes had storm windows.  Here in Tucson it's rare to see them, but a lot of homes have dual-pane windows.  They help insulate, too.  If you see condensation inside the windows, the gas seal between the panes of the glass may be broken.  This is also a good time to replace the batteries in any smoke detectors and alarms.

Have your furnace serviced.  Having a professional keep an eye on your heating/cooling system can prevent troubles down the road.  One of the best things you can do is be faithful about replacing or cleaning (washing off) your filters, whichever your system calls for.  This helps the system run more effiiciently and saves you money in the long run.  Check the furnace vents and how they are aimed.  Are there rooms or areas you never use that you are heating unnecessarily?

These simple steps should get you through the colder months and help keep your home in tip-top shape.

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

 

 


Nov 27, 2009
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Sorry about my absence this month.  I experienced some technical difficulties with my website, but it appears we have it back up and running now.  I discovered that I missed blogging when I was unable to.

I hope you all had a happy and peaceful Thanksgiving holiday.  Whether you celebrated with family or friends, or even by yourself, I hope you had a good meal and were able to find reasons to give thanks.

During this holiday season the good organizations that provide for the needy in our city (Community Food Bank, Salvation Army, Gospel Rescue Mission, etc.) are finding the number of people needing assistance going way up, while their donations are going down.  With the tough financial conditions out there, I urge anyone who is able to contribute.   And if you can't spare some food for the hungry, perhaps you can donate some of your time. 

You can either contact the charitable foundation of your choice, or contact the Volunteer Center of Southern Arizona at (520) 881-3300, or online at www.volunteersoaz.org .  It is good to give back to our community!

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


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