Habitat Office Build Days

Habitat Office Build Days & Video from Habitat Tucson... a great time of year to remember to always give back to the community

http://www.habitattucson.org/news-events-2/building-freedom-day/

Sonoran Hot Dogs

Sonoran Hot Dogs from Tucson...
These sound great, I have to try one of these!

http://www.youtube.com/watch?v=QXaXy4aeJt4

From Attorney Jane Larrabee...

From Attorney Jane Larrabee

Let's Talk About...

Saving the Family Business

JD Anstar owned two successful businesses. The first was a food distributorship operating in five states. The second was a group of seventeen nursing homes. JD had a significant net worth, much of it tied up in the two businesses.

The businesses were run by JD's daughters. They handled almost all of the day-to-day operations and were very good at what they did. He felt it was time to start transferring ownership of the business to them.

Many years ago, JD had remarried and had a son from this second marriage. JD's son had a successful career and had no interest in joining the family business.

JD knew he faced several major hurdles.

First, because the business value was significant, he knew he faced challenges in transferring ownership of the business to his daughters without paying a hefty tax.

Second, he wanted to make sure that he had enough retirement income so that he could maintain his lifestyle and meet his income needs for the rest of his life.

Lastly, he wanted to make sure that he treated his son fairly. He appreciated that equal did not always mean fair, since his daughters had already put years into building the business. But he felt that his son should still receive a significant amount. Yet he did not want his son to have to wait for his sisters to make distributions from the business, nor did he want the daughters to feel like they were constantly under scrutiny from their brother.

He started with an appointment with his company lawyer, who referred him to an estate planning specialist. The specialist worked with JD to create a plan that minimized gift tax (the tax due when transferring assets to a child) and yet accomplished the transfer of the business to his daughters. Because the transfer was structured as an installment sale, a planning strategy used for transferring asset from one generation to another, JD was comfortable that his cash flow needs could be met for the remainder of his life.

As a side advantage, any future appreciation in the assets would belong to the daughters. This would save estate taxes later at JD’s death. From the daughters’ point of view, the plan was attractive since it meant that future growth would belong to them. This made sense to everyone because the daughters were the ones showing up every day and creating new value.

JD’s lawyer also consulted with a trusted insurance professional. Together they structured a life insurance plan that was affordable to JD and to the company. The life insurance would pay when JD and his wife died and provide an inheritance to JD’s son in an amount that satisfied JD's desire to be fair to all of his children. The insurance was structured in such a way that neither the premiums nor the death benefit would be subject to gift or estate tax.During his annual meeting, five years after the plan was put into place, the lawyer visited with JD to discuss how the plan was working. JD reported that even in the down economy his daughters had been growing the business and providing the cash flow needed to complete the installment sale as well as funding the insurance premiums.

JD’s most important comment was that he got what he wanted from the plan and was thankful for the thoughtfulness and expertise brought to the table by each of his advisors.Business succession is often tied in tightly with estate and wealth transfer planning. In today’s environment, be sure that the members of your planning team have the expertise needed to help you accomplish your goals.

To talk more about how this issue, visite Jane Larrabee's website www.janelarrabeelaw.com

Keeping Current Matters

A presentation from Keeping Current Matters about the the current housing market and other important information to know.

http://www.keepingcurrentmatters.com/NAR2010/

Tucson Housing Report for November 2010

Here is the Tucson Housing Report for November 2010. Check it out!

Tucson Main Market Nov 10

Rex's Ranch

Rex's Ranch, easy drive from Tucson, pretty grounds, funky interior, restaurant is excellent, and Restaurant Pheasant and Tubac is excellent Italian Food!

Stay or Go

Here is an easy chart that can help determine some of the options that are available with short sales and foreclosures.

Stay or Go Flowchart

Here is the October 2010 Tucson Housing Report. Check it out!
Main Housing Report 10-2010

Wilderness Path and Lake Turbo

We just installed a pond for our back yard and a wilderness path down to the arroyo. Wonderful way to enjoy nature.
We have some mosquito fish and will put in one gold fish. The intent is to have the quail and hawks and rabbits and coyotes and bobcats come up during our sizzling hot summers for a drink and dip. Next summer, some photos of wildlife.

Can Rates Go Down Any More?

Can Rates Go Down Any More?

Staging Your Home

Staging a home prior to putting it on the market to sell gives a Seller a great advantage. If the home is vacant Staging is very helpful. Stage Tucson, Nancy Mahlstede is excellent.

http://www.homestagingresource.com/sellervideo.htm

MLS Tour on Friday

MLS Tour on Friday- We met at PF Changs on Friday to promote our homes that will be on tour. PF Changs is very generous to open the restaruant for multiple listings service. I support them.

Peggy and I at our office Survivor party to celebrate being in the new building for two years and surviving! Peggy and I have 55 combined years of working in real estate.

Home on Tour

Here we are at my home on tour.

7449 E Placita Del Espiritu Tucson, AZ.

Gated, 3 bedroom, sterling built, $210,000.

Presentation at Fairwinds Desert Point

Fairwinds Desert Point

Presents:

Planning for the Next Phase of Retirement

I and 3 other ladies presented Good Housing information at Fairwinds Desert Point on Tuesday, October 5th.

Jenny Brigdoll and Cat Belue, Cupboard to Closet, specializes in senior relocation, taking a holistic approach on making a smooth transition, and spoke about organizing and downsizing.

Margaret Roberts, Adult Care Hunters, discussed the different types of care available, the features and benefits and the costs involved.

I, Senior Real Estate Specialist, shared statistics on the current residental real estate trends in Tucson, as well as offered tips for selling.

A wonderful morning and presentation!

4th Annual Tucson Classics Car Show

4th Annual Tucson Classics Car Show
A Rotary Club of Tucson Charity Event

SATURDAY OCTOBER 16, 2010

Lots of grass surrounded by trees...A Car Show You'll Love!!

Entry Info:

-1st place in each class recieves a $100 award and trophy.
-Sponsor Award for sponsor favorites.
-Rotary Club of Tucson will award $1,000 and trophy for "Best in Show".
-With each entry you get a chance to win a car or $10,000 in cash raffled off during the show.
-Friday night dinner get-together with entertainment (at $10.00 per person).
-Entertainment all day long and a kid's play area.
-Check out their website- www.tucsonclassicscarshow.com for host hotels with show rates
-Give a hand up to local kids and have a great time too!
-Complimentary morning coffee for each car entered. Breakfest items will be available for purchase.

Located on the lawn at St. Gregory College Preparatory School
Saturday October 16th from 10am to 4pm.
3231 N. Craycroft Rd- Be there... or be square.

www.tucsonclassicscarshow.com 520-440-4503


Now this sounds like fun!

Presentation at Sun City

Friday we three Senior Experts gave a presentation at Sun City for about 50 residents. Margaret Roberts of Adult Care Hunters, Sharon Harn of Sharon Harn Organizers and I talked about what's really happening in our housing market and Tips for Selling. Next presentation is on Thursday the 30th at the Forum. Grant Rd. and Rosemont.

Exciting events in the Tucson area!

VisitingTucson.org presents some great upcoming events that will be happening in Tucson in the near future!

Arizona Restaurant Week in Tucson Sep. 18 - Sep. 26Select Tucson restaurants offer varied three-course, signature dinner menus starting at $19/person during the Arizona Restaurant Association's celebration of the state's culinary diversity.

Charlotte's Web Sep. 22 - Oct. 3Pima Community College Theatre Arts students bring to life the award-winning children's novel about Wilbur the pig and Charlotte the spider at the Proscenium Theatre PCC, West Campus.
Cochise County Fair Sep. 23 - Sep. 26Old-fashioned carnival, with midway games, contests, food and gift vendors, 4-H exhibits at Cochise County Fairgrounds in Douglas.

HoCoFest Music Festival Sep. 24 - Sep. 26Hotel Congress presents over 40 local and national acts; solar-powered entertainment venues; record, family, and eco fairs; a barbecue, a fashion show, and more at Downtown Tucson venues.

Tucson Fashion Week Sep. 24 - Sep. 25Metromix and the Fashion Week Collaborative celebrate Tucson's fashion design, retail, and art with a fashion show at Skrappy's Youth Center to benefit the Tucson Youth Collective.

Apple Annie's Corn Maze Sep. 25 - Oct. 31Apple Annie's Produce and Pumpkins opens 18 acres of corn and more than six miles of pathways for this maze with three levels of difficulty, and interactive "passports" to help people find the way.

10th Desert Museum Butterfly Festival & Plant Sale Sep. 25 - Sep. 26Arizona-Sonora Desert Museum hosts day of fun with activities for the family, including butterfly walks, a plant sale, a puppet show, children's activities and gardening classes throughout the day.

2010 HoCoFest Family Arts Festival Sep. 26Tucson Pima Arts Council and Hotel Congress present family-friendly music and performances, interactivity, food, arts organizations, and more at Downtown Tucson's East End.

Making the Most of It: More trends that relate to the emphasis of utility and livability

Homes Grow Greener

Consumes spend an average of $1,900 each year on utility bills*, so a desire to trim the household budget often goes hand-in-hand with a homeowner's investment in upgrades that increase energy efficiency or water conservation. In many cases, these improvements pay for themselves with savings over time. Some of the most common features built into new homes and and retrofitted into older ones include:

- Insulated exterior doors
- Low-emissivity (low-e) windows
- Energy-efficient appliances, lighting and HVAC systems
- Programmable thermostats
- Tankless water heaters
- Solar panels
- Extra insulation
- Water-saving plumbing fixtures and appliances

*Source: U.S. Department of Energy

--

Average Size of a new Single Family House in the United States*

1950: 983 square feet
1970: 1500 square feet
1990: 2050 square feet
2007: 2479 square feet
2008: 2473 square feet
2009: 2422 square feet

*U.S. Census Bureau

--

OFFICE Wins Most Popular Specialty Room*

Nationwide surveys show that many homeowners now want fully functional residential spaces that are thoughtfully designed to match their lifestyle that cost less to maintain over time. Ask your real estate professional if you would like to know which specific trends are most evident in your local area, especially if you are planning a renovation project that could impact your home's resale value.

40% Home Office
18% Mud Room
16.2% Media Room
6.2% Guest Suites
4.3% Fitness Room
3.3% Hobby/Game Room
11.9% Other

*AIA Home Design Trends Survey

--

Options Create Opportunities

Many builders have incorporated flexible spaces that give buyers the option to dedicate a room to meet their specific needs and preferences or to serve multiple purposes. For example, a formal dining room calls for a chandelier and open access, whereas double doors and built-ins can easy create a private home office or library in the same space. It is now also more common for the owners of older homes to alter their floor plans to work better with the way they live.

Now here's a GOOD service..

PROPERTY CHECK
"Protecting your Property...While you're away"

Serving you with over 20 years of property oversight experience. Call now to see how I can make your time away from home - a relaxing one.

Mike Sheldon
520-870-6113
Email: Sheldon1125@gmail.com

Basic Service includes:
-Checking your house and property on a regular basis
-Picking up flyers and newspapers
-Ensuring that yard services and housekeeping services are being performed
-Watering indoor plants
-Adjusting thermostats
-Monitoring sprinker systems and plumbing
-In additon, making sure security systems are set and windows and doors locked. Rotate lights and adjust window treatments to give your house a looked-in look.
-If you are gone for a long period of time, special services to prepare your home for your extended stay and take special steps to make sure everything in your home is kept in good condition.
-Oversee your pool to ensure that your pool company is servicing the pool as schueduled, empty filter baskets, monitor the water level, add water if needed, and perform a visual check of the pool's condition.
-Additional services are available such as special preperation on day of depature on a trip and preperation for your return, getting carpets cleaning, coordinating home mainenance and repair contractors, and even overseeing home improvement jobs.

Property CHECK has a broad range of servces and welcomes the opportunity to customize a package to meet your individual needs, no matter how complex, unusual, big, or small.

Gem Show in September!

Hello my friends! Did you know there is a Tucson gem show in September? Yes, and even though it is smaller than the Februrary show, it is a good time for Tucsonans to shop! 'A Bead Circus' are a part of this show and they are OPEN TO THE PUBLIC, no worries about re-sale licenses and documentation, just come on down and get a taste of gem show without all the congestion of February.

Please feel free to drop in between now and Sunday 9-5 at A Bead Circus, 3301 E. Pennsylvania Street, Just one block north of the Holidome (Holiday Inn on Palo Verde). The cross streets are Randolph Way and Ajo, then head south to Michigan and follow the big signs to the showroom. Trust me, you will have a fun experience and recieve all the gem show special pricing.

They have 'tons' of beads, stones from around the world, glass beads from Czech Rebulic, Swarovski crystals and pearls, Chinese crystal and shimmer glass, ‎400 colors of Japanese seed beads, Czech fire polish, vintage glass and lucite beads from West Germany, lampwork beads from India, tools, wire, findings, and supplies."Everything you need to bead." Since they don't own their own building, and are not cramped up in a booth with other vendors, you'll find plentiful parki...ng and a spacious showroom to browse to your heart's content.

SIZING DOWN TO A SMALLER HOME

Come and listen to 3 experts speak at one of the leading Retirement Communities in Tucson with Independent, Assisted Living and Memory
Care available.

The Fountains located at 2001 W Rudasill off (Orange Grove & Rudasill).
Call Carleen Robinson for reservations. 520-797-2001. 9 a.m. on Thursday Sept. 9th.

Sherie Broekema @ Long Realty Co. will give "Tips on Selling in Today's Market" and Real Estate Statistics.
Sharon Harn of Sharon Harn Organizing will talk about organizing your belongings so it is easy to move.
Margaret Roberts of Adult Care Hunters will talk about all the ways a Placement Advisor can help you select the right home for you, from budgeting, location, size and more.

Come and have a Tour of this lovely community and hear 3 great speakers. Be sure to RSVP to Carleen Robinson at 520-797-2001

________________________________________
September 1, 2010
A Dream House After All
By KARL E. CASE
Boston
IF you read the coverage of the latest figures on the sales of existing homes from the National Association of Realtors, you may well have come to the conclusion that the American dream is dead. It is indeed worrisome that sales in July were down 25 percent from a year ago.
But a little perspective is in order.
First, the bad news. What has happened in the housing markets since 2005 is a catastrophe that may take years for our economy to recover from.
Anyone who believed that home prices never fall has learned a tough lesson. The Case-Shiller price indexes released on Tuesday suggest that since their national peak in 2006, home prices have fallen by 29 percent. Some areas of course look better than others. Las Vegas is down 57 percent from its peak and Phoenix is down 51 percent. On the other hand, Boston is down just 13.5 percent and Dallas only 4.2 percent.
The effect on household wealth has been huge. Data maintained by the Federal Reserve show that the value of residential real estate directly held by households fell to $16.5 trillion in the first quarter of 2010, down from $22.9 trillion in 2006. It has yet to be determined who will end up bearing those losses. The decline in wealth has substantially reduced consumption, stifling the economy.
Depressing, yes — but the end of a dream? Not exactly. I have never quite understood what the American dream really means when it comes to housing. For some people, it means having a solid and fairly safe long-term investment that is coupled with the satisfaction of owning the house they live in. That dream is still alive.
Others, however, think the American dream is owning property that appreciates by 30 percent a year, making a house into a vehicle for paying bills. But those kinds of dreams have become nightmares for the millions of foreclosed property owners who have found themselves sliding toward bankruptcy.
But for people with a more realistic version of the American dream, buying a house now can make a lot of sense. Think of it as an investment. The return or yield on that investment comes in two forms. First, it provides what is called “net imputed rent from owner-occupied housing.” You live in the house and so it provides you with a real flow of valuable services. This part of the yield is counted as part of national income by the Commerce Department. It is the equivalent of about a 6 percent return on your investment after maintenance and repair, and it is constant over time in real terms. Consider it this way: when Enron went belly up, shareholders ended up with nothing, but when the housing market drops, homeowners still have a house. And this benefit is tax-free.
The second part of the yield on investment in a house is the capital gain you receive if it appreciates and you sell the house. Gains are excluded from taxation if the property is a primary residence and the gain is less than $250,000 for a single filer or $500,000 for a married couple filing jointly.
Consider a few other bonuses of buying a home today. You can deduct the interest you pay on the mortgage. Interest rates are about as low as they can get. And, don’t forget, home prices are down by 30 percent on average from the peak. The mortgage-interest deduction and the tax-free income from housing cost the government at least $200 billion a year.
During this recession the government has been doing even more on behalf of the American dream. It offered a tax credit of $8,000 to first-time buyers, and eventually $6,500 to other qualified buyers. Not only did the Federal Reserve continue to keep the short-term interest rates it sets at essentially zero, it purchased $1.4 trillion in mortgage-backed securities so that lenders could keep mortgage rates low.
Do the math. Four years ago, the monthly payment on a $300,000 house with 20 percent down and a mortgage rate of about 6.6 percent was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20 percent down would carry a rate of about 4.2 percent and a monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000.
IN fact, until about two months ago, it looked as if potential buyers were beginning to understand all these advantages and that the market was turning around. By May 2009, housing prices had stopped falling in a majority of the metropolitan areas surveyed in the Case-Shiller index. Sales were also up. In 2008, 4.9 million existing homes were sold. In 2009, the figure rose to 5.2 million; last November, sales hit an annual rate of 6.5 million (a boom-time number). Even new construction showed a pulse.
So, what happened to kill the momentum? For one thing, the first-time buyer credit expired at the end of April. And some longer-term demographic changes may also be affecting the housing market.
In the next several years, the Census Bureau and other demographers project that the number of American households will increase by 1 to 1.5 million each year. With new construction sagging, we should be experiencing a tightening market with low vacancy, as has occurred in every housing cycle since World War II. But instead of falling, vacancy rates remain at near-record levels.
My guess is that the number of households has not been growing as much as projected and may even be falling. We won’t know for certain until the 2010 census is complete. This figure depends on many factors: immigration, emigration, the age distribution of the population and the number of young adults staying at home or doubling up. Unemployment is high, and we know that without jobs people tend to move in with Mom and Dad. And we don’t make immigration easy, even for those with advanced degrees who would be most likely to enter the housing market. None of this bodes well for a quick recovery.
While demographic trends are uncertain, one important reason for the recent downturn is clear: The steady drip of bad news about the economy has sapped the confidence of buyers, sellers and lenders. And there is no understating the importance of expectations and confidence in this industry.
Real estate sales are unlike other financial transactions. You can place a rough inherent value on a stock or bond by looking at fundamentals: a company’s profits, price-to-earnings ratios, quality of its products and management, and so forth. But a house is worth what someone is willing to pay for it. That’s a very personal, emotional decision.
And emotions can change on a dime. To try to track moods and expectations as part of our Case-Shiller data, the economist Robert Shiller and I send out 2,000 questionnaires each year to recent homebuyers in San Francisco, Los Angeles, Milwaukee and Boston, asking them what they think is likely to happen to the value of their houses over the next year.
In 2005, respondents felt on average that prices would rise 9.6 percent. In 2008, they anticipated a small drop. In 2009, the figure turned positive again in all four cities, with an average anticipated gain of 2.2 percent. We have just tabulated this spring’s survey, which found that homebuyers anticipate a gain of 5.2 percent in the next year.
In a given year, the number of completed sales is about 4 percent to 5 percent of the housing stock. Thus it doesn’t take a change in mood of a large number of buyers to change the overall direction of the market.
This financial crisis has made us all too aware that we live in a Catch-22 world: the performance of the housing market drives the economy, and the performance of the economy drives the housing market. But housing has perhaps never been a better bargain, and sooner or later buyers will regain faith, inventories will shrink to reasonable levels, prices will rise and we’ll even start building again. The American dream is not dead — it’s just taking a well-deserved rest.

Attn: Property Taxpayers

Property tax notices are mailed about September 1st for the tax year due. First half taxes are due October 1st of the tax year shown and delinquent November 1st of that same year. Second half taxes are due March 1st of the following year and delinquent May 1st of the following year.

The Best Real Estate Graph of the Year

Wow take a look at this graph! I subscribe to Steve Harney's blog and this is his latest information, pretty interesting!


The Best Real Estate Graph of the Year?

New Video

Our CEO of Long Realty, Rosey Koberlein, has a new video and Arizona Housing Market Update.
Check it out at www.youtube.com/longrealty

Breakfast

I had breakfast with two Attorneys this morning at The Good Egg. Sally Simpson, who is a Fiduciary, help clients who are in Assisted Living homes making sure their paperwork is in order plus other work with Seniors. The other brilliant Attorney is Jane Larrabee, who among other things assists Physicians with tax issues for their Estates. She also has a workshop coming up that will cover Special Needs for teenagers. This one will be of value for my contract manager who's 16 year old nephew is Autistic and has seizures. I'll post more information on the date and location of this workshop as soon as I find out!

Just Found This Out

I received this information from Yvette Villamana from Fairway Independent Mortgage (520) 751-4556 in an email recently: Currently the seller is allowed to pay 6% towards closing costs when the buyer is procuring an FHA loan. This is under scrutiny, and FHA may be lowering this to 3%. We'll see what happens!

The Cooler Guy

One of my client's favorite vendors to beat the heat, check him out and see if you like him! www.tucsoncoolerguy.com

Mobile Website

Welcome to my new mobile website! Get access to Property Search, MLS number search, or search for Open Houses all from your phone. Just put this address into your phone's browser: http://www.sherieb.longrealty.com

May Housing Market

Here are the new stats for the Main Housing Market in Tucson for May 2010. Take a look!
Main Housing Update 5-2010

Loan Deficiency

1099-C New Interpretations by AZ Courts, see what Doug Farnham has to say with Mortgage Mediation Group.


1099-C
New Interpretations by AZ Courts
Over the course of the past year or more there has been much discussion in the real estate community of the effect of the issuance of a 1099 by a lender(s) to the IRS following a short sale of a property and reporting the deficiency balances remaining on the loan(s). Many have openly stated that when a lender submits the 1099 to the IRS following the short sale that the lender has reported the deficiency not only as forgiven debt for tax reporting purposes but, has also forgiven the debt for purposes of legal collection against the borrower/homeowners. Many homeowners have relied upon those statements. The exact legal effect of the issuance of a 1099 by a lender on that lender’s right to legally enforce and collect upon the deficiency, however, is not so very clear. The Arizona Court of Appeals has issued an opinion in Amtrust Bank v. Fossett, No. 1 CA-C 08-0840 (Ariz. App. Dec. 15, 2009) in which the court concluded that the effect of the issuance of a 1099 upon a lenders ability to sue a borrower for a loan deficiency has not been decided.
The simple facts of this case are that Fossett had defaulted upon a car loan issued by Amtrust Bank in 2002. The bank repossessed the car and sold it in 2003 leaving a balance due on the loan of $20,000. Two years later, 2005, Amtrust filed a 1099-C with the IRS reporting the sum of $18,000 as “discharged” or a forgiven debt. As a result, Fossett reported the sum of 18,000 as income and included that amount on his income tax returns for that tax year.
Amtrust later sued Fossett for the unpaid balance due on the loan. Fossett filed a motion with the court claiming that Amtrust had “discharged” or forgiven the balance of the loan by the filing of the 1099 and therefore, should not be permitted sue him and collect upon that same debt. Amtrust replied by arguing that the filing of the 1099 was done in order to comply with Federal tax laws and accounting requirements but was not intended to release the borrower from the legal obligation to repay the balance on the loan. The Court of Appeals found that there is no clear position under Arizona law and that there is a split of authority across the country on whether the issuance of a 1099 does or does not act as a release by the lender of the ability to sue a borrower for the remaining deficiency on a loan (in Connecticut it does, but in Pennsylvania it does not). The Court of Appeals remanded the case back to Maricopa Superior Court for final determination at the trial level.

Clearly the issue of whether a lender will be legally precluded from suing a borrower to collect upon a loan deficiency after a short sale because of the filing of a 1099 remains undecided. Arizona courts could go either way on this issue. Until there is a clear and precise ruling from the Arizona courts, borrowers in short sales should not be told that the issuance of a 1099 may provide them any form of protection from legal claims by their lender to collect on any loan deficiencies.


Doug Farnham (Central/Southern AZ)
(602)774-3753
dfarnham@tcmmg.com

Bob Verbic (Northern AZ)
(928)899-5765
bverbic@tcmmg.com

www.MortgageMediationGroup.com

Sabino Canyon Photos

Tucson is beautiful and green right now with all of our Winter and Spring rainfall. It's a 7 mile hike top to bottom, plus many many other trails for hiking. They have trams you can take up and down and hop on and off as you want to. Absolutely gorgeous now! You might even see a Mountain Lion!

Taken by Peggy Nelson

Taken by Pam Treece of the Dove Mountain Office
Saguaro:
Taken by Pam Treece of the Dove Mountain Office
Prickly Pair Flower:
Taken by Pam Treece of the Dove Mountain Office

Steve Harney of Keeping Current Matters

Steve Harney of Keeping Current Matters has a really interesting blog! You may want to follow it!
http://kcmblog.com

Here is the Tucson Main Market Housing Report from Long Realty.com. Check it out!
Main Housing Update 3-2010

Free Public Online Tax Credit Seminar

My company, Long Realty, will present a free public online tax credit seminar on Thursday, February 25 from 6:30 p.m. to 7 p.m. to help consumers better understand the home buyer tax credit that expires April 30, 2010.

This online seminar is available at no cost and will feature Tony Finley, CPA, Chief Financial Officer for Long Companies. Finley will be presenting insight into the new tax credit in easy-to-understand terms while answering live questions from online viewers. He will also explain various scenarios as they apply to buyers and sellers in today’s real estate market and address the impact of the current trends in the real estate market as it relates to buyers and sellers.

The federal home buyer tax credit features a tax credit up to $8,000 for qualifying first time home buyers and up to $6,500 for qualifying current homeowners purchasing a new primary residence. Purchase contracts must be signed by April 30, 2010 and close by June 30, 2010. Certain restrictions and qualifications apply, details can be found at www.LongRealty.com/taxcredit.

Finley is a CPA, has an MBA from the University of Texas, and brings 19 years financial management and leadership experience to Long Companies.

Registration for this online seminar is available by visiting Long Realty’s website, www.LongRealty.com. There is no cost to participate; Seminar is open to the general public and can be accessed by any computer with an internet connection and telephone for audio. This is not a sales presentation; it is a live, informative event.

Home Buyer Tax Credit

FOR BUYERS

The $8,000 first-time homebuyer tax credit is extended
Now, qualified first-time home buyers would receive their $8,000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010
-The home purchased must be their primary residence
-Buyer cannot have owned a home during the past three years
-Tax credit is up to 10 percent of the home’s value (not to exceed $8,000)
-Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

BRAND NEW

-New $6,500 tax credit for current homeowners purchasing a primary residence
-Eligible home buyers must have lived in their current home for five consecutive years of the past eight years
-The new home’s cost need not exceed the current home
-Eligible for homes with purchase agreements written by April 30, 2010 and that close between Nov. 6, 2009 and June 30, 2010
-Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

To learn more about obtaining the tax credit, visit the Frequently Asked Questions and Tax Credit Changes Comparison Chart.
To obtain forms to claim your tax credit, see this information from the IRS.
For further information about eligibility requirements and limitations, visit www.irs.gov or www.FederalHousingTaxCredit.com.

Check all Tucson Homes for Sale on www.TucsonHomes.com and
If you are interested in moving into an Independent, Assisted or Memorty Care
Community in Tucson check out my www.TucsonSeniorResources.com

This web site has information on help if your wish to stay in your Tucson Home or if you wish to sell your Tucson Home.

Sherie Broekema, SRES, CRS, ABR
Long Realty Co.
www.TucsonHomes.com
www.TucsonSeniorResources.com

A Prairie Home Companion with Garrison Keillor

A Prairie Home Companion with Garrison Keillor came to Tucson Convention Center with Public Radio and TV. Last night we watched a two hour live performance of Garrison Keillor which was outstanding. We were surrounded by Minnesotans clapping and tapping their feet to the music. The group iMas played music ranging from Tejano to country to funk. They are a Mexican band and say they are booked for weddings through December.
Dave Rawlings a guitarist, producer, singer, songwriter sang and played for us also. with songs such as I Hear Them All/This Land is Your Land.Plus my favorite part where Garrison does all his songs and stories. My favorite song was There's No Rust in Tucson! Tucson received such nice reviews over and over again in the evening. His research team surely does their home work and we should have even more tourists. coming out to enjoy our wonderful weather and environment. Seems like we are all from somewhere else. My husband from Minnesota and me from Hawaii.

Tucson home sales and Tucson Real Estate should have a boom just from his show.

My Favorite Neighborhoods in Tucson

New edition to my website, www.TucsonHomes.com is My Favorite Neighborhoods in Tucson! Some of the neigborhoods mentioned are Sun City, Stone Canyon, Dove Mountain, La Cholla Airpark, Cobblestone, La Paloma Estates, Skyline Bel Air Estates, Sam Hughes, El Encanto, Colonia Solana Estates, Redington Ranch Estates, Cimarron Estates, Alta Vista Estates, Ventana Canyon Estates, Finisterra Estates, Skyline Country Club Estates, Saddlebrooke.

The Housing Report for the General Tucson Market & Saddlebrooke

As of December 2009 active inventory was 6,327, an 18% decrease from December 2008. There were 850 closings in December 2009, an increase of 15% from December 2008. Months of Inventory was 7.4, down from 10.5 in December 2008. Median price of sold homes was $155,000 for the month of December 2009, down 8% from December 2008. Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 83% from December 2008. If you are looking to buy a home, you now have until April 30, 2010 to qualify for the Home Buyer Tax Credit! Up to $8,000 for first time homebuyers and now up to $6,500 for current homeowners purchasing a primary residence. Contact me for more details.

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