Cheapest and Most Expensive Homes in Tucson by Price/SqFt
July 30, 2009
Just for fun – and contrast – I found the cheapest and most expensive homes in Tucson if you judge by price per square foot.
Cheapest home in Tucson is $9.69/sq ft, at $22,900 – see it here. I’ve been in this one. I know it says major fix-up, but I’d call it a tear-down. With the different levels and holes carved out of the foundation, it’d be easier to start all over than to put any money into rehab, in my opinion. Coincidentally, this is the cheapest home for sale in Tucson just on price alone.
Most expensive home in Tucson is $1,078.80/sq ft, at $6.9 million – see it here. Very nice – I like the brick and beam ceilings. Comes with a Canyon Ranch membership as well. The sleeping porch is an interesting item.
Of course, if we go strictly by dollars, the most expensive home in Tucson is here at $13.5 million. 15 seat theater, 15 auto show garage, 3 car day garage (naturally), and 3 kitchens, if I count correctly. Wow.
More on Water Harvesting and Cisterns in Tucson
July 29, 2009
Thoughts and comments from local architect Jake Boen on Rain Water Harvesting…
Neighbors most likely are the largest obstacle on installing a cistern without stirring the pot. I doubt that many CC&Rs even discuss harvesting or cisterns but I would still check any design guidelines or architectural review that a HOA may have for any home additions or modifications. I doubt they can do much if you install this in your back yard but side yards and front yards could become problematic if you don’t submit your plans for approval first.
Permits – Yes and No. For most cisterns a building permit will not be required but a zoning permit typically is required. The City of Tucson recently issued a memorandum for clarification of Zoning regulations regarding water harvesting cisterns. This memorandum is mandatory reading prior to planing size and placement of any cisterns within the City limits. Essentially size and height may limit placement or invoke screening requirements. Refer to the Land Use Code and: http://www.tucsonaz.gov/dsd/What_s_New/official_cistern_determination.pdf for specifics.
A few years ago I attended a 2 day regional storm water management and rainwater harvesting conference and came away with a better understanding on a lot of what to do and what not to do with water harvesting. This includes a very important but often overlooked design aspect of how to get the water out of the cistern without clogging your shut off valve with dust and debris which will build up in the cistern. A float and flexible inlet pipe allows debris to settle to the bottom and allows debris to build up without causing problems and allows a greater window before maintenance must be performed. This would apply to large complex designs as well as some of the simplest of cistern designs.
Maintenance and responsibility can be an issue. No one wants mosquito breeding. Covers allowing water to flow in but keeping mosquitos out are important. A foam float or thick cooler pads on a foam float can allow water to flow in but keep bugs out. I have also seen large cisterns which utilized fish to take care of bug problems. Other designs will pipe water directly into an enclosed design.
Some companies in town are now offering corrugated metal cisterns with a foundation pre-installed. They are simply set on a level pad and downspouts can be installed to divert water to the cistern. Installation doesn’t get any quicker than that. The size is limited but one does get instant gratification and water harvesting.
Touching on the design issue again I would recommend that clients hire a company or perform careful research on permits, sizing of cisterns, detailing of inlets and outlets, and sizing of structural foundations. A column of water 8 feet in the air most certainly weighs a lot and should be a design concern when placing next to existing structures or on areas which do not drain well.
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Thanks for giving us your thoughts, sir!
Rainwater Harvesting and Cisterns in Tucson Homes
July 27, 2009
Speaking of rain…
I see more and more people using rainwater harvesting techniques in homes around Tucson. Collecting rainwater can be a good way to store some water for our dry seasons to use on your landscaping, save a little bit on that water bill.
But be careful – I met a woman the other day who helps people install rainwater harvesting systems here in Tucson and the biggest problem she runs into are neighbors who don’t like huge ugly cisterns staring at them from across the fence. I’ve seen some really cool looking metal barrel installations though – I kind of like them, but I’m probably not your neighbor!
I found some awesome resources though, if you’re considering installing a rainwater harvesting system. As far as I can tell, if you’re only doing rainwater collection and not gray water collection, you don’t need a permit – but I’d confirm that with some of these resources first.
The City of Tucson talks about Rain Water harvesting here, with some good general advice and links to other resources.
There’s a document with a TON of both rain water harvesting and gray water reuse information and services in Tucson here.
And then the Watershed Management Group has a nice site with information about their programs and whatnot. They’re a non-profit group that provides education and resources to communities trying to better manage their natural resources. They’re having a rainwater cistern design competition through the start of September – looks like a pretty cool challenge for those build-it types.
Rainy or Dry? The Future of the Monsoon This Year
July 24, 2009
Okay, so I’ve been talking about the Monsoon a lot this year. But I do love the rain! Maybe you have to grow up in the desert to be so obsessed with monsoons.
I ran across an article on the KOLD weather blog written by their meteorologist Erin Jordan. It’s an excellent explanation of how the rainy season in Tucson might boom or bust.
An excerpt:
Basically more warm water, means more tropical moisture for us to tap into. Often times this even means more tropical storms and hurricanes in the East Pacific. If our monsoon high sticks to our east, then the clockwise circulation around it helps push some of that tropical moisture right into southern Arizona. That means we may have a great monsoon! But it also means, with a ton of tropical moisture and possibly the left-overs of hurricanes and tropical storms heading our way, flooding downpours could be more common. If that high pressure moves into northern Mexico, which sometimes happens when an El Niño strengthens quickly in the summer, then our moisture would be cut-off, driven to the north. Our monsoon storms would have little chance to overcome the warm pool of air sitting over us. Right now the high is sticking to out east. We are watching it very, very closely for movement.
Most of us hope for a strong rainy season – but too much and it can flood and cause damage. Too little and our supply and plants don’t get replenished. It’s an excellent article, I think it explains the potential of the monsoon this year very clearly. Check out the full KOLD weather blog here.
Photo via Flickr, courtesy of limulus
Home Storage in Tucson – Meet the Shed
July 22, 2009
I do a good bit of business from people moving to the Tucson area from back East – whether they’re retiring or moving for a job or just buying a vacation home. Turns out, back East, their homes have this mysterious thing called a "basement."
Not so much here in Tucson. Our homes are largely built on slabs without basements.
Which means those nice folks from back East all of a sudden have to find space to store all their stuff when they move out here.
Newer homes tend to have garages, which can provide some decent storage opportunities. Older homes tend to have carports, sometimes with a little storage room at the back. But by and large, we have sheds. This lovely specimen is one of two in my yard – one for messy tools and bikes and yard equipment, one for household goods and suitcases and random other things. Yes, I have two. But I don’t have a carport or any other storage other than a linen and coat closet in my house. 
Sheds can vary widely. I’ve seen some really nice structures that had a full concrete foundation and a real shingle roof, block walls, some even have power and lighting and occasionally some kind of cooling system. And then there are some half-leaning scary corrugated metal things sitting on the dirt.
Then again, moving is an excellent opportunity to get rid of a lot of stuff most people don’t really need. And it feels good to donate it to someone who really does. But I’m sort of a minimalist when it comes to stuff.
It Could Be More Difficult to Get a Loan – Soon
July 20, 2009
News from the Mortgage Reports this morning that loan approvals will be getting more difficult soon.
You guys remember when we talked about Fannie Mae? No, not the chocolates. The organization that buys loans on the secondary market.
Basically, lenders want to be able to sell their loans to Fannie Mae, so when Fannie Mae comes out with new guidelines, lenders change their guidelines too. The latest update from Fannie Mae is due to become in effect at the start of September.
You can read the whole article about the new Fannie Mae guidelines here In a nutshell, your documentation can’t be more than 90 days old, your tax returns and tip income comes under greater scrutiny, stock market assets are only given 70% of market value, and retirement assets are only assigned 60% of market value. And you can’t use a spouse’s expected income to help qualify, say, when moving to Tucson, until that person actually has a job.
There are also new, more restrictive rules for duplexes, whether you will live in part of the duplex or not.
If you’ve got a loan pre-approval and are waiting on the sidelines, you might want to pick up that phone and have a chat with your lender, see if these new guidelines will impact you and how much you can purchase. And if you’re looking for a lender, send me an email and I can recommend several excellent ones.
Arizona Wines as Reviewed by Gary Vaynerchuck
July 15, 2009
I don’t know if you guys have heard of Gary Vaynerchcuk or not – he’s built a reputation as an incredible businessman, with sort of an exuberant raw personality that turns the somewhat fancy wine business into something anyone can understand and enjoy without being worried about what wine goes with what meat and temperatures and whatnot. He does a show on wines over at Wine TV.
Anyway. I follow "Gary Vee" over on Twitter and tonight, he let everyone know about a new episode where he reviews wines from Arizona. The first 3 minutes are a bit of silliness, skip to about minute 3 to get to the Arizona wine parts.
Now, we’re not a gigantic wine producing region, but Southern Arizona has a couple of wineries.
The three wines reviewed:
- Kokopelli Private Reserve Shiraz (He gave it 68 points. Seems he’s not a big fan.)
- Pillsbury Roan Red (He gave it an "okay" at 78 points.)
- Callaghan Z5 ("A fruit bomb that tapers and calms down as you drink it." 80 points.)
Check them out for yourself! The Callaghan Vineyards are just an hour south of Tucson, in Elgin, AZ, open Fri-Sat from 11-3pm.
Buying Foreclosure Homes with FHA Financing in Tucson
July 15, 2009
What home buyer doesn’t want a bargain?
More and more often in this market, I’m coming across first time home buyers looking for that special foreclosure deal – and want to use FHA financing.
FHA is an attractive option for people who intend to live in the house they purchase, because it only requires a 3% down payment. Lots of home buyers – especially first time home buyers – take advantage of programs like FHA to get into a home with low down payment.
However.
Traditional FHA financing requires that the house be in good enough condition to qualify for that loan. And quite honestly, so many of the foreclosed homes in Tucson that I see aren’t in good enough shape. I’ve participated in enough FHA financing deals that I’ve got a pretty good eye for what will and what won’t pass muster.
There’s good news though – but expect to jump through a lot of hoops.
FHA has a fix-up loan program, the FHA 203k, where you can finance fix-up costs. The funds for repairs are placed in an escrow account and are released in draws as the work is completed. And as with all FHA loans, they can be used on 1-4 unit properties that the owner will occupy.
Those loans aren’t nearly as simple, so be sure you’re working with people that understand the process!
More resources from the HUD site:
Tucson Market Statistics and Report – June 2009
July 13, 2009
The Overview via Podcast:
Download Tucson Market Stats for June 2009 here (MP3) or subscribe to the Tucson Market Reports podcast here.
The Quick Numbers:
- Single Family Home Average Sales Price: $225,105
- Single Family Home Median Sales Price: $175,000
- Single Family Home Units Sold: 877
- Single Family Home Months of Inventory: 6.3 months
- Townhouse Average Sales Price: $166,897
- Townhouse Median Sales Price: $150,000
- Townhouse Units Sold: 77
- Townhouse Months of Inventory: 7.8 months
- Condo Average Sales Price: $114,360
- Condo Median Sales Price: $107,000
- Condo Units Sold: 52
- Condo Months of Inventory: 9.0 months
- Citywide Average Sales Price: $214,926
- Citywide Median Sales Price: $167,750
- Citywide Units Sold: 1006
- Citywide Months of Inventory: 6.6 months
June was a big month for the Tucson real estate market! Check out the number of homes that sold – 1006 units. It’s been nearly 2 years since we saw that level of movement. Early summer is our high season for sales – having the number of homes sold rise in June in Tucson is pretty typical. Still, it’s nice to see some movement.
Average and median sales price moved just a tiny bit – nothing too exciting there. Average sales price citywide for June in Tucson was $214,926 and the median was $167,750. Remember, that figure includes single family homes, condos, and townhomes. You can look at the average and median sales price for each of those over on on the market statistics page.
Inventory dropped about 200 units to 6609 active homes on the market. Given that drop and the rise in units sold, our months of inventory was at 6.6 months, citywide. Not too shabby. We are far from being out of these woods, but at least there were a few small bright spots in June.
So which price ranges are selling? The $0-$150,000 groups took a large jump in number of sales in June. The lower price brackets are doing a swift business this summer. Higher end, not so much. There’s a little bit more activity in those higher price ranges, but proportionally, that lower end is where they’re moving faster. I’ve got some listed vs sold charts that break down each price bracket over here – sort of interesting to see how much inventory is out there in each price bracket versus how many are actually selling.
The Southwest part of town had the lowest months of inventory in June, at 4.5 months. There were nearly 100 sales out there, nearly a 30% increase over last month. Of course, the prices are still dropping at an uncomfortable pace in that region. It was hit so hard with foreclosures and short sales.
The Northwest had a decent month, with 255 sales and 7.2 months of inventory, a figure that’s been slowly dropping since January. Sales prices are still going down there too, albeit a little more slowly and with a lot of bounce.
As always, there are extensive charts and statistics and whatnot, broken down by area and type of housing, over at my Tucson market statistics site. The market in this city varies widely from one end to the other, so you can check out what’s going on in your area over at that section of my site.
Data gathered from the Tucson MLS and is deemed reliable but not guaranteed. Figures quoted here include only single family homes, townhomes, and condos in the 9 areas that make up the Greater Tucson Area: NW, N, NE, W, C, E, SW, S, and SE.
Solar Ready Required for New Construction Homes in Tucson
July 10, 2009
News about Tucson new homes having to be solar ready from my friend and architect Jake Boen over on his In Place Architecture blog.
Tucson to Require New Homes to be Solar Ready
Back in 2008, the City of Tucson voted to require all new homes to be solar ready for electric and hot water, as an effort to promote solar energy and reduce greenhouse gases.
The City of Tucson announced the requirements to comply with the new solar rules a few days ago. In a nutshell, the site plan has to show the best space available for photo voltaic equipment, show the best roof space available for solar panels, and show the electric panel with a 240v circuit breaker space labeled "reserved for photo voltaic."
I get a lot of inquires about installing a solar energy system on existing homes from my clients, it will be interesting to see how many people building new homes will actually install those solar systems. And what that will do to the cost of construction.
Click through the links above to find out more. There may be tax and utility incentives as well…
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