We have seen steadily falling available inventory in Tucson since the beginning of the year.  When we fell below 6,000 available properties we went below the 6 months of available inventory, considered to be a “normal” market inventory.

In April our Active Listing inventory fell to 3,770.  That is actually about a 4 month inventory given our current market conditions.

Active Listings are Falling All Across The Country

We are hearing from agents in real estate markets all across the country that there inventories are way down.  They are competing with multiple offers on properties no matter which side of the transaction they are representing.

Buyers still haven’t gotten the message.  They think it is a buyers market.  But after loosing offers on up to 10 homes in some cases the reality of the market is beginning to sink in.  The national media is always about 6 month behind reality and today is no different.

The market bottomed in the fourth quarter of 2011.  The media still haven’t gotten that message.  Low inventories, multiple offers, high sale prices, these are all indicators of the market turning.

If you were waiting for the bottom, well, you missed it.  That ship, so to speak, has sailed.

If you want to see a P-51 Mustang a B-17 or B-24 bomber up close (And inside) then bring your $12 to the Marana Regional Airport at 11700 W. Avra Valley Rd.  WWII vets can enter for free.

A couple of years ago I headed down late one afternoon with my camera in hand to snap images of these vintage aircraft.  If you have a lot of extra bucks you can even ride in them.  The most expensive ride is the P-51 which will set you back $2,200 for half and hour and $3,200 for a full hour in the air.

The bomber flights are $425 per person, no flight time is listed.

I know it’s not the Tucson Air Show, but if you want a lot smaller crowd and intimate setting to see these remarkable planes then this is the tour for you.

The one thing I remember from my visit that impressed me the most; how clean these aircraft were from top to bottom.  They were shining even in the wheel wells.

I’m really hoping to make it down again this weekend.  I’d love to see these beauties again up close.

Brookline College
11am – 2pm
5441 E. 22nd Street (just west of Craycroft)

Come on by.

You can get the whole skinny and list of vendors from Tucson Food Trucks

There has been a growing Food Truck influence in Tucson this year. The food truck roundups are happening all over Tucson.

The video below is from an early round-up which provides a good overview of the Tucson Food Truck movement going on in 2012.

When is right now? April, 2012. Yes, Tucson is a hot real estate market in 2012.

We had a home listed on a Friday two weeks ago and go under contract on Monday.

The market is moving fast in 2012. #justsayin

1. Tucson, AZ – Morgan Brennan – Forbes »

 

Median List Price: $170,000
(up 3% y-o-y)
Inventory Level: 6,600 homes for sale
(down 23% y-o-y)
Median Days On Market: 86
(down 12% y-o-y)
Price Drop From Peak:45.1%
Unemployment Rate: 7.8%

Thunder and Lightning Over Arizona
Celebrating 100 Years of Statehood

This year’s Tucson Air Show is April 14-15.

It is my goal to make this the single place to gather all the information about this year’s air show.  I’ve found the information spread over at least 6 sources while tracking down what I could about this year’s show.

Parking and Shuttles

There will be NO Sun Tran Shuttle service this year.  Therefore you want to come early and wear walking shoes.  The gates will open at 8:30 am each day.  Enter through the Craycroft gate or Swan gate. Last entry is at 2 p.m. Handicap parking only available at Craycroft gate.  The base can accommodate 33,000 cars but about 100,000 attended the 2010 air show, so . . .

There is no set schedule of events published.  Here is a list of performers scheduled:

• U.S. Air Force Thunderbirds
• USAFA Wings of Blue
• A-10 with P-51 Heritage Flight
• Radio Controlled Aircraft Demonstration
• Desert Rats Warbird CJ-6
• T-33 “Ace Maker”
• Acro Embry-Riddle
• USMC Osprey Demo
• F-16 Alert Launch
• Combat Search and Rescue Demostration
• Customs and Border Patrol Demonstration
• Pararescuemen Demonstration
• Rocketbilly Racing

Tucson Air Show Tickets:

Tickets are FREE. But canned food donations for the Community Food Bank will be accepted

What You Can & Cannot Bring on Base

Approved items:

• Carts for physically challenged/handicapped visitors
• Service animals for physically challenged visitors
• One clear plastic (no glass) water bottle with water per guest (Water Buffalos will be provided to fill water bottles)
• Strollers
• Diaper bags
• Baby food, baby water, formula, baby milk (no glass containers

Prohibited Items:

• Political activity/demonstrations to include associated paraphernalia
• Coolers
• Outside food, beverages, or alcohol (exception see allowed items)
• Large backpacks, purses, or camera bags (larger than18X24in)
• Camelbacks
• Paint
• Balloons, kites, sports equipment (footballs, kites, etc)
• Illegal drugs
• Weapons (to include but not limited to: brass knuckles, all size knives, Leatherman type tools, mace, pepper spray, box cutters, nunchucks and all firearms)
• Military uniforms worn by non-military members
• Bicycles, scooters, skates, skateboards, go-carts
• Pets (exception for service animals, pets will not be left unattended in the parking area or inside a parked vehicle)
• Umbrellas, folding canopies
• Chairs and folding chairs

VIP Flight Line Club

In the Flight Line Club Chalet you will be privileged to:

• Preferred parking passes
• Shaded front line seating in spacious and exclusive viewing area
• Catered continental breakfast
• Catered lunch
• Afternoon snacks
• Unlimited water and soft drinks
• Private cash bar
• Private restrooms

VIP Flight line Club Tickets

VIP Adult Admission Saturday $95 + fee
VIP Child Admission Saturday $45 + fee
Sunday the same price.
Tickets must be purchased by April 11, 2012.

From what I’m gathering, The only way to get into the Beer & Wine Garden is to have purchased a VIP flight line ticket.

Beer & Wine Garden Tickets

New link to information but still no clarification on purchasing tickets.
Tickets are $20 per person.

• You will enjoy the air show in a shaded area
• Tables and chairs
• Wristband allowing you to exit & re-enter
• Receive refill prices on beer only
• Exclusive restrooms for Beer Garden customers
• 22 oz. Souvenir Cup

There is no link provided we can find for purchasing Beer Garden Tickets.

If there is something you don’t find here leave a comment and I’ll do my best to get the information posted.

REO’s Short Sales are Down in Tucson

Jumping right in, the percentage of sales that are either REO or Short Sales has been dropping gradually this year.  This is one of the indicators I like to keep track of and why I put it in the sidebar Market updates.  January, 55% of all transaction were REO or Short sales.  February this dropped to 49% for the first time in a long time it was under 50%.  Right now for March we have 42% in that category.  We are all hoping this trend continues.

March 2012 Over 1000 closed transactions

We have three days to go for turning in closed transactions before the data for the statistics report is pulled and we are over 1050 closed transactions and I only track 9 of the 13 areas included in the statistics report.  We could see a final number between 1200 and 1400 for the entire Tucson reporting area.

Pending sales continue to be strong and there are a lot of buyers in the market as we close out the first quarter of 2012.

To be watched:

I’ll be checking to see if Cash transactions continue to be the number one way purchases are financed.

The number of active homes on the market at the end of March is also on the watch list.  We have been seeing the inventory shrink for most of 2012.  It would actually be good to see an increase in active listings.

Average and Median Sale prices are up which is expected with the number of REO and Short Sales decreasing in the percentage of closed transactions is helping to raise these numbers.

Now we wait and see where the final numbers for March come in.  But we already know it is a winner for both buyers and sellers in Tucson.

A lot of us in Tucson in spring are not originally from here.  We are from . . .  you name it.  Where ever we are from it usually is someplace with real soil and for many our roots come from a place where you throw seeds in the ground and stuff grows.  You plant flowers around the house and yard, then you water them if you think about it or you see them drooping a bit to remind you they might need a drink.

When I first moved to Tucson back no 1999 I came by way of Iowa, before that Wisconsin and I grew up in Ohio.  My childhood home was on 8 acres.  Dad usually had an acre of that in garden.  We raised a lot of what we needed by way of veggies in that garden each year.

I love growing things, especially things you can eat.  (Flowers are nice, but I don’t like salad dressing on them and most of them are bitter)  However, gardening in Tucson is challenging at best for we who are not accustom to the desert.

First lesson about growing stuff here. Don’t over water.  It is easy to think water solves all problems in growing stuff here.  It doesn’t, you can over water and get root rot even here in the desert.

Second.  Don’t under water.  M first year here I had some nice tomato starts in my little garden plot.  I forgot to water them one day.  By the time I got home in the evening they weren’t just wilted, they were burnt black.  The direct sun here will char-broil any garden plant in a matter of hours.

When you see those plants at Lowe’s or Home Depot and they have the little tags that say 6+ hours of full sun.  Those tags were printed for some where else.   I’ve learned to “test plant”.  Find where you want your plant, dig a whole big enough for the pot and everything.  Water like you were going to plant and watch it for a few hours.  Those Apricot Twist Wallflowers, I did that for them;  in 2 1/2 hours they were drooping over in the full sun.  I pulled the pots and moved them to the shade of the patio, they are back to their usual self.  They couldn’t take 2 hours of direct Tucson Sun.

Others, they are loving it.  The “Broil” of summer isn’t even here yet.  If they can’t take this heat and sun they certainly won’t take our full sun.

I’ve found some thing that thrive even in the hottest summer heat.  That’s what I’m going to be planting as soon as the snow melts.  LOL, yes, there was snow on the patio this morning.  But it only lasted about a minute.

I’ll share what’s going in the ground later this week.

February available inventory was 4,560 properties.  This is 34% less than a year ago.

Absorption Rates for Tucson – February 2012

Six months of inventory is considered “normal”; in three areas of Tucson we have under 3 months of inventory in the residential real estate market.

Closed transactions are up. Mortgage rates remain at historic lows and prices are the best they have been in 5 years.  Across Arizona and in other parts of the country we are hearing the same thing, available inventories are drying up.

While this is not a public event there are plenty of good spots around town to view and photograph the plans that are participating in the conference.

The full details on the conference can be found at D-M hosts Heritage Flight Training and Certification Course

A forum with some great photos already taken from this year can be found at Heritage Flight Conference March 2-4 2012

Tucson Air Show 2012 Will be April 14 – 15

The total residential sales of 915 for January is the highest number of sales for any month in 2012.

Yeah, are you still pondering that one?

Here is the area by area breakdown:

Absorption Rates for Tucson – January 2012

February Sales Strong

February looks to be a strong month and activity in Tucson seems to have definately picked up. While I’ll chaulk this up to anacdotal evidence every agent I talk to is saying the same thing. There is movement in the market and people are buying again.