TucsonKent's World: Tucson Real Estate Blog

Walk It While You Talk It - Getting Out Of The Car To Show

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Tue, 08 Sep 2015 10:23:35 -0700

When is the last time you showed property without spending all of your time between properties in the car?Even when showing properties in the same neighborhood, the habit of jumping in the car to go down the street to the next showing is a hard habit to break sometimes (especially in the heat of a Tucson summer). I'm fortunate that my office location is located right in the heart of a resurgent Downtown, with interest in the different neighborhoods & styles of homes growing rapidly...but often I'm guilty of jumping into the car to go 5 or 6 blocks to show a property. Habit. Tough to break sometimes. Here's a route we took on Monday when I met a client at my office (the beginning & ending of the trip):One of the things that always lingers in my mind after taking the time to walk with a client as we look at properties is how much we both enjoy the process. There is time to point out different things about the neighborhood, answer questions about the lifestyle - where to shop, get groceries, look at the school yard while going by, see what neighbors are doing, points of interest - and getting to know the client better while watching their body language, where their eyes go, etc, etc. The prospective buyer gets a chance to "feel" the neighborhood & experience a little slice of what it is like when they live there - and you get the opportunity to show your expertise more intimately. The time we spend is valuable & high quality. Instead of wasting time & effort moving from parking place to parking place, the showing time is more organic & flows well. Having the chance to tell them about neighborhood events, pointing out where they are & how residents take part (or not) gives them the chance to visualize themselves as part of the community. As agents, we talk all the time about making it easier for buyers to visualize themselves in the house...adding the experience of the neighborhood itself adds to the value of time spent. On my team, we call it the "Neighborhood Immersion Experience" - and it has helped many clients make up their mind whether Downtown Tucson is where they want to live or just visit & choose to live in another part of town. All in all, the time invested isn't much more than driving, if at all. The results of the quality time spent make us better agents for our clients - and reinforces the value proposition we offer.***Mea Culpa - when the temps are in triple digits, a trip like this one is an absolute loser for all involved!Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

FHA Loan Policy Alert: Got Student Loans & On The Fence About Buying?

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 14 Aug 2015 15:14:14 -0700

If you have deferred student loans and are considering buying a home - you might want to make a decision sooner rather than later. In the latest edition of the FHA Handbook (released today), your student loans may have enough of an effect on your debt/income ratio that your ability to get a loan may be in question if you're right on the edge. September 14, 2015 is the day that new policies go into effect.Previously, FHA did not count the payment on a deferred student loan if the payment was deferred for more than one year, but today's release brings in a change, effective on all case numbers assigned 9/14/15 and beyond. FHA will now count payments on all student loans whether or not they are deferred. Student loan payments will be included in the debt to income ration & could make a difference in loan qualification.If you're on the fence about whether to buy or not, it would be a good idea to get in touch with your REALTOR® to talk about your needs & current market conditions - and get thee to a lender right away to see if this FHA policy change will affect your eligibility for a home loan. Get that FHA Case number assigned to you before September 14th! If you don't know where to start, your agent can help you find a good mortgage professional.It isn't time to panic, rather a good opportunity (now that the summer buying frenzy has waned) to buy a home without as much competition for properties as there was in June & July. If you've been thinking about buying, but have been "on the fence" for a while - it would be smart to check out your eligibility in the next couple of weeks.There's nothing worse than planning to buy a home in the next few months...only to find that you used to be eligible, but aren't anymore because FHA policies on student loan debt changed - and you waited a few days or weeks too long.If you're in the Tucson Metro - give me a call & lets talk about your needs & goals - and lets see how we can achieve them together. 520-302-5368Here's link to the new lender handbook that was released today - if you're having trouble going to sleep, it may be helpful: Aug 14 FHA Policy Handbook Update Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Civility, GroupThink, The Interwebs & The Practice of Real Estate

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Mon, 10 Aug 2015 08:23:37 -0700

Oh the value of the interwebs - what an amazing tool to share knowledge, establish expertise & promote one's expertise! At our fingertips are an endless variety of blogs, sites & social media tools that are ingredients of the digital stew that feed and nourish our businesses...and can sour or taint one's reputation & public perception of the industry, collectively & individually, within seconds.In any number of "private" groups, "members-only" forums, tweets, retweets, discussions and straight out in front of the public, there are opportunities galore to show our expertise, experience and mastery that we work so hard to achieve...while at the same time proclaim to the world that some of us are no better than the braying asses many in the public perceive practitioners in this business to be.Time after time I have witnessed simple, earnest discussions devolve into name-calling, character assassinations, and worse. Accusations of ethical misconduct, pious declarations of "I never/I always (insert whatever here)" and endless instances of "piling on" fly around the electronic universe as individuals become a mob espousing "integrity," "ethics," "raising the bar," the merits of one business model vs another, how-to/where-to/whether-to/should-do/shouldn't-do and much more.In many ways, we mirror what we see in our own society: polarized & unable to have a civil discussion without posturing, labeling & waving half-truths about like a victory flag for all to see. Generally, this kind of behavior is perpetrated by the few, tolerated by the many. I've left several groups because of the seeming inability to have a rational discussion on a number of topics without the thread being hijacked by a couple of shrill, vehement voices intent on asserting their point of view or spewing hatred or blind devotion to one way of thinking or another. I've been guilty of this myself occasionally - and finding that I wished I could erase that smarmy comment or snarky response afterward.Is it any wonder why our profession is consistently lagging behind others in poll after poll of consumer trust? With the explosion of social media interfaces & freedom of the interwebs, the attention goes to the braying ass all too often. We have to Rise Above The Fray in our quest to "Raise The Bar." To get respect, one has to give it - and treat each other with such. Civility, Decorum & Willingness To Explore need to replace Intolerance, GroupThink & Irascible Behavior. C'mon folks - Rise Above The Fray. No matter how "locked-down," "secret," or "private" a group/forum or site may be, the internet never forgets. Lets agree to be the standard and the example, not the herd.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

RAPAC Victory Without A Fight Saves Tucson Taxpayers Half Billion $

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Mon, 03 Aug 2015 07:51:05 -0700

How would you like to look your client in the eye & tell them straight out that you saved them & their neighbors $500 Million? Thanks to RAPAC in Tucson, you can!***(Note to reader - RAPAC is the REALTOR Arizona Political Action Committee - RPAC is the national arm of the SuperPAC)The City of Tucson has used up all of its capacity to raise money by issuing Bonds – it has reached its legal limit. Since Tucson cannot balance its budget, City Council had the idea that they would include raising the cap on the debt they could issue in a package of sorely needed changes to the City Charter this November – which would allow them to issue up to a HALF BILLION DOLLARS in bonds (which are repaid only by those who own property in Tucson…not everyone). Tucson Association of REALTORS got wind of the proposal, formed a coalition with other community groups, contacted NAR about the potential problem & arranged for RPAC funds to be available in case we needed to fight the proposal – and presented the Mayor with the fact that they were ready, willing & able to fight – with national backing – if they chose to put this measure on the ballot.Mayor & Council saw the odds stacked against them & killed the proposed lifting of the cap. THIS is how RAPAC – YOU – saved your clients and neighbors $500 Million without a fight. Just the threat of serious, organized opposition caused city leadership to back down. A Victory is a Victory - it doesn't always require a battle. Sometimes the BEST victories are won by stopping the fight before it starts. Thanks RAPAC, Tucson property owners & REALTORS® owe you one!Disclosure - Kent Simpson serves on the RPAC Participation Council, Arizona RAPAC Trustees & is an RPAC Major Donor.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Streetcars & Real Estate Values - Analyzing The Effect

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Wed, 22 Jul 2015 05:47:13 -0700

The Tucson Modern Streetcar celebrates its 1st Anniversary of operation this weekend, with ridership that has exceeded goals - averaging over 4,000 riders per month (11% over the expectation of 3,600 monthly riders). The Sunlink Streetcar posted 1,000,000 passenger rides about 6 weeks ahead of schedule this May. Many new businesses and tens of millions of dollars in private investment have started transforming the corridor along the route to great fanfare, but lost in the hype & hoopla was the answer to the question: "What effect has the streetcar had on residential real estate values?" Nobody had performed a study on that subject!Earlier this year, the Arizona Senate Transportation Committee was taking a look at public transit infrastructure & wondering whether there had been side benefits to fixed-route (streetcar, light rail, etc) projects. Senator Bob Worsley (R-Mesa), the Chair of the Senate Transportation Committee asked me to put together an analysis for the committee - to show positive or negative the effect, if any, the Tucson Streetcar had on residential real estate values. The results were much more than what I expected, given the timing of the Great Recession between voter approval & construction of the line. The areas serviced by the route are Downtown Tucson, 4th Avenue & the University of Arizona - with the Mercado District of Menlo Park at the west end of the streetcar line. The Streetcar Effect - Analyzing Real Estate Values In Tucson from Kent Simpson What I did is compare the average price of all residential properties within 1/2 mile of the Tucson Streetcar route to that of the base Tucson Metro. In order to get a solid baseline to begin with, I went back to the year 2000 - well before the creation of the Regional Transit Authority (approved by voters in 2006) which included plans for a streetcar as one of the projects.Basically, property values were virtually the same in the Tucson Metro and the Streetcar Corridor in 2000. Prior to the RTA being approved by voters in 2006, we started seeing some separation between the values in the 2 areas - partially due to a high-end "green" housing development selling historic-style homes with solar electric panels beginning in 2004.The startling difference was seeing the value performance of the Streetcar Corridor vs the Tucson Metro during the crash: residential property within the corridor only lost 12.7% of value vs 23.1% for the metro! As the market started digging out of the rubble in 2010 to the end of 2014, values in the corridor rose at a rate 100% faster than the rest of the Tucson Metro.Another point of interest to me was the spike in numbers of transactions each time a milestone was reached to bring the Modern Streetcar project to fruition in Tucson. I am interested to see if there will be another surge in purchases around the July 25 anniversary date.Whether people see investment in light rail or streetcars as a worthy use of public dollars - if your community has a new project in the works for the near future, predicting greater performance near the rail lines might well be a reasonable expectation vs the rest of the market...at least in the beginning. You know I'll be following the data for long-term performance measures.Residential Properties For Sale In Tucson Streetcar Corridor & Downtown TucsonResidential Income Properties For Sale in Tucson Streetcar CorridorReal Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Umm...Could You PLEASE Close Your Listing? (The Data Is Important!)

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 17 Jul 2015 09:07:16 -0700

Get a bunch of real estate agents together (in any setting...online, over drinks, in the boardroom, by the water cooler, in a parking lot...whatever), mention the phrase "data integrity" and without fail, heads will start nodding, hands will go over hearts & a faraway stare (supposed to mimic that of faithful reverence) will signify tacit agreement of the grave importance of the subject.Arguments over various platforms & their "lack of good data" start up every single day on Facebook & in bullpens, with agents & brokers swearing that "controlling the data" is something sacrosanct & Holy to all things real estate.Guess what? NO data is completely accurate - even when we all raise our right hands & take an oath to preserve the integrity of the MLS for the good of the order, humanity & little children who might someday want to practice real estate. Why? Because the data is only as good as what input is received.Recently, I had a property on the market that was challenging to comp - not because it was so unique, but because of the simple fact that not many 4-plexes have sold in the past year. Duplexes, triplexes, 5-plexes sure - but for some quirk of the market, very few 4's had sold in the area. No big deal, right? Wrong. The appraiser for the buyer was sure of the value, but didn't have enough solid data to use as proof of the value, and let me know that there were several that were Pending, but he couldn't use them until they closed. I started calling agents of the pending properties to see if the scheduled closing dates might be soon - that way the appraiser could just wait a couple days & have the data they needed. Success! One property closed that very afternoon! A 2nd potential comp - took me 6 hours to get a reply from the listing agent - had closed nearly 3 months ago, but had never closed it out in MLS! Needing the comp, I got the records from the county showing the sale & amount paid for, sent it to the appraiser & that was the last piece of proof he needed to support the value! By the way - this is the 3rd time this year I've run across properties closed long ago that remain "Under Contract" in the MLS.So, folks - the moral of the story is: Umm...Could You Please Close Your Listing? (The Data Is Important!) We can talk all day about what source of data is better than another & whether Platform A is better than Platform B...but when it all comes down to it, WE ARE RESPONSIBLE. It isn't that hard - it is part of the job.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

"I Don't Have Time For Research"...Really? Are You Sure About That?

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Wed, 20 Aug 2014 10:40:13 -0700

Yesterday, I co-hosted a class on Downtown Growth Trends (poolside at a condo complex I have the exclusive on). Tucson's Downtown is undergoing a huge surge of interest due to the new streetcar connecting it with the University of Arizona - between public & private investment, upwards of $900 Million has been spent in the past 3 years, rivitalizing & invigorating the area. For part of the class, I presented research compiled over the past 3 years, comparing the trends in residential real estate with other areas & the Tucson Metro itself to illustrate the growth, not only in interest, but in property values. A couple of agents came up to me afterwards to thank me for sharing the info - and saying something that made me think of Scooby Doo & his "HUH?" sound: "I don't have time for research." Later that evening, I posted a graph up on Facebook for one of the segements I analyzed - and another agent in my market said the same thing, "I don't have time for research." Scooby Doo rides again! How can a professional in any field dealing with market factors of a commodity not have "time" for researching the market? I guess doing a CMA or attempting to understand what is happening in the marketplace isn't seen by some agents as valuable knowledge. Perhaps their focus is on being able to open doors at a moment's notice or knowing what celebrity sighting in town is trending at any particular notice. I feel bad for their clients - but have to admit the show must be pretty good, yet lacking in substance...kind of like seeing a movie with great special effects but no plot (I always find myself wondering why I paid full price for the ticket). Different strokes and all that stuff. I HAVE TIME for research - in fact, I'm known for it. My clients appreciate the time it saves them wondering if a property is over or underpriced, an emerging area, rebounding neighborhood or one that has been flat. Local officials & business leaders ask me about trendlines in different areas once in a while, as well as media sources. Maybe I'm not as "up" on what restaurant or video is this week's latest buzz...but a major part of my business is repeat clients and people referred by them or leaders in the community. Taking time to understand the market is not a "business strategy" or "marketing angle" - it is my job, and a basis of credibility for my brand. Below is a quick overview of the past year's performance of single family homes in the Downtown Tucson area compared with the base Tucson Metro - the trendline is obvious...think that might be valuable to a savvy buyer? Over a 3-year period, one can see what an effect the revitalization that Downtown Tucson is undergoing has had on the single family home market in the area (not all value growth is because of that single factor, but it is a very significant part). If you'd like more detailed & specific information on a particular type of property or neighborhood - call or email me...I make time to do research! Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Lions & Tigers & AVMs - Oh My!

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 16 May 2014 22:05:58 -0700

At NAR's Mid-Year Conference in Washington D.C. (now rebranded as the REALTOR Party Convention & Trade Expo), there are always issues before the Board of Directors that drop out of the sky like a sudden downpour to drown out the conversations started earlier in the week. This year is no different. The meeting may have a new name, but the game remains the same. The issue dropping out of the sky for 2014 is AVMs - and whether NAR should require member MLS systems to provide the data feed to brokers that is used to produce them. Earlier in the week, hallway & lobby conversations revolved around the Core Standards issue being voted upon this morning, only to be wiped away like smog by a rainstorm by the motion carried out of the MLS Committee meeting on Thursday. By early evening, AVMs dominated conversations in lounges & dinner tables near DuPont Circle. As Friday dawned, battle lines had been drawn and opponents started sharpening the points of their defense in the argument to bring into the afternoon caucuses. The interesting thing about listening to both sides is that passionate non-understanding & smug arrogance took precedence over meaningful discussion of the issue. Opponents weren't seeking to understand how AVMs worked (or in the case of some 'non-disclosure' states, the difference between Custom & Law). Supporters who blindly joined the side of pro-AVM were overheard talking about how "only the ignorant could be opposed" to letting brokers have the feed...as if they knew the issue in-depth. The most passionate arguments I heard were full of fear & little fact to support them...with the exception of one I heard in the mens room (usually the place of benign sports discussion while, well, you know - doing bathroom things): "The issue is the feed that already goes to companies like CoreLogic, RPR, Courthouse Retrieval Systems, etc. What the brokers want is the right to have the same feed for themselves - after all, it IS their data," said one man. "If the brokers in the Realty Alliance who are pushing this through NAR want this so bad, why couldn't they get their own individual MLS's to allow it? Must have met a stone wall, so this is an 'end run' to get it required from the top down." I know a little about how such things work, but certainly am no expert - I know just enough to be dangerous. This morning I will listen to both sides & sort out the facts before me prior to casting my vote as a member of the NAR Board. Could this be the type of issue that causes another "Special Meeting" to be called? Who knows. I tend to fall on the Data Freedom side of things - if a data feed is already going out to 3rd parties, why not let brokers have the same feed? It will be an interesting session - and I hope there are compelling, cogent arguments on both sides instead of what may well turn out to be Fear vs Arrogance with a whole lot of uninformed passion from both viewpoints. We'll see by 1pm!Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Are HUD "Fairness" Policies Driving Prices Down In Some Markets?

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 24 Feb 2012 02:10:59 -0800

HUD could be causing prices to tumble further as an unintended consequence of its attempts to be fair in assigning properties to listing agents in some communities. While a particular community may be geographically close to another city, that city may belong to an MLS system that doesn't really serve the market area that the community belongs to. Case in point: Red Rock, Arizona. Red Rock is a master-planned community north of Tucson by about 30 minutes. It really is a bedroom community for the Tucson region. Residents shop in Marana & Oro Valley in the NW sector of the Tucson Metro. Nevertheless, there is about a 50/50 split with agents in Casa Grande (which belongs to ARMLS - really serving the greater Phoenix region for the most part), and agents belonging to the Tucson MLS (TARMLS). From a geographic standpoint, it looks like a fair division of property allocations. Casa Grande is about the same distance/drive time from Red Rock as Tucson is. HOWEVER, by doing so, putting these properties into an MLS that really serves a different region causes these properties to languish on the market much longer. People looking for properties in Red Rock generally see them through Tucson agents...so the homes listed in ARMLS usually go ignored or unnoticed. We all know that longer time on market results in price reductions. Appraisals use hard data to help determine value - a government agency directing properties to the wrong market isn't a mitigating factor...it just produces lower appraisals. People don't see it (agents too), so they don't even know that a property is for sale! Nothing wrong with the house, nor with the agent listing it - the languishment is simply because it isn't being seen! I've noticed in the last several months that HUD listings of the same relative size are selling within 30-70 days (depending on condition) for a price in the $60-$75k range when listed by agents working in the Tucson MLS. Properties listed by agents in Casa Grande have typically lasted 110 days or more before going under contract...and the prices are in the mid-$40's to mid-$50s & $60's. All because they are handled in an MLS where Red Rock is on the extreme southern end...and not a viable commute for people working in the Phoenix region. This is NOT because the Casa Grande agents are doing anything wrong - in fact, the ones that I have done business with are working harder to sell Red Rock homes at a lower price, and are relieved when someone finally shows one! Luckily, TARMLS & ARMLS have a "data share" agreement that allows agents to see info on properties belonging to the other MLS (without agreement of compensation). When looking on behalf of my clients, I use both systems in order to ensure that they can have all of the choices in Tucson real estate available to them. When I can find price anomalies similar to the ones in Red Rock, my buyers are happy to save the money. I know that HUD is trying to be as fair as possible - and applaud that desire. Unfortunately, an unintended consequence is that they are driving down prices because the asset managers don't understand what region actually serves the market their properties may be in. There's enough factors contributing to price declines in outlying regions...it is Unfair to have a simple policy accidentally cause more damage to the market.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

The Real Estate Hall of Shame - How Not To Use Equity In Your Home

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Wed, 20 Jul 2011 20:15:45 -0700

The Real Estate Hall of Shame - not sure if anyone has built one yet, but I found a property today that could qualify as a good place to house the "How Not To Use Equity In Your Home" exhibit. I think it used to be Homer Simpson's place. He lost it to foreclosure. Lets take a peek behind the scenes and see how this property might qualify for Poster Child status on the Real Estate Hall of Shame: Lets see...Homer bought it in 2001 for a little under $300,000. Bear Stearns got it for $465k last fall. Don't see any problems so far - probably a typical foreclosure on a note gone bad, purchased by the investment bank for pennies on the dollar. This doesn't look so bad - what qualifies it for the Hall of Shame? Lets take a look at the loan history: Okay...lets see: the buyer put down a little less than $15k - which works out to roughly 5% down back in 2001. No problem yet...less than 2 years later, the owners refinanced for about $20,000 more. Could have needed to pay somebody's tuition or something. But wait - look at what happened in 2006! (Gee, isn't that when the market was going gangbusters & everyone was going to get rich quick?) After only 3 years, the owners refinanced AGAIN, but for 231% what it previously was worth! Kind of strange how we dismiss claims of investments that promise amazing returns or "long-lost gold mines" as foolish or the stuff of legend, not reality...but not when it comes to our HOMES. "Lets get all of the equity out of our home, we're GETTING RICH QUICK," Homer Simpson says to Marge, "they might change their minds!" But WAIT...another year passes and lo & behold...the value has gone up ANOTHER 25%! "We sure could use another $160,000 - now I can get that boat I always wanted & Marge can have that fur coat to wear when the temperature drops below 80 degrees...and I can show up to my high-school reunion in a shiny new Benz with spinners on the wheels!" -OR- "This real estate thing is a SURE-THING! It will NEVER GO DOWN...lets buy 3 or 4 other homes to MAKE MORE MONEY ON...we'll be ON EASY STREET!" Homer refinances again in 2007, again pulling out all of the paper "equity" in the home - probably with an interest-only loan that adjusts after 3 years (which was the only way they could afford the payments on their $800,000 home that only cost $280,000 such a short time ago. For some crazy reason, the lenders want Homer to pay the money back, and the home isn't magically going up in value anymore. The payments now start to include principal AND interest. Can't refinance again because the property isn't worth what it used to be. Time to sell the home! But the market is going d-o-w-n. It doesn't sell at the price Homer & Marge need to get out of their debt. It forecloses. Homer isn't rich anymore and Marge has to sell her huge hair to rent an apartment. Easy Street has potholes that could swallow an ark because the City was counting on the revenue from all of these wonderful property taxes to fill the coffers that it depleted on consultants and studies to tell them how to spend all of that money that should be coming in. It wasn't just Homer - Moe did the same thing with his bar. Marge's sister Patty bought 3 duplexes and a new 3500 square foot home because she was jealous. Otto the school bus driver got a loan to buy 20 acres with a bitchin' manufactured on it so he could turn his stereo up as loud as he wanted. Ned Flanders put Todd & Rod's names on loan applications and is now being investigated for mortgage fraud. This didn't just happen in Springfield, or Tucson. It happened everywhere that values on paper rose extremely quickly. Apu still has the home he bought in 2002, and is easily making the payments. He just bought 3 more Quickee Marts at bargain prices, and is thinking of getting a bigger home since prices and interest rates are super-low. Principal Skinner & Groundskeeper Willie have been buying foreclosures, fixing them up and making a modest profit renting them out (which proves even a numbskull like Skinner can make smart decision if he doesn't get greedy). Springfield is slowly coming back to normal (as is Tucson). Some people are at different addresses than before, some the same, but a sobering reality has set in & a lesson learned: "If it seems too good to be true, it probably is." Did Homer learn anything? Probably not. He's trying to get all of his friends and family to come to a party to celebrate becoming an owner of a business that will soon make him money while he sleeps. He's changing his name to Homer MLM Simpson to show his dedication & commitment in front of his "Double-Platinum Diamond Distributor/Coach. The property? Oh yeah...its still in good shape, in fact, it really is a good deal. Now. It can be yours for a little over $400,000. Needs a little work, but not too much. If you were smart with your money and still have some, give me a call. I don't have any get-rich quick steals to show you, but I do know how to spot a solid investment in real estate.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

"Can I Put In A Really Low Offer On This House?"

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Tue, 19 Jul 2011 16:07:59 -0700

Buyers often ask me "Can I put in a really low offer on this house?" The short, simple answer to that is that anyone can offer whatever they wish on a property. What really matters is if the offer will be looked at...and even considered. A few times I've had clients who really, really liked a particular home, but ended up heartbroken because, in their attempt to "get a steal" because "it's a buyer's market," they either poisoned the seller against them or wasted time in a competitive foreclosure market by offering w-a-a-y below asking price. Lets take a look at a typical scenario: Buyer A is approved for a loan that will allow them to buy a home priced up to $200,000. The question comes up about the possibility of offering say $200,000 on a property priced at $225,000 (which is a 12.5% discount). There's absolutely nothing wrong with offering that, if comparable properties in the area are going for the lower price. In reality, chances are, that offer won't even get a response. Generally speaking in the Tucson market, prices being asked nowadays are fairly close to what the market is bringing. If the seller is asking more than what the market is showing, you can just about guarantee that asking for a discount like this is going to be met with rejection instead of a counter-offer back. If it is a bank-owned house, you don't have to deal with the "human factor" i.e. "ego" like you would with one that is owned by a human being - there's nobody that would take personal offense or get cranky about a "lowball" offer - but they have their bottom line too, and a rejection is a rejection. In the Tucson real estate market of today, many bank-owned homes (aka REO, foreclosure) are underpriced and seeing multiple offers in the first week or two. Taking the time to submit a lowball offer and wait for a response can often be an exercise in futility - with a more realistic offer (many times OVER the asking price, but within comparables for the area) snapping it up before another offer can be made. Most often, a home priced above market IS owned by a real-live person who is still attached to their property emotionally, and either can't or won't face the reality of the marketplace. Many times, the home will have been sitting on the market quite a while (DOM or, Days On Market), and will probably remain there for quite a while until the seller either takes it off of the market or comes to grips with it & eventually lowers the price. If you see a home that is priced at $225,000 and want to offer $200,000 on it - I have no problem putting together the offer...just realize that the likelihood of positive results are close to nil in today's market. We could get lucky, just don't count on it! Something else to factor into an offer is whether you want the seller to help pay your "closing costs" which generally run about 3% of the purchase price ($6000 on a $200,000 home). Typically, sellers in today's market are willing to help out that way, but not with a large discount on the asking price included...it is like asking them for 2 discounts at the same time - similar to showing up at a resort offering "Locals Only Summer Rates" and wanting a AAA discount on top of it. You might get one, but not both. I also work with investors who are market-savvy, looking at capitalization rates, market saturation ratios, historic vacancy rates & projected growth patterns...the principles work the same way: If the property works for you, and you want it, messing around may cost you a good property. Smart investors know where the market is & are willing to pay the price because it is right. Amateurs, blowhards & wannabes "paper the town" with offers looking for "the steal of the decade" while others make money.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Welcome "The Gadsden Girl" To Our Team!

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Thu, 16 Jun 2011 16:58:58 -0700

{EAV_BLOG_VER:3358b4ca48c3a631} The TucsonKent Group proudly welcomes Emmary Nicholson, aka "The Gadsden Girl" to our team! She brings us a broad scope of skills (her Facebook & Twitter networks are of an amazing caliber), a great "can-do" attitude and fresh perspective as a new Tucson resident. Em is licensed in both Arizona & New Mexico, and is a wealth of knowledge about military relocation. A native of the Desert Southwest, Emmary was born & raised in El Paso, Texas, living in Las Cruces, New Mexico, White Sands, New Mexico, the Washington D.C. area and back to Las Cruces before finally moving to Tucson this year. Having been an Army wife for 13 years, Nicholson is well-versed in the challenges & pathways facing military families relocating to new surroundings. With 20 years of broadcasting experience - as on-air talent, program director & instructor (Connecticut School of Broadcasting), combined with success in marketing for several restaurants on Facebook & Twitter, the TucsonKent Group looks forward to her blend of time-honored and innovative approach to marketing for her clients in social media & other avenues. One of her passions in community involvement, and she wasted no time after her move - becoming involved with the Tucson Literacy Coalition within her first week! Emmary's background, love of Southwest History and its people make her the true "Gadsden Girl" (Southern Arizona & New Mexico - Tucson & Las Cruces were purchased from Mexico in the Gadsden Purchase of 1853). Please join us in our excitement and welcome Emmary to our team!Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Announcing: TucsonKent Group Opening Tierra Antigua Realty Downtown!

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 22 Oct 2010 15:49:21 -0700

Yep - the announcement is true: I'm opening an office right in the heart of Downtown Tucson. Tierra Downtown is a going to be a branch office of Tierra Antigua Realty...and the TucsonKent Group is one of the founding partners! We're located in the historic Pioneer Hotel Building (could be haunted!), on the top floor with views that can't be beat. The best part of being located downtown is that we're right in the thick of the community that is revitalizing Downtown Tucson - Congress Street, Pennington Street, Broadway, Stone Avenue...the Modern Streetcar and much more. We're having a Grand Opening Celebration on November 12 from 3PM to 6PM, with wine, women & song (at least the wine part is a go), munchies & a lot of fun. If you're in Tucson that Friday afternoon - come on up & help us celebrate the beginning of what portends to be a very exciting beginning in Tucson history as Downtown continues to grow & come alive again. Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Mural Artists In Downtown Tucson

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Fri, 22 Oct 2010 12:40:52 -0700

Downtown Tucson has quite a few murals adding a little spice to the walls and construction sites in the area. How often do you get to watch the artists at work? Often it seems that these works spring up "overnight" or perhaps we get so used to seeing the same old monolithic walls on buildings or drab plywood "safety barriers" around construction sites that we don't notice the art until it stares us in the face! Just the other day, I was fortunate enough to see local artists Rock Martinez & Ed Muren work on their temporary canvas in the heart of Downtown Tucson - at 50 E. Broadway Boulevard - as this building gets renovated. If you haven't been to Downtown Tucson in the past year...or even in the last 6 months...you'll be amazed at the entergy, vitality & transformation that is happening. The downtown area is coming alive with new investment and a sense of destiny in becoming a showcase of promise in The Old Pueblo. Yet one of many reasons my partners & I have decided to locate our office in downtown...right in the thick of things! Stay tuned for photos & updates on what is happening in the heart of Tucson. Search Downtown Tucson Residential Real Estate Downtown Tucson Commercial Properties Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Sombrero Peak - Continental Ranch Landmark in NW Tucson

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Thu, 02 Sep 2010 17:18:56 -0700

This photo is of Sombrero Peak, which is a landmark to help point out where Continental Ranch is in Tucson. It is on the northern end of the Tucson Mountains - and stands out visible for miles and miles. If anyone needs to know where the community of Continental Ranch is, you can simply point out Sombrero Peak & say, "Head that way, you can't miss it!" I was driving to an appointment late in the afternoon when I saw this combination of clouds & light with Sombrero Peak silhouetted beneath them. Seeing the rays of sunshine defined like this doesn't happen very often, so I knew I just had to try to capture this scene! Continental Ranch is a large, master-planned community west of I-10 in the northwest part of the Tucson Metro. Begun in the early 1990s, the community is still growing as it matures - new subdivisions are still being built, new commercial space is supplementing that which has been serving the area for the past 2 decades and more. Late this fall, the Twin Peaks Interchange will add direct freeway access to the northern end of the community, which will ease traffic on Silverbell and make things much easier for those living on the northern end!Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Everyone's An Idiot

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Wed, 01 Sep 2010 17:41:11 -0700

Is everyone an idiot? How about me? You? Are you just about ready to strangle the next moron who asks you the same stupid question as the last guy? How about just plain being fed up with those other agents who are so unprofessional that they shouldn't be allowed to breathe the same air as you, much less practice real estate?! Sounds like it is time for a break and an attitude check. This afternoon I spent a few minutes at a coffee house doing my own version of R & R - people watching. It is sure interesting sometimes - today I heard a group of 4 agents talking smack about various things. Didn't hear the conversation per se, but you can tell a lot from body language and picking up a few phrases. A few minutes after leaving, I got a couple of calls from colleagues who "just had to vent" - guess I'm the lucky guy! LOL (if it gets to be too much, there's always the old "guess my cell dropped the call" trick) :DIt has been a long, challenging summer - a hot one, too, guess a lot of fuses are primed to blow. Well, this weekend is "national recharge the batteries weekend" aka Labor Day. So often, independent contractors and business owners feel so much pressure to make the next sale or "be there every moment for their clients" that they do themselves and everyone around them a disservice. Take a break! Enjoy living for a little bit! Too often the extra work and the resulting stress backfires - irritation, frustration and burnout set in without realizing it. I'm going to do a little work this weekend but not a whole lot - taking advantage of the fact that the rest of the nation is on holiday...and recharge my own batteries a bit (so I'm not ending up like one of them). A relaxed agent is a good agent. That's my story & I don't care what anyone else thinks! Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Stormy Sunset - Starr Pass Residences Tucson

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Tue, 31 Aug 2010 16:54:46 -0700

If you live in the Starr Pass Residences of Tucson, you know one of the perks of owning a home here is a great setting for spectacular sunsets. Located on the west side of the metro, cradled by hills studded with saguaros, the JW Marriott Starr Pass Resort anchors this community of single family homes, condos and casitas. Rated as one of the world's best spa resorts by the Conde Nast Traveler, Fodor's & other noteworthy guides, the Starr Pass Resort also serves as an intersting backdrop for sunsets - especially on a stormy night like this one. Owning a home in the Starr Pass Residences isn't nearly as expensive as one would think - even one of the golf course casitas. Don't take my word for it though, check out the current properties on the market below. Lets play a round at the Jack Nicklaus Signature course, relax with a massage at the Hashani Spa then enjoy a meal at one of the 5 restaurants while we celebrate your new home with luxury at your doorstep - without paying a mint for it. Current Properties for sale in the Starr Pass Residences community: Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Helping Clients Re-Home Pets

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Sun, 29 Aug 2010 14:17:30 -0700

There is so much focus on how foreclosure affects people and communities, we often forget those who can't speak for themselves - our pets. Thanks to Emmary Nicholson in Las Cruces, New Mexico for finding a good resource to help with our *other loved ones* who are just as important in our lives. Over the last week, on my intraweb email, there have been quite a few realtors looking to help their clients rehome pets. I can't imagine having to do that. My girl, Belle, is everything to me. Personally, I'd live in my car before giving her up. That's my girl! However, I've seen heart-breaking stories on why people have to give up their furry friends. Home foreclosed on, new rental place won't allow pets and no one in their circle can adopt or foster. What can you do to help out without having to utter those words: "I guess you'll have to take them to the shelter." These days there are a ton of options and, thanks to the net, all it takes is a quick Google search to find help. Local animal lovers normally have a network set up for helping rehome animals either locally or attaching the animal to a transport to another town. There are also breed specific rescues that can help point you in the right direction if they can't take the pet themselves. Some rescuers will take on the role of a foster for a while until a person is set up in a place and are able to take the pet back. There is an organization called "Foreclosure Pets" that was created to help. Take a moment, do a google search in your local area and create a reference list that you can keep handy in case you happen to run across this situation. It won't take that long to do and, in the end, you're helping someone deal with a very emotional and trying time. Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

First Photos From RainCamp Prescott

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Thu, 26 Aug 2010 05:30:50 -0700

Hopefully these are the first photos posted from RainCamp Prescott - Mike Jones & I met up about 4 AM today for the easy drive up to northern Arizona together. As we pulled into Prescott, we spied quite a few intriguing photo opportunities - and took a short detour to take advantage of them. I'll let Mike share the best shots - since he had the luxury of the passenger seat! The location for RainCamp is the Prescott Resort & Conference Center situated on a ridge high up above the Prescott Valley: Prescott is known for its wide-open spaces and spectacular views. Registration isn't even finished yet & look at all the people attending! Why attend conferences like this? Learning new techniques and best practices to better help our business and our clients in more efficient ways. Another benefit is connecting in human-to-human fashion with friends we've gotten to know online and meeting new friends & business associates to develop in the future. RainCamp is more than just about technology - it is about the people behind it and the people we engage by using it...in the neverending quest to provide better service to the consumer in a manner that is best understood clearly.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Short Sale Listing "Pretenders" outed by real data

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Wed, 25 Aug 2010 15:22:33 -0700

If you're considering doing a short sale...PLEASE DON'T GET SUCKERED by the loudest huckster - they're probably lying through their teeth. Short sales are a serious matter, and should be handled by someone who is experienced, trustworthy and can back it up. I am not someone who lists short sales as a part of my practice - but I regularly refer people to a select few agents who do. Smoke & mirrors are great for magic acts...but they have no place in real estate.One unfortunate phenomenon of the Phoenix Short Sale market is the abundance of self proclaimed experts who have closed "hundreds" of transactions with a closing ratio of "90% or better". Folks - that just ain't true. It's a simple search on our MLS (ARMLS) by date range, closed cancelled and expired, tagged with "short sale", and date range back as far as you want to go, to see exactly how many Short Sales a specific listing agent has listed that have closed, cancelled or expired. Actives and Pendings don't count as until they close - you don't know if they will. Here's the harsh truth for all those who would blow smoke at unsuspecting sellers who are literally betting their financial future on the veracity of the Short Sale "Pretenders". There is not one agent in the Phoenix metro area that has closed 200 or more Short Sales. Not one! And, to accurately claim that you have closed "hundreds" (plural), 200 Short Sale closings is the absolute minimum for that claim to be true. In fact, you can count on one hand the number of Short Sale agents that have closed over 100 Short Sale transactions, and their closing ratios range from a low of 34% to a high of 73%. We don't claim to have "closed hundreds" - which would put us in the ranks of the blatant liars - we claim "dozens" - a claim which is clearly supported by the data in the MLS. We don't claim to have closed "90% or better" - which would put us in the ranks of blatant liars - we claim "100% for "regular" Short Sales", "74% or better for Hail Mary Short Sales, and an overall blended closing ratio of 89% which is clearly supported by the data in the MLS. In reviewing the track records of all Short Sale Listing Agents in the Phoenix Metro Area that have closed as many or more Short Sale transactions as we have, we were pleasantly surprised to find that we had the best closing ratio of all! Don't get me wrong, there are other well qualified Short Sale Listing Agents in our area, some of whom have closing ratios very close to ours. The next 5 Short Sale Listing Agents that have closed as many or more Short Sale transactions as we have are at closing ratios of better than 80%. So - why this "rant"? Homeowners in trouble are making decisions on who to trust to list and close their short sale based on what they see in the market place. If someone is claiming to have closed hundreds at a 90% or better closing ratio, when the truth is that they have closed less than a hundred, and their closing ratio is less than 50%, don't you think the homeowner would want to know the truth before they make a decision? This is not a case of buying a listing with an unrealistic list price. This is a case of a homeowner having a successful short sale or going to foreclosure. This is not an opportunity to lie to get more "at bats". This is the time to be honest - unless you want homeowners coming after you later on when they find out they were lied to in order for that agent to get their listing, and their reliance on the lie took them to foreclosure! * All metrics calculated from data in ARMLS * Graphic from PhotoBucket - free use approved ** Any Phoenix Metro Area Short Sale Listing Agent who disagrees with the metrics published here is welcome to contact me and request a correction or clarification, which will be done immediately if the data in ARMLS supports the claim. About the Authors - Updated 2010 If you like what you've read, there is no better time to: If you are considering a Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Show Appeal Realty to determine whether Tony and Suzanne Marriott are the best Short Sale real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Short Sale of your home. Listed, Sold and Closed Dozens of Short Sales with a 100% success rate! AvoidForeclosureInPhoenix.com PhoenixForeclosureSolutions.com HavenExpress.com HavensAbuzz.com Tony and Suzanne Marriott Associate Broker, REALTOR Show Appeal RealtyReal Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Mercado District - Tucson's Downtown Green Community

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Tue, 24 Aug 2010 13:12:48 -0700

Downtown Tucson is experiencing a rebirth. One of the newest developments is located on the actual birthplace of Tucson itself - with streets following the routes of the first canals in the area. The Mercado District of Menlo Park is a truly unique community - setting the standard for sustainability and livability in the region. All of the custom builders in The Mercado use differing Green construction methods to achieve high-performance standards while providing a peaceful environment of privacy within a vibrant community. Live/work opportunities are a part of the unique character of The Mercado - much like the original village that lies preserved beneath it. The narrow streets are by design to make the area more pedestrian-friendly. Parking for guests or visitors is plentiful and close, with Tucson's new Modern Streetcar an added bonus - The Mercado District is the western beginning of the route to the heart of Downtown and to the University of Arizona. Architecture is a blend of Old Mexico and turn-of-the-century style, with one area, The Paseo, designed to be a walking street of shops, galleries and residences that bring back a simpler way of living. Soon to come: a gallery of photos as we watch the first Paseo residences come to life from the ground up!

Lots For Sale	Residences

Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Philadelphia Blog Tax - Showing No Bloggerly Love? Or Catching Up?

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Tue, 24 Aug 2010 03:42:00 -0700

This morning I read that Philadelphia is charging bloggers a business privelege fee just like anyone else doing business in the city - which is $300 + taxes on the income. My first thought was along the lines of, "Where will the taxation STOP?" After a bit, I started wondering if we bloggers have enjoyed a business privelege without paying the price that other businesses pay as a normal course of responsibility. Many people get a decent amount of income from their blogs - affiliate marketing can produce a good income stream for some, others like myself generate income indirectly as a result of the traffic generated by their blogs (about 70% of my clients find my real estate practice via my blog). Should I be any different from the restaurants, architects, attorneys & auto repair shops in my community? Probably not. I don't want to pay more fees and taxes, but as a business owner and good citizen, I should not be treated any differently than other businesses. It isn't fair. Several questions come to mind concerning the business license aspect of it though: Will a business with an existing license have to pay another fee for their blog? (Double taxation?) How will local governments enforce such a measure? (Most of the time my blog is written & published in the county, not the city) Will multiple, interrelated social media platforms be taxed? (Facebook, Twitter, etc) What about the legal aspects of a blog that is hosted in another state? Will that dictate the actual residence of the blog itself? (visualizing all sorts of hosting operations popping up in low-tax states) Do cash-strapped governments actually have the staffing or technical experts to truly exercise measures like this? All in all, it comes down to this: The Philadelphia Experiment is an indicator of the future. Blogging for fun & profit will soon face more governmental fees. We all know that the marketplace has changed to cyberspace...and we're going to have to pay for it as cities & other governmental structures catch up. It has been a nice ride, for free, for a while. Gotta pay the piper someday.Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Another Satisfied Buyer of University Property In Tucson - Testimonial

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Thu, 19 Aug 2010 10:08:48 -0700

University property in Tucson has traditionally been very popular for investors and parents of students attending the University of Arizona. Benefiting from the proximity to campus and the ready supply of renters and buyers, the value of these properties has held up better than the overall real estate market the past few years - see this article. This area in the Tucson real estate market is one that I enjoy concentrating on, not only because of the business, but the vitality of the people and the variety of styles, architecture and property types near the University. Recently, I represented a couple who purchased a condo for their daughter to live in. Just a few weeks later, they decided to invest in another condo to use as an investment property in the same complex. Getting a testimonial from a client is a wonderful thing, but when they take the time to make a video, it is extra-special! Investing in real estate may be better now than in decades - because of the combination of prices tumbling from artificial highs a few years ago & record-low interest rates. Some university properties are bargains while others are not - having an experienced REALTOR® who knows the area well can make a difference in getting good value for your dollar or finding a "bargain" that turns into a money-pit. Below are current properties for sale in areas that are popular with University of Arizona students. The list on the left contains Residential Income properties, the list on the right are single family homes, townhomes and condos for sale. Click on either list to see more detail - no, you don't have to register or sign up for anything. If something interests you, please feel free to contact me. Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Newest Discrimination: PREGNANCY and Your Mortgage App

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Sat, 14 Aug 2010 05:07:30 -0700

Sure, the process of getting a mortgage has gotten stricter in the past few years...but this kind of questioning is not only immoral & unethical, but ILLEGAL. If you are buying a home in Tucson, Las Cruces (or anywhere else) - if you get this kind of question from a lender, walk out immediately. There are plenty of other lenders in the market. Tell your REALTOR®, and file a complaint. This kind of practice cannot be allowed to flourish in the darkness of silence.I closed on a house today where the buyer was asked by BANK OF AMERICA about their future child plans! Not if the wife was pregnant now, but FUTURE plans. This is a young couple moving from their first to second home. At the last minute, the underwriter (of course) requested several more forms and more information. Okay, normal. But one question they asked the husband was "Do you plan on having more children?" WHOA. Lani Rosales wrote about this recently on AgentGenius about this topic and her point was she was SHOCKED by the question. She didn't understand why more realtors were not outraged when this was pointed out in a Realtor Magazine article. It generated very little interest. Well this buyer was insulted and not pleased. They have one gorgeous little girl now. They qualify for the new home on the husband's income alone. It is nobody's business if the wife is pregnant (she's not) or if they ever plan on having more children. Why aren't more agents upset by this? I am a full time worker and a mother of 2. I worked throughout 2 pregnancies. I understand if I had quit work our income would have dropped and perhaps we would have not been able to afford our house. I get that. But in this case, the wife is a full time mother and her income would not "drop" if she got pregnant. How in the world does it matter? Isn't this violating Fair Housing somehow? Discrimination? In the past month other bloggers have posted about this being a lie (another mortgage blogger posted that lenders only ask this in case to see if the buyer will quit later, after getting pregnant). This is NOT THE CASE here and this is not hypothetical or third hand info. This happened TODAY to a buyer client of mine and the lender was Bank of America. Flickr photo courtesy CarbonNYC -------------------------------------------------------------------------------------------------------------------- Erica Ramus is Broker/Owner of Realty Executives in Pottsville, PA. If you're looking for a PROFESSIONAL to represent you in all of your Schuylkill County real estate needs, call Realty Executives at 570-622-6006. Serving all of Schuylkill County ... Pottsville, Orwigsburg, Schuylkill Haven, Auburn, Pine Grove, Frackville, Minersville, Ashland, Shenandoah, Port Carbon, Palo Alto, St. Clair, Barnesville real estate. Click on the link above to search Pottsville PA homes for sale or any Schuylkill County homes for sale. We have all properties listed for sale in the Schuylkill MLS on our website -- free search! No registration is required! We also run Schuylkill Appraisal Services, for all your appraisal needs in the area. If you need an appraisal, we are your Schuylkill County appraisal source. Real Estate Is About People NAR® Board of Directors 2013-16 Land Use, Property Rights & Environment 2016 RPAC Participation Council 2014-16 Federal Finance & Housing Policy 2013-14 AAR® Board of Directors 2013-16 Legislative Policy 2013-16 Inside Tucson Business "Up & Comer" 2014 Greater Tucson Leadership Class of 2012 All original material written by Kent Simpson unless attributed to source.©2007-2014

Rip Van Winkle Buys A Home In Tucson (T.R.E.S. Episode 6)

Kent Simpson, Real Estate Is About People (Realty One Group Mountain Desert) — Thu, 12 Aug 2010 09:40:46 -0700

So - is it a good time to buy a home in Tucson? Rip Van Winkle took another nap...for 5 years...see what he found out! Things have changed dramatically in the Tucson Real Estate Market in the past five years. Prices have come down considerably, and - get this - interest rates are incredibly low. The past several years have seen artificially inflated highs, so inflated that the economy of the United States suffered a severe downturn when the "bubble" burst in the Sand States of Arizona, Nevada, California and Florida. This was a serious contributing factor to the near meltdown on Wall Street - and affecting economies worldwide. The speculators and "quick buck" artists of the go-go 00's are gone, with first-time homebuyers, people looking for 2nd homes and smart investors finding value in today's no nonsense real estate market. The days of "picking up a couple of homes for an easy flip" are over, and common sense has come back to the table, at least in the Tucson market. The average homebuyer can now buy a good home at a good price, with a loan that has a historically good interest rates. Many "crystal balls" turned out to be cracked & made of cheap plastic in the "oh-oh 00's" but I have a feeling that several years down the road, the market we are in right now will be looked at as one of the best times to buy in a long time. If you find something of value here, please feel free to share or forward this to your friends and colleagues. To learn more about Tom Heath & mortgages in Tucson, click here. To search for properties available in the Tucson real estate market, click here. To learn more about people & places in the Tucson area, visit our website, THE Tucson Real Estate Show. Special thanks goes out to Barry Habib for his inspiration in making this video. The location we used is in the University of Arizona BioSciences Park, now under construction.

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