Can you sing “What a Difference a Day Makes!” How the market has changed! In one month we see the interest rates jump from about 3.5% to 4.75%. Fannie Mae did predict interest rates would go to 4.75%...but at the end of the year! I expect they will jump all over the place. Nationwide foreclosures are up! Arizona has a rate of 1 in 742 homeowners going into foreclosure! The amount of investor purchases dropped a few percent. ETC! Tucson saw cash purchases fall behind conventional loan purchases, which also indicates there are less investors. The investors have helped the prices go up!
On a positive note...interest rates are still historically amazing! Properties over $300,000 having been selling very well over the past few weeks. Prices, although going down a tad are still fairly stable. So whether you are buying or selling, this is not a bad time at all! Statistics show people are happier and more productive when they own a home!
There is a great tool available to help you search active homes, sold homes etc. You can download this on your phone, iPad or even an Android: http://longrealtyapp.com/genethiel.
Think Your AC Won't Make it Through the Summer?
Air conditioning and HVAC units don’t last forever — 12 years is an average lifespan — and the moment they fail is usually when you need them the most. The good news is that not every system malfunction spells total doom. Many nuisances are so cheap and easy to fix, you'll kick yourself for not doing them sooner.
Warning sign #1: My air conditioning won't turn on
Possible cause: Often, the most likely culprit is the easiest to remedy: the thermostat isn’t set correctly, or power isn’t reaching the AC unit.
The fix: Check to see that the thermostat is set to AC or “cool,” that the temperature setting is correct, and that the battery is fresh. Second, check the circuit breaker: Could simply be a tripped fuse. Cost: Free
Warning sign #2: I'm not as comfortable as I was last year
Possible cause: "Airflow is paramount to comfort". If you aren't comfortable, the problem usually can be traced to issues with airflow.
The fix: Change the filter. Depending on the quality of the filter, the amount of people living in the house, and if there are pets, the filter should be changed every 30-90 days. Outdoors, make sure there's at least 24 inches of clearance on the sides and 5 feet on top of the unit. Also, check to make sure there are no obstructions to the home's cold air returns and registers. Cost: $5 to $20, depending on filter.
Warning sign #3: My utility bills are abnormally high
Possible cause: A spike in operating costs typically signals inefficient operation. After a dirty filter (warning sign #3), the most likely culprit is a choked condensing coil.
Located within the outdoor unit, the coil has countless cooling fins — much like a car radiator — that can accumulate dust and debris. The fix: Call out a pro for a spring tune-up. Cost: $75 to $150
Warning sign #4: Weird noises during startup and operation
Possible cause: Rattling, buzzing, or ticking? The good news is that the cause might be little more than a loose screw. The bad news is that it could be caused by a bum blower motor (indoors) or bent fan blade (outdoors). The fix: If you're lucky, a simple tightening here and lubricating there will fix the problem. If not, you might require a new fan motor or fan blade. Cost: $75 for an inspection and tune-up; $750 for a new motor.
Warning sign #5: The AC shuts off before or long after I'm comfortable
Possible cause: Improper placement of the thermostat can wreak havoc on one's comfort. The unit might be in direct sun, too close to a register, or near a hot oven. Also, a remodel might have you spending more time where the thermostat is not.
The fix: Relocate the thermostat. Cost: Free if you're handy (and plan on reusing the same unit), up to $150 for a new programmable unit and somebody to install it.
Needless to say there are more easy tips!
Tucson and Vicinity Residential Re-Sale Statistics
||Avg. Sales Price
||Days on Market
News, Notes, Upcoming Events…
Did You Know…
- On June 24, 1540, Francisco Vasquez Coronado is believed to have prayed to St. John the Baptist for rain from a location along the banks of the Santa Cruz River. The rain came and June 24 is celebrated as El Dia de San Juan, marking the beginning of the season of Tucson’s summer rains. Local tradition hails St. John the Baptist as the Saint who brings rain.
|Do you know a buyer for these homes?
6918 E. Calle Ileo
Great property for an investment or home! Over 1500 sq. ft., garage, air conditioned, dual payne windows, 3 bedrooms...
1125 E. Elm
Fabulous historic 1926 home with beautiful wood floors, remodeled kitchen and more. Plus a duplex in the back.
If you are looking for a painter or a heating & cooling specialist, check your 2012 Service Directory.
If you don't have one, please call me!
(This Newsletter is for information only and is not an attempt to solicit other Broker's listings.)