Preparing Your Home to Sell!

When it is time to sell your home – our goal as your agent,  is to sell it as quickly as possible and at the highest price possible.  We have some tips on getting your home ready to sell to help make it the most appealing to prospective buyers!
  
STEP # 1 – Take a Tour!
Remember how you feel when you walk into a model home?  A home that is completely clean, uncluttered and creates a sense that there is absolutely no work to be done.  That is exactly the look and feeling you want to create in the buyer’s mind about your home.  
Begin by driving up to the house, walking up to the front door, into the entryway, and then to each and every room and area of your property.  Look at each room and area of your home through “a buyer’s eyes”.  With notepad in hand, critique each area with an objective and realistic approach, imagining  that you are the buyer and this is your first glimpse of the home.  What are your feelings,  your first impressions of each area?  Do you feel comfortable in the house?  Examine why you do, or do not.  Your goal is to make their first impression be a positive and lasting one!  You want buyers to feel an emotional sense of being at home in your house! 

STEP #2  –
  Clear away that clutter!
The most important step in getting your home ready to sell is to get rid of the clutter!  Your goal is to create a roomy, comfortable feeling that is inviting to prospective buyers.  You want buyers to look at your house, not your stuff.   Uncluttering  makes every room in your house look and feel more spacious, making  buyers feel that they are getting more space for their money.   And they will feel that by living in your house, they can be well organized too.  

Not only will removing the clutter from your home serve to make your home more appealing to prospective buyers, it will make your life less stressful and help prepare for a smoother move to your new place!  It will take some time, and some hard work…but, the results will be worth it.  Your goal is to reduce your belongings down to the basics you will need before your move.  Don’t expect to do it all in one day.  Maybe you could set a goal to unclutter and organize one room each weekend until you are clutter free and ultra organized!  And that’s a great feeling!  So, let’s roll up our sleeves and get started!

A Place for Everything, and Everything in it’s Place!  And remember… KEEP OUT ONLY THE BASICS!

You will need to go through every room, every closet, every cabinet and every drawer.  First of all choose which room you will start with.  Experts always say, start with the most difficult area first.  When you decide the area, you will need five boxes or containers – one each for “sell it”, “store it”, “give it away”, “toss it” and “put it back where it belongs”.  If you are not sure whether to keep it out or store it, ask yourself if you are going to need it before you move.
 
CLOSETS
Closets are known to be the place we throw things when we don’t know where to put them, or don’t take the time to put them where they actually belong…therefore they tend to be our biggest challenge.   
*  Start with what I call “aggressive purging” – getting rid of absolutely everything you can.  If you didn’t wear it last season, you probably won’t next.  Ask yourself if you would pay money to keep it.  Get rid of everything that is worn looking, broken, uncomfortable, doesn’t fit, or those “what was I thinking when I bought this” items.
* Store away and label accordingly  those clothing items and shoes which you have decided to keep,  but are not in season at this time.
* Before placing your “keep” items back into the closet – now is a great time to put a fresh coat of paint on the walls in the closet.
*  Now you are ready to place the items back into the closet neatly organized, hung up,  folded and boxed in see-thru labeled storage boxes.
* Use a shoe organizing system, racks or boxes.
*  Hang your clothing in groups (by color, dresses, skirts, pants) and all facing in the same direction.
* Stack your games and puzzles with largest boxes on bottom  and the fronts flush to create an orderly appearance.
* Leave some room in your closet,  they look most appealing when there is space to add more rather than being jammed to capacity.

CABINETS AND DRAWERS
* Take everything out and sort through using the five box method…sell, store, give, toss or put it back.
* Get rid of all cookware, dishware, gadgets that you don’t actually use or those that are broken, chipped or non-working.
* Wipe out all cabinets and drawers and place shelf liner (the self-adhesive kind is more expensive & time consuming)
* When you place spices, seasonings and food items back into the pantry – make sure all labels are facing front.
* Make your counter tops look more roomy and efficient…put away small appliances, cookbooks, cooking utensils, etc.
* Group like items together (baking, serving, preparing).
* Plastic storage containers are great for storing small items.
* Purchase a new silverware organizer if yours is showing wear.
* Clean off the counters in your baths also and put away all personal care items.

AROUND THE HOUSE
* Dispose of any unhealthy looking plants
* Remove children’s art, photos, magnets etc.  from refrigerator
 * If your bookcases are much too crowded, pack away most of them – especially the worn out paperbacks.
* Sort through children’s play areas and box up extra toys and recycle or sell old ones.
* Remove all papers and magazines from dressers, coffee and end tables.
* Too much furniture or accessories in a room make it seem small and confining – store or get rid of extra pieces.

AROUND THE YARD
* Clear the yard, curb and entry way of any debris or litter.
* Organize tools and garden equipment. Coil hoses neatly.
* Trim bushes and shrubs.
* Remove and replace any dead or dying plants, trees and shrubs.
* Clear away toys, bikes.

Tucson Real Estate Market Report – March 2012

Below are some highlights from the February Residential Sales Statistics released by Tucson MLS for February 2012.

Total Sales Volume
  2012 2011 Annual % Change
February $167,639,105 $160,319,228       4.57%
January $143,708,985 $130,258,440     10.33%
Month % Change  16.65%  23.08%  
       
Total Unit Sales
  2012 2011 Annual % Change
February 1019 879       15.93%
January  915 780     17.31%
Month % Change 11.37% 12.69%  
       
Median Sales Price
  2012 2011 Annual % Change
February $125,000 $137,000 – 8.76%
January $125,000 $134,250 – 6.89%
Month % Change 0% 2.05%  
       
Active Listings
  2012 2011 Annual % Change
February 4,560 6,947 -34.36%
January 4,840 7,147 -32.28%
Month % Change -5.79% -2.80%  
       
Total under Contract
  2012 2011 Annual % Change
February 2,618 2,272 15.23%
January 2,398 2,013 19.13%
Month % Change 9.17% 12.87%  


   
  • Total Sales Volume is up 16.65% from January
  • Average List Price increased from $164,112 in January to $171,723 in February – an increase of 4.64%
  • Total Unit Sales rose 11.37%
    over January
  • Average Sales Price rose 4.75% from January
  • Number of Properties under Contract increased 9.17% over January
  • Average days on market decreased from 80 days in January to 77 days in February

 

 

The Basics of a Short Sale

Many homeowners are having a difficult time right now due to job loss, reduction in income or other circumstances out of their control.  One option for these homeowners is to do what is called a short sale.

So what is a short sale?  A short sale is a real estate sales transaction in which the seller’s mortgage lender agrees to accept a payoff of less than the balance due on the loan or loans.  Before the lender will approve a short sale, the seller must prove that he/she does in fact have a hardship.

A few examples of a hardship are:

  • Unemployment / reduced income
  • Divorce
  • Medical emergency
  • Job transfer out of town
  • Bankruptcy
  • Death

Before an offer comes in on the home, the seller will need to prepare a financial package for submission to the short sale bank. Each bank has its own guidelines but the basic procedure is similar from bank to bank. The seller’s short sale package will most likely consist of:

  • Letter of authorization, which lets your agent speak to the bank.
  • HUD-1 or preliminary net sheet
  • Completed financial statement
  • Seller’s hardship letter
  • 2 years of tax returns
  • Recent payroll stubs
  • Last 2 months of bank statements

    Not all real estate agents are trained and knowledgable about how to guide sellers through this complex and often challenging process.  We have a lot of experience and great success in getting our short sales to closing.   Pricing the home correctly when listing the home for sale  is a very important step in  reaching a successful short sale agreement with the lender.  Since we have done thousands of BPO’s on properties, we know the process and how to best advise the seller in pricing their home.   If you are a homeowner who is facing the decision whether to do a short sale and would like to discuss your options…we can help. 

    The Wendling Team
    Keller Williams Southern Arizona
    1745 E. River Road, Suite 245
    Tucson, Arizona 85718

    Direct: Steve Wendling (520) 240-5123
                   James Wendling (520) 971-8924

    Email: Steve@WendlingTeam.com or James@WendlingTeam.com
    Web: www.WendlingTeam.com

Tucson Activities – March 2012

ARTS & CRAFTS!
SPRING TRAINING!
AND, READING IN THE PARK!

Just a few of the fun things to do in the Tucson area in March!
If you are looking for some great activities to  do as you get out and enjoy our sunny, warm, gorgeous Tucson weather…here are a few ideas!

Arizona Theatre Company
F. Scott Fitzgerald’s
The Great Gatsby
February 25- March 17
Temple of Music and Art
330 S. Scott Avenue (Downtown Tucson)
(520) 622-2823 (Box Office)
http://www.arizonatheatre.org/

Stories in The Canyon
Tohono Chul Park
Tuesdays at 10 a.m
Just for parents and tots, listen to traditional and original stories about the desert and its creatures streamside in the Garden for Children at Tucson’s Tohono Chul Park.
http://www.tohonochulpark.org/wordpress/

Meet Me in Marana
A fun low-key social walk/run along the Santa Cruz River and around the new Silverbell Crossroads Park. Different distance options are available, from 2 miles upwards.
Every Wednesday at 5:00 p.m.  Admission is FREE!  Weekly raffle drawings!
http://www.azroadrunners.org/news/full/changes_to_meet_me_in_marana

Oro Valley Festival of the Arts
March 17 & March 18
Saturday 9:00 a.m. – 4:00 p.m.
Sunday 10:00 a.m. – 4:00 p.m.
Oro Valley Market Place
Oracle/Tangerine
This two day festival features up to 120 artists in all mediums, live music, food vendors and family arts activities.
http://www.orovalleyfestival.org/

Major League Spring Training
Kino Veterans Memorial Stadium
March 16, March 18 & March 23
http://www.kinosportscomplex.com/Calendar.html

Tucson Festival of Books

University of Arizona
March 10- March 11
http://tucsonfestivalofbooks.org/

Fourth Avenue Street Fair
March 23-25
10:00 a.m. – 6: p.m.
http://www.fourthavenue.org/fairs/general-information/

3.8% Tax Is Not a Transfer Tax on Real Estate

Many rumors are going around on the Internet and by e-mail that the health care reform law enacted two years ago includes a 3.8 percent transfer tax on real estate starting in 2013. That rumor is not true.  The 2010 health care legislation did create a new 3.8% tax , but it applies only to a limited group of taxpayers. 

We hope the information below,  taken from the National Association of Realtors website, will help to answer questions about this tax on “unearned” Net investment Income.

Health Insurance Reform: Frequently Asked Questions (FAQs)

New Medicare Tax on “Unearned” Net Investment Income

(Last updated: Feb. 16, 2012)

Download this set of FAQs> (PDF: 99K)

Q-1: Is there a 3.8% real estate “sales tax” or a transfer tax created in health care bill?

A: No. There is neither a real estate “sales tax” nor a real estate transfer tax under any federal law. The Internet has generated several viral items describing such a tax. Those Internet postings are totally false. The 2010 health care legislation did create a new 3.8% tax, but it applies only to a limited group of taxpayers.

Q-2: So who will be subject to the new tax? When is it effective?

A: The new 3.8% tax will apply to the “unearned” income of “High Income” taxpayers. The new Medicare tax on unearned income will take effect January 1, 2013. Proceeds from the tax will be allocated to shoring up the Medicare fund.

Q-3: Who is a “High Income” Taxpayer?

A: Those whose tax filing status is “single” will be subject to the new unearned income taxes if they have Adjusted Gross Income (AGI) of more than $200,000. Married couples filing a joint return with AGI of more than $250,000 will also be subject to the new tax. (The AGI threshold for married filing separate returns is $125,000.)

Q-4: Are the $200,000 and $250,000 thresholds indexed for inflation?

A: No.Thus, over time, more individuals may become subject to this tax.

Q-5: What is “unearned” net investment income?

A. Unearned income is the income that an individual derives from investing his/her capital. It includes capital gains, rents, dividends and interest income. It also comes from some investments in active businesses if the investor is not an active participant in the business. The portion of unearned income that is subject both to income tax and the new Medicare tax is the amount of income derived from these sources, reduced by any expenses associated with earning that income. (Hence the term “net” investment income.)

Q-6: So the new tax will apply to rents from investment properties that I own?

A: Maybe. Remember that net investment income includes only net rental income. Thus, gross rents would not be subject to the tax. Rather, gross rents would be reduced (as they are under the income tax) by all allowable expenses, including depreciation, cost of repairs, property taxes and interest expense associated with debt service. AGI includes net income from rent, so if your AGI is above the $200,000/$250,000 thresholds, then the rental income might be subject to the tax.

For many investment real estate owners, the net rents will be the same as or similar to the amounts reported on their Schedule E, filed with their Form 1040 Income Tax Return. (For calculations, see Q-7, below. See also Q-8 through Q-12 related to capital gain from sale of principal residence, losses on sale and to vacation homes, below.)

Q-7: Does the tax apply to the yearly appreciation of an asset?

No. Capital gains are subject to this new tax only in the year when the asset is sold. The amount of the gain will be measured in the same way that it is for income tax purposes. This rule applies to real estate and all other appreciating capital assets. Net capital gains are taxable only in the year of sale.

Q-8: How is the new 3.8% Medicare tax calculated?

A: The new 3.8% Medicare tax is assessed only when Adjusted Gross Income (AGI) is more than $200,000/$250,000. (See Q-2 above.) AGI includes net income from interest, dividends, rents and capital gains, as well as earned compensation and several additional forms of income presented on a Form 1040 Income Tax Return.

The tax is NOT imposed on the total AGI, nor is it imposed solely on the investment income. Rather, the taxable amount will depend on the operation of a formula. The taxpayer will determine the LESSER of (1) net investment income OR (2) the excess of AGI over the $200,000/$250,000 AGI thresholds. Thus, if net investment income is the smaller amount, then the 3.8% tax is applied onlyto the net investment income amount. If the excess over the thresholds is the smaller amount, then the 3.8% tax would apply only to the excess amount.

Q-9: Give me an example.

If AGI for a single individual is $275,000, then the excess over $200,000 would be $75,000 ($275,000 minus $200,000). Assume that this individual’s net investment income is $60,000. The new 3.8% tax applies to the smaller amount. In this example, $60,000 of net investment income is less than the $75,000 excess over the threshold. Thus, in this example, the 3.8% tax is applied to the $60,000.

If this single individual had AGI if $275,000 and net investment income of $90,000, then the new tax would be imposed on the smaller amount: the $75,000 of excess over $200,000.

Rules of thumb for predicting the application of this tax year to year are not readily determinable, largely because the proportion of net investment income compared to AGI will vary from year to year and from individual to individual.

Q-10: Will the $250,000/$500,000 exclusion on the sale of a principal residence continue to apply?

A: Yes. Any gain from the sale of a principal residence that is less than $250,000 (individual) or $500,000 (joint return) will continue to be excluded from the income tax. The new 3.8% tax will NOT apply to this excluded amount of the gain.

Q-11: Will the 3.8% tax apply to any part of the gain on the sale of a principal residence?

A: Maybe. The new Medicare tax would apply only to any gain realized that is more than the $250K/$500K existing primary home exclusion (known as the “taxable gain”), and only if the seller has AGI above the $200K/$250K AGI thresholds.

So, for example, if the taxable gain was $30,000 and a married couple had AGI (which would include the taxable gain) of $180,000, the 3.8% tax would not apply because AGI is less than $250,000. If that same couple had AGI of $290,000, then the application of the 3.8% tax would be subject to the same formula described above. The $30,000 taxable gain on the sale would be less than the $40,000 excess above $250,000 AGI, so the $30,000 gain would be subject to the new 3.8% tax.

Q-12: Is rent from a vacation home subject to the 3.8% tax? And what about the gain on sale of a vacation or rental property?

A: The application of the tax will depend on whether the vacation home has been rented out, the period for which it has been rented and whether the property is solely for the enjoyment of the owner. If the owner has rented the home out to others, then the 14-day rent exclusion will continue to apply. Thus, if the owner rents the property to others (including family members) for 14 or fewer days, there would be no net investment tax. (Note that no deductions for expenses would be available, as under current law.)

If the home has been rented to others (including family members) for more than 14 days, then the rents (minus related expenses) would be considered as part of net investment income and could, depending on AGI and the calculations described above, be subject to the new tax.

If the vacation home has been used solely for personal enjoyment (i.e., there is no rental income and no associated expenses), then a gain on sale would be treated as net investment income and could be subject to the tax, depending on AGI. Similarly, if the property had generated rents, any net gain on sale could also be included in net investment income. The amount of the tax (if any) would depend on the calculation formula, above in Q-8 and Q-9.

Q-13: My rental property generates a net loss each year. How will those losses be factored into the new tax? And what if I have net capital losses when I sell?

A: Net losses from rents and net capital losses reduce AGI. Thus, the losses themselves would not be subject to the tax. If, after losses, AGI still exceeds the High Income thresholds, the 3.8% tax would still apply to any net rental, interest or dividends income.

Q-14: I earn all of my income from real estate investments that I own and operate myself. Will my rents and gains be subject to the new tax?

A: No.If the ownership and operation of real estate you own is your sole occupation, then those activities are what’s called your “trade or business.” Income derived from a trade or business is not subject to the new 3.8% tax. If the owner of rental properties has a “day job,” however, real estate investments are not considered as a trade or business, but are rather considered as investments, even if they are a major source of income.

Many Realtors engage in business activities are that are the “typical” selling, leasing and brokerage endeavors usually associated with the term “Realtor.” If they also own rental real estate assets as part of their own personal investment portfolio, the net rents from that portfolio could become subject to the new 3.8% tax on net investment income, depending on AGI.

Q-15: Will “High Income Filers” lose any portion of the Mortgage Interest Deduction?

A: No. The mortgage interest deduction is unchanged. No cap was imposed on any itemized deductions.

Q-16: Why is this new tax called a “Medicare tax?”

A: The revenues generated from this tax will be allocated to the Medicare Trust Fund that is part of the Social Security System. That fund is currently on shaky financial footing. These additional revenues are intended to shore up the Medicare Trust Fund.

Q-17: How will this new tax affect marginal (the highest) tax rates when it is combined with existing law and with the possible expiration of the Bush tax cuts enacted in 2001?

A: Marginal tax rates are the tax rates assessed on the “last” dollars included in taxable income. If the Bush tax cuts are allowed to expire, then the marginal rates for upper income individuals will increase, particularly for capital gains income. The chart below reflects the impact of those changes, presented based on implementation of current law effective dates.

Download the chart> (PDF: 324K)

Two Things You May Have Missed

Before the end of the year, Congress and the President agreed to extend the payroll tax cut. In that bill, there were two items of interest for those involved in real estate.

1.) The hike in the Guarantee Fees charged by the GSEs Fannie Mae and Freddie Mac.

The 10 basis point increase in the fees has translated to a .375% to .5% increase in mortgage rates for conventional loans. Many customers who started their loans a couple of months ago are being “surprised” with higher than expected rates. Heck, everything you read in the papers says rates are at historic lows and will likely stay there through 2014. Many consumers feel as if their lender is being unscrupulous. However, your lender has fallen victim to the increase in Guarantee Fees and how the secondary market is passing on the cost. What looks like possible lender greed is just a passing on of the increased expense imposed by the government. Sadly, the increased revenue isn’t even being used to help aid an ailing Fannie Mae or Freddie Mac. It is being turned over to the US Treasury to cover the temporary extension of the payroll tax cut.

2.) Permission for HUD to increase the insurance premiums they charge on FHA loans.

If you remember, HUD charges two insurance premiums – a monthly one and an up-front one that is usually added into the loan. Most recently, they reduced the up-front mortgage insurance premium (UFMIP) and dramatically raised the monthly fee (MMIP). It is widely anticipated that, maybe as soon as April, we will see a hike in the UFMIP with no adjustment to the MMIP. While this will help shore up the reserves in the insurance fund, it will simultaneously make buying a home more expensive. No one knows the effective date or amount of the increase. Buyers should look to buy before the increase in fees.

We always hear how our government officials tuck away things in their bills. In this case, while the headlines during the holidays praised Washington for preserving the payroll tax cut, they may have hurt us more in the long run.

About The Author

Dean Hartman is the Regional Vice President of Benchmark Lending and a 25 year veteran of the mortgage banking industry. He has achieved the designation of Certified Mortgage Planning Specialist, and also specializes in sales leadership, seminar presenting, and team building. Check out Dean’s Facebook Page, DreamTeamTV

 

Tucson Real Estate Market Report – May 2011

Tucson Main Market
Active listings in April 2011 were 7,729 compared to 8,036 in March 2011. 
There were 1,147 closings in April compared to 1,170 in March.
Median price of sold homes was $132,000 in April compared to $125,000 in March.

 

There were 1,229 new properties under contract in April 2011, down 34% from April 2010.
Number of closings in April 2011 was 3% above April 2010.
Median price of sold homes in April 2011 was 18% below April 2010.

Central
There were 993 active listings in April compared to 1,026 in March.
There were 135 closings in April compared to 121 in March.
Median price of sold homes was $112,000 in April compared to $99,900 in March.
Number of new properties under contract in April 2011 was down 41% from April 2010.
Number of closings in April 2011 was 1% below April 2010.
Median price of sold homes in April 2011 was 17% below April 2010.

East
There were  517 active listings in April compared to 523 in March.
There were 84 closings in April compared to 78 in March.
Median price of sold homes was $128,000 in April compared to $107,125 in March.
Number of new properties under contract in April 2011 were down 50% from April 2010.
Number of closings in April 2011 was 25% above April 2010.
Median price of sold homes in April 2011 was down 15% from April 2010.

North
There were 715 active  listings in April compared to 759 in March.
There were 90 closings in April compared to 100 in March.
Median price of sold homes was $302,500 in April compared to $285,000 in March.
Number of new properties under contract in April 2011  was down 24% from April 2010.
Number of closings in April 2011 was 27% above April 2010.
Median price of sold homes in April 2011 was down 6% from April 2010.

Northeast
The number of active listings in April was 431 compared to 445 in March.
There were 57 closings in April compared to 39 in March.
Median price of sold homes was $200,001 in April compared to $220,000 in March.
Number of new properties under contract in April 2011 was 36% below April 2010.
Number of closings in April 2011 was 10% above April 2010.
Median price of sold homes in April 2011 was down 19% from April 2010.

Northwest
There were 1,968 active listings in April compared to 2,032 in March.
There were 285 closings in April compared to 280 in March.
Median price of sold homes was $178,000 in April compared to $170,000 in March.
Number of new properties under contract in April 2011 was down 32%  from April 2010.
Number of closings in April 2011 was 7% below April 2010.
Median price of sold homes in April 2011 was 12% below April 2010.

Oro Valley
There were 473 active listings in April compared to 493 in March.
There were 52 closings in April compared to 53 in March.
Median price of sold homes was $227,000 in April compared to $235,000 in March.
Number of new properties under contract in April 2011 was down 30% from April 2010.
Number of closings in April 2011 was 25% below April 2010.
Median price of sold homes in April 2011 was down 15% from April 2010.

South
There were 542 active listings in April compared to 535 in March.
There were 93 closings in April compared to 107 in March.
Median price of sold homes was $66,000 in April compared to $83,500 in March.
Number of new properties under contract in April 2011 was down 45% from April 2010.
Number of closings in April 2011 was 1% below April 2010.
Median price of sold homes in April 2011 was down 22% from April 2010.

Southeast
There were 615 active listings in April compared to 632 in March.
There were 114 closings in April compared to 129 in March.
Median price of sold homes was $120,250 in April compared to $118,000 in March.
Number of new properties under contract in April 2011 was down 26% from April 2010.
Number of closings in April 2011 was 21% above April 2010.
Median price of sold homes in April 2011 was 24% below April 2010.

Southwest
The number of active listings in April was 520 compared to 564 in March.
There were 99 closings in April compared to 93 in March.
Median price of sold homes was $88,000 in April compared to $84,900 in March.
Number of new properties under contract for April 2011 was down 30% from April 2010.
Number of closings in April 2011 was 16% above April 2010.
Median price of sold homes in April 2011 was down 16%  from April 2010.

West
The number of active listings in April was 410 compared to 433 in March.
There were 42 closings in April compared to 69 in March.
Median price of sold homes was $112,000 in April compared to $110,000 in March.
Number of new properties under contract in April 2011 was down 40% from April 2010.
Number of closings in April 2011 was 29% below April 2010.
Median price of sold homes in April 2011 was down 20% from April 2010.

Tucson Real Estate Market Report – March 2011

Tucson Main Market
Active listings in February 2011 were 8,169 compared to 8,225 in January 2011. 
There were 865 closings in February compared to 769 in January.
Median price of sold homes was $137,900 in February compared to $134,500 in January.
There were 1,103 new properties under contract in February 2011, down 3% from February 2010.
Number of closings in February 2011 was 20% above February 2010.
Median price of sold homes in February 2011 was 8% below February 2010.

Central
There were 1,016 active listings in February 2011 compared to 984 in January 2011.
There were 89 closings in February compared to 95 in January.
Median price of sold homes was $115,000 in February compared to $110,000 in January.
Number of new properties under contract in February 2011 was down 34% from February 2010.
Number of closings in February 2011 was 24% above February 2010.
Median price of sold homes in February 2011 was 17% above February 2010.

East
There were  523 active listings in February 2011 compared to 525 in January 2011.
There were 54 closings in February compared to 61 in January.
Median price of sold homes was $127,900 in February compared to $124,000 in January.
Number of new properties under contract were up 10% from February 2010.
Number of closings in February 2011 was 8% above February 2010.
Median price of sold homes in February 2011 was down 10% from February 2010.

North
There were 807 active  listings in February 2011 compared to 810 in January 2011.
There were 78 closings in January compared to 54 in January.
Median price of sold homes remained the same at $300,000 in February.
Number of new properties under contract was down 3% from February 2010.
Number of closings in February 2011 was 14% below January 2010.
Median price of sold homes in January 2011 was down 39% from February 2010.

Northeast
The number of active listings in February was 443 compared to 416 in January.
There were 37 closings in February compared to 36 in January.
Median price of sold homes was $221,100 in February compared to $206,700 in January.
Number of new properties under contract in February 2011 was 12% below February 2010.
Number of closings in February 2011 was 10% below February 2010.
Median price of sold homes in February 2011 was down 4% from February 2010.

Northwest
There were 2,074 active listings in February 2011 compared to 2,107 in January.
There were 243 closings in February compared to 197 in December.
Median price of sold homes was $185,000 in February compared to $168,000 in January.
Number of new properties under contract in February 2011 was up 14%  from February 2010.
Number of closings in February 2011 was 27% above February 2010.
Median price of sold homes in February 2011 was 14% below February 2010.

Oro Valley
There were 504 active listings in February 2011 compared to 508 in January.
There were 53 closings in February compared to 37 in January.
Median price of sold homes was $265,000 in February compared to $200,000 in January.
Number of new properties under contract in February 2011 was down 5% from February 2010.
Number of closings in February 2011 was 51% above February 2010.
Median price of sold homes in February 2011 was down 7% from February 2010.

South
There were 556 active listings in February compared to 558 in January.
There were 63 closings in February compared to 65 in January.
Median price of sold homes was $74,500 in February compared to $75,000 in January.
Number of new properties under contract in February 2011 were up 3% from February 2010.
Number of closings in February 2011 was 5% below February 2010.
Median price of sold homes in February 2011 was down 12% from February 2010.

Southeast
There were 658 active listings in February compared to 675 in January.
There were 75 closings in February compared to 71 in January.
Median price of sold homes was $128,500 in February compared to $141,000 in January.
Number of new properties under contract in February 2011 were down 1% from February 2010.
Number of closings in February 2011 was 32% above February 2010.
Median price of sold homes in February 2011 was 16% below February 2010.

Southwest
The number of active listings in February was 590 compared to 609 in January.
There were 74 closings in February compared to 60 in January.
Median price of sold homes was $90,000 in February compared to $85,000 in January.
Number of new properties under contract for February 2011 was down 13% from February 2010.
Number of closings in February 2011 was 4% above February 2010.
Median price of sold homes in February 2011 was down 14%  from February 2010.

West
The number of active listings in February 2011 was 420 compared to 427 in January 2010.
There were 37 closings in February compared to 44 in December.
Median price of sold homes was $115,900 in February compared to $140,500 in January.
Number of new properties under contract in February 2011 was down 3% from February 2010.
Number of closings in February 2011 was virtually unchanged from February  2010.
Median price of sold homes in February 2011 was down 8% from February 2010.

Announcing a Great New Tool!

The Wendling Team is excited to announce a great new tool which makes it possible for you to receive immediate MLS information on a property…sent directly to your cell phone!  When you are driving around and see a property in the Tucson area, Green Valley or Sierra Vista…and would like to receive information and photos on a home, simply text LONGWENDLING to 59559 – then when prompted…text house number and/or street name for immediate info!