Welcome

Posted on February 7, 2012 by Administrator

Welcome to Bonisolli Real Estate’s new Web Site.  Here you’ll find:

  • A Place to Search for Properties
  • A Place for Buyers and Sellers to ask questions & get information
  • A place to get to know each other

Every day we’re bombarded by real estate information in the local and national media so it’s hard to get a handle on what’s really happening in the Tucson market. Short sales, foreclosures, HUD properties, auctions…… These are topics that most of us knew nothing about 5 years ago. But now it’s in our faces.  As a buyer or seller you are affected by these in one way or another.  So, in addition to finding you a home or selling your home, we need to consider everything that’s happening in the market when preparing your offer or pricing your listing.  That’s what we’re here for!

Example:  Is every buyer eligible to purchase a bank foreclosure?  Sure!  BUT we need to take into consideration:

a.  The type of financing you’re doing

b. What repairs are needed

c. Which bank owns the title

d. If it will be owner occupied or rented out

There are many other factors that come into play.  Talk to us… Ask us questions.

WE HAVE A QUESTION FOR YOU!

If you knew someone could/would track everything you did on a “home search” website (find out what & how many times you looked at a listing, what pictures you looked at the most, etc.) would you:

A. Not care   B. Stop using the site  C. Complain

We really need your feedback on this.  We’ll let you know why in a few days. We have a decision to make and your response will help make our decision.

Posted in About US | Leave a comment

Tucson Inventory of Homes Going Down??

Posted on March 21, 2013 by Administrator
To those of you who are telling clients that Tucson’s inventory is lower you really need to check your hot sheets and MLS stats:
HOT SHEET: Today (the 21st of March) Look at your hot sheet. 50 New Listings and 28 Closed sales. No matter how you slice it- it still means 22 more listings we added to the inventory.
MLS STATS: Here are the MLS stats for January 2013 as taken and copied from TARMLS:
January’s Average Sales Price of $182,378 is a 0.35% decrease from December’s number $183,011.
 The Median Sales Price in January of $145,000 fell slightly from $147,500 in December, but has increased 16% since last January.
 Average List Price decreased .12% in January and is up 15.17% from January 2012.
 Total Sales Volume dipped slightly in January, resulting in a 6.48% decrease since December.
 Total Under Contract rose significantly in January to 2,415 from 2,022 in December, which brought about a 19.44% increase.
 Total Unit Sales of 884 decreased by 6.16% from last month.
 Total Active Listings of 4,459 increased by .22% over December.
 New Listings increased 39.5% to 1,893, from December’s number of 1,357.
 Average Days on Market increased to 57 in January, an increase of 2 days since last month.
 Percentage of cash sales was 36.7% in January compared to 33.1% in December.
Unless I’m reading this incorrectly, DOM is up, List price is down, Sales Volume is down, Sales price is down. You can study these numbers all you want but if the daily hot sheet shows more new listings than closings we are ADDING inventory.

To those of you who are telling clients that Tucson’s inventory is lower you really need to check your hot sheets and MLS stats:
HOT SHEET: Today (the 21st of March) Look at your hot sheet. 50 New Listings and 28 Closed sales. No matter how you slice it- it still means 22 more listings we added to the inventory.
MLS STATS: Here are the MLS stats for January 2013 as taken and copied from TARMLS:
January’s Average Sales Price of $182,378 is a 0.35% decrease from December’s number $183,011.  The Median Sales Price in January of $145,000 fell slightly from $147,500 in December, but has increased 16% since last January.  Average List Price decreased .12% in January and is up 15.17% from January 2012.  Total Sales Volume dipped slightly in January, resulting in a 6.48% decrease since December.  Total Under Contract rose significantly in January to 2,415 from 2,022 in December, which brought about a 19.44% increase.  Total Unit Sales of 884 decreased by 6.16% from last month.  Total Active Listings of 4,459 increased by .22% over December.  New Listings increased 39.5% to 1,893, from December’s number of 1,357.  Average Days on Market increased to 57 in January, an increase of 2 days since last month.  Percentage of cash sales was 36.7% in January compared to 33.1% in December.
Unless I’m reading this incorrectly, DOM is up, List price is down, Sales Volume is down, Sales price is down. You can study these numbers all you want but if the daily hot sheet shows more new listings than closings we are ADDING inventory.

IT’S STILL A GREAT TIME TO BUY IN TUCSON

Posted in About US | Leave a comment

A Mixed Bag To Choose From

Posted on April 3, 2012 by Administrator

OK so we just did a “1st Time Buyers Sample” of available properties in 85710 and here’s what it looks like in the price range of $80,000 to $125,000:

11      REO or Bank owned properties for sale.  These are homes that have already gone through foreclosure and are now bank owned.  These are buy “as is” on the bank’s terms.  For the HUD and FannieMae homes we do an on-line bid.  Unfortunately, even though the bid is placed on- line a complete sales package needs to be completed by the buyer and agent and up-loaded to the “bid” site.  These packages are quite lengthy.  HUD and FannieMae both need to revise their procedure so that you only have to download the package if your bid wins.

12     Short Sale Listings.  A Short Sale means that the home is being sold for less than the mortgage balance and requires acceptance of the price by the lender.  These are still taking 3-4 months from offer submittal to lender Acceptance Letter.  Most short sales are now requiring the buyer to post $1,000 Earnest Money to be deposited with the Escrow Co.  while waiting for the lender approval.  If the buyers gets impatient during the 1st 60 days of waiting and elects to bow out of the deal or finds another property the buyer loses their $1,000.  I can understand the seller wanting to be sure he has a buyer that’s willing to hang around and wait for the Lender to approve the sale price…….but many times the short sale is never approved and the buyer ends up waiting for nothing.  As a buyer of a “short sale” you need to be pretty sure the sale is going to get approved before you’re willing to plunk down $1,000, sit back and just wait.  You’d better hope that the seller’s agent is  a. experienced with short sales   b. organized  c. pushy.

22     Regular Listings.  What do I mean by regular?  Not a short sale and not a bank owned property.  HOWEVER, probably half of the “regular” sales I checked were purchased after foreclosure from the bank, spruced by (by varying degrees) and put back on the market.  On these “spruce-ups” you get no history of work that has been done.  Even on the ones that have been virtually gutted and done over you have to sign a statement stating that you agree that the seller knows nothing about the property or its history.  That’s hogwash……..!  If an investor just purchased the property as a foreclosure and gutted it and did everything over (roof, AC, Heating, etc.) why does this investor get away with non-disclosure??  At the least you need to know what they did, when they did it and is it under warranty by the product mfg.

SO, out of 45 listings only 11 were your “every-day Joe” seller.

Be watchful out there you 1st time buyers; especially if you are using FHA financing.   You need to work with an Agent that can guide you and help you find the right home – one that is FHA-able.  You don’t want to wait until you have spent your hard earned money on a home inspection to find out it won’t pass FHA muster.  Experienced agents like the ones at Bonisolli Real Estate can eyeball most of the FHA red-flags.

Focus on Location, find the experienced agent that you mesh with and keep looking; don’t give up.  When you find the right home don’t delay.  Put in that offer and do what you can within your financial boundaries to get that property.  Interest rates and prices are fabulous and we don’t know how long that will last.

Posted in About US | Leave a comment