Sonoita, AZ Real Estate News

By Charlie Kentnor
(Keller Williams Southern Arizona)
No matter how you look at the two main indicators of our market, unit sales or dollar volume, this is a better year than last for sure. During the first quarter of 2009, 4 homes changed hands with a dollar value of $1,008,900. This year 10 homes changed hands at a combined value of $2,412,400. (All statistics from the Tucson Multiple Listing Service.) Land transactions, however, were a different story: In 2009 there were 6 sales with a total value of $920,726 versus 3 sales with a value of $370,000 this year. When you consider the total dollar value of transactions in 2010 against 2009 being up 44% ($2,782,400 and $1,929,627), it seems a bit more impressive than it is. Yes, we are happy with the trend, but this time of the year we should see something in the neighborhood of $10MM or so...
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By Charlie Kentnor
(Keller Williams Southern Arizona)
The following link takes you to an article that appeared in the Wall Street Journal about global warming. It is yet another explanation, but perhaps more plausible. http://ow.ly/12gus The national real estate markets, save for commercial, are generally looking very positive. Financing is still an issue and selling one home to buy another is still not the easiest task to complete. Nevertheless, the overall trend seems strong and sustainable. The Mountain Empire market is still undergoing some adjustment as there have not been nearly enough purchases of homes to offset the replacement inventory. Last year there were about 70 homes in our area listed in the Tucson MLS. The other day the total was 102! The normal level should be in the 60's, or about 1 1/2 years. (Normal for urban markets i...
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By Charlie Kentnor
(Keller Williams Southern Arizona)
Last Friday I ran a list of homes for sale in my market and listed on the Tucson MLS. It is astounding! The number just keeps on rising. The tally was 97 and there are several other homes listed elsewhere. Our normal sales level is about 35 and our normal number of homes for sale is about 45, with 60 being off the charts in the past. I believe everyone of the local REALTORS® is doing what they can to attract buyers, but it seems we just attract more and more sellers. I'm looking for any novel ideas out there to see if I can expand the universe of buyers into more markets. We have a graet climate - maybe the best! - and we have easy access to the Tucson airport and Tucson shopping as well as Sierra Vista and Nogales. This is not the desert. This is a grassland with mountain views in all ...
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By Mike Jones, Mike Jones NMLS 223495
(SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) )
The Arizona Cowboy Symposium, "a western heritage event that preserves the tradition, heritage and memories of the rural American West," is coming to the Santa Cruz County Fairgrounds November 13-15, 2009. Supporters of The Arizona Cowboy Symposium include Southwest Strings right here in Tucson, purveyor of quality instruments & accessories at exceptional prices, and Larrivee Guitars, beautifully crafted guitars endorsed by Doc Stovall.  If (like me) you're fortunate enough to attend, here's what awaits us: 30 Western Acts on 4 stages Western Trade Show Western Swing Dances Friday and Saturday nights at 7:00 p.m. Antique Car Show Chili Cookoff The Mission The mission of the Arizona Cowboy Symposium Association is to perpetuate and preserve the heritage and values of the Old West and the...
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By Charlie Kentnor
(Keller Williams Southern Arizona)
When I let the dogs out this morning, there was a strong fall "breeze". I got to thinking whether or not this was some omen about our real estate market? I have been witnessing more buyer activity in our market which coincides with when I thought the market would be turning. Although I am sure I am right, (oh yeah!), I am still a bit reluctant to say that the good times in real estate are back with us. What I can say is that buyers better hurray up as it will be a seller's market shortly!
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By Charlie Kentnor
(Keller Williams Southern Arizona)
My own real estate buyer representation has picked up along with others in the Mountain Empire. It may be too soon to proclaim the downturn is over, but I'm inclined to think it is. I had forecast since the beginning of the year that the end of summer should be the end of our bear market here. I sincerely hope what I have been experiencing these past several weeks continues and we all enjoy a more normal market. With 80 homes for sale, or about a two year supply, I don't envision any short term price increases. What is surprising, of late, is the interest in raw land. I can't really explain that except for the paucity of buyers over the past two years. Pent up demand and perhaps a recognition of the market bottom is bringing about the change. Owners willing to carry back is also helping.
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By Charlie Kentnor
(Keller Williams Southern Arizona)
In case your missed the NAR news release on existing home sales, here's a quick link.   http://ow.ly/nZSz   I have been predicting (guessing?) that the market was going to turn sometime this summer. This is just one futher indication.
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By Charlie Kentnor
(Keller Williams Southern Arizona)
Looking back over the past couple of weeks, it is evident that there are more lookers in my market. I have had multiple showings of my listings the past two weeks and even have someone coming back a second time tomorrow to one of my listings. I certainly hope this isn't a momentary blip. What's happening where you are?
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By Charlie Kentnor
(Keller Williams Southern Arizona)
I have just initiated a new blog in order to reach as many of my friends, customers and clients to keep them appraised of what's happening in my area.    The good news is: There are some escrows happening! I'm hopeful that my original forecast of the bottom happening this summer will become a reality. It sure seems that way right now.    I want to bring to everyone's attention a great new event for our Mountain Empire: The Mountain Empire Rotary Club is orchestrating a weekend of events centered around the vineyards of Elgin. Please visit the event website, www.mountainempirewinanddine.com, for more information.    
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Sonoita Arizona is home to rolling grasslands and some of the most panaramic views you'll see anywhere. Sonoita, Arizona has lots of fun things to do. from the backroading in Jeep Trails and on Forest Service roads, or on old mining roads take you into the back country for a glimpse of spectacular scenery and of the many ghost towns. Peace and Serenity are everywhere to be found here in this high desert community. But one of the best kept secrets in Sonoita, Arizona is the amazing Sonoita Vineyards. Sonoita is in Santa Cruz County, in the Nogales metro area, about 50 miles southeast from Tucson.Arizona's warm days and cool nights have proven ideal for wine-making. If you love wine and have made a trip to Napa Valley, well this is nothing like that however the wine is incredible. Some ha...
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