Tucson Real Estate Market Update!

Video Transcription

Karl Krentzel: Hey everybody, it’s Karl Krentzel from Karl Buys Houses. Just wanted to check in with you today and give you a quick market update, as well as show you a couple of properties that I’m trying to check out today.

Let’s go ahead and take a look at the hot sheet for today from the Tucson Multiple Listing Service. As you can see, there were 136 brand new listings put on the multiple listing service, and as you can see today is December the 16th. With 136 brand new listings being put on the multiple listing service within the last 24 hours, and you can see that there were 120 other properties that received contracts. This is fabulous news, because as you can clearly see, 119 properties actually closed within the last 24 hours. That means 119 families closed and got their property that they were looking to buy, and 119 families closed and got the money that they were looking to sell. The market is going very, very strong.

As you can see right now the list price, the sales price ratio, people are getting 97% of the asking price. On average, it’s taking 46 and a half days for them to go ahead and get their property under contract, and then it’s going to take another 30 days or so to close. If nobody else put their property on the market today, it’d be about three months worth of inventory on the market.

Let’s just go ahead and take a quick look and see what we can find on the Tucson multiple listing service for investment property, because as you know, I’m always looking for properties to invest in, and unfortunately many times the multiple listing service, you won’t find too many properties for people like me, but occasionally you will. I’m going to go ahead and just show you what I kind of look for.

Let’s just go ahead and see what’s available here in the Tucson area. Let’s say under $175,000, let’s see, that is a three bedroom or better, that has at least, we won’t even worry about the baths. We won’t worry about the square feet. Let’s go to the dwelling type. Let’s make sure that single family residences. Okay. Now here’s the key, right. As you can see, there’s a bunch.

What we’re going to do is we’re going to take this little radius search, we’re going to make that eight miles within Tucson, so we can kind of see what’s going on there, and then we’ll narrow it down from there, it says it’s 81 right. Let’s see. Let’s go ahead and add fix up to this, right. Here we go. A fix up. Here we go. Special conditions, fix up. Let’s see. And fix up 66 of them require fix up it says, Oh, 15. 15 require fix up. Okay, good. Let’s take a look. That’s a little bit more manageable. 15 properties are fix ups.

Okay, let’s take a look and see what we have on the multiple listing service. We have up to $175,000 all the way down to $59,000. Let’s take a look at this one over here for $59,000. 7018 San Fernando, over there in Rita Manor Terrace. It’s almost a thousand square feet for $59,000. It was a fire. Okay. Right on. Okay, well, let’s see if it was a fire property I’m definitely interested in that.

Let’s see, let’s take a look at this one here. What’s this? 28 West 28th street. 1,180 square feet, on the market for $99,900. Fix up property in South Tucson, needs work to make a good rental or for an investor. All right, I’ll take a look at that too. Boom. All right, let’s take another quick look. What’s this 115, 3634 East eighth street. 1,185 square feet for $115,000. A nice three bedroom, one bath. It’s a short sale. That’s not really what I’m into, but let’s take a look at these two right here. There’s two properties right there from the multiple listing service that I might have some interest in. I’ll do some work and take a look at these, but if you happen to know of anybody who’s looking to sell their property in the Tucson area, well then do me a favor. Give me a call. (520) 403-6227. I’d like to be able to help them as well. Thanks a lot.