GreenTucson August 2019
“A friend gathers all the pieces and gives them back in the right order." – Toni Morrison
Trade wars, actions by the Federal Reserve and a roller coaster stock market have all left investors uneasy. The Realtor® Code of Ethics opens with “Under all is the land. Upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization”. Yes, we have certainly seen real estate “bubbles” but in recovery we have learned that there is intrinsic value in the land over the longer term. Your home should be purchased primarily as your wonderful sanctuary. Check with your financial advisor about the value of your home investment as part of your portfolio.
The Bureau of Labor Statistics stated that employment rose by 164,000 in July, and the unemployment rate was unchanged at 3.7%, the 17th consecutive month for an unemployment rate at or below 4%. Job gains averaged 140,000 per month over the past three months. The year-over-year increases in inflation, from 1.4% and 1.6%, are still well below the Fed’s 2% target. Dr. David Kelly, the Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management, reported: “The Federal Reserve cut its target range for the federal funds rate by 25bps to 2.00%-2.25% at its July meeting, and will end its balance sheet reduction two months early. The rationale for the cut was slowing global growth and low U.S. inflation. However, Chair Powell explained the rate move as a “mid-cycle adjustment” rather than the beginning of a longer rate cutting cycle, striking a more hawkish tone than its dovish action. We expect at least one, possibly two more cuts this year, but anticipate the Fed may be challenged to stop there”.
In our own Fair City, check out:
Cool Summer Nights at Arizona-Sonora Desert Museum
Bear Down Arizona Wildcats 2019 Football Schedule
Saguaro National Park
Old Tucson Studios
Historic Tucson Presidio District
Here is the link:Tucson/ Southern Arizona Mid Year Market Report.
The trend of low inventory of homes for sale continued through the first half of 2019. This shortage of listings has made it a bit more of a challenge for buyers to find a home to purchase (I love a good challenge). This under supply relative to demand has resulted in a slight slowdown in home sales, and put upward pressure on home prices. Buyers, however, have increased purchasing power with historically low interest rates.
Check out details for more specific parts of Tucson: North, Central, Northeast, Northwest, West, and Tucson Luxury as well as data for additional areas at: Housing Reports. As always, contact me for specifics as they apply to your home and your neighborhood or for information about intriguing homes on or about to come available. Get notified automatically when new properties meeting your criteria get on the market. Click on my Search page at www.GreenTucson.com. On the upper right hit “Join” and Register for Your Free Account.
If you are curious about the value of your home in today’s market and wondering if now is a good time to list, Click: What’s My Home Worth? Scroll down and enter your address and you’ll get 3 instant, automated estimates of your home’s current value. Contact me to set an appointment to see your home. I can then share with you a full and complete evaluation and we can create a strategy to get you top dollar for your real estate investment.
Click My Mobile App for great new features. Now search neighborhood lifestyle points of interest for each property, view properties using an integrated satellite with driving directions and Google street view. Searching has been made easier with updated “For Sale” map icons to help differentiate new listings and price changes. With Commute Time searching, you can enter any address, specify how long a commute you want and typical time of day. Download or update my app and start your search!