“Wise men speak because they have something to say; Fools because they have to say something.” – Plato
GreenTucson March, 2018
At the Tucson Festival of Books , you can meet Borgman and Scott who created “Zits”, which was added to the Star’s comic pages in 1998. We kinda believed that they had modeled Jeremy on our older son! The festival includes humorists and historians.Speaking of that former teenager, our son’s in-laws, here from Shanghai, hosted our families at Jun Dynasty for a Chinese New Year feast. We have all been to many restaurants in China, some very high-end, so we are a bit spoiled. This one was deemed ‘authentic’, and the dishes were varied and really quite good. We had them join us at Ventana’s Canyon Café for Sunday Brunch. Visit Tucson notes, “For the third consecutive year, Canyon Resort has been named as one of The 100 Best Brunch Restaurants in America by OpenTable.” They have live music and incredible food. You cannot help but overindulge; I recommend working off a few calories with the lovely, easy walk up the resort’s desert path to the waterfall before you leave.
The Dow has certainly been a roller coaster ride, seeming to respond dramatically to news on a daily basis. The Bureau of Labor Statistics reported that 313,000 new jobs were added in February. The Washington Post reported, “Gains of more than 300,000 jobs happen fairly regularly, but the last time the country saw such a large gain while unemployment was so low — the rate remained at 4.1 percent for the fifth straight month — was during the economic boom of the 1990s.” Barrons quoted Brad McMillan, chief investment officer for Commonwealth Financial Network, that "from an economic and market standpoint, the news is about as good as it can get. Business and consumer confidence are high, interest rates are rising… Throw on top of that Cohn's sudden resignation--and the tariffs it signals--and you might have a problem... By making sudden changes in the status quo, markets could be forced to adjust quickly, which tends to be much sharper.” Market Watch reported, “The U.S. dollar held gains against most of its rivals Thursday, after President Donald Trump formally announced tariffs on steel and aluminum imports. U.S. trade partners Canada and Mexico will be exempted from the levies for now, leading their currencies to strengthen.” Kiplinger reports: “Inflation is growing, but at a moderate, not runaway, pace… The Fed raised rates by a quarter-point this month and is expected to impose three more hikes in 2018. If inflation keeps exerting more pressure, central bankers could also raise rates in September to go along with likely hikes in March, June and December. But we don’t think they will because we expect inflation to stabilize this year.” We will see how this all plays out.
Multiple Listing Service of Southern Arizona in its MLS 2017 Year End Review reports, “2017 proved to be a great year for the Tucson housing market with the highest Total Sales Volume in the last ten years.” At this writing, in the North, Zip Code 85718, there are currently 193 homes for sale with a median listed price of $699,900; for the 451 sales, the median price was $487,000. For these North homes $800,000 or higher, there are currently 76 for sale with a median listed price of $1,270,000 and 70 sold for a median price of $1,075,000. If we look Central at Sam Hughes, we see a median price for active listings of $411,450 and a median sales price of $361,250. If we narrow Sam Hughes sales to $400,000 or higher, there are currently 9 homes for sale with a median listed price of $495,000 and for the 31 homes sold, the median price was $516,000 (there were 9 sales from $650,000 to $1,395,000). Just give me a call at 520-349-3688 and I would be happy to review the stats for your own neighborhood.