July 8th, 2012 This time of year as the temperatures rise many Tucsonans are looking for an escape from the heat. One ideal spot for a quick dinner getaway is to travel up to the Oracle Inn in the town of Oracle, AZ. Located just 30 minutes northeast of Oro Valley this quiet town sits at an elevation of about 5,000 feet, giving some respite to the summer heat in town. Even the drive up state route 77 (Oracle Rd.) is relaxing as you escape the confines of town and get more into the surrounding wilderness. You’ll also pass the Biosphere 2 tourist attraction on the way, so it’s also possible to plan an earlier excursion to view this unique habitat.
Particularly enjoyable are the evenings in Oracle which makes the outdoor dining experience exceptionally pleasant at the Oracle Inn. Primarily a steakhouse, the Oracle Inn does offer a good assortment of food choices and multiple dining environments. The establishment is split into an outdoor area, restaurant, and a lively. In fact the bar will often have live music on weekends or other entertainment such as comedy shows from Laffs. They’ll also host parties or other events too for those interested. The Oracle Inn has built a solid reputation for its food quality and the rack of ribs is particularly tasty. Another notable item is the lemonade served at the restaurant, which is among the best that you’ll find around.
So when the summer heat gets to be a bit too much and you’re looking for a change of pace, head up to the Oracle Inn for a bite to eat or evening of entertainment. You’ll enjoy the drive, food, drinks, and personable environment. For more information about the Oracle Inn click on the link below to be taken to their website which also has information about the town and its history.
Oracle Inn Steakhouse
305 East American Avenue
Oracle, AZ 85623
Phone: (520) 896-3333
July 2nd, 2012 It should come as little surprise that Tucson was recently among 13 cities ranked by Forbes.com as the “Best Places to Retire in 2012”. Among the benefits pointed out for Tucson were its low cost of living (including affordable housing), low taxes, great weather, numerous doctors, and activities available to live an active retirement. Tucson often shows up on similar lists like this and with the influx of residents that we continue to see it’s really not too surprising but certainly a welcome distinction. A continuing stream of seasonal and retirement homebuyers will bolster Tucson’s economy. Articles such as this will continue to make sure Tucson is on the radar of those looking for an affordable place to live heading into retirement.
June 29th, 2012 Each year Harvard University’s Joint Center for Housing Studies releases a report on the state of the nation’s housing from their research and viewpoint. This year’s edition points to increasingly strong fundamentals that have the housing market poised for a significant recovery this year. Some markets are already seeing this impact. The primary area that continues to restrain the recovery though is job growth. The relatively tepid job growth continues to make people cautious about new purchases of homes. The continued rate of foreclosures and other distressed properties was also pointed to as hampering substantial recovery in prices. However, reports such as this continue to be optimistic about a gradual recovery of the broad market and certain communities are certainly already seeing an uptick.
June 14th, 2012 An independent national nonprofit group call the Leapfrog Group recently announced it was awarding Oro Valley Hospital its highest score of an A for its safety record. This “Hospital Safety Score” ranges just like an academic report card from A – F and is built upon 26 measures of publicly available data regarding patient injuries, infections, and medical and medication errors. It’s a great achievement for the hospital and goes to show how thriving this community is to have drawn such a great staff of medical professionals to deliver this kind of upscale patient care. Oro Valley Hospital was the only Tucson region hospital to receive this highest grade. Only Carondelet St. Mary’s Hospital even received a B, as University Medical Center, Tucson Medical Center, and Carondelet St. Joseph’s Hospital all received C’s. Congratulations to Oro Valley Hospital for achieving this noteworthy distinction.
June 11th, 2012 It’s becoming commonplace to see interest rates hitting record lows and this past week was no different. Freddie Mac’s release indicates that the average 30-year fixed rate mortgage was just 3.67% last week with 0.7 points down from 3.75% the week prior. A year ago at this time the rate was 4.49% which is still a great rate, so it’s amazing that we’ve come down to these levels. Much of this decrease continues to be fueled by some of the turmoil in Greece & Europe that has investors dumping money into the safe haven of bonds. The yield on bonds has a pretty direct relationship on interest rates and therefore we see continued record rates.
However, this trend will reverse and any buyer who wants to buy and can comfortably afford to purchase shouldn’t hesitate. Acting now on a purchase if you’re financing will definitely save not only on monthly costs but also substantially on the amount paid during the life of the loan. If you’re interested now is the time!
June 8th, 2012 The Tucson Association of REALTORS has just released the statistics for the month of May and overall the market continues to show strength. Most notably the number of Active Listings continues to drop and at month’s end totaled 3,544 homes compared with 3,770 homes in April and 5,795 a year ago. This continued decreasing supply will help bolster pricing with the demand still remaining pretty strong. In fact the total number of homes sold in May increased from 1,276 in April to 1,318 in May. Also showing an increase, for the fifth straight month, was the Median Sales Price. That figure sits at $140,000 which is up from $134,000 in April and $127,000 a year ago. About the only number that did take a very slight dip was the average sales price which fell only 1.01% to $173,987.
Looking forward the summer months may slow down slightly which wouldn’t be uncommon for the area given the seasonal demand in the fall and winter months from outside visitors. This sign of summer adjustment is reflected in the statistics by a decrease in Total Under Contract from 3,319 to 2,864. We’d foresee this as a seasonal adjustment at this time and will in the coming months likely mean a dip in the overall volume, unless the lack of supply continues to spark increased prices. However, foreclosure filings have been rising again after the banks recent settlement over fraudulent foreclosure proceedings and we’d forecast this will reign in price increases from being exceptionally high.
Overall the outlook remains exceptionally positive and there will be some up and down statistics in all likelihood moving forward which we’d expect in a slower recovery.
June 1st, 2012 After a quick trip to San Diego we’re refreshed and ready to keep this positive momentum going that’s here in the market! It’s always nice to take a break and let the kids enjoy some time running us ragged through a theme park. It certainly does make us appreciate how nice and peaceful the Oro Valley area is though. While the weather this time of year is spectacular in San Diego the traffic and constant activity is something that isn’t as attractive. Our area at times feels like a permanent vacation with the laid back lifestyle and relaxed pace. This summer is shaping up to be hotter than it’s been in awhile…both in temperature and in the real estate market. Contact us today if you’re interested in buying a home or would like a free market analysis of what your home would sell for today. Enjoy your own vacations & we look forward to more Oro Valley fun for awhile!
May 27th, 2012 There seems to be a plethora of positive news being reported recently about the much needed recovery of the housing market. One of the more positive notes is the slight resurgence of the new home industry. Typially new home sales suffer with excessive inventory, so the reports of a 3.3% increase in new home sales from March to April was welcome news. Another positive note reported was a slight increase in average sales price as well for these new homes. When buyers return to the new home communities it also has a greater economic impact as well, helping to employ more workers.
Naysayers still run rampant among the general popoulation and perhaps the recovery is being overstated at times by those grasping for good news. However, there are now too many good signs to ignore that if nothing else the housing market appears in most regions headed for stabilization and perhaps some growth again. The feared shadow inventory and double-dip recession have yet to materialize. Being a contrarian to pervasive thought is commonly a recipe for success and this again looks to be a case of those who were burned before missing out on a potential opportunity. If nothing else these individuals who proclaim renting is by far the best way to go will make their landlords happy for some time to come.
May 18th, 2012 It seems recently each new week brings along with it a record low interest rate on 30-year fixed rate loans. Freddie Mac reported that another record was set this week with the avearage 30-year FRM at 3.79% down from last week’s record of 3.83% Both week’s rates came along with an average 0.7 points for the loan. Also setting a new low was the 15-year fixed rate mortgage which decreased to 3.04% down from last week’s 3.05%. Also included in the release was that average one-year adjustable rate mortgages stood at 2.78%. These extremely low rates continue to make affordable housing conditions even more affordable for those looking to buy.
May 16th, 2012 Any addition to the local restaurant scene is welcome and Sahuaro Cafe is a pleasant, casual diner that will please patrons hopefully for a long time to come. Located in the Safeway shopping plaza on the northeast side of Tangerine & 1st Ave/Rancho Vistoso Blvd., this eatery is best known for its breakfast fare although they do have a lunch menu as well. The atmosphere is upbeat and the decor is nice but nothing too different than what you’d expect for a strip mall location. Well reviewed on sites like Yelp and Urbanspoon, the food and service are good without being spectacular. However, the prices are reasonable and certainly the location for Rancho Vistoso residents and other surrounding communities will make this a popular destination. If you haven’t visited yet, we’d encourage you to support this local business and you’ll very likely enjoy your meal at the Sahuaro Cafe.
Sahuaro Cafe
12142 Rancho Vistoso Blvd
Oro Valley, AZ 85755
520.297.3258
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