Comments on: Tucson Market Beginning to Turn Around? http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/ Tucson Realtor discussing recent news and market data. Also provides Tucson MLS Search capability, market updates, and a free monthly e-newsletter. Tue, 05 Jan 2010 15:01:32 -0500 http://wordpress.org/?v=2.8 hourly 1 By: Michael Krotchie http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/comment-page-1/#comment-6905 Michael Krotchie Fri, 23 Jan 2009 15:10:55 +0000 http://www.michaelkrotchie.com/blog/?p=71#comment-6905 Richard, Great response. I think this year the market will finally receive the trickle down benefits of last year's efforts to stem the housing crisis. Here in Tucson I would say the market has definitely reacted to the lowered prices and rates, these next few months will be very telling. Richard,

Great response. I think this year the market will finally receive the trickle down benefits of last year’s efforts to stem the housing crisis.

Here in Tucson I would say the market has definitely reacted to the lowered prices and rates, these next few months will be very telling.

]]> By: Richard Stabile http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/comment-page-1/#comment-6897 Richard Stabile Fri, 23 Jan 2009 00:41:06 +0000 http://www.michaelkrotchie.com/blog/?p=71#comment-6897 That's great. I hope it picks up every where. If the fed keeps putting money into new mortgage paper with Fannies and Freddie, the money will eventually hit the market. So far it is only hitting in the conforming mortgages. I wrote about 10 weeks ago for the fed to borrow on long term treasury’s and put the money directly into new mortgages at low rates to get the market going. I also said they should provide investor financing to get the foreclosed homes bought and rented. Investor will bring a lot of capital to the market. All buyers must qualify under normal standards. My investigation also finds the heavily hit markets are reacting to the lower prices and lower rates and volume is picking up nicely. The banks can not get the money directly, they won’t lend or at least not at the rate and quantity we need. When a purchaser gets a mortgage, buys a property, the old mortgage gets paid off to the bank. The bank receives the money and the mortgage is retired. If the bank’s reserves we short to retire the mortgage that is another issue for their solvency. That’s great. I hope it picks up every where.
If the fed keeps putting money into new mortgage paper with Fannies and Freddie, the money will eventually hit the market. So far it is only hitting in the conforming mortgages. I wrote about 10 weeks ago for the fed to borrow on long term treasury’s and put the money directly into new mortgages at low rates to get the market going. I also said they should provide investor financing to get the foreclosed homes bought and rented. Investor will bring a lot of capital to the market. All buyers must qualify under normal standards.
My investigation also finds the heavily hit markets are reacting to the lower prices and lower rates and volume is picking up nicely.

The banks can not get the money directly, they won’t lend or at least not at the rate and quantity we need. When a purchaser gets a mortgage, buys a property, the old mortgage gets paid off to the bank. The bank receives the money and the mortgage is retired. If the bank’s reserves we short to retire the mortgage that is another issue for their solvency.

]]> By: Tucson Realtor - Michael Krotchie http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/comment-page-1/#comment-6680 Tucson Realtor - Michael Krotchie Sun, 04 Jan 2009 13:53:35 +0000 http://www.michaelkrotchie.com/blog/?p=71#comment-6680 Julie, Very good point regarding the lack of effort on the parts of some Realtors. To be honest a fair number of licensees have dropped out since the boom years a few years ago. The Tucson Association of Realtors' 2009 fees were just due so in a month or two I'll let you know how many agents did not renew for this year. Julie,

Very good point regarding the lack of effort on the parts of some Realtors. To be honest a fair number of licensees have dropped out since the boom years a few years ago. The Tucson Association of Realtors’ 2009 fees were just due so in a month or two I’ll let you know how many agents did not renew for this year.

]]> By: Julie http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/comment-page-1/#comment-6669 Julie Sat, 03 Jan 2009 09:30:54 +0000 http://www.michaelkrotchie.com/blog/?p=71#comment-6669 Realtors could help the situation by actually putting some effort into the listings. We use the internet to search for homes and the photos are just terrible. Come on guys!! This must be laziness left over from the boom years???? Realtors could help the situation by actually putting some effort into the listings. We use the internet to search for homes and the photos are just terrible. Come on guys!! This must be laziness left over from the boom years????

]]> By: Robert http://www.michaelkrotchie.com/tucson-market-beginning-to-turn-around/comment-page-1/#comment-6630 Robert Tue, 30 Dec 2008 17:38:08 +0000 http://www.michaelkrotchie.com/blog/?p=71#comment-6630 The article is completely spot on! I appreciate it! thanks for such a nice post. The article is completely spot on! I appreciate it! thanks for such a nice post.

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