foreclosures: Are HUD "Fairness" Policies Driving Prices Down In Some Markets? - 02/24/12 10:10 AM
HUD could be causing prices to tumble further as an unintended consequence of its attempts to be fair in assigning properties to listing agents in some communities. 
While a particular community may be geographically close to another city, that city may belong to an MLS system that doesn't really serve the market area that the community belongs to.  Case in point:  Red Rock, Arizona. 
Red Rock is a master-planned community north of Tucson by about 30 minutes.  It really is a bedroom community for the Tucson region.  Residents shop in Marana & Oro Valley in the NW sector of the Tucson … (4 comments)

foreclosures: "Can I Put In A Really Low Offer On This House?" - 07/19/11 11:07 PM
Buyers often ask me "Can I put in a really low offer on this house?"  The short, simple answer to that is that anyone can offer whatever they wish on a property.  What really matters is if the offer will be looked at...and even considered.  A few times I've had clients who really, really liked a particular home, but ended up heartbroken because, in their attempt to "get a steal" because "it's a buyer's market," they either poisoned the seller against them or wasted time in a competitive foreclosure market by offering w-a-a-y below asking price.
Lets take a look at … (16 comments)

foreclosures: Bargains On The Links: Foreclosures on Tucson Golf Homes - 08/13/09 11:50 PM
With most of the action happening on the lower end of the market in Tucson - the luxury market is still in a slump.This fact leads to opportunities for buyers looking to take advantage of their strong position and pick up the home of their dreams or make an investment in resort property.
(5 comments)

foreclosures: Psst...Hey Buddy...C'mere - 03/12/09 03:13 AM

 
On Tuesday, Citibank announced that they had made an $8 billion profit last quarter...after rattling their tin cups all over Capitol Hill looking for handouts (and receiving them).  Two weeks previously (or maybe before, I'm just speaking from personal experience here), their REO department and associated asset management fronts quit delivering deeds to escrow companies and going incommunicado with their listing agents & escrow officers...with no notice.
Hundreds, thousands...perhaps tens of thousands of qualified, ready & willing buyers were left stranded at the closing table, waiting for seller signatures that would come "whenever."  Some were given an excuse that … (12 comments)

foreclosures: Foreclosure Bus Tour: More Publicity - 03/08/08 09:09 AM
The Pepper Group's Foreclosure Bus Tour, showing Tucson real estate foreclosures to investors & bargain hunters, continues to capture press attention:  AZ Daily Star  
Gary, Rob, Todd and Paula have all been working hard and diligently to put the next one together, because of the interest this has generated.  I'll update you on their efforts and success reports from the first one!
                                                                       
Should you have any clients looking for investment opportunities, consider Tucson:  get on the bus, Gus!
 
         Kent Simpson … (3 comments)

foreclosures: Foreclosure Bus Tour Update: The First Tour - 03/02/08 07:58 PM
Well, bargain hunters...the first Pepper Group Foreclosure Bus Tour was a resounding success!Filled with a wide variety of people, the maiden cruise had good reviews from attendees.  A wide variety of locals looking for a good deal on an investment property, folks from out of state interested in relocating to savvy investors interested in multiple properties and all sorts of interested parties enjoyed the 4-hour tour.
Besides the investors, the media also joined up, including KOLD Channel 13 News, who featured it on their 10 o'clock broadcast Saturday night.  Gary Andros, Rob Curcio and Todd Greene are already hard at work preparing the next … (5 comments)

foreclosures: If There's A Recession On---Why Are There So Many Cash Buyers Right Now? - 02/23/08 10:06 AM
Driving to the office the other day, bored with the usual morning chatterboxes, I was surfing the old radio dial when I ran across a local guy talking with great vehemence about the "economic idiots" spewing doom & gloom at every opportunity.
He went on to castigate expert after expert, refuting their findings without a whole lot of supporting evidence to back up his alternate opinion...until the callers started chiming in. 
Call after call was a business owner or manager talking about how business wasn't booming, but was steady and strong.  I was beginning to think that he had stacked the … (50 comments)

 

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