Patricia Paul Properties

Available mid-March:

Cute and colorful!  This lovely 3 bedroom, 2 bathroom home has 1,495 square feet of living space.  Bright, cheerful colors in living areas.  Nice open floor plan, formal living room plus family room.  Kitchen features gas stove, pantry, breakfast bar.  Ceiling fans, window coverings included.  Covered rear patio and enclosed back yard.  2-car garage.

Conveniently located near Kolb and Escalante.  Shopping, services, restaurants, and bus line nearby.  Close to DMAFB, Border Patrol, and other major employers.

Rent:  $1,100   *    Security Deposit:  $1,100

For more information, please contact:

Patricia Paul, GRI ** www.PatriciaPaulProperties.com ** (520) 548-2078

The number of applications for home loans and refinance loans reached a six-week high as interest rates slipped slightly lower.  Many buyers expect the rates to start rising in the spring of 2010, and want to complete their purchases before then.

Also driving some of the recent mortgage activity is the extended first-time homebuyers tax credit of up to $8,000, and a move-up tax credit of up to $6,500.  In order to qualify for these credits, home purchases must be under contract by April 30, 2010.

Buying a home still makes good sense now:  Mortgage interest rates are still at historic lows, home prices have fallen between 25-30% from the highs in 2005 and 2006, depending upon the location.  There is still a good amount of inventory out there to choose from. 

If you'd like to get pre-qualified for a mortgage, please contact me for a list of reputable, ethical lenders.  If you've been thinking about purchasing a home, please contact me for a free no-obligation consultation. 

If you've even been thinking about it, now is a great time to check it out!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

Well, today was a special day.  As some of you know, lampwork beadmaking is my latest hobby and passion.  For the last few weeks I have been putting together my own glass beadmaking studio at home. 

Today it all came together and I was able to turn on my torch and create my first bead in my home studio.  The torch uses a mix of propane and oxygen.  It was all very exciting!   Once you create a bead then is has to be fired in a kiln to anneal it.  I'll include some photos later, when the beads come out of the kiln.

And now.....  I've got some creating to do!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

           3 BR Near Pima & Swan                                 3 BR Near Midvale Park

                       $950/month                                                        $850/month

Both of these single family homes feature 3 bedrooms, 2 bathrooms, 2-car garages, central air conditioning, ceiling fans, window coverings, and other extras.  For more information, please click on the menu tab marked "Home Rentals".   Call today to see these great homes in person!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

 Stop by on Sunday January 31 from 1:00 - 4:00 for my Open House located at 10315 E. Cowhead Saddle Lane, near Broadway and Houghton.  This beautiful home in Barrio Rincon was built in 2004 and features 3 bedrooms and 2 bathrooms.

Directions:  From Broadway, take Houghton Road south to Cowhead Saddle Lane.  Go east to #10315.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

Have you been thinking about selling your Tucson home, but have been holding off because of the depressed real estate market?   It's true, the past couple of years have been a buyer's market, and it was fairly brutal to sellers.  Home values dropped significantly, yet sellers still had to do even more to stand out from the crowd of other homes for sale.

But the real estate market has been improving slowly over the past year, at the same time that the inventory has been shrinking.   The federal First-Time Homebuyers tax credit of up to $8,000 was extended for the 1st quarter or so of 2010, along with the program being expanded to offer a tax credit of up to $6,500 to qualifying existing homeowners who purchase a primary residence.  The tax credits have time deadlines; buyers must have their home purchase under contract by April 30, 2010, so they should start looking now.  This will create a larger pool of buyers out there in the first quarter of 2010 to make their qualifying purchase.   Now's the time to get in on the action!

Call me now for a free consultation.  We can discuss the value of your home, how to prepare it to put on the market, and potential marketing plans to get it sold.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

The very popular FHA insured home loans will be increasing some of their costs.  The first change will entail an increase to the up-front mortgage insurance premium paid at closing.  It is scheduled to increase to 2.25% of the loan amount in the spring. (It is currently at 1.75%).  So on a home loan of $100,000, the up-front fee would go from $1,750 to $2,250, or a $500 increase.  The FHA also intends to ask Congress to allow an increase in the annual premium (think higher monthly payments). 

The Agency will also be limiting the amount of sellers concessions allowed to apply to buyers closing costs.  Currently it can be up to 6% of the purchase price, but will be decreasing to a maximum of 3%.

Also, buyers with lower FICO credit scores may have to come up with larger down payments.  

These changes are being implemented to try to offset some of the losses the FHA has recently sustained.   The FHA (Federal Housing Authority) does not make the loans, they only insure them.  Currently more than 30% of home loans are FHA backed.  They are especially popular because they require far less down payment than conventional mortgages do.

What does this all mean?   If you are thinking about purchasing a home, the time to do it is now, before the changes.  And if you are thinking of selling a home, you might want to do that before costs increase for the buyers.  Their increased costs mean that much less is available to them for their purchase.

Please contact me if I can clarify any of this for you, or if you would like me to put you in touch with quality lenders.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078 

... And yesterday I did.  I had the pleasure of spending yesterday morning working with a crew on a home building project with Habitat for Humanity.   There are a total of 4 homes being built, near Craycroft and I-10.  My company, Long Realty Company, has long been a supporter of Habitat for Humanity.   I have volunteered and worked on builds in previous years, too. 

The homes are maybe half finished; they are framed out on the inside, and roofs are being installed now.   Yesterday I worked on installing the mesh corner reinforcing strips on all the outside edges, in preparation for the stucco application.  We also installed some "bump-outs" on the front exteriors.  It's very interesting to see how the homes are constructed. 

There were some really great people working along with me.  There were several volunteers who have been doing this for many years.  It's great to be able to give back to my community.  And being a REALTOR who makes a living selling homes, it is particularly rewarding to be able to help create housing for those in need.

Habitat for Humanity is a wonderful cause.  If you can volunteer either time or financial support to them, please contact them at www.habitattucson.org.

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

Open House Sunday,  January 3,   1 pm - 4 pm.  

Stop to see this great house for sale at 9861 E Spanish Flower Ct.     Built in 2003, the home features 3 bedrooms, 2 bathrooms, 1,583 square feet of living space, 2-car garage, and large permitted Arizona Room.  Vaulted ceilings, ceramic tile & new carpet, ceiling fans.  Close to shopping, services, restaurants, and bus line.

Priced at just $170,000; this one should  move fast!

Directions:  From 22nd St, take Old Spanish Trail southeast.  Follow the signs (turn west on Dakota Sky)

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078

The Federal Home Loan Mortgage Corporation, commonly known as Freddie Mac,  expects the interest rate for a 30-year fixed rate conventional mortgage to continue to increase.   This week's rate is averaging 5.05, but it is expected that before the end of 2010, and most likely sooner, the rates could climb to 6%.

 The higher interest rate will mean that if you are buying a home, the monthly payment for the same loan amount will be higher, or possibly you will not qualify for quite as large a loan amount.

There is still time to buy while rates are nice and low!  Let me help you!

Patricia Paul, GRI *** www.PatriciaPaulProperties.com *** (520) 548-2078