| Dear Friends,
Happy New Year to all! I hope 2025 is off to an excellent start for you and your loved ones. As we begin this new chapter, I want to take a moment to acknowledge the challenges many are facing. The devastating fires in Los Angeles have profoundly impacted our friends, colleagues, and communities, and my thoughts are with everyone affected during this difficult time.
In this month's newsletter, I'll share the latest happenings in real estate. You'll find December market statistics, updates on my recent listings and sales, and valuable tips on generating income from your real estate investments.
As always, please feel free to reach out if you have any questions about your home, neighborhood, or the market. I'm here to help and would love to connect with you.
New Listings - 1,183
Closed Sales - 962
Average Days on Market Until Sale - 52
Median Sales Price - $363,000
Average Sales Price - $432,738
Total # of Active Listings - 4,083
Average Months of Supply - 4.24
Inventory has steadily increased since June 2024. We are now in a more balanced market, and sellers are agreeing to concessions to help buyers offset the impact of higher interest rates.
Coming Soon in the Foothills
6217 N Pascola Circle 85718
A three-bedroom, two-bath townhome with 1800 sqft and a two-car garage features an updated kitchen, baths, and newer flooring, making it move-in-ready. Kachina Hills is a gated neighborhood with entrances off Swan and Pontatoc. The HOA maintains a community pool, spa, and the streets. It is close to all major conveniences and a low-maintenance home.
The photos and property website will be available on 01/16/25. We are still discussing the best listing price. Please call me for more details.
Active Listing
508 W 17th Street 85701
3 Bedrooms/2 Baths, 1413 sqft, secure off-street parking
Nestled in historic Barrio Viejo, discover this charming five-room adobe home with original wood flooring, scored concrete floors, and two updated bathrooms. Cash-only offers are being accepted at this home.
We recently discovered foundation issues in the historic section of the home. After determining the best price for this type of property, the current price of $399,000 will be reduced.
Pending Sales
8236 E Crooked Tree Trail 85715
4 Bedrooms/2 Baths, 2236 sqft, 2-car garage
This move-in ready home shows pride of ownership, featuring high ceilings, an open floor plan, a spacious yard with a block wall, real grass, and a desirable cul-de-sac location.
Listing Price $485,000 - Sold in 7 days and scheduled to close escrow on 01/13/25.
3884 E Calle Cayo 85718
3 Bedrooms/3 Baths, 3273 sqft, 2-car garage
From this updated home, enjoy stunning views of the La Paloma golf course, the city lights, sunsets, and all mountain ranges.
Listing price $1,075,000 - Sold in 31 days and scheduled to close escrow on 01/15/25.
3221 N Riverbend Place 85750
4 Bedrooms/3.5 Baths, 2700 sqft, 2-car garage
This property offers endless riding options, situated on a one-acre cul-de-sac lot with access to the Rillito River wash. It has been updated throughout and has pristine desert landscaping completed by a master gardener. Horse facilities include a round pen, arena, and tack room. It is a rare find in the Foothills.
Listing Price $850,000 - Sold in 4 days and scheduled to close on 02/01/25.
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| | Surprising Ways Your Home Can Generate Passive Income | | Your home isn't just where you live – it’s a potential source of passive income that can boost your finances. Here are some creative ways to make your property work for you:
Rent Out Extra Space
- Unused Rooms or Basement: Rent extra rooms or a finished basement. Platforms like Airbnb or Vrbo make short-term rentals easy and flexible, while long-term leases provide consistent income.
- Garage or Storage Space: An underutilized garage or shed can be rented for storage. Services like Neighbor.com connect you with people seeking space for vehicles or belongings.
Leverage Your Yard
- Parking Space: Renting out your driveway can generate steady income if you live near a city or event venue. Websites like Spacer.com simplify the process.
- Gardening and Farming: Rent part of your yard for community gardens, urban farming, or beekeeping projects.
Solar Energy Income
If you’ve installed solar panels, you may be able to lease unused roof space to energy companies or sell excess energy back to the grid. Check with local energy providers to see what programs are available.
Film or Photo Shoots
Your home’s unique charm could be the perfect backdrop for commercials, TV shows, or photo shoots. Platforms like Giggster or Set Scouter connect homeowners with production companies seeking spaces.
Host Home-Based Services
- Event Hosting: Use your backyard, deck, or dining area for private events like parties or workshops. Peerspace is like AirBnb for event space rental and a good option to consider.
- Workspaces: Turn a spare room into a coworking office or podcast studio to meet demand from remote professionals.
Participate in the Sharing Economy
- Equipment Rentals: Rent out rarely used tools or appliances through apps like Fat Llama.
- Vehicle Sharing: Use platforms like Turo to rent out your car, RV, or bike when not in use.
Host Renewable Energy Infrastructure
Depending on your location, companies may pay to install cell towers, 5G equipment, or wind turbines on your property – long-term agreements that can yield steady income.
While these ideas can generate extra cash, they also come with responsibilities like maintenance and compliance with local laws. Here are a few tips to get started:- Research Local Rules: Some HOA or zoning regulations may restrict these activities.
- Budget for Upkeep: Maintenance is key, especially for rentals or equipment.
- Start Small: Test one option before expanding your income streams.
With the right plan, your home can become an even more valuable asset, generating income with minimal effort.
If you or anyone you know is considering a move in 2025, let's connect and explore the best real estate options. I want to help you reach your real estate goals!
Sincerely,
Mary Tosca
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