Jan 27 Legends event to honor real estate legacies of Amos, Kivel and Long families ... - Inside Tucson Business

It's now a "legendary" tradition. For the second year in a row, "Legends of Real Estate" will be honored by the Southern Arizona CCIM Chapter (Certified Commercial Investment Member).

To set the tone, the group has lined up two notable speakers: University of Arizona Athletic Director Greg Byrne and Tucson Metro Chamber CEO Mike Varney.

At the 21st Annual CCIM Forecast Feb. 16, CCIM will honor three real estate families whose legacies go back as far as 100 years.

"Our legends are the Amos, Long and Kivel families. Each is well-known in real estate circles and throughout the community," said Brandon Rodgers of Picor Commercial Real Estate, who is helping to organize the event.

The Amos family has been involved in Tucson Realty & Trust Company since 1911. The Long Company traces its roots back to 1926. And the Kivels are best known as the developers of legacy commercial retail projects including El Con and Park Place malls.

Representing the families will be brothers Hank and Phil Amos, Russell Long, and brothers Al and Foster Kivel. The ceremonies will be emceed by George Larsen of Larsen Baker, and Jim Marian of Chapman Lindsey.

Last year's inaugural legends were Don Diamond, Chuck Pettis, Sanders "Sonny" Solot, Roy Drachman and Bill Estes.

The forecast itself brings together 15 to 20 experts in all disciplines of commercial real estate to discuss their insights for 2012. This year's event takes place from 1 to 5 p.m., Feb. 16 at Loews Ventana Canyon, 7000 N. Resort Drive.

Costs vary and increase after Saturday (Jan. 28). The Tucson Association of Realtors is handling reservations. To register, email This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Coldwell Banker report

Sales price. Days on market. Inventory. New listings. After Coldwell Banker Residential Brokerage analyzed all the data, 2011 turned out to be just another year of mixed performance in the Tucson housing market.

In the city of Tucson, lower prices accelerated the pace of sales. Year-over-year, the median sales price dropped 11 percent to $116,325 at the end of 2011 from $131,000 in December 2010. Average prices fell 8 percent to $161,711 from $175,737.

The lower prices sparked a 13.8 percent year-over-year increase in sales. Closings for 2011 totaled 10,160 compared with 8,926 in 2010, according to Coldwell Banker. Faster sales also drove down inventory by one-third to 3,734 homes from 5,630 at end of 2010.

"The selling price per square foot is a great indicator for the direction of property values," said Malcolm MacEwen, president of Coldwell Banker, "Since median and average sales prices are impacted by a mix of high and low-end properties."

The December 2011 selling price in Tucson was $82 per square foot compared to $92 in December 2010. Marana dropped to $92 per square foot from $105 and Sahuarita went from $72 to $65.

In Marana, price performance was uneven. The median sales price increased 5 percent from $163,145 to $171,450 while the average sales price dropped 21.5 percent from $245,921 to $193,099. Sales increased slightly from 452 to 476 homes.

In the metro's southern region, 537 homes sold in Sahuarita, far ahead of the 2010 pace of 466. The average sales price was $122,512 at year-end compared to $147,854 in 2010. The median price was $115,000 compared to $141,000 in December 2010.

"I believe we have hit the bottom of the market. If not, we are very close, very little room for prices to decrease further," said housing analyst John Strobeck of Bright Future Business Consultants. "The next challenge for foreclosures will be to absorb the inventory out there and see if any of the financial institutions really do have shadow inventory that will be put on the market."

2,011 foreclosures

In the third quarter of 2011 there were 2,011 foreclosed homes sold in Pima County. That was about twice the pace of newly foreclosed homes that came on the market, according to RealtyTrac, an online marketplace for foreclosures.

The firm's U.S. Foreclosure Sales Report showed that lenders foreclosed on 901 homes during the quarter. In December, one out of 476 homes received a new foreclosure notice. Statewide, the ratio was one in 357 homes.

"Foreclosure sales continue to represent a historically high percentage of all sales," said RealtyTrac CEO Brandon Moore. In the third quarter, foreclosures accounted for 20 percent of all home sales nationwide. In 2005 and 2006, the level was less than 5 percent, he explained.

Nevada, California and Arizona continue to lead the nation with the highest percentages of distressed sales. In Nevada, 57 percent of all home sales were foreclosure-related; in California it was 44 percent and in Arizona it was 43 percent.

The percentage for Pima County was 41.4 percent, according to RealtyTrac.

Sales and leases

• PVB Fabrications leased 9,440 square feet at 2311 N. 14th Ave. from Raymond and Denise Sharp Revocable Trust, represented by Pat Welchert and Paul Hooker, Picor Commercial Real Estate Services. Dave Gallaher, Tucson Industrial Realty, represented the tenant.

• USA Pawn & Jewelry Co. leased 4,800 square feet at 1726 W. Ajo Way from Park View Plaza Inc. Terry Dahlstrom, Volk Company Commercial Real Estate, handled the transaction.

• Destiny Church International leased 2,375 square feet in Suite 21 at 4500 E. Speedway and Antigua Medical Services leased 2,134 square-feet in Suite 104 of the same complex from Presson Midway. Rob Glaser and Paul Hooker, Picor Commercial Real Estate Services, handled the transactions.

• Affordable Windows LLC leased 2,364 square feet at 3860 S. Palo Verde Road, Suite 310, from Palo Verde Trust Partners LLC. Rob Glaser and Paul Hooker, Picor, handled the transaction.

• Bank of Tucson leased 2,361 square feet at 4400 E. Broadway from 4400 Tower LLC, represented by Michael Gross, Tucson Realty & Trust. Bob Davis, Grubb & Ellis, represented the tenant.

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