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The Perfect Storm

Arizona Monsoon Storm with Cactus Before the summer monsoons hit Tucson every year, Arizonans wait in anticipation. The humidity slightly rises, but so does the heat. It will usually it gets a little windy, and we get some scattered showers.

But we know that there are three things that must happen every year to officially welcome the Summer Monsoon Season. The humidity must rise, and be above 60% three days in a row. Temperatures must also rise as the heat drives in the clouds. And the winds from the south must bring up the clouds and storm. It's a beautiful science and it happens every year. Everything gears up, the conditions present themselves and we have ourselves "The Perfect Storm." Arizona gets tremendous amounts of rainfall that our desert so desperately needs, the frogs come croaking out of the ground, and the fresh smell of the desert is welcomed into our homes.

Just as we welcomed the summer monsoon season, we have just had that same scenario line up with the home buying experience here in Tucson, AZ.

The Federal Reserve cut interests rates one-half of a percent yesterday. While this helps cut the prime rate on credit cards and those loans tied to the prime, interest rates on home mortgages are still lower than average. Home prices are as much as 20% lower than a year ago and there's plenty of choice inventory to pick from. It is so very rare to have all three opportunities present themselves together, Tucson now has "The Perfect Storm" for home buyers. Along with these favorable reports, we also have local lenders offering tremendous deals and savings (that are legit!) that have been unheard of for years. If you would like to learn more about these programs, along with how you can find your perfect home, contact me, Lexa Montierth, at (520) 405-2857.

If you have been waiting for someone to say "This is the time to buy" here is your official notice. The best selection of inventory, along with the best interest rates and home prices. If you are wanting to buying a home in Tucson, the time has never been sweeter.

Curious about any of the information I posted here? I welcome your comments and questions, and would love to help you with your next real estate transaction. Feel free to visit my website at lexamontierth.com or call me at (520) 405-2857.

Posted by Lexa Montierth on 09/19/2007 09:10 PM

Comments (10)

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Post is included in group: Arizona Realtor Guide

10 Comments on The Perfect Storm

Lexa,

This is the Perfect Anology! The sky isn't falling, it's just raining opportunity. Now buyers have to make a choice to take advantage of it or wait for the next perfect storm.

09/19/2007 09:25 PM

by Susan Peters - Seattle Realtor/Staging Specialist (Re/Max Mutual Realty)

I loved your comment Susan. It IS raining opportunity. I wish I were a buyer right now!

Lexa

09/19/2007 10:49 PM

by Lexa Montierth (Currently Looking)

Lexa, very well put and a terrific anology. I spend a significant amount of time presenting seminars for Realtors regarding the many opportunities that are currently there and those that will be coming as a result of this market. Most are quite suprised that opportunity actually does exist. In my mind, this is the market that creates the millionaire Realtor.

The AZ Daily Star called me on Tuesday to get my perspective on the Fed cut and what the impact will be on the local housing market. We will see more inventory but we will also see more buyers for a few different reason. Tucson really, when compared to the national inventories, is a hot market.

Paul Dunn www.paul-dunn.net

09/20/2007 01:06 PM

by Paul Dunn - Tucson's #1 FHA Loan Expert (First Priority Financial)

Excellent Post! I am on my soap box here too. "Calling all Buyers" !

09/20/2007 01:11 PM

by Christine Bohn, ABR, e-Pro, GRI~Gainesville, FL Realtor® (RE/MAX Professionals, Inc.)

Perfect Post, Lexa! I rated you a big 5 on this one. We're in NJ, on Long Beach Island. I took a photo yesterday of the boat in the Barnegat Light commercial fishing fleet that was the star of the movie Perfect Storm!

Mike in Tucson (on vacation in Surf City, NJ)

09/21/2007 10:31 AM

by Mike Jones (Tucson Mortgage Company, LLC)

Calling all buyers! Yes. Now is the time to buy. But interest rates are up because of the cut, not down. And they are going to keep going up - -which is one big reason that now is the time.

09/21/2007 12:41 PM

by Ann Heitland, Associate Broker, CRS, GRI , ABR ~ Flagstaff Real Estate/Community (Team Heitland at RE/MAX Peak Properties)

Ann, I talked to favorite lender yesterday and she agreed. When the stock market rallies, the interest rates go up. But she said that they are still reasonable, from 6 1/4 - 6 3/8.....Which is lower by almost a half of percent then they were in Aug when my clients were working with her. I changed my blog to reflect the correct information. Thanks

Lexa

09/21/2007 01:02 PM

by Lexa Montierth (Currently Looking)

Thanks for commenting on my blog about the Iowa billboard. I'm back in Flagstaff and hitting the market!

09/25/2007 02:13 PM

by Ann Heitland, Associate Broker, CRS, GRI , ABR ~ Flagstaff Real Estate/Community (Team Heitland at RE/MAX Peak Properties)

Lexa...beautiful picture and the right message. This is true in my market, too. First time buyers and real estate investors are positioned well to buy right now and probably for the next 3 years or so. Thanks!

09/25/2007 04:00 PM

by Hemet Home Loan Guy, Joey Aszterbaum (Patrion Mortgage)

Lexa,

I haven't seen you on Active Rain for awhile. Come on back!

Mike in Tucson

11/02/2007 12:27 PM

by Mike Jones (Tucson Mortgage Company, LLC)

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