Top 10 reasons to buy in Tucson!

By
Real Estate Sales Representative with Exit Realty 1st Choice

TOP 10 REASONS WHY NOW IS A GREAT TIME TO BUY REAL ESTATE IN TUCSON

TOP 10 REASONS WHY NOW IS A GREAT TIME TO PURCHASE REAL ESTATE IN TUCSON, ARIZONA

 1.      Per a recent economic forecast 7,000 baby boomers will retire and purchase real estate in Tucson in 2009.  This will add to the absorption of are already dropping supply of homes.

 2.      The Tucson market continues to stabilize as our active inventory levels continue to decline.  Most experts believe 6,000 active properties will result in a neutral market (neither a buyers or sellers market).  In 2008 Tucson's inventory levels have decreased every single month from 9,168 in January to 7,763 for August.

 3.      Interest rates remain at historic lows, 6.0% for conforming and 5.75% for FHA/VA (rates as of 9/26/2008).

4.      The average sales price is at the lowest level it has been since March 2005. 

5.      The new FHA guidelines will go into effect on January 1, 2009. Raising the down payment requirement to 3.5% from the current 3.0%. 

6.      Do you want a brand new home?  Home builders are offering outstanding incentives including pricing guarantees.  These deals won't last forever and as the market improves they will begin to disappear.

7.      Per ACCRA Tucson's cost of living remains below the national average.

8.      News is history.  If you wait until you hear the real estate market has hit bottom, then you already missed it.

9.      Looking to invest?  Foreclosure, short sales, and motivated seller's lead to outstanding buyer opportunities.

10.  Why not? :)

When you're ready to buy contact Richa Singh at (520)309-1936

 

 

Comments (1)

Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495

Richa,

Tucson is a great market right now.  I closed three purchase loans in the past four days!  Great to see you blogging.  Keep it up!

Mike in Tucson

Apr 15, 2009 03:12 AM