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