Southeast Tucson and Vail Arizona Real Estate Market Report: December 2008
Despite the decline in value across this zip code area, the home sales quantity is consistent with 2007. This is great news because the real numbers tell a different story than what the media has been saying for the last few months. In addition, mortgage markets have caused a drop in interest rates which has brought buyers back looking for a new home and the great deals that are available.
Sellers are not as bad off as everyone seems to think, especially if you're looking to replace your existing home with another home here in the Old Pueblo or anywhere for that matter. Think about it for a moment. Let's say you sell a home for $200,000 today that was worth $250,000 at the peak of the market. but you turn around a buy a larger, more desireable home for $290,000 that at the peak of the market was worth $360.000. Even if you're downsizing the same holds true, because your dollar is able to get more for less money. Unless you owe you're home free and clear, the only loss taken was on paper.
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The information above was written by Kevin Wood of Realty Executives. Kevin can be reached via email at Kwood@gotucson.com or 520.260.3123. Kevin has helped people move in and out of Tucson for nearly 4 years. In his previous career he represented Honda Automobile Corporation for 10 years and was among the top 5% of all sales consultants nationwide for customer satisfaction and and volume. Kevin's office is conveniently located on Kolb Road just south of Tanque Verde.
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