With most of the action happening on the lower end of the market in Tucson - the luxury market is still in a slump.
This fact leads to opportunities for buyers looking to take advantage of their strong position and pick up the home of their dreams or make an investment in resort property.
Luxury homes make up about 25% of the active listings in the Tucson MLS today - but only 5% of the sales this summer. Foreclosures are part of the resort home market, too. Smart real estate buyers are looking at the power they have in the marketplace to buy luxury homes while the prices and interest rates are low. They are getting the home they always wanted at a huge discount.
Not every foreclosure is a bargain, nor is every bargain a foreclosed home - but one of these is discounted a cool $1 million from its original price.
A big key to making a wise decision when purchasing a golf course home, resort property or investment at any level is strong, thorough analysis of the market conditions. That is my strength. Your heart will tell you the rest.
Joseph Kennedy once said: "when I heard my shoeshine boy giving stock tips, I knew it was time to get out of the market." Whether you like the man or not - he knew markets.
Hear any real estate tips from the convenience store clerk lately?