So - is it a good time to buy a home in Tucson? Rip Van Winkle took another nap...for 5 years...see what he found out!
Things have changed dramatically in the Tucson Real Estate Market in the past five years. Prices have come down considerably, and - get this - interest rates are incredibly low.
The past several years have seen artificially inflated highs, so inflated that the economy of the United States suffered a severe downturn when the "bubble" burst in the Sand States of Arizona, Nevada, California and Florida. This was a serious contributing factor to the near meltdown on Wall Street - and affecting economies worldwide.
The speculators and "quick buck" artists of the go-go 00's are gone, with first-time homebuyers, people looking for 2nd homes and smart investors finding value in today's no nonsense real estate market. The days of "picking up a couple of homes for an easy flip" are over, and common sense has come back to the table, at least in the Tucson market.
The average homebuyer can now buy a good home at a good price, with a loan that has a historically good interest rates. Many "crystal balls" turned out to be cracked & made of cheap plastic in the "oh-oh 00's" but I have a feeling that several years down the road, the market we are in right now will be looked at as one of the best times to buy in a long time.
If you find something of value here, please feel free to share or forward this to your friends and colleagues. To learn more about Tom Heath & mortgages in Tucson, click here. To search for properties available in the Tucson real estate market, click here. To learn more about people & places in the Tucson area, visit our website, THE Tucson Real Estate Show.
Special thanks goes out to Barry Habib for his inspiration in making this video. The location we used is in the University of Arizona BioSciences Park, now under construction.
Specializing in Buyer & Seller Representation in the Tucson, Arizona real estate market.
All original material written by Kent Simpson unless attributed to source.©2012,2011, 2010, 2009,2008,2007
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