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Trulia, Other/Just Looking in San Francisco, CA

What areas in Tucson are likely to appreciate in the next 5 years?

Asked by Trulia, San Francisco, CA Fri Mar 9, 2012

What potential local factors could contribute to this appreciation?

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The key statistics and my own experience indicates we will have appreciation in values throughout Tucson. Listings are down 51% from a year ago and a key Supply/Demand measurement, Months of Inventory, has been below 5 months since May of 2011. Historically, Months of Inventory of 5 months or less is a Seller's Market.

Prices lag behind market changes, whether they are going up or down. Even though the market statistics point to a decidely Seller's Market, Seller's are slow to increase prices.

Areas that will likely increase in value faster than others are where prices have been the most depressed. Newer homes also tend to appreciate faster than older homes.
2 votes Thank Flag Link Fri Mar 9, 2012
The areas near the University always hold value better
then the outlying parts of Tucson. That's why my investor
clients choose to purchase homes in the Central Core.
1 vote Thank Flag Link Thu Mar 15, 2012
Real Estate is like the stock market. The market dictates prices. NO ONE, absolutely NO ONE can predict accurately when prices will increase or what the future holds for home appreciation. If you are considering buying a home in Tucson, you should consult with a Tucson real estate agent and discuss your homebuying needs. It costs you nothing to do so and will save you time.
1 vote Thank Flag Link Fri Mar 9, 2012
This is an inappropriate question to ask, as we are still in a declining market. As a Realtor, you are asking questions we are NOT supposed to answer. So far you have asked questions like "Is this a good school"? "Is this a good area of town to live in?" and now this one?

If any Realtor or agent tells their client any house will appreciate in 5 yrs, in Tucson, AZ they would not be living up to their fiduciary duties, as they have no way of knowing. I am sure if you asked agents, Realtors this same question 6 years ago majority would have said yes. We have been declining since.
1 vote Thank Flag Link Fri Mar 9, 2012
I have many buyers at this time that are having a hard time finding a home. The inventory has shrunk tremendously in the past year and there are many multiple offer situations happening in all areas of Tucson. According to Forbes magazine, Tucson is the best place to buy homes at this time. There are many opportunities for appreciating Real Estate in Tucson. Find yourself a knowledgeable Realtor and discuss what your investing goals are. Please let me know If I can help.

0 votes Thank Flag Link Tue Jun 5, 2012
If you follow history then the answer is -------All of them. Our housing inventory has dropped 34% YOY and we are now in a "normal" market" . We are seeing multiple bids on most of the homes and prices are headed up because of supply. With mortgage rates low and prices adjusted down, what could be a better time to get in. But remember it is a home, not an investment like a stock. It can apprecaite or it can depreciate if not taken care of. It can provide income, tax breaks, but it is a home to live in not necessarily a "gold" investment. However, I see Realestate as a good place to put money in for the future.
0 votes Thank Flag Link Fri Mar 23, 2012
ALL OF THEM!! Tucson was the worst market in the nation as little as 4 months ago and is now one of the hottest. Our rock bottom was realized in Nov 2011, since then thousands of properties have gone off the market. We went from being number one in foreclosure in Feb 2011 to not even being in the top 50 currently. Appreciation has already occurred to the tune of 2-50% in some areas. The real question is where should you invest? Good question. Investing in real estate is a broad sphere of possibilities, all very complicated. Investing is based on a few things, capital to invest, risk tolerance, and time. If you are looking to flip you would localize your attention on areas with massive foreclosures, revitalization areas, ect. These areas typically are high risk high yield, but risk is somewhat negated now as our housing has become super deflated, but is reaching such a critical depletion, that prices are on the verge of going ballistic. If you are looking for low risk and more nominal returns and have time and capital to invest, then the areas that most people are recommending work as they are typically safe and secure investments. I know this city like the back of my hand, and I know this market like I wrote it in a book. If you want answers about investing just CALLMIKE.
0 votes Thank Flag Link Wed Mar 21, 2012
Unfortunately my crystal ball broke years ago. The truth is, this is not a question that a Realtor can answer truthfully. The real answer is buy a home in an area you like and that is conveinent for you and you family. It is a home, not an stock investment. Buy in as nice an area as you can afford, make it your home, and enjoy. Also, hire a licensed realtor so they can find the nicest home in the area you choose. Good Luck and let us know if we can help you.
0 votes Thank Flag Link Fri Mar 9, 2012
In order for me to answer that question I will have to consult my crystal ball, please hold..........dang still broken, isn’t technology great.

Seriously in my opinion just about anywhere in the Tucson area will have some appreciation over the next 5 years. Currently our average sales price is up from last year. Our average days on market are down. And our inventory is declining. This is a good sign that our market is starting to shift.

Short sales and REO properties still control the market however as those start to fade away our prices are naturally going to increase.
0 votes Thank Flag Link Fri Mar 9, 2012
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