J, Home Seller in Tucson, AZ

When will the home values in rita ranch begin to increase?

Asked by J, Tucson, AZ Wed Feb 13, 2008

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Your best methodology for accurately determining when home values will begin to "increase" in ANY location in Arizona would begin at looking into the National and Global economy landscape. The fact of the matter is that nationwide, most areas have been hit by a "declining market" factor, that was largely due to the "over-exuberance" in the real estate markets of 2003 - 2005...at least here in "The Old Pueblo" and its surrounding communities.

All that said, it truly is anyone's guess exactly how long it will take for the pendulum to swing back completely in Tucson and in all areas, communities and subdivisions. I think it is safe to say that the market is moving better than it has been since the end of 2005, but as long as the inventory stays at its current levels, supply and demand will dictate that it could be as far out as 2 or more years. As in the case of any investment, hold your investment until it matures; 3 to 5 years is almost an industry standard in any investment. Long term, you will be just fine and you will see a solid Return On Investment (ROI) in an ever-growing Tucson Metropolis.

'Hope this helped!
0 votes Thank Flag Link Sun Feb 24, 2008
If anyone knew the answer to this question, they would be very sought after. The best forecast is not until 2010. Many say late 2008 but if uou analyze the current market and inventory levels as well as the average sales activity over the past 12 months, you will see that 2010 is a more realistic evaluation. In addition Rita Ranch along with many other areas in Tucson have been added to the declining market list by FNMA and FHLMC which means even buyers with great credit are required to have 5% down payment. There are still a few lenders that will do a 100% mortgage but they are fading fast. We still have the FHA Ameridream program for 1st time buyers where the seller can contribute 6% of the sales price to the seller for downpayment and closing costs.
0 votes Thank Flag Link Wed Feb 13, 2008
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