Market Conditions in 85716>Question Details

Linda Winkel…, Home Seller in Tucson, AZ

Would it be a decent time to sell a 4 plex, in the 85716 zip code area?

Asked by Linda Winkelman, Tucson, AZ Wed Sep 5, 2007

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There are currently 11 4 plexes on the market in the zip code with a price range of 250,000-550,000. Average days on market is 100 days. There has been one sale in the zip for such property in the last six months. So, compared to the crqzy 2005 market, no it is not a good time to put it on the market. However, given the fact that we do not see price appreciation occurring until 2010 or even 2011, you may have more downside potential if you hold the property.
Bottom line, do you need to sell or can you hold till 2010 or later.
Also investors tend to enter the market more so towards the end of the year or just after the new year based upon their tax situation.
1 vote Thank Flag Link Wed Sep 5, 2007
If you are still interested in selling your property, I would like to discuss possibilities with you.
email me at
0 votes Thank Flag Link Wed Nov 3, 2010
Investors are business planning for 2008 and real estate is still a good investment. As long as interest rates continue to be low, there will be good cash flow. Why speculate on future trends of higher prices and higher interest rates? That spells less cash flow. I was chatting with investors a few days ago and they sound quite bullish in 85716 and they are both in the market. We were chatting on Country Club Road, and this pair of investors owns appoximately 10 properties between them and they are quite bullish! Same story I hear at Open Houses recently! (I live and work in this zip code.)
Web Reference:
0 votes Thank Flag Link Fri Dec 14, 2007
It's a great time to buy! As an investor you can do a 1031 exchange and trade up and your gain can be deferred. If you are trading up this will be advantageous in a buyers market. Talk with you tax advisor to determine your specific situation. Also, 4 plexes are in demand at this time. Good luck.
0 votes Thank Flag Link Wed Sep 5, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
If you have a lot of equity, and are considering an exchange, it might be worth considering selling. It's a good time to buy since inventory is high and sellers are motivated. If you have equity to pull out of that investment and can "trade up" you might find your loss on the sale more than offset by the savings on a purchase. The resulitng net gain could make it an attractive time to sell. Since you mention this is a 4plex, is it an investment property? Consider a 1031 excahnge if it is an investment.
0 votes Thank Flag Link Wed Sep 5, 2007
Deborah Madey, Real Estate Pro in Brick, NJ
Tucson is a buyers market, I think having a rental property now is a better Idea than having to sell a rental property. Work on reducing your expense, and keeping your vacancies down.
Now if you have to sell, that is a different question.
Good Luck
0 votes Thank Flag Link Wed Sep 5, 2007
Mr.P, Other/Just Looking in Arizona
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