Market Conditions in Tucson>Question Details

Cathy Porter…, Real Estate Pro in Tucson, AZ

Are you concerned about the Market Conditions in Tucson?

Asked by Cathy Porterfield, Tucson, AZ Fri Jul 18, 2008

Home prices have fallen from the Rush to buy any home a few years ago, and todays market is frought with Forclosures and short Sales.The Forclosures and Short sales are getting Multiple offers of 5 to 10 on a home that is priced right which indicates to me that even in this struggling market the buyers are out there if the home is priced to sell..

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The most important component to this is: We have a buyer pool that remains unchanged, in good markets and bad. At the right price, when buyers see a perceived value, they will buy. I have had my best months in real estate lately, now that prices have reached a level of that perceived value.

Great discussion and great comment!!
1 vote Thank Flag Link Fri Jul 18, 2008
The only thing that seems to be a issue is that some of the short sales are giving a false impression of market value and many of them are not working out with the lender. There are lengthy continengies, buyers get frustrated waiting for the bank to respond, and the whole process starts again with a new buyer and offer. I agree the the foreclosures seem to be moving and clearing out of the market.
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0 votes Thank Flag Link Tue Jul 22, 2008
0 votes Thank Flag Link Fri Jul 18, 2008
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