Tucson REAL ESTATE
Current Real Estate Information for Tucson
Current Real Estate Information for Tucson
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Tucson Real Estate Update

12/17/2007 - Year End Updates

--The year will end with about the same number of units that sold in Tucson MLS for 2002.
 
--The average sales price in 2002 was $183,000.  The average sales price in Oct. of 2007 is $263,000.  That is a 44% increase in appreciation in a 5 year period. 
 
--There has not been a "plunging" of home values as suggested by the press.  Quite the contrary in Tucson, our prices have been stable and actually went up by a percentage point in the last quarter.
 
--Real Estate is a local business. You can not compare Tucson to Phoenix let alone the Nation.  The same applies to pricing and local average sales prices.  You can not say that all subdivisions have increased or decreased the same in values.
 
--The neighborhoods that have been impacted the most are the subdivisions that were built 2 to 3 years ago and are now competing with brand new construction.  The builders are giving huge incentives for buyers to buy and it is difficult to compete with that if you are trying to sell your 2 year old home.
 
--There are lots of opportunities for today's Home Buyer.  Lots of choices, still low interest rates, and motivation galore.  It is a great time to buy up or down.  In fact, one could make a case for if someone wanted to retire in 2 years and wanted to buy a smaller home, they may want to consider doing that now because prices may go up and interest rates may rise.
                                                ~ (Rosey Koberlein, Chief Executive Officer, Long Companies)
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Pam Ruggeroli
Long Realty Company
5683 N. Swan Rd.
Tucson, AZ 85718
Phone: (520) 665-3012
Cell Phone: (520) 954-7138
Fax: (520) 844-6306

Contact Pam Ruggeroli Online Now


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