As housing affordability is still one of the real estate market’s strongest plus factors, there is increasing activity in the Tucson, Arizona area that begs for attention. According to April Residential Sales Statistics:
- Total Sales Volume increased 11.90% from April 2011
- The Median Sales Price increased in April to $134,000, a 1.52% increase over April 2011
- Average List Price is up 5.62% over March 2012
- Average Days on Market decreased from 77 in March 2012 to 74 in April 2012
Houses are selling and they are selling rather quickly, and prices are continuing to rise. Our residential real estate guru, Frank Estrella from Mountain Vista Real Estate, showed us four condos all under $200,000, and all part of a golf course community. These homes are perfect for full-time living, or as an investment and treated as vacation rentals (which we can help you with, too!).
Now the only thing we are looking for are 720 & 20 buyers. These “magic numbers” represent the credit score acceptable to most lenders (the 720) and the 20 refers to the 20% of sales price down payment that lenders do look for and that keep the buyer out of the gloom of PMI (private mortgage insurance).
As Mr. Estrella continues to say,
There has never been a better time to buy a home or investment property in the Tucson area. Prices are going up and inventory is going down, so buy now before housing affordability is a thing of the past!
You can reach Frank Estrella on his cell phone at 520-240-5050 or by email firstname.lastname@example.org . He will help you find the right property for you!