Look For 2015 To Be A Booming Year For Tucson Real Estate


Look For 2015 To Be A Booming Year For Tucson Real Estate

Look For 2015 To Be A Booming Year For Tucson Real Estate… Read on as to why

The greatest number of foreclosures that occurred in Tucson was between 2007 and 2008. The greatest number of short sales that occurred in Tucson was in 2011.

When some loses a home to foreclosure they cannot be approved for a mortgage for 7 years from the date their home was foreclosed on. As for someone that short sales their home they are not able to be approved for a mortgage for 4 years from their short sale date.

If you do the math there are going to be a large group of buyers entering back into the housing market come 2015 through 2017.

  • Foreclosure: 2008 + 7 Years  = 2015
  • Short Sale: 2011 + 4 Years = 2015

The Tucson housing market has increased by approximately 30% from the lows but still needs to appreciate another 20% to 40% to reach the highs of 2006.

As more and more people enter the housing market coupled with interest rates staying low home values will begin to rise along with interest rates. Another part of the perfect storm of more and more people entering back into the housing market is mortgage underwriting guidelines are beginning to loosen.

It is cheaper to buy a home VS renting by approximately 35%. How about giving yourself a 35% raise if you are currently renting?

NOW IS THE TIME TO BUY A HOME BEFORE INTEREST RATES AND HOME VALUES GO UP!!

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SEARCH FOR A TUCSON HOMES

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Check out the chart below. Mortgage payments are as low as they have ever been relative to the loan amount.

tucson mortgage rates

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2 responses to “Look For 2015 To Be A Booming Year For Tucson Real Estate”

  1. Tyler! This is SERIOUSLY IMPORTANT INFORMATION that everyone thinking about buying a house needs to know! We all know rates have no where to go but up, and if housing demand increases as these figures suggest then prices will increase as well. Please let all your people know that if they want to help figure out what it will take to get them prequalified for a home loan they can call me at Sunstreet Mortgage, LLC (right here in sunny Tucson!) – Todd Abelson NMLS #180858 (520) 331-LEND

    • Hey Todd- Thanks for the comment and input. Yes now is the time to get or work on getting pre-qualified before interest rates and home values go up!