What problems are in the Tucson housing market currently?

Posted by Michael Oliver on Friday, January 20th, 2017 at 12:43pm

As someone who is constantly in the market representing many clients every day, I see and get information as fast as anyone in the business. To be honest, one problem that is starting to emerge is a lack of quality inventory at all price levels, especially on the Northwest and North side. Catalina Foothills homes look dated and in some situation need significant repairs those homes are still $500,000 or more. On the Northwest side quality is very hard to find under $200,000 and it is somewhat difficult to find decent homes in Oro Valley or Dove Mountain for under $300,000. 

What should buyers do? 

Buyers can do one of two things; the first is to stay out of the market.... Which I think will only mean they will end up paying more money for even less home in the future. (Home prices are about to start going up significantly with everything I see currently) OR a buyer can try to get a deal/ find a home that maybe was not priced exactly correctly. These deals are harder to find but they still exist in many many situations. The best way to find them is work with a Realtor who understands the proper pricing of homes within the current market and can negotiate an even better deal on top of that. 

OR a buyer can try to get a deal/ find a home that maybe was not priced exactly correctly. These deals are harder to find but they still exist in many many situations. The best way to find them is work with a Realtor who understands the proper pricing of homes within the current market and can negotiate an even better deal on top of that. 

We find buyer clients great deals by simply understanding what issues a home has and how to properly remedy them. This allows our clients to constructively look at the homes for sale and understand what it would take to make the property what they want it to be. Another situation we see is some sellers are not pricing accordingly from the start. They may have a nice up to date home with a view and they do not realize that homes like theirs are selling at a pretty big premium currently to the home across the street with neither. Just looking at "comps" today is a bit trickier than in years past as certain features of homes are commanding premiums where in years past that was not the case. This situation is happening less often but I still see it more than you would expect would be the case. 

As a buyer looking for a new home a Realtor who understand what is going on in the market is essential if you would like help with your home search or have questions about any of the homes in the Tucson area call or email us now! 

-Michael 

 

 

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