Tucson Real Estate Market
Providing Information on what is happening in Tucson
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The Dog Days of Summer…
Posted on July 25th, 2010 No commentsWell, they are finally here! The dog days of summer have officially arrived. Folks, we’re in the final stretch of summer now… It’s that time of the summer when many people who can take time off work are on vacation. Kids (and parents!) are counting the days until back to school time. I think this photo sums it all up. This is my dog standing on the precipice of the end of summer. From these dog days, it’s all downhill from here. We’ve made inroads through the hottest part of the summer, and in a few weeks- we’ll see begin to see those bright yellow school buses, once again gracing our streets and taking our kids back to school to their daily rituals.
The dog days of summer
So, why does the real estate market in Tucson feel slow right now? We must going through an end of summer lull. The buyers who are braving the hot summer temps during these final dog days of summer will be the ones thanking themselves for doing it later on. Interest rates are at all time lows. So are home prices. Prices in many areas of Tucson are at pre-2000 levels. With the combination of record low interest rates, and even lower real estate prices- why aren’t more buyers buying homes in Tucson right now?My theory is that there is a lot of uncertainty in the air. Buyers are concerned about job losses, further deterioration of home prices, and the political fall out from SB 1070. Whatever side of the coin you are on, SB 1070 is a political hot potato that (for lack of a better euphemism) is causing a lot of pausing in the Arizona economy. Whether it’s big companies cancelling trade shoes, or small joes cancelling vacations- people are speaking with their pocketbooks, and it’s creating a withdrawal effect in the broader statewide economy. Hopefully we will not lose any part of our important second home market as a result of the SB 1070 fallout. But as of right now it’s anyone’s guess what the total economic effect of SB 1070 will be.As Warren Buffet says, “When everyone is fearful, be greedy. When everyone is greedy, be fearful.” If you are a buyer in the Tucson real estate market, why not take advantage of these last few ‘dog day’ weeks of summer (when everyone else seems to be doing something else), and buy your home now. There are numerous deals to be found throughout the Tucson valley. A few years from now, people may be kicking themselves as to why they didn’t buy in the summer of 2010. If you want to buy a home in Tucson, there is no time like the present! Call Sarah Ley at (520) 404-0544 if you would like make you move in the Tucson, AZ real estate market.Leave a reply
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