Market Conditions for Tucson, Arizona Reported by Jon Quist, ABR, CRS, e-PRO, GRI Updated October 30, 2008.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

GOOD NEWS! SEPTEMBER OF 2008 HAS SET A RECORD INCREASE IN SALES OVER AUGUST SINCE 1996!

Historically September is a slower month than August which has been the case since 1996. This year there was an increase in sales by 3.43% over August which affirms that the Tucson market is continuing to stabilize.

Now is a good time to buy a home - Conditions are ideal for buyers. Prices have moderated, and interest rates are still hovering near 40-year lows. - Current market conditions won't last long.

NAR research shows that prices are beginning to stabilize and interest rates are creeping up. A modest increase in property values is expected in 2009. - The new first-time homebuyer tax credit and the availability of a number of attractive and safe mortgage products provide
additional reasons for buyers to get off the fence and into the market. Our Tucson market is strong and getting stronger. Tucson is NOT Phoenix or Las Vegas!

Pertinent Facts - The new homebuyer tax credit contained in the new Housing and Economic Recovery Act of 2008 likely will bring about 2.5 million first-time buyers into the market between now and the middle of next year.

The Emergency Economic Stability Act enacted on October 3, 2008 will help to improve credit markets, and NAR predicts that as a result home prices will pick up in 2009.

Home ownership continues to be a wise investment. FHA market share is expected to triple over the next three years, from an estimated 4 percent in 2007 to 12 percent in 2009. Good low down payment loans are still available!

Thanks to Kimberly Clifton, the 2008 MLS President, for her comments and insight.

So, in a nutshell, we are NOT having a firesale in Tucson, but there ARE some really good deals out there!

So if you really want to know what is actually going on, and really find those hidden deals, call me, a very experienced REALTOR and YOUR Bona Fide Exclusive Buyers Agent for Tucson!

There are also more than a few short sales and foreclosures are now available.Those REALLY take exceptional expertise to get though. Not at all for the inexperienced and unseasoned agent. And, for the uninformed buyer, short sales and foreclosures are COMPLETELY DIFFERENT so don't look upon them as the same opportunity. They ARE not!

It IS an Incredible time to buy. Tough market if you're a seller though. Glad I always have represented ONLY the home buyer! I refuse to gloat, though, at least in print!

Well priced homes in desireable areas still sell quickly. Interest rates seem to be holding at decent levels! AND...the good mortgage lenders still have the loans you may need. So work with an experienced, knowledgeable and well prepared REALTOR who has a versatile group of high quality lenders available to his clients! That should be myself...Jon Quist!

Arizona is now ranked again as the top growth area, as in Number One, in the country. We have a WIDE variety of homes and areas, and our city continues to have housing to suit any need, with homes to fit any lifestyle. The resale market favors the informed and well represented buyer, and there are a variety of new home builders to work with as well. New construction also offers some good opportunities, with builders offering some great incentives.

Did you know...Buyers Get Free Services! Most of us are familiar with the saying "You get what you pay for". One of the few times that you will get something of value that YOU don't pay a thing for is the service of a real estate professional when you are buying a home.

Commission structure is set up in such a way that the seller of the home in fact, pays your REALTORŪ fees. One on one free expert advice and help is something that is available routinely in no other professional service.

As a professional I can help you by showing you only the type of home you might be interested in and can afford. I can narrow down the number of houses you must look at before you find something you will be happy with.
I am also familiar with lending institutions of all kinds and can assist you in finding the financing you need. Hiring a guide to help you find your way through new and unfamiliar territory is a long tradition in our country.

In my profession I am fortunate to be able to offer that guidance free of charge to buyers!

In spite of Tucson's higher prices, continued lower interest rates and good home values compared to some other parts of the country, as well as the continued wonderful lifestyle associated with Tucson has kept the market healthy.

For current up to the minute market news and sales conditions, you can email me at TucsonAgent@msn.com, or check out all the data available on my website.

Please "click" on About Jon Quist to find out more about me and my unique approach to my clients in the Tucson marketplace.

Thanks for your interest in the great Tucson area. I hope to be able to be of service to you now and in the future.


ZIP Codes: 85710, 85711, 85712, 85714, 85715, 85730, 85748, 85749, 85750, 85718, 85737, 85741, 85742, 85651

Approximate Location Boundaries: Tucson, Oro Valley, Marana, Vail and all of Pima County

Location Characteristics: Tucson is a unique city. For extensive facts about Tucson, please go to my website and check out all my local "links".

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