Tucson AZ Real Estate

How is that for a mouthful of title. Tucson is one of the few destination in the country with over 300 days of sunshine for golfing, biking, hiking, eating etc. I had to throw that last one in because Tucson has many wonderful places to eat. Many of those places have outdoor tables for sitting in the sun and enjoying the mountains or just plain fresh air.

So what does a Recession Stagnation Proof Buyer look like? You might be surprised. I know first you are thinking I’m going to say Snowbirds, or Retiring Boomers, Second home buyers (similar to snowbirds). These are included for various reasons I’ll mention later. This first group is often overlooked.

They don’t get much attention in the media, but make up the bulk of people who buy and own homes. Have you figured out what group of buyers this could be?

A Family That Needs A House

I didn’t say a family that needs a home. People make a home, a house is where they usually do it. I know for some of you this is going to be hard to believe but there are people that are moving to Tucson because they have taken a job here. Some are here to start a new carrier. Like the guy that just invented a new hemorrhoid cream and decided Tucson would be a good place to market his new product. (Hey, its not my idea talk to the guy that invented the stuff) There is a very real entrepreneurial spirit in Tucson. There are more small business owners here than any where I have ever lived before.

I remember back a couple of year (maybe 30 now) when my brother-in-law got a new job and needed to move. They found a house in Cincinnati, Ohio. They bought the house and got it at just the right time because interest rates had just come down from 21% to 18% on his home loan. (maybe 35 years ago). Could he afford that? I guess so, they did and lived there for the remainder of their years in Cincinnati.

Right now you can get a 30 year fixed interest rate home loan for less than 6%.

The point is they needed a house to live in and they bought a house to live in. Sometimes people buy a house not as an investment but, are you ready . . “For a place to live”. Almost an unheard of idea anymore isn’t it.

Retired and Semi-Retired Boomers

This is a group that is coming here at the rate of 33,000 every year projected into the next 10 years for Pima County. They aren’t here to work, they are here to enjoy the sun and all the varied things they can do most of the year round. They bring with them their own funds.

Granted we don’t have any real large bodies of water in Tucson. We have lots of beaches though! We don’t have some things that are as important as what we do have.

1. We don’t have earthquakes
2. We don’t have hurricanes
3. We don’t have landslides (not usually)
4. We don’t have tornado’s

For some people these are no big deal, but if you have lived through a few hurricanes in a year or a couple of tornadoes in single season it is pretty appealing to move somewhere those things aren’t.

Not all buyers are retired boomers

Canadians and more

The value of the dollar against other currencies have made housing in Tucson very affordable, maybe finally affordable for some people that have come here each winter but never considered buying before. Canadians do come to mind. Their dollar is worth more than ours at the present. They might have to pay more for books and magazines but homes have just one price.

Real Estate Investors

Real Estate Investors are starting to make their way back into the Tucson market. Let me stop here and say there is a huge difference between a get rich quick “Speculator” looking to make a killing and a real “Investor”. The real investors were pulling out of here selling investments to speculators during the “boom”. Now there are some very good bargains coming available and there are a lot of investment dollars waiting in the wings.

Therefore, there are Recession Stagnation Proof Buyers in the Tucson Real Estate Market. Even though the media doesn’t play up anything besides bad news they miss the point that the bulk of people buying homes still buy them as a place to call home.

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