Before the summer monsoons hit Tucson every year, Arizonans wait in anticipation. The humidity slightly rises, but so does the heat. It will usually it gets a little windy, and we get some scattered showers.
But we know that there are three things that must happen every year to officially welcome the Summer Monsoon Season. The humidity must rise, and be above 60% three days in a row. Temperatures must also rise as the heat drives in the clouds. And the winds from the south must bring up the clouds and storm. It's a beautiful science and it happens every year. Everything gears up, the conditions present themselves and we have ourselves "The Perfect Storm." Arizona gets tremendous amounts of rainfall that our desert so desperately needs, the frogs come croaking out of the ground, and the fresh smell of the desert is welcomed into our homes.
Just as we welcomed the summer monsoon season, we have just had that same scenario line up with the home buying experience here in Tucson, AZ.
The Federal Reserve cut interests rates one-half of a percent yesterday. While this helps cut the prime rate on credit cards and those loans tied to the prime, interest rates on home mortgages are still lower than average. Home prices are as much as 20% lower than a year ago and there's plenty of choice inventory to pick from. It is so very rare to have all three opportunities present themselves together, Tucson now has "The Perfect Storm" for home buyers. Along with these favorable reports, we also have local lenders offering tremendous deals and savings (that are legit!) that have been unheard of for years. If you would like to learn more about these programs, along with how you can find your perfect home, contact me, Lexa Montierth, at (520) 405-2857.
If you have been waiting for someone to say "This is the time to buy" here is your official notice. The best selection of inventory, along with the best interest rates and home prices. If you are wanting to buying a home in Tucson, the time has never been sweeter.
Curious about any of the information I posted here? I welcome your comments and questions, and would love to help you with your next real estate transaction. Feel free to visit my website at lexamontierth.com or call me at (520) 405-2857.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2008 ActiveRain Corp. All Rights Reserved
Lexa,
This is the Perfect Anology! The sky isn't falling, it's just raining opportunity. Now buyers have to make a choice to take advantage of it or wait for the next perfect storm.
I loved your comment Susan. It IS raining opportunity. I wish I were a buyer right now!
Lexa
Lexa, very well put and a terrific anology. I spend a significant amount of time presenting seminars for Realtors regarding the many opportunities that are currently there and those that will be coming as a result of this market. Most are quite suprised that opportunity actually does exist. In my mind, this is the market that creates the millionaire Realtor.
The AZ Daily Star called me on Tuesday to get my perspective on the Fed cut and what the impact will be on the local housing market. We will see more inventory but we will also see more buyers for a few different reason. Tucson really, when compared to the national inventories, is a hot market.
Paul Dunn www.paul-dunn.net
Excellent Post! I am on my soap box here too. "Calling all Buyers" !
Perfect Post, Lexa! I rated you a big 5 on this one. We're in NJ, on Long Beach Island. I took a photo yesterday of the boat in the Barnegat Light commercial fishing fleet that was the star of the movie Perfect Storm!
Mike in Tucson (on vacation in Surf City, NJ)
Calling all buyers! Yes. Now is the time to buy. But interest rates are up because of the cut, not down. And they are going to keep going up - -which is one big reason that now is the time.
Ann, I talked to favorite lender yesterday and she agreed. When the stock market rallies, the interest rates go up. But she said that they are still reasonable, from 6 1/4 - 6 3/8.....Which is lower by almost a half of percent then they were in Aug when my clients were working with her. I changed my blog to reflect the correct information. Thanks
Lexa
Thanks for commenting on my blog about the Iowa billboard. I'm back in Flagstaff and hitting the market!
Lexa...beautiful picture and the right message. This is true in my market, too. First time buyers and real estate investors are positioned well to buy right now and probably for the next 3 years or so. Thanks!
Lexa,
I haven't seen you on Active Rain for awhile. Come on back!
Mike in Tucson