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Tuesday, February 28, 2012

A Prospective Seller Asks: Who is Buying in Tucson Right Now?

I am seeing three interesting groups of buyers in the Tucson market:
  1. Investors, who seem to be buying for rental investment rather than to "fix and flip."  
  2. First-time buyers, who recognize that with low home prices and low interest rates their mortgage payment may be lower than the rent they have been paying.  
  3. Retirees and those I term "near-retirees." Near-retirees are buyers who may be 2 to 5 years away from retirement, usually still live and work in their home city but recognize that it is a good time to lock in that future Tucson retirement home now while rates and prices are low.  
They are all looking for homes right-priced to the current market and in good condition.  The first timers and retirees especially are looking for homes with up-to-date features rather than fixer uppers.

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