While sales in the Tucson area fell off in December, they have come roaring back in January. Average days on market has fallen from the December number of 68 days and prices are improving. There are more traditional sales being completed as prices are rising slightly. Investors are back looking at the Tucson area for bulk property purchases, I have had many inquiries asking for home prices and estimated rental prices. The market is getting stronger, if you have been on the side waiting, it is time to move on primary or investment properties. Prices are going up again!
The volume of foreclosure homes in Pima county has risen since the election. Homes are selling quickly, my average days on market for the listings I have for the last 6 months, is less than 30 days. If you see a home you want to buy, you better make a reasonable offer on it. A tip on foreclosures, if they have only been on the market a few days or the price has just been reduced, you will need to make an offer close to the list price to get it accepted. If not, you take a chance of having a multiple counter offer, because others have also put in offers, and the bank will be asking for your highest and best offer, which many times is at or above list price. Save yourself money, do your research and make a reasonable offer.