Normalizing Real Estate Market in the Foothills - Tucson Luxury Homes

November 12, 2007 by Donna Anderson.

Lately buyer traffic is picking up in the Foothills and stats prove the market here is stabilizing! Real estate is always local and the Foothills is faring much better than the surrounding neighborhoods. And if you don’t believe me —ask the buyers: there is not an over-abundance of  Foothills homes on the market now! In fact, many buyers are complaining that there is not enough “good houses” in their price ranges. Keep in mind  that even with all the national news negativity about the real estate market, one-half the markets are doing just fine. Interest rates are low; 6/14% for 30 year fixed conforming loan (less than 417K) and 6 3/4% for a jumbo loan (over 417K). The Foothills has never had many buyers getting interest- only loans or 100% loans, and most who buy here do not have credit problems.  Other factors that have helped keep the Foothills market from  faring poorly are that there has been very little building going on in the past 5 years; in fact, vacant land is almost non-existent; the best schools are located here, and this is where the most sought after golfing, shopping, art galleries, etc are located. The views are “Switzerland in the Desert”. The best time for buyers to purchase is now; the market always slows down during the holiday season and since the Sellers will see fewer potential buyers they will be more anxious to sell. So savvy buyers– get out there and buy your Foothills home!

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