There is no doubt that in 2009 opportunity knocks for buyers. Now you can get into luxurious La Paloma and only pay in the $300,000s for a small patio home; or if that does not suit your fancy, you can buy a small home in Ventana Canyon in the $400,000s. Sabino Mountain even has a home listed in the high $300,000s; albeit, it is a foreclosure, but it is almost 3,000 square feet and has a small pool.
Jumbo interest rates (over 417K) are now obtainable in the high 5%s. Who would have thought that would come to be? Of course, high credit scores; usually 20% downpayment, etc. applies, although in rare cases jumbo loans 600K or under are approved with only 10% down. Conforming interest rates (under 417K) are hovering around 5% and may go even lower. So like the much lower gas prices we have seen in the last 4 months, interest rates are lower than ever imagined a year ago.
Opportunity knocks; call me at 520-918-2410 if you want to see all the best deals that the Luxury Tucson Foothills Real Estate has to offer.