Tucson Good News and Bad News for the Local Housing Market
July 12, 2008
Post Tags: Tucson Real Estate , Tucson Real Estate Market , tucson-real-estate-good-news
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Good news and Bad news in the Local Real Estate Market
No Photo Saturday
I know you like pictures but this is a quick post
as we head to Phoenix for Island Fries and Burgers
Check out the link for a picture of a really good burger
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This might have been a good article title but it is a very twisted way of looking at the Tucson real estate market.
We heard the media becrying how unrealistic the Tucson housing market was during 2005 - 2007. Something had to be done to bring prices down to earth and make housing more affordable in Tucson.
There were no regulations on who could get a loan short of my favorite saying “Fog a spoon, get a loan”.
Now the market reflects only those who can repay their loan getting loans and a return to a “normal” market (this too is a misnomer, there is no such thing as a normal market) and this is called a bad market.
Does anyone think returning to the numbers of 2007 and the methods necessary to get to those numbers is a “GOOD” thing?
- I think the Good news is that we are closing over 1000 transactions each month for the last three months
- I think the Good news is the falling inventory of homes each month
- I think the Good news is our ability in the Tucson housing market to maintain a pretty stable market after the huge run ups in valuations over the past 3 years.
Now is not the time to call a decline in sales over 2007 bad news. This is Good news and some more Good News.
