Tucson This May Be The Best Time To Buy A House
October 24, 2007
Post Tags: Tucson Real Estate , Tucson-Good-Time-to-Buy , tucson-homes
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This is a picture of the most photographed Sunday Headline in the “Arizona Daily Star” this year. At least it is the most photographed by Real Estate Agents.
While this is the headline the actual title of the article is:
New-home market flooded on outskirts as builders, owners compete
This is a point we have been making repeatedly over the last year about buying New Construction or in a subdivision that still has new construction going up.
However, this isn’t what I want to focus on here. It is the headline itself. Now May be specifically.
Here comes the story.
In my High School, traditionally the Junior class would sell magazine subscriptions to pay for the Jr. Sr. Prom. Our class was different. We did the magazine sales but we invested the money early in the stock market and let it grow. We had several stocks we bought and when it came time to pay for the Prom we had more than doubled our money. I took a real interest in the stock market and took my own savings and bought shares as well. It is a long story how a 16 year old kid got his own brokerage account but thanks to my Mom and Dad I did.
I watched my investment grow until finally it stopped growing at $105 a share. Over the next 5 to 8 years I just left it there (I only had 5 shares at that time) But still $500 in the stock market in 1967 for a high school student was a lot of money. By this time I was married had one child and one on the way and my stock was worth $11.00 a share. It was a good time to buy.
Now the point of my story. But it wasn’t a good time to buy for me. I didn’t have $11 to spare to buy even one share. I was a young minister with a family and even though the stock was priced right to buy, it wasn’t a good time to buy for me.
A few years later I was able to buy a few more shares around $18 a share. I didn’t think it would ever get back to 105. Another 5 years went by and it was now $70 a share. I was able to sell it and break even, or make a little on it.
Point of this long short story. May be a good time to buy depends on each individual person or family and their financial situation at the time. Sometimes the personal good time to buy and the market come together which makes it a Very Good Time to Buy. But in life those times are rare.
Even with this headline, buying a Tucson home, or a car or any other major purchase depends on where you are financially, not how good the deal or how good a time to buy it might be. If you can’t afford the purchase price, it is not a good time to buy.
March 20th, 2008 at 1:50 pm
That was a great article, it is interesting to look at the market there, and compare it with my own. Here in Vernal Utah we have a huge boom because of oil shale, so it was neat to hear what you talked about. http://exitrealtyvernal.com/