Tucson Luxury Real Estate News – October/November 2013 Update
Lower Interest Rates Equal More Demand For Homes In Tucson
Interest rates are down a decent amount from this summer (rates in August saw rates as high as 4.75% on a 30 year FHA) when we started to see the Tucson real estate market cool from the demand side slightly. Currently a buyer can get a 30 year FHA mortgage starting around 3.75% and a 15 year at 3.25%. Since FHA accounts for a majority of the financing used in today’s market this is what influences many purchasers. On the higher end conventional rates are also similar to FHA rates with 30 year mortgages under 4% and ARM’s in some cases touching 3.00%. Mortgage rates at these levels allow for home prices to rise since most buyers buy based on amount qualified for on the monthly basis. As we saw this summer however if mortgage rates increase quickly; home prices can weaken slightly as fewer buyers qualify for the higher rates at the same price levels. Read the full story
The State of the Luxury Market in Tucson
After the housing bust several years ago, many people were wondering how long it would take until we saw positive news as it relates to Tucson luxury homes for sale. Anyone not paying attention to the Tucson real estate market news may not have noticed that prices have steadily been on the rise again. Even though the median price for Tucson luxury real estate is still compelling enough for people to make an investment, anyone waiting too long risks the housing market making a complete recovery. This would make this a sellers’ market instead of a buyers’ market. Read the full story
Arizona to Open Second World of Beer Location in Tucson on Halloween
Tucson, AZ — Who’s thirsty? World of Beer (WOB) Tucson is brewing up some fun in downtown Tucson with a grand opening celebration planned for Thursday, October 31. Doors open at 9 a.m. when all are invited to join the WOB family for a Chicken and Belgian waffle breakfast. Offering more than 500 craft brews from around the world, craft spirits and tavern fare, Arizona’s second WOB location has found a cozy home at The Cadence, 350 E. Congress Street, Tucson, AZ. Read the full story
Tucson start-up to offer luxury ‘balloon’ ride to edge of space
A Tucson-based startup plans to use a helium balloon to lift big-ticket customers in a pressurized capsule to nearly 100,000 feet. That’s a journey to the edge of space, if not into space as traditionally defined. The passengers would ascend for 1 1/2 hours, then spend two hours admiring the world from on high. Then the capsule would be disconnected from the balloon and begin a free-fall, but a parafoil above the capsule would become increasingly effective in the thickening air and the capsule would glide to the surface, landing on skids. Read the full story
For more information on Tucson luxury real estate, visit https://theresidencesdovemountain.com.
