Since the early spring of 2013, there just haven’t been many great properties on the market in Tucson – we were short of inventory and prices were great for Sellers. For most of 2013 and 2014, Tucson investors disappeared, but in the past few weeks, things are starting to change.
The Tucson real estate market is starting to offer good prices on good homes again and investors are starting to show back up. Investors, especially those with cash, can get some good deals, even though the pricing is up – there are some areas of town where prices are not as strong so properties can be purchased and rented for a good cap rate (between 8 and 10%).
The other piece of good news for investors in the Tucson market – professional flippers – it’s time to take another look at the margins for purchase, remodel and re-sell. Although Tucson home prices are not steady and vary, a new home cannot be built for under $100 a square foot right now. With a good amount of homes available for $70 a square foot or less, well the numbers add up for healthy profit to fix and flip.
If you are interested in renting your home, purchasing an investment property or are a first time buyer – call KGC Properties and let’s get the process started for you!
This blog is written with my opinions and my opinions are presented with accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2014. If you want to reprint parts of this - just email me for my permission: KGCProperties@gmail.com .