Tucson hopeful homebuyers talk housing market
Saturday the Pima County Community Land Trust hosted a homeownership fair to help out prospective homeowners. There are a lot of factors when it comes to buying a home, interest rates, the state of the market, and all the in between, but the main thing they had to highlight was the importance of having an expert in your corner. The Pima County Community Land Trust hosted a homeownership fair to help prospective homeowners navigate the housing market. The main focus was the importance of having an expert in your corner regarding mortgage, credit, and interest rates. Eric Gibbs, former president of the Arizona Association of Realtors, suggested that seller inventory and interest rate were two main contributing factors in the Tucson market. However, he predicted that the market will start to improve in the third and fourth quarters. The hot temperatures and election season may also be factors, with many people potentially delaying buying or selling to see who becomes president, raising inflation and interest interest rates, respectively.
ที่ตีพิมพ์ : 10 เดือนที่แล้ว โดย Renee Romo ใน Finance
TUCSON, Ariz. (13 News) - Saturday the Pima County Community Land Trust hosted a homeownership fair to help out prospective homeowners.
There are a lot of factors when it comes to buying a home, interest rates, the state of the market, and all the in between, but the main thing they had to highlight was the importance of having an expert in your corner.
“My parents recommended the realtor which helped us with getting a mortgage consultant and it allowed us to, you know, not only know where we’re at with our credit score, what we’re able to afford for a home, but making sure we’re getting the lowest APR for,” said Clarence Stanely, a first-time prospective homebuyer.
Getting a relator is something that Fatima Federico, also a first-time prospective homebuyer, has done and strongly recommends, but she still has not had any luck yet.
“What I qualified for wasn’t matching what was in the market. So, I was like, I can’t buy a house even if I wanted to right now because I don’t qualify for the amount,” Federico said.
Eric Gibbs, former president of the Arizona Association of Realtors said that when it comes to the Tucson market, a lot of it comes down to opinion when determining where it stands.
But for Gibbs, he believes two of the main contributing factors are seller inventory and interest rates, which seem to be staying around three percent.
Gibbs said to expect housing prices in the five hundred thousands, with a slight chance of four hundred thousand.
However he added that there are positive signs that the market will start to do better in the third and fourth quarters.
“The thing here is to get your foot in the door,” Gibbs said. “That first home doesn’t always have to be your forever home. It’s just to get you in so that we can eventually get you to the next level.”
Gibbs added that the hot temperatures this summer can also be a contributor, along with the election season.
Saying that many people may hold off on buying or selling to see who becomes president, with hopes that it will change inflation and interest rates.
หัวข้อ: Real Estate, Markets