Distressed Home For Sale in Tucson Arizona

Distressed Home For Sale in Tucson Arizona

Real estate was once a flight to safety. Now riskier distressed properties in Tucson can offer a greater reward much quicker. It can also get you into trouble fast if you don’t know what you’re doing. Distressed properties occur in all sectors of real estate – residential, commercial and industrial – and are defined as one that is currently:

• encumbered with more debt than value
• one the owner can’t or chooses not to make debt payments
• in foreclosure or bankruptcy
• partially built out and work has stopped or dramatically slowed
• bank or lender owned
• a property that has lost value due to governmental regulations such as:

–    endangered species

–    flood plane

–    archeological findings

–    condemnation

–    eminent domain

–    environmentally challenged

–    impacted by any combination of this list

The right time

No one can predict when the real estate market will hit bottom. It happens at different times depending on where you’re located in the U.S. And, it depends on what type of real estate. The single family market is showing signs of reaching bottom, where as commercial property is still in a free fall.

You have to pay close attention to local market conditions independent of what the national market is doing. This is an inexact science at best. The complexities of the real estate market make trying “to time it” as difficult as trying to time the stock market.

Jeff Utsch, Realtor
JeffUtsch@MyOwnArizona.com
www.MyOwnArizona.com
(520) 822-6575