Tucson Condos For Sale
Tucson Condos For Rent
Now is an excellent time to purchase a Tucson condo due to historically low interest rates and prices that have dropped 50% in many of the recently converted subdivisions.
During 2006 & 2007 eight apartment complexes in the Catalina Foothills were purchased by developers and converted into condos. Many of these Tucson condos were remodeled with new appliances, new paint and flooring, granite counters and new cabinets & fixtures.
Unfortunately for Tucson condo sellers prices have dropped drastically due to investors strategically defaulting on their loans causing a flood of distressed properties to hit the market.
With 76 million baby boomers reaching retirement age and Tucson, Arizona being rated a top retirement destination by USA Today, Business Week, AARP Magazine, Business News and Money Magazine (all these articles can be found at www.facebook.com/tucsoncondos) Tucson condominium prices will begin to appreciate once again after the reo and short sales have been absorbed.
Tucson Condominiums offer resort style common areas featuring pools, spas, tennis courts, exercise facilities, gated entrances, barbeque areas and fireplaces and recently updated clubhouses. And many of these communities are within walking distance to restaurants, shopping, world class golf & tennis and hiking at Tucson finest parks.
These outstanding ammenities combined with the convenience of being able to lockup and leave make Tucson condos a popular choice with winter visitors.
And while Tucson condo owners are away they have the opportunity to place their second home in a vacation rental program with the possibility of receiving monthly rents of $2,200 for a 1BR/1BA unit, $2,800 for a 2BR/2BA and over $3,500 for a 3BR/2BA Tucson condo.
Many of these condo conversions will make excellent investments; however, there are other Tucson condominium subdivisions that investors should avoid.