Unusual rock formations, Panaramic views, and the unbelievable painted deserts, as well as the majestic sights of the Grand Canyon make Arizona one of the most impressive states to live in. Investing in Arizona real estate is perfect for businesses, home seekers, and investors.
Boasting more than 300 days of sunshine annually, The Grand Canyon State has perfect atmosphere to enjoy. Although temperature fluctuations vary across the region, the majority of Arizona, is primarily a Biseasonal atmosphere. Although areas to the extreme north do experience quite a bit of cold weather in the winter months, mainly the state has an overall warm climate. This warm climate makes much of the Arizona real estate desirable to snowbirds looking for a retirement home.
Although the average household and per capita income are both relative with the rest of the nation, the median value of homes is slightly higher, largely due to certain overpopulated and overdeveloped areas. The areas less populated and not maturely developed produce the best bargains in Arizona real estate.
Scenic views and pleasant climate are just two good rerasons to invest in arizona real estate. There also is the economic and proximity factor. Commerce has expanded greatly in the last decade with the migration of more businesses and housing developments in the suburban areas, chiefly because of NAFTA. The short distance to major metropolitan areas, like California and Nevada, has also provoked attention to the Arizona real estate market.
This economic deluge has created an elevated price on many of the more populated areas, however it has caused the desirability and lower market price on outlying Arizona real estate. For instance, the most desirable acreage will yield up to $80,000 per acre while rural Arizona real estate is selling in some cases less than $1000 per acre.
The recent slowdown in the housing market may seem to be a deterrent to many. However, the FHA recently announced that it has made available loan programs for Arizona real estate buyers. The offering allows buyers to borrow up to $271,050 with 3.5% down payment and a very low FICO score requirement of 620. An added advantage is the Federal IRS tax credit for first time home owners, $7500 this year and expected to rise to $15000 next year.
Many reasons exist to take a look into buying Arizona real estate; mainly, the fantastic scenery, beautiful warm climate and to escape the overpopulated cities.
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