Unusual rock formations, panoramic views, and the unbelievable painted deserts, as well as the majestic sights of the Grand Canyon make for spectacular scenery in the Great State of Arizona. Rich in commerce and in environment, Arizona real estate is an ideal investment for homebuyers, businesses, and investors alike.
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. It is this pleasant climate that encourages the northern 'snowbirds' to come here to purchase desirable Arizona real estate.
While the median household income and the per capita income are nearly inline with 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. The progressive economy and adjacency to more advanc ed areas, also make Arizona a smart move. As a result of NAFTA, the economies have realized a boost, both privately and from government sources in developing the regional economies. The short distance to major metropolitan areas, like California and Nevada, has also provoked attention to the Arizona real estate market.
Recent growth in the Arizona real estate market has inflated prices in the prime areas, yet the less developed areas are becoming great bargains. 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.
Even in our slow economy, it may seem unlikely that many people would be looking to build or buy a home in the near future. 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.
A multitude of reasons to look into Arizona real estate exist; including the gorgeous scenery, escaping the overcrowded cities, and enjoying the great outdoor clim ate of the vast open land in Arizona.
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