For many homeowners it is not over yet and might take quite a while for getting out of the woods. The reason is very simple. A lot of Tucson homes are changing hands in the short sale or foreclosure situation. Buyers are searching for the homes with built in equity and buying them way below the previous sales price. This means that many of the homes sold in March – April of 2009 are sold with 20% – 50% discount. This in turn affects any future sales in the area, due to the lower appraised value of the neighboring homes.

Still, the change is welcomed, as it takes some inventory off the market and encourages more buyers to leave sidelines and submit offers.

Even luxury market is picking up and I am getting busier every hour. Out-of-state Buyers, as well as locals search my website: http://foothillsinsider.com/ for Luxury Tucson homes for sale and http://foothillsinsider.com/tucson-foreclosures-short-sales/ for foreclosures and short sales in Tucson.