The state known as the Grand Canyon State boasts more than 300 days of sunshine each year. Although temperature fluctuations vary across the region, the majority of Arizona, is primarily a Biseasonal atmosphere. Mostly, the northern extreme is the area that suffers the coldest of temperatures, 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.

While the median household income and the per capita income are nearly inline with the nation, the average home price is a little higher in the overpopulated areas. The areas less populated and not maturely developed produce the best bargains in Arizona real estate.

The beauty of the state and the agreeable climate are not the only reasons to buy 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 close proximity to California, Nevada and Mexico has spurred more interest in Arizona real estate for vacation homes and retirement retreats.

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 example, acreage in the most desired places can escalate as high as $75,000/acre, while rural areas of Arizona real estate are readily available for less than $1000/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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