Considering a reverse mortgage in Arizona? Your home’s value may be the key. Many home owners are faced with the reality of the current real estate market while planning for a reverse mortgage in Arizona. Most Arizona markets are still declining and Arizona home values have dropped 15.7% in the last year alone, according to Zillow Real Estate Market Reports. While there are some bright spots, those seem to be less affected by the downturn but none of them are seeing any gains yet, like we see in other parts of the country. This is a volatile market and all of the reasons you bought a home in Arizona or Florida for that matter are the reasons for the volatility. When times are good, they are really good in these desirable, vacation/retirement areas. When the pendulum swings back the other way, however, we can see sharp, protracted declines in value, a mirror image of the good times. This is a great time to buy and a good case can be made for borrowing against your home’s value at current market prices as well. When you borrow in lean times, like today,  it’s hard to over leverage your home and when prices stabilize, you will have more equity for future use. Dont’ forget, future equity is a good thing and it can be tapped into at a later date when you refinance your reverse mortgage. If you are out bargain hunting, try calculating a reverse mortgage purchase scenario, or give me a call and I’ll explain to you how to take advantage of this downturn in market prices.