He added that not every member of the board or council were on board, but that enough has changed to help Tucson’s perception nationally.

value depends on whos perception you want to consider because its different for each:- appraisal value - how appraisers will determine value for the purposes of obtaining a conventional loan on a fourunit is mostly weighed towards comparable approach in my experience even though the appraisers notes say "most weight was given towards income approach," Ive seen this hundreds of times- subjective value to you as an investor - each investor has their own criteria similar to what others have mentioned above regarding how "they," look at a value- banks underwriting value - may differ from appraisal value if dealing with local portfolio or commercial lender as they use different metrics to adjust appraisal value or listing price to lend only up to their version of "value,"- Market/selling value what the market will actually contract at for that given property, sometimes guessed by realtors as a BPO or broker price opinion.

Obviously I am still young in the whole game so I could change my perception of everything down the road.

Agents using the climbing interest rate theory are making a quite novice claim in my opinion. its a perception.. 

Despite perceptions, banks aren't stupid.

I have only been there to visit my grandparents once per year, but my perception is that it is a place for older people and for those who are "stuck".

Appreciate the wisdom Jay Hinrichs and David Faulkner It could my perception is not matching reality when it comes to rents and values in the California markets I'm familiar with.

On the flip side its definitely more expensive, that's usually the case when there's a higher perception of risk from the lender's perspective.You're always going to make your money when you buy, so if you get a project under contract for the right price, you're going to make money.

(Although if the problem is her or her boyfriend's perception of the area, I don't know why she would bother doing a 1-year lease.)

@Kenley Law "Reality" as defined by your agent's perception may be skewed.