You can still find smaller priced properties since the inventory keeps being filled by new foreclosures.8% plus cap rates are valid expectations.
Some Scottsdale property priceshave already leveled. In some cases I do not see prices going down.
Go Ducks (sorry they lost)
The time is right now to buy property in AZ. Foreclosed homes that are in decent condition and price are being snapped up by investors. If they are junk, they sit on the market or get auctioned or bulk packaged. By the time you finish repairing them and making them livable you should have paid a little more and purchased something ready to go for quicker less costly cash return. As an agent and an investor I'm buying now and choosing wisely. I cannot predict the future nor can any of my peers if we could we'd all be rich! If you want a "good deal", buy now, don't wait.
My website below has live IDX link with the Multiple Listing Service that agents use. Feel free to search on it to get a feel for what types of properties are available in your investment price-point.
Realtor, GRI, CSSN
John Hall & Associates
We would be happy to discuss strategies with you anytime.
There are many properties you can pick up and rent out as an investment, and purchasing a home for yourself will be easy to pick up a great deal. Our market could possibly get a little lower, but I don't think it will drop much even if it does. It is a speculation of course. We can also set you up with property managers. If find the feel very reasonable.
Tom Chase, CEO TJ Chase Realty Group
I haven't heard anything new about the banks offering bulk sales. They have found that they can make more money selling them separately. My partner and I have been working many investors and they are all buying separate homes in "bulk" through the deals we have found for them and have realized a very profitable return on their investment.
If I hear otherwise, I will post it here.
Let me know if I can help you.
Keller Williams Integrity First Realty
Jason E Whaley
I have five REO listings that fit this category. Please see the offering on Loopnet: http://property.loopnet.com/17053420
Call if you are interested.
So I hope this clears things up about my position and questions, that being said communication online is not my strong suit, if you are still interested in answering my questions thank you and I will be in touch.