Dbltrplstuff, Home Buyer in Scottsdale, AZ

We are thinking of buying a home in north Scottsdale and renting it out for a few years until we retire and make it our winter home. Rental market?

Asked by Dbltrplstuff, Scottsdale, AZ Sun Mar 31, 2013

Property upkeep and rental mgmt not an issue, we are just wondering how many good renters there are for the area in price range of app. 2000 to 2500 month.

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BEST ANSWER
Hi Again! One of the services I offer is detailed analysis. Here's an idea of where the market is. It shows the current inventory available as well as ones huch have been rented in the past 6 months within Scottsdale in the price range of $2000/0-2500. Obviously, the more details I know of your situation, the better refined the data will be. From here you can see it is important to (1) understand specifics of the property you are considering (2) some areas will rent faster and (3) more data can help you select areas which may result in better rental rates if you haven't narrowed down where you want to buy yet. Please contact me if you think this type of analysis will help you in your new winter home search,., (480)414-3410
0 votes Thank Flag Link Sun Mar 31, 2013
Just discussed a rental of a north Scottsdale home with an owner this evening. They will be renting the home at $3,000 a month which includes pool maint, and landscape maint. They are seasonal visitors so their home is idle for many months out of the year until they can call AZ home permanently. Qualified renters are not hard to find and the screening process and security deposits will give everyone piece of mind.
Good luck with your decision making and feel free to contact me to discuss options.
1 vote Thank Flag Link Fri Apr 5, 2013
Great plan and strategy Finding qualified renters should not be an issue
There is some great inventory in north Scottsdale. Would be happy to help in your search.
1 vote Thank Flag Link Sun Mar 31, 2013
Good morning. Yes, most definitely there is a market for renters in that price range. I have several clients that have done just what you are proposing. I also have several rental/investment properties myself, so I am very familiar with the rental market. Depending on the location of the property, and if it will be a long term/unfurnished rental, you can get around $1/sq. ft. for rent. Of course the larger the home, the price per square foot starts to drop a bit. We definitely have a strong rental market and I would be happy to discuss options and locations that would suit your needs. Feel free to contact me at 480-620-5738 or tfahl@cox.net.

I look forward to assisting you in your Real Estate needs,
Teresa

Teresa R. Fahl, Realtor ~ Fine Homes Specialist
Prudential Arizona Properties ~ Troon North
28190 N. Alma School Road, Suite #111 | Scottsdale, AZ 85262
Email: tfahl@cox.net | Cell: 480.620.5738 | http://www.TNTFineProperties.com
1 vote Thank Flag Link Sun Mar 31, 2013
Like any city, Scottsdale varies by location. Its best to speak with an agent and boil it down by the location, the home size/price and that will help determine approximate rental value.
0 votes Thank Flag Link Fri Apr 11, 2014
We're you able to buy the property in Scottsdale? Are you still looking to do so?
I would love to help.

Best Regards,
Bianca Bennett
602 570 7898
http://Www.InvestInArizonaHomes.com
0 votes Thank Flag Link Thu Apr 10, 2014
Hi There,
Rentals are steady. Buy Home sooner than you expect. Prices in Scottsdale are rising quickly.
Contact me for a current property report. Not much for sale under $300k in Scottsdale.
20+ years in the Real Estate Industry. I welcome all new business and referrals.
Mary
mcutaia@realtyoneaz.com
480-6201339
0 votes Thank Flag Link Thu Aug 22, 2013
Our rental market is hot and is expected to remain so even as the market improves. Renters who actually own a home they could not afford are now able to sell it. They are then able to buy. However our job market is improving as well and bringing 60k new people to our area each year.

Right now, we don't have the home inventory for them.

Home builders have not been building homes due to the downturn. They are now scrambling to build homes. However they are not able to meet the demand. Micheal Orr of the Cromford report stated that we have not see a new home housing shortage like this since WWII.

Contact us form more: ScottsdaleScott.com
0 votes Thank Flag Link Thu Aug 22, 2013
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0 votes Thank Flag Link Wed Jul 3, 2013
I'm currently listing my home for sale and I think it is a perfect second home. Had it built for that main reason. would consider a deal you are looking for.North Southdale home 6 miles north of 101 and Scottsdale road

IRPI
Peter Bailey
30441 n Palo Brea dr
Scottsdale AZ 85266
602 359 3392
0 votes Thank Flag Link Fri Apr 12, 2013
You have received many great responses. I would appreciated the opportunity to refine your options and assist you with your desired choice to purchase a property in Scottsdale. Rental Properties are a great investment in Scottsdale. Please contact me direct. I look forward to an opportunity to a future business relationship with you.
Mary Cutaia
Realty ONE Group
MCutaia@RealtyONEAZ.com
480-620-1339
0 votes Thank Flag Link Fri Apr 5, 2013
There are many great renters in this price range as many snow-birds or foreign nationals rent. If your intensions is to buy, my recommendations is to get qualified to purchase that property your looking for. After your qualified and have a lender approval, you can work with your realtor or be recommended to one.

Call me at 480-783-6798 or email me at Manuel.Amaya@BBVACompass.com

Thank you,


Manuel Amaya
0 votes Thank Flag Link Fri Apr 5, 2013
Your goal is very achievable.Below is a list of homes for sale in Scottsdale and Realtors in Scottsdale.

http://www.realtypin.com/house/scottsdale/arizona/united-states
Web Reference: http://www.realtypin.com
0 votes Thank Flag Link Wed Apr 3, 2013
Dear Dbltrplstuff; I know of a nice home in Grayhawk with wonderful tenants on a 2 yr lease at 1950. Would you be interested in something like that?
0 votes Thank Flag Link Mon Apr 1, 2013
N Scottsdale is an excellent location to purchase an investment property, due to its potential appreciation during the next few years. They are plenty of good renters in the $2,000 - $2,500/month range that want to live in this desirable location. I would be happy to assist you in your search for the ideal property and in locating a desirable tenant.

Regards,

Rob Ryan
The Galary Collection
Luxury Division of West USA Realty
602-828-1589
RobAZHomes@gmail.com
0 votes Thank Flag Link Sun Mar 31, 2013
There are neighborhoods within North Scottsdale that are better suited than others for stable rentals. Part will depend on what amenities you desire and what part of North Scottsdale you wish to be located in the future.

Jay Jasper
Russ Lyon Sotheby's International Realty
8852 E Pinnacle Peak Road, Suite J-3
Scottsdale, AZ 85255

jay.jasper@russlyon.com
http://www.JayMJasper.com
http://www.facebook.com/desertselleraz
Twitter@desertselleraz
0 votes Thank Flag Link Sun Mar 31, 2013
Right now there is no better place to invest your money than in the North Scottsdale area real estate...Period! You can not trust the banks and even the stock market today. Plus interest rates are at their lowest ..at under 4% for a thirty year mortgage. You would have to refer to your mortgage specialist for exact rates based on your credit score. I would recommend Shelter Mortgage , Teresa Sullivan, at 602-405-9502. If you consider your home purchase as your second home then the mortgage interest can be a tax write-off. Of course, you would have to check with your tax professional regarding the specifics. I would be your real estate professional since I have been working in the North Scottsdale area for 18 years. Please feel free to call me anytime. Kelly Foedish, Prudential Arizona Properties, 480-415-1624.
0 votes Thank Flag Link Sun Mar 31, 2013
I have many clients that have and continue to purchase with the idea renting now and residing in a few years from now. There are many aspects to consider, ie, furnished vs unfurnished, seasonal vs long term. There are a couple of communities that I service in North Scottsdale that I think are great candidates for your plan. I also can assist with the placement of tenants and connect you with property management if you desire.

I believe that with the resources I have and the affilation with Russ Lyon Sotheby's International Realty, I can be a great resource for you.

Jay Jasper
Russ Lyon Sotheby's International Realty
8852 E Pinnacle Peak Road, Suite J-3
Scottsdale, AZ 85255

jay.jasper@russlyon.com
http://www.JayMJasper.com
http://www.facebook.com/desertselleraz
Twitter@desertselleraz

As a side note, based on ARMLS statistics, Russ Lyon Sotheby's International Realty leads the market in North Scottsdale 85255,85262,85266 Cave Creek and Carefree.
0 votes Thank Flag Link Sun Mar 31, 2013
Yes - this is a very doable strategy. Scottsdale is a very high demand area and rental rates ate very strong here based on the desirable area. Several investors are also doing this strategy and also planning on gaining appreciation in the home as prices are increasing. If you'd like to chat more - I would be happy to talk to you. I can be reached at (480) 414-3410. Happy Easter! :) Patty
0 votes Thank Flag Link Sun Mar 31, 2013
Dear Dbltrplstuff:

In our current market environment we have a lot of families still short-selling their homes which means they will be renting for 2 to 3 years until the mortgage industry is lending to them again. I myself own eight properties and on many of them we have had tenants in them for multiple years in this exact situation.

The rental market in North Scottdale is still very strong as long as you do not get too far north. People still want to be close to freeways, dining and shopping. Buy a home that you like, with the knowledge that when you are ready to make it yours you will come in and paint it and do new flooring. You may need to do a few other upgrades at that point as well.

The $2000 to $2500 rental price range is still very active in Scottsdale and a nice home will rent quickly. Be sure to include lawn and pool service if applicable so that you know those items are well taken care of. Also be sure to get a rental analysis at the same time you look at sales comps so that you know if those rents are reality.

I work with buyers and sellers in Scottsdale and also do property management. If you need any help please feel free to call me at 602-390-8088. When you do pick an agent, pick someone you feel comfortable with, trust and like. You will spend a lot of time with them and you want to make sure they have your best interest at heart. I wish you the best in your endeavor and would love to assist you if you so desire.

Sincerely,

Howard Rudiin
602-390-8088
WEST USA REALTY
TOP 1% Producer
0 votes Thank Flag Link Sun Mar 31, 2013
You have received many great responses. I would appreciated the opportunity to refine your options and assist you with your desired choice to purchase a property in Scottsdale. At your convenience, please contact me direct. I look forward to an opportunity to a future business relationship with you.
Mary Cutaia
Realty ONE Group
MCutaia@RealtyONEAZ.com
480-620-1339
0 votes Thank Flag Link Sun Mar 31, 2013
Hello Dbltrplstuff,
It is a great time to invest. There are many renters looking for a place to rent and Scottsdale is one of the hot spots especially during the winter months. Give me a call and I can help you with all your real estate needs. I am hear to serve you. Thanks, Cathie Smith yourhomeinaz@gmail.com or 480-382-3688
0 votes Thank Flag Link Sun Mar 31, 2013
Dear Buyer:

Vacation rentals are a great idea, H.S. Dent who is an expert on demographics says this is the next big thing.

Here is my analysis of the 7 year cycle.

http://www.youtube.com/watch?v=ER0VDbrV_4A

Hope this helps!

Terry S. Smith
47 year Arizona Resident
Rain Dance Realty
(602) 763-1858
ScottsdaleForeclosures@gmail.com
http://www.ScottsdaleLenderForeclosure.com
0 votes Thank Flag Link Sun Mar 31, 2013
I Second Mr. Smith's reply.
H.S. Dent's financial forecasting firm has nailed the last 2 decades of up and down markets/bubbles... The next real estate bust could be coming in 2015-16..
Flag Sun Mar 31, 2013
Dear Buyer~

I have several buyers' taking advantage of the same situation that you are considering. There are so many wonderful communities in North Scottsdale that hold their value for resale and rentals so this is a win, win for all parties involved. There are a lot of strong well qualified renters looking in your monthly budget range. Feel free to reach out to me anytime to discuss all your options to take advantage of the current market. Christina@desertlivingproperties.com
0 votes Thank Flag Link Sun Mar 31, 2013
Hello.

Your question is excellent and many of my clients, both current and in the past have taken advantage of the the relatively low prices ( in comparison to the all time highs of the mid 2000s) on homes in North Scottsdale and renting the homes out until they are actually ready to move in.

As property rental and upkeep is not an issue they key to selecting the best property will be to review your personal "wish list" for the home you want for yourselves and see how those parameters fit into the rental spectrum as to price and current market demand.

There are no "one size fits all " answers. Each of my client's needs is individualally analized and my research then tailored to those needs.

I invite you to "meet me" at http://www.myphxazhomes.com or call me directly @ 602-919-1256 and learn just how I can put my almost 35 years as a Scottsdale Buyer's agent to work for you!

Sincerely,

Joani Frankel

Realty One Group
http://www.myphxazhomes.com
602-919-1256
joani@realtor.com
0 votes Thank Flag Link Sun Mar 31, 2013
This area is very desirable and generally at this price point you get good quality tenants. Of course you will need to decide if the return supports your investment goals.

I will be happy to discuss your plan and research the best properties.
0 votes Thank Flag Link Sun Mar 31, 2013
It's. great time to be an investor. Properties are especially in Scottsdale areas rent out quickly and for top dollar due to the vast amenities and location.

I would be happy to answer any questions about purchasing a 2nd/investment home in the N. Scottsdale areas.

Shoot me an email or call me ryan@realscottsdalehomes.com

Cheers,
Ryan Ney
0 votes Thank Flag Link Sun Mar 31, 2013
Dear Sir/Ma'am-

I recommend you buy now rather than later. As in investor and realtor, I rent my properties for 6 months through the summer months and always double down for x2 rent during winter season (High Season).

I can help you find where the vacationers are going in Scottsdale and how to rent it fast!

Email me: mlong20@gmail.com
0 votes Thank Flag Link Sun Mar 31, 2013
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