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Joe Viscuso, Home Buyer in Melbourne Beach, FL

Looking to buy a home within this area & having it rented out. Seen a few I liked & still looking. Liked the Maricopa area as it's close to major

Asked by Joe Viscuso, Melbourne Beach, FL Mon Sep 13, 2010

shopping malls & banks etc as well as Phoenix. Like to know if this area is a safe & populated area to live in & if it's rentable. I hope to one day be able to live there.
Kindest regards
Joe Viscuso
Australia

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Answers

3
Hi Joe
I've lived in the rural part of Maricopa since 1983, boy has it grown! Population estimates are around 40K. (Census numbers won't be out until 2012) Excellent advice in the other post to contact PCSO and MPD for area crime statistics. Maricopa suffered with the fast growth of the boom and resulting bust. You can pick up gorgeous houses for a fraction of what they used to cost - 3000 sq ft homes for the low $100s are common.

There is a term for those who are short-selling and foreclosed on...renter. They have to live somewhere and can't buy again for a number of years. Many are staying in the same area because they like the community, friends, schools etc. Rents have remained strong compared to resale values. If you are willing to look at the overall picture on someone's credit history - they've never missed a car payment, credit card and other payments and only the mortgage is reporting as a negative, there are renters out there.

Another area that does not have quite the volume of houses on the market is Casa Grande. Casa Grande offers significantly more shopping and entertainment options, is located about 35 minutes from Phoenix and an hour from Tucson and is at the junction of I-10 and I-8. Home prices didn't fall as bad as Maricopa, but there are still great prices for rentals that cash flow, with amenities for when you move to the area.
Have a wonderful day
Bea Lueck
Rox Real Estate
http://www.roxrealestateaz.com
0 votes Thank Flag Link Tue Sep 14, 2010
Homes in the city of Maricopa are down 70% from the peak of the market. They are currently selling for around $40 per square foot. This is below the cost of construction. The reason this area has declined 20% more than the Phoenix metro cities is location. The residents of this community have to commute to the Phoenix suburbs to for work. This proved painful 2-3 years ago when gasoline prices went over $4 per gallon. Mass foreclosures resulted as people walked away from their homes. The good news is today you can purchase a very nice newer home and rent it for positive cash flow with a conventional loan of 20% down. I would suggest you contact the Pinal County Sheriffs Office and the Maricopa Police Department and ask for a crime report for the area to address your safety concerns. The people that I know that live in Maricopa enjoy living there. It has enough shopping to support their day to day needs and is close enough to Chandler and Phoenix for major things. If you are going to finance your purchase contact me for a lender that will finance non residence.
Web Reference: http://www.gergurroz.com
0 votes Thank Flag Link Tue Sep 14, 2010
Dear Joe:

The area is newer with much of the build up in the last 8 years. Has shopping, but far from the central commute area making rental more difficult. Renters want to live closer to work. This is also a reason that home prices are lower in Maricopa.

Renting in the central areas is always easier.

Regards, Jeff Masich
Arizona Homes and Land
http://ArizonaHomesLand.com
HomeSmart Realty, Scottsdale
0 votes Thank Flag Link Mon Sep 13, 2010
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