Victoria & Rich,

Property value are rising steadily, in fact, so much that homes that are selling here in Arizona are not appraising out with lower priced comparables out there. The multi unit properties seem not to have been keeping the pace with single family residences price increases and supply. With the proposed rail-served transit center development (1,600 Acres) reportedly to break ground this next year, rental here in Arizona City will be at a premium.

Elizabeth Drew, Better Homes Realty AZ
(520) 709-0253

Hi, Rick ... part of your question isn't showing, but I'm guessing the second half was saying that you own multi-family units in Arizona City?

If that's the case, multi-family is slow in general and I'd expect it to be slower in Arizona City. In general, the market in Pinal County has declined more than the market in Maricopa County over the past several months. One of the reasons is a lack of commercial development (i.e., a lack of retail convenience) in the county as a whole when compared to Maricopa.

I wouldn't expect to see a recovery in Arizona City until the Phoenix area in general has started to rebound, given the remoteness of the town. Take a look at what's happened in Queen Creek and Maricopa - when you see some movement there, it's possible Arizona City may follow.

That's my two cents, at least.