Chandler and Gilbert , Which area you like a lot ? Why ? Why there is a big difference in the vacancy rate? Thank you very much for your reply.

Asked by Canadian Investor, Chandler Ginning, Gilbert, AZ Tue May 4, 2010

Gilbert 's Rental vacancy rate (percent) is 5.2
Chandler's Rental vacancy rate (percent) is 10.2

Help the community by answering this question:

+ web reference
Web reference:

Answers

5
Imran Mirza, , Arizona
Wed May 26, 2010
BEST ANSWER
I am not a realtor so fortunately I can answer this question. To answer your question, it depends on what you are looking for ? Are you into cash flow or future appreciation ? The cash flow in Chandler can be better but the appreciation potential in Gilbert is higher. 5 years back home prices in Chandler and Gilbert were dead even but now Gilbert is selling at a 10% discount to Chandler. I would expect this gap to narrow in the future. Gilbert got hit worse in the housing slump due to more new builds while Chandler was already established and didn't see as much speculative buying or buying at the peak. Gilbert has higher average household income and doesn't have low income neighborhoods like Chandler does. Chandler does have plenty of rough neighborhoods and crime is definitely higher. But you can also get better cash flow in Chandler. I prefer Gilbert and have been buying investment property here in the last year and a half because I feel its safer, you get better quality tenants and there is better future appreciation potential especially since I have been buying stuff at 70% off 2005-06 prices. At the same time I as an investor would be open to buying in Chandler if I found an exceptionally good deal. If I got something with 15% cash on cash return I wouldn't have a problem even if there was zero future appreciation potential.

Vacancy is lower in Gilbert because of the high number of foreclosures and those peoples being foreclosed are forced to become renters. 2 of my Gilbert rentals are being rented to people who were foreclosed on. Chandler also has some ghetto neighborhoods with a high number of renters where vacancy is very high. That explains the large difference in vacancy somewhat. Chandler also has a ton more of apartment building communities which have high vacancy. Gilbert does not have as many apartment communities. So that may also be a factor. I know apartment vacancies in Maricopa county as a whole are around 15 %. I hope this answers your question some what. Feel free to drop me a line if you have any others.
1 vote
Christine Ho…, Agent, Chandler, AZ
Mon Oct 11, 2010
Both areas have great benefits to them. If you go on line you can research about the towns & area. Both you will find have shopping malls, restaurants & easy access to highways. If you go to http://www.greatschools.com you can see how they each rank with schooling. It sounds like you are looking to rent once you make a purchase. My suggestion is you begin working with a Realtor now to help narrow your search & also work with a property management company. You will get the expertise of an agent helping you find the best use of your money & a property management company that can help you determine the areas that are renting the best & at what rate. I currently have another client doing just this. We have a property management division at my broker - so it has been a nice fit to help narrow down the areas - our client has described what he hoped the property has, PM has discussed what many renters are looking for & areas that are renting well & I have helped with "good deals"

Hope this helps & I would love to help you if you need an agent still.

Christine
West USA Realty REvelation
602-750-0312
cmcmahon9@cox.net
0 votes
Mark Kludy, Agent, Chandler, AZ
Mon May 24, 2010
Hello Canadian Investor,
As you have heard, we are not able to steer people to areas we like. Are you familiar with Wikipedia the internet encyclopedia? They have a ton of information on demogaphics, education, transportation, etc. It is a great source of information. They are at: http://www.wikipedia.org and search Chandler, Arizona or Gilbert, Arizona. I hope this helps. Feel free to visit my website to sign up for your free MLS search. Have a good day!
0 votes
Kent Gagon, Agent, Chandler, AZ
Sun May 9, 2010
Canadian Investor
Where are you coming up with your numbers for vacancy rates? As for which area anyone on here might like better it will vary from person to person. As Anna mentioned below, we follow fair housing guidlines that don't allow us to direct people to areas we like...it all boils down to what you like. What is nice to me is going to be completely different from what is nice to you or anyone else for that matter. Have you visited the areas? Have you done any other research on the areas besides vacancy rates? There are so many questions that could be asked to an investor you should consider hiring an agent that can help you directly in your search for a home here in AZ. Visit my website if you would like more information and to search the MLS for free. Good luck in your search for a home
0 votes
Anna M Brocco, Agent, Williston Park, NY
Tue May 4, 2010
Fair Housing Laws prevent an agent from answering--and answers are often suggestive--Visit a neighborhood several times to get a sense of “belonging”. Check out area statistics; real estate professionals are prohibited from “steering”—enticing a buyer to purchase, or not, in specific neighborhoods; so, you should check out demographics on your own to assure your comfort level can be reached.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more