Looking for an investment property to rent for the next 5 years and then be snowbirds. How is the renting market in the Goodyear/Estrella area?

Asked by barb, Goodyear, AZ Mon Mar 18, 2013

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Erik - Huy, Agent, Goodyear, AZ
Mon Mar 18, 2013
Hi Barb,

The rental market in Palm Valley/ Estrella of Goodyear are still quite attractive compared to other areas in the valley. The rental inventory are quite low and the area is quite desirable because of the amenities surrounding it. We are located near the Luke Air Force base so we will always have an influx of air force trainees moving into the areas looking for long term rentals. I lived in the area myself for the last eight years and had seen it grew into a beautiful suburb excellent for raising a family or just vacationing. Palm Valley of Goodyear has one of the largest retirement community in the Phoenix Metro.

If you're looking for any real estate needs, feel free to contact me, i would be more than happy to assist you. I currently list a properly located centrally in Palm Valley/ Estrella of Goodyear, AZ. so if you decide to move forward with your decision or just have questions that needs answers, feel free to contact me.

Erik Dinh
Homesmart Realty
erikdinhvyp@gmail.com
http://www.WestValleyHomesPhoenix.com
602-616-7277
0 votes
Todd Kortrig…, Agent, Goodyear, AZ
Mon Mar 18, 2013
The rental market is doing quite well, not only in Goodyear/Estrella but nationally. Our West USA Realty--Estrella branch is the only office on Estrella Mountain Ranch offering property management services and our rates are very affordable (that's if you are interesting in professional management). I also live in Estrella, so if you decide to purchase an investment property here, I can hopefully answer most, if not all, of your questions. Best of luck.
0 votes
The Cascade…, Agent, Issaquah, WA
Mon Mar 18, 2013
Rentals in the Estrella Mountain area do quite well. If you are interested in properties in that area, please let us know as we have a local agent who is quite knowledgeable and would more than willing to assist. You can contact our Goodyear office at 623.738.1477.
0 votes
Sonny Shriva…, Agent, Goodyear, AZ
Mon Mar 18, 2013
Barb,

Here is a CMA (by the numbers) view of rentals in Estrella Mountain Ranch:

http://www.flexmls.com/link.html?zn5ycfxl0s8,12,1

Here is a copy of all currently available properties and those which leased in the last 6 months:

http://www.flexmls.com/link.html?zn5ychofpn5,12,1

Since I don't know what area you are targeting, you can view everything on the map and click on those properties which are in the area of Estrella that you are considering. Generally speaking, rents have dropped slightly in the last year and we are seeing longer days on market. Many people who completed short sales 2-3 years ago are now eligible to buy again, so we are losing tenants to home purchases. However, given the lack of inventory, many prospective home buyers are having to rent because they cannot find a place.

You can check out the latest ARMLS (Arizona Regional MLS) rental statistics here:

http://www.armls.com/docs/rent-check/rent-check-march-2013.p…

1 out of 8 homes in Arizona have gone to foreclosure. Those people are going to be renting for 5-7 years until they are eligible to obtain a mortgage again according to Fannie Mae. Hopefully these forces will find an equilibrium so that lease rates can stabilize. Let me know if I can be of further help.
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