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Rent vs Buy in Maricopa County : Real Estate Advice

  • All38
  • Local Info1
  • Home Buying23
  • Home Selling3
  • Market Conditions0

Activity 29
Thu Mar 2, 2017
Rachelavalos25 answered:
My is Rachel Avalos and i have bad credit and i also have an eviction on my record I'm staying at a friends house in the living room floor with my family i have a daughter that is about to have her baby by the end of the month if you can please help us my number is 480-548-2120 I really would appreciate it thank you or you can email me at Rachelavalos25@gmail.com ... more
0 votes 30 answers Share Flag
Wed Jan 4, 2017
Iamdarlene4 answered:
There's a 55 plus park in Mesa and I'm pretty sure it's called Mesa East. They own their own land there.

Here's an example. http://www.highgarden-phoenix.com/mesa/mesa-east-homes

Another is Fountain of the Sun but it's a bit more pricey. That also is a 55 plus park and they own their own land.
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0 votes 2 answers Share Flag
Sun Dec 27, 2015
Sally Grenier answered:
Rent to own homes are pretty rare these days. They used to be more common when we were in a strong buyer's market (more sellers than buyers) and sellers would offer rent to own as an option to attract more buyers. However, most parts of the country are now in a very strong sellers market. Sellers want to sell, not rent to someone who may or may not qualify down the road.

Plus, rent to own is never a good option for a buyer. You're typically paying a higher rent, and that money may or may not be going toward your down payment. Plus what happens if you get to the end of your lease, and you still can't qualify? The seller can just keep your money. Why not use this extra money you plan on spending and put it toward paying down or paying off your debts?

I assume you're asking about rent to own because you can't qualify for a regular mortgage (due to credit issues)? You need to figure out what is keeping you from buying now, and fix those issues so you can qualify for a traditional mortgage down the road. Good luck!
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1 vote 1 answer Share Flag
Sun Aug 10, 2014
Zak Himmelberger answered:
My experience helping clients with bad credit find rentals has been pretty straightforward. Credit didn't so much matter as did their ability to pay the rental amount and demonstrate their ability to pay with proper documentation such as paystubs, bank statements, etc. - Credit does matter but in my experience it has not the most important factor when choosing a renter. If you haven't had any previous evictions from rentals and have no violence or drug related criminal history, in my opinion, you shouldn't have too much trouble trying to find a rental.

You may offer to pay a higher deposit or first and last month's rent upfront as a way of demonstrating that you're serious and ready, able and willing to do what you must to rent a property.
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0 votes 1 answer Share Flag
Sun Jul 13, 2014
James Wehner answered:
I can help you with your options. Depending on your situation, there are more appropriate times to rent vs. buy and vice versa. We can work through the different scenarios with you.
0 votes 6 answers Share Flag
Tue Jan 28, 2014
Angela answered:
I have a furnished 2 bed / 2 bath home in Terravita subdivision off of Scottsdale Road in Scottsdale that I would be willing to rent out in a long term lease, but it is not for sale.


Text 815.529.8597 if interested...

Best,

Angela
... more
0 votes 9 answers Share Flag
Thu Dec 5, 2013
Robert Baker answered:
Their probably is one, what is your question?
0 votes 10 answers Share Flag
Fri Aug 9, 2013
Gary Geer answered:
ceciliawoodbeck,
Your fist step is to ge pre-approved for a loan. Contact a local lender professinal to get that done. This will establish your price range of properties that your agent can use to find homes that match your criteria. Yes you can look at town homes that are listed at a lower price than what your leder has approved you for. Then go out with your agent and learn about the market by viewing some of the homes. This will help you refine your search and identifiy a great deal when you see one. I wish you all the best. ... more
0 votes 5 answers Share Flag
Sun Jul 28, 2013
Roy Bush answered:
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. I introduced a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again. ... more
0 votes 9 answers Share Flag
Fri Jun 21, 2013
Bianca Bennett answered:
Are you currently working with an agent?
I would be happy to help.

feel free to contact me directly


Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: www.InvestInArizonaHomes.com
... more
0 votes 16 answers Share Flag
Tue May 21, 2013
Troy Erickson answered:
You can actually do some things to improve your credit score within a matter of a week. It all depends on whether you are willing to do the work, and pay the price in may cost you, but in the long run, it may be very beneficial. It is called a Rapid Rescore, and I can get you in touch with lenders that can help you out.

Also, a letter explaining your situation may help. I have had several renters with negative items on their history, but a letter explaining their situation cleared matters up, and they were able to rent.

A stable job is good, and if you have a stable rent history (with receipts), that will help as well.
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0 votes 5 answers Share Flag
Thu Feb 7, 2013
Ryan Buckley The Premier Group answered:
Ryan Buckley Realtor®
Turning your Dream into an Address
Coldwell Banker Residential Brokerage
480-440-4541
ryan.buckley@azmoves.com
http://www.liveinscottsdale.com
http://www.facebook.com/rcoldwellbanker
twitter @rcoldwellbanker
... more
0 votes 2 answers Share Flag
Sun Nov 18, 2012
Doug McVinua answered:
0 votes 13 answers Share Flag
Fri Nov 2, 2012
BarbAlva answered:
I'm wondering if you ever moved to Phoenix. I was just in Minnesota a few months ago and really enjoyed my stay. But returning to AZ surely puts a smile on my face as well. Hope things worked out for you but if you haven't decided, I would prompt you to visit the Arizona Regional Multiple Listing at http://www.armls.com/docs/rent-check/rent-check-october-2012.pdf. It's a great website to use for gathering information about our communities. Please let us know if we can help! ~B. ... more
0 votes 6 answers Share Flag
Fri Oct 5, 2012
Loren Hoboy answered:
Lease to own can be legit, but many are expensive. some are scams or extremely expensive. You are probably going to pay 8% interest and the agreed purchase price can be a price that the the investor has inflated for his risk. Be very careful. If your Buyer's agent is not experienced with "contract for deed", get some one that is. Dont use the Seller's agent or if you insist, hire a real estate lawyer to protect you.

You may be a candidate for a USDA loan. 0% down , house must be in a "rural " area.

USDA – Rural Housing Development Financing (0% Down)

The United States Department of Agriculture has for years made ZERO down financing for homes located in rural areas. While this “rural” location may not sound appealing at first, the areas depicted on their maps have, in many cases, crept into suburban metropolitan areas. In the Phoenix metro area, Queen Creek, San Tan Valley, Buckeye, Goodyear, Surprise and even Maricopa have addresses that qualify. I and your lender have access to the USDA website to determine if the property you’re considering qualifies for this loan program. With NO MONEY DOWN, a buyer can purchase a home and possibly finance even their closing costs!

Call for more info.
Loren Hoboy-Realtor
Your Local Expert
Central AZ Real Estate
LHoboy@centralAZhomes.com
623-688-0004
... more
0 votes 2 answers Share Flag
Tue Sep 25, 2012
Sara L. Krueger answered:
The question seems to be, should you rent or buy in Scottsdale? There are a lot of variables to that, have you visited here before and familiar with Scottsdale already? If so, you may already know where you would like to live and know about out great city. Then I would recommend to buy for sure. Interest rates are so low and housing prices are low as well. If you never have been here before, renting could be a good way to feel it out and decide where you want to live. Keep in mind, however, how expensive and awful it is to move again when you buy! To avoid that hassle I would come here for a visit first, I will show you around to the different areas and then focus more seriously on what is best for you. For instance, "How long will you be living here? Is this temporary? If your husband shows all over the U.S. would being accessible to the airport be important?" Feel free to call me to discuss further, with no obligation. Feel free to jump on my website to view live MLS listings. Save yourself the trouble of looking at old listings on those other websites.

Sara Krueger
480-215-5435
http://SaraKrueger.com
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0 votes 5 answers Share Flag
Tue Sep 25, 2012
Jennie Miller, Pllc answered:
Welcome to Arizona! Feel free to contact me if you are interested in renting or buying a home in Phoenix. I have extensive referrals from my clients on my profile here on the trulia site so that you can see the quality of my work. You can view my profile by clicking the picture to the left. ... more
0 votes 10 answers Share Flag
Mon Sep 24, 2012
Jennie Miller, Pllc answered:
Are you considering purchasing a home, renting a home, or are you an investor?
0 votes 4 answers Share Flag
Sun Sep 23, 2012
D. Elizabeth Vincent, AssocBroker answered:
Contact a reputable CPA for a complete answer. Some cities charge a rental tax of usually 1.5% to 2% a month. FIRTA applies to all foreign investors when they sell their residential properties.
Elizabeth Vincent 602 85-2476
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0 votes 6 answers Share Flag
Thu Feb 23, 2012
Ann Griffin answered:
Single family home rentals are hot right now. After all, those unfortunate people who lost their homes still have to live somewhere! In fact right now it is tough for a buyer who needs a mortgage to write a competitive offer for lower-priced homes, and this is pushing some of them who'd prefer to buy, to rent instead because they just can't get their offers accepted. So it's working very much in favor of the investors right now.

Ann Griffin
480-789-9584
ann.griffin@pruaz.com
... more
0 votes 3 answers Share Flag
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