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Market Conditions in Phoenix : Real Estate Advice

  • All2K
  • Local Info158
  • Home Buying924
  • Home Selling101
  • Market Conditions70

Activity 82
Sun May 6, 2012
Linda Tatar Landau answered:
If you send me an email at lindalandaurealtor@gmail.com, I can set you up on the multiple listing service so you can see all of the lisitngs in that zip code.
0 votes 6 answers Share Flag
Sat Apr 14, 2012
Holly Brink answered:
I can help. Are you looking in a specific area or price point? You Definately want to find a Realtor to work with.
0 votes 14 answers Share Flag
Sat Apr 14, 2012
Melissa Schwartz answered:
Jeanie --- your question seems to be posting in the Phx market area even though you are up North of us! Overall in the Valley, we are starting to see an increase in prices. Agents I have spoken to recently in Flagstaff said they are starting to see a slight increase over there, but I do not know how that impacts your particular area. Good Luck, Melissa ... more
0 votes 12 answers Share Flag
Sat Apr 14, 2012
Stan Battersby answered:
I just looked on the MLS and it sold Jan 19 2012 for 1,236,000.
If you want you can go to stansellsaz.com and when signed in put the address in and it will come up.
If you have any problems please email my and l will try to help you further
stanbattersby@gmail.com
... more
0 votes 2 answers Share Flag
Mon Apr 16, 2012
Bill Matthews answered:
The Cap rate (capitalization rate) is a factor for each individual property, not an area. It's based on the initial cost, fixed expenses and the income. I specialize in income properties if you're looking for a good income producing property.
Bill Matthews 602 390-3999
... more
0 votes 4 answers Share Flag
Tue May 15, 2012
Sonny Shrivastava answered:
Hello - what a great question!

Whether or not it's a "good time to buy" depends on what you consider "good" and what your goals are. If you are wanting to buy a home as a primary residence, I can tell you that inventory is the lowest it's been in the last five years. I sell an average of 100 short sales and foreclosures annually, and we have multiple offers way over asking price on almost every single listing. This is now the norm in our market.

If you are an investor, cash flow opportunities abound. I sold a condo to one of my investor clients for $61,000. It will generate $800/mo in rent. The buyer put down 25% and financed the purchase using conventional financing. The cash-on-cash return is close to 30% - other than Apple stock, where else can you invest your money and get that kind of annual return?

We have seen market appreciation in the Phoenix area since November of around 1%-2%, and forecasts point to positive signs moving ahead. You should remember that real estate markets are local, so what you read about and hear in the national media has little relevance here in Phoenix. We were the first bubble to burst, but we are also the first market to show dramatic signs of recovery.

Please give me a call at 480-302-9650 if you would like expert buyer representation at no cost to you. We are in the top 3% of all agents according to the Phoenix Business Journal and are experts in this field. We will take great care of you!
... more
0 votes 10 answers Share Flag
Mon Feb 27, 2012
Brenda & Ron Cunningham answered:
Nosiddam

There are many good areas for an investor to purchase in. Each home needs to be looked at for its ROI. Some areas that have been great, unfortunately have been saturated with investors, so everything needs to be taken into consideration. It is best to work with a Realtor that knows the market and can advise you accordingly.

Best Regards,

Brenda

Ron & Brenda Cunningham
West USA Realty
602-980-3133
**** Recognized in the Phoenix Business Journal as "One of the Top 50 Realtors in the Valley" ****
... more
0 votes 5 answers Share Flag
Wed Feb 15, 2012
Doug McVinua answered:
Zoran

Most of Deer Valley does well, minimize the freeway noise and stay close to shopping etc and they rent well.

Tenants often want convenience.
0 votes 3 answers Share Flag
Sat Mar 31, 2012
Doug McVinua answered:
Zoran

Yes, I have lenders that will loan to Canadians for purchase in Arizona.

What area do you prefer for the home you want?
0 votes 12 answers Share Flag
Wed Dec 28, 2011
C Michael Crowley answered:
I am optimistic that prices will go up in the next few years. If you are set on buying a manufactured home, you
should strongly consider buying some land or lot with the home. I can send you some listings in the Phoenix
area..Mike Crowley, Prestige Realty aptmike@msn.com
... more
0 votes 8 answers Share Flag
Fri Oct 28, 2011
Greg Paielli answered:
Hi T Jay,
I always recommended single family over condo for renting. I think they are better value and the exit strategy is better. I also believe that you have a better chance at retaining a long term tenant. The downsides to a single family is that you personally have to maintain the exterior of the home versus the association managing the grounds and pool. The rental market is doing very well and I think that you will do well if you make careful decisions and buy the correct type of property in the right location. Good Luck ! ... more
0 votes 10 answers Share Flag
Tue Oct 18, 2011
Miritssa Casas answered:
We have several zip codes which are red hot at the time. Investors both in the US and abroad are buying these homes due to the high return on investment.

Feel free to contact me if you would like additional information.

Milly Casas
Milly Sells AZ

e-mail: milly@millycasas.com
... more
0 votes 10 answers Share Flag
Tue Jul 12, 2011
Sherayn Allen answered:
This is my favorite area in the valley! It does have a lower vacany rate than most as there aren't as many rentals here as some areas nor large apartment communities. The rentals that I have seen usually fill quickly due to convenience of both uptown and downtown, as well as the quiet charm of the area, as long as they are priced competitively.

Are you looking to rent a home you already own or buy one here to rent? Either way My team and I at Century 21, All Star Realtors could make landlording a good experience for you!
... more
0 votes 1 answer Share Flag
Thu Jul 7, 2011
Fred Shocklie answered:
You really need to talk to a lender. I have two I can refer you to if you would like to call my office at 602-330-1850.

Fred Shocklie
0 votes 7 answers Share Flag
Thu Feb 10, 2011
Jonas answered:
Hi there,


The true value of a condo at Avalon Hills will be what someone is willing to pay for it. Have your Realtor pull the comps from that area and find out what the last condo in there sold for within the last 6 months. The will be your answer.


Jonas Mancuso
Remax International
www.talktohouston.com
... more
0 votes 8 answers Share Flag
Wed Dec 1, 2010
James Wehner answered:
One reason is that Phoenix was one of the nation's cities that saw one of the highest home value increases. It basically corrected itself in comparison with other cities. There was also a greater amount of speculation and investor purchases in Phoenix than many other cities, therefore, many investors and second home owners decided to walk from these homes.

When you have a high number of foreclosures in one area, it tends to push the prices lower.
... more
0 votes 7 answers Share Flag
Wed Nov 3, 2010
Maureen Thelen answered:
You might want to do a search on www.loopnet.com for properties that are similar in size and location to your property or property you may want to buy. It will give you a good idea of what space is on the market, asking rents, and cap rate ranges. ... more
0 votes 0 Answers Share Flag
Wed Nov 3, 2010
Jeffrey Masich answered:
Dear HomeBuyer:

Tempe is a good rental market if you are thnking of the future. ASU has the largest student population in the US. No HOA fees helps you control unknown future costs. The serenity and lifestyle of the neighborhoods is an important consideration. Drive through the neighborhoods on the weekend evenings and daytime and talk to the neighbors. This is the best way to get "real" input.

Your Realtor can help you with the previous purchase price of the homes you are interested in, taxes, comparables etc.

May I wish you the best!

Regards, Jeff

Jeff Masich, Realtor
HomeSmart
Scottsdale
http://JeffMasich.com
... more
0 votes 8 answers Share Flag
Wed Oct 27, 2010
Ann Howell answered:
Business in the Prescott Area is booming. The tax credit is gone but we are into our prime season. I am seeing the price point inquiries jumping - there are many bargains in the area and activity is brisk. To keep up with the Prescott Area market you can find statistics on my website - see below. ... more
0 votes 12 answers Share Flag
Mon Nov 1, 2010
North Scottsdale Real Estate answered:
I have some information on my website about the current market conditions at Desert Mountain in North Scottsdale. Feel free to visit my Recent Sales page at:
http://www.desertmountainhomesonline.com/DesertMountainRecentSales.php

You can also read about recent market conditions in 85262 by visiting:
http://www.desertmountainhomesonline.com/Blog/desert-mountain-85262-current-market-statistics/

Feel free to call me at (800) 300-0263 if you have any questions about the North Scottsdale area.
... more
0 votes 6 answers Share Flag
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