Sunday, January 30, 2011

Investors…..STOP! It is not making sense anymore!

Investors…..STOP! It is not making sense anymore!

What is left on the REO market is literally undesirable and they are overpriced by 10 to 15 percent. Once in a blue moon, you may come across one (a fresh inventory) that you should pay 5% less for.

Here are some suggestions:Single Family Homes, 1995 or newer, 2ooo sq ft or larger, 4 bed rooms, 2 baths, 2 car garage.

Northwest Valley: Surprise, Glendale and Peoria: Stay under 135. Ask for 8% to 10% discount.
El Mirage, Waddell and Youngtown: Stay under 100k. Ask for 10% to 15% Discount
Sun City: don’t make much of an investment. Their HOA fees are too high.

South West Valley:
Avondale, Good year, Litchfield Park: Stay under 130k Ask for 8% to 10% discount.
Buckeye, Laveen and Tolleson. Stay Away for now

North East Valley: Scottsdale: Stay under 175K. Ask for 8% to 10% discount.
North Phoenix and Anthem: Stay under 150K. Ask for 10% to 12% discount.
Cave Creek, Fountain Hills, Paradise Valley, Rio Verde. Prices will continue to fall 20% or more.

South East Valley: Ahwatukee, Chandler, Gilbert, Tempe and Mesa: Stay under 165k. 5% to 10% Discount.
Queen Creek, Collage, Casa Grande, Maricopa, Gold Canyon, Florance and Apcahe Junction. Not right now. They still have ways to go down.

We are talking about single family income producing properties here… If you want to buy one to live in, it is good time to buy anywhere.

For more information call Payam Raouf 623-435-6633 ext 111 or info@azezrentals.com.