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Phoenix Real Estate Update.
Show me the money.
By:
Payam Raouf
Owner/Investor/Designated Broker
THE REAL INVESTORS ARE BACK! TIME TO INVEST AGAIN IN ARIZONA.
I
am so excited to report that THE REAL INVESTORS ARE BACK!
(NOT
SPECULATORS)
This
time it is all about long term investment, up to 10 years or so. They are NOT
buying just ANYWHERE. They are buying QUALITY homes in SELCTED AREAS of the
market. It is easy to generalize and say buy in N. Phoenix for example. However, that is
not going to cut it any more. Where in N. Phoenix? Which subdivision? What
are the school ratings in the area? Who manages the H.O.A.? Who is the builder?
What is the percentage of the owners' vs tenant occupied? Floor plan, Location,
Location, Location.
Tenants
have not seen rents so high in Arizona EVER. $1250 is the norm plus lots of $1500
to $2000 even some up to $3000 a month for single family home rentals. I have
never seen so many 700 credit score applicants fighting over $1500+ rental in the past 10 years.
We
were renting the same homes 3 years ago for $250 to $350 less per month and
rents keep going up along with the prices.
Individual
Investors, or a pool of them, are buying rentals in the low to mid $300,000 range.
It makes a lot of sense!
A)
They
get top dollar for it from more qualified tenants. Good tenants take care of the
property better. They have less maintenance charges, less turn overs and more
money in their pocket.
B)
They
get better yield in the long run, higher percentage of return and highest
appreciation.
D)
Fewer
headaches mean more time to make more money.
These are the most desirable properties which bring you the most rent on Monopoly Game.
These are the most desirable properties which bring you the most rent on Monopoly Game.
I
read the following report below - very informative. I would like to share with
you this:
"According
to WalletHub 8 Phoenix-area cities hit top 50 healthiest US housing
markets. The website had 14 criterias to determine rankings. Those criterias
included pricing, days on market, affordability, and other factors.
Texas
topped the healthiest markets list with the number 1 positions for large,
midsize, and small markets. Those cities were Austin, Plano, and Frisco.
Overall Arizona had a good showing on the list. Seattle and Denver were #2 and
#3 for large cities.
Here
are the Arizona cities that ranked among the healthiestreal estate markets
·
11
Midsize - Gilbert
·
22
Midsize - Chandler
·
28
Midsize - Tempe
·
35
Midsize - Peoria
·
36
Midsize - Scottsdale
·
40
Large - Mesa
·
46
Large - Phoenix
·
49
Large - Tucson
·
55
Midsize - Glendale
·
88
Small - Surprise
·
123
Small - Yuma
Overall
Arizona rental market has seen an increase in rents since January 2015 and
inventory is low. This has increased demand all throughout the Phoenix area
including Tucson. Particularly areas of strong demand where schoold districts
are ranked high among National average.
With
the surge of rental prices investors are finding tenants quicker that pay a
premium. Average annual return on investment has stuck around 9% but we have
seen better tenants and have been able to minimze investment risks. It is a
great time to buy and hold investment properties in Arizona.
Not
every home in the valley is a good investment. Look for desireable areas that
have good school districts, low crime, shopping close, and good neighborhood
zoning. These factors can help attract the right tenant for your home."
Please give us an opportunity to help you with all you rental investment properties from acquisition to leasing, managing and sale. Thank you.
Please give us an opportunity to help you with all you rental investment properties from acquisition to leasing, managing and sale. Thank you.
(888) 777 6664
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