Rental Market in Arizona Sept. 2009
Speeches of Federal Reserve Officials
Federal Reserve Banks objective is let the market correct itself going forward. Financial institutions are liquidating their inventories rapidly and as the result tons of foreclosures are coming into the market daily. Government has done all it can to stimulate the economy. It is do or die time.
In the past two weeks ( Sept 15 to 30 ) we have been bombarded with phone calls for rentals. These are mostly very stable families losing their homes to foreclosure. There is a betting war for rental inventories in good neighborhoods with good schools.
Due to our massive marketing efforts, advertising on over 40 web sites, we have rented most of our invesntory or have a waiting list for our new ones. Should your tenants move out, we have an immediate replacement for them.
Stock market has not been able to cope with the rapid rate of inflation, Dollar is losing its value fast, Gold is over $1000 an ounce, Silver is pushing $16, there is a T-Bond Bubble and forget about CDs. Where do you invest these day? This is an easy answer, Real Estate in Arizona where you can buy 30% below builder's cost! Rent it. It should yield 6% for the next five years then sell it at almost twice as much! Let me know if I can be of any help. Payam Raouf, Sr. Investment Advisor. firstname.lastname@example.org or 888-777-6664 ext 110.
I am not an economist...this is my opinion only. You must do your own Due Deligence.