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Phoenix Arizona Investment Property

Phoenix Light Rail Real Estate Investments are a No-Brainer.

November 24th, 2008 8:56 AM

A light rail car on Washington street in east Phoenix.

Phoenix Light Rail Car on Washington Street

Downtown streets of Phoenix Arizona will never be the same after 2008 when the Phoenix Tempe Mesa light rail operations are expected to begin. Sleek, futuristic rail cars stretching 90 feet and carrying 150 passengers will zip along 20.3 miles of track, linking Central Avenue to Sky Harbor International Airport, Tempe, and Mesa. Light rail stations along the route are expected to spark new transit-oriented development catering to the urban dweller, everything from condominiums to townhomes and coffeehouses to drugstores, dry cleaners and other service providers. There is still plenty of good real estate investments throughout the Phoenix light rail corridor. Residential Real Estate in the area has showed signs of revival. Real estate property investors are getting in line to get their hands on some of the prime investment property available in the
Arizona light rail corridor. Keep in mind, we are still in a distressed foreclosure market where bank owned REO property at rock bottom 30% to 60% bellow contemporary market value. Don't wait, receive our daily Bank Owned Hot List in the Phoenix light rail corridor.

Posted by Angel Karchev on November 24th, 2008 8:56 AMPost a Comment (0)

Phoenix Arizona home sales are up as of November 2008

November 21st, 2008 9:44 AM

The latest National Association of Realtors read on the housing sector shows an industry still in shambles, but a bright spot in Phoenix Arizona.

According to the group’s third-quarter report, the largest sales gain among states — 28.3 percent over the second quarter — was in Arizona. Of course, California and Nevada were close behind.

According to research from Arizona State University Realty Studies, the high rate of foreclosure homes is pushing down home values across Greater Phoenix. For the traditional or as we like to call it straight sale (non-lender owned) sales market, the median price of a subject resale home in Maricopa County was $175,000 in October, while foreclosed properties had a median price of $159,775. One year ago, the median prices were $250,000 and $218,225, respectively. RealVision Group has a Market Review Newsletter of the Metropolitan Phoenix area that will keep you current with the investors real estate market.

According to NAR, distressed sales – foreclosures and short sales – accounted for 35 to 40 percent of closed transactions in the third quarter, pulling down the national median price for resale homes to $200,500. That is 9% lower than the third quarter of 2007. Great time to step out of your safety net, and become an active investor in the Arizona Real Estate Market.

Posted by Angel Karchev on November 21st, 2008 9:44 AMPost a Comment (0)

North Central Phoenix Investment Properties are always a good idea

November 19th, 2008 9:04 AM

North Central Phoenix offers many multifamily properties like four-plexes or similar which not only make very good investment, but better positive cash-flow than house or a condo.

Small Multifamily Property In Central Phoenix

Central Phoenix is one of the best places for living in the valley. That's part of why the median price is $290,000 and homes go up to well over $1,000,000. It's the central location, the abundance of shopping, entertainment, jobs and excelling schools -like the Madison Schools district - that make this area so desirable and a great investment opportunity for investors.

The same reasons that make this a popular area for home owners makes it one of the best areas for Phoenix real estate investors not only in homes but in small and medium sized apartment buildings.

The desirability means higher rents and lower vacancy: both physical and economic vacancy but, it also means that the price for the properties is higher. Remeber that as cliche as it might sound, Phoenix real estate prices are based on Location, Location, Location!

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Posted by Angel Karchev on November 19th, 2008 9:04 AMPost a Comment (0)

Phoenix Arizona Real Estate Market led the nation in declines...time to pick up Phoenix Investment Property

November 18th, 2008 11:30 AM

The hardest hit of all 20 cities on a year-over-year basis was Phoenix, where home prices plummeted 30.7% during the past 12 months. Las Vegas prices plunged 30.6% and Miami sank 28.1%.

Homes are selling for under 100K through out the Metropolitan Phoenix Market. The only question you need to ask yourself is:

Can this investment property be leased out for at least $600 per month?

That seems to be the going base rate for single-family homes in Phoenix Arizona.

For the most part these are not luxurious Cadillac homes, but overall good rentable condition: 1,400sf and above, stucco and tile, built 1995 or later, with back yards and garages. Phoenix investment properties of such attract good renters — $800 per month and above in most cases — and many of them will be appealing to owner-occupants on resale a short while after the market takes a turn for the better

Phoenix Investment properties make good sense when leveraged to the point where the rental income covers all costs to acquire and maintain. Most mortgage lenders require 25% down for the best rates available today. On a $100,000 Phoenix investment property purchase price, that means that an investor will need some $30-35,000 for down payment, closing costs, and repairs to make the investment home tenant-ready. A $75,000 loan will most likely have a PITI payment of about $600.

"Don't be afraid to be one of the first in line to reap the benefits of this down, but not out Phoenix Investment Property market.

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Posted by Angel Karchev on November 18th, 2008 11:30 AMPost a Comment (0)