With over fifty thousand people flooding into the Phoenix metropolitan area each year, the fifth largest city in America is growing steadily. However, home prices are still relatively low for such a desirable area. Over two hundred golf courses in the Valley of the Sun plus mountain and desert sports make this community a fantastic place for athletes. The urban economic opportunities appeal to up and coming business graduates. Everyone loves the 325 days of sunshine a year. Investors will find a large number of 'bargain' homes on the market through foreclosures or short sales. Phoenix and Scottsdale realtors are poised and ready to help Phoenix real estate investors make a killing through either rental properties or rehabbing houses and selling them for a profit.
This is a great time to get in on the Phoenix real estate market because the housing sector in the area is just starting to come out of the recent recession. Pricing for single or multi-family homes is still low. Investors looking to rent out properties will probably find more bang for their buck with multi-family homes in great urban locations. Phoenix and Scottsdale realtors can help investors zone in on the best areas for young executives, college students, and families that will need close proximity to education, work, social interaction, and good school districts. Though the initial investment on multi-family dwellings will be greater than for a single family residence, the monthly cash flow is greater, providing a better offsetting of the mortgage amount.
Rental Phoenix real estate properties also offer a more maintenance-free lifestyle than other areas of the country. Yards are often rock gardens with cacti that require very little water or upkeep. If investors want to live in another area, management companies can easily keep tabs on the rental properties in the area. Phoenix and Scottsdale realtors also team up with investors who specialize in fixing up houses and flipping them for a profit.
As a rule, houses that are in more exclusive neighborhoods or Phoenix, Glendale and Scottsdale golf communities will yield a greater profit when flipped than less expensive properties. The Phoenix area has plenty of these higher end properties that are going at bargain rates. Some residents bit off more than they could chew with their mortgage debt when housing prices were at their peak and are now in foreclosure or offering short sale transactions to get out from under that debt. Phoenix and Scottsdale realtors also list nice starter properties for new investors.