Arizona Property Management & Investments
Call For a Free Property Management Quote:
(888) 777 6664
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3/12/2016
BY: Payam Raouf
Designated Broker
BY: Payam Raouf
Designated Broker
Inventory For Sale is way too low, demand is way too high, Home prices are going higher and higher taking rents up with it.
Lately, we have been getting calls from a few equity funds that
purchased several thousand homes in Phoenix Metro Area back in
2009 through 2012 asking us if we have buyers for them. We
also see a good number of Canadian and Mid-Size
investors that are putting their homes on the market for sale. Some
speculators who purchased homes in 2005 and
2006 at the height of the market are trying to do the same one way or
another. Builders are back at it again building up the inventory.
Market is moving at a fast pace as more tenants and first time home
buyers are purchasing homes. Cali-vestors are back at it as they
get more bang for their buck in Arizona. Not much flipping is going on. Margins are not simply there.
There is a shortage of rental homes throughout the valley. Rents have gone up considerably and
homes prices are going up in most areas. It looks like market is shooting back up.
Multi-Family sale prices have skyrocketed. As they are a more affordable alternative to single family home rentals. We see a lot of flipping in this area as well as an influx of 1031 exchange money pouring in to this segment.
Multi-Family sale prices have skyrocketed. As they are a more affordable alternative to single family home rentals. We see a lot of flipping in this area as well as an influx of 1031 exchange money pouring in to this segment.
Inventory of single family Homes for sale is low. We are hovering around 18500 active homes for sale on
MLS. For a city the size of Phoenix Metro, normal is around 25000.
This has made the condo prices go up substantially. We are at about
3500 units on MLS. That is a little bit above normal in comparison. So, even
if the equity funds, Canadians, small/mid size investors and speculators dump some of their inventory this year it is not going to affect the sale prices. It will just help it to go higher because the shortage will continue.
If you are interested in
renting/managing buying or selling your property(ies), please let me know
Arizona Property Management & Investments
Call For a Free Property Management Quote:
(888) 777 6664
A+ rating with BBB/ Honor Roll List with ADRE
