Phoenix Market!!!!!

Phx investors, I’m curious to know are there any good deals out here in phx…I know the market isnt the greatest right now but every deal I come across is a dud…Its either because the house it too old or the area just isnt good enough…I just want to know if there are any good deals out here in PHX…Please can I get some feedback on who are doing deals out here…I just need that reassurance that its possible to get a good deal out here…Where are the investors making money in PHX!!! Please give me some feedback…

I guess I answered my own question…Thx anywayz

Phoenix was always a tough market to deal with (last 10yrs anyway). Either you have/had a lo of amateur investors pushing prices up to 80%+ or you have them living in the past thinking that prices are going to appreciate 10% per month.

You need patience buddy, otherwise your going to quit before you get started.

Good luck to you.

I’ve been searching Phoenix for the last 2 months. I haven’t come across anything that would come close to a deal.

Go to www.housingpanic.blogspot.com for a beautiful chart of the Phenix housing market.

CRASH, BUST, DERAILED, FALLING, DEPRESSED, all good ones to describe things down there.

Phoenix investors are

  1. crying
  2. filing bankruptcy
    and/or
  3. coming to Texas.

So what everyone is saying is that if you’re in Phoenix, you’re SOL at the moment. I’m trying to break into this business and it looks like I’ll be sitting on the fence for a while. Bummer. I’d like to invest in Austin or some other Texas area but I can’t move there.

From what I’ve read, investing out of state is tough for a new invester, especially when they don’t know the area. If anyone in Texas wants to help a new investor from Phoenix along, fly me an email or a PM. :slight_smile:

Rents in the Phoenix area have continued to increase….and will continue. The brokerage firm Marcus & Millichap predicts an increase of at least 4% for 2006.

There is a greater need for homes now than ever before in Phoenix. Population growth expected to be at least 100,000 new residents annually throughout the decade.* Population increases should cause property values to rise. Property values may not increase at a rate we’ve become accustomed to the past 5 years, but the laws of supply and demand should prevail.

Rising home prices will generate a stronger demand for rental properties, yielding higher rents, lower vacancy and greater revenues.*

Job creation in Phoenix is forecasted to expand the local economy at twice the rate of the national economy over the next 5 years.*

Influx of Foreclosures means that the market will be flooded with renters due to banks unwillingness to lend.

Jim Thomas

Written like a true REALTOR!!!

Love the “influx of foreclosures”= higher prices theory (always a winner)

He forgot about the great employment opportunities available in food service & retail to all those displaced former home owners now renters.

Predictions from BROKERAGE FIRMS!!! WOW, were do I sign.

I’ve got a termite infested, NO heat or indoor plumbing, 80 year old, swamp for a back yard, bungalow for sale. lets’s take turns giving it the “Professional Real Estate Brokerage” treatment…I’ll go first!!!

WATERFRONT… Hurry!!! FIRST TIME OFFERED!!!Unique opportunity!!
Historic Bungalow, beautiful details, cuddle up to the wood stove on cool summer nights, Enjoy year round breezes from your custom made outdoor shower, lot’s of wildlife in beautiful backyard, Perfect vacation home. Needs some updates but could be a show piece with a little elbow grease. Perfect vacation home. Won’t last call JIM!!!

Gotta love sales!!!

I think has more to do with the investor than it does with the market. I dont want to talk out of school but I think you could make money w/ real estate in any market IF you have the skills or willing to adapt those skills to the changing market.

Rents in the Phoenix area have continued to increase….and will continue. The brokerage firm Marcus & Millichap predicts an increase of at least 4% for 2006.

Great! So, the new landlord will be able to stay in business an extra month until he goes broke! Negative cash flow is negative cash flow. A little less negative just means the suffering is prolonged. Who are you trying to fool here?

Mike

Rents in the Phoenix area have continued to increase….and will continue. The brokerage firm Marcus & Millichap predicts an increase of at least 4% for 2006.
Does that big 4% even cover the recent cost of living increases on things like fuel and electricity? Have you been to the supermarket lately, everything has increased at least 10%. And let's not forget, it's *2007* not *2006* so what do these numbers tell us for THIS year, nothing. Last year's re market in PHX is a lot different than this year's market.