20% CAP Foreclosure Rental Properties – March Resale Prices up 13%
Trustee Sale Auctions – Phoenix Foreclosed Homes, Condos, Real Estate
While economists and other outlook ‘experts’ begin chirping time-frame predictions of ’3-4 years’ for when the Phoenix Valley and the rest of Arizona can expect to see a full economic recovery, R.E. and taxable resale statistics rolling up for March 2010 provide tangible data pointing towards slight procession. Arizona retail sales rose year-over-year for the first time since November 2007, while average home resale prices came in at $144,500, up from $127,500 in March 2009.
Single-family home-building permits are expected to jump 40% this year according to sentiments passed around the W.P Carey Economic Outlook Center luncheon held last Thursday April 22nd. Job growth for the Phoenix Metro area and the State of AZ is anticipated to trend upward beginning 3rd quarter 2010, a positive outlook as the State currently sits 5th from the bottom for new job development.
The total number of homes reselling in March jumped 10% as NAR Chief Economist Lawrence Yun speaks encouraging words for investors chiming, “…foreclosures are selling quickly, especially in the lower price ranges that are attractive to first-time home buyers.” The National Association of Realtors is reporting figures showing broad home sale recovery in every part of the country except for the New Orleans area market.
In reality, with federal oversight petering out, the impact of ‘in motion’ policies as they correlate with the progressing housing markets won’t come to clear vision until the end of the year. So until then, we’ll really never know whether this particular free market interference provided a spark plug, or a crutch.
Ultimately, ‘whether’ to buy foreclosed real estate in Maricopa, Pima and Pinal Counties is not in question… it’s a no brainer. With home and property prices this low, renters in abundance, the right rental in the right place will cap 20%. Foresee and pursue homes calculating at cap rates of 10% for the next 24 months. Portfolios are shining for buy and hold investors… don’t miss the boat.
The Phoenix Valley will remain a highly desirable locale for full-time and part-time residents… it has everything. The 5 c’s of old, attraction for technology, industry, recreation… opportunity… progression. Get in contact with our group of consultants and service reps and tell us a little bit about your wants and needs.
Beyond our proxy bid services available every weekday, for every trustee auction sale location, we can pull scheduled property sales well in advance for the cities and regions of interest and perform due diligence.
We run titles in-house, then ensure correct data on encumbrances in reports a second time through our co-operating title service. The offer of title insurance will be there to remove the looming risk that hovers over trustee sale purchases.
Give us a shout through the phone – (480) 444-6110 … or contact us through skype AllianceBidServices. Please use the short form below and someone will get with you asap. (CLICK HERE for BIDDING Agreement/Contract Form) Email us or get with us over the phone for real-time drop bids and daily drive reports.
Alliance@phoenix-foreclosure.com
Don.juvan@alliancebidservices.com
—
T.T.S.
Tanner.shell@alliancebidservices.com
Ready to Start BIDDING on Foreclosed Properties Selling at Weekday Trustee Auctions?
$5,000 Up-Front Bid Deposit Required Along with Service Surcharge Fee (Due Upon Successful/Winning Bid – Discussed with Rep.) and Signed Bid Agreement/Contract.
Requirements = Cash Buyer, Hard Money Financing