Vacation rentals and more
Hi, and welcome to the weekend. Prices continue to rise throughout the Phoenix metropolitan area. Home values really haven't shown any sign of a real slowdown whether it is out east in Queen Creek or west toward Buckeye or anywhere in between. Many people are waiting for the "bubble to burst", but it seems that the majority don't see it that way. Look at other more expensive markets; how many times did people say, "can you believe these prices? There is no way it could go higher." Yet they did and still do. That is part of why we are experiencing a boom in Phoenix. Home values have gone up close to 50% in towns like Gilbert and Chandler in just the last year alone. And not just there - throughout the valley this is occuring. Most people don't expect that kind of increase this year. But even if it was only 10% (I think it will be better than that) where else can you get that kind of return on your money? Better yet, if you only put 10% down, that equals a 100% return on your investment. How awesome is that?!
I will be looking at a couple of condos that can be used for vacation rentals tomorrow. I may sell both of them. If you are interested in this kind of property, give us a call.
Have a great weekend.
ADAM TARR
SHARON KOTULA