Two things are true when it comes to investment dollars being spent Arizona. In the best of times, investors jump full force on the real estate bandwagon - most recently writing loans for everything from subdivisions in far-flung cities and towns to attractive urban condos in downtown Phoenix and Tempe. In the worst of times, investors also gravitate toward real estate, hunting for bargain buys on foreclosed homes and commercial properties as they bank on population growth to help Arizona's economy make a comeback.
Stan Barnes, CEO of Copper State Consulting in Phoenix and a former state lawmaker, said those with established money in the Valley still feel more comfortable investing in real estate developments - even after market falls apart like the current one - rather than taking chances on startups or entrepreneurs.
"People in California chase new high-tech companies. People in Texas drill for oil. People in Arizona invest in real estate. That's just the way it is, and likely will be as long as we are the fastest-growing state in the union," said Barnes, whose firm does political and communications consulting for private-sector professionals.
In many neighborhoods in Arizona, particularly the Phoenix Metropolitan, there is a shortage of traditional sales. Up to 75% of the market may consist of short sales and foreclosures, limiting the options of many buyers. Arizona Investors looking to flip see great opportunity in fixing up and selling homes to these buyers, eliminating the wait time of short sales, or the challenges bank-owned homes may come with.
Arizona real estate investors are also seeing the opportunity in holding real estate long term, as both prices have come down and in many areas rental rates are up. We have probably never seen a better time to invest in real estate as we do in 2010, as real estate cash flow and return on investment are the best they have been in over a decade.
If you are an investor looking to take advantage of this ideal real estate climate, please contact Scottsdale Real Estate Broker Jen Wehner right now at email- Jennifer@JenniferWehner.com
Stan Barnes, CEO of Copper State Consulting in Phoenix and a former state lawmaker, said those with established money in the Valley still feel more comfortable investing in real estate developments - even after market falls apart like the current one - rather than taking chances on startups or entrepreneurs.
"People in California chase new high-tech companies. People in Texas drill for oil. People in Arizona invest in real estate. That's just the way it is, and likely will be as long as we are the fastest-growing state in the union," said Barnes, whose firm does political and communications consulting for private-sector professionals.
In many neighborhoods in Arizona, particularly the Phoenix Metropolitan, there is a shortage of traditional sales. Up to 75% of the market may consist of short sales and foreclosures, limiting the options of many buyers. Arizona Investors looking to flip see great opportunity in fixing up and selling homes to these buyers, eliminating the wait time of short sales, or the challenges bank-owned homes may come with.
Arizona real estate investors are also seeing the opportunity in holding real estate long term, as both prices have come down and in many areas rental rates are up. We have probably never seen a better time to invest in real estate as we do in 2010, as real estate cash flow and return on investment are the best they have been in over a decade.
If you are an investor looking to take advantage of this ideal real estate climate, please contact Scottsdale Real Estate Broker Jen Wehner right now at email- Jennifer@JenniferWehner.com
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Visit Scottsdale AZ Real Estate Broker Jen Wehners website for FREE property searches at www.PrimeAZrealestate.com or you can get more insight about all things to do with Scottsdale-Phoenix- Fountain Hills area properties then visit my blog at www.JenWehnerBlog.com
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