Villa De Vallarta Homes for Sale List

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Top Three Tips to Know When Buying AZ Real Estate

Three Tips for AZ Home Buyers

Here are a few tips that can benefit AZ home buyers:

1. Look to the future of AZ real estate: Real estate values are constantly changing. Look for an area that has a potential to increase in value. Good schools and designated future commercial development areas are a good place to start. Is it an area of future growth? Is it an area where people want to live? Is it a transitional area, declining area, or growth area?

2. Don’t forget to research any external factors for your AZ home purchase: Make sure you know what is in the immediate proximity to your prospective home. Are there railroad tracks or airports close by that will produce noise pollution? Are there any Brownfield or Superfund sites effecting your drinking water? Are there canals or industrial complexes in the area?

3. Place your offer according to the AZ real estate market: Is it a sellers’ market or buyers’ market in your neighborhood? If you are an Arizona buyer in a buyers’, market don’t hesitate to pay less than asking price. However, if you get into a multiple offer situation, place your offer at the highest amount you would want to pay. That way if you don’t get your offer accepted you wont feel regretful that you didn’t offer more.

Should you buy Arizona short sales?

What should you know about Arizona short sales?

If you are looking to buy a home or an investment property in Arizona, where do you start? First of all, you need to identify what type of property you want. If you decide on a single family home versus a four-plex, then your next step is to decide what type of sellers do you want to deal with. Here are a few different types of sellers.

1. Regular seller- just a normal scenario home owner who wishes to sell his/her house and hires a Realtor.

2. Arizona Foreclosure Sale (Trustee sale)- These are banks auctioning off foreclosed properties to the highest bidder.

3. Arizona REO properties- These are properties that did not sell at the auction and the bank then hires a Realtor to sell the home.

4. Arizona Short Sales– These are home owners that want to sell, but they owe more than the house will sell for. They need the banks okay to sell at this low amount.

If you decide you want to pursue a short sale option, there are a few items you will want to know.

A. The short sale process takes a while to complete–typically 3-6 months.

B. A few months into the process the bank could reject the purchase price.

C. The values could change during this process.

D. The asking price is arbitrary unless it is approved.

If you are a person who can wait and are flexible on price, these Arizona short sales may work for you. Otherwise, RCP can help you filter out Arizona short sales in your homes for sale search. Arizona short sales can be tricky. Let us explain in detail all about Arizona short sales! Call us at RCP.

Scottsdale Investment Property

Buying Scottsdale Investment Property

Scottsdale investment property can be very rewarding. There are a few different types of Scottsdale investment properties depending on the type of investor you are. If you are out of the state or out of the country, you will probably want a property management company to handle the day to day items. If you are looking to buy and flip, there is no need for property management, however, you want to buy and sell for the right price and in record time. Scottsdale investment property is broken down into:

Single family: A regular house used as a rental, or bought to fix up or remodel and flip to a new buyer.

Multi-Family: More than one unit or building, i.e duplex, tri-plex (3-plex), four-plex, or bigger.

Commercial or Industrial: Retail, restaurants, office spaces, medical offices, etc.

There are many opportunities in Scottsdale investment property. Investors from Canada and right here in the states are buying in historic districts and other areas at a fraction of what their resale value is. After a considerable remodel, they sell these properties for top dollar. Other investors are buying Scottsdale investment properties for their rental value. The rental market in Scottsdale is strong and single family homes can make a good return. Some of the best deals are being found in investing in multi-family real estate. These properties can provide an amazing CAP rate for your portfolio. Call RCP to explore your options.