Watch on your mobile device >>
We have seen a massive increase in home prices, a 24% increase from last year. There are a lot of buyers and little inventory.
How
many homes are available as possible investment properties right now?
There
is an extreme lack of inventory. There is about an 11-15 day supply of
move in ready homes. This is the lowest it has been in four years.
Buyers are having a very hard time finding move in ready properties.
This
doesn’t mean, however, that there aren’t homes that can be fixed
up. It is an ideal time as an investor to create a ready product for
buyers needing loans under the FHA loan limit.
What’s
the outlook for the tenant and homeowner demand over the next 12
months?
State
Farm Insurance is building the largest office complex in Arizona, right here in Tempe. This development is expected to create a lot of jobs and bring more new businesses to Tempe, creating the need for more move in ready homes in the surrounding areas.
