We are seeing a decrease in the number of offers from real estate investors.
Why?
The type of real estate investor in AZ is changing.
1) The get rich quick investor, known to most as a flipper, has moved on to greener pastures in other states. Just as vultures migrate, so does the flipper. They have moved on to states that are promising higher returns on investment, such as Florida and Texas.
2) The new investor in AZ is buying and holding. This investor is seeking more stability. This investor is tracking where people are moving, where job markets and growing and where home prices are most stable. AZ's job market is growing and AZ prices are still relatively low so investors are still buying rental properties.
While the fast acting flipper investors did help heal the AZ real estate market, the new breed of investor will sustain it.
Real estate continues to be America's second favorite investment....second only to cash. With prices low and mortgage rates also historically low, it is an excellent time to invest in rental properties in AZ and to re-enter the real estate market if you have been watching from the sidelines.
1 comment:
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