The current economic situation has left a very detrimental effect in people’s credit and living circumstances. For those who have managed to stay on top of the trend, there have been many investment opportunities rising.
In Arizona, foreclosures and short sales have been a double edged sword for owners and investors, especially in Queen Creek and Gilbert. Many new families and home owners have sought the advantages of new homes for very affordable prices. Because of the already fragile state of ownership in those houses, Queen Creek foreclosures have been on the rise and the value of homes that were cheap to begin with are drastically low.
For investors who have managed to keep their assets, this is good news. Most economists predicted that while 2009 was a downward spiral, 2010 will be a rebuilding process and 2011 is when the market should be prospering again. As you can tell by the DJIA and Nasdaq, the numbers are steadily rising as people are putting their faith back into the economy and spending more. Queen Creek Foreclosures and Gilbert short sales provide exponential investment opportunities for buying, remodeling for rent, or flipping houses.
Both Queen Creek and Gilbert, Arizona have been recorded as growing incredibly. Since 2006, Queen Creek’s population of 18 – 59 year olds has grown by 13%. Most of these residents are new home owners which has affected the stability of the housing market in Queen Creek.
CNN reported in July of 2009 (potentially the low point of the Arizona housing market) that Gilbert, Arizona was the 4th fastest growing city in the United States. Unemployment in Gilbert and the Maricopa/Phoenix Metro area has contributed to the stagnate economy, but homeowners are trying their best to salvage what is left of their credit and outstanding debt by short selling their homes.
This economic crisis has created a gold mine of real estate in Arizona with Gilbert Short Sales and Queen Creek Foreclosures. Investors everywhere are jumping at the opportunity to purchase these homes in a devalued state and hold on to them for the short period that economists predict will soon be over.
While maintaining the house can still eventually prove to be fruitful when the economy picks back up, remodeling for rent and house flipping can also prove to be a worthy investment. West coast trends are showing that the highest ROI for home improvements are minor kitchen remodels, bathroom remodels, deck addition and window replacement.
If you’re considering an investment in a short sale in Gilbert or foreclosure in Gilbert then consider all the possibilities of what you can do with the home.
If you have the expendable income and desire to invest, now is the time to jump on the real estate market for Arizona foreclosures and short sales. With some mortgage payments going as low as $191 with no down payment, these prices can’t be ignored.