If you’re feeling like the California cities you’re combing for fix and flip properties are getting a bit dry, you might want to consider turning your attention to Scottsdale, Arizona. Scottsdale is a growing city with low home prices that are only going up. In fact, Forbes named Scottsdale one of the top 20 cities for real estate investment in 2014.
According to Angie Johnson, a Scottsdale-area realtor, Scottsdale is ranked the sixth safest city in the United States. The city is a haven for golfers with dozens of courses all around, and the weather is warm and dry a solid nine months out of the year. Scottsdale may not be the flashiest city, but that is exactly how its residents like it. The unemployment rate in Scottsdale is a full percentage point lower than the national rate, and the luxury housing market in the area is doing better and better.
Home Prices Show Great Opportunity for Fix & Flip
Trulia reports that the average sale price of a Scottsdale home from September 13 to December 13, 2013, was $375,000. That marks a 10.3% increase over the same period a year prior, or $35,000. The overall number of home sales was down during the last quarter of 2013, but people are buying at higher prices, and those prices are expected to continue going up. The average listing price for a Scottsdale home in the week ending December 25 was $867,681.
Trulia also reports that Scottsdale has numerous schools with excellent parent ratings, and that crime is significantly lower in Scottsdale than in other parts of Arizona and most of the country. People here truly love their city, and the population has grown over the last ten years.
If you’re curious about the house flipping opportunities in Scottsdale, call ZINC Financial at 559.326.2509. We’ll be happy to discuss our rehab loans programs for investors in Arizona and explain all of your fix and flip financing options thoroughly. Whether you’re new to real estate investing or a seasoned investor, ZINC can provide you with appropriate rehab loans that support your investment strategy.