All Forum Posts by: George Cocokios

That’s good and bad. I d hate to have the problems with housing that they have but yes, good for investors indeed 

Yes I completely agree with you, much more development happening now out west . How do you feel about rents out there and can they continue to climb as the have in the past few years?  Every time I check the rental market it seems rents are always up higher than 5-8% year over year?

I’m getting them too, and more often as text and not just calls. Just goes to show you how short the supply is if they are willing to buy and pay market rate!  It’s certainly a sellers market there and may be for some time. Don’t sell your investment properties, where else can you get appreciation and rising rents at the same time!

Thanks !   Will have to drive by it and check it out.  I heard  they built a pretty big facility out there.  I also heard Goodyear is exploding in growth and new jobs and driving prices and rents higher because of all that growth 

Hi Erin E .  Where is the location on the Goodyear facility?

@Jhonathan Bituin.  Yes Jhonathan, it seems this is what may play out with foreclosures and short sales in the Phoenix metro area given the housing shortage. In the recession of 2008-2011 banks were unloading property at fire sale prices just to get the bad debt off their books. But now is a different story, banks will certainly ask for market rate and surely get it or more given that there’s such a dire housing shortage. Developers in the Phoenix area are raising prices on a regular basis. One developer i read about raised their new home prices by 50k in a month!  Right now it would benefit banks to be holding housing inventory on their books as a rising asset.

Buckeye is booming indeed. 10 years ago no one would have thought to go that far west, how things change!  Do you have any idea what Microsoft will be doing with all that land the year bought up in Buckeye? 

Hi Jhonathan. Given the housing boom and the shortage of affordable homes there won’t be a foreclosures market like there was in 08–11.  Banks will get top dollar as investors like myself or individuals will scoop up anything on the market. These are desperate times and it’s a simple supply and demand equation. Don’t wait too long

Goodyear is a great area to work and play. It’s booming right now and will continue for some time. Most of the new housing is either way south in Estrella or north of the 10. My opinion would be to look north of the 10, Estella is too far from highway and shopping which is all north. Tons of golfing up north in Goodyear as well.

I believe it’s the short term capital gains tax rate that will increase from 20 to 39%. So that may essentially kill a lot of flipper activity. Long term capital gains , held more than are year, are not affected.