Chandler, AZ Multifamily on FIRE!!!!

On or about 5 years ago, I met the Economic Director of Chandler.  At that time, she told me that; in her opinion, by 2020 Chandler would have a single-family home on every available parcel of land.  Effectively that Chandler would be a “finished” city.  While that prediction was not entirely true, it was not far off.  If you drive around Chandler, there is Bulldozer on every spot of land.

But that is not what I wanted to convey today.  Today, I wanted to talk about how the multifamily boom is out pacing single-family homes by nearly 3 to 1 in Chandler.

Why do Cities approve such development?  Easy, JOBS!  Have you been on Indeed.com or any of the other job boards, they are loaded with JOBS!  If we have jobs in this economy, then we have real estate.  It really is just that simple.  If the government decides to ruin the economy that will indeed ruin real estate as well.  They are directly linked. 

Our population growth is driving the need for multifamily.  If I had to sum up Chandler, we need affordable housing.  Rents on the low end $900 and less, middle end rents at $900 - $1,300 and higher end rents at $1,600+. 

Let’s explore from the intersection of the lower highway 202 and highway 87.  5 miles north and south, 3.5 miles east and west, there are 3,500ish multifamily units in or going in. 

Alta Parklane 291 Brighton Place 53 Cabana Chandler 158 Chandler 101 200 Chandler Residential 200 Commonwealth Lofts 42 COR Chandler 291 District 340 Nebraska Homes 16 Nevada & Commonwealth 212 Ocotillo Patio 32 Pinelake 93 Riata 300 San Marcos 262 Town Frye 420 Tremaine Park 76 Uptown 252 Village 108 Village at College Park 40 Waterfall 106 TOTAL 3,492

The question I often get is should I buy or should I rent?  The easy answer is “If you can afford to buy, then buy.”  That way you get the appreciation as time goes on.  Besides, I can remember renting and living with all those people and their parking lot issues.  I am all about the single-family home but you will pay more to get that level of luxury.  If you are ready to List or Buy, let me know.  We provide extreme value either way.

Buyers get:                                     Sellers get:

FREE Home Inspection                  5k Flat Fee Listing

FREE Termite Inspection                FREE Home Inspection

FREE Home Warranty                    FREE Termite Inspection

 Best,

 Geoff Nowlin, Phoenix Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Surprise, Surprise Arizona and Surprise Farms

 

Surprise, Surprise Arizona and Surprise Farms. 

Surprise, AZ has 135,000 residents and climbing. The average income is 25k with the median income being 59k. Home inventory is ridiculously low just now at 118 Active Single-Family Homes. With an absorption rate of 38% or .38 months of inventory. These Active SFHs have an average price of 467k. The Average Sale Price over the last 6 months is 331k. 

Surprise Farms subdivision is a small one of 603 SFHs near the 303 and Greenway. There is only 1 active Foreclosure just now. Has 2 Active for sale, 6 Pending and 47 Sold SFHs in the last 6 months. This subdivision is super-hot. 

I have put in an active query in the MLS to let me know of any home that comes active under 195k. (a wholesale price). 

The home I inspected today is listed for 310k. If the Listing Realtor charged the full 6% commission, that’s $9,300. If they would have went with me at www.5kflatfeelisting.com, they would have saved $4,300 or 46% off the Listing Commission. Don't let over spending happen to you. 

Buyers get:                                Sellers get: 

FREE Home Inspection            5k Flat Fee Listing 

FREE Termite Inspection         FREE Home Inspection 

FREE Home Warranty             FREE Termite Inspection 

Best, 

Geoff Nowlin, Phoenix Realtor 

480-466-3737

www.5kflatfeelisting.com 

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Wholesale Real Estate

 

Wholesaling to Builders 

I just got a lot under contract in zip code 85254 Scottsdale, AZ which is a hot hot neighborhood. What is going on in this zip code is Builders are competing for old houses. Their desire is to raise them and build a 3-Million+ dollar mansion. If you drive around this area, that’s exactly what they are doing. 

My Strategy is to get these houses under contract myself, then sell them my contract. This allows me to make money upfront in the assignment fee and to make money as the Realtor of record. Think about that for a second. Even if I sell my position as the Buyer, I am still the Realtor of record representing the Buyer. So I can make money as the Investor and use my license. 

What value do I bring to the Builders? I am scouring the area for deals at the right price. Once I get them solidly locked down under contract, I allow the Builders to take over my position. Builders need lots to build. Builders are super busy. Builders only make money if they can build. So my value is in hand delivering a lot ready to go with a bow on it. 

What value do I bring to the Sellers? I have a core group of Builders who are super rich. They buy for cash and can act exceedingly quickly. They decide quickly. I am replacing my financing contingent offer with a cash offer. I offer the Builders the option to inspect the property fast since I am an AZ Home Inspector. This moves the project along at break neck speed. 

Why am I tell you this? If you are interested in learning how to Wholesale Real Estate, that’s my bag. If you are interested in Buying investment property, that’s my bag. If you are interested in Buying a primary residence, that’s my bag. Or if you are interested in Selling your property, I do it for a 5kflatfeelisting.com, which literally saves you thousands. If you are interested in Selling Real Estate as an Agent or already are an Agent, my team does 120 transactions per year, want to learn how? 

Thanks for the quick chat, see the associated video. Meet Mia and myself on www.5kflatfeelisting.com.

  

Buyers get:                          Sellers get: 

FREE Home Inspection      5k Flat Fee Listing 

FREE Termite Inspection    FREE Home Inspection 

FREE Home Warranty         FREE Termite Inspection 

Best, Geoff Nowlin, Phoenix Realtor 

480-466-3737 

www.5kflatfeelisting.com 

nowlin.geoff@gmail.com

Check out our unique real estate services and advantages

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Where should I invest in real estate?

I recently had a Client who has $200,000 in equity in her house.  She asked me 2 huge questions.

1. Where should I invest my $200,000?

2. What is the best Strategy?

She and her Husband have 10 years until retirement.  They don’t want to waste these next 10 years just sitting on equity.  They want to leverage that equity to make even more money.  They are interesting because not many people think about their primary residence as an income source.  Most people feed their primary residence money.  Most don’t think/believe that your primary residence could feed them money. 

This particular couple wants to invest in real estate, believing that it would be the safest play.  I don’t disagree.  We could have a huge discussion about stocks, precious metals, bitcoin, CDs, etc.  All of which I know almost nothing about.  For the purposes of this blog, I want to keep it simple and keep it on real estate.  In a good economy or bad, people still need to live in real estate, operated a business out of real estate.  Most people understand real estate because they are familiar with it. 

So for this article, lets discuss “Where should I invest?”.  I think there are 3 basic markets across the Country.

Hyper Market: The hyper market is one where the buyer appreciation is greater than 5%.

Stable Market: The stable market is one where the buyer appreciation is between 2% and 5%.

Flat Market: The flat market is one where the buyer appreciation is lower than 2%.

What do I mean by buyer appreciation?  There are 2 kinds of real estate appreciation.  First is “forced appreciation” where you take a hammer and paint and forcibly fix up the house making it more valuable.  i.e. forcing the appreciation to be greater.  The other is the “buyer behavior” that naturally pushes the appreciation up.  Right now in Phoenix where I live, the Californians are buying and bidding up prices.  This is buyer appreciation.

In the hyper market, you would want to engage in fix and flips to get both the forced appreciation and the buyer appreciation that is occurring over the time period between when you bought the house and when you sell the fixed-up house. In a way, you are double dipping.  According to Norada Real Estate;

“appreciation of 9.14%, which puts Phoenix in the top 10% nationally for real estate appreciation. During the latest twelve months, Phoenix's appreciation rate, at 8.24%, which is higher than appreciation rates in 95.43% of the cities and towns in the nation.” Nov 1, 2020.

So if you had $200,000 you would be smart to fix and flip homes in a hyper market.  Phoenix is just one example.  There are many others.

In a stable market where appreciation is more modest between 2% and 5%, this is where you would want to hold your rentals. The idea; you would buy at a much lower price and achieve greater cash flow while having modest appreciation.  Again, a double dip.  Beware of the eviction rules before purchasing. 

In the flat market under 2% appreciation, you would make offers near 50% of the after repair value (ARV) in order to wholesale them to local investor.  Each of these markets should play a role in your investing decisions.  Obviously, you would need some training as to how to pull this off.    

Check out the accompanying video where I show you how to chose the City that meets your investment criteria.  Feel free to reach out to me with questions.

Buyers get:                               Sellers get:

FREE Home Inspection           5k Flat Fee Full Service Listing

FREE Termite Inspection         FREE Home Inspection

FREE Home Warranty             FREE Termite Inspection

Best,

Geoff Nowlin, Phoenix Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantanges

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

    

 

Phoenix Results and Predictions for 2021

 

Geoff Nowlin’s predictions for 2021. Well, the covid year is over and here are the actual results: 2019 in the Phoenix MLS, there were 99,325 sales. 2020 in the Phoenix MLS sold 105,278. 

These figures include only and all improved property, not land.  This includes single family homes, condos, mobile homes and manufactured homes.

That’s a 6% increase from the year prior.  Why?  I believe its part of the great California exodus.  Californians are coming to Phoenix in droves.  They are sick of the lock downs, sick of the taxation, sick of the anti-business climate, sick of the rolling black outs, sick of the fires, sick of the earthquakes, sick of the traffic, sick of the Franchise Tax Board and probably sick of the politics. 

So welcome to Phoenix, come on in the water is warm.  What we are seeing in Phoenix, the new builders are running lotteries again.  They are delivering new builds in 9-12 months because they cannot hire enough men to finish the homes.  New Builders are pushing prices up $1,000 to $2,000 per month.  They cannot find enough ground to build.

There is a crane on every corner of downtown Phoenix, of Scottsdale and on the ASU Campus.  Drive around town and all you see is “HIRING” signs.  Look on indeed.com and there are literally thousands of jobs available right now right here in Phoenix.  This economy is so hot that businesses are growing. 

People often ask me, what about the coming real estate crash?  I don’t see any sign of a down turn.  I remember when Ronnie Reagan, Tip O’Neill and Howard Baker (Economic Recovery Act of 1981) lowered the tax rates from 70% to 50% top bracket and 14% to 11% lower bracket and we had a 20-year boom.  

Well Trump, Ryan and Mitchell (Tax Cuts and Jobs Act of 2017) lowered our corporate taxes from 38% to 21%.  As long as that holds, I predict we will also experience a 20-year boom. 

I believe that real estate follows the jobs.  As long as we have jobs, we will have a strong real estate market.  Enjoy 2021!

Buyers get:                               Sellers get:

FREE Home Inspection            5k Flat Fee Listing

FREE Termite Inspection          FREE Home Inspection

FREE Home Warranty             FREE Termite Inspection

 

Best,

Geoff Nowlin, Phoenix Realtor

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Check out our unique real estate services and advantanges

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona

Phoenix Flat Fee Listing

www.5kflatfeelisting.com is where you can learn how easy it is to save THOUSANDS from your Listing Commissions when you sell your House! Realtors have been gouging home owners for years selling for 3%. Stop it! Just stop it! There is no longer a need to over spend on Realtor Commissions. 

With our full service www.5kflatfeelisting.com you get a 27-point white paper about what you get when listing with Geoff and Mia Nowlin. When we say full service, we mean it. We are not skipping steps or treating your listing as less than any other. We will do the work, we will put in the time, we will walk across hot coals to sell your home for top dollar. 

 As of 1/1/2021, the median home price in Phoenix is roughly $300,000. Let’s do some savings math:

Sale Price     Normal 3% Commission     Flat 5k Commission     Savings     % Savings 

$300,000     $9,000                                   $5,000                          $4,000       44%

$500,000     $15,000                                 $5,000                          $10,000     66% 

$1,000,000 $30,000                                  $5,000                          $25,000     83% 

$2,000,000 $60,000                                  $5,000                          $55,000     92% 

You may be asking why would we do this? Think about it from my perspective. I would rather sell 4 homes per month at www.5kflatfeelisting.com then sell one every 6 months at full commission. This model is designed save you huge sums while steadying my income. Most Realtors experience peaks and valleys with their income. In a round-a-bout way, you are helping us with consistent income. An I thank you in advance for doing that. 

We will be asking you for a testimonial and reviews. We think you will be thrilled with your savings and we hope you will tell everyone you know about us. Call for the “What you get when Listing with Geoff and Mia Nowlin” whitepaper. 

Buyers get:                             Sellers get: 

FREE Home Inspection         5k Flat Fee Listing 

FREE Termite Inspection       FREE Home Inspection 

FREE Home Warranty            FREE Termite Inspection 

Best,

Check out our unique real estate services and advantanges

Geoff & Mia Nowlin

480-466-3737

www.5kflatfeelisting.com

nowlin.geoff@gmail.com

Name:

Email:

We respect your email privacy

Serving Maricopa & Pinal County Arizona