Phoenix Property Market and Real Estate Guide

(Phoenix, Arizona - AZ, USA)

Downtown image of PhoenixPhoenix is one of the dominant cities in the American Southwest, and is home to enthusiastic residents who love the region's endless sunlight and perennial warm weather.

In recent years, Phoenix has become a Mecca for relatively affluent retirees who enjoy eating at classy restaurants, playing golf and otherwise capitalizing on the weather. Popular residential communities include mid-range homes to the west, upscale neighborhoods to the east and a satellite communities like Tempe and Scottsdale, which boast their own complete set of facilities.

Homes and rentals in Phoenix generally fall in the upper-mid-range category, but there is plenty of variance between neighborhoods. Home prices hit record lows during the 2009 recession, but have steadily risen since then. As prices are still far below their 2007 highs, there is still the potential for significant returns to cautious Phoenix-area property investors.

Renting Serviced Apartments

Serviced apartments are relatively easy to come by in Phoenix. Some target retirees, while others cater for business travelers and tourists. Across the spectrum, ample competition keeps prices reasonable, and guests will find in-room furnishings and services adhere to high standards.

In general, a serviced or furnished apartment in Phoenix is going to cost more than a comparably sized apartment or condominium, largely because it does require any major commitments from tenants. However, those planning to stay more than a week or two may receive substantial discounts that make serviced apartments more affordable than hotels.

Buying Apartments and Houses

Affordable studio and one- or two-bedroom apartments are available in Deer Valley, South Mountain and across the western districts. Trendier units and small, freestanding houses lie in Tempe. Meanwhile, luxury homes to the east cater for affluent families and retirees. Many of these operate in conjunction with world-class golf resorts.

Foreigners will find that buying property in Phoenix is a relatively straightforward process, especially if they are connected to a competent real-estate agent who understands how international clients fit into the system. Expect to pay nearly seven percent of the sale price in fees and titling taxes, though more may be in order for exceptionally expensive properties and second homes.

Real Estate Agents

Finding a real estate agent in Phoenix is no problem, as housing is one of the city's most prosperous businesses. It is worth taking time to find a reliable agent with a portfolio that suits your specific needs, budget and interests. All agents in Phoenix speak English, and many speak Spanish as well.

Check out the following Phoenix realtors and real estate agents:

MKR Realty
Address: 883 North 5th Avenue, Phoenix, Arizona AZ, 85003, USA
Tel: +1 602 257 0137
MKR Realty's specialty is early properties, and the company portfolio includes some of the city's original homes and buildings.

Pro Star Realty
Address: 1121 East Missouri Avenue, Suite 108, Phoenix, Arizona AZ, 85014, USA
Tel: +1 602 265 4600
Pro Star has been connecting property buyers and sellers in Phoenix since 1992. The company values a small-town approach to business in this fast-growing city.

New Heights Realty
Address: 6427 South Central Avenue, Phoenix, Arizona AZ, 85042, USA
Tel: +1 602 296 0100
New Heights Realty maintains a portfolio of affordable family homes in the Phoenix suburbs, although the company also has luxury homes and condominiums on offer.