All you have to do is drive central Phoenix and see at least 15 apartments and condos being built in central Phoenix Area . Phoenix is growing and it really is showing along with Phoenix Rents raising higher and higher. Anyone one living in central Phoenix can tell you rents are rising.
Rentalcafe.com breaks rents down by zip code and half the valley rose 9% in 2015. With all the new construction going on in apartments I don't see rentals prices going down.
How much can a landlord raise your rent? There is effectively NO Limit on rental increases. NO rent control and the State has no interest in helping tenants by regulating rent.
With rents on the rise is buying more affordable then renting? In markets where home prices are relatively affordable. 2016 may be a very good time for some renters to take the plunge into home ownership before home prices and interest rates rise even higher. The higher the prices and interest rates makes it tougher to afford and qualify.
The City has several down payment assistance programs, I call it Free Money for info contact:
Linda Wieczorek @ 602.391.8246 or email azhomes4u@gmail.com
HOME IN 5 PROGRAM - THE HOME IN 5 PROGRAM OFFERS UP TO 5% OF THE LOAN AMOUNT TOWARDS YOUR DOWN PAYMENT IN MARICOPA COUNTY ONLY. INCOME LIMITATIONS AND DEBT RATIO LIMITATIONS APPLY. YOU DO NOT NEED TO BE A FIRST-TIME HOMEBUYER BUT MUST MEET MINIMUM FICO SCORE REQUIREMENTS AND FHA GUIDELINES. MAXIMUM PURCHASE PRICE SHALL NOT TO EXCEED $300,000.
NEIGHBORHOOD LIFT PROGRAM - THE NEIGHBORHOODLIFT PROGRAM IS ADMINISTERED BY NEIGHBORHOOD HOUSING SERVICES OF PHOENIX, NHS PHOENIX, AND CAN BE USED TO PURCHASE A HOME IN THE CITY OF PHOENIX. UP TO $7,500 CAN BE AWARDED TO THE PARTICIPANT IN THIS PROGRAM TO BE USED TOWARDS DOWN PAYMENT AND CLOSING COSTS. BORROWERS MUST MEET AREA MEDIAN INCOME (AMI) REQUIREMENTS AND APPLY FOR A 30 YEAR FIXED MORTGAGE HOME LOAN ONLY.
OPEN DOOR - This program is designed to assist eligible first-time homebuyers with the purchase of an affordable home in the City of Phoenix. Based on need, the program provides a deferred payment loan up to $15,000 to assist with down payment and closing costs.
There are several other programs out there to HELP with down payment, if you would like more information about FREE money and home buying
please contact me:
Linda Wieczorek @ 602.391.8246 or email azhomes4u@gmail.com
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