Phoenix rents rise, Some zip codes have seen 15-20% increase 2016

Rents are rising in Phoenix  

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

Home in 5 Program - Down Payment Assistance Program Arizona

Down Payment Assistance Program -  Home in 5  -  The Home in Five Program for 2013 is a down payment assistance for purchasing a residential home. It's available to everyone whether you are a first time home buyer, buying after a short sale, buying after a foreclosure or moving up from another home. YOU DON'T HAVE to REPAY the Grant!! That's RIGHT

*This is a Grant and does not have to be repaid back and is not taxable as income* Whoo Whoo

The Home in 5  program is offered through Participating lenders to Home buyers that are looking in Pinal and Maricopa County.  The industrial Authority of the county of Maricopa and the Industrial Development Authority of the city of Phoenix, Arizona have joined forces to help home buyers purchase homes in Maricopa county through FHA, VA or USDA loan programs by giving those that qualify for the program a non-repayable 5% (4% in Pinal County) toward closing costs and Down Payment.

Home buyer Eligibility Requirements

Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.

YOU must attend a home-buyer education class and obtain a certificate of completion, and receive a home inspection.

Income must be under $88K - That's RIGHT! ( no income requirements for military personal).

Program Eligibility

Purchase a home anywhere in Maricopa and Pinal County, including in the City of Phoenix.


Buyers must occupy the home within 60 days of closing.

Must occupy the home for 1 year.

Can be used to buy a Single Family Residences, Town Homes or Patio Homes

Check it OUT - what you receive in closing costs and or down payment.. NOT to shabby to get into your own home and take a 8hr class..
Loan Amount : $185K - 5% = $9,250   - 6% =$11,700

If you would like more info on this program give me a call. Let go get a house, give me a call Linda 602.391.8246