Queen Creek, Magic Ranch, Dr. Horton (Phoenix, Chandler: renter, HOA, buying a house)

[JonathanT]

Hi all,

Read most of the forums on Queen Creek. Lots of help but can someone give me their view on the homes at magic ranch by Dr. Horton in Queen Creek. Thinking of buying an investment property. Good or Bad. Thanks all...

[lostnaz007]

I live here in magic ranch and it has its good points and bad points...for starters the house next door to me is for rent and it has been empty since april. Just keep in mind those types of things. There are 2 houses on my street that have been up for rent since we bought our house last year.

[anewist]

I bought a house in Magic Ranch in 2006 with the intention of living there. I had a personal change, so living there didn't work out. However, I still have the house, and have renting it steadily ever since. Even now when the market seems to have bottomed out, I am asking advisors on what to do, and they say stay.

I work closely with my property management company and I take care of that house like I am living there myself, and I take care of the tenant. I want people to want to live there, of course.

I have had good experiences in Magic Ranch, no problems with the neighborhood. The HOA is on the ball, and there is a committee that puts out a newsletter to keep all of us informed. There are real names and phone numbers on there, so if I have a question, I can just call.

I have been checking property values over the last few months, and there has been a steady increase, by my rough estimate of recent months, $1k/month. Now, I don't have a crystal ball, but I am believing that this is a good sign. Properties are selling, yes for very little, but they are selling. You can't ask for miracles in this economy when many people are having a problem even paying their rent, much less thinking about buying a house. When people get back on their feet, Magic Ranch would be one of the best places to provide affordable housing, if they don't mind not being in Phoenix. Phoenix, Chandler are always going to be a little pricier. That's the tradeoff of living in a central area.

So, yes, there are quality people in Magic Ranch who care about that neighborhood, who want it to thrive.

It's pretty far from Phoenix, but if you work in say, QC or Chandler, not bad. It's not the furthermost southern development, either. There's more south of us.

The projections pre-crash were that there is nowhere for Phoenix to expand except into Pinal. There has been a bit of a delay in that expansion, for sure, but even in the last 3 years since I bought, I have seen big changes. We need more for sure, but it's definitely not as much of a "rural" experience as it was.

Phoenix will always be a destination for retirement, as well as for snowbirds. The expansion will resume when (and we don't know when) but when the situation again provides people the means to migrate out to Phoenix, and for infrastructure, businesses to locate there in Pinal County.

If you are going to buy a home in Magic Ranch, check out the air conditioning / heating system carefully. I would even suggest having a professional a/c person check it. Some were faulty from the beginning, and you will end up paying for that if it hasn't been fixed. Find out the history, if a new one has been put in or not.

[Captain Bill]

Originally Posted by anewist

...
If you are going to buy a home in Magic Ranch, check out the air conditioning / heating system carefully. I would even suggest having a professional a/c person check it. Some were faulty from the beginning, and you will end up paying for that if it hasn't been fixed. Find out the history, if a new one has been put in or not.

I use Jim Splayt of Trustworthy Air Conditioning for all my properties. He's good, reliable, and reasonable. 480 503 4483

[anewist]

One more thing about finding renters. My most recent tenant was found in 2 weeks, even though the comps said it would take longer. The comps for finding a renter now in that area is 30 days.

Find a management company that does management exclusively. Often they are tied to a realtor, that's fine. But, I wouldn't advise hiring a manager who is also showing your property, inspecting your property, doing the accounting, the whole 9 yards. And especially, I don't advise going with a manager who is also doing realty work, who is trying to sell property.

Management itself is time consuming. You need these functions, each in a separate employee, not in one person: manager; inspector; accountant; someone to show the property; and, maintenance, unless you use your own. If the company manages 150-200 properties, then preferably a manager's assistant is needed if you want to get the time of day from your manager.

One manager can effectively handle about 150 properties, I've found. Much over that, then another person is needed. Even then, don't expect everything to get done for you in a timely manner. The issues that bring in money will get focused on, the rest is just details that may or may not get done.

[anewist]

Just talked to a woman who works in property refurbishing. She had 5 clients who bought in Magic Ranch, and they all bought properties and are moving there. More businesses are moving in. People are continuing to move into that south of Queen Creek corridor.

[KarmaPhx]

Dr. Horton? lol