We're going to rent for awhile, but where? (lease, home)

[Great Joy]

We lived in an apartment for awhile after moving here until our house was completed. We didn't like living in an apartment due to being able to hear all the neighbors around us at all hours of the day. Some nights we barely got any sleep! So I wouldn't recommend doing that.

Due the number of investors that bought homes around Phoenix (and many other cities in the US), there are quite a few homes available for rent. Since you want to rent now and buy later, I recommend using your house hunting trip to find a neighborhood you would consider buying in, and then choose a home there to rent to find out if you like that neighborhood or not. In addition, after you move into your rental home, you could still drive around Phoenix to look at other neighborhoods, test commute times, etc. ArizonaNeighborhoods.com provides a great map for neighborhoods around Phoenix and also shows homes for sale and for rent in each of those neighborhoods. Best wishes!

[azkylady2]

[quote=military spouse;1636938]Thanks to everyone's responses on another thread, we've decided to rent for 6 months to 1 year. We're leaning toward Gilbert or Goodyear. Hubby will be working at Sky Harbor and we don't want an out-of-the-ordinary commute for the area, but I'm guessing 30-45 minutes is common. We would like a 3 bedroom, newer or heavily remodeled, 3 car-garage house. We would like a clean, friendly neighborhood with lots of kids. We would like to be close to a YMCA for swim team for our daughter and close to shopping. Actually, we would like to be REALLY close. Care to throw out any ideas on neighborhoods? Ideally, I would like to stay below $1,500 a month, but that would be negotiable for a really nice house. Hubby enjoys cycling and would like to be in an area where that is safe and easily accessible, but this is not mandatory. Hubby would work Mon-Fri at Sky Harbor.[/quote

most the elementry schools are excelling, the area is pretty safe, you are close to anything you could want, shopping, resturants, I don't have to travel far to get anything I need. I would not live anywhere else, this is the first place I settled when we moved here and I would not move. Its 10 minutes to Sky Harbor for me.

[azkylady2]

[quote=azkylady2;1693728]

Originally Posted by military spouse

Thanks to everyone's responses on another thread, we've decided to rent for 6 months to 1 year. We're leaning toward Gilbert or Goodyear. Hubby will be working at Sky Harbor and we don't want an out-of-the-ordinary commute for the area, but I'm guessing 30-45 minutes is common. We would like a 3 bedroom, newer or heavily remodeled, 3 car-garage house. We would like a clean, friendly neighborhood with lots of kids. We would like to be close to a YMCA for swim team for our daughter and close to shopping. Actually, we would like to be REALLY close. Care to throw out any ideas on neighborhoods? Ideally, I would like to stay below $1,500 a month, but that would be negotiable for a really nice house. Hubby enjoys cycling and would like to be in an area where that is safe and easily accessible, but this is not mandatory. Hubby would work Mon-Fri at Sky Harbor.[/quote

most the elementry schools are excelling, the area is pretty safe, you are close to anything you could want, shopping, resturants, I don't have to travel far to get anything I need. I would not live anywhere else, this is the first place I settled when we moved here and I would not move. Its 10 minutes to Sky Harbor for me.

there is a fairly new YMCA in the foothills about 15- 20 minute drive.

[Ponderosa]

Just saw the swimming thing. Goodyear YMCA has a competitive swim center. Estrella Foothills HS has an aquatics center for high school swimming team/meets under construction. It's going to have a lazy river too. That's what I am interested in. The high school center will be open to the public.

[military spouse]

Originally Posted by Ponderosa

Just saw the swimming thing. Goodyear YMCA has a competitive swim center. Estrella Foothills HS has an aquatics center for high school swimming team/meets under construction. It's going to have a lazy river too. That's what I am interested in. The high school center will be open to the public.

Wow!!! Our last trip to AZ in July involved many hours on the lazy river at the Marriot Resort in Desert Ridge. How close is that to Estrella Mountain Ranch?

[Ponderosa]

Originally Posted by military spouse

Wow!!! Our last trip to AZ in July involved many hours on the lazy river at the Marriot Resort in Desert Ridge. How close is that to Estrella Mountain Ranch?

I think that is in Scottsdale or close which makes it the other end of the world from Estrella. Also, I don't think Estrella fits your desire to be very close to shopping. Estrella is one of the nicest developments in the area with two large (for AZ) lakes and many, many miles of trails, a waterpark and fitness center for residents, and top-rated schools. But there is no commercial within 10 miles - and most of the residents like it that way. There is commercial planned for next year though, but it'll take a trip to the new mall and stores near the freeway for real shopping.

[military spouse]

Originally Posted by Ponderosa

I think that is in Scottsdale or close which makes it the other end of the world from Estrella. Also, I don't think Estrella fits your desire to be very close to shopping. Estrella is one of the nicest developments in the area with two large (for AZ) lakes and many, many miles of trails, a waterpark and fitness center for residents, and top-rated schools. But there is no commercial within 10 miles - and most of the residents like it that way. There is commercial planned for next year though, but it'll take a trip to the new mall and stores near the freeway for real shopping.

I'm sorry, when I'm tired I'm not too literate. I meant to ask how far the public pool with the lazy river will be from EMR. We visited that neighborhood years ago and really liked it. Would it be too far from Sky Harbor for a daily commute?
Thank you!

[jorgitoz]

I recently moved to Gilbert AZ after doing my 5 years in the Navy (submarine). Anyway, I'll tell you about Gilbert since it's where I live. As far as I know the schools in Gilbert are rated among the best www.greatschools.net . The crime in the city is very low. I'm into cycling myself and you can be on the road safely if you head towards the south part of Gilbert, but there's bike lanes all over town. I also have a motorcycle and there's nice places to ride on this side of town (going towards tortilla flats, or the back road to Tucson). As far as your commute to sky harbor (I'm actually flying out today) it takes me about 30 minutes to get there (1:30Pm that's with no traffic). If you commute during rush hour I would expect more like 45min to an hour. I live at Higley and Pecos just so you get an idea. Also we have a new mall opening up on the 26 of this month www.shopsantanvillage.com

Here's is a list of subdivisions in Gilbert if it helps you with your research
Agritopia
Allen ranch
Arbor walk
Arizona pravada
arrowpoint
Ashland ranch
Ashley heights
Baseline/tone
bayview
Bella vista
Breckenridge manor
Cameron ranch
Candlewood
Carol rae ranch
Carriage lane
Cayman square
Chandler ginning
Chaparral estates
Circle g meadows
College park 5
Cottonwoods crossing
Cooley Station
Coronado ranch
Cooper ranch
Country lane
Country shadows
Crossroads
Dave brown country estates
Dave brown millet ranch
Desert winds
Durango
El dorado lakes
Elliot shores
Estates at the Spectrum
Farmhouse meadows
Fincher Creek
Fincher farms
Finley farms
Freeman farms
Gateway court
Gateway ranch
Gateway village
Gardens
Greenfield lakes
Greenshaw place
Gilbert
Gilbert Estates
Gilbert ranch
Heritage Cove
Highland corner
Higley groves
Higley park
Holiday estates
Holiday farms
Islands patio homes
Juniper place
Kristin manor
La Aldea
La vida serena Estates
Lago estancia
Lindsay ranch
Lowe Estates
Lyon’s gate
Lyons gate
Madera parc
Marbella vineyards
Martinque
Mendocino valley
Mira vista place
Mirador estates
Neely commons
Neely farms
Neely ranch
newport
North shore
Oak Tree park
Old west estates
Park place
Park village
Pecos manor
Pecos park
Power ranch
Rancho cimarron
Rancho corona
Rancho del verde
Rawhide park
Ray ranch
Ridgewood
sahara
San savino
San Tan Ranch
Seawynds
Settler’s meadow
Settler’s Point
seville
Shamrock estates
Sierra springs
silverhawke
Sonoma ranch
Sonoran vista
Spectrum
Spring meadows
springtree
Stonebridge lakes manor
Stonecreek
Stonehenge
Summer meadows
Sun view estates
Superstition springs
Templeton place
The Gardens
The highlands
The Islands
Tone estates
Towne meadows
Trilogy
Val vista
Val vista lakes
Villa lante
Villa madeira
Vista alegre
Vista del oro
Vista dorada
westbank
Western skies
Western skies estates
Whisper glen
Whisper grove
Wind drift
Windmill ranch



Well I hope this helps and maybe someone can do this for goodyear since I don't know much about it.

[military spouse]

Originally Posted by jorgitoz

I recently moved to Gilbert AZ after doing my 5 years in the Navy (submarine). Anyway, I'll tell you about Gilbert since it's where I live. As far as I know the schools in Gilbert are rated among the best GreatSchools.net . The crime in the city is very low. I'm into cycling myself and you can be on the road safely if you head towards the south part of Gilbert, but there's bike lanes all over town. I also have a motorcycle and there's nice places to ride on this side of town (going towards tortilla flats, or the back road to Tucson). As far as your commute to sky harbor (I'm actually flying out today) it takes me about 30 minutes to get there (1:30Pm that's with no traffic). If you commute during rush hour I would expect more like 45min to an hour. I live at Higley and Pecos just so you get an idea. Also we have a new mall opening up on the 26 of this month Santan Village | Home

Here's is a list of subdivisions in Gilbert if it helps you with your research
Agritopia
Allen ranch
Arbor walk
Arizona pravada
arrowpoint
Ashland ranch
Ashley heights
Baseline/tone
bayview
Bella vista
Breckenridge manor
Cameron ranch
Candlewood
Carol rae ranch
Carriage lane
Cayman square
Chandler ginning
Chaparral estates
Circle g meadows
College park 5
Cottonwoods crossing
Cooley Station
Coronado ranch
Cooper ranch
Country lane
Country shadows
Crossroads
Dave brown country estates
Dave brown millet ranch
Desert winds
Durango
El dorado lakes
Elliot shores
Estates at the Spectrum
Farmhouse meadows
Fincher Creek
Fincher farms
Finley farms
Freeman farms
Gateway court
Gateway ranch
Gateway village
Gardens
Greenfield lakes
Greenshaw place
Gilbert
Gilbert Estates
Gilbert ranch
Heritage Cove
Highland corner
Higley groves
Higley park
Holiday estates
Holiday farms
Islands patio homes
Juniper place
Kristin manor
La Aldea
La vida serena Estates
Lago estancia
Lindsay ranch
Lowe Estates
Lyon’s gate
Lyons gate
Madera parc
Marbella vineyards
Martinque
Mendocino valley
Mira vista place
Mirador estates
Neely commons
Neely farms
Neely ranch
newport
North shore
Oak Tree park
Old west estates
Park place
Park village
Pecos manor
Pecos park
Power ranch
Rancho cimarron
Rancho corona
Rancho del verde
Rawhide park
Ray ranch
Ridgewood
sahara
San savino
San Tan Ranch
Seawynds
Settler’s meadow
Settler’s Point
seville
Shamrock estates
Sierra springs
silverhawke
Sonoma ranch
Sonoran vista
Spectrum
Spring meadows
springtree
Stonebridge lakes manor
Stonecreek
Stonehenge
Summer meadows
Sun view estates
Superstition springs
Templeton place
The Gardens
The highlands
The Islands
Tone estates
Towne meadows
Trilogy
Val vista
Val vista lakes
Villa lante
Villa madeira
Vista alegre
Vista del oro
Vista dorada
westbank
Western skies
Western skies estates
Whisper glen
Whisper grove
Wind drift
Windmill ranch



Well I hope this helps and maybe someone can do this for goodyear since I don't know much about it.

Thanks for your opinion and info. It is of great help. There are so many choices that it is overwhelming. If we do rent, we would really like to be in a neighborhood where we will end up buying so that we don't have to uproot our daughter twice. It seems to become more difficult as they get a bit older

[jorgitoz]

Originally Posted by sirwinston73

Stephen,

For your "advice" you appear to be entirely ignorant of fundamentals and a little something important to investors called the P/E.

Right now it is cheaper to rent than buy. Like it or not it's cheaper.

In addition the Phoenix market isn't predicted to hit bottom until about 2009. Yes, in the long run "owning" is better (I put it in quotes because until you pay a house off in full you're just renting from the bank); however, when a house is going to be cheaper next month or next year, buying it today is S-T-U-P-I-D.

In addition, buying in a new city one doesn't know is really dumb. And it's especially dumb in a down market where you won't be able to get rid of your house if you decide you want to move. When I moved to Arizona I was told I'd love north Scottsdale so I moved there and boy did I hate it. Glad I rented and could bail out quickly.

7 years of living in Phoenix/Scottsdale left me with the impression that "owning" there is mostly about ego and status rather than fundamentals and your post only further solidified that for me. Either that or you're a realtor or mortgage broker, if there are any still in business.

Both of you guys are confusing different strategies for investing and buying a primary residence. I own properties that I'm renting out. Do you guys think I'm subsidizing the rent? Ummm let me think.... NO...... my mortgage payments are about 300 less than what I rent them out for. So owning for me is not about ego and status, is about being smart with my money.
Now, I was talking about me, and I know very well that not everyone can do what I did with these houses and here's why.
Most people buying homes right now can't afford a 20% downpaymet so they get 100%, 95% financing or maybe 90%.
Included with that is a little thing called PMI (private mortgage insurance) depending on your credit that could be anywhere from $100-$600!!! So yes, renting is cheaper than buying for these people.
Now if you are smart though there are ways around this. You can do a seller carryback. (Yes many homes are upside down, but there is many with equity) Most people (including Realtors) don't know much about this and don't bring it up so it's never an option. Another thing you can do (if your PMI is not too high) is buydown rate. Which can bring down your payments significantly. (some banks have programs that lower your interest rate by a point if you make payments on time)
I think this makes it clear that it's no good to find a "great" deal on a home if you have a bad loan.
Now, finding a home. If you are looking for cashflow property, you're not going to look in the same place as a fixer upper or flip home (this is the rule not the exception). Same you're not going to look for your primary residence in the same place as your investment properties (note, my old primary residence turned into an investment property)
Cashflow properties, you first look at what the rent in the area is and then you look for properties (you know your loan amount and payments before looking for a properties) that will give you passive income.
Flip properties. You first look for areas that are volatile, meaning people are constantly buying and selling. Then you look for 'an opportunity' (this is not a good time to flip houses). Yes, there are investors who buy whole sale (70% market value), but not everyone has cash and/or negotiating abilities to do this (this is an exception not the rule)
Primary residence. I think most people would agree that if houses are being bought and sold, the community is not well established and therefore could be a bad place to live. You take the same approach as finding a flip house but you look in areas where you'd like to live.
The best houses being sold are selling in less than a month. I know the overpriced and ugly houses are in the market for 4 months to longer than a year to never sold!!

So in conclusion, both of you are right, but you're over generalizing therefore conflicting with each other. And by the way, none of this is easy specially if you've never done it before!!

(I should write a Book!)