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Old 11-09-2009, 08:43 PM
 
Location: Scottsdale, Arizona
1,270 posts, read 5,218,528 times
Reputation: 1131

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Sorry I made the assumption cmist-you are correct. ;-)

I'm very surprised you could find $650 at FLW & Shea-but I suppose on a townhome it may be folks that bought BEFORE the big runup and arent carrying mega-mortgages. I would suspect ditto on the 56-64th & Greenway area, as those homes, while they have come down from the absolutely ridiculous prices they were about 4 years ago, still arent cheap at present by any definition, unless you luck into a foreclosure or someone down on their luck who happened to get in before things went crazy.

However, I do work in real estate lending. And while there are some bargains to be had, and in many cases it is a win-win for the owner who can save their home long enough to get back on their feet and the renter who gets a decent place to live--->there are also those cases that don't end so pleasantly with the renter receiving notice the home is in foreclosure after they get settled in.
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Old 11-09-2009, 08:47 PM
 
Location: Scottsdale, Arizona
1,270 posts, read 5,218,528 times
Reputation: 1131
KarmaPhx, I know there is a nice looking apartment complex right at Tatum & Union Hills I think. Pinnacle maybe? I cant remember the name.
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Old 11-09-2009, 09:02 PM
 
Location: Peoria, AZ
1,064 posts, read 2,670,116 times
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Quote:
Originally Posted by ivanabacowboy View Post
there are also those cases that don't end so pleasantly with the renter receiving notice the home is in foreclosure after they get settled in.
True, that was something I wondered in the back of my mind myself about renting from an owner where the rent price seems desperate, but then I saw quite a bunch of them and thought it may be just the going rate.

The things I saw were in the rentals section on the ARMLS system and very current.

Foreclosures are common and that type of thing does happen for sure where renters are caught off guard! Is there any way to tell if your rent payments are being used by the owner to pay the Mtg BEFORE you get the 2 week auction notice??
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