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Old 12-30-2010, 11:08 PM
 
Location: Cape Cod/Green Valley AZ
1,111 posts, read 2,781,424 times
Reputation: 3143

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My wife and I (both over 65) plan on spending this February and March in Green Valley. We were there for ten days a year ago and liked the area, especially the varied adult recreation facilities available (Green Valley Rec). Our goal is to find a place for a winter get-away from Cape Cod and spend no less then four months in Green Valley each year (December~March). I’m pretty convinced that purchasing a home, even with the prices where they are now, would not make economic sense for us. I’d rather rent for four months out of the year or even do a long term rental for 12 months. We’ve noted some attractive unfurnished homes on the rental market in Green Valley for between $950 and $1,200 dollars a month. Anyone on the forum with experience in such matters that might wish to offer us some guidance and insight?

Thanks,


Rich
(Chilly on Cape Cod)
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Old 12-31-2010, 09:29 AM
 
Location: Oro Valley AZ.
1,024 posts, read 2,734,268 times
Reputation: 1196
You can get some great deals in Green Valley if you are willing to sign a long term lease. You just have to balance the high cost of the four months with the lower rate for 12 months and evaluate what make sense for you and your lifestyle. I was recently showing a client homes in Green Valley, in the 350K range, while looking we came across one in the same neighborhood that he could lease for a year for 1200.00 month! Though I get paid to sell houses, I couldn't argue with the logic of renting at that price. The one caveat when renting, in our present economic climate, at times homes up for rent may also be in the foreclosure process. Owner quits making payments, collects rent till the bank takes over the home. Tenants can be left with no recourse for return of security deposit. If you have a written lease, in AZ the banks are required to honor the lease, but what they will normally do is offer what we call "cash for keys", they will offer you a nice chunk of money to move out within 30 days or so. In Green Valley, short sale and foreclosure are no where close to the rate in the Tucson metro area. So most rentals there should not be a problem, but just a "caveat emptor".
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Old 12-31-2010, 04:35 PM
 
Location: Cape Cod/Green Valley AZ
1,111 posts, read 2,781,424 times
Reputation: 3143
Rick:

Thanks for sharing your views on the matter. As you have pointed out, why would I purchase a home for a modest amount of money when I can rent a better place for what would be a nominal yearly amount of money? I will keep your cautions in mind should we actually decide to do a long-term rental.

Best wishes,

Rich
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Old 01-06-2011, 02:00 PM
 
7 posts, read 41,951 times
Reputation: 14
Check out the luxury condominiums at the Wyndham Canoa Ranch. They are great properties for absentee owners!
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Old 01-06-2011, 09:00 PM
 
Location: Cape Cod/Green Valley AZ
1,111 posts, read 2,781,424 times
Reputation: 3143
Canoa Ranch:

I will certainly do that! How do you enjoy living in Green Valley?

Rich
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