What is a Great Area To Invest in Arizona?

June 12, 2014 at 2:39 pm Leave a comment

by Maria Hass
Every investor, whether buying a home to hold and rent, fix and flip or as a second home, wants to see a positive return on his or her investment.
What area of the Valley of the Sun has a particularly promising real estate future? The City of Mesa.
This huge city east of Phoenix (its population is larger than Minneapolis’ or St. Louis’) was first developed in its southwest section and its downtown. With the completion of the Loop 202 highway, Mesa has expanded home development further east, where new and innovative ideas are being explored.
Valley Metro, the name used to refer to the Phoenix light rail system, is expanding with construction under way in downtown Mesa. The extension is expected to reach completion in 2018.Development along the Metro route includes new colleges and housing projects near existing and future light rail tracks. Other large projects such as the Barry and Peggy Goldwater Library and Archives and a world-class downtown concert hall are either planned or contemplated. Investors are snatching up historic homes to hold or fix and flip in anticipation of the light rail project’s completion.

One new project is The Eastmark housing development — this five-mile housing project boasts different home builders and includes an active adult community within the development. With lakes, splash pads, numerous parks everywhere and walking trails, it is attracting many people to move to Mesa. Businesses are forming and expanding to answer the needs of the growing population. A recent report by WalletHub ranks Mesa No. 9 on a new list of the Best Cities To Find a Job in the United States.

The City of Mesa has its own airport with commercial flights. Its property tax is lower than surrounding areas. East Mesa boasts views of the Superstition Mountains.

Finally, Mesa is considerably more affordable than neighboring cities. Because of its size, the new development taking place and the growing population, Mesa has exploded from $100 sold price per square foot at the end of last year to $116 sold price per square foot last month. A feat unparalleled by other cities.

Next time you think about investing in Arizona, explore the wonders of Mesa, where you can find a high quality of life for less.

Entry filed under: Arizona Real Estate, Phoenix Real Estate. Tags: , , , , , .

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