Arizona real estate market still slow

Well, my tenant bought a 1 bedroom condo in the same complex instead of mine. I let her break the lease 4 months early so she’ll be out at the end of March. I’m hoping that by selling as an empty condo I can attract not only investors but buyers who want to live there.

I was expecting an offer on my lots in St. George, but that never materialized. Funny thing about the internet, I was contacted by a woman who purchased a parcel of land and will be selling them as lots in St. George also. Turns out, her lots are right next to mine! Don’t worry, we won’t be competing with each other as hers won’t be available for a while.

Since my last post about Google and Apple, we saw Google go from 415 to 472 and back down to 399! Apple also went from 72 to 86 and back down to 78. So I saw my profits go up 400%, down to losing 80% and back to up 50% as of now. Talk about a rollercoaster. I think I’ll stick to real estate cause even with the bubble talk and slow down, it’s nothing like the stock market.

My condo 1 refinance will be complete on Monday. I am getting a 5/1 ARM at 6.25% with no closing costs. Should lower my payment by $75/mo, but the big change is that it’s fixed for 5 years.

My new construction home which I will callĀ SFH#2 from now on is suppose to be done on April 23rd. This means that I need to sell the house I live inĀ SFH#1 and can’t close before June 30th. This is because after holding for 1 year I will only have to pay 15% capital gains tax, instead of ordinary income. Looks like I’ll have to carry 2 houses for 2 months.

About Kenric

My blog about living life to the fullest by generating passive income through real estate, business and online investments.
This entry was posted in Real Estate. Bookmark the permalink.