The investor did a great job with the remodels. He did landscaping, painted the exterior as well as completely redoing the interiors with granite, tile and all the upgrades.
Now, a year later the prices in my development are up. Yes, they are up everywhere, but not nearly as much as they are up here. Thanks to this investor, and a couple of other investors who remodeled houses in this development, home prices over the last year have rose about 45% from the low of last summer. Much higher than the average of about 32% seen in Phoenix.
So while banks, and other financed buyers may not appreciate investors snatching up homes with cash, most home owners should be thanking them for revitalizing our neighborhoods and helping drive our values back up.
