Thinking of investing in Scottsdale real estate this year? According to a survey released by Morgan Stanley, the majority of millionaires in the U.S. see real estate as a top investment. The survey shows that 77 percent of investors who own a minimum of $1 million in assets already invest in real estate, and a third of U.S. millionaires plan to purchase real estate in 2014. Direct ownership of real estate was ranked the top alternative-investment pick for this year, with real estate investment trusts ranked second.
Why has real estate become so popular among wealthy investors? One reason is interest rates. Many millionaires are finding stocks to be increasingly expensive, with either stable or declining interest rates projected over the next few years. Many are considering alternative options such as real estate to make better returns. The Scottsdale real estate market is a popular choice for investors this year because of its still-low home prices and strong projections for economic growth. In a list of “Best Buy Cities” recently released by Forbes, Phoenix and Scottsdale real estate were among the top markets for 2014 investors.
With a swiftly recovering market, however, this year may be one of the last to invest in Scottsdale real estate. Increasing competition will soon drive home prices skyward, and interest rates will only remain low for so long. It will become much harder to find good investment deals on commercial and residential properties once interest rates rise.
If you are considering buying Scottsdale real estate, you will want to work with a Realtor who is familiar with the Scottsdale market and can help you make the right decision on a property. Call us at (602) 791-0536 or email Carmen@TopScottsdaleHomes.com to schedule a tour of homes. Don’t forget to visit our Scottsdale Real Estate Trends page for detailed information on current market conditions in Scottsdale and greater Phoenix.
Realtor | Attorney
Trillium Properties, LLC
8755 E Bell Road, Suite 108 | Scottsdale AZ 85260
Cell (602) 791-0536
Direct (800) 300-0263