INFORMATION FOR BUYERS AND SELLERS
Investment Opportunities
With the ups and downs of the market in the big city, more and more investors are finding the stable Real Estate market in Wickenburg a desirable place to invest. It is a fact that properties values don’t rise or fall as sharply in Wickenburg as they do with the market in general. But also keep in mind that Wickenburg is a small market, and we do have a lot of investors, and only limited number of opportunities. I will address several areas that investors frequently look at: commercial and residentially zoned land, Rentals, Bank Repossessions, Commercial buildings, and new construction. Of course feel free to contact an agent anytime to address your specific needs.
LAND
You might think Wickenburg would have an abundance of land, but that is not really true. Wickenburg is surrounded by public land, both BLM (Bureau of Land Management) and State Trust land, and thus the quantity of privately owned land is limited. It is rare to find parcels of land exceeding 10 to 20 acres in this area. Those few tracts of larger acreage in the Wickenburg area are of course highly sought after by developers. Many of our larger tracts of land are a result of a Guest Ranch that has decided to sell off land. Thus if you are developer looking at the Wickenburg area you are wise to not just look at land listing, but also at the residential listings that include large acreages. Also vital for the developer is to be represented by a local agent who is in tune with the local property owners and may very well be aware of a potential opportunity that is not actively listed. Looking at our surrounding areas is another option as these areas offer many more options for larger parcels of land and usually at a much lower price. Smaller parcels of land are easy enough to come by in Wickenburg, although the majority is residentially zoned, we have a very limited availability of commercially zoned land. We also have a limited availability of land that can be split. A typical parcel of land in Wickenburg is one to five acres, that is not under a home owners association, but is covered by CC&R’s (Covenants, Coves, and Restrictions) Despite the limited availability there almost always a few options for split able land, and that is definitely an area that has been profitable for investors around Wickenburg over the years.
RESIDENTIAL RENTALS
The profitability of rentals has certainly changed in recent years, but at least the demand for rentals in Wickenburg has stayed consistent. In general we see a good demand for lower priced rentals, and also we see a consistently high demand from Winter visitors looking for a short term rental. Wickenburg does have an inventory of older site built homes with build dates most commonly from the 1960’s to 1980’s. These homes have been most frequently looked at by investors. Multiple dwellings are of course always sought after by investors. We do have a number of multiple dwelling from duplexes to apartment complexes, we will certainly advise you about the availability of these properties.
COMMERCIAL BUILDINGS
There are frequently opportunities to purchase commercial buildings around the Wickenburg area. With the growth projections of population growth this is an area that continues to provide potential to investors. We typically have opportunities to purchase commercial buildings ranging from small stores to strip malls, and shopping centers.
Bank Repossessions / Fixer uppers
There are less Bank repossessions than you might think around Wickenburg. Since the typical buyer in Wickenburg is buying with cash or with large down payments we don’t see a lot of buyers defaulting. When we do have bank repossessions come on the market they are usually in our lowest price ranges, and of course your agent can advise you according if we do have any properties available. Fixer uppers around Wickenburg are not all that common either, of course the bank repo’s are usually fixer uppers, but beside that we might only have a few opportunities at any given time. Frequently these properties are only on the market for a short period; your agent will advise you accordingly.
NEW CONSTRUCTION
Going along with the availability and price of land, it may by that the best investment is to build on a property. Both residentially and commercially there may be a good opportunity for new construction. Keeping in mind that many of our buyers are nearing retirement age, and most often they do not want the hassle of building, so from a residential standpoint there could be some good opportunities in the is area. And going back to the topic of commercial buildings, the population growth we are expecting over the new few years might make the construction of new commercial buildings a viable investment.
