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Buying Fixer-Upper Real Estate in Flagstaff Arizona
- Real Estate Relocation
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When you first start looking for homes in Flagstaff Arizona you may find some “steals” on the Web. Homes that are advertised as handyman’s specials. It is very important to look at the neighborhood when looking at these houses. If the homes surrounding the house in question are well maintained and it is a nice neighborhood, then you should calculate what it will take to improve the home to a comparable standard. If the cost of the fixer-upper and the cost of the home improvements is still under the median cost of other houses in the neighborhood and you have the skills or the cash to do the repairs, then buying a fixer-upper might be a good investment. You can then make the house into your home!
However, beware of homes that are extremely cheap in neighborhoods that are in a decline. The home’s price may be not only a reflection of the condition of the house, but of the declining neighborhood. This is where a Flagstaff Real Estate agent who is an expert in Relocation to Flagstaff Arizona can help you evaluate whether the purchase will be a sensible investment for you. Click on the FREE “Relocation to Flagstaff Arizona” real estate information package. One of our Flagstaff Arizona Real Estate agents will contact you to help with your relocation to Flagstaff Arizona.
Whatever you do, if you are considering buying a fixer-upper home, make sure you have it inspected by a qualified home inspector. Place a contingency clause in the contract subject to approval by you of improvement estimates. Repairs that you guess may take $10,000 may end up costing twice that! Make sure that before you close you have the necessary skills and assets to turn the house into a home within your budget! Click on the link above and our New Quest City Flagstaff Real Estate agent can help you with your relocation to Flagstaff Arizona by providing guidance and expert advice on every process of the purchase.
FINANCING A FIXER-UPPER. Some mortgage lenders will allow you to close on the home with a construction loan and then place permanent financing on the home as soon as the repairs are made. This gives you the freedom to put your cash down on the home to benefit from reducing or eliminating Private Mortgage Insurance without having to come up with additional cash to do the improvements. Your New Quest City Flagstaff Arizona Relocation Realtor can help you find a local mortgage company that can help you with a construction loan.
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In 1855, then-Lieutenant Beale, surveyed a road from the Rio Grande in New Mexico to Fort Tejon in California. He passed over the spot where Flagstaff now stands, and camped out at the eastern extremity of the present town. The lieutenant had his men cut the limbs from a straight pine tree in order to fly the United States flag. Flagstaff’s first recognized permanent settler was Thomas F. McMillan, who arrived in 1876 and built a cabin at the base of Mars Hill. During the 1880s, Flagstaff began to grow, opening its first post office and attracting the booming railroad industry. The town's economy largely consisted of timber, sheep and cattle, and by 1886, Flagstaff was the biggest city on the main line between Albuquerque and the West Coast. In 1894, astronomer Percival Lowell chose Flagstaff as the site for the now famous Lowell Observatory, primarily due to its high altitude and good astronomical seeing conditions. -- Source: Wikipedia.com
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Census Data for Flagstaff, Arizona
| Flagstaff | Arizona | United States | |
| Population | 52,894 | 5,130,632 | 281,421,906 |
| Median age | 26.8 | 34.2 | 35.3 |
| Median age for Male | 26.6 | 32.9 | 34 |
| Median age for Female | 27.2 | 35.5 | 36.5 |
| Households | 19,306 | 1,901,327 | 105,480,101 |
| Household population | 50,041 | 5,020,782 | 273,643,273 |
| Average household size | 2.59 | 2.64 | 2.59 |
| Families | 11,604 | 1,287,367 | 71,787,347 |
| Average family size | 3.13 | 3.18 | 3.14 |
| Housing units | 21,396 | 2,189,189 | 115,904,641 |
| Occupied units | 19,306 | 1,901,327 | 105,480,101 |
| Vacant units | 2,090 | 287,862 | 10,424,540 |
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