Great questions and thanks for quick replies. I used piggington while I was shopping for house in 2012 and you all provided excellent help that helped me to make great decision during the down market.
Ok, here are more details, sorry I didn’t provide it upfront.
1) This is a 2000 sqft independent house in Chandler Arizona
2) It’s priced around 350K and we paid earnest money of 5,000$
3) I estimate the rent will be around 2100$ or so
4) Chandler has been a hot market, especially due to their outstanding schools. They are surely at the peak (this house would have costed 220K back in 2012/2013).
5) The builders are claiming that they are still seeing strong sales though I clearly witnessed that they moved from lottery system with multiple offers to tons of unsold units. so I wouldn’t believe them fully.
I hope this helps. I know 5,000$ is a lot of money but I am very concerned about not able to receive the rent and/or the house price plummets right after we buy.
