By Paul Maryniak | Scottsdale Progress
Did the Super Bowl take the bloom off short-term rentals’ rose?
Valley housing market analyst The Cromford Report thinks it might – and maybe ought to.
It suggested two weeks ago that owners of such properties may find a better opportunity for making more money with the Valley’s unrelenting housing shortage and going for long-term rents before cashing in big when home sale prices peak.
Blame it on the Super Bowl, it said.
The Cromford Report said that while short-term rental landlords were looking forward to cashing in big time on out-of-state traffic to the big game, they scored no touchdown.
“Many owners were disappointed with their receipts from the Super Bowl,” the Cromford Report said. “We seem to have an excess of short-term rental supply which means owners are having to compete with each other on price for short-term tenants.
