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ODIN

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Just thought you might like to see what an 1800-2000 sqft home goes for here in the Phoenix Az. area on 1/6 acre

City - Median Price in 2004 - Median Price in 2005

Phoenix...... $143,500..... $206,000
Chandler.... $190,000..... $289,600
Gilbert....... $210,000..... $309,950
Tempe....... $185,000..... $266,000
Mesa......... $160,000..... $240,000
Goodyear.. $191,500..... $283,250
Glendale... $163,810..... $240,000
Surprise... $159,950..... $258,345
 
Oh my goodness, the home buying around here is CRAZY!!

I just purchased my first home this May here in Mesa. So, I'm a first time home buyer, and due to my stupid leasing agency, ended up looking to buy about 8months before I was ready. (long story short, I leased my old place with my 70ish lb dog, which they knew I had, but they never checked the property HOA rules, so I lived there for 1.5yrs with a dog in violation of the HOA rules...sucked!)

So when we started looking to buy, cuz we did not want to have another rental again, we had next to no savings, as we had not been prepared to buy...we got L U C K Y as we possibly could to find a townhome for 98k and the homeowners paid the closing costs. We are refinancing right now for a full 150k. not bad to make a profit of 52k in 7-8months.

When we were buying, my relator was showing me places that were being bought out from under us, while we were standing in them. Many homes are being bought here, sight unseen, for upwards of 10k over appraised value.... i'm hoping this slows down soon.

For any of you looking to relocate, let me know if you would like a relator, or financer in this area, and I can give you a few numbers. My relator is a friend of the family and based in mesa, the fiancer is a guy who has refi'd at least 5 HP rez agts that I can think of off the top of my head.
 
I'll be in the market for a double wide to rent out as a crash pad to a couple dozen
picksburgers.
 
There are nothing to these homes at those prices!! It's all stucco and tile!! $309,000 in PIT or CLT gets you a 2900 sq. ft custom brick home (not including basement sq footage), 3- car garage, gourmet kitchen with granite countertops, hardwood floors, marble tile, solid wood moldings, cherry cabinets, Jacuzzi bath tubs, landscaping, walk in closets, and a lot more. The market out west is way overrated. I ought to know, my old 1900 sq ft, $99,000 house in LAS just sold for $410,000 -- there was nothing to it!!! At that price, I would refuse to buy it on principle. Though, I will say the Arizona marketplace is much better than California and Nevada. To each his own, but for those of us out east, we aren't going to get a whole lot for our money if we move to AZ.
 
EyeInTheSky said:
There are nothing to these homes at those prices!! It's all stucco and tile!! $309,000 in PIT or CLT gets you a 2900 sq. ft custom brick home (not including basement sq footage), 3- car garage, gourmet kitchen with granite countertops, hardwood floors, marble tile, solid wood moldings, cherry cabinets, Jacuzzi bath tubs, landscaping, walk in closets, and a lot more. The market out west is way overrated. I ought to know, my old 1900 sq ft, $99,000 house in LAS just sold for $410,000 -- there was nothing to it!!! At that price, I would refuse to buy it on principle. Though, I will say the Arizona marketplace is much better than California and Nevada. To each his own, but for those of us out east, we aren't going to get a whole lot for our money if we move to AZ.
Click to expand...

Homes in PHX and area are of shoddy construction. Get 'er done and move on to the next project. A friend's son recently bought a house and a wall came apart as he put picture nails in the wall. If you purchase a newly built home go over it with a fine comb and don't let the contractor get away with shoddy workmanship. The same homes in PHX would fetch less than $100 K (tops) in PIT and that would be to a real sucker. The poor workmanship wouldn't pass muster there and it would go unsold.
 
barbeetantrums said:
Homes in PHX and area are of shoddy construction. Get 'er done and move on to the next project. A friend's son recently bought a house and a wall came apart as he put picture nails in the wall. If you purchase a newly built home go over it with a fine comb and don't let the contractor get away with shoddy workmanship. The same homes in PHX would fetch less than $100 K (tops) in PIT and that would be to a real sucker. The poor workmanship wouldn't pass muster there and it would go unsold.
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You hit THAT nail right on the head! I cannot believe how crummy some of these houses are. We looked at some, starting in the low 400's, one of the models had a few OBVIOUSLY crooked walls. When my parents bought their house 6 years ago, they had my uncle (a contractor) go through it in the framing stage and measure out EVERY room...my parents made the company reframe quite a bit of it as some of the walls were off by as much as 4" from one end to the other! Rediculous. How many people are lucky enough to have a family member be able to go through and do this kind of thing for them? I'm still curious about their neighbor's homes. (And this is in an area of mostly custom million dollar homes...I'm shocked the home owners actually allowed the "slap 'em up" cookie cutters in there.)

We're a bit afraid to buy a home around here as they are INCREDIBLY expensive. The house we live in, our landlords bought 2 years ago for $135,000. (About 15,000 below market as it was a HUD home and needed a bit of love.) There's a house across the street and down a few homes that is EXACTLY like ours, just sold 2 weeks ago for....(drum roll please...) $305,000!!! OMG! These houses are NOT worth that much. Luckily, we did sign a contract a year ago that states if we choose to buy this house, we'll get it for $210,000. You can bet that we'll moving on it just after Christmas.
 
EyeInTheSky said:
There are nothing to these homes at those prices!! It's all stucco and tile!! $309,000 in PIT or CLT gets you a 2900 sq. ft custom brick home (not including basement sq footage), 3- car garage, gourmet kitchen with granite countertops, hardwood floors, marble tile, solid wood moldings, cherry cabinets, Jacuzzi bath tubs, landscaping, walk in closets, and a lot more.
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:blink: Psssst!!! Sssshhhhh!!! Please keep this as the best kept secret!!!! Hoping to end up in CLT before the real estate goes really crazy like in FL or PHX!!! :unsure:
 
singh4us said:
:blink: Psssst!!! Sssshhhhh!!! Please keep this as the best kept secret!!!! Hoping to end up in CLT before the real estate goes really crazy like in FL or PHX!!! :unsure:
Click to expand...

LOL! NO KIDDING! Poor CLT people will probably feel overrun with all the West people that'll be moving out there. 😛
 
ODIN said:
City - Median Price in 2004 - Median Price in 2005
Mesa........ $160,000..... $240,000
Goodyear.. $191,500..... $283,250
Click to expand...
I hear the prices in Mesa have hit a plateau, but the prices in Goodyear are going up like a blimp... :shock:
 
heyray said:
I'll be in the market for a double wide to rent out as a crash pad to a couple dozen
picksburgers.
Click to expand...

Gee, we'd just as well live in a trailer than rent off yonz.
:angry:
 
$143,000 for pHoenix??? I don't think so! That's not a house, that's a 1 bedroom condo!

I looked around for a home for my parents and the $150,000 range are fixer uppers!
 
So when we started looking to buy, cuz we did not want to have another rental again, we had next to no savings, as we had not been prepared to buy...we got L U C K Y as we possibly could to find a townhome for 98k and the homeowners paid the closing costs. We are refinancing right now for a full 150k. not bad to make a profit of 52k in 7-8months.


WADR, you haven't made a penny on your home yet. You were allowed to borrow more money on it under the assumption (faulty) that it really is worth more now and the bank can get it's money back if you decide you can't pay anymore. This crazy speculation ran the Tokyo real Estate market up to a point that at one time the real estate in Tokyo was worth more than all the real estate in the U.S. west of the mississippi. This is a market driven by a bunch of moronic insomniacs who figured they could be real estate millionares because two midgets (or maybe only one now...), or Charlton Sheets told them they could for the purchase of a nifty real estate guide. These people WILL run for the door at the first sight of trouble, and the market will have "issues". The only hope is that it retreats in a slow enough manner to avoid a forclosure driven collapse. I'm thinking if your job required you to move tomorrow and your Townhouse would only fetch $120,000 you couldn't produce the check at closing to cover the differance, even though the $120 K would still represent a tidy profit. Which sub markets do you think is attracting the most speculators? $1,000,000 custom homes? Or CONDO's and TOWNHOMES? If you don't think it can happen, read up on the Houston Tx market. This is a PONZI scheme. Ponzi got rich, you will be holding the bag.
 
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