Phoenix MLS Predicting Lowest Median September Price in Nine Years (renter, appliances)

[roosevelt]

Originally Posted by Howard Roark

This post attracts me. However I prefer a place closer to the airport, like in Arcadia. I mostly work outside of Arizona.

What bothers me is that if I buy a house for $30,000 and live in it on weekends. how many times per year will I get the house broken into?

I calculate 261 times............

[MN-Born-n-Raised]

Originally Posted by roosevelt

I calculate 261 times............

In 2012, you get a free break-in.









Think Leap Year!

[Discovery1]

Now i know why lots of you bear still live in the apartments . Try to surf the world wide real estate market from Austrialia, Asia, Europe, Americas, and come back here tell us again if Phoenix is a BUY or not.

[_Charles_]

Originally Posted by Discovery1

Now i know why lots of you bear still live in the apartments . Try to surf the world wide real estate market from Austrialia, Asia, Europe, Americas, and come back here tell us again if Phoenix is a BUY or not.

It is not for those who are not in a position to buy.

And it will not be for cash buyers who get snookered into a bad deal by crooked real estate brokers.

[aliveandwellinSA]

I often view a foreclosure web site in Phoenix. When I entered a maximum price of $50,000, 2602 homes came up, so they are there, some nice, some not so nice, many is good areas.

[Ragnar]

If I rent a place to live in Phoenix for $800 per month and stay in it for five years, I've given the landlord $48,000. If I purchase a home for $125,000 and it declines in value by less than 38%(!), I come out ahead during those five years, nevermind the money I've also paid into the principal. Plus I have my own place and can do what I want do it.

Renting is a great short-term solution for some seasons in life, but with home prices as low as they are right now in Phoenix, renting may not be the best option for many people who can afford to buy. There is certainly great risk in buying a home now, but renting guarantees that you are throwing your money away.

Personally I absolutely love the thought of not having a mortgage, regarless of what my property value is doing in the short-term. Phoenix is a place that I can get a rather nice family home in a decent area with the goal of having the mortgage completely paid off in 5-15 years. That freedom from debt is very appealing to me.

[Pirate0202]

Wow, Ragnar. Great post! Loved your idea of coming out ahead even if the value of the house drops! I was considering renting for a year in Phoenix before buying, but what you said makes a lot of sense, so I'm re-thinking my strategy. Thank you.

[sh9730]

Ragnar and Pirate - while I am in the "prefer to buy" camp for non-tangible reasons such as you mention, in fairness the pro-renting/waiting crowd will point out that there ARE additional expenses inherent in home ownership that are all "built in" to a rent payment - i.e. insurance, maintenance, taxes etc. On the other hand you dont get a tax write off with a rent payment, but then again if you "invest" that extra money if you are renting you might come out ahead.

Thats why I ve always said rent vs buy is a personal choice and shouldnt be prescribed OR negated based solely on home monetary value. It is a factor, but not the MAIN decision making factor for me.

[Callo]

The simple solution to Phoenix's real estate troubles is large-scale demolition.

[Ritchie_az]

The simple solution to Phoenix's real estate troubles is large-scale demolition.

Um, no.