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Old 12-15-2010, 09:49 AM
 
203 posts, read 268,397 times
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Good luck living in your trailer 60 miles from Phoenix.
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Old 12-15-2010, 02:29 PM
 
2,943 posts, read 3,685,772 times
Reputation: 1116
Quote:
Originally Posted by twnkltst View Post
We're actually not looking to make the purchase until 8-10 months from now, so hopefully the prices will be even lower by then.

We're not necessarily looking for a huge house, around 1200 sqf+ would be fine. That's about $66 per sqf, which I don't think is unrealisticly low?

Fall is always the off-season for Phoenix real estate. Prices could go lower--especially at the top end of the market (which it does not sound like you are in)--but consider that the market will (and has already begun to) pick up a little in the winter. In my opinion (based on historical data, and some short term predictions from seemingly reliable sources that have been posted on this forum), the bottom of the market will go up over the next nine months (or more). I don't have a crystal ball, so I could certainly be wrong. I'm just saying don't count on the market falling, because it's just as likely (or much more likely, IMHO) that the market will do the opposite (especially at the bottom end).

As far as $66 per square foot, you will find that mostly in the very outer suburbs. The closer in you are, the harder it will become to find those prices (and when you do, it's generally in "questionable" neighborhoods). So the very outer suburbs is where your search should start.

I would also contact a realtor. He or she should be able to guide you to what you are looking for.
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Old 12-31-2010, 01:03 PM
 
Location: west coast
619 posts, read 911,671 times
Reputation: 246
Quote:
Originally Posted by Ritchie_az View Post
Fall is always the off-season for Phoenix real estate. Prices could go lower--especially at the top end of the market (which it does not sound like you are in)--but consider that the market will (and has already begun to) pick up a little in the winter. In my opinion (based on historical data, and some short term predictions from seemingly reliable sources that have been posted on this forum), the bottom of the market will go up over the next nine months (or more). I don't have a crystal ball, so I could certainly be wrong. I'm just saying don't count on the market falling, because it's just as likely (or much more likely, IMHO) that the market will do the opposite (especially at the bottom end).

As far as $66 per square foot, you will find that mostly in the very outer suburbs. The closer in you are, the harder it will become to find those prices (and when you do, it's generally in "questionable" neighborhoods). So the very outer suburbs is where your search should start.

I would also contact a realtor. He or she should be able to guide you to what you are looking for.
sounds like you're a real estate agent yourself
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Old 12-31-2010, 03:24 PM
 
2,943 posts, read 3,685,772 times
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No, I'm not. My job is in aviation safety. What about my post do you disagree with?
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Old 01-05-2011, 04:03 PM
 
2,381 posts, read 1,255,429 times
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"Prices could go lower--especially at the top end of the market (which it does not sound like you are in)--but consider that the market will (and has already begun to) pick up a little in the winter. In my opinion (based on historical data, and some short term predictions from seemingly reliable sources that have been posted on this forum), the bottom of the market will go up over the next nine months (or more). I don't have a crystal ball, so I could certainly be wrong. I'm just saying don't count on the market falling, because it's just as likely (or much more likely, IMHO) that the market will do the opposite (especially at the bottom end)."

It's slowing but it isn't at a bottom. Chances are it will keep going down

HousingTracker.net | Median Home Asking Price & Inventory Data for Phoenix, Arizona

April 2006 low end was 259.9K
april 2007 low end was 234K (not much of a drop)
April 2008 low end was 181K (whoa mama!)
April 2009 low end was 115K (nearly 33% off in the course of a year)
April 2010 low end was 105K
currently it's at 87.5K (off nearly 17% in just six months!)

If anything the rates are going faster now.

The difference between high, mid and low end keeps shrinking.

The sad part is the low end 2006 is now the high end now !!

I'm not saying it's a bad place at all. It's not even the worst market (that's vegas) But the drops will keep going it's nearly a nationwide thing
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Old 01-05-2011, 07:40 PM
 
2,943 posts, read 3,685,772 times
Reputation: 1116
Quote:
Originally Posted by mdovell View Post
"Prices could go lower--especially at the top end of the market (which it does not sound like you are in)--but consider that the market will (and has already begun to) pick up a little in the winter. In my opinion (based on historical data, and some short term predictions from seemingly reliable sources that have been posted on this forum), the bottom of the market will go up over the next nine months (or more). I don't have a crystal ball, so I could certainly be wrong. I'm just saying don't count on the market falling, because it's just as likely (or much more likely, IMHO) that the market will do the opposite (especially at the bottom end)."

It's slowing but it isn't at a bottom. Chances are it will keep going down

HousingTracker.net | Median Home Asking Price & Inventory Data for Phoenix, Arizona

April 2006 low end was 259.9K
april 2007 low end was 234K (not much of a drop)
April 2008 low end was 181K (whoa mama!)
April 2009 low end was 115K (nearly 33% off in the course of a year)
April 2010 low end was 105K
currently it's at 87.5K (off nearly 17% in just six months!)

If anything the rates are going faster now.

The difference between high, mid and low end keeps shrinking.

The sad part is the low end 2006 is now the high end now !!

I'm not saying it's a bad place at all. It's not even the worst market (that's vegas) But the drops will keep going it's nearly a nationwide thing
Does anyone here have price-per-square-foot data? I think that could be quite helpful.
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