Glendale (Phoenix, Peoria: days on market, apartment complexes, to rent)

[NYtoVT]

Hello all -

Would appreciate some informatoion on the Glendale, AZ area. We are thinking of buying a home there and need some information on the housing market such as price appreciation (depreciation), days on market, schools, etc.

Thanx

NY

[dmiller01]

Parts of Glendale are pretty dangerous and have horrible schools. Other parts are quite nice though (Arrowhead, etc.) , but those areas are more expensive then they should be. I would definitely wait two years or so to buy a house. You'll save yourself $30,000 to $40,000 imo.

[NYtoVT]

Thanx for the info. Here's the deal. We currently live in UT but own a house in Vermont that we are trying to sell. There is an owner in Glendale that would swap their property in Glendale for our home in Vermont. Prices are very similar. If we could do the swap and sell the AZ property, it would sure help.

Thanx

NY

[dmiller01]

Is the market so slow in Vermont that you can't sell the house you have there? If you plan on selling the traded house in Glendale anytime soon, I wouldn't make the exchange. Phoenix is one of the most overvalued markets, the inventory is really high, and houses aren't selling really well.

By the way, if your plan is to trade houses make sure you do a 1031 exchange so you can defer capital gain taxes until you sell the traded house. If your time horizon is a couple of years you could make the exchange because when the market is hot, houses do sell quickly. However, you may have to rent it out while you wait for the market to turn and just be prepared for a bit of depreciation.

[ItalianGrl88]

a vermont property for a glendale property? for some reason that just doesn't sound fair to me.......

[NYtoVT]

Originally Posted by dmiller01

Is the market so slow in Vermont that you can't sell the house you have there? If you plan on selling the traded house in Glendale anytime soon, I wouldn't make the exchange. Phoenix is one of the most overvalued markets, the inventory is really high, and houses aren't selling really well.

By the way, if your plan is to trade houses make sure you do a 1031 exchange so you can defer capital gain taxes until you sell the traded house. If your time horizon is a couple of years you could make the exchange because when the market is hot, houses do sell quickly. However, you may have to rent it out while you wait for the market to turn and just be prepared for a bit of depreciation.

The market is slow and if the deal goes thru (which I doubt) then we would do a 1031 exchange. If the Phoenix area inventory is high and overvalued it probably wouldn't make any sense to do it. Hence the question on Glendale.

[NYtoVT]

Originally Posted by ItalianGrl88

a vermont property for a glendale property? for some reason that just doesn't sound fair to me.......

Hey, it wan't my idea . Saw it on Craigs List

[dmiller01]

Glendale is a suburb of Phoenix and its a very similar market. You may want to wait, since the market in Vermont is undoubtedly more stable and you probably won't be losing much, if any, of the value on your Vermont home. You can always wait until the market stabilizes here and at that time, get a more advantageous deal. There are several investment companies in Phoenix that will let you do a 1031 exchange at any time (they own apartment complexes and other properties in the Phoenix area).

Good luck!

[sablebaby]

I saw that ad and the house is at 55th ave and Peoria. Not too sure about that area. They say it's value is $499k.