South of Indian School but North of Thomas in the 50's...Thoughts?

[Kimballette]

Originally Posted by drcpa

Thanks, so you wouldn't be concerned about it's proximity to Thomas, etc? Are the schools decent?

Thanks

I think it's a nice area, and wouldn't be concerned. I have no school-age kids, so have no idea about the quality of the schools, but others will be by later to chime in, I'm sure.

[observer53]

Scottsdale School District, so schools are okay. I don't see Thomas Road as some significant dividing line as you may have read from others. Like other parts of the Valley, neighborhoods in theseolder areas vary a bit, but I would not write off the entire area near Thomas. There's some nice parts, too, as the home you posted the link to suggests.

[khuntrevor]

Originally Posted by drcpa

Thanks, I've considered those homes, but the one above indian school is too small and the homes on osborn i crossed off my list since the street is pretty busy. I was thinking about something more along the lines of this:

5048 E Cheery Lynn Rd, Phoenix, AZ 85018 MLS# 4515322 - Zillow}

Thoughts?

good house, been on the market for 4+ months, and it is a shortsale--wait a few months and it will be reo.

[MaxPower123]

The proximity to Thomas Rd. is a non-issue, IMO.

[Jkgourmet]

Originally Posted by khuntrevor

good house, been on the market for 4+ months, and it is a shortsale--wait a few months and it will be reo.

Just out of curiosity - how much would a house like this in that location rent for on an annual lease, unfurnished? Thoughts, anyone?

[drcpa]

Originally Posted by khuntrevor

good house, been on the market for 4+ months, and it is a shortsale--wait a few months and it will be reo.

Thanks...what are your personal thoughts on REO's? I've heard that if a home becomes an REO it won't necessarily be cheaper to purchase...but it would be an easier transaction (i.e. not dealing with the bank). Or am i mistaken, and is there a pretty big price differential between REO's and short-sales?

Thanks

[Cyborg13]

Thomas in the east where you are looking is not an issue. If it was Thomas/50-ish Ave in the west, that would be an issue, and an area to avoid for sure.

[scratchNsniff]

That's an OK area, my realtor told me otherwise, but it's fine. St Theresa Catholic Church is nearby and my grandparents are buried in the cemetery out there, there's a nice green belt they built over the canal for walking/biking nearby too. It is good due to its proximity to the Arcadia area--sorta like "Arcadia adjacent" or "Beverly Hills adjacent"--still a good area, IMO. Good solid brick homes from the 1950s and 1960s, they don't make em like that any more.

[khuntrevor]

Originally Posted by drcpa

Thanks...what are your personal thoughts on REO's? I've heard that if a home becomes an REO it won't necessarily be cheaper to purchase...but it would be an easier transaction (i.e. not dealing with the bank). Or am i mistaken, and is there a pretty big price differential between REO's and short-sales?

Thanks

My advice...only buy REO. Cash is king. Rent on that house would be 1750ish+.