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View Poll Results: Do you know someone who has had a problem finding a home to purchase?
yes 55 56.70%
no 39 40.21%
unsure 3 3.09%
Voters: 97. You may not vote on this poll

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Old 05-31-2013, 08:28 AM
 
Location: Calgary, AB
681 posts, read 1,560,431 times
Reputation: 750

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Quote:
Originally Posted by DetroitN8V View Post
Nope. It was an $8 million plus home with 7500+ sq ft. Extreme, I know.
I never really thought about the square foot price of "those" type of homes before, because I'm never going to be in the market for one of them (unless I have a massive lottery win).

A lot of them are probably really up in the stratosphere though on a per/sq ft price. Disturbing, but I guess you have that much money the last thing you look at is the price per sq/ft?
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Old 05-31-2013, 08:43 AM
 
9,196 posts, read 16,641,113 times
Reputation: 11323
I just don't think price per square foot is a very good way to determine a house's value. It really doesn't take land value into consideration. For example a smaller home would be priced higher per sq ft than a larger home on the same lot to factor in the value of the lot.
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Old 05-31-2013, 12:04 PM
 
Location: Centennial, CO
2,276 posts, read 3,077,005 times
Reputation: 3781
Quote:
Originally Posted by DetroitN8V View Post
I just don't think price per square foot is a very good way to determine a house's value. It really doesn't take land value into consideration. For example a smaller home would be priced higher per sq ft than a larger home on the same lot to factor in the value of the lot.
It's a good comparison on a macro scale but not on a micro scale. If you have a place where the majority of lots are similar sized then it's a pretty accurate comparison metric. And yes, smaller square footage homes will tend to average a higher price per sq. ft. than larger sized homes. The same even holds true for condos where there is usually no land involved.
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Old 06-08-2013, 05:21 AM
 
Location: Arizona
1,665 posts, read 2,946,301 times
Reputation: 2384
Lennar CEO Stuart Miller echoed those findings on CNBC. He said that slight increases in rates “are not going to stop the progress forward.”
In fact, he says that housing still has a long way to go to catch up to population demands. He estimated that the nation needed to construct about 1.25 million to 1.5 million homes over the past few years to meet population growth demands, yet less than half of that—only about 500,000—were actually constructed.


Rising Rates Won't Put Housing Out of Reach | Realtor Magazine
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Old 06-08-2013, 10:44 PM
 
Location: CA
595 posts, read 1,256,002 times
Reputation: 361
Default Also said

One can not be picky as long as it has 3 bedrooms /2 baths you need to buy it and learn to love it. A home is NOT an unemotional business investment or a month to month rental...
Quote:
Originally Posted by autism360 View Post
Real estate: Phoenix leads nation in flash sales - CBS 5 - KPHO
"Flash sales mean here today, gone in a minute," said Marge Peck, a Mesa real estate broker with The Peck Team.
According to a recent study of multiple sale listings in 21 cities across the country, Phoenix leads the nation in flash sales - homes that sell within 24 hours of being listed.
About 540 of them went that fast during the last five months.
Experts attribute flash sales to low inventory and high demand.
"We listed five homes this weekend and I had an agent call me 45 minutes after it hit the MLS and we already had multiple offers," said Peck.

These homes were sold in less than 45 minutes of hitting the market!!!!!!!!!!!!!!!!!
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Old 06-08-2013, 10:51 PM
 
Location: USA
3,966 posts, read 10,697,875 times
Reputation: 2228
Quote:
Originally Posted by PinkElephant View Post
One can not be picky as long as it has 3 bedrooms /2 baths you need to buy it and learn to love it. A home is NOT an unemotional business investment or a month to month rental...
burbs are not really planned to stay in a home long term. People buy a home near work or school. Either find a better job or have to go to another school, people will move. Maybe it's the consumerism mentality.
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Old 06-09-2013, 12:34 AM
 
Location: CA
595 posts, read 1,256,002 times
Reputation: 361
Default My burb was

And I so thankful to have grown up where and when I did. Hope to find something similar in PHX and find a burb that will be my next home!
Quote:
Originally Posted by shiphead View Post
burbs are not really planned to stay in a home long term. People buy a home near work or school. Either find a better job or have to go to another school, people will move. Maybe it's the consumerism mentality.
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Old 06-25-2013, 07:12 PM
 
Location: Arizona
1,665 posts, read 2,946,301 times
Reputation: 2384
Quote:
WASHINGTON -- U.S. home prices jumped 12.1 percent in April from a year ago, buoyed by strong demand and a limited supply of available homes. Strong gains in a wide range of cities point to a broad-based housing recovery.
US home prices rise in April by most in 7 years

The supply problem is not improving and prices will continue to climb until the builders ramp up the supply
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Old 06-25-2013, 11:46 PM
 
2,806 posts, read 3,177,385 times
Reputation: 2703
Do you guys see any slowing in homebuying in Phoenix with mortgage rates around 4.5% now? A few months back we were at 3.5%. I see a couple more listing along my bike-way to work, but still no real inventory compared to anything in the last 5 years. It's hot out there on the bicycle though these days!
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Old 06-26-2013, 12:11 AM
 
Location: Tucson for awhile longer
8,869 posts, read 16,316,053 times
Reputation: 29240
Homes in the price range of mine ($200,000-300,000), which are constantly said to be super-popular, are still far below what they were eight years ago in Tucson. My house is in the very popular NW section, in an area with a good school district and the lowest property taxes possible (we are in unincorporated Pima, not paying to City of Tucson, Marana, OR Oro Valley). What's not to like, right?

It's easy for me to track the market value of my home since there are others in the area of the same plan by the same builder. I paid $275,000 in 2005. For most of the time since then, my house plan has been on the market for no more than $175,000. We finally have one listed in the subdivision with an asking price of $220,000 — the highest it's been since the crash. I doubt the sellers will get that price, though. There are more attractive houses of the same size for sale for much less. People have held on to their homes as much as they could because prices were so low. There were virtually no rental properties in my subdivision when we moved here. Now there are plenty. All owned by folks who want to sell but can't yet recover what they paid.

I have lots of improvements I'd love to do on my house, but I've resisted mightily since I know it's unlikely I will ever get my money back. I have some hope for recovery, mainly due to the fact that builders here haven't been building new homes in "my" price range to any extent and my neighborhood is popular. But they can put them up really fast, so I fear if the market recharges, they will start building new and buyers won't want my "used" home.
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