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Old 12-31-2014, 01:05 PM
 
428 posts, read 5,882,405 times
Reputation: 353

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Alright, I know there are a bunch of investors on here that have multiple investment properties. I know a lot of us have made a ton of money in the past two years, and some are being more modest about it than others. Lets all share how much we've all profited . I'll start, my house is up 40% in 2 years. I've seen some condos go up 250% (was $80k, now $280k) when I started looking. Looking back, I could kick myself in the ass for not snatching up more of these it area homes and flipping or renting them. I want stories, who else have profited big time and was lucky enough to snatch up several of these kinds of investment homes before we got back to our pre-crisis heights of today .
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Old 12-31-2014, 01:10 PM
 
Location: Tempe, AZ
1,484 posts, read 3,131,703 times
Reputation: 2380
Home values in my neighborhood (South Phoenix) have doubled in the last two years. I really wish I could have snatched up one of the foreclosures back then.
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Old 12-31-2014, 01:13 PM
 
4,620 posts, read 9,252,912 times
Reputation: 4979
My two rental properties in Scottsdale, 1 in Mesa and 1 in Chandler are up about the same ~40-45% since 2012 but most of that growth occurred in 2013. In fact, I would say all four have stabilized if not declined 2-3% in value over the past 6 months.

The property I live in in South Chandler is up about 30% in the past 1.5 years, but I bought it as a short sale which was discounted about 8-10% below market price at the time. IMO values will remain stable over the next 12 months or so, you may see some small declines in areas where interest rates are more sensitive (if rates increase), however this will have a negligible affect on the higher end houses.
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Old 12-31-2014, 01:39 PM
 
428 posts, read 5,882,405 times
Reputation: 353
you can keep dreaming, but our houses will NEVER drop to 2012 prices again. You'd be lucky that they stay at todays pricing, we are so it right now and inflation is continually happening, by 2020, our homes will probably double again.

And say i am wrong, and they were to drop again to 2012 levels. I know my greedy eyes will see dollar signs and will engulf as much as I can, and i bet every other investor will too. So that would be a blessing if they did drop, but i know better.

Last edited by vince3vince; 12-31-2014 at 01:48 PM..
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Old 12-31-2014, 07:23 PM
 
498 posts, read 542,059 times
Reputation: 883
Quote:
Originally Posted by vince3vince View Post
Alright, I know there are a bunch of investors on here that have multiple investment properties. I know a lot of us have made a ton of money in the past two years, and some are being more modest about it than others. Lets all share how much we've all profited . I'll start, my house is up 40% in 2 years. I've seen some condos go up 250% (was $80k, now $280k) when I started looking. Looking back, I could kick myself in the ass for not snatching up more of these it area homes and flipping or renting them. I want stories, who else have profited big time and was lucky enough to snatch up several of these kinds of investment homes before we got back to our pre-crisis heights of today .
Based on who/what Trullia? I see a lot of list prices but the selling prices always tend to be less or a lot less. Not saying prices haven't gone up, mine has gone up by 90% since late 2011 but that doesn't mean it would be an easy sell for that price. I still see the odd "give away " in the valley that makes me say WT*!
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Old 12-31-2014, 07:32 PM
 
Location: San Antonio
4,468 posts, read 10,588,849 times
Reputation: 4244
Quote:
Originally Posted by vince3vince View Post
you can keep dreaming, but our houses will NEVER drop to 2012 prices again. You'd be lucky that they stay at todays pricing, we are so it right now and inflation is continually happening, by 2020, our homes will probably double again.

And say i am wrong, and they were to drop again to 2012 levels. I know my greedy eyes will see dollar signs and will engulf as much as I can, and i bet every other investor will too. So that would be a blessing if they did drop, but i know better.
Never say never when it comes to real estate.
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Old 12-31-2014, 09:21 PM
 
Location: Bordentown
1,705 posts, read 1,593,845 times
Reputation: 2533
I bought my condo in Tempe for $90K in 2012. It's worth $20K more, now. I doubt that prices will drop to where they were 3, 4 years ago. Prices will continue to rise. I think that the entire Phoenix metro area (not just Phoenix and Scottsdale) is seeing an increase in price. (This is why I said in another thread "Tempe is so expensive!" I was comparing housing prices from 2012 to now and the prices really did increase quite a bit!)
Another friend of mine bought a house in Chandler in 2013 and paid $210K. He sold it for $250K a few months ago because he was moving out of state. He said he just about broke even because of all the fees and commission he paid in the sale.
Buy now because prices will only continue to climb!
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Old 01-01-2015, 07:40 AM
 
Location: Arizona
13,032 posts, read 7,160,756 times
Reputation: 9951
I bought 1 acre for 20k in north phoenix in 09 it's worth 120k now I wish I bought more. I'm going to hold it until retirement in 20 years I know city will grow and that land will be worth lot more. Only thing is taxes without a someone renting doesn't pay for it self. I also don't have the hassle of a renter as well. I'm planning on moving out of state my primary home should get about 100k over what I paid.
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Old 01-01-2015, 05:11 PM
 
Location: East Central Phoenix
8,029 posts, read 12,217,664 times
Reputation: 9806
Home values should be going up. Nobody should expect to pay dirt cheap prices for something that in many cases is a life long investment. You get what you pay for! Also, if you own real estate, you WANT your property values to keep increasing. It's never good to be in stagnation, or for values to be on the decline. That's not good for the overall economy either. Of course, we don't want another housing bubble like there was about 10 years ago, but a good steady appreciation in values is the way to go. Cheap housing tends to attract a cheaper element of people.
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Old 01-01-2015, 06:58 PM
 
939 posts, read 2,374,539 times
Reputation: 568
I've been following the market for the last 15 months and from what I've seen there's only been a slight increase from October 2013. I'm looking in a specific area, mainly Carefree, but North Scottsdale and Cave Creek as well, and I agree with Mike Orr:

https://wpcarey.asu.edu/news-release...vely-flat-year

Congrats to those who got in in 2011-2012, but I think you'll have to wait a lot longer for any more substantial gains. Be ready to enjoy your 2-4% annually for awhile.
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