Fountain hills insanity (Phoenix, Scottsdale, Peoria: appointed, rental, homes)

[DetroitN8V]

Originally Posted by Valley Native

Gone are the days when Phoenix was seen as a cheap haven. It's not cheap to live here anymore, and the home prices are a clear sign of it. We can still be affordable compared to many cities in CA, but being cheap does little for us other than attract cheap people who are here for cheap reasons. Hopefully, the spike in prices will attract better quality newcomers who are business & goal oriented, rather than because it's sunnier & cheaper than where they came from!

This. Too many people move here because they can’t afford quality “back home”.

[CA to AZ]

Originally Posted by Valley Native

Gone are the days when Phoenix was seen as a cheap haven. It's not cheap to live here anymore, and the home prices are a clear sign of it. We can still be affordable compared to many cities in CA, but being cheap does little for us other than attract cheap people who are here for cheap reasons. Hopefully, the spike in prices will attract better quality newcomers who are business & goal oriented, rather than because it's sunnier & cheaper than where they came from!

Phoenix shouldn’t be getting too expensive ether because eventually the houses won’t be worth it when you can buy an average house by the beach over a super expensive luxury McMansion in the middle of a scorching hot desert.

[Obadno]

Originally Posted by westcoastforme

I see another real estate crash coming

There are plenty of Phoenix sub markets that aren’t even at their 2006 highs, we are actually at quite an expected price on a solid 4-5% value increase a year.

Maybe some submarkets like Arcadia are overbought for sure but a general market crash and housing collapse a la 2006-2008 isn’t in the cards. If there is another recession (there will be) it’s likely to be much shorter and less severe than the last and he prices should recover quickly and not fall so far.

You should be happy recessions like the one we just went through happen once in a century. You got nothing to worry about.

[Obadno]

Originally Posted by CA to AZ

Phoenix shouldn’t be getting too expensive ether because eventually the houses won’t be worth it when you can buy an average house by the beach over a super expensive luxury McMansion in the middle of a scorching hot desert.

Why don’t you just move if you don’t like it. Save t for your psychiatrist and spare us the act

[yukon]

Nice view but all the inside brown is depressing. If I had that kind of money, I still wouldn't buy the place knowing I'd be repainting every single wall in that house. Ugh.

[KurtAZ]

Originally Posted by westcoastforme

Values going too high too fast.

Not really...it is supply and demand. Look at all the people on this forum every day...or on FB in the Living Chandler Group saying they are moving to AZ. "Moving to AZ...I want the best of everything" "Moving to AZ...how do I get my kid into BASIS" "Moving to AZ...how hot is it really". It is July and our local Fry's parking lot is covered with out of state license plates. (Pretty sure they are not here to enjoy the Dry Heat) Houses in my area are being snatched up in a week with bidding wars again. Maybe it is because we are by Intel, maybe it is because CUSD is one of the top rated school districts in the state...whatever the reason...people are still moving here in droves. That means the demand for available housing is going to go up, which raises the prices. Builders are starting to build again and resale homes are in demand as well.

I don't think this is a bubble. It is people wanting to live in this state...and bringing cash with them to do it.

[fluffythewondercat]

Originally Posted by yukon

Nice view but all the inside brown is depressing. If I had that kind of money, I still wouldn't buy the place knowing I'd be repainting every single wall in that house. Ugh.

I don't care for Fountain Hills because often the view is of the other houses on the next ridge over. That's not my idea of enjoying nature.


But you're right, it's a relatively small house and the brown just makes the rooms look smaller.

[westcoastforme]

Originally Posted by KurtAZ

Not really...it is supply and demand. Look at all the people on this forum every day...or on FB in the Living Chandler Group saying they are moving to AZ. "Moving to AZ...I want the best of everything" "Moving to AZ...how do I get my kid into BASIS" "Moving to AZ...how hot is it really". It is July and our local Fry's parking lot is covered with out of state license plates. (Pretty sure they are not here to enjoy the Dry Heat) Houses in my area are being snatched up in a week with bidding wars again. Maybe it is because we are by Intel, maybe it is because CUSD is one of the top rated school districts in the state...whatever the reason...people are still moving here in droves. That means the demand for available housing is going to go up, which raises the prices. Builders are starting to build again and resale homes are in demand as well.

I don't think this is a bubble. It is people wanting to live in this state...and bringing cash with them to do it.

Good points

[locolife]

Originally Posted by Valley Native

Gone are the days when Phoenix was seen as a cheap haven. It's not cheap to live here anymore, and the home prices are a clear sign of it. We can still be affordable compared to many cities in CA, but being cheap does little for us other than attract cheap people who are here for cheap reasons. Hopefully, the spike in prices will attract better quality newcomers who are business & goal oriented, rather than because it's sunnier & cheaper than where they came from!

Not just California, we are literally cheaper than every other large city in the West except Tucson, which for whatever reason virtually nobody moves to Tucson. We're a bargain city with a booming economy, higher education opportunities, and all the benefits of big city living in the sunbelt. We were bound to see prices come in line with the region and we aren't even close to where it could be.

Here is the data:
Salt Lake City: $350,000
Denver: $503,000
Las Vegas: $265,000
Reno: $352,000
Portland: $428,000
Seattle: $770,000
Sacramento: $316,000
SF: $1.6M
LA: $576,000
SD: $595,000

Phoenix: $236,900

[locolife]

Originally Posted by KurtAZ

Not really...it is supply and demand. Look at all the people on this forum every day...or on FB in the Living Chandler Group saying they are moving to AZ. "Moving to AZ...I want the best of everything" "Moving to AZ...how do I get my kid into BASIS" "Moving to AZ...how hot is it really". It is July and our local Fry's parking lot is covered with out of state license plates. (Pretty sure they are not here to enjoy the Dry Heat) Houses in my area are being snatched up in a week with bidding wars again. Maybe it is because we are by Intel, maybe it is because CUSD is one of the top rated school districts in the state...whatever the reason...people are still moving here in droves. That means the demand for available housing is going to go up, which raises the prices. Builders are starting to build again and resale homes are in demand as well.

I don't think this is a bubble. It is people wanting to live in this state...and bringing cash with them to do it.

Totally agree, we have regular flyers on our door again with people proposing cash offers to buy our home right now. It's not for sale and no plans for it to be available any time soon. I see unsolicited offers as a strong economy.

What's been interesting about this boom is the volume of infill it's creating, central Phoenix between the 7's is really taking off like we thought it would in 2005-2006 timeframe but it never materialized. It's really nice to see the 6 cranes in downtown now with another 5 hopefully coming soon with Palm Tower & Marriott Midrise at AZC, Kenect PHX, Berger Hotel, Collier Center...