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Old 05-18-2008, 12:29 PM
 
6 posts, read 12,469 times
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Yes I am a real estate investor looking to invest in the booming foreclousure markets of goodyear and surprise. Can anyone give some advice which city would do better in the next 5 to 10 years for appreciation and growth?
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Old 05-18-2008, 03:40 PM
 
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Sorry, I can't recommend anywhere for an investor and then watch it go crazy again.
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Old 05-18-2008, 05:35 PM
 
Location: Hard aground in the Sonoran Desert
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It seems to me that Goodyear is in a better location (being closer to the freeway and downtown Phoenix).
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Old 05-18-2008, 09:47 PM
 
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Quote:
Originally Posted by johnhoff56 View Post
Yes I am a real estate investor looking to invest in the booming foreclousure markets of goodyear and surprise. Can anyone give some advice which city would do better in the next 5 to 10 years for appreciation and growth?
Booming and foreclosure are mutually exclusive. The reason the areas are foreclosing is because they aren't booming but declining. 5-10 years could see prices flat after another 10-25% drop this year and next. Factor in inflation, carrying costs, maintenance, taxes, insurance, etc... The way these bubbles historically resolve takes years and this one is the worse ever. There are better places to put your money. I will give one piece of advice. If you need to ask for real estate investment advice and decided this forum was a good place to do it, hire a proffessional or put your money in a mutual fund.
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Old 05-18-2008, 11:28 PM
 
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Originally Posted by markas214 View Post
I will give one piece of advice. If you need to ask for real estate investment advice and decided this forum was a good place to do it, hire a proffessional or put your money in a mutual fund.
I thought the same thing.
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Old 05-19-2008, 12:58 PM
 
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Both Goodyear and Surprise have good commercial growth still occurring, so either would be good is my guess.
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Old 05-19-2008, 01:03 PM
 
Location: Sonoran Desert
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Both Goodyear and Surprise have malls planned/under development. Macy's recently announced a store for the Goodyear mall, Walmart was announced as an anchor for the Surprise mall. Goodyear median income is one of the highest in the metro area, Surprise is just average.

I don't mean to put down Surprise because it is a nice city and a good place to live. But Goodyear is on track to be the higher end community. That doesn't translate directly to appreciation, though. I think more money can be made buying up properties in Avondale than either of these cities.

Last edited by Ponderosa; 05-19-2008 at 01:14 PM..
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Old 05-19-2008, 02:52 PM
 
Location: Oxygen Ln. AZ
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I like both areas. If I really had a clue, I would be down there buying. Please ask a professional before you leap. Good luck.
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Old 05-19-2008, 04:37 PM
 
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thank you for all of your replies, however I have already bought 4 in Surprise at 60 cents on the dollar, so by your responses I guess I will now head to Goodyear..
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Old 05-19-2008, 09:18 PM
 
611 posts, read 1,991,431 times
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Originally Posted by johnhoff56 View Post
thank you for all of your replies, however I have already bought 4 in Surprise at 60 cents on the dollar, so by your responses I guess I will now head to Goodyear..
Wow you bought 4 houses since yesterday? Great news. Those two replies must have really sealed the deal.
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