Future Home Values (Phoenix, Surprise, Queen Creek: real estate, mortgage, how much)

[gregandvicky]

If you were to buy a new home, considering future appreciation, which area do you think would be best for 4 or 5 years down the road???

Maricopa Queen Creek Anthem Merrill Ranch

I know no one has a crystal ball but wondering from an Arizonans perspective which area will make the quickest comeback and have future growth.

Maricopa seems closer to Phoenix which might help future resale considering commute time.

Queen Creek seems very depressed right now so may be good for future value.

Anthem Merrill Ranch is far out, but with retirees and the incredible Community Center, may be the best bet.

Thanks for you opinions.

[sablebaby]

Whichever one is most desirable to others. Which one is the best for "location, location, location"? Possibly Maricopa due it not being too far out as the other two?

If I were in the market for a home, (not new as I don't care for the far out areas that are still building), I'd choose the area that I liked the best that I could afford. Just about every area sank pretty good, so the values are outstanding. For me, it might be Arrowhead Ranch unless I found something better.

[KoryO]

Look for something closer in to town. Gas prices are killing the outlying property values, and I don't think we're going to see $2 a gallon prices any time soon.

But hey, if you actually like one hour commutes, you've got the right places in mind. Just don't kid yourself that the appreciation in the future is going to be anything at all like it was before the market crashed. That bus done left the terminal.

[sheena]

Originally Posted by gregandvicky

If you were to buy a new home, considering future appreciation, which area do you think would be best for 4 or 5 years down the road???

Maricopa Queen Creek Anthem Merrill Ranch

I know no one has a crystal ball but wondering from an Arizonans perspective which area will make the quickest comeback and have future growth.

Maricopa seems closer to Phoenix which might help future resale considering commute time.

Queen Creek seems very depressed right now so may be good for future value.

Anthem Merrill Ranch is far out, but with retirees and the incredible Community Center, may be the best bet.

Thanks for you opinions.

Just for my benefit I hope it will be the area of the new San Tan Village
Seems to be lots of corporate coming in and Cancer research.

[Beena]

d) "none of the above".

We in it for the long haul right now. Or if you don't buy that then you could just purchase one in each area and flip them. :0

[MotleyCrew]

Today I got wind from someone who works in construction that a developer down in Queen Creek is raising their home prices next week and the incentives are dropping. They feel that this is the bottom. Do not take this as anything but hearsay. I just found it interesting that someone feels that the bottom in near. Who knows for sure.

[altus2006]

Originally Posted by MotleyCrew

Today I got wind from someone who works in construction that a developer down in Queen Creek is raising their home prices next week and the incentives are dropping. They feel that this is the bottom. Do not take this as anything but hearsay. I just found it interesting that someone feels that the bottom in near. Who knows for sure.

New home builders have been playing this song for months, trying to lure the buying public into thinking we are at the "bottom". As a person who has watched the new house market for months, I can say that some prices will be raised for short periods of time and then will be reduced below the levels they were before the house prices were raised.

I was looking at homes online today and could not believe how low some of the prices were for models I had looked at last October. They were so low (30% off the October prices) that I went to the builders web site to confirm them.

As long as the mortgage rates are on the rise, and even more potential buyers are not able to qualify, the bottom is a long way off.

altus2006

[ArizonaBear]

Housing: It'll get worse - Yahoo! Real Estate

If this article is correct; things are going to be worse for those folks up-side-down in their properties.

[twiggy]

Just look at the numbers for homeless people. When they start going down, buy. lol

[markas214]

Originally Posted by MotleyCrew

Today I got wind from someone who works in construction that a developer down in Queen Creek is raising their home prices next week and the incentives are dropping. They feel that this is the bottom. Do not take this as anything but hearsay. I just found it interesting that someone feels that the bottom in near. Who knows for sure.

Look at the spec homes on builder websites. They aren't moving. DR Horton raised their prices in Surprise. The only thing it did for me was make me cross them off my list. The only people claiming botttom now are the same ones who were calling it two years ago. How much credibility do they have? The ones who are calling for continued drops have been right since before the bubble burst.