Chandler - Shadow Ridge (Lindsay and Chandler Heights area) (Queen Creek: to rent, insurance)

[MightyHet]

We're looking at homes to buy in Chandler. We found something we like in the Lindsay and Chandler Heights area, zip code is 85249. The subdivision name is Shadow Ridge.

Is anyone familiar with this area? If so, what's your opinion on the schools, crime rate, and general area? The price is $96.50 per sq. ft. is this a good deal? I'm worried about getting burned after buying a place and the value drops considerably in the first year or two.

[sh9730]

Cant help you out with the neighborhood, but I do ask a question about your second half of paragraph?

Why does it matter? Unless you dont have to move for two years, or DO have to move in a couple years, the price on a particular day matters little. As long as you can afford it for the long term if need be (in case prices DO continue to drop), and it meets your LIVING needs and desires, I say go for it.

Some here will say its better to rent in these uncertain times...I disagree...tooooo many variables in the future (interest rates could go up, we could be at the bottom price wise now, tax incentives (right now you can deduct mortgage insurance payments and loan discount points) that could make this a great (or horrible) time to buy.

Im a believer that you buy a home primarilly as just that...a place to live that you enjoy and will have pride of ownership in. The long term investment aspect is important...but secondary to me. Plus, I like the stability of knowing that if need be, my home payments will only last as long as my mortgage, and will always be at the same payment!

I also happen to believe that even if in the short term there are price fluctuations up and down, over the long run I will still come out ahead of inflation...but if not....the other benefits were still worth it for me to buy recently.

[MightyHet]

sh9730 - Thanks for the response. That makes a lot of sense. The reason I brought up the falling values part is that we know a few people who bought two years ago and are now in a situation where their new houses in Maricopa are worth 100-$200k less than what they paid. I just don't want to get burned like that and into a situation that is hopeless.

[sh9730]

NO guarantee that CANT happen. Many thought it never could and it did.... I personally dont think we have anywhere near that much more to go again, but as I said....even if it does....I bought the house I want to LIVE in, even if its worth nothing at the end of it all...I still would have done same thing. Yes, if that happens I could have rented and invested my money elsewhere, but the anxiety and other intangible factors make that unattractive to me.

Im comfortable I can afford this house forever if need be, and am happy enough that if for financial reasons (housing market or otherwise) I CANT move in the future, Im ok with that....and if I HAVE to move anyway for some reason...I understand that in a particular moment the house may be worth less than I paid (or it should be) and I ll have to take the loss....

Bottom line is NO GUARANTEES in life.

[beckzaz]

Chandler Heights is pretty nice but that all depends on where you work. The commute can be pretty hairy if you have to go very far.

And yes, the market has taken a HUGE dive around here. You can get a house in Chandler Heights or Queen Creek for a fraction of what it would have cost 2 years ago. It is definitely a buyers market. Regardless of whether or not the prices continue to fall you would still be getting a lot of house for the money compared with other major cities across the country.