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Old 10-06-2008, 08:34 PM
 
6 posts, read 12,298 times
Reputation: 14

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Ok,

This time last year I was living in Alaska reading about Maricopa. Now I own a house with a pool and I love it. These are my personal opinions about Maricopa, I encourage you to speak to a professional as I could be wrong, Maricopa is a great place to live, I live in Rancho El Dorado. My commute is 40 min into Phoenix.

The biggest misconseption are the housing demand here. When you read city data or look on realtor.com there are hundreds of houses. However most are shortsales and unless you have a long time to hear back these are not a option. So that leaves you with the REOs which there are multiple bidders on. Buying here is not as easy as you might think. You might look at alot of mistreated houses, you might make offers and get beat out, you might not find a house that is 3000 sq feet in great condition for 100k

Firstly I was worried about the commute, everyone made is sound awful. I leave the house at 6 am and have not hit heavy traffic yet. I have a cup of coffee and listen to fox news on satalite radio. I commuted half an hour in alaska and 30 min from scottsdale when I rented.

Secondly I was worried about the crime, empty housed, gangs of youths roaming the streets ect. Well my neighborhood is very quite and the neighbors are great and freindly. When we moved in there was a "gang" of kids on scooters that actually wellcomed me to Maricopa!!!

Thirdly, it is HOT HOT I dont mind but my wife hates it,

I do not regret moving to Maricopa I would do it again. I encourage people to come visit and check it our for themselfs
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Old 10-06-2008, 10:15 PM
 
Location: Scottsdale
89 posts, read 242,314 times
Reputation: 42
Quote:
Originally Posted by azjack View Post
The house model asking price has dropped almost 30% in two years. My interpretation: this is a rapidly declining asset that will lower my net worth by purchasing it. Peak oil and recession can only further lower prices in Maricopa (and elsewhere).

I really would not fret about "multiple bidders." They are often fictional. Who would get in a bidding war with tons of foreclosures around?
Good analysis...we're not at the bottom in Maricopa...prices will keep dropping...probably another 30%+...
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Old 10-06-2008, 10:18 PM
 
Location: Scottsdale
89 posts, read 242,314 times
Reputation: 42
Quote:
Originally Posted by 61scout80 View Post
care to enlighten me on why a listing agent would tell a potential customer calling about a house that they will not show the house that is listed for sale because it has multiple offers? That doesn't sound like a very effective selling tactict to me.
They wouldn't...there may be a couple homes that are priced OK for the right person, but most are still way too high...
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Old 10-06-2008, 10:25 PM
 
Location: Scottsdale
89 posts, read 242,314 times
Reputation: 42
Quote:
Originally Posted by gregandvicky View Post
Probably the right question would be, not if prices have hit botoom or not, but whenever that happens, "How long will prices stay near the bottom, and How long will it take for a Real Estate recovery? Some say the end of 2009, some say 2011, some say ten years.
End of 09 is more of a national average...many say 2012 for AZ...
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Old 10-07-2008, 09:36 AM
 
Location: Tampa Bay
1,587 posts, read 3,722,817 times
Reputation: 1318
Quote:
Originally Posted by Fairbanksiscold View Post
Ok,

This time last year I was living in Alaska reading about Maricopa. Now I own a house with a pool and I love it. These are my personal opinions about Maricopa, I encourage you to speak to a professional as I could be wrong, Maricopa is a great place to live, I live in Rancho El Dorado. My commute is 40 min into Phoenix.

The biggest misconception are the housing demand here. When you read city data or look on realtor.com there are hundreds of houses. However most are short sales and unless you have a long time to hear back these are not a option. So that leaves you with the REOs which there are multiple bidders on. Buying here is not as easy as you might think. You might look at a lot of mistreated houses, you might make offers and get beat out, you might not find a house that is 3000 sq feet in great condition for 100k

Firstly I was worried about the commute, everyone made is sound awful. I leave the house at 6 am and have not hit heavy traffic yet. I have a cup of coffee and listen to fox news on satellite radio. I commuted half an hour in Alaska and 30 min from scottsdale when I rented.

Secondly I was worried about the crime, empty housed, gangs of youths roaming the streets ect. Well my neighborhood is very quite and the neighbors are great and friendly. When we moved in there was a "gang" of kids on scooters that actually welcomed me to Maricopa!!!

Thirdly, it is HOT HOT I don't mind but my wife hates it,

I do not regret moving to Maricopa I would do it again. I encourage people to come visit and check it our for themselves

Welcome to the area. Glad you like it so far. If you have any questions shoot me a PM. I'm just down the street in the lakes

Its just getting to be nice out, but i can understand you thinking its hot coming from alaska! are you full time living here?
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Old 10-07-2008, 09:45 AM
 
Location: Tampa Bay
1,587 posts, read 3,722,817 times
Reputation: 1318
Quote:
Originally Posted by mwwwin View Post
They wouldn't...there may be a couple homes that are priced OK for the right person, but most are still way too high...


they would, they did. a friend of mine has heard this from many Realtors. your numbers are skewed.

Existing home sales are up. Recent trends show 214 existing homes a month sold in maricopa. realtor.com is showing 783 existing homes for sale right now. that means there is a 3.7 month supply of homes in maricopa. There were 149 building permits pulled in July (latest numbers aren't updated yet). 101 of those were for single family residences. Maricopa is in demand, and prices are at the bottom in my opinion.
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Old 10-08-2008, 08:41 PM
 
6 posts, read 12,298 times
Reputation: 14
I live here full time. When we were looking at homes we looked at over 50 most looked great on realtor but when you get in them the were trashed. One smelt so bad of urine that it burned your eyes. I feel bad that people lost there homes, but I am glad I bought here. Unfortunately I dont know if we are at bottom, with the way the stock market is moving we will probably be eating dirt and farming out own food in a couple years

Thank you for the welcome 61scout80, we actually looked at the lakes but it was not in our budget. But the homes by the lakes with the pools are awesome. I will record my commute and post on youtube for those out of state that are interested.

If anyone has questions feel free to pm me.
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Old 10-09-2008, 01:28 AM
 
Location: Scottsdale
89 posts, read 242,314 times
Reputation: 42
Quote:
Originally Posted by 61scout80 View Post
they would, they did. a friend of mine has heard this from many Realtors. your numbers are skewed.

Existing home sales are up. Recent trends show 214 existing homes a month sold in maricopa. realtor.com is showing 783 existing homes for sale right now. that means there is a 3.7 month supply of homes in maricopa. There were 149 building permits pulled in July (latest numbers aren't updated yet). 101 of those were for single family residences. Maricopa is in demand, and prices are at the bottom in my opinion.
I wasn't clear...what I meant was an Agent wouldn't probably say there were multiple offer and not show a home if it weren't true. I certainly believe that there are multiple offers on some of the seemingly attractive priced homes in Maricopa. However, this certainly doesn't indicate that it's the bottom in Maricopa. All it means is that there are those that are drinking the Koolaid that "it's a great time to buy". Or the home buyer wants to get into a home and isn't too concerned about if it dips further because they plan to be there for a long time or can afford to take a loss if they need to sell.

It's hard to believe that one of the hardest hit areas as far as depreciation in AZ is concerned would now be at bottom when every where else is still steadily dropping. I still believe these homes will drop another 20%... This is my opinion too...we'll see in a few years I guess...
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Old 10-10-2008, 07:17 AM
 
150 posts, read 389,078 times
Reputation: 58
Quote:
Originally Posted by Fairbanksiscold View Post
I live here full time. When we were looking at homes we looked at over 50 most looked great on realtor but when you get in them the were trashed. One smelt so bad of urine that it burned your eyes. I feel bad that people lost there homes, but I am glad I bought here. Unfortunately I dont know if we are at bottom, with the way the stock market is moving we will probably be eating dirt and farming out own food in a couple years

Thank you for the welcome 61scout80, we actually looked at the lakes but it was not in our budget. But the homes by the lakes with the pools are awesome. I will record my commute and post on youtube for those out of state that are interested.

If anyone has questions feel free to pm me.
When you entered the home that smelled like urine didn't that somewhat scare you away from that neighborhood?
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Old 10-10-2008, 07:38 AM
 
Location: Tampa Bay
1,587 posts, read 3,722,817 times
Reputation: 1318
Quote:
Originally Posted by teepolo View Post
When you entered the home that smelled like urine didn't that somewhat scare you away from that neighborhood?

do you think people that are scummy, or purposly destroying the home they are losing is only local to Maricopa?

There was an article on CNN a few months back that was reporting nation wide about foreclosures that the former occupants would urinate and deficate in before getting evicted. I'll see if i can find it.
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