Any urban areas to live in metro phoenix (Mesa, Tempe: apartment, rentals)

[nickw252]

What is the best area for young, well educated professionals to live in, in particular an area that is urban, served by public transportation, and has walkable neighborhoods.

From what I've seen, Tempe and Mesa look nice. Any other suggestions?

[w1ngzer0]

I'd love living in these growing urban areas, but prices are way too high. Unless rich from the start or invent something to make major money, I could never afford these places going up.

[nickw252]

What places are you talking about that are very expensive? Mesa and Tempe? Also what do you mean by too expensive? I was looking on forrent.com and many of the places I glanced at seemed to be in the $1,000 - $1,500 per month for a 2 bedroom.

I'd like to live in an affluent walkable neighborhood with a younger crowd and on the light rail line for easy transportation to and from the downtown area.

[w1ngzer0]

Originally Posted by nickw252

What places are you talking about that are very expensive? Mesa and Tempe? Also what do you mean by too expensive? I was looking on forrent.com and many of the places I glanced at seemed to be in the $1,000 - $1,500 per month for a 2 bedroom.

Urban360.com and weknowubran.com show some of these condos are going for a range of 300,000 to 1 million for 1000 sq ft loft. Tempe and downtown Phoenix area. I've looked for a condo that isn't 300,000,in a descent area, and isn't an apartment conversion. I can't stand matchbox buildings.

I'd love to hear where you've been looking because i don't know where to look if your finding prices like that.

[nickw252]

Thanks for the web sites, I'm checking out weknowurban.com right now - they even have a section for rentals on the light rail line.

[w1ngzer0]

why would you rent for 1,000 to 1,500 per month? Couldn't you buy a place at those prices? Would these kind of prices be for temp. phoenix residents?

I'm very sorry about my english, i noticed my writing continues to get worse.

[smarty]

Originally Posted by w1ngzer0

why would you rent for 1,000 to 1,500 per month? Couldn't you buy a place at those prices? Would these kind of prices be for temp. phoenix residents?

If rent is only $1000-1500/mo, why would someone pay $400K-$1000K for a condo?

I figure $600 per $100K borrowed. For $400K, it is $2400 plus property tax and condo fee. You are saving $1K/mo or $12K/yr by renting.

Please help me with my math!?

[nickw252]

I don't want to own - too big of a liability for me at this point. Plus, why would I want to essentially be locked down in one place?

The idea that you can never lose money on owning a home, and that renting is throwing your money away is partially why we are in this economic crisis right now. Everyone thought they had to own and then it turned out that not everyone could afford it.

Here's an article written about a year and a half ago explaining why renting is smarter for many people, ohh how prescient the author was.

[w1ngzer0]

Originally Posted by nickw252

I don't want to own - too big of a liability for me at this point. Plus, why would I want to essentially be locked down in one place?

That's the key point i was trying to get. It is a solution for people that move a lot. I wasn't sure if you were wanting to stay here, in Phoenix, for a longtime. If you are wanting to live in Phoenix for 20 to 30 years, and living a place renting, wouldn't make sense to me. I figured with that length of time you'd want to buy?

I suppose i should have made these kind of comments in my first post.

I'm not trying to argue with you or make a big deal about it, im only curious and am only asking questions as such.

[slowbill]

I thought prices of homes in Arizona have dropped tremendously? Who is paying $400,000 to live in Arizona anymore? Heck who makes $130,000 a year to buy a $400,000 house anywhere.