New House in Chandler 85249 - Should I buy it now?? $350k (Phoenix: foreclosures, hoa)

[loveinarizona]

Dear friends,
My husband and I have been looking for a new home recently. We would like to stay in Chandler area. We have seen the fulton homes, Brown family and Shea homes. So far we like the Shea homes, they are offering us $350k Do you think the price $350k is a reasonable price or a good deal to buy it now?

Any inputs or opinion will be very welcome! Thank you so much!!!

Sincerely,
loveinarizona

[SpeedyAZ]

$350,000 is a good deal and Chandler is a great city. I say take it (assuming it's in a good neighborhood which most of Chandler is). Shea builds some very nice homes, I've sold a few and they're top-notch.

Good luck in your new home (post pictures if you have them).

[Boatdrinks]

It depends a lot on the sq footage, location, etc. Are you talking about the new community they're building now - I think it's on Ocotillo, or thereabouts? If so, that's a great location. But it's hard to say if the price is good without more info. Remember you'll need to factor in landscaping, upgrades and pool if you're getting one. If 350k is your base, you can easily go over 400k with all that factored in. The Brown Family community on Chandler Heights is nice and right across from that huge park Chandler is building and it's also a good location. Fulton Ranch is gorgeous, but pricey. Unless you go with one of the carriage homes or condos, you won't find anything for less then 600K. The house models have, I think I was told, about 150K of upgrades in each one so remember that the base will look MUCH different from what you're seeing in the models.

Either way, it's a great time to buy here now and builders are offering great incentives. Good luck!

[aj661]

Originally Posted by SpeedyAZ

Shea builds some very nice homes, I've sold a few and they're top-notch.

I would never buy another Fulton house, worst excuse for craftsmanship I've ever seen. They couldn't even square up a tiny 4x10 1/2 bath downstairs, leaky roof that caused a ceiling collapse in the dining area, uneven foundation.

I've also owned Shea: Good, solid home. Excellent attention to detail. Very good follow up service.

Go for it! Congrats!

[loveinarizona]

Dear friends, Thank you for sharing your opinions. We are looking Shea Homes - Martinique style. Anyone visisted this one before??

[TracerHawk]

Originally Posted by loveinarizona

Dear friends,
My husband and I have been looking for a new home recently. We would like to stay in Chandler area. We have seen the fulton homes, Brown family and Shea homes. So far we like the Shea homes, they are offering us $350k Do you think the price $350k is a reasonable price or a good deal to buy it now?

Any inputs or opinion will be very welcome! Thank you so much!!!

Sincerely,
loveinarizona

No offense, but you really should be more specific. I mean, if a friend said to you he bought a car for 15,000.00 dollars, and is this a good deal, clearly you dont have enough info, like the brand, style, size, features, miles, etc.

I'm sure there are tons of houses out there for 350k that are terrible deals, and tons of houses out there for 350k that are great deals. You should look at the immediate neigborhood, the size of the house your getting and price per square foot, if there's a pool, if it includes landscaping, how many bedrooms, how many baths, is there a fireplace, are you 1/2 a mile from a pawn shop or liquor store, is your house cheap but the HOA is 3 times what it should be, what are the schools like in the area, what is the crime rate like in that area, the list goes on and on. Also, keep in mind your current income, your bills, and your rate of savings etc. 350k may be a reasonable price to some, and not others, especially depending on your income.

[AZ_singlemother]

Originally Posted by loveinarizona

Dear friends, Thank you for sharing your opinions. We are looking Shea Homes - Martinique style. Anyone visisted this one before??

Shea homes are reputable; however, because the prices in Pheonix are still not corrected, it's a risk to purchase at that price. You will need to give us more information to validify why the price is right in that area. The housing price should be corrected by 2008. I would give it time so you will not be stuck in an overpriced home.

[AZ_Engineer]

Originally Posted by AZ_singlemother

Shea homes are reputable; however, because the prices in Pheonix are still not corrected, it's a risk to purchase at that price. You will need to give us more information to validify why the price is right in that area. The housing price should be corrected by 2008. I would give it time so you will not be stuck in an overpriced home.

AZ_singlemother is right. I wouldn't even think about buying a house in the Valley right now. Housing inventory is at an all-time high and growing. Home sales were down 40% in the Valley last year from 2005, so buyers are scarce. Foreclosures are increasing at a faster rate than ever before. If you buy a house right now, it will be worth significantly less in a year or two.

Most people don't want to hear that we are at the cusp of the greatest crash in housing ever, and that much of the "wealth" people thought was tied up in their house was, in fact, fictional.

Wait a couple of years and buy that house for 40% off what it is selling for today.

[MG1]

Originally Posted by loveinarizona

Dear friends,
My husband and I have been looking for a new home recently. We would like to stay in Chandler area. We have seen the fulton homes, Brown family and Shea homes. So far we like the Shea homes, they are offering us $350k Do you think the price $350k is a reasonable price or a good deal to buy it now?

Any inputs or opinion will be very welcome! Thank you so much!!!

Sincerely,
loveinarizona

No way! $350,000 for Chandler? This is insane.

Get ready for increasing gang problems and crime. It's in the AZ papers everyday, about Chandler.

And there's an enormous housing bubble in the Phoenix area. You'll watch the value of your home decrease dramatically over the next several years. Watch and see, or instead, protect yourself and avoid buying. Rent for awhile.

[Andre5140]

Originally Posted by MG1

No way! $350,000 for Chandler? This is insane.
And there's an enormous housing bubble in the Phoenix area. You'll watch the value of your home decrease dramatically over the next several years. Watch and see, or instead, protect yourself and avoid buying. Rent for awhile.

....or do what I did: buy a brand new in RV from Indiana (where they are built) have it shipped (still cheaper than buying RV in AZ..I paid $1500 for that) and spend $200/month for a lot in a campground in Mesa or Scottsdale. Most include water, sewer hookup, cable TV, phone, and internet. All you pay for in electric. When you buy a home, you can have an RV for vacations (if you still owe on it, claim it as second home to deduct taxes). Or, sell it to some retired couple and lose a fraction (if anything) of what you'd lose in renting an over-rated apartment