Home purchase in Arizona (Phoenix, Casa Grande: apartment, foreclosures, renters)

[mickeyb11]

We just purchased a home in Queen Creek ( Johnson Ranch) and couldn't be happier. We also purchased for retirement, but couldn't pass up the prices that are available now. We have someone taking care of the lawn and pool and if you get to know the neighbors, they will watch out for your house. We will only be able to be in the house 3-4 month a year, but the investment is better than seeing your money disappear overnight in a retirement fund. We had second thoughts, but decided that we have let too many opportunities pass us by, only to say if only we had taken the chance , we would be this much further ahead. We have rented in the area for 2 years thru VRBO and have never been dissapointed in the area. Nothing but friendly people. Going for walks in the morning and you see people that you know are moving out of their home and they still call out goodmorning and are very friendly. The houses in Maricopa seem to be less expensive, but haven't been in the area enough to comment on the area. I say, if you can afford it , go for it.

[ellieril]

Thanks for all the input to my question. We will be coming to Arizona in a few weeks time and we will be spending some time driving around the different little communities in the Pheonix area. My husband and I will not be rushing into anything just to save a buck, we will do our homework here and also in Arizona before and when we get there. I'm not too interested in purchasing a house and renting it over the internet. We may consider a rental or real estate company. Altus2006, could you explain in further detail really what your last comment was, as I'm not sure I quite understand it. We are in the market to purchase a home for ourselves. We are not interested in renting but possibly renting our home out should we actually purchase one. Lots of things to consider we know therefore will not rush into it. Thanks :>)

[ellieril]

Originally Posted by mickeyb11

We just purchased a home in Queen Creek ( Johnson Ranch) and couldn't be happier. We also purchased for retirement, but couldn't pass up the prices that are available now. We have someone taking care of the lawn and pool and if you get to know the neighbors, they will watch out for your house. We will only be able to be in the house 3-4 month a year, but the investment is better than seeing your money disappear overnight in a retirement fund. We had second thoughts, but decided that we have let too many opportunities pass us by, only to say if only we had taken the chance , we would be this much further ahead. We have rented in the area for 2 years thru VRBO and have never been dissapointed in the area. Nothing but friendly people. Going for walks in the morning and you see people that you know are moving out of their home and they still call out goodmorning and are very friendly. The houses in Maricopa seem to be less expensive, but haven't been in the area enough to comment on the area. I say, if you can afford it , go for it.

Thank you for such a great reply. Everyone has an opinion and some you like some you don't. Yours was great cause my question really was about the areas. Queen Creek is on our list and we too will be spending 2-4 months a year there. We have considered all sorts in the ways of keeping it clean and safe while we are not there. I'm glad it is working good for you as it sounds so similiar to what my husband and I have dicussed about what we would do if this does happen for us. Thanks again, your reply put a smile on my face. :>)

[ellieril]

Originally Posted by altus2006

Doing a vacation rental in the areas she is looking at will make some people who rented it over the internet very upset when they reach the house and see where it is located.

altus2006

I truly do not understand your comment.... I am not at all interested in using the home as a vacation rental..... Do you live in any of the communities I'm asking about? Having more then one person stay in my house over and over again really does not sit well with me. Renting the home out is a thought at the moment only. A vacation rental is not in our thoughts. We will figure out our options when we arrive there.

[ellieril]

Originally Posted by altus2006

I would not purchase a home that will be left unoccupied for years. It is a property waiting for burglary or teen parties.

Also, these areas are not desirable rental areas should you decide to rent the property until you move here.

altus2006

We are a little smarter then that and we would personally not leave a home empty for that many years.... Why are the areas not desirable rental areas? Is this your opinion or do you know this forsure? Information is what I am looking for.

[ellieril]

Originally Posted by plusmiles

I went to visit my daughter two weeks ago in the area of the 4000 E. Shapinsay Dr. Queen Creek, AZ 85240
The homes are in great shape, built within the past 4 years, and a bunch are either for sale or in foreclosure. I'm told they are selling as low as $75,000, for a 2800 sq ft two story. They were selling new for probably $150,000. You might want to plan to visit this area. Queen Creek is way undervalued right now, they are working hard to keep an open, urban community, they have a large hospital under construction, a new high school just opened, and many new shopping centers all over that area. I think it would be worth a look.

Thank you. We are going to be visiting Queen Creek in a few weeks. Thanks for the positive input. :>)

[msfoom]

You're right about these areas being newer and cheap right now. Living in these areas are great depending on the lifestyle you want. If you like going to the movies, having dinner out in your local Olive Garden, cook outs with neighbors .... these are fine places. However if you like museums, comedy clubs, concerts or things like that, you will have to drive.

My biggest concern for you is what another poster mentioned. Leaving your property vacant is not a good idea unless you know your neighbors and they will truly look out for you. Unfortunately with the economic climate, people get desperate and you don't want your dream retirement home to become a nightmare flop house for illegals or meth addicts. (I am exagerating - but still)

Best of luck!

[altus2006]

Originally Posted by ellieril

We are a little smarter then that and we would personally not leave a home empty for that many years.... Why are the areas not desirable rental areas? Is this your opinion or do you know this forsure? Information is what I am looking for.

You really need to see these areas in person and not try to make up your mind on the internet. The only reason I can find for moving to any of them is because the houses are cheap. If finding a really cheap house is your main target, then they may be right up your alley.

All of the areas you have described are out in the fringes of the metro area and far from most work places for people. Thus long commutes are the norm. The reason these houses are cheaper is because most people will want to live closer to their work and not so far out.

If I rented a house in Maricopa or Queen Creek and came here to have a vacation, I would be unhappy at the location of the rental because there is not much to do in Maricopa, Queen Creek or Florence. andrzejn is the one who suggested using the house as a vacation rental, which I think would not be a good use for it.

If you look up Queen Creek, there are a lot of discussions about the area. One big problem with QC are fissures which can gobble up the house if it happens to be built on one.

When you see all of the areas in the next two weeks you will get a better picture as to what you want to do as far as buying in a particular area. The last I knew, both places had a lot of vacant and foreclosed homes, but I have not been out there for almost a year and have no plans to return, so things may have picked up a little.

altus2006

[Ponderosa]

When houses are as cheap as they are they attract a lot of people who you would not want to have as a neighbor. Those houses also attract investors who are going to rent them to whomever walks in the door. The combination of low income owners, young families, and renters is a recipe for rapid neighborhood decline. Initially, the neighborhoods are filled with young families, and it seems like shops and restaurants are going in almost every day. But as wages rise, the starter people flee leaving the neighborhood to the permanently down and out, the stores and restaurants close and stay empty or are replaced with check cashing services and bail bonds brokers. This kind of thing has happened all over the Phoenix area - today's so-called affordable homes become tomorrow's rundown, gang and drug infested neighborhoods, with illegals living 2 or 3 families to a house. No one can say with certainty that this will or will not happen in QC, but history - even social history - has a habit of repeating itself. My wife bought a HUD home in the Deer Valley area in the last big downturn for a song. She went to check it out a couple of weeks ago and was shocked at how the neighborhood had declined into a near ghetto in the 12 years since she left. If you want to be sure that your home will be place you want to live in 10 years, then you should be looking at established neighborhoods in "good" areas. You are not going to get a house for 70K in them, but if you hurry and you are lucky you might get one for 140K.

You (OP) praised a post above. I think it was because it told you what you wanted to hear. But it is the posts that raise the red flags that you will be more grateful for down the road.

[Ponderosa]

Originally Posted by Ponderosa

When houses are as cheap as they are they attract a lot of people who you would not want to have as a neighbor. Those houses also attract investors who are going to rent them to whomever walks in the door. The combination of low income owners, young families, and renters is a recipe for rapid neighborhood decline. Initially, the neighborhoods are filled with young families, and it seems like shops and restaurants are going in almost every day. But as wages rise, the starter people flee leaving the neighborhood to the permanently down and out, the stores and restaurants close and stay empty or are replaced with check cashing services and bail bonds brokers. This kind of thing has happened all over the Phoenix area - today's so-called affordable homes become tomorrow's rundown, gang and drug infested neighborhoods, with illegals living 2 or 3 families to a house. No one can say with certainty that this will or will not happen in QC, but history - even social history - has a habit of repeating itself. My wife bought a HUD home in the Deer Valley area in the last big downturn for a song. She went to check it out a couple of weeks ago and was shocked at how the neighborhood had declined into a near ghetto in the 12 years since she left. If you want to be sure that your home will be place you want to live in 10 years, then you should be looking at established neighborhoods in "good" areas. You are not going to get a house for 70K in them, but if you hurry and you are lucky you might get one for 140K.

You (OP) praised a post above. I think it was because it told you what you wanted to hear. But it is the posts that raise the red flags that you will be more grateful for down the road.

I wanted to clarify. I know that all of QC and the far southeast valley is not low end housing. I think Anthem has great upside potential, and there are other nice communities out that way too. But if one is looking at one of those 4000 sf for 70K neighborhoods, I do believe that, in time, you are going to get exactly what you paid for.