Is it really that bad? (Phoenix: short sales, foreclosures, loans)

[silvad242]

We've been looking at housing prices down there. We want to relocate (after having secured a job, of course), but the prices seem too good to be true. Is the economy suffering that bad down there? I'm a software developer and don't want to get my hopes up about securing a job down there. Thanks in advance.

[observer53]

The job market here is still very slow. Get the job before you move, or before you buy one of the many homes on the market here.

[asufan]

Originally Posted by silvad242

We've been looking at housing prices down there. We want to relocate (after having secured a job, of course), but the prices seem too good to be true. Is the economy suffering that bad down there? I'm a software developer and don't want to get my hopes up about securing a job down there. Thanks in advance.

My wife is a software developer and does pretty well here. She was actually able to upgrade to a new employer recently. I know she has former colleagues that are recently layed off looking for work, but they also want the $120K salary they had before, so they are having trouble and calling her for help. It's pretty tight in any field, it seems.

If you have some good experience, try one of the consultants like Accenture.

[Grannysroost]

It is bad, but probably the question is how low will or can you go on wages to maintain a standard of living...and then how well can you market yourself?

[apexin]

For the most part, yes, the prices are too good to be true. Most prices you see are short sales which are a nightmare and rarely ever pan out. If you do find a good home at a good price, expect to get into a bidding war and that great price will skyrocket. I just put in an offer on a home and gave them 48hrs to respond. They waited until the 47th hour and then got a cash offer that was 20% over the listing price from an investor out of town that had never even seen the property. They gave me the opportunity to match the offer, but wanted a $5000 non refundable down payment to hold for 120 days! All this on a short sale.

[shiphead]

Originally Posted by Grannysroost

It is bad, but probably the question is how low will go on wages to maintain a standard of living...and then how well can you market yourself?

If I was making 50K and my wife was making 50K, I would say we are pretty well off in the Phoenix area.

As long as we stay away from loans, we will be fine. Save up some money and limit our "entertainment" expenses to once a week or every two weeks. I would even be safe to say we could save up 75% on the cost of a house.

But this is all dreaming here. I could graduate with a BS in Chemistry and end up working for minimum wage.

[cacto]

Originally Posted by apexin

For the most part, yes, the prices are too good to be true. Most prices you see are short sales which are a nightmare and rarely ever pan out. If you do find a good home at a good price, expect to get into a bidding war and that great price will skyrocket. I just put in an offer on a home and gave them 48hrs to respond. They waited until the 47th hour and then got a cash offer that was 20% over the listing price from an investor out of town that had never even seen the property. They gave me the opportunity to match the offer, but wanted a $5000 non refundable down payment to hold for 120 days! All this on a short sale.

Too good to be true for regular people. Cheap places are snatched up by investment companies/speculators. Foreclosures/shortsales are definitely waiting games that turn into bidding wars. I spent all last summer trying to buy a house and gave up after months of searching for something real cheap that wasn't way outside of the city.

[silvad242]

I currently make 65k/yr. and have about 3 years experience, as well as a Bachelor's degree. I'd be willing to take the pay cut, just to get down there.

[Magnum Mike]

Originally Posted by silvad242

We've been looking at housing prices down there. We want to relocate (after having secured a job, of course), but the prices seem too good to be true. Is the economy suffering that bad down there? I'm a software developer and don't want to get my hopes up about securing a job down there. Thanks in advance.

It's not as bad as some other cities, but it's slow and it might take you a little longer to find a suitable job in the software development area.

I'll send you a Direct Message.

[Uhuh]

If you bust your @ss to find a job, you will find one.There are a lot of employers out here.