Is surprise farms a good area? (Gilbert, Peoria: foreclosure, renting, mortgage)

[ibarrio]

After looking at a bunch of resales and new homes, we opted to stay out of Surprise right now, simply because there are so many investor-owned or otherwise empty properties up for sale...many homes and yards not being kept up.

Look in an established neighborhood what has an HOA. We live in Kingswood Parke. It is a very well kept area...and the HOA Nazis have not been that bad.

[azloafer]

Originally Posted by NYtoAZ2007

After looking at a bunch of resales and new homes, we opted to stay out of Surprise right now, simply because there are so many investor-owned or otherwise empty properties up for sale...many homes and yards not being kept up.

But there are great deals to be had, it you're willing to live in a neighborhood half-empty. I know that situation is not unique to Suprise right now, but it is the reason we steered away.

Closing on your house soon...asking these questions now seems kind of "cart-after-the-horse" don't 'ya think?

I'm curious...when did you see all the bad situations in Surprise? We went there about two months ago to visit. We drove all through the area and saw nothing like you describe. Maybe we missed some part that is not kept up, but I think that we covered a good share of it. What section was bad? We live in a very neat HOA controlled area, but Surprise was even nicer than our hometown.

[chocolaterie]

Originally Posted by NYtoAZ2007

After looking at a bunch of resales and new homes, we opted to stay out of Surprise right now, simply because there are so many investor-owned or otherwise empty properties up for sale...many homes and yards not being kept up.

But there are great deals to be had, it you're willing to live in a neighborhood half-empty. I know that situation is not unique to Suprise right now, but it is the reason we steered away.

Closing on your house soon...asking these questions now seems kind of "cart-after-the-horse" don't 'ya think?

Hmm. You would think that if people wanted to rent they would rent somewhere closer to the major arteries. So, I can see if it's a resale/rental and not a just bought by a "live in homeowner" that the lawns would not be kept up(it would be tough to find a renter, and resales are not very attractive b/c of their prices). However, I find this difficult to believe if it's a brand new neighborhood where the residents have just begun to take advantage of the lower prices. In my neighborhood, everyone I have met has been happy about their purchase. So far, I have met no renters. And the only vacant houses are the spec homes (I think there are 5 spec homes total) and they are being maintained by the builder... However, since I'm used to this type of scenery, I would be intrigued to find out where these houses of blight are.

[jco]

Originally Posted by azloafer

I'm curious...when did you see all the bad situations in Surprise? We went there about two months ago to visit. We drove all through the area and saw nothing like you describe. Maybe we missed some part that is not kept up, but I think that we covered a good share of it. What section was bad? We live in a very neat HOA controlled area, but Surprise was even nicer than our hometown.

I don't know that he was in Surprise. I live here and have been to almost every neighborhood. I can't think of one (even in the "older" areas) that fits this description... unless he's talking about areas where farmowners still have their land???

[NYtoAZ2007]

Originally Posted by NYtoAZ2007

After looking at a bunch of resales and new homes, we opted to stay out of Surprise right now, simply because there are so many investor-owned or otherwise empty properties up for sale...many homes and yards not being kept up.

But there are great deals to be had, it you're willing to live in a neighborhood half-empty. I know that situation is not unique to Suprise right now, but it is the reason we steered away.

This was in the last month. The empty houses were everywhere: Suprise Farms, Legacy Parc, Greer Ranch. These all have HOAs. NOT ALL empty property was unkempt, just some, mostly in the Legacy Parc area. Surprise Farms specifically appeared to be kept up, but so many up for sale and so many of those up for sale are empty.

Again, this housing situation is not unique to Surprise. Believe me, I would like to want to move to Surprise...the housing prices are much lower than other areas. Its' the same reason we're not purchasing where we're renting...the number of for sale signs increases every day. We're choosing to go to some older, "more established" areas and one thing we look around the neighborhood for is for sale/for rent signs...and these older areas are not protected from this market either: I could wallpaper my bedroom with all of the for sale flyers we picked up driving around Arrowhead Ranch one day.

We stopped in at an open house in Surprise back in July and were told by the realtor there that something like 59% of the properties built and sold during the boom were to investors.

Everyone has their own preferences. But I saw some areas that didn't seem to be kept up according to what you'd expect for a community with an HOA, and I saw some areas that were very nicely kept up but had too many homes for sale for our liking.

And in response to another poster, yes, you would think if these people are trying to sell or rent out their property they would keep them up, wouldn't you? You wouldn't believe some of the stuff we've seen...and that doesn't include foreclosures! But that's another topic.

Based on the info provided by the OP, my concerns do not sound like they would necessarily bother him, and I by no way meant to insult Suprise or anyone in it. There's nothing about Surprise (schools, crime, ethnic mix, etc.) that turns us away...it was simply a "feeling" about the area due to the current housing market.

[NYtoAZ2007]

And I should add, reading all of your replies gives me a better feeling about Surprise and we may just end up back in Surprise on our seemingly endless house-hunt (like there aren't enough to choose from!).

[azjack]

I live in Surprise and like Surprise. It is pretty safe, and I have been going to the stadium since its ribbon cutting five years ago. But there are many vacant houses in Surprise. As was stated earlier, not all of them are trashed, they are just vacant houses that are a byproduct of the housing bust in Arizona.

Huge swaths of the Sierra Montana subdivision have more vacant houses than occupied houses. Some are bank-owned, and many are heading to that status. I have seen them in Legacy Parc, Rancho Gabriela, Surprise Farms, and even slightly older subdivisions like Kingswood Parke and West Point.

Vacants can really can be a problem over the long term. With the foreclosures piling up and price declines putting more people underwater, I suspect that there will be far more in 2008. Of course, there are plenty of vacants and foreclosures elsewhere in Maricopa and Pinal Counties.

[danny dimas]

HI Jason-
I get this question alot being the Surprise Farms Real Estate Specialist, If you have bought in September you have nothing to worry about. Unless you choose to sell in a couple years. But that is normal, 10 years ago if you bought and sold within 18-24 months you would have also lost money.
Contrary to what the media thinks, our market is going to be just fine. We do have a surplus inventory but Arizona and specifically Surprise have too much positive growth for us to remain in a deep buyer's market.

I have lived in Surprise Farms for 4 years now and in my second home here and love it. My son starts school next year and there is much more to come. I chose Surprise Farms years ago in the infant stage of development for it's potential for a positive family atmosphere and it has and will continue to flourish.

Some attributes that Surprise Farms has over other communities:
Far west and close to White Tanks
New City Park coming (when? I don't know, call Mark Coronado at the park and rec)
3 great schools with solid reputations
Close to 303
Close to Golf Courses (6) within a golf cart drive
Plenty of park and common area
across green way from City Rec center with computer/art/recording studio

Welcome to Surprise Farms jason

Danny Dimas ~ the Surprisefarmer

[danny dimas]

HI world-
yes, there are many vacant homes, bank-owned homes, and pre-foreclosures in Surprise. Some communities are better kept than others.
This inventory will eventually clean up. rates will remain good and positive infrastruture in the city will continue to draw employers (home buyers) to the city. It is going to take time, be patient and if you are a buyer on the fence you should be taking advantage of the great prices and outstanding interest rates. You will be rewarded....

For the posts that have a slightly negative tone.... Some people still think that buying a home is a get rich quick strategy and people.... those days are over. If you would like stats on a net worth of a "renter" vs. a homeowner at the end of a 5 year period, email me and I will show you some mind blowing statistics. Also, there are some people that are "bubblesitting" or trying to hit that perfect time to buy. When will the bottom hit? who knows exactly but I do know that between now and the next 18 months it is a great time to buy and you will not lose in the long run.

Have a great week

Danny Dimas - the Surprisefarmer

[Captain Bill]

Originally Posted by JasonS

I am starting to worry next year my house will be worth a lot less then i paid. But i do plan to stay in the house for a long time so i guess they will go back up eventually.

If you're planning on staying in your home for a long time, then I would stop worrying and forget about the day to day housing market prices.

Bill