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Old 04-20-2012, 03:07 PM
 
1,232 posts, read 3,135,881 times
Reputation: 673

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Quote:
Originally Posted by bguar View Post
Well, I am making an assumption that now since banks have realized they can start foreclosing again with the previous foreclosure legal stuff behind them, that they will start doing so. If this is true, yes, there are many, many more coming. I read that Phoenix has one of the fastest foreclosure processes in the country (the process is slow... now, getting around to starting the process, who knows). But you know how stuff like that goes... who knows if it's true or not. But Zillow does seem to think price appreciations are happening.
How much of this thread have you read? I think that's talked about. IIRC, AZ isn't one of those states with legal issues around the process. And that there is all indication based on the numeric facts that foreclosures here are slowing way down. I'm not even sure that was including any effect of the new HARP refi options.
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Old 04-20-2012, 03:10 PM
 
46 posts, read 65,446 times
Reputation: 25
Quote:
Originally Posted by ReadyFreddy View Post
How much of this thread have you read? I think that's talked about. IIRC, AZ isn't one of those states with legal issues around the process. And that there is all indication based on the numeric facts that foreclosures here are slowing way down. I'm not even sure that was including any effect of the new HARP refi options.
Not much. There's a lot of pages so I didn't go all the way through. I hit search but it returned a lot of irrelevant information that I didn't want to sort through.

From what I've read that sounds right.
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Old 04-20-2012, 04:34 PM
 
2,879 posts, read 7,786,060 times
Reputation: 1184
According to Zillow; I am up 285% since October 2010. 85014. Condo bought in 11-2009 is only up 89%, it is grossing over 30% with ease.
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Old 04-20-2012, 04:58 PM
 
Location: Mesa, AZ
363 posts, read 930,707 times
Reputation: 237
I've been keeping my eye on a Goodyear listing which had no bite, actually price lowered 4 times... Large home, 4000+ SQFT, pool, 3 car garage... etc etc. Listed early April for $299,888 now at 289,888. Not all homes are selling like pancakes, some still struggle. Just my .2 cents

ps: this same home would have been listed for $260-270,000 in late 2011...

Last edited by matyoka; 04-20-2012 at 05:17 PM..
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Old 04-20-2012, 05:13 PM
 
Location: Rural Michigan
6,341 posts, read 14,706,603 times
Reputation: 10550
Quote:
Originally Posted by matyoka View Post
I've been keeping my eye on a Goodyear listing which had no bite, actually price lowered 4 times... Large home, 4000+ SQFT, pool, 3 car garage... etc etc. Listed early April for $299,888 now at 289,888. Not all homes are selling like pancakes, some still struggle. Just my .2 cents
How many jobs are there within a 15-20 minute commute to that home that pay enough to support a $250k mortgage? When/if the answer is "lots!" is when you'll see monstrosities like that selling in earnest again. Location, location, location.
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Old 04-20-2012, 05:18 PM
 
46 posts, read 65,446 times
Reputation: 25
Quote:
Originally Posted by khuntrevor View Post
According to Zillow; I am up 285% since October 2010. 85014. Condo bought in 11-2009 is only up 89%, it is grossing over 30% with ease.
lol sounds like Zillow has some wrong information. That's kind of amusing it thinks that.

Quote:
I've been keeping my eye on a Goodyear listing which had no bite, actually price lowered 4 times... Large home, 4000+ SQFT, pool, 3 car garage... etc etc. Listed early April for $299,888 now at 289,888. Not all homes are selling like pancakes, some still struggle. Just my .2 cents

ps: this same home would have been listed for $260-270,000 in late 2011...
Yeah... Goodyear I'm sure it'll turn around in time.
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Old 04-20-2012, 05:22 PM
 
1,232 posts, read 3,135,881 times
Reputation: 673
3 weeks isn't long for a house of that value, and it may still be overpriced, despite its size.

It also could be the listing isn't updated. Is it a short sale? They seem to sit ACTIVE for ages, when they've had offers all along, because (I'm guessing) they're not 'under contract' until the bank actually picks an offer and agrees to it.
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Old 04-20-2012, 05:45 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,574,187 times
Reputation: 1784
Wrong! I am not only a renter, but a pure capitalist. Austrian economics. Rening is part of capitalism. A value for value thing. If buying a house was more profitable for me than renting a two bedroom apartment, I would buy. But it is far more costly instead.

Quote:
Originally Posted by khuntrevor View Post
just a few short years ago, the renters were claiming total victory over evil capitalism. People have very short memories.
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Old 04-20-2012, 05:56 PM
 
Location: Mesa, AZ
363 posts, read 930,707 times
Reputation: 237
I am not going to get deep into this as I don't want any controversy, however if you can't afford a $250k mortgage than something is wrong. I migrated to the US 22 years ago, put myself through college while working my rear off... sometimes 3 jobs. If I can afford it why can't others?
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Old 04-20-2012, 06:02 PM
 
Location: Mesa, AZ
363 posts, read 930,707 times
Reputation: 237
Quote:
Originally Posted by ReadyFreddy View Post
3 weeks isn't long for a house of that value, and it may still be overpriced, despite its size.

It also could be the listing isn't updated. Is it a short sale? They seem to sit ACTIVE for ages, when they've had offers all along, because (I'm guessing) they're not 'under contract' until the bank actually picks an offer and agrees to it.
It's a regular sale, and yes the price was inflated a "bit"...
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