Phoenix Real Estate Market Keeps Tanking (Tucson, Apache Junction: rating, golf course, metro)

[Steve Pickering]

My sisters $240,000 home sold for $110,000 last month. My Ex bought three new, never lived in, $200,000 homes in Eloy and Florence for $60,000 each. I bought 1/2 acre lots by the golf course that were selling for $60,000 each on the proposed Airport Runway for $1,200. Don't pull an agent hyped comment on me and try to tell me the Market has not tanked and continues to do so.

I would say the press is correct.

[observer53]

Where's your sister's home, and when did it sell for 240,000?

Florence and Eloy aren't Phoenix area. A lot of building went on down there during the boom (I'm assuming that's when those homes were built-- 200,000 in ELOY???) Those houses are not going to have the attractiveness to buyers that an equivalent home in the Valley will.

What golf course? What proposed airport?

[ReadyFreddy]

My sisters $240,000 home sold for $110,000 last month.

Well, technically, your sister's $110,000 home sold for $110,000 last month. What it was worth at the peak of the market isn't very relevant.

[Steve Pickering]

Apache Junction. Less then thirty days ago. She is now renting a four bedroom with pool for $1,500 a month with my Mother in Apache Junction. the house she sold is just off Cottonwood and Main a few blocks. Mostly new homes. Her's included (10 years old).

Florence and Eloy are Phoenix. Why would you think otherwise. Just like south of Marana is the Tucson Market. It's about work area and shopping market.

And Morning Star

There is no technically about it. Less than half the selling price 10 years ago is a market tank and not a sign of recovery.

[Captain Bill]

Originally Posted by Steve Pickering

...
There is no technically about it. Less than half the selling price 10 years ago is a market tank and not a sign of recovery.

What is your opinion of a sign of recovery?

[Captain Bill]

The reason this thread has been active for so long is that the topic covers every aspect of the Phoenix market.

Plus there is a ton of data and graphs throughout the thread that is updated regularly so those who are interested can see and discuss what's actually happening in the market and follow the trends if they wish.

Other threads that are limited in scope would need several threads, which would not have one central place where a discussion on the wide scope of the Phoenix market can take place.

This thread has had 754 posts, and 24,500 views, so the thread is obviously being read by a lot of people. Therefore, I see no valid reason to close an active thread like this.

[observer53]

Originally Posted by Steve Pickering

Apache Junction. Less then thirty days ago. She is now renting a four bedroom with pool for $1,500 a month with my Mother in Apache Junction. the house she sold is just off Cottonwood and Main a few blocks. Mostly new homes. Her's included (10 years old).

Florence and Eloy are Phoenix. Why would you think otherwise. Just like south of Marana is the Tucson Market. It's about work area and shopping market.

And Morning Star

There is no technically about it. Less than half the selling price 10 years ago is a market tank and not a sign of recovery.

I think otherwise because they are in a different county, are not typical commuter cities for Phoenix (not to say it doesn't happen, but I'll bet there are people in Eloy driving to the Tucson area too; and, it's off topic for this thread, but I think the Tucson market goes north of Marana) and are apples and oranges in comparing the housing market and demand between those places and Phoenix and its contiguous suburbs. Someone doesn't say, "well, I could live in Phoenix, or I could live in Eloy (or Florence)-- what's the difference?" Someone who is looking in the metro area is not going to see Eloy or Florence as one of their options.

[actinic]

Originally Posted by Captain Bill

This thread has had 754 posts, and 24,500 views, so the thread is obviously being read by a lot of people. Therefore, I see no valid reason to close an active thread like this.

No, just the same people saying the same thing over and over and over ...

[actinic]

Originally Posted by Captain Bill

What is your opinion of a sign of recovery?

When the migration trend reverses and our neighbors to the south, legally or otherwise, start coming north again.

[Skywayy2001]

Originally Posted by Steve Pickering

My sisters $240,000 home sold for $110,000 last month. My Ex bought three new, never lived in, $200,000 homes in Eloy and Florence for $60,000 each. I bought 1/2 acre lots by the golf course that were selling for $60,000 each on the proposed Airport Runway for $1,200. Don't pull an agent hyped comment on me and try to tell me the Market has not tanked and continues to do so.

I would say the press is correct.

That's because no one wants to live out there. Saying towns an hour away from Phoenix are suburbs is ridiculous. There small rinky dink towns in the middle of the desert.