Is Phoenix RE a good investment? (renting, mortgage, home builders) - Arizona (AZ) - Page 8 - City-Data Forum

sh9730 · 05-08-2012, 11:21 PM

The first apartment construction in over 5 years just began last week here in Casa Grande. The replacement of 100+ units (5 buildings) that were framed and then burned back in 2007. The complex opened with the 5 buildings that didnt burn, but the burned units were never rebuilt due to the economic conditions. This week they pulled new permits and are grading the area again to put them up.

There has been a trickle of new build construction going on here in CG all along, but very slow (like 10 permits a month on average), and almost all of it was in the 55+ communities.

But, as with elsewhere, things may be starting to change here on the building front.

Zippyman · 05-09-2012, 09:03 AM

Quote:

Originally Posted by autism360

My guess is when word gets out thousands of construction workers will be headed to Phoenix,things are about to get very busy here.

I disagree with her contention that 30k new homes in inventory would be "healthy", historically we haven't had to deal with $5 gas, and any new homes will have to be built in far-flung areas.

jimj · 05-09-2012, 09:08 AM

Quote:

Originally Posted by Zippyman

I disagree with her contention that 30k new homes in inventory would be "healthy", historically we haven't had to deal with $5 gas, and any new homes will have to be built in far-flung areas.

First off, new gas price forecast put out today, not higher than right now is what they're saying. As for "far flung", what is considered "far flung"? Not being a smart aleck but with the loop 303 well on it's way and commercial building starting up in that corridor is that the boundary or is it closer in? In the east valley is Queen Creek too far?

Just wondering what's the delineator?

Ponderosa · 05-09-2012, 09:14 AM

Quote:

Originally Posted by jimj

First off, new gas price forecast put out today, not higher than right now is what they're saying. As for "far flung", what is considered "far flung"? Not being a smart aleck but with the loop 303 well on it's way and commercial building starting up in that corridor is that the boundary or is it closer in? In the east valley is Queen Creek too far?

Just wondering what's the delineator?

Yes. I have not seen $4 gas much less $5 and prices are expected to fall. Anyway, thanks to new CAFE rules, we now have a large selection attractive and sporty cars that get 40 mpg, so its a wash. The burbs are as affordable as ever. I always get a chuckle when I hear the its too far out there talk. I heard it about Ahwatukee when I moved there, then Chandler, then Gilbert, now San Tan on the east side. People still want the suburban life style and will pay and do what is needed to have it.

Zippyman · 05-09-2012, 09:53 AM

Quote:

Originally Posted by jimj

First off, new gas price forecast put out today, not higher than right now is what they're saying. As for "far flung", what is considered "far flung"? Not being a smart aleck but with the loop 303 well on it's way and commercial building starting up in that corridor is that the boundary or is it closer in? In the east valley is Queen Creek too far?

Just wondering what's the delineator?

You guys can live wherever you want to live, but I can tell you there are people out there like myself who have no interest in wasting our lives commuting. There was a time when I drove 60k+ miles every year, in retrospect, that was just as dumb as having a mullet. If you want to subject yourselves to a gas payment that exceeds your house payment, feel free. Buy a new American car every three years to replace the one you wear out, and I'll even call you a patriot.

jimj · 05-09-2012, 10:01 AM

Quote:

Originally Posted by Zippyman

You guys can live wherever you want to live, but I can tell you there are people out there like myself who have no interest in wasting our lives commuting. There was a time when I drove 60k+ miles every year, in retrospect, that was just as dumb as having a mullet. If you want to subject yourselves to a gas payment that exceeds your house payment, feel free. Buy a new American car every three years to replace the one you wear out, and I'll even call you a patriot.

The point I was making is if you work in Surprise and live in Buckeye is that far flung? Yeah, if you live in Gilbert and work in Glendale then you've got a bit of a commute on your hands.
Far flung totally depends on your starting and ending point right?

MN-Born-n-Raised · 05-09-2012, 10:20 AM

Quote:

Originally Posted by Zippyman

You guys can live wherever you want to live, but I can tell you there are people out there like myself who have no interest in wasting our lives commuting. There was a time when I drove 60k+ miles every year, in retrospect, that was just as dumb as having a mullet. If you want to subject yourselves to a gas payment that exceeds your house payment, feel free. Buy a new American car every three years to replace the one you wear out, and I'll even call you a patriot.

I work out of my home. On a bad year, I drive 15K miles and that includes driving to my cabin 2 hours away. That being said if I could be more central and still have a newer home I would do that (so long as the premium isn't 50%).

There are trade-offs in every location. I put a priority on newer style construction and retail area "feel". I just don't like the look and feel of 1950-1980 homes. That's just my person point of view. I'm also into value so I picked the outer burbs. I'm very close to everything I could ever need.

So for those who drive to work from Surprise to Chandler daily, I agree with your point of view. MOST people fall into your camp because they work where the majority of the jobs are.

But there are a ton of people that don't have a commute and it is growing. I just don't see $5 gas killing Surprise. If anything, it will push more retail to the area OR people will buy more efficient cars. Gas is a "nothing burger" for me.