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Old 05-08-2012, 08:25 PM
 
16 posts, read 52,104 times
Reputation: 23

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Quote:
Originally Posted by Foreverking View Post
I just need the Seattle market to stay level, and the phoenix Market to go crazy. Will this happen...probably not. maybe Ill just have a nice down payment. I do think this market (Phoenix) will jump faster than most areas.
Moderator cut: snip Hope you're able to make your Washington dreams a reality, and as for me, I can't wait until we can spend more time in our home in Arizona.

Last edited by Kimballette; 05-08-2012 at 09:32 PM.. Reason: off topic
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Old 05-09-2012, 10:33 AM
 
46 posts, read 65,456 times
Reputation: 25
Quote:
Originally Posted by jdahunt View Post
You should try and rent out your Chicago home, Chicago just had a 40% jump in the foreclosure rate and selling is going to be tough unless you're able and willing to take a hit......and I don't expect the prices to increase much going forward due to the political climate.
Tell me about it! Lots of condo buildings downtown decided not to let their owners rent the units. So that's jumping foreclosures as well and probably contributed heavily to that 40% dip. Luckily my building hasn't done that, and I can rent mine out. But I still take a loss because I had to learn the hard way. Granted, it's not a big loss, but a loss nonetheless. Should have realized that I would have to pay in value when tax credits were available.

Chicago market will come back, but it will take a long time. They're just now seeing the supply problems that Phoenix went through 2008-2011. Chicago still has more to fall... and will probably keep falling until supply starts dropping. Which it isn't. Once things level off there though -- assuming tax nazi's haven't gone too crazy, city inventory should hopefully start dropping off quick. But I don't think that will happen for 5 years.
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Old 05-10-2012, 09:32 AM
 
175 posts, read 372,532 times
Reputation: 294
I thought this thread was about Phoenix area real estate!
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Old 05-10-2012, 10:28 AM
 
Location: Scottsdale
272 posts, read 609,869 times
Reputation: 168
Quote:
Originally Posted by pgc323 View Post
I thought this thread was about Phoenix area real estate!
They're just trying to help me out. I'll be dealing with the Phoenix RE market shortly - I hope.
We need to sell - we need the equity for a down payment. Fortunately, we have equity - even after the RE crash.
Prices would have to fall to early 1980s levels for us to be in serious trouble.
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Old 05-23-2012, 06:19 PM
 
209 posts, read 503,458 times
Reputation: 73
Quote:
Originally Posted by JoeC View Post
They're just trying to help me out. I'll be dealing with the Phoenix RE market shortly - I hope.
We need to sell - we need the equity for a down payment. Fortunately, we have equity - even after the RE crash.
Prices would have to fall to early 1980s levels for us to be in serious trouble.
Have you given thought to a new build? Prices there seem to be doing well.
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Old 05-23-2012, 08:03 PM
 
Location: Scottsdale
272 posts, read 609,869 times
Reputation: 168
Quote:
Originally Posted by dadof2divas View Post
Have you given thought to a new build? Prices there seem to be doing well.
No. My wife and I decided a while ago to avoid HOAs. Unless there are new developments without HOAs, we're looking at resale in older areas.

Thanks anyway for the suggestion.

Side note: I bought new in Glendale in '96; had a CC&R that wasn't onerous, and no HOA whatsoever. Are there any new developments in the Valley without HOAs? Might open up some possibilities...
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Old 05-23-2012, 08:49 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,574,499 times
Reputation: 1784
"housimg prices really jumping that much....WHY?"

Cheerleaders. Next question?

To be less serious, a ceiling over your head in an apartment you rent fullfills 99.999% of the same function as the ceiling over your head when you pay property taxes to the county and interest on the loan to the bank.

My apartment complex has up to three bedroom units and allows the occupant one large dog. Want to install a ceiling fan? They most likely will allow it but of course it is theirs to keep. Ceiling fans don't cost Moderator cut: inappropriate language anyway.

Quote:
Originally Posted by dadof2divas View Post
I have been looking online at several houses and it seems like with in 2-3 days they are gone. Why? I understand that the housing market is bouncing back but this reminds me a lot of the 05-06 housing when it when on the market and it was sold FAST. Are the investors buying them up? If so how is a average person going to be able to purchase a house? It is getting very aggravating looking and when we are ready to go see it has already received multiple offers on it. I have family that wants to move out with us and they have been told that finding a house under $110K and paying cash probably will NOT HAPPEN.
What is your feedback on this subject? Do we need to find a new realtor or is this a real scenerio that is not going to happen for him?

Last edited by Kimballette; 05-23-2012 at 08:58 PM..
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Old 05-23-2012, 08:57 PM
 
Location: LEAVING CD
22,974 posts, read 27,049,999 times
Reputation: 15645
Quote:
Originally Posted by Howard Roark View Post
"housimg prices really jumping that much....WHY?"

Cheerleaders. Next question?

To be less serious, a ceiling over your head in an apartment you rent fullfills 99.999% of the same function as the ceiling over your head when you pay property taxes to the county and interest on the loan to the bank.

My apartment complex has up to three bedroom units and allows the occupant one large dog. Want to install a ceiling fan? They most likely will allow it but of course it is theirs to keep. Ceiling fans don't cost mucking Fuch anyway.
You do realize you're paying everything the homeowner is just indirectly right? The thing about an apartment is the only thing you'll ever get out of it is a shared roof over your head and being able to listen to other tenants when they salsa at 3am in the upstairs/next door unit.
That's the great thing about the U.S., there's something for everybody.
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Old 05-23-2012, 09:00 PM
 
1,232 posts, read 3,136,151 times
Reputation: 673
Quote:
Originally Posted by JoeC View Post
No. My wife and I decided a while ago to avoid HOAs. Unless there are new developments without HOAs, we're looking at resale in older areas.

Thanks anyway for the suggestion.

Side note: I bought new in Glendale in '96; had a CC&R that wasn't onerous, and no HOA whatsoever. Are there any new developments in the Valley without HOAs? Might open up some possibilities...
I don't think so. I think the cities will no longer take on the neighborhood stuff like street maintenance, retention basins, etc.

You could buy a lot in an otherwise developed area and build custom. They're not cheap, though. The ones I know of are usually acres, too. You could also buy a 'tear down' and rebuild. Not so many of those in the 'burbs but people do it in Phx and Paradise Valley.
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Old 05-23-2012, 09:47 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,574,499 times
Reputation: 1784
Quote:
Originally Posted by jimj View Post
You do realize you're paying everything the homeowner is just indirectly right? The thing about an apartment is the only thing you'll ever get out of it is a shared roof over your head and being able to listen to other tenants when they salsa at 3am in the upstairs/next door unit.
That's the great thing about the U.S., there's something for everybody.
My rent per month is so cheap I don't miss it. $2000 per month on two apartments, same day maintenance. I put away three times that amount into non-real-estate investments. Even in 2000 my rent was a total of $600 per month -$7200 per year but my salary was $65,000, and I saved far more into investments outside RE. Recently, people decided their supersized bodies belong in super sized McMansions and ended up paying a fortune. Check out the 4,000 sq ft behemoths in QC which were going for hundreds of thousands and are selling for a fraction.
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