A good example of what 50K gets you in PHX. (Phoenix: 2015, power lines)

[rjrcm]

Originally Posted by khuntrevor

1338 E Devonshire was listed until about wednesday. Ziprealty only shows me homes that are still available. It could have been taken off the market, but I think it was sold.

Interesting, the MLS has no record of that address ever being listed for sale.

Edit: Ah, I think I found the problem, the address is actually 1333, not 1338:

http://www.flexmls.com/link.html?wyoh84mup43,12,1

It closed on 5/11/12 for $32K cash. I wouldn't put too much stock in the original list price of $18K, although it did get multiple offers. It was a short sale, and the lender probably came back with a higher price requirement.

[khuntrevor]

It was a little unusual, there were specific mls#s given to show comps. It was an owner agent.

[rjrcm]

Originally Posted by khuntrevor

It was a little unusual, there were specific mls#s given to show comps. It was an owner agent.

See my posting edit, address was off.

[Rpn0728]

What a horrible way to have to live. These houses are a disaster.

[azdr0710]

Originally Posted by Rpn0728

What a horrible way to have to live. These houses are a disaster.

be grateful for what you have, man....some people (billions of them, actually) aren't so lucky.....I wouldn't call these places "disasters"....they need work and aren't in smashing neighborhoods, but the right person/family can really make it work....it's all supply and demand....

[Rpn0728]

Originally Posted by azdr0710

be grateful for what you have, man....some people (billions of them, actually) aren't so lucky.....I wouldn't call these places "disasters"....they need work and aren't in smashing neighborhoods, but the right person/family can really make it work....it's all supply and demand....

I am very grateful. That's really what I was trying to say.

[sablebaby]

[quote=ReadyFreddy;24357675]They're just two different markets. The El Mirage home costs 20% more, too. (And I don't know that area but doesn't El Mirage get trashed as being seedy, too?)[/QUOTE]

Yes it does. I looked in this exact location when they were still being built and I said NO WAY!! It's basically Crapville. Property values will never go up. Hence why they are cheaper now than when they were new (and this is BEFORE the boom).

[S. Chris Webb]

"Home is in major need of repair, and some deep cleaning and trash removal. Windows are mostly broken and boarded up for safety. Home has no heat and a evaporative cooler for cooling. No repairs will be done by sellers or warranties given"

This would likely cost a LOT to fix up. And you can't pick it up and move it to a nicer location either.

[ReadyFreddy]

Yeah, that one looks like a tear-down to me but I'm frequently shocked at what flippers can rehab. The land alone might be worth $32k or whatever it sold for. There are house-sized lots out here for sale for $150-200k and more. I guess if you absolutely must build custom and be in an established neighborhood, close-in...?

[Jukesgrrl]

Originally Posted by Howard Roark

Bars in the window. Meth central. That is what $50,000 gets you. I would not be a slumlord. I would stay up nights worried about walls getting kicked in.

Those aren't bars on the window. It's open vertical blinds. The things that look like bars in the main room are the rails in that block "fence" that are seen through the window.