Neighborhood input: PV Mall area (Phoenix, Scottsdale: apartments, houses, buy)

[gsm113]

More specifically there is a neighborhood just north of the mall, between it and Thunderbird. I've been looking at houses there and they seem just as nice as those across Tatum, but priced less because the area is not in the "magic" 85254. The neighborhood seems to be isolated from the rest of it's more run down zip code to the west by apartments and a park.

So anyone have any input on the neighborhood? Crime? I don't see a lot of run down properties but they could be updated for sure. Lots of block exteriors, not much of the more modern stucco finishes you see on remodels. Would you say this area has promise?

[DetroitN8V]

A lot of 85032 seems identical to 85254. They are both Phoenix and both feed to the PV school district. 85032 gets spottier as you go west, where pretty much all of 85254 is nice. I don't see much of a difference especially that close to Tatum.

[gsm113]

Originally Posted by DetroitN8V

A lot of 85032 seems identical to 85254. They are both Phoenix and both feed to the PV school district. 85032 gets spottier as you go west, where pretty much all of 85254 is nice. I don't see much of a difference especially that close to Tatum.

That's what I thought! But the strange thing is across Tatum you see a lot more houses with new exterior finishes whereas in this neighborhood you don't. Would that be a good measure of how the market feels about the area? Maybe homeowners/investors don't feel the large exterior investments are worth it?

[DetroitN8V]

Originally Posted by gsm113

That's what I thought! But the strange thing is across Tatum you see a lot more houses with new exterior finishes whereas in this neighborhood you don't. Would that be a good measure of how the market feels about the area? Maybe homeowners/investors don't feel the large exterior investments are worth it?

Someone more knowledgeable that I am will hopefully comment on this, but I'd suspect that the stucco finishes that you're seeing on one side of Tatum versus the brick exteriors on the other are likely the way they've been since they were built. I think people tend to leave brick exposed and they'll stucco cinder blocks. I'm not sure it's as much an issue of exterior renovations as it is simply different styles from when the houses were built.

[AZJoeD]

Originally Posted by gsm113

That's what I thought! But the strange thing is across Tatum you see a lot more houses with new exterior finishes whereas in this neighborhood you don't. Would that be a good measure of how the market feels about the area? Maybe homeowners/investors don't feel the large exterior investments are worth it?

You pretty much answered your own question. Because of the Scottsdale address of the homes on the east side of Tatum it attracts more people with higher disposable income and more money to invest in big ticket items like new stucco, tile roofs, etc. It does not mean that the west side is bad, but if you are going to pay less for the home when you buy it chances are your are going to sell it for less when you sell. Investing $20K in improvements in a $200K house might seem more practical than investing $20K in a $150K house. This is an established area and you are not going to see a major shift in values. If you invest too much in your home compared to the other homes around you, you may not see the return on your investment.

Of course, if you are going to live there for a long time (10+ years) and you just want a really nice home to live in then you may be OK.

[pbenjamin]

We lived in the neighborhood southwest of the Greenway/Tatum intersection (85032). The homes in our subdivision were built by Malouf Bros. and later Coventry, in the early 80's. The lots were zoned R1-14 which made them 1/3 to a 1/2 acre, ours was 110x140. The models for the (later) Coventry homes were across Tatum in 85254 where they were also building less expensive Coventry models on smaller lots. The house sold in 2006 for $545K, would be less now. The only things "better" about the homes across in 85254 were the elementary school (Liberty) and the Scottsdale address. There are a lot nice homes between 44th Street and Tatum.

[azdr0710]

I think you'll be fine west of Tatum, but stay east of 40th St.....if you don't need the prestige of a Scotts mailing address (85254), then you'll save the 10%-20% (??) premium required to live in that zip....

AzJoe makes good points about the efficiency of people putting money into their house....

[observer53]

A friend of mine lived between 44th and Tatum, south of Acoma, for years until just recently. I like the area a lot. I agree that east of 40th is better.

[Ztonyg]

West of 40th you get close to the "Greenway Square" area. While I don't believe that area is anywhere near as dangerous as some people make it out to be, the area between Cave Creek Rd to 40th St. is just not nearly as nice as areas to the east or west of it.

[pbenjamin]

Originally Posted by Ztonyg

West of 40th you get close to the "Greenway Square" area. While I don't believe that area is anywhere near as dangerous as some people make it out to be, the area between Cave Creek Rd to 40th St. is just not nearly as nice as areas to the east or west of it.

Greenway Square is west of 32nd Street.