Tell me what you hate about the Valley (Phoenix, Sun City: short sales, real estate market)

[petlover8]

Originally Posted by Java Jolt

Verrado is located in Buckeye.

Exactly my point. Go south of I-10 and your money buys twice as much as it does in Verrado. And in a finished neighborhood with the same exact type of construction. Now, what is it about that your not understanding, and failing to grasp?

[Ponderosa]

Originally Posted by petlover8

That's what I said, ANTHEM AND SUN CITY GRAND ARE FINISHED. Sun City Grand is NOT a half finished abortion like Verrado is. No, people are not "getting screwed" buying in SCG. Your problem is your having difficulty comprehending what I'm writing. Try reading what's in front of you, starring you in the face, not what you want to see.

Many people prefer to buy new homes in developing areas. In fact, one could make the point that moving into a new area is a Phoenix tradition. They like the modern feel, the newness, being a pioneer or whatever. Personally, I prefer being among the first to live in an area and am drawn by the lack of people and congestion. It is nice to have the place to yourself. You apparently prefer established areas with older homes and all the trappings of civilization. There was a time when Anthem and SCW were undeveloped raw lots and partially completed subdivisions. If everyone were like you, they still would be.

[petlover8]

MN-Born-n-Raised,

(edit-one sentence deleted)Verrado is selling at prices today that should reflect a finished, planned community, which it is not. No one knows when, or even if it will ever be finished. Both Sun City Grand and Anthem are finished, with all of the promised homes and amenities completed. In short, people are getting what they are paying for. In Verrado you're being charged for promises that may, or may not ever materialize. You with me so far?

Why would you, me, or anyone else want to pay a premium for a home, in a half finished community, where there is zero guarantee when, or even if it ever will be? Why pay for a long shot, when there are so many other FINISHED planned communities like Verrado, that offer much the same style of homes, along with all the completed amenities? You're then getting what you're paying for at the time of sale. (mod edit-one sentence deleted)

[observer53]

This thread is going way off topic. Suddenly the thread is all about Verrado (or arguing about Verrado) which probably has its own threads here already.

[petlover8]

Originally Posted by Ponderosa

Many people prefer to buy new homes in developing areas. In fact, one could make the point that moving into a new area is a Phoenix tradition. They like the modern feel, the newness, being a pioneer or whatever. Personally, I prefer being among the first to live in an area and am drawn by the lack of people and congestion. It is nice to have the place to yourself. You apparently prefer established areas with older homes and all the trappings of civilization. There was a time when Anthem and SCW were undeveloped raw lots and partially completed subdivisions. If everyone were like you, they still would be.

The biggest problem with your analysis is real property is moving much slower than it used to. Especially new construction. Verrado proves my point. I'm not talking about the craziness that was taking place during the housing boom, or the total dormancy that happened after. I'm talking about now. It is much harder for people to obtain mortgages today. The rejection rate is higher than it's ever been. Lending institutions have clamped down. Many require much larger down payments than they have before. Many buyers, especially first time buyers, don't have the credit ratings that are required to measure up to todays financial demands placed on them by the lending industry.

The result is many planned communities like Verrado are laying all but dormant for years. This was not the case a few years back. When we bought our home in 1997, my subdivision was less than half completed, much like Verrado is today. They finished it, and sold off the models within 16 months after we moved in. You had a much better assurance then that things would be finished in a much more timely fashion than today.

This hasn't improved much since the crash, and I doubt it will because of the way people live today. Most are extremely cash poor. They owe so much it makes it almost impossible to save what is required to buy a home, and meet today's purchasing criteria that often includes a large down payment. Especially if it is required to offset a low credit score. With our current idiot of a President, and stalled economy, who knows when, or even IF this will change. People don't like living in a construction environment, not knowing how long they'll have to put up with all of it before, or if, it will ever be finished. It simply takes far too long for this to happen in today's horrible economy. The results are unfinished communities like Verrado that were over built, and cannot be supported by today's much slower housing market.

[MN-Born-n-Raised]

Originally Posted by petlover8

That's what I said, [b]ANTHEM AND SUN CITY GRAND ARE FINISHED.

Actually, you said this.

Originally Posted by petlover8

It's no where near as far along as say Anthem, or Sun City Grand.

That suggests you didn't know it was finished. So it seems to have decade old information. for what its worth, Anthem isn't finished Active Adult Retirement Communities | Sun City Anthem at Merrill Ranch | Florence, AZ | Del Webb New Home Builders .

[ibarrio]

Originally Posted by MN-Born-n-Raised

Psst. Sun City Grand has been finished for a decade.

Using your logic, people are getting screwed for buying in SCG. After all, you can buy the same square footage of house for 1/2 the price in other Surprise areas.

The homes in Sun City Grand are nice and they are buying into a lifestyle. I bought wine cooler from a couple in SCG (brand new for $50, their new home had a built in WC) and was surprised that an older couple would need a three car garage and such a big house

[BIG CATS]

Originally Posted by Ponderosa

I like the one that suggests the neighbor gives treats to the ladies as well as the dogs. Very Verrado.

I swear if that jingle gets in my head....

[petlover8]

Originally Posted by ibarrio

The homes in Sun City Grand are nice and they are buying into a lifestyle.

I agree. The difference is Sun City Grand has delivered on their promises and amenities. Verrado has yet to. This regardless of how anyone wants to play with words.

[Montanama]

This thread has gone in such a weird direction. There are many developments in the valley that are not yet finished, including the one I live in that has been around for decades. I suppose one could say of any of them that no one knows if they will ever be finished, as one could say of any project that has ever been started by anyone. Ever. That's what it means to start, to progress....?????

It is normal for developments to progress in phases. They are planned that way. SCW and SCG were planned that way and grew that way. At one time they were unfinished. And then they grew. And then they were finished.

If the poster would like to argue that no one should buy in unfinished developments, or that they personally would not prefer to do so, and leave it at that, I would understand. Though it might be a new thread altogether. Or simply say, "I hate that so many people are willing to pay more for homes in unfinished subdivisions--seems risky to me, and I wouldn't be comfortable doing it." That I get.

But I don't understand singling out Verrado as if it's somehow unique, and seeming so angry about it. It's not unique. It's a nice, upscale development with lovely homes and a very distinct style--like many other developments across the valley would claim to be. Home prices may be higher than neighboring homes in less upscale developments. As in any other such development across the valley. It's not finished yet, and conceivably something could happen to prevent it from being finished. But at this time homes are being built, and development continues to grow. As with any other. How is that abortive? Where are you getting the idea that Verrado, in particular, will not be finished and what is already there will somehow crumble?

I just don't get your problem with this particular development compared to any other. Vistancia is not finished, nor is Estrella, nor a half-dozen developments we visited in the east valley before buying. SO WHAT? Some people are comfortable buying in developments where construction is ongoing. Some would rather buy in a finished, established neighborhood. Different people like different things.

Apparently plenty of people are confident enough in the the future prospect of their development being finished, and happy enough with the direction it's gone in so far, that they are willing to buy there (wherever "there" is). Why would that bother anyone who would prefer not to make that choice?

One of the things I love about the valley (opposite of this thread) is that there really is something for everyone. Perhaps petlover8 loathes this aspect of the valley. But I'm not sure how you think the SunCities came to be. Did they drop from the sky fully finished?!

I just don't get the objection to this one development in particular that is no different from dozens of others. If it's your personal preference not to live in an unfinished development, super. But why are you so angry that others choose to do so?!

ETA: Verrado, to get specific again, IS delivering on lifestyle. (That's why the subsidized businesses were placed from the get-go, BTW.) They have community events nearly every weekend. The parks are in, they are maintained and well-used. The SECOND community center/aquatic center is in and open. The original community center is well-used and maintained. The golf course, same. WHAT ARE YOU TALKING ABOUT? The vacant lots are there so that houses can be built on them as the development continues to phase in.

Can't. I don't get it.