Phoenix Metro Housing back to 2006 Prices?

[jimj]

Originally Posted by Zippyman

Actually, one of the upgrades I did that I was told was "unnecessary" was having the garage floor epoxied - with a Sherwin-Williams solvent-based epoxy. There wasn't a direct "+$$xxx" adjustment to the appraisal, but it did get mentioned in the report & I think it helped justify the valuation - none of the comps had garages that nice, so I think it might have helped turn a "looker" into a "buyer"..

I'm still watching the neighborhood where I sold my house & I kinda feel bad for some of the sellers - one (otherwise nice) house has an unpermitted enclosed porch with a window a/c hanging out of the side - just knocking that down would probably get them a full-price offer in a weekend, others are stuffed with junk, really bad photos, etc.. I honestly think many people invest more time & energy selling a used car for $1500 than they do in trying to sell a $200k+ home.

It's funny really, we've looked into selling recently and I talked to our realtor/friend. I was thinking it was important to get about 10 ton of rock to overlay our front/back yard as the current rock is original from 10 years ago and very,very thin/showing dirt in many places. I also wanted to finish the concrete pad (about 4 yards of concrete) around my backyard pizza oven where it's currently dirt and I made a cut into the lawn for the pad, as well as epoxy the garage floor to spiff it up.

Her response was "if the whole cost is more than $500 don't do it as it's a waste and you will not get it back when you sell".

My thinking is these are things I want to do if I were to stay AND would raise the curb appeal (rock) as well as the over all appeal as it would look maintained and "finished".
I want to garner the higher side of our comps not the middle/lower side or have to do a bunch of price drops to get it gone.

I look at it as spending $1500 +/- may just mean getting $2 to $5 per sqft more and selling it quicker vs not getting it and sitting on it for 90++ days.

[john3232]

Originally Posted by jimj

It can be done if you find the right agent (maybe Zippyman since he's now legal again ).
Seriously though, from all I'm seeing in the west valley it's a serious sellers market right now but that may be changing as I'm also seeing a bit of an uptick in people trying to jump on the selling wagon around me.
As for the garage floor, try getting a garage floor epoxy kit and paint it on. Viola! Nice clean floor and a selling point.

For the garage and driveway stains I use trisodium phosphate mixed with oil dri (which I first crush into a powder)
http://www.familyhandyman.com/garage...tains/view-all

Works fairly well

[Lovehound]

I bought in Mesa 85209 in 2014 for about 225K and stats say properties in my area are going up about 5%/year.

I once took a class "lying with statistics."

So far seems like a good investment.

[gil_happy]

On the subject of the next real estate bubble, based upon the 18 year average, the next predication is ~2025:
The Real Estate Cycle: Where Are We Now?

Not sure if this theory is still applicable, but something to keep in mind. Feedback is always appreciated.

Thanks!

[Potential_Landlord]

Originally Posted by gil_happy

On the subject of the next real estate bubble, based upon the 18 year average, the next predication is ~2025:
The Real Estate Cycle: Where Are We Now?

Not sure if this theory is still applicable, but something to keep in mind. Feedback is always appreciated.

Thanks!

I also follow three cycles for the general economy: the inventory cycle ~3-5 years, the business investment cycle 7-11 years and the consumer spending cycle ~15-25 years. And yes there are outliers, so it's not predictable with absolute certainty. The RE cycle follows the consumer spending cycle. It last bottomed 2012, so we have many more years left. Also the growths in the current cycle is so slow that the cycle will probably be on the long side. A top before 2025 is impossible IMO and more likely past 2030. That doesn't mean there won't be a down year here or there in between, but not crash.