East side to West side?! (Phoenix, Mesa: to rent, low crime, mortgage)

[Bekah1580]

Hi, I'm new here. I've lived in the Valley since '96. First Fountain Hills, then Mesa, then Phoenix. We're currently at 44th St./Thomas. I love where I live but my husband wants to move -- specifically to sell our home and rent his mother's home which is at 47th Ave./ Thunderbird. We have 3 small(er) children ages 11, 9 and 7. They go to a great school that is 10 minutes from home. My husband wants to move because our mortgage is high and we have some credit card debt. We are doing ok, but it is tight. We don't have extra $ for vacations, kids activities, orthodontics, etc. However, we have a great community of friends here. I'm really torn about moving our family to this part of town that I don't like so much. The zip code is 85306. I'm really unfamiliar with the West side overall. The neighborhood his mother lives in is mostly renters. The area does not seem to have an energetic vibe or really any vibrancy at all. I guess I'm posting to vent and get any input on this situation. I realize that it is a personal decision we have to make. One added point is that we bought our home in 2005 when prices were sky-high. We were underwater for several years. At this point I don't even think we could sell our home for what we purchased it for. However, we should be able to make some $ due to equity at this point.

[adriver]

Definitely not much to walk to around there. The college is right on that corner, mcdonalds and a starbucks. Theres a lot within a few miles in all directions, but nothing I would be walking too. I think you're right about the renters, and definitely bland compared to where you are now.

I was considering moving right there, but the ONLY reason would be to walk over, then run around the college. Just north of thunderbird looks like some of the cheapest homes within miles.

[AZgarden]

My daughter and family live around 40th St and Osborn where everything is being sold, rehabbed and priced in the 400 to 500s. Some pretty impressive remodels around there. Is that happening near you also? Maybe you can make out like a bandit with your home if you can sell it to a flipper?? I would not want to move to the west side unless you paid me a hefty incentive. JMHO

[AZJoeD]

I am sure you have considered this, but I will ask anyway. Have you attempted or considered re-financing at today's rates? When you bought in 2005 you were likely paying 4.5 - 5.5% interest. Today you can get a HARP refi under 4%. That could reduce your payment enough to let you stay in your current home. It costs nothing to get a loan estimate.

[adriver]

Originally Posted by PhxBarb

My daughter and family live around 40th St and Osborn where everything is being sold, rehabbed and priced in the 400 to 500s. Some pretty impressive remodels around there. Is that happening near you also? Maybe you can make out like a bandit with your home if you can sell it to a flipper?? I would not want to move to the west side unless you paid me a hefty incentive. JMHO

No, that area near arcadia and Biltmore is being built up and renovated more and more. Over on the west side where the OP is talking about its renters, and retirees. Most of the strip malls around there, the main/largest business is vacant. If it wasn't for the college, (and the college students who move over there to rent near school), this area would be dying off. I've stayed in both areas. The area OP is currently in, is 20 times better easy.

[yukon]

I'd take good schools and good neighbors over cheaper monthly payment any day. Like AZJoeD said, have you looked at a re-fi?

[ddandano]

59th ave and Thunderbird has Einstein Bros and Starbucks and Chilpolte. The Peoria schools are pretty good. Ironwood high school has IB if your kids are uber-smart. Brown st. library is close as is Saguaro Ranch park. Arrowhead mall is about 5 miles from that address. Quiet low crime area with mostly families and schools that are between good and great. Just south of 59th Ave and Tbird is the canal park. Nice area.