Maricopa County Real Estate 2018 ?

[kitshipp]

Originally Posted by jimj

OpenDoor and Offer Pad are buying up houses at a quick clip as well, at least in our area...

I feel like there are a TON of Opendoor homes on the market. You can tell when they are Opendoor because of the filter they use and the way the take the pics. That and most of their homes sit on the market for a bit because they're basically low margin flippers.

[DetroitN8V]

With housing in the most desirable neighborhoods flirting with certain CA markets’ pricing, I believe there will be a correction at some point. I just question how many buyers there are for $350+/sq ft homes in Phoenix.

Here’s an example: https://www.redfin.com/AZ/Phoenix/29.../home/26973255

[observer53]

Originally Posted by DetroitN8V

With housing in the most desirable neighborhoods flirting with certain CA markets’ pricing, I believe there will be a correction at some point. I just question how many buyers there are for $350+/sq ft homes in Phoenix.

Here’s an example: https://www.redfin.com/AZ/Phoenix/29.../home/26973255

Good grief. They did OK with what they had, but it's still a low ceilinged old ranch style house with minimal curb appeal and a virtually bare back yard, large though it may be. If that house is worth that to somebody.....


There's a house for sale in my neighborhood in Tempe, the three bedroom version of my four bedroom. Not enough updating beyond the floors and some shutters, the back yard doesn't fit the glowing written description, and it's priced at just under 100,000 more than sites say mine is worth. We'll see.....

[kitshipp]

Originally Posted by DetroitN8V

With housing in the most desirable neighborhoods flirting with certain CA markets’ pricing, I believe there will be a correction at some point. I just question how many buyers there are for $350+/sq ft homes in Phoenix.

Here’s an example: https://www.redfin.com/AZ/Phoenix/29.../home/26973255

$800k for a house that doesn't even have a garage. Nice turtle in the backyard though.

[DetroitN8V]

Originally Posted by kitshipp

$800k for a house that doesn't even have a garage. Nice turtle in the backyard though.

Nor a pool! People that think Phoenix is all cheap housing will have an eye-opener if the trend continues.

[Burkmere]

Originally Posted by DetroitN8V

Nor a pool! People that think Phoenix is all cheap housing will have an eye-opener if the trend continues.

I wasn't paying attention then because I wasn't living in AZ, but what were people thinking during the last top? Did they think it would go up forever or were they thinking real estate was high in the Metro? I'm curious as to how people were feeling and thinking then. As I unerstand its we are still not at the peak back then inflation adjusted, etc.

[Ponderosa]

Originally Posted by Burkmere

I wasn't paying attention then because I wasn't living in AZ, but what were people thinking during the last top? Did they think it would go up forever or were they thinking real estate was high in the Metro? I'm curious as to how people were feeling and thinking then. As I unerstand its we are still not at the peak back then inflation adjusted, etc.

I thought my home was ridiculously overpriced and only a fool would pay that. It was going to come down, but I never expected just how much it would come down. I don't think that now. Now we are about $350K which is $100K below what some of the online resources said back at the peak. The price is reasonable in the sense that if I were to move to another comparable house I would not feel like I was being robbed. It is also consistent with the inflationary trend line since we bought it.