Fountain hills insanity (Phoenix, Tucson, Chandler: sale, hotel, houses)

[locolife]

Originally Posted by westcoastforme

Picture 14 that bed in the closet lol

But still even if it was updated. 1 million seems absurd. The market is ridiculous again

Try going to any other large city in the West if you think Phoenix is insane- Salt Lake, Denver, all of the west coast cities are of course crazy. Despite the million dollar price tag here and there for the most part Phoenix remains a steal for western big cities.

[westcoastforme]

Originally Posted by KurtAZ

Location Location Location. AJ is known for its' Meth labs and trailer parks (or at least historically so). Look at the homes in Troon...many of them are pushing $1M or over.

Phoenix Metro isn't the "affordable" place to live it once was. Sure we still have low taxes etc. but the housing prices are seeing the demand of newbies moving in with cash. I mean our home in Chandler has gone up 32% in the past 2 years. Problem is if we want to stay in the area, we would be looking at a smaller home for the same money we paid originally...so why sell?

I see another real estate crash coming

[Burning Madolf]

Originally Posted by westcoastforme

I see another real estate crash coming

Really? Why? Are you talking just AZ or nationwide?

[JGMotorsport64]

Originally Posted by Burning Madolf

Really? Why? Are you talking just AZ or nationwide?

Some people just like saying that for some reason.

I don’t see a crash and I’m an equally credible anonymous internet person.

I do see eventual stagnation, but the cheap Phoenix we once knew is relegated to the outskirts.

[DetroitN8V]

Originally Posted by westcoastforme

I see another real estate crash coming

Based on something substantive or just your “feelings”?

[westcoastforme]

Originally Posted by DetroitN8V

Based on something substantive or just your “feelings”?

Values going too high too fast.

[Potential_Landlord]

There can't be a RE crash as long as activity (new home sales, building permits) is still growing. Only after activity goes down, price can decline. Nothing in sight here. A decline in activity give you ample warning and even when it tells, most declines are in the 5-10% range so hardly worth worrying. The bigger, nation-wide declines are rare, maybe once a generation events. Don't let recency bias fool you. The next decline of 2005-2011 proportion we won't be alive.
Local crashes, particularly in raw material patches like Houston are more common btw. But not Phoenix.

[DetroitN8V]

Originally Posted by westcoastforme

Values going too high too fast.

According to who? Sounds like “feelings” without any data. I disagree, as lending standards are still fairly tight and demand seems very stable.

[Valley Native]

Gone are the days when Phoenix was seen as a cheap haven. It's not cheap to live here anymore, and the home prices are a clear sign of it. We can still be affordable compared to many cities in CA, but being cheap does little for us other than attract cheap people who are here for cheap reasons. Hopefully, the spike in prices will attract better quality newcomers who are business & goal oriented, rather than because it's sunnier & cheaper than where they came from!

[Bondurant]

Originally Posted by westcoastforme

1 million for 3400 sqft 4 bedrooms?

Insane

https://www.zillow.com/homedetails/1...88790771_zpid/

Nope. No one goes bargain hunting in Fountain Hills.