U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-24-2021, 11:44 AM
 
Location: Gilbert, AZ
1,002 posts, read 519,480 times
Reputation: 1765

Advertisements

Quote:
Originally Posted by FirebirdCamaro1220 View Post
Two words: Down Payment

There's a big difference between being able to pay $1,810/month and having $80,000 in cash for 20% down
This isn't 1992 - you don't need anywhere near that to put down. In fact there are several first-time homebuyer programs that will actually give you money for a down payment with no requirement to pay back if you live in the residence for three years. But I feel like I've told you this before, so it must have just been dismissed.
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-24-2021, 12:00 PM
 
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
25,990 posts, read 10,343,854 times
Reputation: 8629
Quote:
Originally Posted by Sno0909 View Post
This isn't 1992 - you don't need anywhere near that to put down. In fact there are several first-time homebuyer programs that will actually give you money for a down payment with no requirement to pay back if you live in the residence for three years. But I feel like I've told you this before, so it must have just been dismissed.
First, I don't want to pay mortgage insurance, and secondly, I want to at least be a competitive buyer when that day comes. 20% down is better than 3% down...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 12:41 PM
 
6,994 posts, read 8,451,011 times
Reputation: 6395
Quote:
Originally Posted by FirebirdCamaro1220 View Post
Two words: Down Payment

There's a big difference between being able to pay $1,810/month and having $80,000 in cash for 20% down
Don't shoot the messager, but all too often, the three words are: Didn't budget wisely. I'd be living in THE cheapest home, driving THE cheapest car, never eating out, etc in order to save for a downpayment. In fact, I figured that out at 12 years old: work hard and save. My wife was a saver as well. It's why we owned a new home at age 21.

Quote:
Originally Posted by FirebirdCamaro1220 View Post
Again, you're looking at what would benefit one person like their in a vacuum and their competition doesn't exist.

If more people did as you said with nothing else changed, the same people wouldn't be any farther ahead, as them and their competition will have more money, which will just push prices higher (unless supply increases)
^^ You are really struggling to understand my POV. I give... In summary, I'll use my approach, and you use yours.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 12:42 PM
 
Location: Gilbert, AZ
1,002 posts, read 519,480 times
Reputation: 1765
Quote:
Originally Posted by FirebirdCamaro1220 View Post
First, I don't want to pay mortgage insurance, and secondly, I want to at least be a competitive buyer when that day comes. 20% down is better than 3% down...
Ok, I guess you will just be stuck complaining to random internet strangers for years to come about how the game is rigged instead of moving forward on a home purchase. I honestly don't get it, but it's your life, man - do as you wish and keep renting.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 12:44 PM
 
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
25,990 posts, read 10,343,854 times
Reputation: 8629
Quote:
Originally Posted by Sno0909 View Post
Ok, I guess you will just be stuck complaining to random internet strangers for years to come about how the game is rigged instead of moving forward on a home purchase. I honestly don't get it, but it's your life, man - do as you wish and keep renting.
Location is more important to me than owning, that's why. So if I get the scratch together, great. If not, then I just keep renting
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 01:00 PM
 
332 posts, read 461,661 times
Reputation: 1016
My realestate agent called me yesterday and told me it has gone from being a crazy market, to a completely insane one out here around the Sun Cities. He said they are now getting 8-10 offers per house and most over list. He recommended not buying here right now. He has never seen anything like it and could only compare it to California realestate. Very Very Very depressing.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 01:06 PM
 
6,994 posts, read 8,451,011 times
Reputation: 6395
Quote:
Originally Posted by Katera View Post
My realestate agent called me yesterday and told me it has gone from being a crazy market, to a completely insane one out here around the Sun Cities. He said they are now getting 8-10 offers per house and most over list. He recommended not buying here right now. He has never seen anything like it and could only compare it to California realestate. Very Very Very depressing.
I strongly predict people are making offers on 5 homes and then are thinking about it. Our 1st offer was full-priced and accepted inside of an hour. But they never bothered answering us back. Their RE agent went MIA the following day too. In other words, there are more homes for sale than buyers.

In our hood, I know of three places that are going to go on sale soon. You might want to get your ear on the ground or work with an agent that is a "player". In our neighborhood, there are two agents that get most of the listings. They know what is coming up. One sold across the street without an agent (a neighbor wanted to be on the course and they knew the sellers). Another one happened the same way a couple of months back. Those two had a total of ONE bidder.

Last edited by MN-Born-n-Raised; 03-24-2021 at 01:37 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 01:53 PM
 
3,514 posts, read 7,896,887 times
Reputation: 4415
Quote:
Originally Posted by MN-Born-n-Raised View Post

In our hood, I know of three places that are going to go on sale soon. You might want to get your ear on the ground or work with an agent that is a "player". In our neighborhood, there are two agents that get most of the listings. They know what is coming up. One sold across the street without an agent (a neighbor wanted to be on the course and they knew the sellers). Another one happened the same way a couple of months back. Those two had a total of ONE bidder.
This, look for the farmer in your desired area. They will often know of places that come up and the back story. In my 'hood we get quite a few that pop up and the sellers are adult children who live out of state. Just want to get rid of their parent's retirement home as cleanly as possible.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 09:23 PM
 
5,252 posts, read 3,267,844 times
Reputation: 4215
Quote:
Originally Posted by MN-Born-n-Raised View Post
We don't have to guess. Read https://www.azeconomy.org/2020/09/ec...-from-and-why/

"California Contributed by Far the Most Migrants to Arizona, ACS Five-Year Estimates (2014-2018),..."

As in, if you see a new person from out of state into the PHX area, they are 4x more likely from CA than the next state which is TX. Or looking at the data another way, CA has about the same total migrants as compared to the next 7 ranked states combined. See exhibit #2 in my supplied link.

So yea, many of the new people are coming from CA. It ain't close!

Still, many people leaving the Bay area are staying in CA. While CA has its problems, it is the crown jewel of the States. Kind of like Italy in Western Europe.
Yes, if you've got money Cal. is no doubt a great place to live esp. parts of Northern Cal. Unfortunately, the divide between the haves and have nots is so large even a family of four with an income of 150 grand will not get much past 1st base economically in the more popular areas.

But the Phx metro still needs more better paying jobs like:https://azbigmedia.com/business/inte...3000-new-jobs/

I think the future is good in AZ and I have recommended to my niece in Chicago to get over here. She's much smarter education wise than her dear uncle and comfortable working in the tech field. She'll have a place to place to stay until she finds a job and moves to where the younger crowd hangs out. (East Mesa is many things but hip isn't one of them.. at least not where I live.)

She's 26 and now is the time to make a move. Yes, Chicago is an interesting city but I'm sure Tempe and downtown Phx are "happening" as well.

Last edited by john3232; 03-24-2021 at 09:35 PM..
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-24-2021, 10:08 PM
 
474 posts, read 235,791 times
Reputation: 536
This was my first SFH in Phoenix. I bought in late 2010..paid 18,500. It sold early 2020 for 185k. Walkable to the five dollar prime rib special at Cheatahs Gentlemen's Club. But the main point, I would like to make is you first time buyers are cringing too much about small, fixer houses. It appears that most envision a brand new 2500 sf home in some kind of master planned community... It ain't gonna happen.
Attached Thumbnails
This housing market is unsustainable. Why? And when will things cool down again?-398538_348641105165645_2121058577_n.jpg  
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Arizona > Phoenix area
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top