Phoenix, the most unaffordable "affordable" place to live (Scottsdale: lender, buying)

[pbenjamin]

Originally Posted by Prickly Pear

Does a single income individual really need an entire SFH in PV Village? Those homes are built with two income or families in mind, not a single income software engineer. Grad student is also looking in a desirable area of Phoenix and always associated with upper middle class or even upper class (PV Village). There are plenty of nice and more affordable areas in the metro, but it's not Cave Creek or north Scottsdale or PV/PV Village. Places like more centralized areas of Phoenix, Moon Valley, Deer Valley, are all good areas of town as far as North Phoenix goes.


Outside of North Phoenix there are places in Chandler, Mesa, South Scottsdale, north Peoria/Glendale, Litchfield Park, Surprise, etc. that are more affordable than the PV Village of Phoenix.


My neighborhood is cheaper than PV Village (Biltmore/Uptown/North Central) but on average the houses are smaller and older. The ones that are comparable though to what's offered in PV Village are usually in the low mils (higher than PV village) and closer to Central avenue. Going a bit further east into Arcadia is obviously a different story though. You can still find deals closer to Indian School and Thomas east of where I am.

Gross generalizations about PV Village. It includes a variety of neighborhoods, ranging from the 95254 (Scottsdale mailing address, city of Phoenix) to the Greenway Square.

https://www.phoenix.gov/pddsite/Docu..._pdf_00131.pdf

[FirebirdCamaro1220]

Originally Posted by pbenjamin

Actually, Encanto-Palmcroft holds that title.

There are 7 figure homes in Encanto-Palmcroft? Since when?

My fiancee's boss lives in a home worth over $2million off of Jokakke and Lafayette, are there $2million plus homes in Encanto-Palmcroft?

[asufan]

Originally Posted by FirebirdCamaro1220

There are 7 figure homes in Encanto-Palmcroft? Since when?

My fiancee's boss lives in a home worth over $2million off of Jokakke and Lafayette, are there $2million plus homes in Encanto-Palmcroft?

I'm sure he's looking at median price per square foot, not sales prices. Encanto-Palmcroft being a historic district has much smaller homes and they can't be torn down and replaced with contemporary mansions like Arcadia. Smaller homes obviously sell for more per square foot as economies of scale comes into play. I agree that Arcadia is more expensive.

[DetroitN8V]

Originally Posted by FirebirdCamaro1220

There are 7 figure homes in Encanto-Palmcroft? Since when?

My fiancee's boss lives in a home worth over $2million off of Jokakke and Lafayette, are there $2million plus homes in Encanto-Palmcroft?

Originally Posted by asufan

I'm sure he's looking at median price per square foot, not sales prices. Encanto-Palmcroft being a historic district has much smaller homes and they can't be torn down and replaced with contemporary mansions like Arcadia. Smaller homes obviously sell for more per square foot as economies of scale comes into play. I agree that Arcadia is more expensive.

Encanto-Palmcroft has large homes and most trade for at least a million now, although they don’t sell often. Here’s an example of one that is probably on the smaller side compared to neighboring houses. It’s a gorgeous area, very old-money in feeling. It could easy be the flats of Beverly Hills.

https://www.redfin.com/AZ/Phoenix/22.../home/27508414

Here’s another recent sale:

https://www.redfin.com/AZ/Phoenix/11.../home/28170984

Take a stroll around: https://goo.gl/maps/2iSKkcNgDQLCszhS9

[FirebirdCamaro1220]

Originally Posted by DetroitN8V

Encanto-Palmcroft has large homes and most trade for at least a million now, although they don’t sell often. Here’s an example of one that is probably on the smaller side compared to neighboring houses. It’s a gorgeous area, very old-money in feeling. It could easy be the flats of Beverly Hills.

https://www.redfin.com/AZ/Phoenix/22.../home/27508414

Here’s another recent sale:

https://www.redfin.com/AZ/Phoenix/11.../home/28170984

Take a stroll around: https://goo.gl/maps/2iSKkcNgDQLCszhS9

I didn't say it's cheap, but the most expensive homes in the Phoenix city limits are still in Arcadia, especially the section in 85251 (east of Jokkake Rd)

[asufan]

Originally Posted by DetroitN8V

Encanto-Palmcroft has large homes and most trade for at least a million now, although they don’t sell often. Here’s an example of one that is probably on the smaller side compared to neighboring houses. It’s a gorgeous area, very old-money in feeling. It could easy be the flats of Beverly Hills.

https://www.redfin.com/AZ/Phoenix/22.../home/27508414

Here’s another recent sale:

https://www.redfin.com/AZ/Phoenix/11.../home/28170984

Take a stroll around: https://goo.gl/maps/2iSKkcNgDQLCszhS9

Right, I know all about the neighborhood. It still seems to have much more abundance of smaller homes as well though, so the $/sf would understandably be higher.

[DetroitN8V]

Originally Posted by FirebirdCamaro1220

I didn't say it's cheap, but the most expensive homes in the Phoenix city limits are still in Arcadia, especially the section in 85251 (east of Jokkake Rd)

I was more so responding to your question about there being 7-figure homes in Encanto-Palmcroft.

85251 is Scottsdale. Easy of Jokake is not within the Phoenix city limits.

[FirebirdCamaro1220]

Originally Posted by DetroitN8V

I was more so responding to your question about there being 7-figure homes in Encanto-Palmcroft.

85251 is Scottsdale. Easy of Jokake is not within the Phoenix city limits.

Uh, yes it is. It's a Scottdale Zip Code, but a portion of it IS in Phoenix city limits. The section that is north of Indian School and west of 64th St is in the city of Phoenix, despite being in a Scottsdale Zip Code.

My fiancee's bosses home is specifically near 62nd St and Lafayette, but it is in the city of Phoenix, despite being in a Scottsdale Zip Code

Similar situation is 85254. It is a Scottsdale Zip Code, but 90% of it is in the city of Phoenix

[DetroitN8V]

Originally Posted by FirebirdCamaro1220

Uh, yes it is. It's a Scottdale Zip Code, but a portion of it IS in Phoenix city limits. The section that is north of Indian School and west of 64th St is in the city of Phoenix, despite being in a Scottsdale Zip Code.

My fiancee's bosses home is specifically near 62nd St and Lafayette, but it is in the city of Phoenix, despite being in a Scottsdale Zip Code

Similar situation is 85254. It is a Scottsdale Zip Code, but 90% of it is in the city of Phoenix

You’re right. I think the dividing line is 64th St, so those between 64th St and Jokake have a Scottsdale mailing address, but Phoenix city services. I don’t really see the need to separate that tiny area and 85018 Arcadia in terms of pricing as they’re both sky-high and are essentially the same market.

[pbenjamin]

Originally Posted by FirebirdCamaro1220

There are 7 figure homes in Encanto-Palmcroft? Since when?

My fiancee's boss lives in a home worth over $2million off of Jokakke and Lafayette, are there $2million plus homes in Encanto-Palmcroft?

I was mistaken. I had seen an article that the highest per capita income in the city was in Encanto-Palmcroft, sorry.

But yes there have been 7 figure home sales in Encanto-Palmcroft.

June 2 1632 Palmcroft Dr SW $1,475,000
May 14 1603 Palmcroft Dr SE $1,000,000
March 30 2225 Encanto Dr NE $1,375,000
March 2 2050 N 11th Ave $1,250,000

In fact, there have been 7 figure home sales in Willo recently as well.

May 3 301 W Vernon Ave $1,125,000
April 12 90 W Virginia Ave $1,440,000
March 23 541 W Monte Vista Rd $1,200,000
December 16 95 W Cypress St $1,180,000