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Old 04-16-2009, 04:02 AM
 
173 posts, read 652,803 times
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Interest is low, want get a house, but don't lose too much money. I am trying to find out which areas are holding the value well. Thank you.
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Old 04-16-2009, 08:07 AM
 
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Quote:
Originally Posted by NiceJohn View Post
Interest is low, want get a house, but don't lose too much money. I am trying to find out which areas are holding the value well. Thank you.
Well, it is this way: every time things start to look up the government does something that scares people with some money to death and they decide not to buy. Buying a house is anyone's guess no matter where you buy. I would say the areas with the best schools are a priority. There are some lovely areas of Phoenix but they are islands surrounded by crime and grafitti...................
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Old 04-16-2009, 08:31 AM
 
Location: Mesa, Az
21,144 posts, read 41,945,077 times
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Quote:
Originally Posted by NiceJohn View Post
Interest is low, want get a house, but don't lose too much money. I am trying to find out which areas are holding the value well. Thank you.
Rule of thumb from what I have observed: those places where prices are near/at 1990's levels have bottomed out.

If anything: just talking with a lot of people in person; outside of N Scottsdale, etc.-------------I swear the market has bottomed out and is starting to ever so slightly appreciate. Nothing like 2003-05 but still.............
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Old 04-16-2009, 09:58 AM
 
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Anyone can point out specific areas? And which schools are the best in the Phoenix Metro? Thank you.
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Old 04-16-2009, 01:51 PM
 
Location: Living on the Coast in Oxnard CA
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Where can you find data on what the prices were like in 1990? I have read a report stating that most of the nation still has not declined to that point as of yet. Not saying that the Phoenix area has or hasn't, just wondering what were prices like back in 1990 for the valley. In the same report it stated that if we had continued on a normal inflationary track we as a nation are still over priced and have an additional decline to look forward to. Lucky us.
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Old 04-16-2009, 02:15 PM
 
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problem with national analysis is that it's just that - national

phoenix was hit earlier and more severely than the rest of the nation in general

here is one interesting source for data

Housing Market Reports

they list their methodology and also if you click on the most recent data you will then bring up an excel chart that will allow you to view the whole historical data that goes back to 1990

it tracks more percentage of change in resales with a fair amount of restrictions and it doesn't appear to account for inflation - so take it for what it's worth (some interesting info and one piece of the puzzle)
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Old 04-16-2009, 03:53 PM
 
Location: Phoenix, AZ
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All of the areas have seen a downward spiral but in gneral the central Phoenix corridor has fared much better than the Valley fringes.
If you're determined in to live out as far as possible, this wont be much help.
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Old 04-17-2009, 01:35 AM
 
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We like Kyrene school district for kids. I looked Kyrene school district. Housing prices are still high. It didn't drop much.
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Old 04-17-2009, 01:48 AM
 
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The Madison School District I hear is the best for the Phoenix Metro area. Of course, houses in this area are still high despite the drop in appreciation. It will probably always be high just because of the location.

If you want schools and affordable housing outside of Phoenix Metro, I haven't heard anything bad about Chandler or the Surprise areas, house wise or school wise. If I had to buy a house in AZ, I would probably look into the Surprise area myself since Scottsdale is out of our price range. If I had to buy a house in general while keeping schools in mind for our kids, I'd move out of state.
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Old 04-17-2009, 03:18 AM
 
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Originally Posted by NiceJohn View Post
We like Kyrene school district for kids. I looked Kyrene school district. Housing prices are still high. It didn't drop much.
I live in the Kyrene school district and my house lost considerable value but it's still priced high relative to other areas in the valley. My house price on Zillow has remained stable for the last 2 months. I don't know if that means anything though. Anyway, this is a very nice area and I highly recommend it.
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