Buckeye neighborhoods?

[Ponderosa]

Originally Posted by WI2AZ

Thanks Finger Laker - I think you're right. It seems to depend on who the realtor and the bank are. I know our home we live in now was a foreclosure. It sat empty for about 8 months. They were asking WAY more than what it was worth and it needed a ton of attention. We put in a low ball offer "just to see". Took them over 2 weeks to get back to us, but they accepted the offer and it was smooth sailing then.
I guess I didn't know if it was a completely different game out there as opposed to the rest of the US. Thanks!!

There is a good deal of investor interest in foreclosures in the PHX market. They are using cash, so banks accept their offers preferentially.

[Ritchie_az]

What I mean, WI2AZ, is less than six months ago I was also trying to purchase in Buckeye (mostly Sundance). First, short sales are not really worth your time and effort unless you have A LOT of time and effort to give. Second, the foreclosed homes are getting (or were getting, probably still are) multiple offers (think 10 or more), and the banks that own the homes were/are selecting cash offers usually 10-20k above the asking price. If you don't have cash, it'll be hard to get the bank that owns the home to pick your offer over someone else's cash offer. Third, the seller-owned homes are listed at prices too high for your bank to approve it (with 50% cash, maybe they will). But your home will drop in value (near the price of the foreclosed homes) the second your loan funds. So that may not be the best idea.
I'm not trying to say it will be impossible to purchase in Buckeye (specifically Sundance), but there are so many investment buyers, if you don't have cash, it will be harder than you likely want it to be.
In contrast, the home I purchased in Estrella I paid the asking price (but had the seller pay the closing costs). It had two offers (the other was for less than the asking price, so my offer was accepted). It was the only home (aside from those in Buckeye) that I put an offer on. And I like the location much better.
Now this is just my experience, so take it for what it's worth. But I hope it helps you some.

[WI2AZ]

Ok Ritchie, that totally makes more sense! I was just not at all catching where you were going with that. I have heard different things from different realtors (one who told me that me having cash with totally help and one that told me that it made no difference - and many other things). I'm sure they both were just telling me what I wanted to hear which is why your actual experience totally helps.

Is this real estate craziness much worse in Buckeye as opposed to say Goodyear? Mostly due to there being so many more out there?

[intmd8r]

I would also suggest looking in Goodyear in addition to Buckeye. There are so many great communities and amenities there now that the location is very desirable, especially if you're going to be working in Avondale.

As for Sundance, we had a friend who lived in there and we found the area to be not to our liking, personally. The neighborhoods seemed to be going downhill very quickly and getting in and out was definitely an issue. And it's true what's being said about the "deals" to be had there. There are so many offers on each house and it's mostly investors who are paying cash and plan rent the house out. The cash offers will be accepted over those needing financing every time. And it's also true that the houses are selling for over the asking price, so what you see is deceiving; you likely will not be able to get a house for what it's going for.

We lived in Estrella for 5 years and Palm Valley for 3 1/2 years and loved them both! Estrella is pretty much second to none for beauty and Palm Valley is close to everything in Goodyear, for the most part. I would live in either of them again in a heartbeat! That being said, there are many other neighborhoods as well that are fabulous (Canyon Trails, Wildflower Ranch, etc).

Good luck on the job and moving!

[WI2AZ]

Oh wow! Thank you for suggesting those other neighborhoods. I just looked up a few in the Canyon Trails area and they do seem much nicer than what's in Sundance. That and the entire city of Goodyear seems to totally beat Buckeye.
So do you think we'd have a much easier time buying in these subdivisions then? Are these spots not nearly as investor happy?

It's going to be a fun night on the computer tonight! =)

[geisel68]

Yes, right around the area of Canyon Trails is very, very nice, lots of new stores and developmente around, nice area

[grippit]

Zip 85338 (Goodyear south of I-10) for 4th quarter 2009 shows homes selling for 99.1% of list price. Average price was $142.8, selling in 46 days on average. Buckeye south of I-10 (85326)was 100.6%, $97.9k and 56 days. Investors are active in both areas.

Figure +/- $150.00 month for property taxes in Goodyear @ average price. Less in Buckeye.Should be coming down as new valuations figure in.

Ditto Ponderosa's comments on Sundance. I think West Park is better although not as convenient at this point.

Avondale has some nice neighborhoods as well.

Best wishes.