Quote:
Originally Posted by lazycash
The time your house went up from 2002, the Phoenix metro area experienced a huge population boom creating some supply and demand factors that when coupled with the newer lenient loan requirements created a huge supply of new home builds and drove up values until the supply outweighed the demand and the economy tanked.
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There are still no bargains to be had in Phoenix/Scottsdale. They're only bargains if you're comparing the price to what the house sold for in 2006. My biz partner and I have been looking for a year for a nice home with some privacy for a shooting house and a US base of operations in the 500K price range. I search the MLS listings regularly and house prices are still too high for what you get. Ugly brown tract homes from 350-500K. There are lots of nicer homes available but they're 800K and up and the banks aren't dumping them for 500K unless you are paying cash.
California and Texas - better deals there.