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TidalWave 05-15-2010 06:59 PM

Phoenix Housing Market?
 
opinions on houses and real estate in Phoenix area?
how many people are renting? how quickly are things renting?

lots of people buying houses?

JaneB 05-15-2010 07:32 PM

Yes there are people buying houses, you can get some great deals right now. The rentals would depend on the area. I know in Tempe houses are rented fast, but we also have the university here.

Nikki_Licks 05-15-2010 07:54 PM

I heard on the news that rentals are getting real hard to find as most people that lost their homes ended up renting a home.
And if you rent, you better hope the landlord is not in foreclosure and takes your money...lots of scams going on too :2 cents:

There are plenty of homes up for sale. In our neighborhood (subdivision area), last count......there are around 13 homes sitting empty. There use to be something like 17 but some sold.

It's a buyers market :thumbsup

TheDoc 05-15-2010 08:09 PM

I wouldn't really call it a market... it's more buyers choice, just select a house and name your price.

fatfoo 05-16-2010 12:20 AM

A successful market sells many different kind of thing. Good luck.

Nikki_Licks 05-17-2010 06:23 AM

Quote:

Originally Posted by TheDoc (Post 17144128)
I wouldn't really call it a market... it's more buyers choice, just select a house and name your price.

I called it a buyers market because there are so many homes available to bid on that are dirt cheap and as you mentioned, you can just about name your price. Most can't be sold due to the previous owners stripping the house.

I would assume you could buy a home stripped if you are paying cash and possibly signed some sort of release. I don't know how the law reads or if the banks would allow a person to purchase a non livable home. I was always under the impression that if the home is not livable, meaning ready to move in, then the bank has to make necessary repairs and then it can go on the market....not sure....:helpme

LoveSandra 05-17-2010 06:59 AM

good luck

Mutt 05-17-2010 07:38 AM

see this house in the header of this site? http://www.arizonalodgingexperts.com

we rented that house 2 years ago to shoot a solo site model in for a week, it's a gorgeous home, i think it was between 2 and 3 million at the time.

it sold for 1.2M and now I heard it sold again - for 800K!!!

Mr Happy 05-17-2010 10:42 AM

It is about to drop another 25% in AZ

TheDoc 05-17-2010 10:49 AM

Quote:

Originally Posted by Mr Happy (Post 17147460)
It is about to drop another 25% in AZ

Yep, lots of people upside down are just walking away....a house is an investment, if you're investment is bad you cut your losses. The market balances out here fast, tons of people willing to snatch up those cheap homes.

heymatty 05-17-2010 01:42 PM

Yes looks like it was a false bottom. Going down again soon.


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