questions about the best Phoenix neighborhoods for real estate speculation
Doctor Dichoso
also as a speculative investment. I'm still single right now so the
size of the house is not personally very important, nor is school
quality, though the bigger the lot the better because I enjoy my
privacy and not hearing my neighbors' kids and stereos. I just moved
here and live in a small apartment right now as I save up for the
down-payment. I commute to the north end of downtown, and don't mine a
long commute too much.
What I want to avoid is buying a 300K house now and in 5 years have it
be worth 350K while other 300K houses in other neigborhoods go up to
400K or more. I want to be the lucky person who bought into a
neighborhood right before it became the hot place to live.
Do luxury townhouses (like the type common in Scottsdale) in my price
range appreciate as well as comparable single family homes? My gut
says no, but that might be a personal bias because where I come from
there is no such thing as an expensive townhouse
What are the up and coming suburbs? Asking this question to a friend,
he suggested I get a new house around South Mountain, he said it is
convenient to downtown, but many people don't want to live near the
poor Mexican neighborhoods in south Phoenix so they don't consider it,
but once it's discovered there could be a lot of appreciation.
I also noticed that by the SF North Central PHX and downtown
scottsdale are the most expensive places to live. Does anyone think
that the typical 2000sf, 400K house in these areas could appreciate
much more considering they are already so much more expensive than
comparable houses elsewhere? I like both of these neighborhoods.
Final stupid question: I don't play golf or have any desire to join a
country club, but I like think the views of houses overlooking golf
courses are very pretty, and might do very well as an investment since
the golf course prevents additional developments behind the house.
What is the deal with these? Would I be virtually the only person in
the neighborhood who isn't a member of the country club? Is there a
big membership discount if you live along the course?
James J. Lippard
> I want to buy a 300-500K house in the Phoenix area to live in, but
> also as a speculative investment. I'm still single right now so the
> size of the house is not personally very important, nor is school
> quality, though the bigger the lot the better because I enjoy my
> privacy and not hearing my neighbors' kids and stereos. I just moved
> here and live in a small apartment right now as I save up for the
> down-payment. I commute to the north end of downtown, and don't mine a
> long commute too much.
>
> What I want to avoid is buying a 300K house now and in 5 years have it
> be worth 350K while other 300K houses in other neigborhoods go up to
> 400K or more. I want to be the lucky person who bought into a
> neighborhood right before it became the hot place to live.
>
> Do luxury townhouses (like the type common in Scottsdale) in my price
> range appreciate as well as comparable single family homes? My gut
> says no, but that might be a personal bias because where I come from
> there is no such thing as an expensive townhouse
No.
> What are the up and coming suburbs? Asking this question to a friend,
> he suggested I get a new house around South Mountain, he said it is
> convenient to downtown, but many people don't want to live near the
> poor Mexican neighborhoods in south Phoenix so they don't consider it,
> but once it's discovered there could be a lot of appreciation.
It's been discovered. Prices have gone up considerably since last
year. There are a lot more $400K houses in the area than there used
to be, and there are $800K+ homes in some places (e.g., south of
Baseline around 40th St, right up against the mountain preserve).
> I also noticed that by the SF North Central PHX and downtown
> scottsdale are the most expensive places to live. Does anyone think
> that the typical 2000sf, 400K house in these areas could appreciate
> much more considering they are already so much more expensive than
> comparable houses elsewhere? I like both of these neighborhoods.
Houses in North Central Phoenix that went for $200K about 10 years
ago are easily double that today.
> Final stupid question: I don't play golf or have any desire to join a
> country club, but I like think the views of houses overlooking golf
> courses are very pretty, and might do very well as an investment since
> the golf course prevents additional developments behind the house.
> What is the deal with these? Would I be virtually the only person in
> the neighborhood who isn't a member of the country club? Is there a
> big membership discount if you live along the course?
Don't know, but I'd be surprised if we don't see a real estate bubble pop
in the next year or two.
There are a lot of foreclosures being auctioned these days on the county
courthouse steps... it also seems that a huge number of homes in new developments
are being bought by speculators and put up for rent.
I'd recommend looking into the foreclosures for investment properties,
or buying the first home in a new development and flipping it
immediately before the bubble pops.
--
Jim Lippard lippard...@discord.org http://www.discord.org/
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