Phoenix real estate o0

[Fez Hammersticks]

It sounds like the Detroit of the South West!

Overbuilding during the housing boom, record foreclosures during the subsequent crash and a significant drop in population growth have led to more than 100,000 vacant homes across the region, five times what was once considered normal.

With an average of three people per residence, the swath of vacant homes is equivalent to a city bigger than Chandler sitting empty.

The home, which sold for $500,000 in 2005, was designed by renowned Valley architect Ralph Haver. It has a 1,000-square-foot living room, slate floors and a guesthouse. It had a kitchen with stainless-steel cabinets and a towering limestone backsplash. The home's last owners gave it back to the lender in July. Since then, many of its unique fixtures, including its kitchen cabinets, have been stolen.

A couple bought the three-bedroom beige stucco home from a builder in 2005 for $220,000 and lost it to foreclosure late last year. The home isn't currently listed for sale. But the house next to it is larger, a four-bedroom, and is listed for a $60,000 short sale.

LINK​

 

[BLAZER PROPHET]

THIS is the time to invest in houses as rentals.

 

[EL PRESIDENTE]

Tract housing in the desert is not selling when the economy is bad? shocked!

 

[Fez Hammersticks]

I'm in Phoenix for a wedding this weekend and the article wasn't exaggerating. I saw a neighborhood with for-sale signs in almost every yard.

Oh, and downtown PHX is the most underdeveloped downtown I've been to. I feels as if you stepped back into 1988 here.

 

[MickZagger]

I'd live in a Phoenix tract house as long as it has a swimming pool.

 

[EL PRESIDENTE]

doesn't phoenix/scottsdale have dope bitches though

 

[Fez Hammersticks]

doesn't phoenix/scottsdale have dope bitches though

I've heard Scottsdale does, aka Snobsdale.

 

[3RA1N1AC]

my first day in arizona it snowed

 

[MickZagger]

my first day in arizona it snowed

You were in Flagstaff?

 

[andalusian]

My first time in Arizona was in Tuscon - and it was snowing!

 

[Fez Hammersticks]

Paradise Valley is nice. Very nice. A lot of NBA players live in this little community.

 

[3RA1N1AC]

You were in Flagstaff?

no.

 

[MickZagger]

yer ghey mmmkay....

 

[Fez Hammersticks]

I know what this city reminds me of! It's like a big Lloyd District mixed with Woodburn, Oregon (if you've been there you know what I'm talking about)

 

[3RA1N1AC]

soo because im not in flagstaff im ghey...are you in flagstaff?

 

[3RA1N1AC]

it was nice, i met a chick with makeup tattoos