There was one line in yesterday’s Winnipeg Free Press article that’s worth a slightly longer look (but not too long because I have homes to show in a few minutes:)
To illustrate the kind of deals that are available, Olson cited the case of a newer bungalow in the nearby city of Maricopa that sold for $242,927 in April 2006 is now listed for $134,900. And a two-storey home in the Phoenix suburb of Ahwatukee that sold for $450,000 in May, 2006 was recently listed for $254,900.
If you don’t speak Albertan, a bungalow is a single-story home. Or single-storey. Take your pick on the spelling.
There’s a reason that homes in Maricopa are available in the $130s and homes in Queen Creek are now approaching the $100,000 mark. The jobs aren’t in those communities. They’re in the main portion of the Valley.
Get a hold of a good map – you even can use the absorption rate maps I run every Tuesday and zoom (click the Phoenix Real Estate Inventory Category at the right) – and gauge how far the property you’re looking to buy is from the rest of the Valley – Chandler, Mesa and Gilbert if you’re looking at Maricopa or Queen Creek.
If you’re looking for a vacation home, commute times may not matter. If you’re looking for an investment you can rent, or one that will appreciate (which requires increased demand in an area), they almost certainly will play a role in your property’s price.
[tags]Canadian investors Arizona real estate, Phoenix real estate[/tags]