2010’s Best Places to Buy a Home in Arizona
Buy a Home in Arizona has been getting a lot of press lately, with 1 in 4 homes sold in the last year being in some form of distress. The bad economy is causing problems for everyone, but there are some signs that are popping up that might indicate a light change in the market.
2010 definitely was not the best year for home sales and prices. However, there are some villages and towns in Arizona where 2010 really became the best year for homes.
Located in Arizona’sSan Tan Ranch Metropolitan Area, Yavapai was one of the hardest hit areas. Despite battling several natural disasters over the last year and a half, the town of Yavapai still managed to have homes sold for an average ofcol apiece. After having an average of 104 homes available at any time, the number went down to 59 in 2011, and that is just the tip of the iceberg.
The reason for the small amount of available homes on the market in Yavapai is that it is a traditionally farming location, with just over 2,000 residents. Strict zoning uses and the fact that it is north of Prescott National Forest make this an unattractive buying spot.
convincing farmers to sell their land was an excellent solution for Yavapai. They are accustomed to the harsh winters, but the strikes (or bus rides down, depending on your route) to nearby Prescott National Forest was not what a lot of people were used to. Fortunately, the housing market in this area has been very stagnant for many years, so the knowledge that there are many available homes at low prices just doesn’t mean much to anyone.
Also known as the ” Ely Valley of the Apaches,” the town ofnel bear peninsula, which is located in middle of Scottsdale, is the best example of a small town in the Phoenix metropolitan area. At 2,000 people in population, the town has nearly 100 homes available in any given time.
Most of the homes available are FSBOs or real estate owned (REO) homes. In fact, RREO sales made up 46% of all home sales in this area in 2010. This is due to the high demise rate of RREO properties-simply because most don’t sell at all.
With the new-age amenities and low travel stresses, it is difficult to think of going to HELOC lenders to talk about a home in this part of Arizona. This is because the unique location is hard to find without some sort of Google search.
Also just north of Scottsdale is the town of Casa Grande. Called the ” staggering grassy pit” by the local papers, the community of Casa Grande still has all the fixings you’d find in a small town. With just over 2,000 people in this town of about 19,000, this is one of the more stable housing markets in the area.
That may be because the average home only costs over $175,000, and there are enough second home buyers that will cover the luxury home market as well.verse rural
Any one of the several small towns north of Prescott (Hale, Greenite, Orkin, errors and omissions) would be a good place to buy a home, as the vast majority of people who now own homes in Prescott have done so before 2002. Also, the fact that Prescott was voted as the best small city in the nation in 2008 and has one of the lowest foreclosure rates in the state means there are still plenty of potential homeowners in the area.
So from an investment standpoint, Arizona is still a good state to buy sales in, but only in the right location. There are also good towns where people still want to own their own home, though it will be a little harder to choose from for the astute buyer.