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As someone looking to buy their first house in Phoenix, it startles me that you think Phoenix is cheap. I'm accustomed to the metro-Detroit housing market (whic
by apocalyptic0n3 11y ago
As someone looking to buy their first house in Phoenix, it startles me that you think Phoenix is cheap. I'm accustomed to the metro-Detroit housing market (which is doing far better than Detroit-proper and has mostly recovered from the recession) and the prices here are hard to see myself paying. A house I would have expected to pay ~$200k for is listed at $310k, as an example.
- notacoward 11y agoIt's all relative. Sure, Phoenix is expensive compared to Detroit, but that doesn't mean it can't also be cheap compared to Boston, Seattle, NYC, DC, or just about anywhere in California. http://www.kiplinger.com/tool/real-estate/T010-S003-home-prices-in-100-top-u-s-metro-areas/index.php http://www.kiplinger.com/tool/real-estate/T010-S003-home-pri...
- rconti 11y agoSorry, but that's cheap. $1400/mo (assuming 10% down) for a mortgage on an entire house? That's cheap. That's marginally above apartment pricing in even non-high-end areas.
- WildUtah 11y agoAnd that $310k house will cost $1200k in LA or $2100k in SF, but with less land.
- khedoros 11y agoFor $310k, I'd expect about a 1000 sqft 2 bedroom condo in my area. The smallest single family homes are about 1200 sqft for about $500k, located on a postage stamp of land.
- apocalyptic0n3 11y agoMy parents home is valued at $225k as of mid-last year. 1800 sq ft, 1.5 baths, 3 bedroom, hardwood floors throughout the first floor, finished basement, quarter acre of land, nice sized deck. driveway long enough for 3 vehicles, in a decent school system, and in a pretty good neighborhood. It's all relative, I know, but it's still shocking to see someone saying a $1400 mortgage on a house is cheap.