JacqJolie
Recycles dryer sheets
- Joined
- May 11, 2009
- Messages
- 159
I'm considering purchasing a home in the Phoenix, AZ area in the next year. I would be purchasing the home outright for cash. I'm a Canadian citizen and would be only using the property on a snowbird basis. I'd like to keep the purchase price just under $100k and it seems like there are a lot of properties online in this price range.
I'm kind of planning on keeping the house for a number of years until prices go up and then selling, but am not opposed to keeping it as a residence for quite some time if prices don't recover. I'm also planning on selling my current home in six months and would ideally like to start looking after this house is sold, but I could carry both properties simultaneously without a problem. Our housing market is still going strong so I'm not worried about the sale of it.
I know that nobody has a crystal ball, but is this an opportunity for lower prices that I should probably move on sooner rather than later? Or is there some quirk to the housing market and short sales and foreclosures down there that I'm not considering (ie. prices appear lower than they really sell for, getting competing bids or the banks taking a long time to close a deal).
If this has already been discussed (and I'm sure it has), can somebody point me to the thread? I did a search and couldn't come up with anything. Thanks so much for the help!
I'm kind of planning on keeping the house for a number of years until prices go up and then selling, but am not opposed to keeping it as a residence for quite some time if prices don't recover. I'm also planning on selling my current home in six months and would ideally like to start looking after this house is sold, but I could carry both properties simultaneously without a problem. Our housing market is still going strong so I'm not worried about the sale of it.
I know that nobody has a crystal ball, but is this an opportunity for lower prices that I should probably move on sooner rather than later? Or is there some quirk to the housing market and short sales and foreclosures down there that I'm not considering (ie. prices appear lower than they really sell for, getting competing bids or the banks taking a long time to close a deal).
If this has already been discussed (and I'm sure it has), can somebody point me to the thread? I did a search and couldn't come up with anything. Thanks so much for the help!