There's probably more foreclosures in AZ than there is water. Not sure which will be depeleted first.

Thu May 15 2008, 16:30

Hi Frances. I currently live in Queen Creek and have been living there since 2/2002. There's been a tremendous amount of development over the years. Currently the challenge is commuting during rush hour. There are actually 3-4 ways to commute from Queen Creek depending on where you need to go. Ironwood is a great 4 lane highway-like passage. There are only a few lights on the extreme southern end of the road that once you get past these you can easily travel at freeway speeds, and it takes you directly to US 60 highway, which is a major east/west route through the city.
The area was hard-hit by foreclosure, that's why prices are so low. I just recently listed my home, which is 2445SF, 4 bedroom, 2.5 baths, 3-car garage and gated RV parking on the golfcourse for $189,000.00. In a "normal" market it would probably sell for $230k - $250K. I'm lucky that I'm not in a foreclosure situation, and because I bought so many years ago and was able to put down a large down payment, I can afford to sell my house at a competitive price.

Thu May 15 2008, 15:22

I lived in Queen creek before I had to leave because my husband is going to school out of state. I absoultely loved it. I don't like larege cities so it was perfect for us. Whoever said the gas was more expensive is not correct. There is one gas station that really over prices and it situated where it seems to the be the only gas station so first timers buy their gas without knowing their cheaper gas 2 miles away. In many cases the gas station at the corner of my development was LOWER than gas in Mesa or Phoenix. Secondly, hwys are on their way.They will take some time but if you buy a home there and stay for a while you will see the benefits later of a cheap home with an easier commute. Also, Gilbert is running into Queen Creek and in a few years QC will be the new Gilbert. But it all takes time but you could be one of those people who bought when it was dirt cheap and then have the luxury of selling your home for bundles when things turn around and the city progesses more. And if the commute worries you, get a job locally at one of the local new stores! With such low mortgages you can afford it! lol

Thu Apr 24 2008, 08:13

On my blog, I recently wrote 3 articles about the condition and price of about 150 of the best priced 3 and 4 bedrooms homes in Queen Creek. You can check out the articles here:

http://www.realphoenixliving.com/2008/04/11/queen-creek-mark…
http://www.realphoenixliving.com/2008/04/14/queen-creek-fore…
http://www.realphoenixliving.com/2008/04/19/new-field-needed…

Nearly everything we looked at was bank owned. I didn't really bother looking at short sales, because there's only a 25-50% chance of a successful sale these days, and that risk wasn't worth the price to my client.

Wed Apr 23 2008, 20:08

I'm working with a client now that is trying to purchase there because of the low prices. As others said, the low pricing is mainly due to all the short sales and REOs in the area. My client works in Scottsdale, but only 3 days a week (long shifts), so thinks he can handle the long commute for those few days. Trying to get one of the low priced REOs is tough due to the multiple offers they get. One we liked got 20 in 3 days. Now working on a short sale bid that looks promising. As Jay said, you got to be careful with these, or you will be disappointed.

Wed Apr 23 2008, 19:08

Hi Frances,
I live in Queen Creek (Maricopa County) and I love it, just as Jay said, it is a long commute into Phoenix. There are several new shoppings centers that have recently opened, that will create more jobs locally- you can get a great deal on a home- REO or new construction.

Wed Apr 23 2008, 17:24

The catch is that Queen Creek is far, far away. There's little infrastructure (only one road in and one road out for the most part). Lots and lots of foreclosures as well. There are no employment centers or highways nearby. If a person worked in Phoenix or Scottsdale then they could expect anywhere from a 45 minute to 1.5 hour drive to get into Phoenix depending on where in QC they lived.

Queen Creek does offer attractive pricing but it comes at a huge lifestyle cost. And with gas prices nearing $4 a gallon ... it pays to live closer even if the mortgage is higher ... unless, of course, you are blessed with a home-based career or simply want to live away from it all!

Wed Apr 23 2008, 17:22

It lies realtively far outside the Phoenix area. It can be a lengthy commute into Phoenix metro.

In addition, a lot of those fantastic prices you may be seeing are short sales and foreclosures.

The appreciation run up in Queen Creek was significant, and the downslide has hit that area hardest (well, all outlying areas really. Maricopa (the town, not the country, was also hit hard).

There are some great buying opportunities there. The area is developing as far as services and infrastructure. There are not many jobs in the immediate area, hence the commute for many residents.

But be cautious of unrealistically priced short sales.

Wed Apr 23 2008, 17:20