Thanks Brad!

Yes, I am working with a realtor and using comps off the MLS. There are just not enough comps to make a solid decision. Advice from people with experience working in this market and in Queen Creek would be fantastic. To Brad's point, "In my opinion, prices still need to drop quite a bit." So, if your not getting a "killer deal" in Queen Creek right now, is it best to just wait the market out a bit longer and keep looking?

Are there any suggestions on ways to get a seller that wants to hold onto their higher price to come down in line with the list prices on short sales and foreclosures if there aren't enough comps to compare to?

Thanks!

Gina - are you working with an agent? Hopefully your comparable sales stats are coming from the Arizona Regional Multiple Listing Service and not public websites. ARMLS will give you the true stats.

Without seeing the property or the comparable sales ... it's tough. But, did the other sales have something great that made them sell for more? Something that took the value down? Of course, larger homes/larger lots/estate lots can be tricky because there are fewer out there to do comparable stats on ...

Overpaying is the consistent question buyers face in this market. In my opinion, prices still need to drop quite a bit. Areas like south Gilbert and Queen Creek or even more volatile because of the distance from freeways, shopping, entertainment and employment centers. However, custom homes aren't a dime a dozen like most homes on the market so their value may hold a little better.

Good luck!