Interesting comments, Kevan. One fundamental problem with your assessment of the market, however. Can you tell me where interest rates will be in 6 months? Prices may very well trend downward through the remainder of the year and beyond, but that is not the only variable at play here. This is not the stock market. If interest rates continue to climb, your purchasing power has greatly diminished. While you may ultimately be proven right, to make the blanket statement that it will be a better time to buy in 6 months is simply foolhardy. All we can be sure of is that it is indeed a good time to buy right now if you are in the market for a home. On to the original question, the landfill you refer to is indeed the closed Skunk Creek Landfill. With the landfill no longer operating, there is a transfer station that was opened this year in the Dynamite Mountain area. Do some research on the North Gateway Transfer Station. It's basically open to the public (non-hazardous materials), and is entirely operated indoors. The waste is transfered via truck to a landfill outside of Phoenix city limits. There is a lot of construction going in along the I-17 corridor, if you are looking in that area, the are several factors of which to be aware (which should be noted in the Public Report that builders are madated to provide). In addition to the transfer station, there is a water treatment facility, an operating mine (you might hear an occasional BOOM), the Deer Valley Airport in relatively close proximity, and expansive soil conditions in some communities (I wouldn't contract with a builder in the area that doesn't utilize post-tension slab reinforcement. You would think that a buyer should run away from the area like their hair was on fire with a list like this, but after much investigation, none of my clients have been scared away by any of it.

What are your motivations for thinking about buying? If you need a home, you can find one that fits your needs, including price. If you want to invest, you can find property that will also meet your needs.

Sure, you can wait. This decision should be made on your position and what you need. Real estate professionals in this area are not in business to muscle you into doing something you don't want to do.

Kevan - Interesting response. Did you *read* my response to Eva? Did you bother to read the link I posted? In both I clearly stated that this may NOT be the best time for her to buy.
So please, try to lay off the "every single real estate agent will tell you" rhetoric.

Eva, the last person you should listen to right now about the housing market is a real estate agent. Remember, they get paid based on how much you buy your house for. The longer you wait in this TRUE buyers market, the more money you will save, which means less money in the agents pocket. Every single real estate agent will tell you now is a good time to buy, people buying houses is the difference between them eating steak and lobster or ramen and eggs.

Give the market another 6 months to a year if you can. You'll save money in your purchase price and have more time to sock away savings for a down payment!

Here's the link to the City of Phoenix's website about the Skunk Creek landfill, which closed at the end of 2006. As Jay mentioned (as I was looking up the same numbers, incidentally) there's a wide variety of housing available in 85027 as well as different school districts in play. If you can provide some more specifics of what is most important to you in an area, it might make it easier to answer your questions about the area.

Eva - Tough question to answer... Most of the Phoenix market is in what is technically called a "buyer's market". That's mainly because of a whole lot of homes being listed for sale. Mortgage rates are also near historical lows. Both of those bode well for it being a good time to buy.
But the complete answer depends on your personal situation. It may just be the best time of your life to buy. But it may not.
In the 85027 zip code, there are currently 312 properties listed for sale. That's quite a lot to chose from. They range from a 600 square foot, 1 bedroom condo for $77,000 to a 4 bedroom, 3 bath 4,200 square foot home for $699,900 -- and just about anything in between. See the link below for a recent blog post I did on the "Phoenix Buyer's Market".
I'm not familiar with the landfill, but it's probably the City of Phoenix Skunk Creek Landfill. You can call them at 602-262-7109.