Moving in Maricopa>Question Details

Vmenke, Home Buyer in Maricopa, AZ

My family and I are looking to move to Maricopa, AZ but we have noticed that there are very nice houses listed at very low prices, we were wondering

Asked by Vmenke, Maricopa, AZ Tue Dec 14, 2010

why, and what is a good location for a family to live in AZ??

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Matt Puzz’s answer
Great answers by both Greg and Carlos. If you are looking for financing I can help you with that; there are many programs to choose from. As for looking for a home, I have the Home Buyers Scouting Report and that will allow you to look for your home in privacy without the spam and pop ups. If you want to sign up for it for free let me know and I will send you the link. It is a great tool that allows you to see what is available for sale out there.

Matt Puzz
Licensed Loan Originator
Amerifirst Financial, Inc.
602-410-9333
apply online: http://www.mattpuzz.com
Web Reference: http://www.mattpuzz.com
1 vote Thank Flag Link Tue Dec 14, 2010
Maricopa grew too fast too quickly, creating a huge supply of properties - that coupled with the housing crisis created the very low prices you see.

The ideal place for you and your family will depend on what you are looking for and your budget. Some people with higher budgets will choose Scottsdale, others might prefer Tempe for it closeness to ASU, other might like Chandler and Gilbert as a good balance of good prices and nice location, others will prefer Maricopa where they can get a bigger property for a really low price.

It will all depend on your budget and what you are looking for.

Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
http://www.SmartAZRealty.com
1 vote Thank Flag Link Tue Dec 14, 2010
Maricopa is the Best Place for Homeownership in Arizona, according to a study conducted by NerdWallet. Here's your answer by an impartial independent survey. Here's the link: http://www.inmaricopa.com/Article/2014/06/05/maricopa-best-p…
0 votes Thank Flag Link Wed Jul 2, 2014
I moved to Maricopa Az from Columbus ohio about 3 years ago. I love it here and would not go back. Maricopa is the best place in arizona to live
0 votes Thank Flag Link Fri Apr 18, 2014
One of my clients is selling their 2900 home in Chandler and moving to Province in Maricopa! They love it there also.
Flag Sat Apr 26, 2014
Your question was asked on Trulia some time ago, have you been able to resolve your situation and meet your goals?

Would you like professional representation in the Arizona Real Estate market?

How could I help you?

Doug McVinua

HomeSmart Real Estate

Arizona Homes for Sale by a Guy from Iowa

http://www.McVinua.com

Doug@McVinua.com

Direct 602-751-7577
Web Reference: http://www.McVinua.com
0 votes Thank Flag Link Mon Jan 3, 2011
Maricopa has grown a lot in recent years. About 90% of the homes in Maricopa were built after 2002 with the majority of them built in the boom years from 2004 to 2006. That is the reason why so many homes are for sale in Maricopa. The homeowners who bought during the boom years are now under water with their mortgages and the many foreclosures pull down the values.
In past years buyers from other States moved ot Arizona and that brought us nice appreciation rates in real estate. Those days will come back. For now we have to deal with an oversupply before the values can go up again.
When potential home buyers talk about Maricopa, they are usually impressed by the great opportunities in our real estate market. However, Maricopa as a town has a lot to offer if you are looking for a young town with some Old West Country flavor in close proximity to the Metro Phoenix area. In addition to beautiful homes at incredibly low prices, we have restaurants, stores and many businesses that provide services to residents and the commutes to Chandler and Tempe are very reasonable.
I'm a Maricopa Realtor and I think that Maricopa homes are also great investments, since our rents typically cover all expenses. That shows you that people do enjoy living in Maricopa and because of the fact that homes are so undervalued right now, Maricopa properties will see great appreciation rates once the market turns.
0 votes Thank Flag Link Sun Jan 2, 2011
Because Maricopa is located further out from Phoenix, it does require a 30 minute or so drive. When the market fell, the areas that grew the fastest, fell the hardest and there was a time Maricopa was the fast growing city in the nation. You are right, most of the houses are nice and, in the new home developments, not older than 9 years. Because Maricopa housing is such a great bargain, we are getting more buyers for winter/second homes, as well as investors taking advantage of the market. Maricopa does have a lot to offer, I know, I live here and have been specializing in Maricopa real estate since 1999 and listing and selling REO properties since 2002. The right area for you depends on several factors and I would be happy to help you determine if Maricopa is the right fit. Either way, you will want to get pre-qualified with a lender, if needed, and work with a knowledgeable agent. If you have any other questions, please feel free to call me through the main number, 480-722-9800.
0 votes Thank Flag Link Tue Dec 14, 2010
The answers you got are quite accurate. I just wanted to add that for the money Maricopa is an excellent place to buy and it is a great place to live. You can get more house value and for the the money when compared to other Central AZ homes located near Greater Phoenix employment . Maricopa and Casa Grande are two of the favorite choice for my Canadian buyer looking for a vacation home, since driving to work is not an issue..

Concerning your question about other areas to live for families, I would like to get in to more details as to your needs in order to recommend other areas for you to consider. Feel free to call.
Loren
623-239-6919
0 votes Thank Flag Link Tue Dec 14, 2010
Some of the list prices are less than 100% accurate because they are NON approved short sale prices; there is no guarantee that Banks involved with those short sales will ever approve the published 'list' prices. Make sure you work with a knowledgeable agent who can point out the different approved / non approved list prices. My listings on Truilia are all approved pricing / non short sale listings, and we have a wonderful home for sale now in Maricopa you can also see on Trulia.
0 votes Thank Flag Link Tue Dec 14, 2010
All good answers. There is a lot of inventory available in Maricopa, especially short sales. Because of the volume of houses, sometimes agents reduce the price under market value to get people interested and submit an offer before the property is sold at trustee sale. That doesn't mean the lender will accept that low offer. You need to work with a Realtor ® that knows the area and the comps to submit an offer that the lender will accept. You will not get a $100K listing for $50K no matter what the infomercials tell you! But you might get it for the low $90's if the comps support the price. It isn't in your best interest to waste your time in submitting an offer that is declined.
Personally, I love Maricopa - my family has been here for over 30 years. It has a few growing pains...but it's a great community!
Bea Lueck
0 votes Thank Flag Link Tue Dec 14, 2010
Dear Vmenke:

Good observation. The homes are newer. During the last building boom time this area was in development. The area is outside of the central commute permeter that most people are comfortable with. If a person works from home, though this makes the area a good buy.

It all depends what you are looking for. If one works in Chandler or Tempe it is not as long as a commute as going into Phoenix. Other similar areas with the long commute in SE Phoenix metro are Queen Creek and San Tan Valley. There are also other similar cities on the Western Phoenix metro perimeter like Surprise, Litchfield Park, Buckeye etc.

To get an idea of what these communiities are like, feel free to ask or try the online relocation guide at http://ArizonaHomesLand.com

Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Realty
Web Reference: http://ArizonaHomesLand.com
0 votes Thank Flag Link Tue Dec 14, 2010
Hello Vmenke. An excellent question!

During the housing 'boom' of 2004-2006, a typical two-story, 3500+ sq/ft home in Maricopa sold for anywhere from $295,000 to $400,000, depending on the upgrades and if you had a pool.

NOW, that same home sells for around $30 per sq/ft, or $100,000.

What happened?

Well...the housing 'bubble' burst, the economy hit the wall, property values plummetted throughout the country, and Maricopa was hit with THOUSANDS of foreclosures and short sales. Property values have fallen dramatically, and everyone who purchased during that time period is now underwater on their mortgage, and must make the decision to either wait it out for property values to go back up, OR walk away. If they cannot make their payment, they'll likely attempt a short sale OR let the bank take the home back at foreclosure.

During this period, the builders in Maricopa (there were MANY), built thousands and thousands of homes in some very nice subdivisions. New schools were built, as were a few businesses. Prices increased week over week, month over month, and the people kept buying and builders kept building. Homes were gaining equity overnight it seemed, and no one thought it would ever end, but it did, with property values declining almost as quickly as they went up.

There isn't much infrastructure in Maricopa; a few grocery storers, some restaurants...that's it. Everyone who lives there typically works in Phoenix and makes the long commute every day to and from Maricopa. There is really only one 4-lane freeway to get into the Valley, and it's about 20 miles one way. During the morning rush hour, and in the evening, it can get pretty backed up with traffic, and if there's an accident, look out. You're stuck.

This eventually caught up with the area, and combine that with the struggling housing industry and job loss, it was the perfect storm. There have been so many foreclosures and short sales in Maricopa that it's difficult to keep track. Right now, a lot of investors are buying up property at pennies on the dollar and turning them into rentals. It's not a bad idea, but there are better areas to look at for investing in property right now.

When will property values come back in Maricopa? Who knows, but one thing I can say for sure is that it will be a long time.

I would highly recommend looking for a home in Gilbert, Chandler, Mesa, Tempe. These places will hold value over the long haul, and there are MANY great deals to be had RIGHT NOW. Some are bank-owned foreclosures, and some are short sales, and some are 'regular' sales, but property values are at historic lows in these areas too, so it is an EXCELLENT time to buy a single-family residential home!

If you're interested in Maricopa, I've done a LOT of business there since 2005, as well as the other areas I mentioned. If you'd like a custom search of homes to view at home on your pc, just shoot me a quick email or give me a call; I'd love to help out!

Regards,

Jim Mitchell
Century 21 All Star, REALTORS
jim.mitchell@century21.com
Cell: 480.231.6769
0 votes Thank Flag Link Tue Dec 14, 2010
Maricopa offers great value for the home buyer. It is located about 30 minutes south of Chandler, Phoenix and Tempe. Because of this commuting cost should be factored into your monthly budget.
Web Reference: http://www.gregurroz.com
0 votes Thank Flag Link Tue Dec 14, 2010
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