Have you found a house in 85282? If yes, by now you are probably considering buying an investment property in the area, I believe. It's a great area with many attractively-looking neighborhoods. Proximity to parks, to down town Tempe, and to ASU campus makes this area very desirable.
Foreclosures are still rising, even in Tempe, and the buyers are few and far between. I would love to say, "jump in the car, lets get your son a home" but honestly, waiting 6 months may save you 10 to 15% on the price. See my blog on Phoenix area real estate, and send me an email to receive my newsletter.
I am an ASU alumni, and I lived in Tempe for a year. I've also found other cities nearby, namely Mesa and Gilbert, to be very convienient also while I was working and going to school full time. Back when I was in school, rent prices pushed me out of Tempe.
My advice for 85282/Tempe is try to stay closer to the grocery stores; there aren't many around and it's kind of a pain when you can get to 3 laundromats easily but maybe only a convience or liquor store for 'food'. There are also some odd pockets that you'd probably want to stay away from, so be sure to seek the advice from an agent that's knowledgable about the area.
Good luck on the house hunting!
If you son is working with a realtor, have her/him to provide wi th more info about tempe.
In Tempe there is a lot going on. Sun Devil Stadium, Center for the Arts, tempe town lake, races, walks,arts, dinning, shopping, Mill Avenue, easy access to freeway, short distance from Phoenix Airport.
Easy commute to Scottsdale (101).
Are planning to buy close to ASU?
If you have anyquestion feel free to call me
Have a wonderful Day
Tempe holds its value well because it's close to everything. There are three highways that run through it with easy access to the rest of the valley. Easy access to employment centers in Phoenix and Scottsdale in addition to Chandler and Tempe's south tech corridor. The closer your son can buy to Downtown Tempe, in my opinion, the better it will hold its value and appreciate.
Good luck in your search!
It is a great area if your son is looking to go to school at ASU. Along the lines of prices being projected to drop, I would say it depends on who you ask. Personally, I can't see them going much lower, and in certain areas I have been noticing a pickup in activity. There is more demand in Tempe so it is not as dynamic as other areas in Arizona.
The future is good for that area, as long as ASU is there :) There will always be a demand for homes there for the same reasons you are looking.
I hope that brief explanation helps. Let me know if you need anything else.
~Sal J. Giorlando