As some have mentioned already QC is growing with a new library, the new QC Marketplace, QC just purchased their own water company, several new parks are coming and QC now has their own Fire Department. Cortina and Sossaman Estates are on the border of Gilbert and QC. The schools are Higley Unified (same as Gilbert side). In the QC side you get more square footage for your money than on the Gilbert side.
We have an extremely upgraded 4690 S.F. house on private over 1/3 acre lot with mountain views for sale in Sossaman. Please take a look at the virtual tour http://www.visualtour.com/shownp.asp?T=1348319 . We have put over $900K into this home and it is listed for $550K. Its a great deal! MLS# 2900954.
Please feel free to call with any concerns or questions that you may have. ;-)
Even though there may be better deals in Queen Creek, you want to think about the future potential of the property you are investing in. Location! Location! Location! My experience has been that it can be much harder to sell a home with a Queen Creek address rather than a Gilbert address, even within a mile of each other. Some buyers have a perception that Queen Creek is too far out, yet it may just be a location right outside of Gilbert. For example, there are many comparable homes located in Power Ranch (Gilbert) versus Sossaman Estates (Queen Creek). Both communities are located at Power Rd & Queen Creek Rd, one at the NW corner, one at the SE corner. The Power Ranch property is likely to get more traffic because it is located in Gilbert. Of course, many other factors come into play, but this is something to consider.
With so many opportunities out there, I would suggest purchasing in Gilbert or Chandler, especially for a higher end home. There are many short sales/foreclosures in all areas you are considering, but there is definitely an abundance in Queen Creek. I would stay closer in.
I am very familiar with Gilbert and Chandler, as I own homes in both. I would be happy to help you in anyway I can.
Foreclosure, being a bank owned / lender owned can be a great opportunity, REO`s also can be a nightmare.
I have seen a handful of beautiful " Upscale" homes in the Creek. Great lot location, design, etc...
However if it was my money, I would have to wait.
As you wrote in your question "a number of available homes and many short sale and foreclosure"
Supply and demand?
Now the Creek is selling homes, and has a lot of current pending, however most of them are in the mid 100`s to mid 200`s,
There is not that much activity above 400K
If you have to by now, I would go back to where you began your search. Gilbert, Chandler.
Good Day & Good Luck
John lynch 480-236-9470 RE/MAX Fine Properties
You might also consider the Fountain Hills area. It is a beautiful community and has very easy access to the East Valley. You'll find great views and great custom and semi-custom homes in a small town atmosphere. Fountain Hills has a great location as it is close to Scottsdale and the East Valley. You can check out homes via the link below.
There are some great homes within this price range in the Ocotillo area of South Chandler that is home to several professional and retired professional athletes. Schools are fantastic & shopping is great. There's even an AJ's Fine Foods within a brand new upscale shopping center with boutiques and other higher-end services. Ocotillo Golf is a Troon-managed golf course. I highly recommend exploring this area if you haven't yet. I live and work here out of the Ocotillo Keller Williams office.