Queen Creek has many nice homes but for more of a upscale area Gold Canyon or North Mesa has more of a upscale feeling and the homes are more semi/custom homes. Many of the Gold Canyon homes are in a gated community that used to sell and some still are a million plus but the hoa fee is high it is located in the golf community and then there is a community in North Mesa called Las Sendas with beautiful mountain and city views plus they are all on larger lots. When the building stopped in Queen Creek the roads slowed down but they are still working on them slowly. Please feel free to contact me with any questions. Gilbert has many beautiful homes as does Chandler... more
That is a lot to consider: Aside from all the investment, tax, emotional, and expense considerations there may not be a choice depending on your financial situation. FHA, FNMA, & FHLMC all have very specific guidelines and requirements in order to finance an additional property. Here is exerts from HUD and the mortgagee letter that specifically address's this issue
MORTGAGEE LETTER 2008-25
It literally states
"Due to FHAâ€™s concern that some homebuyers in these transactions may attempt to provide misleading information regarding the rental income of the property being vacated to qualify for the new mortgage, FHA is instituting underwriting guidance designed to assure that the homebuyer can make payments on the full debt service of both mortgages. "
You should beware if this is a short sale, it depends on how much this property means to you and if there are more out there.. Any questions you can call or email me.. Hope you find your dream home...... more
I have one of those big fancy aerial photos of Phoenix in my office. They are made by Landiscor and cost a ridiculous amount of money, but as a talking point, it's almost invaluable for people trying to understand the greater Phoenix area.
When they begin to talk about the most outlying areas, like Queen Creek, and housing prices, I show them the map, and I show them all of the vacant land that still exists between where they are thinking, and the airport. As we know, all of that vacant land will one day develop into housing. And when it does, it will be competition for everything that is further from the airport than the new home that goes up 5 or 10 or 15 miles closer to the airport.
That new home, on fresh new land, will be new. It will be built to the "modern" standard, whatever that happens to be 5 or 10 years from now. Perhaps that is more energy efficient, bigger, smaller, taller, fatter--we really don't know. But when it is built, people will like the shiny new thing, and the older thing that's further away will look...dated.
So when will Queen Creek bounce back? I've told my clients for years now: When all of that vacant land gets built. Right now there is far too much inventory, and the land is not even 50% built. Personally, I think it's going to be a long time. If a true bounce back happens by 2013, I'd be very surprised. My guess would be 2017, IF the economy doesn't plow into a great depression, thanks to our governments economic policies.... more