Is South Scottsdale a good area (85251 zip code)? Im thinking of purchasing a newer built home surrounded by older homes.

Asked by Robert, Scottsdale, AZ Tue Jan 19, 2010

The issue is the surrounding area. I think that it goes without saying that the location will not appreciate as fast as a place slightly further north. Would you envision there would be a possibility of the area depreciating in say, 5 years, due to the surrounding getting even older?

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Kelli Michelle’s answer
Kelli Michel…, , 85250
Tue Mar 2, 2010
85251- I might be biased but that is my FARM area and the place that I call home. 85251 is holding true to value and there is very little inventory so you know that it is desirable. I do believe 100% that old town Scottsdale will stay one of the most elite in location. Tempe is another area that is also holding true. I have 10+ escrows in 85251 under 100K right now and people are holding on to the offers for dear life. We see a bit of a climb in condo sales as well with pendings at a high!!

If you have any questions on certain areas please refer to our ARIZONA buyer advisory guide it is most helpful with crime statistics and schools. There is a lot of helpful information in there that realtors sometimes don't touch on. Please feel free to email and ask any questions you might have!!

Kelli Michelle, CDPE
CENTURY 21 ALL STAR

602-579-0854 CELL
myhomegirl@gmail.com
0 votes
Ed Adler, Agent, Scottsdale, AZ
Sun Jan 24, 2010
Hi Robert,

I live in Old Town Scottsdale that are great buys lets talk.
0 votes
Jeffrey Masi…, Agent, Scottsdale, AZ
Tue Jan 19, 2010
Dear Robert:

Hi. The answer depends on your definition of "good". Are you looking at appreciation possibility or other factors?

This may be a personal decision as what your neighborhood has to offer.

I can offer the old real estate adage for appreciation, "Buy the least expensive home in a more expensive neighborhood". Would the house you are thinking of fit that model?

If it doesn't you may want to look somewhere else IF appreciation is your number one concern. If you like the neighborhood, proximity to work and friends yes this may be a good neighborhood.

Don't rule out a foreclosure property. This is a great time to buy. As you probably know, the $8,000 tax credit has been re-instated for first timers or those that have not owned in three years. There is now a $6,500 Tax credit for existing homeowners. Additionally if you do purchase a foreclosure property, free grant money (up to 22% of the purchase price) is available if you live in the home for periods of 5, 10, or 15 years. This makes inexpensive homes already, even more affordable. The free grant money is available through the state of Arizona. See the link for "Free Grant Money" at: http://www.arizonahomesland.com/forbuyersorrenters.php.

I have lived in Scottsdale for 23 years. If I can answer any more questions or show you some homes or land, feel free to give me a call. I would be pleased to help you.

Regards, Jeff

Jeff Masich, Realtor®
Arizona Homes and Land
480-556-0940
JeffMasich@ArizonaHomesLand.com
HomeSmart Real Estate
Web Reference:  http://ArizonaHomesLand.com
0 votes
CAgent007, Agent, Scottsdale, AZ
Tue Jan 19, 2010
85251 is not a bad area at all. This is considered the old town Scottsdale area but you will have limited comps. There are some newer built homes in this area also surrounded by older built homes so you would have to see what those homes sold for. You also have to check your immediate area of the subject’s location. Drive down the street and look at all homes within the block. Is the subject’s area primarily single family, multi family, condo or condo conversion, town homes, within walking distance to old town Scottsdale, etc? All this needs to be taken into consideration to understand what the home is worth now and any future appreciation or depreciation. There are pockets in any zip code and I know that there are some older very nice well kept up homes still selling slightly over market value in this area.

Good luck and if you are working with a realtor ask her/him to provide you with a market analysis of the property with future appreciation and depreciation market info. If not then do not hesitate to call or email me anytime.

Juan Pesqueira
Selling a Lifestyle
480-458-8007
Prudential American Associates
http://www.homesscottsdalefor.com
0 votes
Tim Regan, , Chicago, IL
Tue Jan 19, 2010
Rates are fabulous right now. It would be fantastic time to buy. If you need any help with financing call me at 480-282-5034.
0 votes
Donald Keys, Agent, Scottsdale, AZ
Tue Jan 19, 2010
Robert one of the tools that buyers have in order to due their due diligence and inform themselves is the BUYER'S ADVISORY. Here is a link to this very valuable document:

http://files.me.com/donaldkeys/rqz2qj

Also here is a current list of homes in the 85251 zip code that you maybe interested in:

http://www.flexmls.com/link.html?rdtb0x9cr8p,12,1

I hope this helps.

** MUST SELL - SCOTTSDALE FORECLOSURES **
FREE LIST with pictures updated daily!
htttp://www.ScottsdaleForeclosuresForSale.com
0 votes
Lisa Katz, Agent, Scottsdale, AZ
Tue Jan 19, 2010
Robert, Your right, location will always be the issue as far as appreciation. I think it will be a harder sell in the future if there are older homes in the surrounding area. But of course this depends, because if you look at areas of North Scottsdale or Paradise Valley there are New Builds right next to older homes. The primary reason for this is location, lot size, school district etc. I don't know exactly where your looking to build but questions to consider would be: Are there others building new homes in this area? Are you in a good school distrrict? Are the other homes in the area kept up? What are the Comparables in the area? I am assuming your not working with a Realtor? If you need help with purchasing a home my contact phone # 602-793-9300. Good Luck!
Web Reference:  http://www.lisakatzsells.com
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