Real Estate Prices are Absurd
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4/16/2006
Considering the fact that a bit over a year ago you could buy a nice newer home for around $160K and you can't move into the same home now for $300K, I'd say that if you move here, plan on making at least $70K a year to live comfortably.
The Phoenix-Metro area has been a mecca for anyone that works in the mortgage finance/Real Estate area, and the greed of thousands of loan officers and real estate agents have made it too expensive for the budgets of the unmarried, or uninherited. If you do look for a home, be prepared to be attacked by at least 20 loan wolves at the same time, not to mention many real estate agents that think they have the best deal for you. Submit your personal contact information to one online agency and be prepared to have your personal information spread throughout the entire city.
I inquired about the possibility of buying a home here, online, and I've since then counted over 100 e-mails, and 12 phone messages from people I don't know that are ready to make $5K plus from my potential transaction. It's so easy to get into the business of real estate here that I've even been contacted by an 18 year old agent. Just who I want to deal with my financial situation. Right.
Jamie | Phoenix, AZ