PHOENIX: Still a hot market for Californians!
PHOENIX: Still a hot market for Californians
I spent this past weekend in San Diego, and tagged along with a friend who is looking to purchase a home. As much as the Phoenix market has changed and faced higher home prices, we still put California prices to shame!
We viewed homes 1-30 years old in the Pacific Beach area (all were 1+ miles off the water), as well as condos on Mission Bay. My friend had put an offer in on a 2 bed, 2 bath condo on the Bay at $1.2M - and someone outbid him. When we visited the community, it looked like an old apartment complex. The unit was 1200 square feet, and while it was nice, it was nothing spectacular.
The homes we toured weren't much better in Pacific Beach; we viewed new, 3-story quadplexes that had the CHEAPEST finish materials I've ever seen; they were 3 bed, 2.5 bath, about 1600 square feet, and starting in the $700s. We also looked at a single-family home that was 30 years old, but recently remodeled. While it was done nicely, there was no driveway or garage - you had to park on the street. It did have alley access, so you could add a garage, but that would cost additional and you'd lose valuable backyard space. The list price on the home was $1.2M - to park on the street!
No wonder about 9,000 Californians a MONTH convert to Arizona driver's licenses!
While California has beaches, it also has high taxes, expensive insurance, car registrations, fuel costs (the lowest I saw all weekend was $3.35/gal), etc - across the board, it's considerably more expensive to live there. The weather is unpredictable; it was dreary all weekend, although forecasted to be nice. You have natural disasters - mudslides, wildfires, and earthquakes. Rents are also high; a 3 bed, 3 bath 2000 square foot home that would sell for $1.6M rents for $4500 - which is outrageous rent, but still less expensive than the mortgage payment would be, even with 20% down.
Nearly everyone I met who learned I'm from Phoenix asked about housing; many of their friends and families have already moved here. We're only 45 minutes by plane to LA, San Diego, or Vegas, and a 5 to 6 hour drive to the same cities. Phoenix to the Mexican Beaches of Rocky Point? It's a short 4 hour drive. If you want to ski or snowboard, Flagstaff is but 2 hours in the car. We offer many lakes for boating and water sports. The weather couldn't be MORE predictable! Phoenix also has a far-superior job market.
February's median home price -- the level at which half of all home sales are above and half below -- speaks volumes about California's migration patterns. Los Angeles County: $528,000. Phoenix area: $253,000.
Overall, Phoenix offers so much to enjoy - and with a lower cost of living, you can afford to enjoy more of it!
There's an article on www.azcentral.com that details one family's transfer from S. California to the Phoenix Metro, complete with some great statistics and insight - click HERE to read it.
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333