Maricopa

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gotmud

gotmud

10 Year 15 Year
Joined
Jul 12, 2007
Threads
90
Messages
2,104
Location
Gilbert, AZ
Talk me into or out of buying a home in Maricopa. Right now I live in NE Mesa. My office is in mid-town Phoenix (about 35 miles, one-way) from Maricopa its about 39 miles each way. However, the home prices are dirt cheap. I realize some of the amenities/conveniences of the east valley won't be there for a while, but I looked at a 4000 sqft home yesterday that is 2 years old and the asking price is $147K:eek:

Any 'mudders live there that can give me more info?
 
I don't live there but know a couple who do. They regret their purchase. The problem with being in Maricopa / Johnson Ranch / Verrado is that you're so far out that buyers are looking at those areas for "starter" homes mostly. I don't see crazy home appreciation happening in Phoenix anymore. It'll be flat for 2-3 more years and then hopefully get on a more typical path of 3%-5% per year.

Do you also realize that I-10 is bumper to bumper from the 202 all the way to downtown? Add that to the fact that there's basically one way in and out of Maricopa and you're looking at some time in the seat every day.
 
Not sure how bad the traffic will be since I typically get to my office about 7am and leave around 3:30. I know coming from the east valley in the morning, I need to be on the 202 before 6:15 otherwise my travel time goes from 35-40 minutes to about 60. Definitley something to consider!
 
Did you notice the constant rumble of trash trucks going up and down Maricopa Road? They bring the Valleys trash a few miles from Maricopa to a HUGE landfill. Every year we go visit a farmer/rancher that lives past Maricopa proper and marvel at the smell that permeates the place. Granted, this is usually in the summer when everything is ripe - but keep it in mind. It gets real bad and the wind usually isnt in the towns favor.
 
you don't wanna hang dead over a fence there - 'nuf said
 
I work with a guy who drives in from Maricopa. He likes it down there but bought at the height and is considering letting his home go back to the bank, as he is up-side-down.

That said I'd wait for home prices to go down again, and they will. I think there is still another wave of foreclosures on their way. The first wave consisted of home owners who could barely afford the home and put little down. The next wave consists of two groups !) Those with ARM's and 2) those who have good credit and income but are underwater on their home to value ratio. Ask yourself, do I take the hit on my credit or continue making payments on a negative equity position that won't change for a decage?

I don't know your situation. You may need the the extra room now and take what the market gives you. I just adopted again and would like a bigger house. However I'd like to purchase at the bottom, not the middle. In addition you may look at how long your home would be on the market and how much you can sell it for. You may find after looking at those figures it may be worth staying where you are.

That's my $.02
 
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IIRC the landfill is in Mobile (now part of Goodyear)

Current home will be a rental if we purchase in Maricopa. Although we could sell it at current market value and not take a hit. We've had a couple of foreclousres on our street this year which has brought the comps way down.
 
I live on riggs / mcqeen, and know a few people in 'copa, as well as have a pool out there that we service - the only complaint any more that I hear anymore (used to be from lack of grocery, etc) is the traffic issue - you better hit I-10 by 5:30am or it gets ugly trying to get into chandler and downtown due to the tuscon crowd, and the rest of 'copa, casa grande coming in. If you get one of the nicer builders, (Pulte, etc) you will have a great house for little denaro.
As a comparison - the house next door to me forclosed six months ago (investor),and the banks asking price today is less than the guy paid for it to be built new in 2003-4. (280,000 for a four bedroom, on the lake, dock, pool, three car garage, etc.) Sad.
 
I'd be iffy on the homes out there. Watch out for south phoenix moving to maricopa. Quite a fe of the homes are jacked up out there already from people who shouldnt have bought houses in the first place. The other thing to remember before buying anything out there is to really check out the foundation and the walls. Those houses went up so fast inspectors coudn't even catch everything and the labor on them was mediocre at best. My old man told me they set a record for most homes built in a month out there. Thats really not a record you would want to live in.
 
gotmud said:
Crystal ball?
Click to expand...

.Continued weak job market
. Savings are running out for those who did save some.
.Homeowners are still struggling to pay their mortgages and once they pay for Xmas they will be throwing in the towel.
.1yr/3yr wave of morgs are coming due at the 1st of the year - more walkers
. Investor are holding a lot of QC, Maricopa, and Surprise homes and plan to reduce exposure at the beginning of 10.


What has changed in the last few months to make you think its at a bottom and time to buy?
I do believe there are deals out there to be had but I see the risk too high for those 3 areas still.

Best of luck on decision
 
I agree with Phil that we haven't quite hit the bottom and especially out in areas such as Maricopa and Queen Creek. My grandparents just bought a foreclosed home on an acre, county island at Gilbert and Ocotillo for an awesome price, just a hair over 200k. 3300 sqft, 5 bed, 3.5 bath, custom home built in 2000. I'm not sure if you're looking for land, but I have a feeling the banks are going to be dropping the price of foreclosed county islands a lot more now since county taxes took a big jump. I work at Intel in Ocotillo and I have a lot of friends who bought/live in Maricopa, some say they like it, but most don't. The traffic, even at 5:30am is horrible and it's just so far away. Is it just the great price for the amount of home you can get that is so appealing to you?
 
As others have said, a lot home for the money. I also see the downward spiral slowing down a lot out there. Looking at one house in particular, it was depriciating about 1500/month until about three months ago when it went to about 500/month. Where as other parts of the metro area are still on a steeper downward trend.

The drive is not much of an issue since I can work from home as needed/desired, plus I travel a lot for work. I do realize it is a viable point though. But I also compare it to the way Surprise was back in in 2003 when I built a house out near the ball parks. There was nothing out there except around Luke AFB. Now the place is completely built up.

Like everyone else, I'm trying to find a good deal. -Buy low / sell high
 
Do you have a family? That would be a big consideration moving out that way. Its pretty lame for kids and your wife living there. Your out in the middle of nowhere and you still don't even have land to show for it. I just don't see maricopa, queen creek, florence taking off.
The valley has been growing steadily outward since the 50s and home prices saw modest increases until what 2002? Then all of a sudden speculators jumped in and the builders built houses in the middle of nowhere only to keep the prices down and keep buyers in the market. People are always moving here but not that fast. Its going to take a long time for growth to catch up to those places. The planning was poor as well as the roads, and there is very little incentives for businesses to start up out there. Theres alot of room in between gilbert and queen creek still, maricopa is isolated by the reservation so its never really going to be another mesa, chandler, gilbert, glendale, scottsdale, or tempe. 50 years without satelite communities in the valley then 5 years and they pop up like mad. Its just doesn't look good long term. A lot of the buyers out there are speculators again so half your neighborhood is empty.
Thats the best I could come up with to convince you not to move out there.
 
gotmud said:
Crystal ball?
Click to expand...
Howdy! Check this morning's USA Today on pages A1 and A3 for a good article on why Phoenix, and Las Vegas are the two hardest hit areas in the country. John
 
Maricopa the thing to think about if you think back to the 1980s when we had the floods there was a foot of water in that school past the RR crossing.I replaced the floors their and the only way in or out of maricopa was through CASA GRANDE and up Interstate 10 .Maricopa road was flooded out for over a month.Plus $2.55 a gal gas could turn into $5.oo a gal plus high crime rates there DON'T GO
 
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