I read recently in a report published by CNNMoney that Phoenix home values are currently 35% overvalued. WHAT???? Overvalued as compared to what… a Volkswagon?
I only ask because yesterday I wrote an offer on nice little condo with mountain & pool views in Phoenix. This condo sold in 2006 for $180,000. List price today? $54,000.
There are over 2000 homes/condos for sale in the Phoenix metro area that are priced UNDER $55,000.
Home values have fallen 50-70% in many areas. Call me crazy, but I wonder how can anyone think Phoenix is overvalued? 3 years ago absolutely, but today? Not so much.
Remember when you were looking for Chandler Real Estate and you thought homes with green shag carpet and 
harvest gold appliances were ugly and not worth seeing? Remember when you were turned off if the house seemed dark or had formica counterops?
And now? The squeals of excitement as you discover ~ “Hey… Check it out…it has a toilet…bonus!”
Yep, today’s Chandler buyers, who are searching for some of the best deals are kissing a lot of toads before finding “the one”.
It has taken awhile for me to adjust my perspective regarding Chandler Real Estate and come down off that real estate pedestal that thinks a great house has designer paint and plantation shutters. Now I just hope all the appliances are intact, there are no other offers on the home and…yes..it has a toilet.
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With winter weather wreaking havoc across the country, we shouldn’t forget that Phoenix also has its share of devastating weather in the last couple weeks.
Below is a photo showing damage to a home from a recent storm that passed through the Phoenix area. It really makes you cherish what you have, and reminds us not to take life for granted.
