Phoenix Real Estate
The Phoenix area offers a lot more diversity in housing and neighborhoods than one would expect for living in the Sonoran Desert. While neighborhoods featuring stucco houses with tile roofs populate many Phoenix communities, the diversity of housing and communities includes historical communities with grass front yards, desert enclaves with beautiful mountain vistas, high rise condos with breathtaking views of the city, and luxury mansions that rival five-star resorts.
Resale homes
Like everywhere else in the country, prices on resale homes have dropped, fueled by foreclosures and changes in the economy. As consequence, home prices today are incredibly affordable, the Phoenix real estate market is full of 4 to 5 year old homes, in great communities; move-in ready, selling for less than $125,000. In fact, it isn’t uncommon to find a 4 bedroom home, built after 2004, priced under $100,000.
The great values aren’t limited to one area of the valley. Many exclusive communities in Scottsdale, Paradise Valley, Cave Creek, Fountain Hills, Chandler, Gilbert, Mesa, Ahwatukee, and Phoenix are also seeing homes sell for 50% of their previous values.
Master-planned and gated communities
Master-planned communities are becoming increasing popular in the Phoenix real estate market. Many offer housing options ranging from condominiums, to single-family move-up homes, to luxury homes. The amenities offered by these communities can include golf, pool & spa, walking trails, bike paths and workout facilities. Within many master plan communities are gated and guarded-gate homesites that provide an extra level of security. In general, many master-planned communities hold their value very well, and seem to have a little more cachet than other communities. This is a very popular option for vacation homes.
Some of the more popular communities include:
Scottsdale: DC Ranch, Grayhawk, McDowell Mountain Ranch, Scottsdale Ranch, Gainey Ranch, McCormick Ranch.
Cave Creek: Tatum Ranch, Dove Valley Ranch
Gilbert: Power Ranch, Seville,
Chandler: Ocotillo, Fulton Ranch
Mesa: Las Sendas, Alta Mesa
Phoenix: Anthem
Custom Homes
Luxurious homes can be found throughout the valley but a high percentage of luxury homes are located in the cities of Scottsdale, Paradise Valley, Fountain Hills and Carefree. In addition, there are pockets of luxury homes in east Mesa; south Chandler; Tempe; north Phoenix; and the Ahwatukee Foothills area of Phoenix.
A typical Luxury home sits on at least three-quarters of an acre and has a incredible swimming pool for entertaining. In Phoenix, the style of luxury homes can range from Ultra Modern, Tuscan Villa, or Southwestern Adobe.
Condominiums & Lofts
One of the newest developments in the Phoenix real estate market has been the construction of new high rise condominiums and lofts in urban setting. Most are found near Downtown Phoenix, Old Town Scottsdale, and Tempe Town Lake. With the recent completion of the Valley Metro light rail line, Downtown Phoenix and Tempe Town Lake are now linked, adding one more element to the convenience of urban living. If you want to live, work and play in one area, this could be the option for you.
Active-adult communities
Retirement communities have been part of metro Phoenix history for almost fifty years. The first retirement community in the country, Sun City, opened in 1960 in the northwest Valley. Now there are Sun City West and Sun City Grand near the original Sun City, and far across the eastern side of the Valley, Sun City Anthem in the historic town of Florence. Adding to the list of adult communities is Sun Lakes, near Chandler, and hundreds of other age-restricted communities sprinkled throughout the valley. Many include features like golf, pools and spas, fitness centers, workshops, and classes.
