Cant find nothing under $280k in Phoenix and surrounding areas

Member since 2020 · 146 posts · 39 votes

Hey guys, i have access to MLS and I dont know if im setting up my search parameters wrong or its just that the market is still hot here but cant find anything under $280k in Phx,Az and surrounding areas (not interested in south PHX).

What im looking for is residential single family detached, +1000sqft living area, +8k sqft lot size, +2bdr, +1 bath room, within Mls looked in Phx,Glendale, Mesa, Morristown,Cave creek, New River, Surprise and Wickenburg.

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Peter Vekselman

Real Estate Professional · Atlanta GA · Member since 2015 · 615 posts · 225 votes

@Jimmy Rojas

congratulations for getting in the game and trying to put deals together.

remember, what makes a good deal is not how much, but the equity in the deal. i know you know that, and i know you make have limited funds that prevent you from being able to look for bigger deals.

but, one thing you must also understand is that doing basic searches the way you are doing in the MLS will not get you a great deal.

99% of good deals never hit the MLS, and if something slips through it get taken within minutes. so by the time you are seeing the properties all the top investors have already seen them, vetted, and passed.

seriously consider setting up a marketing engine that goes to owners directly.

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Account Closed
Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
2y
Quote from @Jimmy Rojas:

Hey guys, i have access to MLS and I dont know if im setting up my search parameters wrong or its just that the market is still hot here but cant find anything under $280k in Phx,Az and surrounding areas (not interested in south PHX).
What im looking for is residential single family detached, +1000sqft living area, +8k sqft lot size, +2bdr, +1 bath room, within Mls looked in Phx,Glendale, Mesa, Morristown,Cave creek, New River, Surprise and Wickenburg.
According to Redfin there are 36 homes that meet that criteria, not counting Mobiles
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Josh YoungPro Member
Rental Property Investor / REALTOR® / Property Manager · Gilbert, AZ · Member since 2023 · 384 posts · 421 votes
2y
@Jimmy Rojas there are a few, here is a map. Shoot me a DM if you want to check any of them out.

[email protected]802-274-8121
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Peter Vekselman
Real Estate Professional · Atlanta GA · Member since 2015 · 615 posts · 225 votes
2y
@Jimmy Rojas
congratulations for getting in the game and trying to put deals together.
remember, what makes a good deal is not how much, but the equity in the deal. i know you know that, and i know you make have limited funds that prevent you from being able to look for bigger deals.
but, one thing you must also understand is that doing basic searches the way you are doing in the MLS will not get you a great deal.
99% of good deals never hit the MLS, and if something slips through it get taken within minutes. so by the time you are seeing the properties all the top investors have already seen them, vetted, and passed.
seriously consider setting up a marketing engine that goes to owners directly.
1 Reply
Jon McEntee
Real Estate Agent · Phoenix · Member since 2023 · 5 posts · 0 votes
2y
I just sold a 2/1, 800ft2 SFR that was recently remodeled for $195k in central Phoenix. Obviously not over 1000ft2 that you are looking for but there are opportunities out there. Mostly off-market which is mostly what I get. Happy to help in anyway I can! Just reach out
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Jimmy Rojas
OP
Member since 2020 · 146 posts · 39 votes
2y
Quote from @Account Closed:

Quote from @Jimmy Rojas:

Hey guys, i have access to MLS and I dont know if im setting up my search parameters wrong or its just that the market is still hot here but cant find anything under $280k in Phx,Az and surrounding areas (not interested in south PHX).
What im looking for is residential single family detached, +1000sqft living area, +8k sqft lot size, +2bdr, +1 bath room, within Mls looked in Phx,Glendale, Mesa, Morristown,Cave creek, New River, Surprise and Wickenburg.
According to Redfin there are 36 homes that meet that criteria, not counting Mobiles

Residential single family detached? not looking in south PHX. I also use Zillow but did not find anything. Could you please post a link.
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Jimmy Rojas
OP
Member since 2020 · 146 posts · 39 votes
2y
Quote from @Jon McEntee:

I just sold a 2/1, 800ft2 SFR that was recently remodeled for $195k in central Phoenix. Obviously not over 1000ft2 that you are looking for but there are opportunities out there. Mostly off-market which is mostly what I get. Happy to help in anyway I can! Just reach out

How do you find homes at a reasonable price.
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Account Closed
Investor · Scottsdale Austin Tuktoyaktuk · Member since 2021 · 4k+ posts · 4k+ votes
2y
Quote from @Jimmy Rojas:

Quote from @Jon McEntee:

I just sold a 2/1, 800ft2 SFR that was recently remodeled for $195k in central Phoenix. Obviously not over 1000ft2 that you are looking for but there are opportunities out there. Mostly off-market which is mostly what I get. Happy to help in anyway I can! Just reach out

How do you find homes at a reasonable price.

You look in another part of the country. Try Redfin.com

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Melissa Nash
Rental Property Investor · Orange County, CA · Member since 2016 · 740 posts · 529 votes
2y
Live where you want, and invest where it makes sense. Sounds like its time to look in out-of-state areas :)
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Noah CorwickPro Member
Realtor · Phoenix, AZ · Member since 2021 · 271 posts · 115 votes
2y
Hi Jimmy,
On market SFHs for under around $350k in PHX are slim pickings unfortunately.
Working with a Wholesaler or an agent who works with off market properties, or cold calling yourself will likely be your best bet.
What are you looking to do with this property? Flip it? BRRRR it? Are you looking at traditional financing for purchasing it?
[email protected]602-834-4617
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Andrew McGuire
Real Estate Agent · Chandler, AZ · Member since 2022 · 215 posts · 156 votes
2y
Why 280K, is there an option to look at a little higher price point getting creative with the financing of?
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Jon McEntee
Real Estate Agent · Phoenix · Member since 2023 · 5 posts · 0 votes
2y
Quote from @Jimmy Rojas:

Quote from @Jon McEntee:

I just sold a 2/1, 800ft2 SFR that was recently remodeled for $195k in central Phoenix. Obviously not over 1000ft2 that you are looking for but there are opportunities out there. Mostly off-market which is mostly what I get. Happy to help in anyway I can! Just reach out
I work with a large team of acquisition agents that find deals through many different means. Email blasts to home owners, our connections to thousands of agents in the state with pocket listings, sometime other wholesalers, and many other ways. I can get you set up on my network so you can see what we are getting!

How do you find homes at a reasonable price.

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Jimmy Rojas
OP
Member since 2020 · 146 posts · 39 votes
2y
Quote from @Noah Corwick:

Hi Jimmy,
On market SFHs for under around $350k in PHX are slim pickings unfortunately.
Working with a Wholesaler or an agent who works with off market properties, or cold calling yourself will likely be your best bet.
What are you looking to do with this property? Flip it? BRRRR it? Are you looking at traditional financing for purchasing it?

Yes, right now in Az the market is still hot , I remember just one year before the financial crisis i financed a 2br 850sqft home with 12k lot size, ready to move in one block away from the mountain preserves for $150k , remember back then i thought $150k was high.
Recently my father sold his home and currently has $260k cash to purchase a home
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Jimmy Rojas
OP
Member since 2020 · 146 posts · 39 votes
2y
Quote from @Andrew McGuire:

Why 280K, is there an option to look at a little higher price point getting creative with the financing of?

Father recently sold his home, his budget to buy a home cash is $260K maybe a little more.
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Noah CorwickPro Member
Realtor · Phoenix, AZ · Member since 2021 · 271 posts · 115 votes
2y
Quote from @Jimmy Rojas:

Quote from @Noah Corwick:

Hi Jimmy,
On market SFHs for under around $350k in PHX are slim pickings unfortunately.
Working with a Wholesaler or an agent who works with off market properties, or cold calling yourself will likely be your best bet.
What are you looking to do with this property? Flip it? BRRRR it? Are you looking at traditional financing for purchasing it?

Yes, right now in Az the market is still hot , I remember just one year before the financial crisis i financed a 2br 850sqft home with 12k lot size, ready to move in one block away from the mountain preserves for $150k , remember back then i thought $150k was high.
Recently my father sold his home and currently has $260k cash to purchase a home

The AZ market is still hot for sure. However I personally don't believe AZ will go back to the way it was price wise. Maricopa area is just not cheap to live in any longer.
I'm sorry to hear that your father is having a difficult time finding a new home. It will be tough to find a house that fits your criteria, but I can try to keep my eyes out for you and your father. I'll shoot you a PM.
[email protected]602-834-4617
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Andrew McGuire
Real Estate Agent · Chandler, AZ · Member since 2022 · 215 posts · 156 votes
2y
@jimmy rojas, yeah that's tough at that price point. I was going to ask if there is a way to finance one of those new Multi Gen on Westside they are selling with an attached fully livable unit for about 450K, if somone else could finance 200K could live in main house and father live in suite. Just trying to think of creative solution.
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Jose ReyesBusiness Member
Real Estate Agent · Phoenix, AZ · Member since 2022 · 9 posts · 1 vote
2y
Hi Jimmy,

Sadly if youre looking within the metro area that is a tough price to find any SFR's, and I don't think they will return anytime soon. Your best bet is to get with someone who can help you acquire one off market. Anything listed at 280k and liveable is likely going to get bid up close to 300k right now.
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Bretton F TrapnellBusiness Member
Real Estate Agent · Phoenix, AZ · Member since 2021 · 18 posts · 5 votes
2y
Quote from @Jimmy Rojas:

Hey guys, i have access to MLS and I dont know if im setting up my search parameters wrong or its just that the market is still hot here but cant find anything under $280k in Phx,Az and surrounding areas (not interested in south PHX).
What im looking for is residential single family detached, +1000sqft living area, +8k sqft lot size, +2bdr, +1 bath room, within Mls looked in Phx,Glendale, Mesa, Morristown,Cave creek, New River, Surprise and Wickenburg.
Hey Jimmy. There likely isn't anything meeting those criteria rather than an issue with your MLS. The days of properties at that price point have pretty much sailed on. There are a total of 5 properties in the entire Phoenix metro area that are active/coming soon at the moment. 3 are 55+ which I'm assuming you don't want. 1 is in phx, and one in Apache Junction.You'll have to either change your house parameters or your price point unfortunately. Best of luck!
[email protected]602-935-1721
Bretton | HomeSmart513 Reviews
Website View Page
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