Why is real estate cheaper in Sun City, Az than other counties

Question

Hi everyone, I live in Phx,az and its nearly impossible to find real estate ready to live in below $350k, there are a lot of fixer uppers that are in bad condition from $200k, I have acces to MLS and noticed there are homes in Sun City ready to live in , decent area for a lot cheaper than other counties,yes, this is even the areas that are not +55 and older. These homes are not mobile or in a Hoa neighborhood .

Henry T. · Answer

in the 2008 crash all of those places were going for 60-70k. I should have bought 20 of them, and almost did, but got sidetracked. Good rentals, and probably ok for personal residence.

Noah Corwick · Answer

A lot of it is due to the notion that Sun City is known as a retiree city with a ton of +55 communities and homes that are smaller and not as nice as other areas in Maricopa County. The feeling that because it's so one dimensional, it's future appreciation is tapped.

We'll see in a few years if that changes due to the success of Surprise, which is right next door.

Jimmy Rojas · Answer

I know, my father purchased 4 and brother 6 all in cash. Good times lol

Marc Globensky · Answer

Its because its an entire city of 55+. its a median income retirement town

Bretton F Trapnell · Answer

Hi Jimmy! Certain areas of the valley can be less expensive than others. Often times these lower cost areas are on the outskirts. Also there are a lot of 55+ communities in that area and those properties are generally at a lower price point. Anytime you are surrounded by those types of lower price point properties, the nearby properties are more likely to follow suit on price point. If you are looking to stay under 350k, sun city, Waddell, buckeye, Goodyear, Maricopa, new river etc are probably your best options. You may be able to find something older in parts of Mesa, and you might find a few in Glendale as well.

Bob Okenwa · Answer

A lot of the homes in the area are 2 bedrooms and many of them are less than 1000 sf.

Also, there is a stigma that all of Sun City is basically a retiree-only community.

Bruce Woodruff · Answer

I notice that as well, a good place to buy and use as a rental IMHO. Why, I don't know, but if you avoid the HOA issue, the upside is huge...

I doubt there is a lot of appreciation though....

Why is real estate cheaper in Sun City, Az than other counties

Why is real estate cheaper in Sun City, Az than other counties

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