All Forum Posts by: Jeffrey Daniels

Offered at: $49,900

208 W DR MARTIN LUTHER KING JR St. Eloy, AZ 85131

I represent the long-time owners of a 1950 adobe construction home located between Phoenix and Tucson in Eloy, AZ. I expect this home to be a total project; it is also the lowest-priced existing home structure within an hour of Phoenix, Arizona. Pinal County assessor shows 1080/ft², 2 bedrooms + den/flex, 1 bathroom (no fixtures). The home has been vacant and stripped of copper wiring and plumbing. The property is on city water/sewer, but does not currently have active utility service. Vacant lot down the street just sold for $12,500. Follow the link for interior photos.

Quote from @Justin Brin:

@Jeffrey Daniels In your opinion you don't think there will be an issue with water supply?

Based on the information I've seen from experts - I do not. Water in the Southwest is a decades-old conversation that as our population has continued to grow - many people are just being made aware of, and it's unbelievably political. Of course, conservation is necessary and most stakeholders are improving water use efficiencies. Still, the Phoenix area has an incredible history of accomplishing what seemed like impossible solutions to growth and development in the desert.

Hi @Prachi Metha! There was another post just started similar to this that I replied to... I'm just going to post my reply to that one here, and send me a DM if you'd like to chat more about what's happening in the Valley! I like Tempe too, but that's another area that may be leveling out for appreciation:

My top 5:

1. Sunnyslope - Before changing enrollment method, parents used to wait in line overnight to enroll at this high school, like it was to get tickets to Aerosmith (Gen Y, think Taylor Swift). Hatcher could become the next Melrose. A hospital, and some excellent restaurant/bar options already.

2. North Mountain Village - previously stigmatized area due to Metro Center, the "bad mall". Now gone with an approved $850M redevelopment project which includes being the terminal point for light rail.

3. El Mirage - Spanish for "Surprise", and half the cost for the same homes. Closer to the city and 10 minutes from Luke AFB.

4. South Phoenix - Completing the 202 Loop around South Mountain plugs this area into Chandler's Price Cooridor just as easily as downtown Phoenix. Lot's of developers, vacant land, and loong time owners here.

5. Hmm, Maryvale - If Maryvale had been built with an HOA, it would be Arcadia. 3rd generation Phoenicians thumb their noses, old heads remember water problems, while people relocating from NY/LA/Chicago think the crime rates are "cute". If the budget is under $400k, join the block watch and help build the community, because there is no way this area remains inexpensive while homes to the West twice as far from downtown get into double the valuations here.

imho, the original post reads as mostly written by ai. AI would also be pulling from an existing knowledge base, and as some others have mentioned - the greatest hits of the Valley may be played out. Areas that popped since 2011 probably aren't going to see the same gains over the next decade. Sure, many people want to be in Scottsdale, Arcadia, Biltmore - but if you're at all budget conscious, you're going to be comparing options at these prices. So, where can you get in now at $400k-$600k and hope to double in a decade?

My top 5:

1. Sunnyslope - Before changing enrollment method, parents used to wait in line overnight to enroll at this high school, like it was to get tickets to Aerosmith (Gen Y, think Taylor Swift). Hatcher could become the next Melrose. A hospital, and some excellent restaurant/bar options already.

2. North Mountain Village - previously stigmatized area due to Metro Center, the "bad mall". Now gone with an approved $850M redevelopment project which includes being the terminal point for light rail. 

3. El Mirage - Spanish for "Surprise", and half the cost for the same homes. Closer to the city and 10 minutes from Luke AFB.

4. South Phoenix - Completing the 202 Loop around South Mountain plugs this area into Chandler's Price Cooridor just as easily as downtown Phoenix. Lot's of developers, vacant land, and loong time owners here.

5. Hmm, Maryvale - If Maryvale had been built with an HOA, it would be Arcadia. 3rd generation Phoenicians thumb their noses, old heads remember water problems, while people relocating from NY/LA/Chicago think the crime rates are "cute". If the budget is under $400k, join the block watch and help build the community, because there is no way this area remains inexpensive while homes to the West twice as far from downtown get into double the valuations here.

Hi @Zach Morton! For an Attorney, I think it depends on the subject matter and what side of the case you're on. I can recommend one that represents landlords, I know one that works with tenants - we have several that present at Arizona REALTORS® events. And then there are a few I've heard speak through title companies.

Don't know as much about CPA, however I do know a heck of a tax preparer/bookkeeper that keeps me out of trouble.

@Ivan Smith those seem like dynamite terms on a seller-carry deal. Most that I come across seem to be stacking the deck against the buyer to default and revert. 7.5% & 10% down seems inline with the retail mortgage market these days - but you're probably not charging origination fees, or selling off the paper right away. Also, couldn't a buyer trash the place and then default just as easily as a renter? I'm getting ready to list a 2 bed / 2 bath townhouse in Deer Valley and have been looking at valuations around the Valley. Msg me the address and I will share my price opinion with you.

Quote from @G Nijjer:

Quote from @Jeffrey Daniels:

Greetings @G Nijjer! Welcome to bp! I like this list - you may want to distill each state to a specific city that you like, and then figure any budget considerations. I'm bullish on Arizona, still I meet many people that get themselves very interested in Phoenix, AZ only to later realize what getting into our market at lower prices under $250,000 looks like and then turn their search elsewhere. Last December, The National Association of REALTORS® published 10 Housing Markets Expected to Lead the Nation in 2023 - that includes listings from 4 of the states you like. Getting a midyear update on their forecast may help to guide you. I'll be interested to see their report for 2024! I'm excited to hear about your progress!

I was thinking about these cities
Phoenix (AZ)
Austin (TX)
Charlotte (NC)
Orlando (FL)
any opinion ?

I do live and specialize in Phoenix, so I am biased 😉

But also, on a webinar right now with a local housing economist that just went over this slide.

While other states may be seeing strong job growth, I would argue that nowhere else is the majority of their growth concentrated within a single metropolitan area like we are seeing in Phoenix: 

Greetings @G Nijjer! Welcome to bp! I like this list - you may want to distill each state to a specific city that you like, and then figure any budget considerations. I'm bullish on Arizona, still I meet many people that get themselves very interested in Phoenix, AZ only to later realize what getting into our market at lower prices under $250,000 looks like and then turn their search elsewhere. Last December, The National Association of REALTORS® published 10 Housing Markets Expected to Lead the Nation in 2023 - that includes regions from 4 of the states you like. Getting a midyear update on their forecast may help to guide you. I'll be interested to see their report for 2024! I'm excited to hear about your progress!

Quote from @Taber Annable:

Quote from @Jeffrey Daniels:

Hi @Taber Annable! Sounds like you're crushing it already. I'm here in Phoenix and interested in getting some of the fresh local investors together to vibe and hear new ideas.

 That sounds good to me! Count me in. I like the idea of in person better than virtual. What are your thoughts?

Working on an invite-only event to make sure we get a good sized group together with the right energy, check your messages.

Over halfway through the year and looking at most recent Multi-Family Permit data around Maricopa County. Phoenix holding steady around 4700 of the 2022/2023 totals shown below. West Valley towns Avondale / Buckeye / Goodyear going from 317 total in all of '20 - '22 to most recent data showing 1,421 YTD June. Same 3 cities combined saw a total of 2,219 permits in 2022, while Maricopa County as a whole had 19,895.

So while YTD numbers are showing slightly increased permit action compared to 2022, do you expect permits during the 2nd half of 2023 to gather even more steam and file over 11,000 more permits to beat last year's record high?

Interesting to note, according to the Census Bureau Report about 1000 of the permits filed in the MSA so far this year have been for 2-3-4 units. Will these go directly into portfolios, or brought to market?