If you follow my Housing Market report, you will know the answer is just about anywhere. Let’s look at Maricopa County’s 14 largest markets: According to ARMLS data through August 2010, the median sales price is below $150,000 in 9 of the 14 markets. In every market, homes priced under $150,000 represent a fair (if not dominant) share of Active listings. The chart below shows the breakdown, based on ARMLS data from today:
OK, so you can buy in any of these markets for $150,000…the next question is what do you get for $150,000? It depends: property type, year built, room count, amenities are just some of the many factors that will determine where you ultimately purchase your home. The key is to find the right market to match all of your needs; that is why having a great Buyer’s agent is important, because the more markets he or she knows about, the more buying options you the Buyer will have.
For example, you may tell me that you want a 4 bedroom house with a pool in North Scottsdale, but if you budgeted $150,000 for your purchase, I know the likelihood of finding that house is next to nil. Having said that, if through our consultation I find out location is not a primary factor, and because I work throughout the other markets, then I can locate the home that matches your needs elsewhere. For more information about Phoenix and the surrounding markets, follow my blog at http://www.livinginphoenix.net , or email me at firstname.lastname@example.org.