South Scottsdale Growing Pains
Scottsdale’s south mirroring pricier north, but changes may force out current residents…
Residents of South Scottsdale are shocked at the big increases in home prices that are occurring there with the redevelopment of the area.
Although the city officials are pleased at the quick turnaround in South Scottsdale, they are also dealing with the unintended consequences: a city where teachers, firefighters and regular people can no longer afford to live, an elderly population facing dispossession and growing traffic concerns.
The median sales price for South Scottsdale increased 11.8 percent during 2004, to $189,000. In August 2005, the median home price was up 54 percent, or more than $100,000, to $291,500!
Find out more about the real estate market conditions, trends and homes for sale in South Scottsdale Arizona.
Comments
2 Responses to “South Scottsdale Growing Pains”
It’s getting really hard to afford to live here anymore. While you’ve written a great article, there really isn’t an easy answer for those of us living here near the Scottsdale Arts District.
I’ve been renting since I moved to the area in 2002 and now I’m finding that my rent is going up beyond my current ability to pay. So, I’ll need to rent somewhere nearby vs. living in South Scottsdale. I sure wished I would’ve bought back when the area was more affordable…
Any advice from your team or anyone else who’s reading this?
Best advice I can offer is to buy as soon as you possibly can. I remember when I started real estate back in 1994, homes were selling under $100,000 all day. In fact, once the median price hit $100,000 I remember thinking “How is anyone going to be able to afford a home now?”.
Lesson I learned: prices will continue to rise over the long term, so buy as soon as you can. You’ll be very happy you did buy when rents go up again and your mortgage payment doesn’t! And,