Comments on: Gilbert: Fastest Growing Big Suburb in the Country http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/ Phoenix real estate | Search Phoenix Homes for sale | Real Estate Blog Thu, 18 Mar 2010 05:46:15 -0500 http://wordpress.org/?v=2.8.6 hourly 1 By: rorysiemshttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-39223 rorysiems Thu, 14 Aug 2008 17:29:27 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-39223 Jay, I read few of your posts and they were really nice and informative. One thing is sure that each post is having something important for real estate business. Jay, I read few of your posts and they were really nice and informative. One thing is sure that each post is having something important for real estate business.

]]> By: Arizona Breaks Into The Foreclosure Top 10 List - Home Values Could Be Affected | The Arizona Housing Bubble | Watching The Arizona Real Estate, Credit, Lending, And Mortgage Crisis From A Consumer's Point Of Viewhttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-18325 Arizona Breaks Into The Foreclosure Top 10 List - Home Values Could Be Affected | The Arizona Housing Bubble | Watching The Arizona Real Estate, Credit, Lending, And Mortgage Crisis From A Consumer's Point Of View Tue, 14 Aug 2007 18:59:05 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-18325 [...] What happens when foreclosure notices go up 240% in the fastest growing suburb in the country? [...] [...] What happens when foreclosure notices go up 240% in the fastest growing suburb in the country? [...]

]]> By: Metro Phoenix Leads Nation in Retail Construction at The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-18064 Metro Phoenix Leads Nation in Retail Construction at The Phoenix Real Estate Guy Mon, 13 Aug 2007 19:44:10 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-18064 [...] AZ is the fastest growing large suburb in the [...] [...] AZ is the fastest growing large suburb in the [...]

]]> By: John L. Wake - Realtorhttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-17381 John L. Wake - Realtor Thu, 09 Aug 2007 07:34:41 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-17381 "Interestingly, I find no mention of this latest growth study in any of the local papers."That is truly weird!The growth explains why metro Phoenix will be one of the first markets to bounce back. “Interestingly, I find no mention of this latest growth study in any of the local papers.”

That is truly weird!

The growth explains why metro Phoenix will be one of the first markets to bounce back.

]]> By: aznativehttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-17134 aznative Tue, 07 Aug 2007 20:02:09 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-17134 Hi Jay, Thanks for the reply. I've read a few of your previous posts today and really enjoyed them (especially loved the desert pics). FWIW, I absolutely agree that "affordable" is a subjective term and that median wage earners always have the option of buying below median priced homes (whether or not they are willing to is another question entirely). As someone who follows the AZ real estate market (and anything else pertinent to the state) with great interest, I'll just be happy when prices return to a sustainable level - when either wages (and rents) come up or prices come down. Call me old fashioned, but I consider home ownership vital to the health of the community - affecting everything from quality of schools to crime - and look forward to a return of the days when the question on potential buyers minds is overwhelmingly "Is this a good place to raise a family", rather than "How much money can I make on my speculative flip". I don't think the crazy run up over the last couple of years was good for the community and I don't think the crazy run back down will be either, but I do look forward to things eventually getting back to normal. Hi Jay, Thanks for the reply. I’ve read a few of your previous posts today and really enjoyed them (especially loved the desert pics). FWIW, I absolutely agree that “affordable” is a subjective term and that median wage earners always have the option of buying below median priced homes (whether or not they are willing to is another question entirely). As someone who follows the AZ real estate market (and anything else pertinent to the state) with great interest, I’ll just be happy when prices return to a sustainable level – when either wages (and rents) come up or prices come down. Call me old fashioned, but I consider home ownership vital to the health of the community – affecting everything from quality of schools to crime – and look forward to a return of the days when the question on potential buyers minds is overwhelmingly “Is this a good place to raise a family”, rather than “How much money can I make on my speculative flip”. I don’t think the crazy run up over the last couple of years was good for the community and I don’t think the crazy run back down will be either, but I do look forward to things eventually getting back to normal.

]]> By: Jay - The Phoenix Real Estate Guyhttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-17133 Jay - The Phoenix Real Estate Guy Tue, 07 Aug 2007 19:11:30 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-17133 AZNative - thanks for stopping by and commenting! You make excellent points (BTW, Wikipedia's income numbers are very close to what I hear elsewhere). The crazy run-up over the last couple of years definitely pushed Gilbert (and much of Phoenix suburbia) into a different realm, but it is still much more affordable than many places (ie: CA, FL, NV, northeast, parts of the northwest. Coincidentally, this is were a lot of the influx into the state is coming from...).And of course by definition, half of the homes out there are below the median value. (and yep, half are above). Ditto for income. To be "truly affordable" and hit that 3.5x number, I guess you'd have to have median income folks buying below median priced homes.The current listings in Gilbert range in price from $126K to $3.5M. There is pretty much something for anyone. "Affordable"? That may be pushing it by the strictest definition of the word. But MANY folks we work with remark every day how "cheap" homes are here.Often, affordibility is a matter of perspective. AZNative – thanks for stopping by and commenting! You make excellent points (BTW, Wikipedia’s income numbers are very close to what I hear elsewhere). The crazy run-up over the last couple of years definitely pushed Gilbert (and much of Phoenix suburbia) into a different realm, but it is still much more affordable than many places (ie: CA, FL, NV, northeast, parts of the northwest. Coincidentally, this is were a lot of the influx into the state is coming from…).

And of course by definition, half of the homes out there are below the median value. (and yep, half are above). Ditto for income. To be “truly affordable” and hit that 3.5x number, I guess you’d have to have median income folks buying below median priced homes.

The current listings in Gilbert range in price from $126K to $3.5M. There is pretty much something for anyone. “Affordable”? That may be pushing it by the strictest definition of the word. But MANY folks we work with remark every day how “cheap” homes are here.

Often, affordibility is a matter of perspective.

]]> By: aznativehttp://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/#comment-17131 aznative Tue, 07 Aug 2007 17:54:30 +0000 http://www.phoenixrealestateguy.com/gilbert-fastest-growing-big-suburb-in-the-country/436#comment-17131 While no one loves AZ more than I do, I'm not sure "affordable housing" can be considered a draw for the city. According to recent sales data, the median home price in Gilbert was between $285,000 and $330,646 depending on which zipcode you live in , during the second quarter of the year. If Wikipedia is to be believed, "The median income for a household in Gilbert was $68,032, and the median income for a family was $70,994." Most financial advisors recommend spending no more than 3.5 times annual salary to purchase a home in order to avoid financial hardship and/or potential foreclosure. This equates to a justifiable median home price of approximately $248,500, meaning that existing homes have anywhere from $36,500 to $82,200 to fall before housing prices in Gilbert become realistic, much less affordable. While no one loves AZ more than I do, I’m not sure “affordable housing” can be considered a draw for the city. According to recent sales data, the median home price in Gilbert was between $285,000 and $330,646 depending on which zipcode you live in , during the second quarter of the year. If Wikipedia is to be believed, “The median income for a household in Gilbert was $68,032, and the median income for a family was $70,994.” Most financial advisors recommend spending no more than 3.5 times annual salary to purchase a home in order to avoid financial hardship and/or potential foreclosure. This equates to a justifiable median home price of approximately $248,500, meaning that existing homes have anywhere from $36,500 to $82,200 to fall before housing prices in Gilbert become realistic, much less affordable.

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