• Home
  • Blog
  • Contact
  • Facebook
  • Twitter
  • Google +
  • Flickr
  • You Tube
  • Nick Bastian

Rail Life

Phoenix Light Rail News and Information

  • About RailLife
  • Events
  • Homes Near Light Rail
  • Phoenix Light Rail Map
You are here: Home / Homes Near Light Rail / Money is Cheap Cash Still King

Money is Cheap Cash Still King

February 4, 2012 by Nick Bastian Leave a Comment

During this time of record low mortgage rates, many people still seem to be surprised when they hear of how many homes are selling for cash.

Recent numbers released by the Arizona Regional MLS show that 2011 saw the second highest number of home sales in the last decade, which was surpassed only by the “insanity” that was 2005. Yes, really.

2011 saw 100,959 home sales in our market. Of those sales, nearly half ( over 47,000 ) were CASH sales.

Cash Still King

Investor activity high:

Of the homes sold in our market, 87% of them were under $200,000 purchases. Of that 87%, we see that a total of 63% of 2011 home sales were below $100,000! Investors are snatching up homes like crazy. Heck, remember 2005?  You were hard pressed to find anything for less than $100,000. For now, you can find some “affordable” properties along the line. Yes, for the most part you will be paying quite a bit more for a home along the line than for one in outlying areas of town, but think about it… It’s money well spent. Time is money, that will never change.

Today, I noticed 16 of the 64 single family homes for sale within ( approximately ) 1/2 mile of a light rail station were priced below $100k. Of the 91 condos for sale near the line ( includes lofts, patio homes, etc. ), I noticed 31 priced at or below $100k.  These numbers change rapidly and sales have been many. Multiple offers and bidding wars are prevalent in this market. While the media is still perpetuating the false notion that real estate sucks, more than a few people seem to disagree.

We are talking to many parents buying homes for their kids utilizing cash AND “kiddie condo loans.” Many of the non cash sales were FHA loans, and the kiddie condo loan is a very cool FHA product for that ASU student looking to live off of campus. The map below shows just a sample of places to live along the line. Cash or not, life along the line is pretty darn cool…

View Homes Near METRO light Rail in a larger map

If you have any questions or comments, “Just Call Nick!”

Photo / graphic by Arizona Regional MLS

Filed Under: Homes Near Light Rail

About Nick Bastian

Nick Bastian is a 29 year veteran of the real estate industry and can be reached at 602-803-6425. You'll also find him sharing real estate info on his web site and hanging out onTwitter.
Family man, lover of life, maker of friends. A bit of a geek, long time Tempe real estate guy just havin' some fun. What's your story?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RailLife

Thanks for visiting RailLife.com! We want to be your resource for all that is light rail in Arizona. Here, we share information about “life along the line.” Feel free to cruise around and to bookmark the site as information is added or changed often!

RailLife Uber Code

Good for $20 off your first ride with Uber! Use Promo code: RAILLIFE OR click here to get an Uber account: RailLife Sign up code

Search RailLife

Search for Homes

Looking for a home? Search NickBastian.com for your future home.

Homes Near Light Rail

40 Listings
602 W TURNEY Avenue, Phoenix, AZ 85013

$629,000 602 W TURNEY Avenue
Phoenix, AZ 85013

Front Elevation

$475,000 2010 W HAZELWOOD Street
Phoenix, AZ 85015

511 W COOLIDGE Street, Phoenix, AZ 85013

$422,000 511 W COOLIDGE Street
Phoenix, AZ 85013

529 W 3RD Place, Mesa, AZ 85201

$380,000 529 W 3RD Place
Mesa, AZ 85201

Front of home

$1,595,000 23 W PASADENA Avenue
Phoenix, AZ 85013

420 N 11TH Street, Phoenix, AZ 85006

$529,999 420 N 11TH Street
Phoenix, AZ 85006

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

Lakeside Living

8 Listings
420 W 1ST Street, 217, Tempe, AZ 85281

$440,000 420 W 1ST Street, 217
Tempe, AZ 85281

945 E PLAYA DEL NORTE Drive, 2007, Tempe, AZ 85288

$449,900 945 E PLAYA DEL NORTE Drive, 2007
Tempe, AZ 85288

140 E RIO SALADO Parkway, 1005, Tempe, AZ 85281

$480,000 140 E RIO SALADO Parkway, 1005
Tempe, AZ 85281

140 E RIO SALADO Parkway, 203, Tempe, AZ 85281

$1,050,900 140 E RIO SALADO Parkway, 203
Tempe, AZ 85281

420 W 1ST Street, 323, Tempe, AZ 85281

$460,000 420 W 1ST Street, 323
Tempe, AZ 85281

945 E Playa Del Norte Drive, 1015, Tempe, AZ 85288

$485,000 945 E Playa Del Norte Drive, 1015
Tempe, AZ 85288

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

RailLife Posts

Looking For A REALTOR To Rock The Rail Life

Nowhere To Eat In Downtown Mesa

Could Coyotes Help Expand Tempe Streetcar?

Scott Smith Remaining as Valley Metro CEO

Banta Lawyers Up – Sues Valley Metro for $1.65 Million

© 2023 · RailLife · Developed by Marketing Press