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Phoenix: Ghost town of foreclosures

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  • #16
    keep in mind it is 95K USD.

    But still a nice deal if you could ever rent it out.

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    • #17
      Interesting that this has happened to Phoenix. I did a Property Investment course there with John Burley back in 2002 when Mortgage wraps were king; by the end of the course we had been out on the street and together we handed over 30 deals to our Mentor. They will have hijacked the price and wrapped them. They had two courses per year. Lots of overpriced homes with tenants (wrappers) who probably could not get a house through traditional means ie the bank. Sub-prime mortgages everywhere...was this not predictable for this town? I am not blaming John as that was the game to be in back then and he was very good at it. Other investors incl. Dolf got into the game here and the whole town became the play pen for property Investors. I'm not surprised at all to see that clip.

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      • #18
        From their Website

        Incorporated in 1881, Phoenix ranks as one of the fastest-growing cities in the nation. Here you’ll learn about the city’s arts and culture amenities, sports and recreation activities, and dining and lodging opportunities. Because of the area’s beautiful weather, you’ll be able to enjoy most activities year-round. Check out the links on this page and find out for yourself why Phoenix is such a dynamic city.

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        • #19
          and more.
          It sounds like a great place

          Did you know...
          • Phoenix covers more than 517 square miles and has a population of over 1.5 million, ranking it the fifth largest city in the country and the largest capital city in terms of population.
          • Phoenix is a premier destination, with more than 300 sun-filled days a year and average temperature of 72.6 degrees.
          • More than 50 percent of the population is between 18 and 54 years of age, which is younger than the national average.
          • In January 2000, after a yearlong, in-depth study of management efficiency by the Maxwell School of Citizenship and Public Affairs at Syracuse University, Phoenix was the only city among the nation’s 35 largest urban centers to earn an overall grade of “A.” Phoenix also was named the “Best Run City in the World” in 1993 by the Carl Bertelsmann Foundation and has earned numerous other awards for efficient government operations.
          • The greater Phoenix area is a $50 billion marketplace driven by technology. World-leading companies such as Intel, Avnet, ********, AlliedSignal, Honeywell and Boeing Company have chosen Phoenix for their corporate and regional headquarters.
          • Industry giants such as American Express, Phelps Dodge, SUMCO Phoenix Corporation, Prudential, Charles Schwab and Mayo Clinic have major operations in Phoenix.

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          • #20
            Originally posted by tpr2 View Post
            and more.
            It sounds like a great place [/list]
            The only real problem ie. constraint on potential growth is the Colorado. Only so much water in it, and Arizona's competing with Nevada and Southern California and parts of Baja Cali for the same supply. Also, it's too far inland for desalination.

            If the Americans learn how to live in a desert could still keep growing for a long while.

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            • #21
              hmmmmmm so no surf........ it's off the list!!!

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              • #22
                Originally posted by tpr2 View Post
                hmmmmmm so no surf........ it's off the list!!!
                sand surfing just isn't the same

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