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Art, Homes, Market Analysis

If you build it, they will come

If you build it (out), they will come.

There were two really interesting historical perspective articles this week from the Arizona Republic. One article is about how our spread outward was driven by a constant “boosterism” by all who came here. The other article is about what early city leaders hoped for our city.

There was always a tension between building up and building out. It seems that building out won, for now.

The desire to live miles from the city in suburban living can take a toll on residents, I mean come on, there is only so much drive-time radio you can stand during your daily 2 hours in traffic to get to your job.

Instead, residents and home buyers are rediscovering the city and want to move to where historic meets modern (that’s central Phoenix for those who haven’t caught on).

With so many historic homes in the central Phoenix area at such great prices, buyers are scooping up amazing deals in incredible neighborhoods that are full of life and history. In other words, Phoenicians are looking for new life in an old home.

Data indicates that the CenPho zip codes have dropped less in home value and are returning to normal more quickly than other parts of the valley.

Since the population of the Valley of the Sun has increased at a mind-boggling pace (24% since 2000), the only way to keep up was with tract housing that had less character, and we all know how important character is in a home.

But what central Phoenix is experiencing is exciting – new restaurants and nightlife hot spots are popping up. Residents are taking notice and it is only a matter of time before central Phoenix becomes the place to be!

July 29, 2011by phxAdmin

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