This isn’t an official definition. I’m not sure there is one. It’s just what I use as shorthand for a certain type of property.
-
3-4 bedrooms
-
2 bathrooms
-
about 1200 to 1600 square feet
-
small yard
-
usually located about 20-30 miles from anything you can reasonably call ‘downtown’
-
almost always in a master planned community, i.e. there is a Homeowners’ Association which charges fees and makes rules for the community
Like I said, not an official definition, and you’ll see there are a lot of qualifiers in my list (sometimes, usually, often). Take it for what it’s worth.
What about pricing? This isn’t a scientific survey, but lately we at The Phoenix Agents have been helping folks buy these houses for between $60,000 and $150,000 in various parts of the Northwest, North and Southwest Valley. The lower the price, the harder it is to find a house that’s inhabitable which the investor buyers haven’t already made multiple cash offers on.
Homes that fit this description often make great purchases for first time buyers, and often fit the bill for investors too.
Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.
Other posts you might like:
{ 1 comment… read it below or add one }
The key word that hit me was “inhabitable”.
Our local chapter of Habitat for Humanity in Northern Virginia has a tough time finding reasonably priced land to build homes, but it sounds like Habitat could do a world of good in Phoenix by renovating those un-inhabitable homes that even the investors pass over.