by Matthew Marcus

Created on: April 29, 2009   Last Updated: May 14, 2009

The Phoenix housing market is loaded with homes for people in every walk of life. In this beautiful desert metropolis, hundreds of unique homes are tucked away in historic districts, traditional neighborhoods, and modern developments, unknown to even people that have lived in the valley for many years.

Take a look at the historic Coronado Neighborhood, set a half-mile from downtown, adjacent to Phoenix Country Club. To the outside observer this square mile of homes from the 1920s and 30s doesn't look any different from the rest of the city, yet it is filled with Tudors, Bungalows, early ranches, and Spanish revivals, all boasting front porch style with detached sidewalks, and neighbors chatting away in the front yard. Homes sold in Coronado at over $225/sf at the peak of the market, but there are some foreclosures in the neighborhood now going for as low as $90/sf. Not only are they great starter houses, but they are great rentals with the light rail, ASU campus moving downtown, and the proximity of Good Samaritan, St. Joesph's, and Phoenix Children's hospitals.

For families, north central Phoenix is a great option, particularly the neighborhoods located within the Madison School District. North Central Phoenix (roughly Camelback to Northern, and 15th Ave to 32nd Street) contains dozens of neighborhoods from the 1950s and 60s. These urban estates feature sweet smelling orange trees, slump block bungalow and ranch construction, irrigated front lawns, jogging on the canal, and/or great access to hiking in the Phoenix Mountains like Piestiewa (formerly Squaw) Peak. Foreclosures in these neighborhoods are very limited, and the value here has held much better than in other parts of the city.

Northeast Phoenix is also hot with young families right now. This portion of town boasts more modern construction from the 70s up through the last 10 years, with more square-footage, bigger yards, and swimming pools. Most of these homes are stucco ranches with 2 and 3 car garages and post-tension slabs on grade. The homes in this area have been greatly discounted, and foreclosures are more numerous in this area than in north central Phoenix. Northeast Phoenix has a very low crime rate, excellent schools, and great access for people that work in Scottsdale. Paradise Valley mall on Cactus and Tatum has been recently remodelled, and there is good access to the newer Desert Ridge Market Place and Kierland Center in Scottsdale.

Buying in Phoenix proper, rather than in the surrounding cities now makes more sense than ever. Phoenix offers character and comfort not normally found so close to the center of a city this large, and its traits are unique with canals, orange groves, city hiking trails, and swimming pools. The current market presents a tremendous opportunity for people that are in a position to buy.

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