Buyer beware, so STFU
The condo I bought in Tucson was nice, low HOA dues, and in a nice neighborhood. I knew there was a farm about a mile away, but was not prepared for the nice farmy smells that drifted towards us in the evening hours. Did I complain, demand a refund, or petition to shut the farm down? Heck no, I didn't talk to the neighbors to get their impressions of living there, and I didn't think that the smell could travel that far.
So I don't have much sympathy for people that buy a house that comes up for sale in the Phoenix area. Only to discover a freeway will be built nearby, or a nearby train route, or a nearby airport. Supposedly, 1/3 of the home sales are to out of state owners who will be using it as rental, so they don't care. But the rest should do their homework, or at least talk to the neighbors first. With the prices homes are, you should know what you're getting yourself into.
Here's a bit from an article by the Arizona Republic about people complaining about how they got more than they bargained for: (stupidity hat required)
In Chandler, recent tests at a 44-year-old Santan Honeywell jet-engine facility about two miles south of the city resurrected neighborhood angst over the noise and how much was disclosed to home buyers. In 2003, neighbors filed two lawsuits in Maricopa County Superior Court against builders who failed to include the jet testing in reports.
The lessons? Don't count on sellers, agents or developers to disclose everything, experts say.
Several homeowners in Gilbert's Power Ranch were upset last year when an apartment complex built in their neighborhood turned out to include low-income housing, not the "luxury condominiums" many residents said they were told about. Plans to set aside as much as 90 percent of the units at the San Clemente apartment complex for low-income tenants were on the books for at least a year before many of the Power Ranch residents had bought their homes.
"You can't always depend on what you're told," Fee said.
When I move up to the valley, I probably won't be able to buy a home right away. Depending on where I get a job, I could stay with family to build up enough savings for a decent down payment. But I will be sure to investigate any investment I make in property.
So I don't have much sympathy for people that buy a house that comes up for sale in the Phoenix area. Only to discover a freeway will be built nearby, or a nearby train route, or a nearby airport. Supposedly, 1/3 of the home sales are to out of state owners who will be using it as rental, so they don't care. But the rest should do their homework, or at least talk to the neighbors first. With the prices homes are, you should know what you're getting yourself into.
Here's a bit from an article by the Arizona Republic about people complaining about how they got more than they bargained for: (stupidity hat required)
In Chandler, recent tests at a 44-year-old Santan Honeywell jet-engine facility about two miles south of the city resurrected neighborhood angst over the noise and how much was disclosed to home buyers. In 2003, neighbors filed two lawsuits in Maricopa County Superior Court against builders who failed to include the jet testing in reports.
The lessons? Don't count on sellers, agents or developers to disclose everything, experts say.
Several homeowners in Gilbert's Power Ranch were upset last year when an apartment complex built in their neighborhood turned out to include low-income housing, not the "luxury condominiums" many residents said they were told about. Plans to set aside as much as 90 percent of the units at the San Clemente apartment complex for low-income tenants were on the books for at least a year before many of the Power Ranch residents had bought their homes.
"You can't always depend on what you're told," Fee said.
When I move up to the valley, I probably won't be able to buy a home right away. Depending on where I get a job, I could stay with family to build up enough savings for a decent down payment. But I will be sure to investigate any investment I make in property.
posted by Jenn @ 09:45
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