Lorri Allen/Cronkite News
A home for sale in Tempe in Oct. 2012.
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One of the reasons behind the jump in prices has been the influx of cash buyers from out of state and foreigners. Just like before, they are inflating the value of homes more quickly than normal and overpaying to get properties. This will continue to drive prices up and, despite current low interest rates, create another bubble. Banks are contributing to the problem by holding back foreclosed properties in order to drive prices up.
Well if they go up,i might sell,as i'm the last gringo on my street,and i'm not about to learn spanish.I guess my former neighbors were a little smarter than me,they got out before the once nice neghborhood went into the dumper.
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Address: 1620 W. Fountainhead Parkway, Ste. 219
Tempe, AZ 85282
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