Coffee heat rising

Real estate

July 4? Really? And…then what?

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Here we are on our nation’s birthday. Strolled through the neighborhood, basically to pass the time and to eyeball the neighbors’ homes. And…well…

It’s overcast and gray and wet out there. Not raining…yet. But I reckon it will be, soon enough.

So much for watching the fireworks, eh?

Usually, a bunch of them are visible from our parts. A large housing tract to the north of us puts on quite a show. Neighbors here in the ‘Hood customarily blast the sky for a couple of hours. And the City (or some such entity) expends money and gunpowder on a big show in the central part of town.

We’ll see how that goes tonight, depending on the weather.

***

Meanwhile, today’s sight-seeing stroll suggests the ‘Hood’s property values are holding strong….and probably rising. What I saw this afternoon, hiking from pillar to post, makes me feel very glad that I did not move out to Sun City when SDXB made his escape.

These houses — and this whole neighborhood — are looking better and better. Homes are not only being maintained handsomely, they’re being upgraded, enlarged, fancified. And you can bet their value is upgrading like crazy, too.

It would appear that, as predicted some time ago, the presence of the recently installed light-rail train has indeed jacked up the appeal and the value of the ‘Hood. If that continues, by the time my son inherits this house, it will be worth a sh!tload of money. He’ll be able to sell it and invest the proceeds; or sell his own home and move in here free & clear; or sell both houses and move to…where? San Francisco?

For sure.

Or, I suppose, he could turn one of the two houses into a rental and use that real estate to generate a steady income.

Interesting, eh? 

GLUBBY Glubby Day

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Good Gawd!  High noon on a mid-June day, and…it’s 110 in the shade of the back porch! Today’s high was predicted to be a mere 108 degrees, with 38% chance of rain.

UNbelievable.

The dawg and I shot out of the house at dawn. It was already too late to be walking around out there. But tonight the temp is supposed to drop to a chilly 87 degrees.

Brrr! Better get out the jacket! 

Seriously: the only way Ruby can get her daily walk, in this kinda weather, is to take her out at sunrise, before the concrete and asphalt can heat up. Wait too long, and her little feet will be scorched.

This is the time of year when, really, I do wish I lived somewhere else. And…really…if my son weren’t here, I most surely would live somewhere else. Far, far from here!

Where would I go?

Well…the San Francisco Bay Area is whence my mother’s better side of the family emanated. Most of those folks are long gone…but the City is still there.

Given all the money in the world, I’d rent a flat in the Marina. Beautiful spot!

Given half the money in the world, I’d buy or rent a house in Berkeley: aging but handsome and urbane.

But of course, I do not have all the money in the world, or even half of it. Here in Arizona, a pauper like me (heh!) could afford to wriggle into any of several fairly pleasant venues.

One is a suburb of Scottsdale called Fountain Hills. It’s pretty expensive: upper-middle-class, close to the Mayo Clinic, near a slew of suburban amenities. Nice homes, though often cheaply built. Right now, the median listing price is just $799,000.

Yep. Must hurry right out and buy one!

Moving on… Another famously tony area is called North Central Phoenix. That’s where the Funny Farm resides: on the fringe of that district.

Here’s a one-bedroom, one-bath palace in North Central: a mere $94,500. What a bargain! An actual house, though, rather than a dinky condo? Get ready to pony up $745,000.

Every time I peruse the local real estate ads, I get more horrified.

Well, if by some miracle I can hang onto the Funny Farm until I die, M’hijito will inherit a valuable chunk of dirt. Zillow thinks my house is worth $584,000. Not much, by comparison of other Los-Angelized real estate in these parts.

But…he has expressed a desire to move to his dad’s home town in Colorado: a little burg called Grand Junction. Prices there are MUCH lower. For a fraction of what he can get for my house, he can buy a palace there.

Small town living is not to my taste, personally. But…he hasn’t spent his childhood in such a place, and so maybe as a grown man he might find it pleasant enough. Highly desirable, even. 

Coulda-Shoulda-Woulda…

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Stumbling around the ‘Hood through a superheated afternoon exercise walk, I happened to think of a long-ago near-miss in the Department of Real Estate. Videlicet: years ago — yea verily, a couple of decades ago — I very nearly bought a house in a distant suburban development called Fountain Hills.

It’s a pleasantly ritzy-titzy town — I would (and do) call it a suburb — clinging to the far east side of Scottsdale. My son had not yet moved back to Phoenix, and so the distance from central Phoenix wasn’t a concern. In fact, it was closer to where I was working — Arizona State University — than where I’m living  now. So, in some ways it would have been a practical move. And it would have put me into a piece of real estate whose value was headed for the stratosphere.

By random serendipity, I decided against that move.

And a good thing that was, since there was no way my son would have settled halfway to Payson at the time he moved back to Phoenix.

And by serendipity, too, SDXB bought a house in North Central Phoenix, just as we were becoming an Item. Consequently, I bought a house a block from his new place, and now…here I am, basically within walking distance of the kid’s house, altogether within walking distance of three major grocery markets, a doctor’s office, a dentist’s office, a computer store, a hair stylist’s, and…on and on and on!

I ended up in the middle of everything, happy to be here, and surprisingly close to my son’s place. What more could anyone want, eh?

But sometimes I do wonder what would have happened if I’d gone ahead and bought a place out there on the far side of Scottsdale.

* It would have been within walking distance of my best friend’s house: she who worked prominently and successfully at Scottsdale Community College.

* Between her influence and the that neighborhood’s relative proximity to Scottsdale Community College, I almost certainly would have landed a full-time job there.

* In Maricopa County (where we dwell), the community colleges pay exceptionally well — usually more than the university does.

* For a non-tenurable employee of the university (graduates of ASU or the UofA are ineligible for tenure in the state universities), the community college’s pay would have been much better. And a job at one of those colleges would have been much better better endowed with upward mobility than my job at ASU was.

No doubt by now I’d be retired from any such job, and living happily ever after.

* And if my son had been willing to subject himself to his freshman and sophomore years in junior college courses (not bloody likely!), I could have gifted him with two years of tuition-free college credit.

So…on reflection, one can see that moving into the community colleges would have had some substantial — even huge — benefits.

Ultimately, though…I think I’m glad I stayed with Arizona State University, glad I drifted into this neighborhood, glad I floated along here until retirement. I really do like this province of Phoenix, and like this specific part of the city. 

Real Estate Awe

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Wanna see something that’ll drop your jaw? 

Take a look at this mansion…

The place is in Fountain Hills, an upscale tract on the northeast side of Scottsdale.

WHAT A WRECK! And they want four hundred grand for it!

Hey. Fountain Hills is real tony and all that…and yeah, you could walk to the Mayo Clinic from there. But…good lord! EVERYTHING in this shack would have to be renovated, including the pool and the landscaping.

Well. I guess it tellsya: Rich people will let real estate go to wrack and ruin, too. 😀

***

But doesn’t it boggle your mind? I mean, when you consider what that place should be worth… Fountain Hills is one of the toniest subdivisions in the Valley — probably in the entire state.

I can’t even imagine letting a place like that…in a location like that!…go down the tubes.

Even if they used it as a rental, it’s hard to believe anyone with half a functioning brain cell would have turned it into a wreck.

Four hundred grand at auction. Hell, I wouldn’t give them four hundred bucks for it. Just imagine what it will cost to restore that place to a livable house in a radically upscale subdivision!

Clicking through the images takes your breath away, doesn’t it?  Really…the best you could do with this place is to level it and build a new house. And that would require you to get your hands on it for one helluva lot less than 400 grand.

Wow!!

Arrrgh!!!! I hate computers!!!!!

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Round and round and round and ROUND Robin Hood’s Barn trying to get back online and back into Funny about Money.

WHAT an AGGRAVATING time suck!!!!!!!

Dammit! Now I’m so frustrated and so upset, I’ve forgotten what I was gonna write about!!

LOL! I hate computers. 😀

Ohhh well….  On the subject of nothing much: Ruby and I hiked all over the ‘Hood this evening. Beautiful night. Beautiful houses. We’re incredibly lucky to have landed in this tract.

We walked by one especially lovely house that until recently was occupied by a gentleman who used to sit out in the front yard and putter. He was a sweetie! Apparently he and his wife moved, though…or, more ominously, one of them passed away. No sign of either resident lingers.

They are much missed.

As for their handsome house: it’s for sale.

Too close to Main Drag North for my taste — the noise would be interminable and obnoxious. So, even if I could afford it, I haven’t inquired. And believe me: that house, I could not afford! 😀

Most of the ‘Hood is well outside my price range. Ruby and I live in the low-rent precinct, which is on the top end of what I could afford. Actually, values have shot up since I bought here: what were once normal, middle-class tract houses are now priced on the high side of ridiculous.

Oh well: we’re brought back to the long-range goal: to pass this house along to M’hijito. If I can hang onto it…if I don’t get consigned to some prison for the elderly…he will inherit this paid-off shack, lock stock and proverbial barrel. That will present him with some appealing choices:

* To stay where he is (he has a nice, centrally located house) and sell or rent this house, thereby collecting several hundred grand

* To sell  his own place, get completely out of debt and move into this paid-off castle

* To sell his place, invest the proceeds in the stock market (or some such), move in here, and watch his investments grow

* To sell it all and RUN!

Interesting….

The Gentrification of the ‘Hood

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Well… Truth to tell, the ‘Hood started out gentrified.

This has always been an upper-middle-class urban neighborhood. But of late?  HOLEE maquerel!

Young people are buying up our 1950s and ’60’s ranch houses and turning them into freaking palaces. Give this trend another ten years, and real estate here is gonna be not just through the roof but hovering in the stratosphere. 

And THAT is a primary reason why I want to stay out of an old-folkerie and in my home: all the way up to the moment I die. BECAUSE I want my son to inherit what will no doubt be a very hot, very pricey piece of centrally located real estate.

Yeah: my guess is that in ten years this place will be worth twice its current value…and houses here are already absurdly overpriced.

So, whenever M’hijito gets this place, he’ll be able to move into Fancy Danville here, or sell the shack and move wherever he wants: debt-free. Yeah: the Funny Farm was paid off some years ago, over my financial advisor’s vociferous objections.

Looks like Financial Dude was wrong and I was right. If the present trend continues, these houses — now on the edge of one of the most upscale districts in the Valley — will be worth TONS of money. My son will be able to occupy a stylishly antique pile in a neighborhood of overpriced 1950s tract houses (overpriced when new! outrageous now…), or he can sell this place and retire on the proceeds.

In any event, it now appears we’ll have something to leave to M’hijito that will be worth a sh!tload of money. One way or the ‘tother: no matter what he chooses to do with it.