03-13-2011 06:10 PM
Buckeye and Tonopah had massive building during the boom years and a significant amount of the buyers were speculators coming in with 100% financing. Their prices rose the quickest and fell the hardest. They are a distance from Phoenix so demand is not that strong from locals. A lot of the buyers now are from out of state and Canada.
07-12-2011 11:40 AM
Tonopah and Buckeye are way out in the west desert. The middle of nowhere. One post office, one grocery store and one haircut place. 50,000 homes out there. There’s nothing to do out there. And it’s a drive for any kind of entertainment. Builders gambled buying up cheap land and built homes during the boom. Now its dust filled foreclosed homes with 5 ft weeds out front. Some areas look like nuclear bomb wasteland in the year 2075. I personally don’t like seeing this. Because these homes are pretty much brand new. And also I am a investor. It scares me to see this around Phoenix.