!! EUREKA !!

http://www.homes.com/Content/ListingSearchResults.cfm?City=MARICOPA&State=AZ&Bedrooms=&FullBaths=&MinPrice=50000&MaxPrice=100000&PriceRange=&AmenitiesList=&PropType=P&TotalRecs=142&MinSqFt=&MaxSqFt=&LotSize=&MinYear=&MaxYear=&Canada=0&OrderBy=PRICE%3AA

I still don't believe how low these prices are..

On our last trip to Arizona, we visited a small town named Maricopa about 30 miles outside of Phoenix.. Coincidence, Kendra lived there till she was 7.. Her dad was a dairy farmer down there 15 years ago before he became a lawyer.. Back then, Maricopa was a rural farming community of 400 residents, but recent development has replaced hay fields with countless cookie-cutter homes and a population of 40,000ish..

With the economy as bad as it is, the 'housing-boom' in Arizona has gone 'housing-bust' over the last 2 years.. the housing market in Maricopa is saturated with homes that were funded by investors, built by builders, but no one wanted to buy them.. everyone involved had to dramatically drop prices or declare bankruptcy.. hundreds of homes were built in Maricopa, but literally NO ONE has lived in them because they simply could not sell for the asking price.. The investors and builders turned the property over to the banks after filing bankruptcy, and now various banks own almost 1 of every 10 homes in Maricopa.. They are looking to sell the home for CHEAP to salvage whatever they can, thus creating an incredible buyer's market..

Long story short, there are hundreds of homes in Maricopa that are selling for 40% of what they were originally anticipated to sell for..

We looked around, and found several dozen 3br ramblers for under 70,000 that originally listed for 175,000.. 30 year mortgage = 450 a month.. that's less than what we pay now for RENT in Provo..

BINGO!!

Kendra's brother Craig lives there now, and he got an incredible bargain on his home, paying 130,000 for what was originally listed at 300,000.. We are seriously considering setting up roots down there after the summer.. Kendra has already met with a teacher recruiter (who is a BYU alumni) from a charter school in Maricopa.. He was favorably impressed with Kendra (as he should be) and the PE teacher position at Legacy Traditional School is available..

If this summer program goes as it should, we will have enough for a down payment and we'll be HOMEOWNERS in Arizona this September.. VERY exciting..

That's it for now.. Have a wonderful day :)