It’s simple economics – prices over corrected and investors are bidding pricing up. We’re seeing the same activity happening here in the low-end in the Bay Area.
The price of homes in areas where schools aren’t relevant (aka low scoring schools) are selling at the 2000-2001 levels and those where schools are high scoring are selling at the 2004-2005 levels.
From DS News
The Arizona capital of Phoenix was, without argument, one of the hardest hit markets by the housing crisis, with home values plunging nearly 60 percent from 2006 through mid-2011 and foreclosure filings soaring. One analyst says it wasn't too long ago that Phoenix was considered ground zero of the housing market's collapse, but now, it's on a path to recovery that's considerably outpaced other distressed markets. So what's going on in the Valley of the Sun that's strong enough to lift the nation's sixth most populous city from the depths of the downturn? » Read More
SUNIL SETHI REAL ESTATE