Just out of curiosity I ran a search for single family homes, not including manufactured homes, under $40,000 and found that there are currently 828 such homes on the market. The entry level home in this category is an REO (bank owned) property located at 110 W 6th ST Eloy, AZ 85231 Click to view listing(s), asking $9,900. To put this in perspective, the average cost of a new car in 2008 was over $27,000.
The least expensive home in Phoenix proper is located at 2624 W. Washington St. Click to view listing(s) This is another REO and the asking price is $13,500, it was built in 1946, has 3 bedrooms, 3 bathrooms and 1,095 sq ft. If you could find 100% financing at 6%, your Principal and Interest payments would be just under $81 per month. This home sold for $33,000 in 1990.
For information on selling your home on the MLS & Realtor.com for only $295, please go to www.295List.com or call 602 821-8358.
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