Real Estate: What you get for your moneyPosted: Updated:
PHOENIX -- Housing prices are on the rebound, but exactly what can you get for your money these days?
Chacha Olmos recently purchased a new three-bedroom, two-bath Mesa home for her and her family.
"It's called a blended family," Olmos said. "My dad lives with me part of the time and my granddaughter, who's asleep in one of the spare bedrooms."
Olmos fell in love with the home for many reasons.
The location and the price range of $180,000 to $200,000 was what Olmos was looking for.
Real estate broker Nicole Hamming said that everyone looks for that particular price range.
"Median price range right now is about $185,000," Hamming said. "That pretty much can buy you a single-family home in most parts of town."
If that's the median price here in the Valley, what exactly can you get for that?
"The part of town you're in might dictate how big the property is," Hamming said.
Hamming and other real estate buffs say you'll probably get the biggest home for your money in Maricopa.
For example, a newer two-story home is $180,000. It has 3,100 square feet, four bedrooms, two and a half baths, granite counter tops and a three-car garage.
In Tempe, however, you won't get much for the same price.
For $185,500, you get a basic 1,000-square-foot home with two bedrooms, one and three-fourths baths and a pool for $180,000.
In Chandler, a single-story 1,500-square-foot home with three bedrooms and two baths is going for a little more than the Valley median price of $189,000.
Like most property in the East Valley, it's a little smaller with not that many upgrades.
In Gilbert, a 1,700-square-foot home with a standard kitchen, four bedrooms and three standards baths is listed for $190,000.
In Peoria, a 2,000-square-foot home with four bedrooms, two and a half baths and a decent yard size is $180,000.
Phoenix doesn't have many homes for the median price of $185,000.
In west Glendale, a, 1,800-square-foot home with a remodeled kitchen, three bedrooms, two remodeled baths and a swimming pool is selling for $175,000.