TMP equity was up $6K this month but that covered up a lot of ups and downs and strange valuations in the estimating websites (Redfin.com, Zillow.com, Realtor.com). We will leave those aside for now and keep pressing forward.

Last month we reported:

TMP is looking forward to a great 2025. We’re planning on selling the house on 29th Ave, bought for $246K in Feb 2021. And maybe, the house on Valencia, the first TMP buy in Jun 2019 for $197K. Yes, five years ago you could buy a “good” 3 br/2ba house in Phoenix for under $200K. Those days are long gone.

We did put 29th Ave on the market at $325K. After a bit of haggling, we got a full price offer and a bunch of low ball offers. The home inspection was last week. There are eight items on the ‘fix it’ list.

So, now the big question is where to deploy the equity. This is a 1031 exchange, so the gains are tax deferred if reinvested per the 1031 rules. Our original intent was to buy two houses, maybe in South Carolina as we did last year on Myers Lane. That is still a possibility. Our agent there, Adam Taylor sent us a listing for a ‘fixer upper’. That might be one leg of the exchange. And the relatively low price would make it more feasible.

The other option is here in Phoenix. The ‘west side’ is exploding. This is on the I10 freeway on the way to Los Angeles. Huge warehouses and distribution centers have be built on the 303 Loop Freeway that intersects I10.

“Metro Phoenix’s growth has shifted to the west and will be heading that way for decades.”

“A land and housing forecast presented by the Land Advisors Organization on Tuesday, Aug. 29 revealed that a predicted 55% of Arizona’s growth over the next 10 years will be in the West Valley.

An estimated 920,000 new residents are expected to move to the metro Phoenix area over the next ten years, requiring 340,000 new single family and multi-family housing units.”

“But it’s not just Buckeye that is emerging from the shadow of Phoenix. The entire West Valley has evolved from a being a region once perceived as a farming community and retirement destination into one one of the world’s economic development hot spots, attracting billions of dollars in investment, fostering an environment of innovation, attracting technology giants and becoming the go-to destination in Arizona for new residents to call home and businesses looking to start, grow or expand operations.”

“AZ’s Largest Industrial Spec Building Coming to West Valley”:

We are also planning to sell the house on Valencia that we bought in 2019. There is quite a bit of equity there. Options include South Carolina, the 303 area above and Coolidge, located southeast of Phoenix. As you remember we almost bought a new build house there in 2021. More on the potential of Coolidge in the next post.

In the meantime, we have been keeping busy. And we made flaming filet mignon with baked potato: