Sun Corridor

The Sun Corridor

The future is bright for the Sun Corridor. According to a new report released by the Brookings Institution on July 22, 2008, the Phoenix metropolitan area will be the focus of major growth and development over the next 30 years. The Sun Corridor is expected to draw approximately 5 million new residents over that period of time which equates to over 150,000 new residents each year.

The think tank further noted that in order to accommodate this tremendous growth Phoenix will need to further develop its transportation infrastructure and in particular the Phoenix-Mesa Gateway airport.

What does this mean for real estate? With home values currently depressed, this report affirms that now is the time to buy real estate in the Sun Corridor and particularly in the East Valley. While more houses will be built to accommodate the millions that will move here in the next few decades, those houses will be built further and further away from the epicenters of the metropolitan area. We saw this starting to happen at the end of this most recent boom with the development of Maricopa, Anthem and Florence. However, in real estate the key is and has always been location, location, location.

Right now it the perfect time to get a good deal on a home with a great location. With the 202 freeway now complete, homes within a few miles of the freeway will remain in demand for years to come. Similarly, with a larger focus on developing the Phoenix-Mesa Gateway airport, homes in and around the airport (which also happen to have great freeway access) will also retain their prominence.

Whether you are interested in buying your first home, upgrading your current home or purchasing investment property, we would be happy to help you navigate your real estate decisions. The verdict is definitely in and the Sun Corridor is the place to be. Don't miss this rare market opportunity to get a great home in a great location at 2008 values.

John Karadsheh, a Las Sendas resident, is a licensed REALTOR®, with Coldwell Banker Trails And Paths Premier Properties. He is also an Accredited Buyers Representative and a Certified Residential Specialist. You can contact John with any of your real estate questions. Call him at (602) 615-0843, or go to his Web site at www.BuyAndSellAZ.com.