Price: $1.2 million
This ranch abuts the Tonto National Forest -- lots here are coveted -- and has been on the market three months, attracting one lowball offer.
Retirement communities in and around Phoenix got smacked, but not as violently as the broader market; the price drops were less dramatic and there haven't been nearly as many foreclosures.
Is this a good time to buy? Yes. Will you find a screaming bargain? You might, if you're patient and alert to the peculiar inefficiencies of the retirement market, but not as easily as you could elsewhere in Phoenix.
NEXT: Urban Oasis