Price now: $82,000
Price at last sale: $235,000 in 2006
Bedrooms: 3
Baths: 2.5
This home's value has been on a roller coaster ride since it was first built in 2004. That year, it sold for less than $135,000. Two years later, as speculative investing in residential real estate hit a fever pitch, it sold for $235,000.
But the Phoenix market has been on a downward spiral since prices peaked in mid-2006, with home values falling by about 57%. In neighborhoods with high foreclosure rates like Park Meadow, the declines have been even steeper.
For some, that equals a buying opportunity, especially if the home is well-maintained like this one. The single-story ranch home has new carpets and tiled floors, as well as three big bedrooms. There are large closets as well, and double sliding doors to a shaded patio in the backyard.
For more information: Trulia NEXT: West Lawn, Chicago
