Rise of Phoenix

Spent several days on a business trip in Phoenix last week so we decided to fly out a couple of days early to check out the local real estate scene. Phoenix has been in the news a lot recently about the stratospheric growth and appreciation. Drove by a dozen houses the suburb cities of Mesa and Gilbert where newer 1500 sq ft homes were between $260-300k. Just a year ago, these were around $170k. With so many investors from California, it's a very competitive market especially for local Arizonians who have to compete with equity rich investors. It actually seemed that some of the houses were being marketed to investors as they had tenants with over 8 months remaining on leases which is attractive to out of state investors as it makes the purchase completely turnkey. It's amazing that a metropolitan area of over 3 million people has grown out of desert. It's even more astonishing that the growth has been managed so well and that the city actually works!

Total spent Saturday 9/24:
$5 breakfast at McDonald’s at John Wayne Airport
$28 two days parking at John Wayne Airport
$36 lunch for 2 at Casey Moore’s in Tempe
$2 parking in Tempe
$30 Phoenix area Thomas Guide and drinks at liquor store
$4 drinks at 7-11
$15 drinks at Circle K
$8 ice cream at The Arizona Biltmore
$11 dinner for 2 at Jack in the Box
$10 snacks at Rite Aid

Sunday 9/25:
$23 breakfast for 2 at The Phoenix Cafe
$7 coffee for two at Seattle’s Best
$320 lost at blackjack at Indian casino
$25 3 ties at Ross
$7 misc stuff at Target
$7 takeout dinner at Safeway

Monday 9/26:
$0 expensed sushi lunch for 2 ($55)
$0 expensed dinner ($23)

Tuesday 9/27:
$0 expensed breakfast ($7)
$0 expensed lunch for 4 ($51)
$0 expensed dinner at Chili’s ($13)

Wednesday 9/28:
$0 expensed lunch for 5 ($72)
$29 get well flowers for sister
$25 dinner for 2 at Fire Dance
$18 drycleaning

Thursday 9/27:
$16 treated colleague to lunch
$0 leftovers for dinner

Friday 9/30:
$135 rental house ad
$3 takeout lunch from Circle K
$23 2 medium pizza from Domino's
$165 broker license
$120 mail order prescription drugs

Saturday 10/1:
$0 leftovers for lunch
$15 haircut
$19 dinner for 2 at Macaroni Grill
$0 2 movie tickets (free from credit card rewards points)
$8 hotdog and drink at theater
$460 big room rug and table runner at Pier 1 Imports (almost bought this exact rug a month ago when it was $700 but now on sale for $420!)

Sunday 10/2:
$0 leftovers for lunch
$80 stuff at Lowe’s home improvement
$125 groceries and misc at Costco
$26 more groceries at Ralphs (saved $9 with coupons)$2700 cement patio and walkway for rental house
$0 prepared dinner party for 5