The American Dream goes awry on the outskirtsby Kaushik Sirkar, Chandler AZ REALTORChandler Arizona Real EstateIn the Phoenix metropolitan area, what parts of town have been hit hardest to this point in the current downturn? Yup, towns on the periphery of the Valley. Anthem way up North. Places much too close to LA to be considered part of Phoenix on the Westside. And places such as Maricopa and Queen Creek in the South and East. Read this article in today's Arizona Republic to get a feel for the trouble buyer's in Phoenix's most distant suburbs (specifically Queen Creek in this case) are currently facing.Dreams of doubling, even tripling of their homes value within a few years at current (late 04, 05 price appreciation rates). Interest only mortgages with the rate fixed for a rid...
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