"Wherever there are no houses and no sewers there arespeculators," John Finnegan, an associate in Phoenix with CBRichard Ellis Inc. tells GlobeSt.com.

Land 50 miles beyond the city's core, particularly aroundplanned transportation corridors in the southeast and west valley,is of prime appeal, Finnegan said, as speculators realize thepotential for doubling their investments within just five or 10years. "The freeway corridors will just make those areas wideopen," he said, noting that cheap land and planned freeway accessin Pinal County just east of the valley, is increasingly gainingspeculator interest. Land around Florence, about 35 miles south ofPhoenix, also is catching the eye of speculators due to the planneddevelopment of three master-planned communities, he said.

Along the valley's western reaches, land speculators are buyingup property hundreds of acres north of Sun City and west of bothSurprise and the White Tank Mountains, Josh Cameron, a salesassociate with CB Richard Ellis tells GlobeSt.com. "You have to gopretty far out to be a land speculator these days," said Cameron,noting that expensive infill parcels have driven the speculatorabout 50 miles into the barren desert.

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