Put that down! That's nacho cheese!
Well, in this case, I suppose it is yours. In this economy, who isn't interested in holding on to as much of their cheese as possible? As such, many Scottsdale home shoppers are passing on the pricier properties and heading straight to the bank-owned aisle. With values such as the ones I encounter on a regular basis, who can blame them?
The Scottsdale Foreclosure Value of the Week is located in the prime McDowell Mountain Ranch planned community in North Scottsdale. Originally developed in the early 1990s, this community is nestled at the base of the majestic McDowell Mountains and features some of the finest amenities (including community pools, walking paths, rec center, etc) in the entire Valley. Boasting million dollar plus properties in a few of its exclusive subdivisions (Trovare, Sonoran Estates, etc), point of entry cost into McDowell Mountain Ranch is typically prohibitive to many.
Today's steal is a 5 bedroom Ryland home of approximately 2600 square feet with a pool. On an interior lot which backs to one of the natural arroyos that define McDowell Mountain Ranch living, this bank-owned steal is listed at just under $430,000.
Folks, this property sold for $675,000 in May of 2006. I have not physically viewed this property as it just hit the market, but it appears to be in decent condition and includes upgrades such as stainless steel appliances, granite kitchen counters and pebble-tec pool surface.
For more information on this and other Scottsdale foreclosure bargains, contact me at paul@rayandpaul.com. To search the Scottsdale MLS, visit me at Scottsdale AZ Real Estate.
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Scottsdale, Phoenix and Paradise Valley AZ Real Estate. A Slaybaugh family tradition since 1974! We haven't sold every home in the Valley, but we're working on it!
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You're right Paul - that property does seem to be the deal of the day...great price too! - Calie
Paul - isn't it amazing the deals that are out there? I have seen many that overpaid in 2006 and those are the short sales and REO's. Great time to be a buyer!
I love the way you get away with this sort of craziness! Just dropped by to say Happy Thanksgiving too!
You are relating my experience for the past month. Homes on the market in my buyers' price range now, $375,000-$400,000 were purchased 1-4 years ago for in the $500K to $600Ks.
Amazing. I wish I were in the market for a new home today. I could easily buy my present home for a good $205K less than I paid for it.
Oh well.
I echo Lenn. I'm seeing deals out there that are outrageous. I wish I had the capital to snap a few of them up.
Sounds like a bargain for sure! We have the same sort of thing going on in SA. Most buyers are in teh 140 -160K price range, the upper 300's, 400's, 500's are @ rock bottom prices. Wish I needed a home today & not 3 years ago. KM
Calie - There are deals and there are deals. This one is a deal ;)
Sharon - Any purchase from 2005 until now, especially in instances where comps were ignored and buyers got caught up in the frenzy, falls under that purview here in Scottsdale. We are actually seeing rollback to 2004 prices in some pockets. Crazy.
Russell - Crazy is as crazy does ;) Happy Thanksgiving to you as well!
Lenn - You and me both. The rich will get richer in this market as they have the pockets to make the moves over which the rest of the populace is salivating. The irony is that the price points have rolled back into range for many first time and move up buyers, but the financing has dried up. As such, the banks have crashed prices even further. I made a good purchase in 2005, but I wouldn't mind being in the market right now in hindsight.
Chris - Let's just pool our resources. I'm good for a linen closet ;)
Kristin - I sense a trend here. Realtors are not immune to the ills of the markets we serve. Most of us bought at the peak like everyone else. There's a lesson in that.
Calie - There are deals and there are deals. This one is a deal ;)
Sharon - Any purchase from 2005 until now, especially in instances where comps were ignored and buyers got caught up in the frenzy, falls under that purview here in Scottsdale. We are actually seeing rollback to 2004 prices in some pockets. Crazy.
Russell - Crazy is as crazy does ;) Happy Thanksgiving to you as well!
Lenn - You and me both. The rich will get richer in this market as they have the pockets to make the moves over which the rest of the populace is salivating. The irony is that the price points have rolled back into range for many first time and move up buyers, but the financing has dried up. As such, the banks have crashed prices even further. I made a good purchase in 2005, but I wouldn't mind being in the market right now in hindsight.
Chris - Let's just pool our resources. I'm good for a linen closet ;)
Kristin - I sense a trend here. Realtors are not immune to the ills of the markets we serve. Most of us bought at the peak like everyone else. There's a lesson in that.
Paul,
Smart SEO positioning with this post. How's it working for you? Either way nice work.
Good thing I didn't buy 2 years ago when I was in Arizona! At least I did something right!