There was recently a new foreclosure in Desert Mountain that has demonstrated another example of inappropriate home pricing. Many buyers assume that all foreclosures are well priced and a good deal. This is not always true. If priced appropriately, Desert Mountain Foreclosures can be a great find. However, some banks and outside Realtors just don’t get that. This home is another example of somebody that does not have a grasp on the current market in this community.
It was previously on the market as a short sale and priced at $1,400,000 but is now back on the market as a Bank Owned Property for $1,999,900. How does the bank expect to sell this home for $500,000 more as a foreclosure? It is NOT worth $2 million. I have been in this home and in my opinion, it is outdated and will require a lot of work. Sure it is in Saguaro Forest, so it has beautiful views but so do a lot of other homes in Desert Mountain at this price point. The buyer will have to spend a lot of time and money to get this home back to its potential. Most homes in Desert Mountain are purchased as vacation homes so this is not for the average buyer.
As a Desert Mountain Real Estate specialist I feel that it is very important to be completely up front and honest with my clients when it comes to purchasing and selling their homes. Feel free to contact me with any of your questions about Desert Mountain Properties at (800) 300-0263 or by e-mail, Carmen@ScottsdaleExperts.com.
Carmen Brodeur BA, LLB
North Scottsdale Real Estate Agent / Former Attorney
Carmen@ScottsdaleExperts.com
1-800-300-0263
www.DesertMountainHomesOnline.com
View all Desert Mountain Homes in the village of Saguaro Forest. This link will automatically update.
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(all data current as of
2/8/2012)
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$1,950,000 : 9906 E Sienna Hills Drive, Scottsdale4 beds, 4.50 baths
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$1,995,000 : 41811 N 102nd Way, Scottsdale4 beds, 4.50 baths
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$2,095,000 : 9824 E Honey Mesquite Drive, Scottsdale4 beds, 4.50 baths
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$2,300,000 : 9937 E Honey Mesquite Drive, Scottsdale4 beds, 5.50 baths
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$2,395,000 : 41542 N 101st Place, Scottsdale4 beds, 4.50 baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
Copyright © 2010 by Carmen Brodeur – All Rights Reserved – Desert Mountain Foreclosures – Another Example of Inappropriate Pricing
{ 1 comment… read it below or add one }
Hopefully the market is going to stabilize sooner than we think.