Dios Mio and Holy Guacamole! The Scottsdale Foreclosure Value of the Week ... is in ... well ... Phoenix. So I am violating the rules of my own construct, sue me. When I tell you about this week's obscene value in the Valley of the Sun, you'll understand why I am willing to commute.
I spent the better part of the day yesterday looking at property in the South Mountain area for a specific buyer. Odds are that we are going to move on one in a gated community in which properties were selling in the $1-1.5 million range just a couple of years ago. When I say the South Mountain area, I mean it. The backyards of some of these properties are the preserve. The homes are beautiful, but it is the lots which are irreplaceable.
Between 3000-4100 square feet, these homes had lot premiums in excess of $500-600k in many instances when these were built in 2005-2006.
There are about 8 currently bank-owned and priced between $400-500,000. Several need appliances, a couple need even more, virtually all have had the A/C's stolen, but there are some otherwise move-in ready properties in the bunch as well. Priced at 1/3 of original value, these are incredible bargains for anyone looking in this part of the Valley. Trust me, I've covered the area for the better part of 6 months looking for such deals for a specific client. I've uncovered some good buys, but nothing like these. Now that we found ours, I'm eager to find buyers for a few of the others.
Remember, when it comes to the outright theft of a bank-owned property, there is no honor amongst thieves. Give me a call or drop me an email if you'd like more detailed information. Better yet, hop in your car and meet me over there ... before Johnny Crowbar does!
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