Posts Tagged ‘desert mountain real estate’

Turn Back the Clock on Bank Owned Homes in Desert Mountain Scottsdale

Monday, May 30th, 2011

It should come as no surprise that real estate values in Arizona have decreased dramatically, but the fact that almost all homes in Desert Mountain Scottsdale have decreased in price as much as 40% – 60% is a shock to most.  Just 5 months back, there were numerous bank owned homes in Desert Mountain and short sales in Desert Mountain and very few buyers for them.  It was not uncommon for houses to be on the market, at prices that seemed unbelievably, to not sell for years.  Then the opened for Desert Mountain bank owned homes, Desert Mountain foreclosures and Desert Mountain short sales.  

We literally went from no buyers for these properties to over 31 offers on one recent home.  Are property values in Desert Mountain skyrockettingincreasing dramatically???  One would think they should be or would be, but the truth is they are not.  It may be fact that a home in Desert Mountain that just sold for $1,500,000 could easily fetch $1,650,000 or $1,700,000 with the right buyer.  Most of the time, this buyer will need to be a cash buyer!!!  Why you may ask???  Well if there is a bank involved, they will most likely require an appraisal before they lend any money on the property, and the home better appraise for the agreed sales price.  

I want to share a special link with you for Desert Mountain Bank Owned Homes.  I have access to special map based home search website and I think you will find it very useful.  Even if you are not searching for bank owned homes in Desert Mountain, you can adjust the criteria and do a search for just about anything you would like.  What i like about this map based home search program.  First of all, you have access to the full data from the Arizona MLS.  No information is withheld.  You have the property address, the taxes, the HOA, the listing office, everything.  You will also find a satellite view function so you can zoom right in on the surrounding area if you like, or see that a specific house backs to railroad tracks or a main road.  The mapping function also uses Google Street View…  Never seen it, check it out, it is amazing.  

The Valley Solutions Team at Solutions Real Estate also has many websites dedicated to Desert Mountain Real Estate. As usual, we hope our friends and clients find this information helpful and informative.