2 Homes in Anthem- must sell!

[marathon_mom]

Friend's hubby got transfered to Memphis. Please give info to anyone you know who might be insterested. Both are beautiful homes. Thanks. MM

One and only Spirit model available in Anthem. Largest model available in Anthem – 5 bedrooms, 4 ½ baths, nearly 5000 sq ft. Only lived in 4 months. Gorgeous travertine throughout the downstairs. Granite countertops, stainless appliances. Beautifully landscaped – you can easily add a pool. No neighbors behind, gorgeous view of the mountains to the East of Anthem – eastern backyard. HOA dues include full use of the community center and parks.
$799,000. Owners are being transferred and need fast close.

http://www.realtor.com/FindHome/HomeListing.asp?snum=2&frm=bymlsid&pgnum=1&mls=xmls&js=off&fid=so&vtsort=&ss_aywr=&locallnk=&poe=realtor&ct=&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=99999999&mnbed=0&mnbath=0&typ=1&typ=2&typ=4&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=2526029&sid=06C9847ABB40C&snumxlid=1059493181&lnksrc=00002

Gorgeous Rialto model in the highly sought after Traditions neighborhood. Move-in ready. 4 bedroom, 3 bath. Formal living, Formal dining, office, living room, huge kitchen and media or play room. Maple cabinets through-out with handles. Corian counters and sink in kitchen. 2 car garage. Play room can easily be reconverted to 3rd car garage. Gorgeous pool with Florida falls and extensive acrylic decking.
No one backs this beautiful home. N/S exposure with views of Gavilan Peak and Daisy Mountain. Close to shopping, schools and community center. HOA dues include full use of the community center and parks.
$484,900. 4% co-broke for buyer’s agent for close by 7/15. Home is vacant. Owners are being transferred and need a fast close. This home is open this weekend. Contact realtors for more information.

http://www.realtor.com/FindHome/HomeListing.asp?snum=1&frm=bymlsid&pgnum=1&mls=xmls&js=off&fid=so&vtsort=&ss_aywr=&locallnk=&poe=realtor&ct=&zp=&primaryZp=&nearbyZp=&mnprice=0&mxprice=99999999&mnbed=0&mnbath=0&typ=1&typ=2&typ=4&mnsqft=0&exft=0&exft=0&exft=0&exft=0&lid=2526024&sid=06C986CDC393C&snumxlid=1059493314&lnksrc=00002

 

[CardFan67]

Holy crap... 800 k with a HOA....

That's sounds like California craziness...

 

[nothin' but net]

Isn't there a Hungry Howie's near there?

How large are the garages? Not measured in square feet, but in Pay Phones?

I only ask because I hear that is a payphone hotbed and am considering a change in careers.

 

[Divide Et Impera]

Good luck to you on selling those, MM. I doubt you will get anything near a quick sale in this market, especially in those price ranges. The amount of people who can afford that much home/mortgage is very small and there are A LOT of high end listings all over the place. Couple that with gas prices and people are more interested in moving closer into town because of that. There was also an article the other day in the Republic that noted a trend of people downsizing. I don't know the full effect of this downsizong trend, but this kind of press can only negatively affect the pricing as people now think that your large home is not as desirable as you think.

I hope you can get these done quickly, but don't hold your breath. They look like beautiful homes and if I were in teh market for an $800,000 home, I might go look at that first one, but I already have a 3000 square foot home with tons of upgrades, so I don't really have an interest in the second one.

On a side note, I don't know what their timeframe is nor do I know what their equity position is, but maybe they should consider an equity bridge loan if there is no contract on the home before they transfer. Let's say they have to move in 3 months and in 3 months, there is no contract on the home. I could set them up on an equity bridge loan where they take out the equity proceeds from their house (up to 80% or 90%, I forget which) so they can buy another home in Memphis and only have one payment for a year. The equity bridge is paid off from the proceeds from the eventual sale of this home and prevents them from having to do double mortgage payments for a year.

Also, my branch manager has some STRONG connections in Tennessee in the real estate market (Realtors and lender). He worked out there for 5+ years at one of the biggest brokerages and still owns a home and has great ties out there. If your friends need some help on that front, PM me....

 

[marathon_mom]

Thanks SOH. I know there won't be any quick sales. Last I heard, there were over 700 homes for sale in Anthem. Thank God I'm not in their position. I'd hate to be paying two hefty mortgages with little hope of selling. At least his boss is flexible as to when they move to Memphis.

I'm just the messenger. I told her I'd post it. Best I can do.

 

[marathon_mom]

Holy crap... 800 k with a HOA....

That's sounds like California craziness...

It would appear that the crazy Californians are who created this lovely real estate market in AZ. They make a small fortune on their 2 bedroom bungalow in Cali, then move here & are able to pay more with their huge down payments. Forcing home prices thru the roof.

I only say this because 1) every realtor I know has told me this and 2) my friends that are now in this prediciment, did exactly that. Came from Cali. with money bags. Now it's dwindling away on 2 mortgage payments.

 

[HeavyB3]

800k on a teachers salary.. Yeah I can afford that.

 

[Ryanwb]

800k on a teachers salary.. Yeah I can afford that.

That mortgage payment would only be like $5000 a month

 

[Scott MS]

Housing market sucks right now for sellers. There are 3x more houses for sale in Phoenix right now than the average.

As Seeds of Hate stated, tough market right now. Houses purchased last year are now worth about 90% of that.

.

 

[Dback Jon]

Housing market sucks right now for sellers. There are 3x more houses for sale in Phoenix right now than the average.

As Seeds of Hate stated, tough market right now. Houses purchased last year are now worth about 90% of that.

.

So it is a good time to buy?

 

[jw7]

So it is a good time to buy?

Hard to say Jon. About 2 years ago was the time to buy.

Since then, the real estate market has gone absolutely nuts here. Housing prices went up 40%, tons of people speculating on turning property into rentals, buy and sell "flipping", and apartments are being turned into condos.

But now with interest rates going up, the speculators are getting burned. So may be a slight drop in prices, but a down real estate market tends to mean the property is on sale longer rather than a drastic drop in price.

 

[Scott MS]

So it is a good time to buy?

Yes, but lots of sellers are stubborn. They are fixed on the prices of about a year ago so they may consider lower offers to be "low ball".

Supply far exceeds demand so the buyer is at an advantage.

 

[abomb]

Thanks SOH. I know there won't be any quick sales. Last I heard, there were over 700 homes for sale in Anthem.

I was told on Friday night that we are nearing 800 active our here. Still the best place to live in the Valley.

 

[CardFan67]

Yes, but lots of sellers are stubborn. They are fixed on the prices of about a year ago so they may consider lower offers to be "low ball".

Supply far exceeds demand so the buyer is at an advantage.

Stubborn is an understatement... The sellers are nuts, they missed the larger part of the bubble and don't want to budge.... There is a p.o.s. house near me that is falling apart, if you stand in the living room you have three quarters of a ceiling, the rest is sky, I figured it was perfect for me to get into, my only affordable choice... The price was 8k less than a turn key 4 houses down...

Well now it has been 7 months and they finally lowered the asking price by another 5 k... So now it is down to 535,000... for 550,000 I could get one that needs no work at all...

This house has been vacant all this time too... I hope these people take it in the shorts...

 

[MigratingOsprey]

yep .. seems to be a weird mix of stubborness and panic

you seem to have some that are way too high, trying to get big growth over last year mixed with those that are undercutting themselves

prices are flat from last year and the average day on the market is still better than it was in 2002 or 2003 by around 16 days - this isn't a bad market, but with 2004 being so crazy, it seems people have forgotten (or never learned) how to act and that is what is hurting this thing more than anything else

 

[CatBoxBackFan]

I just sold my parents Scottsdale home in one week,granted it was paid for twenty years ago and we had some flexibility on the price.They paid 18K for it in 62 with a mortgage of 108.00 a month.We got 350K for it,could have gotten 400K a year ago.

 

[Divide Et Impera]

Glendale home with a view of the stadium from the backyard for sale:

You must be registered for see images

2800 sq ft
4bed/3bath
3 car garage
0.33 acre
pool
single level

$550,000

PM me if interested....

 

[Desert Dogs 05]

These prices are exactly why I know I will leave AZ one day. I missed the boat on buying so now I am pretty much stuck in the cycle of renting. It just troubles me how homes that were built for $120,000 a couple of years ago are somehow miraculously valued at over $300,000, some homes which are on the outskirts of town, especially Pinal County. Check out what you can get in Houston for $175,000. I've always lived in Phoenix, but I'm definitely not in love with it, and without a major market correction, I will be more than willing to leave.


http://search.har.com/engine/indexdetail.cfm?mlnum=2874984&class=1&leadid=6&sTYPE=0&backButton=Y

I look at value. I would not pay more for a car for the right to drive it in AZ, so I refuse to pay for a starter home at the current value.

 

[Bada0Bing]

But it's in Houston?

 

[Desert Dogs 05]

But it's in Houston?

Phoenix isn't exactly Honolulu.

 

[Divide Et Impera]

That's an absolutely beautiful home and that is a GREAT price, but that home does you no good underwater....

 

[Desert Dogs 05]

That's an absolutely beautiful home and that is a GREAT price, but that home does you no good underwater....

haha...Houston isn't New Orleans. No levies there. If you don't like Houston, check out Austin or Dallas..same prices, similar homes.

 

[Linderbee]

But it's in Houston?

Houston's the only place in Texas that I would ever consider living. It's a gorgeous home.

I'm in the same boat as Desert Dogs--I finally have my credit repaired enough to buy, but I don't make NEAR enough money to really be able to afford to live in a decent neighborhood in the Phoenix area. I sure could afford that home in Houston....

 

[thirty-two]

These prices are exactly why I know I will leave AZ one day. I missed the boat on buying so now I am pretty much stuck in the cycle of renting. It just troubles me how homes that were built for $120,000 a couple of years ago are somehow miraculously valued at over $300,000, some homes which are on the outskirts of town, especially Pinal County. Check out what you can get in Houston for $175,000. I've always lived in Phoenix, but I'm definitely not in love with it, and without a major market correction, I will be more than willing to leave.


http://search.har.com/engine/indexdetail.cfm?mlnum=2874984&class=1&leadid=6&sTYPE=0&backButton=Y

I look at value. I would not pay more for a car for the right to drive it in AZ, so I refuse to pay for a starter home at the current value.

interesting.. check out this link that lists the most overvalued and least overvalued cities

http://money.cnn.com/2006/06/12/real_estate/overvaluation_even_worse/index.htm

 

[MigratingOsprey]

but I'm definitely not in love with it, and without a major market correction, I will be more than willing to leave.

given all the factors (building, popluation growth, undervalued market, etc) the jump up in prices was the correction

with that said, there is a lot of good value in TX, if you can stand living there - my brother hated Houston and is back in Abq (which he also hates, but not as much as Houston) - complained about how bad all the schools were, the humidity, the bugs and constant dust/dirt