Good Buys in Aviano
As of this morning there are 23,755 active listings for single family homes in the Valley.
There are 2772 listings for bank owned and 9341 short sale listings. While any foreclosure
or short sale is sad and devastating to those involved, what is the bigger picture? The tax
man just sent out 1.5 million tax bills so lets say there are 1.5 million homes in the Valley.
2772 is a tenth of one percent of the homes in the Valley. Short sales are less than 1%
of the homes in the Valley. When I read the paper it seems that the our entire real estate
structure is going to give way under the weight of this problem and clearly that is not so.
We have had in Aviano 3 homes flipped by investors who bought the home at the trustee
sale and turned around and listed it for a larger figure and got it. While some might find
this offensive, this is a very healthy sign for our micro economy in Desert Ridge. It means
folks think prices are rising and values will increase. No investor buys something thinking
the value will decrease - at least in real estate. When homes come on the market in Aviano
they are absorbed quickly and usually with multiple offers. Last year you could swing a dead
cat around here and likely not hit a buyer. Now it is a freak show of showings and multiple
offers with people bidding up prices.
What are good buys right now in Aviano? The short sale Tarragona at 3814 E. Patrick Ln is
priced at $425K and has 4 bedrooms, 3 baths in a 2831 sq ft home. The normal sale Venezia
at 3931 E. Daley Ln is priced at $429K. Great location and home - I am very surprised it has
been on the market 14 days. Both are single level homes and neither has a pool. There are 2
homes, a Brezza and Velez that back to 40th St but are priced at $415K and $420 which is
where the market is at right now. They are priced correctly. There are also at least 3 homes
that are overpriced in Aviano but if they are not really competition for the buyers dollar that leaves
fewer available which helps stabilize prices. Buy now; a weak dollar, inflation that increases
interest rates and lack of job creation spell a rough 2010 in my mind. Scary to say, this may
be the calm before the storm.
Tags: aviano, desert ridge, phoenix, real estate, villages, toll brothers, Arizona
