A Villages Fiore Model Closes
January 5th will be our next monthly real estate meeting. Conveniently located in the little meeting room in the big community center, it starts at 6:30 PM and lasts an hour. Casual, free, highly informative and your rear end will be in some of the most comfortable chairs known to man. See you then.
It has been eerily quiet this last week or so due to Christmas and the associated hustle and bustle. Time to put the last minute touches on the newsletter, spend time with the kids and take a breath. This last year has been interesting for the real estate market but I predict 2011 will be even more dysfunctional. Tightening credit guidelines and availability, rising interest rates and stagnant movement in the unemployment numbers will create stress for all.
Short sales continue to be a conundrum. Arizona is an anti-deficiency state so the IRS will not consider the difference between what was owed and what the home sold for as income. As long as the loan money was used to purchase the home. But if you had a second loan and some of the money was used for other things - not for the purchase of the home - then you will have a taxable issue. Conversely, in a foreclosure the difference is most often not considered income to the ex-homeowner. So the IRS is incenting folks to just walk away. Lenders might split hairs on the length of time you are in lending jail for a short sale vs foreclosure but rest assured the pointy heads regulating our financial system have it figured out.
Floorplan
Map
The Fiore model in the Villages, unit 1030, was a short sale that closed for $187,772 or $141 a sq ft for each of the 1330 sq ft. 3 floors, 2 bedrooms, 2.5 baths and a 2 car garage. Fantastic tile work in the master bath shower and highly upgraded cabinets throughout. Cash sale in building 3.
Floorplan
Map
The medieval Montoro at 3823 East Crest Lane is listed for $370,100. It is back to active and needs a cash buyer in order to close. Bank approved price but only until 1.11.11 when presumably it will go to foreclosure. Walls of stone inside. When your mom said stick to nuetral interior finishes, this is what she was afraid of. The location is on a cul de sac across the wash from the community center, 2625 sq ft with 3 bedrooms, 2.5 baths and a 2 car garage. All fingers crossed they get a buyer for this unique home.
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale, foreclosure,fireside at desert ridge,Toll Brothers,pulte del web,bella monte. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Proud to wake up, live and work in the great State of Arizona.
It has been eerily quiet this last week or so due to Christmas and the associated hustle and bustle. Time to put the last minute touches on the newsletter, spend time with the kids and take a breath. This last year has been interesting for the real estate market but I predict 2011 will be even more dysfunctional. Tightening credit guidelines and availability, rising interest rates and stagnant movement in the unemployment numbers will create stress for all.
Short sales continue to be a conundrum. Arizona is an anti-deficiency state so the IRS will not consider the difference between what was owed and what the home sold for as income. As long as the loan money was used to purchase the home. But if you had a second loan and some of the money was used for other things - not for the purchase of the home - then you will have a taxable issue. Conversely, in a foreclosure the difference is most often not considered income to the ex-homeowner. So the IRS is incenting folks to just walk away. Lenders might split hairs on the length of time you are in lending jail for a short sale vs foreclosure but rest assured the pointy heads regulating our financial system have it figured out.
Floorplan
Map
The Fiore model in the Villages, unit 1030, was a short sale that closed for $187,772 or $141 a sq ft for each of the 1330 sq ft. 3 floors, 2 bedrooms, 2.5 baths and a 2 car garage. Fantastic tile work in the master bath shower and highly upgraded cabinets throughout. Cash sale in building 3.
FloorplanMap
The medieval Montoro at 3823 East Crest Lane is listed for $370,100. It is back to active and needs a cash buyer in order to close. Bank approved price but only until 1.11.11 when presumably it will go to foreclosure. Walls of stone inside. When your mom said stick to nuetral interior finishes, this is what she was afraid of. The location is on a cul de sac across the wash from the community center, 2625 sq ft with 3 bedrooms, 2.5 baths and a 2 car garage. All fingers crossed they get a buyer for this unique home.
Tags:aviano,desert ridge,phoenix,real estate,villages at aviano,fireside,Arizona,short sale, foreclosure,fireside at desert ridge,Toll Brothers,pulte del web,bella monte. Information and pictures supplied by MLS and deemed reliable but not guaranteed. Proud to wake up, live and work in the great State of Arizona.
