Aviano Fireside Update
It looks like the short sale Monteloma at 3650 E. Crest closed for $450K or $142 a sq ft. Congratulations to all parties. This is a nice home with some well done upgrades including slab granite and staggered cabinets in the garage. Recently there have been homes purchased on the courthouse steps by investors at the trustee sale and flipped for a profit. This is the first of a home being put in mls asking buyers to write an offer to an entity who was already in the process of negotiating with the lenders in a short sale. So if the entity was successful they would be able to turn a profit by doing what in the old days was essentially a double close - sort of. As a buyer, writing an offer to an entity that does not own the home brings up some concerns. In this case it looks like it was successful. The original buying group closed on the home 10.15.09 for $385K and turned around and sold it to a buyer for $450K on 10.21.09.
There are currently 13 Fireside homes in mls ranging in price from $299,983 to $649,900. They have sold well over 400 homes in the last 2.5 years in what has been one of the poorest real markets ever. They now have 3 different one story models that are selling like hotcakes. If you have driven around the community they are prepping areas for homes that have not been touched so this is a true success story and a great neighbor to us in Aviano. Check out the mls search I have set up - conveniently located under the tab "mls searches" and check it out.
There are currently 16 homes for sale in Aviano. The highest priced home is a Solaria that backs to Rough Rider for $798K or $282 a sq ft. On the market for 184 days.$500K and above we have 4 normal sales and 2 short sales. $400K - $499K we have 5 short sales, 1 normal sale and 2 bank owned homes. Below $400K is a Venezia short sale for $385K and a bank owned Solaria for $375,900. I dont know
if it is the time of year or what but the pace has slowed and there are opportunites in Aviano inventory that exist where 5 months ago they would have been snapped up in a heartbeat. Even so there have been 76 sales so far this year which blows away any of our previous years. Yes the sale prices are down but long term our prospects are great due to weather and our location in the Valley. Look at Fireside; if there was not demand they would not be selling but prices are taking a hit.
Tags: aviano, desert ridge, phoenix, real estate, villages, toll brothers, Arizona
