Bank Sales and Builder Permits
The bank owned Elliott Home at 4848 East Hamblin Drive just closed for $364,900. Built in 1996, this home has 2917 sq ft with 4 bedrooms, 3 baths, pool and 3 car garage. Here is the verbiage from MLS and sorry in advance for the all caps: "AWESOME HOME LOCATED IN THE HEART OF DESERT RIDGE-NEAR SHOPPING, RESTAURANTS AND AWESOME SCHOOLS*OVER 2900 SQ.FT, 4 BEDROOM PLUS LOFT 3 BATH DESERT RIDGE HOME* RICH WOOD FLOORS IN LIVING/DINING ROOM AND MASTER BEDROOM* FRESH INTERIOR PAINT THROUGHOUT* VAULTED CEILINGS* ONE BEDROOM AND FULL BATH DOWN STAIRS* LARGE KITCHEN WITH CORIAN COUNTER TOPS, DOUBLE OVENS, GAS COOK TOP AND MICROWAVE* BREAKFAST ROOM OVERLOOKS THE FAMILY ROOM WITH GAS FIREPLACE AND WET BAR* 3 CAR GARAGE* COVERED PATIO, PEBBLETEC FINISH POOL*" Conventional loan with the seller paying 3.5% towards buyers closing costs.Sales history was 8.22.97 $234K, 5.23.01 $305K and 6.7.04 $447K.
This article from the W.P. Carey School of Business makes it clear that once Fireside is built out, market dynamics will change. There simply is no new inventory slated to sprout up in the Desert Ridge area. There is demand but the outlay for a builder on one of the vacant parcels of land and associated startup costs may prevent them from going forward. With so little, if any, quality new home inventory available simple economics would suggest existing inventory should appreciate. Jobs will be the factor.
10.5.11 is the next real estate meeting. Mark your calendar and take an hour to dig into real estate. Bring your laptop. Free and casual and starts at 6:30 PM in the Aviano community center. See you there.
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. Contact me at 480.330.0735 or doug0735@gmail.com
