Desert Ridge Homes for Sale - Bank Owned Listings
Shout outs to some folks that have helped us recently and did a great job:
Ed Lutz or Fast Eddies Painting at 480.998.5563
Matt Roxburgh the locksmith at Locks Plus 480.695.5325.
John Proctor with Cool Blew plumbing and HVAC 623.872.2900.
And my piano teacher Danielle Chase. Great with kids and old guys like me. Email me for her contact info.
Ed and Matt help Kathy and I when we buy homes at the trustee sale, fix them up and sell them. We did not bid on the Serrantina model at 21922 North 36th Street because the opening bid was too close to fair market value. Opening bid was $382,500 and this home was just sold by the lender for $387K. Past taxes, cost to purchase, insurance, locksmith, landscaping, paint job, carpet clean or replace, pool fix, electricity, gas, water, housekeepers and others are some of the costs involved in getting a home ready for market.
Built in 2006, this home has 2856 sq ft with 4/3.5/2 car garage and a pool. Backs to Black Mountain Parkway which at some point in the future will be attached to the 51. Sold originally by Toll Brothers on 9.28.06 for $719,777. Congratulations to our new neighbors.
The new listing for the lender owned La Bella model at 22502 North 37th Run has multiple offers.
Over in Cielo at Desert Ridge, the DR Horton new build community at 40th Street and Pinnacle Peak, a builder spec "Taylor's" model just sold for $355,332. 2095 sq ft with 3/2 and a 2 car garage.
Earlier this week I attended a continuing education class with local real estate instructor Bill Gray. I would have got straight A's in college if this guy had been a professor back then as he keeps it interesting. The class was on the latest in regards to buying a bank owned or "REO" home. One of the issues is chain of title. Back in the height of the frenzy, mortgages were being sold so quickly that it is unclear for periods of time who actually owned the home. Each time the mortgage was sold the assignment should have been recorded and sometimes it was not leading to "clouds" on title. This article from DSNews.com talks about legislation in Nevada to address this. When you buy lender owned homes they give you a standard policy which is not that great in coverage. Title insurance prevents someone who knocks on your door claiming to own your home from actually taking it from you. An Alta Residential Policy is the best you can get for this kind of coverage. And you can call your title company to upgrade to the better policy if you have the standard. But the point is that the lenders sell these, as-is, where-is and with a lengthy legal addendum washing their hands of any and all responsibility as they do not know what they have. Seven years ago it was rare for lenders to actually own the homes they loaned money on. Now they have too many.
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
Ed Lutz or Fast Eddies Painting at 480.998.5563
Matt Roxburgh the locksmith at Locks Plus 480.695.5325.
John Proctor with Cool Blew plumbing and HVAC 623.872.2900.
And my piano teacher Danielle Chase. Great with kids and old guys like me. Email me for her contact info.
Ed and Matt help Kathy and I when we buy homes at the trustee sale, fix them up and sell them. We did not bid on the Serrantina model at 21922 North 36th Street because the opening bid was too close to fair market value. Opening bid was $382,500 and this home was just sold by the lender for $387K. Past taxes, cost to purchase, insurance, locksmith, landscaping, paint job, carpet clean or replace, pool fix, electricity, gas, water, housekeepers and others are some of the costs involved in getting a home ready for market.
Built in 2006, this home has 2856 sq ft with 4/3.5/2 car garage and a pool. Backs to Black Mountain Parkway which at some point in the future will be attached to the 51. Sold originally by Toll Brothers on 9.28.06 for $719,777. Congratulations to our new neighbors. The new listing for the lender owned La Bella model at 22502 North 37th Run has multiple offers.
Over in Cielo at Desert Ridge, the DR Horton new build community at 40th Street and Pinnacle Peak, a builder spec "Taylor's" model just sold for $355,332. 2095 sq ft with 3/2 and a 2 car garage.
Earlier this week I attended a continuing education class with local real estate instructor Bill Gray. I would have got straight A's in college if this guy had been a professor back then as he keeps it interesting. The class was on the latest in regards to buying a bank owned or "REO" home. One of the issues is chain of title. Back in the height of the frenzy, mortgages were being sold so quickly that it is unclear for periods of time who actually owned the home. Each time the mortgage was sold the assignment should have been recorded and sometimes it was not leading to "clouds" on title. This article from DSNews.com talks about legislation in Nevada to address this. When you buy lender owned homes they give you a standard policy which is not that great in coverage. Title insurance prevents someone who knocks on your door claiming to own your home from actually taking it from you. An Alta Residential Policy is the best you can get for this kind of coverage. And you can call your title company to upgrade to the better policy if you have the standard. But the point is that the lenders sell these, as-is, where-is and with a lengthy legal addendum washing their hands of any and all responsibility as they do not know what they have. Seven years ago it was rare for lenders to actually own the homes they loaned money on. Now they have too many.
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
