Homes in Aviano Under Contract
The short sale La Verna model at 22103 North 37th Terrace just flipped to pending status in mls. Last priced at $475K it has 3091 sq ft, 4 bedrooms, 3.5 baths and a 3 car garage. Pending status usually means the inspection period and the back and forth on things to fix is complete. So then on to close of escrow. All fingers crossed for another sale in Aviano. Built in 2006 and part of the Cottonwood Collection, this La Verna model sits on the end of a short cul de sac.
Floorplan Bird view
The short sale Borrego model at 3643 East Louise Drive is now under contract in AWC-I status. Asking price was $399K. Part of the Palo Verde Collection and built in 2006, Borrego models have around 3000 sq ft with 4 bedrooms, 3.5 baths, 3 car garage, 2 floors with the master bedroom on the first floor. Some homes have the spiral staircase from the master to the second floor loft area, some did not include that. Back on 11.30.04 the base price for this type of home was $516,975. All toes crossed for a short and uneventful transaction. Floorplan Bird view
New to market is the short sale Mirador at 22317 N. 36th Street listed for $999,950. 5123 sq ft with 5 bedrooms, 4 baths, pool, spa and 4 car garage. As I understand it from the listing agent, the high price on these will be modified to closer to fair market value once he gets a solid response from the lender they will do a short sale. I really like this and most folks ask the very logical question when they first learn the details of the short sale concept: "Why don't they get a decision before they put it on the market?" Since these started, the conventional wisdom and way Realtors were taught is that you have to have 1. a purchase contract and 2. supporting documentation that the owner can no longer afford the home. Wrap them together, send them into the black hole of the financial institution, and wait for one of 3 responses: 1. yes we will do the short sale, 2. no we won't or 3. the lender is countering back at a different price. Floorplan Bird view
So instead of binding buyers on a many months long wait that usually has a less than desired outcome, get an answer before you hook up with a buyer so all parties now what the game is. I hope this strategy works and becomes widespread. Waiting for the man behind the curtain, like in the Wizard of Oz, to make a decision is no fun for ALL parties.
On a somewhat related note, know what you are getting into when you see short sale prices that are below fair market value. These are usually an attempt to stop a foreclosure process on the home. And if the bank does allow the short sale, they rarely will let a short sale go for less than fair market. So the buyers that think they are getting a smoking deal may learn 5 months down the line that the offer has been countered to something significantly higher. If the buyer cannot afford the counter offer they have just squandered how many months waiting? So it is good to be in second position on short sales. Mr. Krabs from SpongeBobSquarepants says if your wasting time, then your wasting money. And that is just sick.
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.
