Open House

Held an open house in Phoenix Saturday - 7th Avenue and Thunderbird. Bank-owned. On Moon Valley Golf Course. Needs some work, but it's big (over 3400 s.f.), has a three car garage plus extra parking, a pool - and lots of potential. Worth a look if you know a buyer interested in that area.

Real Estate Auction

I went to my second real estate auction Thursday last week. Very interesting. Fast-paced. Loud. Well run. My bidder was after a 35-year old three bedroom, two bath home in Glendale (AZ) that had been foreclosed on by the bank. 1300+ s.f. She had previewed the property so she knew pretty much what it was worth. Her budget allowed her to bid as high as $70K - it sold for $80K. I think the bidding must have taken about all of 45 seconds. Her objective was to purchase it as an investment property - it needs some work, and some appliances and will likely rent for $900+ a month.

She'd bought a property at auction earlier in the month that she'll live in. Ended up winning the bid for $155K - plus 5% in selling costs. Last week it appraised for $180K - so she's pretty happy. It's a good buy.

Lots of properties - in a variety of conditions - at below market prices. Consider a look at http://www.ushomeauction.com/.

Sun City condo

I am working with a retired couple in Sun City, AZ who have a 900 s.f. one bedroom, one bath condo for sale for only $73K. It has a good sized Arizona room - which can be used as a second bedroom. Beautifully maintained, it is completely move-in ready. The HOA is $120/mo and includes water, trash pick-up, roof maintenance and replacement, exterior maintenance etc - a good deal. At lease one person in the household must be at least 55 years of age. Sun City has a "buy-in" fee consisting of $2500 capital preservation fee, $300 transfer fee plus $396 recreation fee (which is an annual fee). This home is a fantastic buy - no "gotchas" - it just needs someone to see it for the great buy it is. Know anyone who might be interested?

Fun in the Sun - with a Pool

I'm working with a lovely couple from rural Indiana - ready to move to Glendale (Arizona), somewhere close to GCC. That's the 85302 zipcode. They'd prefer single family, at least three bedrooms, 1800 s.f. or thereabouts, in a very quiet neighborhood. Their one "gotta have" is a pool, preferably a diving pool. They are happy to paint and do a little landscaping, but aren't in the market for a fix-up. Budget is $200K, more or less. No short sales unless the lender has preapproved. Anybody have a worthy property for them to consider?