In addition to the high fees (which can skyrocket periodically when they are renegotiated), I'm not a huge fan of the resale/investment potential of these developments largely because it is unusual for the area. Markets like Hawaii, where land is at a premium, or on Native American land it is fairly common as you have owners/developers who don't wish to part with the land, but it can be a tough sell here. If you'll pardon the link (not trying to spam you), here is an article I wrote on Scottsdale's leased land communities.
I can only think of 3
1. Scottsdale House
3. Hilton Villas
Gated/or not gated doesn't really matter since this does NOT determine land lease/no land lease.
Hope this helps.
P.S. Hire an associate broker to help you, they can point out the landmines out there and it costs you nothing to hire them, their fee is priced into the SALE of the home.
Terry S. Smith
45 Year AZ Resident
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
Contact me Direct (602) 763-1858
Office (480) 994-0800
There is no correlation with a gated community and leased land.
If you need assistance, please don't hesitate to contact us!
Brenda and Ron Cunningham
602-980-3133 / 602-499-0694
Recognized in the Phoenix Business Journal as on of the Top 50 Realtors in the Valley
One of the key ways to recognize these homes is by their seemingly attractive low price. These land leases have become unpopular in the last few years and the property values in those communities has plummeted. The same home a few blocks away without a land lease will be several thousands higher.
I believe there is only Camelback or Scottsdale house and then all the Briarwoods and just one or two more just in southern part of scottsdale. I do not know any other property that is land leased. this is a criteria that can be unelected when your agent makes the search.
Tooraj at remax excalibur 602-369-8259
There is no correlation that a gated community would always have a land lease. I should say though that not every community with a land lease necessarily has high monthly costs. In most cases in fact Pad fee's or HOA fee's vary based on the community etc. If you are staying within a certain budget I would recommend that you definitely share that criteria with your agent if you are represented so that your agent only shows you those communities where you won't have that issue. Good luck in your home search.
I will ask my buyer's agent to exclude these. I am still fairly new to looking here and thought maybe these just might be fabulous bargains, but I should have known it was too good to be true.