General Area in Scottsdale>Question Details

Robin, Other/Just Looking in Scottsdale, AZ

Leased Land locations in Scottsdale

Asked by Robin, Scottsdale, AZ Thu May 28, 2009

Is there a central source in Scottsdale that identifies leased land locations in the city. I have noticed that a couple of listings have specified that, but think some do not. I saw a home at 7521 East Becker Lane and wanted to know if this is on leased land. Thank you for any help you can give -- I appreciate it.

Help the community by answering this question:

Answers

4
Mickey & Tom Smith’s answer
leased land in Scottsdale is primarily along Scottsdale Rd from a few blocks north of Chaparral to Shea Blvd. These homes do not have the same leaseholder so the leases are different. You have to read the lease documents to see when the land lease is adjusted. For example Briarwoods 4,5,6 next adjust is 2077. All use a different formula as well. The lease fee is not tax deductible, is paid monthly. These communities also have HOA's which will add an additional monthly fee. Why do people buy these homes? Location and size. Most have 3 or 4 bedrooms, full size garages and full size pools with easy access to in town amenities.
0 votes Thank Flag Link Sat Nov 3, 2012
There are several subdivisions in Scottsdale that are on leased land. Here is a list of homes that are currently listed as active on the MLS.

http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/ru…
0 votes Thank Flag Link Thu Jan 1, 2015
Yes Briarwood North is a land lease community
Land lease is 1/10 of 1% of purchase price per month....until you sell.
Current Land lease is $460. per month.
the home is active at 375,900

I would really dislike paying a land lease, however great neighborhood. Have to give credit for the guy who came up with the idea of land leases.

As far as a central source in Scottsdale that identifies leased land locations. I don`t know of any, just the community's.

I will put them together, it will make a useful blog.

Thanks for your question

Good Luck
Patrick
480-543-9899
Web Reference: http://www.AZRE.TV
0 votes Thank Flag Link Thu May 28, 2009
Mr.P, Other/Just Looking in Arizona
MVP'08
Hi Robin,

First, the home on Becker is on leased land and the lease payment monthly is $460.00.

Scottsdale is full of areas with leased land payments and the best way to find one without is to search for homes that do not include leased land payments. the downfall of curse it that you are paying for location and nothing else.

There are also other fees involved in searching for this type of property and that includes PAD or "Planned Area Development" fees along with HOA fees.

Between all 3 I have see monthly expenses worthy or a portion of a house payment.

These homes are very difficult to sell with all the fees added on unless you are practically giving it away or your location is so exclusive that someone of affluence is willing to look past to the fee just for having that perfect location.

If you are working with a realtor, have them setup a search for you for homes that don't include that land lease fee if you desire.

If you are not already working with a realtor I would be quite happy to provide that search for you.

All The Best,


Stew Keene
20008-20009 Master of Real estate Award
GRI, ABR, E Pro, CNE, MRE, WHWD
Scottsdale and North Phoenix area specialist
Web Reference: http://www.stewkeene.com
0 votes Thank Flag Link Thu May 28, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer