I am trying to make sense of Phoenix area home prices but am noy having much luck . Please help?

Dee
Home Buyer
Alberta Canada

Here are 2 homes that have recently sold in Goodyear that would appear to be,on all accounts,very similar.Both are similar sized 2 storey homes although in different areas of Goodyear, are very similar judging by the exterior photos.The first home located at 17511 W.Coyote Trail Dr.,sold for over $300K or over $150/sq.ft., the second home at 15953 W Moreland St. sold for just over $100K or less than $50/sq.ft. What possible explanation can there be for this wide range in pricing? I can understand differences of 30% because of location, condition, quality of finish, etc but 300%, woww http://wwww.This is just one example that I found and both of these homes are listed as "SOLD" on the Trulia website in the last few months.

Answers (6)
Joe Bourland, R...
Agent
Avondale, AZ

Be very cautious about using price per square foot to figure residential home price. Great for commercial property but very inaccurate for residential. There are too many variables that come in to play in homes than just livable square footage and price. Lot size, garage size, does it have a pool, spa, backs to golf course, etc are not represented in that figure.

At any rate, the home on Coyote Trail did not sell at $326k. That was the amount of the mortgage that was foreclosed. The websites that consumers are able view do not clarify the difference.

Fri Mar 6 2009, 14:17
Christine Losch...
Agent
85248

Dee, if you are in Alberta trying to figure out the area on the internet, you are going to have a tough time. Get in touch with a Realtor here to help you understand the neighborhoods. Good luck!

Wed Dec 17 2008, 18:04
Stew Keene
Agent
Phoenix, AZ

Hey Dee,

I'm just curious.... Why are you interested in Goodyear property? Do you have friends staying there you know or ???? Especially at over 300k ???? I am showing Scottsdale Bank owned property near Troon North in Scottsdale at 350k for 2400 square feet. In fact I just showed Canadian buyers the area and they were stunned at the difference in Scottsdale vs the west and SW valley.

Are you sure you want Goodyear?

Stew Keene
Ph (480) 220-7491
Fax (866- 711 8573
StewKeene@yahoo.com
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
ABR, GRI, ePro, CNE, MRE, AHWD

Sat Dec 13 2008, 16:36
Paul Welden
Agent
Phoenix, AZ

Hi Dee,

One of those properties was for sale by a private seller. It had moutain views, pool and a better location than the other one, which was a bank owned property (REO).

The key word in real estate is location (repeated 2 more times, of course). And the private seller home was probably in much better condition than the REO.

Hope this helps you. For more information on what a Buyer's Agent can do for you, I invite you to conact me.

---
PAUL WELDEN
Buyer's Agent REALTOR
HomeSmart
480.241.0081

Sat Dec 13 2008, 09:04
Lucinda Tkach
Agent
Phoenix, AZ

Dee,


This is because of the lender owned homes and sellers homes. There are some great homes that are priced right and move in ready. Often the lender homes are in need of a high amount of repairs.

Many sellers are willing to compete with this market. However if it is priced to sell and move in ready it is worth making an offer in some cases.

Feel free to contact me to recieve an automatic notice of homes in areas of you choice. I will need size rooms and preferences, such as pool, garage and location. This will give you accurate information on what is available and sold homes if you would like to see that too.

Lucinda Tkach
Windermere Central LLC
602-799-6846

Sat Dec 13 2008, 08:27
DONALD KEYS
Agent
Peoria, AZ
FIRST ANSWER

Dee,

15953 W MORELAND ST sold for $101,850 on 11/05/2008 and was a bank owned repo.
Area: 2,232 sf Built: 2003 Stories: 2.00

17511 W COYOTE TRAIL DR sold for $326, 116 on 08/06/2008 and looks to be a private seller.
Area: 2,128 sf Built: 2001 Stories: 2.00

The difference: The more expensive home is in the Estrella Mountain Ranch Subdivision (highly desired) with Mountain Views and a pool.

LOCATION, LOCATION, LOCATION
CONDITION, CONDITION, CONDITION

That is why such a huge price difference.

For a free list of BANK OWNED HOMES with pictures that is updated daily:
http://www.623BankOwned.com

Sat Dec 13 2008, 07:56

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 87
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback