Home Buying in 85255>Question Details

Dave, Home Buyer in Glendale, AZ

McDowell Mountain Ranch, 85255 - Shopping / Advice

Asked by Dave, Glendale, AZ Tue Nov 30, 2010

Seeing MLS# 4481889 at 10603 E FIREWHEEL DR 85255. List price seems high... anyone familiar with the area and home prices? It seems like the home prices vary drastically. Based on the information listed on this home any idea on what a on a resonable offer would be?

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Answers

18
Greetings Dave - Finding the market value of the home you want to buy is a "skill". The best agents will evaluate the market value much like an appraiser does for the bank. The bank requires this appraisal prior to a commitment to finance the property. Even if you're going to pay cash, your offer should include that the property’s value will at minimum, meet the value of the appraisal. This is critical to your bottom line. Make the offer contingent on the appraisal analogous to the financed offer. There are other safety measures you can employ. Unfortunately, when an appraisal is performed these days the banks require that if there are short sales or bank owned properties recently sold in the area that they must incorporate one of these in their evaluation. As much as we a seller of a traditional sale would like to ignore these distressed sales and the discounted values, the bank will not and cannot ignore these sales. The appraisal takes in to account “like homes” (comparable) and the differences associated with those homes to include the exterior and interior. Plus and minus dollars are associated with those differences and the final number demonstrates the appraised value of the home.

Do yourself a big favor and find a good agent to help you with this process. The seller usually pays the buyer's agent fee, the buyer’s agent has your fiduciary responsibility that they must abide by and you reap the rewards, usually at no cost to you. Anyone should be able to call that a good deal.

Jeff Daley
Luxury Valley Homes Scottsdale
http://www.LuxuryValleyHomes.com
Licensed REALOR® Arizona
2 votes Thank Flag Link Wed Dec 1, 2010
Dave,

I am the listing agent on this property, thanks for your question. McDowell Mountain Ranch is a very desirable area. It has beautiful mountain views, close freeway access, and lots of shopping and restaurants. They have a community center with pool, splash pads, basketball and tennis courts. Library, skate park, mountain bike trails are very close by, I could go on and on! The price is based on comparables in the neighborhood. The house right next door just sold for $405K on September 8th. It is the exact same floor plan except they have a pool, but only a 2 car garage. Yes, there are lower priced properties in the area, but those are short sales or bank owned properties. This is a traditional sale. I would be happy to answer all your questions, please give me a call.

Chrissie Smith
602-550-5750
chrissiesmith@kw.com
Keller Williams Integrity First Realty
1 vote Thank Flag Link Tue Nov 30, 2010
McDowell Mountain Ranch is a lovely community with wonderful amenities. Some of the pricing is based upon lot size and views and may be partly the reason your seeing a variation in pricing. By now you may have already purchased a home there and are all moved in.
0 votes Thank Flag Link Tue May 3, 2011
Hi Dave - You have got many great answers from some great realtors. Shop for a great experienced realtor that specializes in your areas of interest, they will be able to provide you the quality information you need. Feel free to contact me.

Kind Regards,

Jennifer Parker
HomeSmart
602-619-2287
0 votes Thank Flag Link Mon Jan 3, 2011
Prices vary due to the nature of the current owners financial state, there are deals to be had
and if you called me personally I could let you know what would be a possible offer on that home
Are you ready to buy something up this way? love to assist
Been working in this area for 15 years, before this was even built!
call for a free consultation

Lynn Petronella Rose Realty.....480-314-1058
Web Reference: http://www.roserealty.com
0 votes Thank Flag Link Mon Jan 3, 2011
Some FANTASTIC REALTORS have answered your thread. Honestly find a realtor that you can work with and knows the area. You have 14 great agents to choose from.

Jason Grandon
SRL REALTY GROUP
480-276-2954
0 votes Thank Flag Link Mon Jan 3, 2011
DON'T rely on others. Get educated by looking at other homes in the area. If it's a real value and meets your needs you will know. Find a Realtor with recent sales in McDowell Mountain Ranch.
0 votes Thank Flag Link Wed Dec 1, 2010
What a great thread! Gotta love it, Dave, when the listing/seller's agent chimes in and offers to assist you. LOL My dad always said that opinions are like butt holes - everybody has one. I don't mean to be crude, but want to try to make a point. Just about anybody can find support for his or her opinion about just about anything - including real estate. That's why it's an art, not a science.

I stick to my first bit of advice >>> secure the services of a local, experienced buyer's agent. Otherwise, you're swimming in the deep end of the shark pool with no life preserver.

Take care!
0 votes Thank Flag Link Tue Nov 30, 2010
Dear Dave:

Yes, this is a bit on the high side, although homes can change in this area baesed on age, proximity to the freeway and builder and view lots. For you to compare, i have attached a link of the other 87 homes currently for sale within one mile of this home http://www.flexmls.com/link.html?rogs1l8zls1,12,1 . If you select a Realtor to represent you, they can get comparable recentl sales based on the features and neighborhood you are looking for.

Fee free to ask any questions.

Jeff Masich, Realtor
Arizona Homes and Land
http://JeffMasich.com
HomeSmart
Scottsdale
0 votes Thank Flag Link Tue Nov 30, 2010
Dave

I hope you have engaged the services of a competent Realtor to serve as your buyers agent. As your buyers agent I would be viewing the property with you, pointing out to you the pros and cons as well as then able to provide a real opinion of value after doing my research.

McDowell Mountain Ranch does have multiple small communities with in the larger scope that vary widely based on the lots, view, builder, quality level etc that are only really determined by doing the proper research. My last listing in McDowell was in Trovas and you just can't use other comparable homes to give it value. Great community, I love McDowell Mountain Ranch but its really easy to compare apples to oranges.

Good luck, be careful about making such large decisions based on an online format that really has limited information on the actual subject. Always glad to answer questions.
Web Reference: http://www.McVinua.com
0 votes Thank Flag Link Tue Nov 30, 2010
Since Zillow has a ± 13% margin of error on prices I wouldn't depend on it. The Overlook in MMR has comparables...actives at $349k and $320k asking...again, go look at those along with your choice home and move from there with an offer. The best price a seller will take is a buyers best offer OR they remain the highest bidder. Evaluate and go.
Laura Myers
0 votes Thank Flag Link Tue Nov 30, 2010
Hi Dave,

Your question has some open endedness (hey, I just added a new word to our vocabulary) to it which makes it very difficult to answer.

My suggestion would be to look at the trulia and zillow estimates for property values in that neighborhood so you can help educate yourself a little better on what the market trends are.

My suggestion would be to start low and expect a counter offer. Honestly, anything that is close to 400k under contract will be making the listing agent and seller dance with joy as the median price range is so low right now and buyers are focusing in on homes 130-150k right now so don't be afraid to show some buying muscle, but be realistic as well. the last thing you want to do is piss off the seller with too aggressive an offer.

If it's a home you fell in love with then you are probably going to have to be more sensible. This is a great and desirable area to live so you might keep that in mind when you present your offer.

Best of luck to you Dave,


Stew Keene - Home Smart Realty
Certified Short Sale Negotiator
Web Reference: http://www.stewkeene.biz
0 votes Thank Flag Link Tue Nov 30, 2010
David,
Stephanie is correct. She beat me to the MLS.

Best,

Jennifer Parker
0 votes Thank Flag Link Tue Nov 30, 2010
Dave -
There are apples to apples comparable homes for sale much lower than the $400,000 asking of this particular property. This information should be reviewed prior to making an offer. Even though the asking prices of the others are lower condition of the comparables is important too. I would suggest you look at them and then decide what you are willing to pay. If there are no competing offers on the home you prefer you can be a bit more aggressive and come to terms with the seller at a price agreeable to both.
I would suggest this home could garner a much better buy but do suggest you choose your own representation so your price and terms can be presented with experience.
It appears that the seller owes much less on this home but they may be of the mind set to see if they can "try" to sell vs actually sell because they "want" a certain amount out of the house in order to move to their next.
The best thing you can do is put an offer in and walk if it doesn't meet your best terms. My office is right down the road from McDowell Mountain Ranch...let me know if we can help.

All my best
Laura Myers
Select Realty Group
Keller Williams Arizona Realty
480-600-6213
0 votes Thank Flag Link Tue Nov 30, 2010
Dear Dave:

Prices are all over the map because there are 23 Communities in McDowell Mountain Ranch.

For example the community of Trovas will be more expensive than Arizona Vintage

Why?

Trovas has larger lots, bigger homes, and it is GUARD GATED.

Arizona Vintage is NOT guard gated and the homes are on smaller lots.

Trying to do comparables in McDowell Mountain Ranch is tough because some homes have million dollar views, while other ones back to the High Tension Electrical Wires.

The last sale in that community SAME SQUARE FOOTAGE CLOSED ON AUGUST 11, 2010 and sold for $385,000 Here is the link:
http://www.flexmls.com/cgi-bin/mainmenu.cgi?cmd=url+other/ru…

It appears the agent is working off this comparable, even though this one had been completely remodeled.

In McDowell Mountain Ranch it's important to compare apples to apples. Same sub-division, same model, same square footage.

Hope this helps.

Terry S. Smith
Scottsdale Specialist
44 Year AZ Resident
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
Contact me Direct (602) 763-1858
Fax 1-888-315-2680
ScottsdaleForeclosures@Gmail.com
http://www.ScottsdaleLenderForeclosure.com
0 votes Thank Flag Link Tue Nov 30, 2010
David, That property is listed at $203 per sq ft. Within a mile radius, same size properties are averaging $161 psf. The lowest paid was $130 while the highest was $205. The $205 property sold on 9/8/2010 for $405,000, was the same size (1,972 sq ft) but it had a pool and only a 2 car garage. Most of those comps got loans so that means they had to get an appraisal. If you'd like more info, please contact me directly.
0 votes Thank Flag Link Tue Nov 30, 2010
Hi David,

I specialize in these areas. Are you currently working with an agent?

I will do some research and get back to you on this.
You can contact me via phone or email

Jennifer Parker
HomeSmart Realty
jenn.parker@cox.net
602-619-2287
0 votes Thank Flag Link Tue Nov 30, 2010
Whatever you do, please don't make any major financial decisions based on answers on a national from agents that may or may not know what they're doing.

Best advice - secure the services of an experienced, local real estate agent.

All the best!
0 votes Thank Flag Link Tue Nov 30, 2010
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