As to your question above, it you're wondering why a home apparently sold in May 2009 for $249K and then again in July for $387K, the answer is probably one of two things:
1) The data your seeing is incorrect.
2) The home really was bought in May for $249K and remodeled and re-sold for $387K in July.
Most likely, reason #1 is the answer. There is a LOT of bad info out there, particularly when it comes to historic sold values.
Also, while it's curious, and does make you wonder what happened, it really means very little. What a home sold for five years ago has zero bearing on what it's worth today.
I will add to what Patty said.....a quick analysis of Comparable properties in Sun Groves are closing at
Low $71.70 PSF, Average $76.16 High $81.02
Some listing agents will price short sale listings below comps to generate an offer and stall a potential foreclosure such as this is, but the bank will want the best comp price they can get and will often counter with a higher number after the buyer has waited 2-3 months for a response. Additionally, this property has 2 loans which complicates things since the fallout rate of short sales is very high.
Just some food for thought.
I will work with an agent later on for sure , but before I fly to AZ, I would like to do a lot of work myself like : To know where I should buy , How should I hold the property, get my mortgage pre- approved, find the best PM , talk to couple of agents and find whom I feel comfortable with . Then I will fly there and buy . I don't like to waste the a lot of other people's time and don't give them business.
You're asking a lot of questions, and that's *great* -- you should ask lot's of questions.
But you've previously indicated that you are working with an agent.
So my question to you is, why aren't you asking your agent these questions? You (hopefully) trust them. Their job is to help you. Why not let them do their job? That way you get answers from someone you trust, and not from some random people on an internet message board that may or may not give you good advice.
(Of note, I'm not saying Patty's answer isn't correct. It may be. Probably is. I haven't looked up the property. The point I'm trying to make is -- talk to your agent. That's why you hired them).