Canadian Inv…, Home Buyer in Chandler Ginning, Gi...

What happened to this house? Anyone has any idea? thanks ?07/29/2005 sold for $387,000 2.) 05/20/2005 sold for $249,165

Asked by Canadian Investor, Chandler Ginning, Gilbert, AZ Thu Jul 29, 2010…

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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.
Stephanie Weiss
0 votes Thank Flag Link Fri Jul 30, 2010
Hi Jay,
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.
0 votes Thank Flag Link Fri Jul 30, 2010
This home is actively listed for sale. The home last sold on 7/29/05 for $387,000 and currently has a foreclosure notice. The home is listed for sale as a short sale - meaning the current owner owes more than the property is worth, so the bank will need to agree to the terms of the sale. Short sales mean the bank comes up short - but they can take a long time to close. Average is ~4 months ... but vary from 2 months to over a year ... some never close if all parties cannot come to an agreement. I've provided a link below with more pictures and information....
0 votes Thank Flag Link Thu Jul 29, 2010
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