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Hi LeAnn,
Sun CIty is seen as a great spot for renovators and boomers looking for a well priced active adult community. The original buyers are into their 90s and are being replaced by those in their 50s. The homes were built in the 60s and 70s, so if remodeling hasn't been done to the home yet, buyer's will be expecting an affordable price. Many flippers have come in and taken homes down to the studs and started all over again -on golf course and lake view properties in particular. The trend is to redo with all of the bells and whistles "todays" buyers want and then sell it for a couple hundred thousand more. You can have 2 homes with similar sq ft next to each other and see a price difference of $200,000-$300,000. If the home is an original-I would target the younger crowd looking for investment opportunities. If the home has had modest updates and could work as move in ready, I think the biggest challenge is that many want-to-be Arizonans are having problems selling back in the midwest, etc so they aren't comfortable committing to a property here yet. Would your friend be in a position to rent back from any potential buyers? That may be an incentive to a buyer who is scared to move forward . Feel free to contact me if I can be of help 623 640-4330
Thu Aug 21 2008, 10:36