Home Selling in 85262>Question Details

Yamin, Other/Just Looking in Scottsdale, AZ

Should I sell it or not?

Asked by Yamin, Scottsdale, AZ Fri Jan 9, 2009

I have a custom home site at Troon area. Across from Four season resort, it is in the desert summit community. My neighbour offer me for 35% less than I paid.

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Cheryl and John Thorsen’s answer
Dear Yamin,

We live and do business in the Troon Area and values have been appreciating over the last few years. You did not mention when you bought your home. Chances are if you bought between 2004 and 2007, you have less equity than when you purchased. Without knowing your personal situation, I would say it is probably a financially healthier decision to sell your home, if you plan on purchasing another. You will be in a position to better leverage your investment. I would also seek some professional financial advice from either your accountant or financial planner. Sometimes it is just great to move along with your life. Luxury home prices have been rising and sales have been brisk. Call or email at any time to receive a no obligation comparative market analysis and price opinion for your home. Please let us know if we can help you in any other way.

"Helping you find your way home..."
John and Cheryl Thorsen
0 votes Thank Flag Link Tue Mar 18, 2014
Since your post was from 2009, it may have been a good idea to sell for the 35% loss back then. On the other hand, if you held on to it, today's market demand for land should have helped you to rebound to at or above your original purchase price. Did you ever sell your land?
0 votes Thank Flag Link Mon Dec 29, 2014
Land sales are always market driven, I just sold 3.3 acres in Clearwater Hills in PV and the owner accepted less than they orginally paid for it. It depends on your circumstances and when you orginally bought the land and what would you like to do now. I know that area well, and would be happy to help.
0 votes Thank Flag Link Wed Nov 19, 2014
Tough to say with the limited info. I would get a market analysis first and see what is happening in your specific market currently. I'd be happy to help, feel free to contact me directly if you'd like a fresh look at the numbers. Good luck !
0 votes Thank Flag Link Mon Nov 10, 2014
Property values have risen significantly.
0 votes Thank Flag Link Sat Nov 8, 2014
Only sell if it makes sense for you to do so. If you've consulted your financial portfolio and it makes economic sense then place it for sale at a fair market value. Many sellers are upside down and in some cases 50-60% below what they paid. The luxury homes are facing their time of decline this year. If you don't need to sell then keep it.
Laura Myers
Keller Williams AZ Realty
0 votes Thank Flag Link Thu Oct 28, 2010

I have the information you needed on your property.

Would you contact me I misplaced your phone numbers?
0 votes Thank Flag Link Tue Jan 13, 2009

Everyone's situation is unique. I would recommend you consult the following:

1) Professional REALTOR or Appraiser to determine the current market value of your property.
2) Professional ESTATE PLANNER or CERTIFIED FINANCIAL PLANNER that understands your current financial situation.
3) Attorney if you are considering bankruptcy.

In general home prices are done, you are in the 2nd highest demand zip code in Scottsdale and eventually prices will go back up.

If you DON'T HAVE TO SELL - then don't.

If you are falling behind on payments, can't afford the home are in a "must move" situation then consult the professionals I mentioned above.

It sounds like your neighbor is trying to take advantage of you.

By the way the REALTOR consultation is free.
Give me a call if you want a no obligation free market analysis of your home.

FREE List of Scottsdale Bank Repo homes: http://www.ScottsdaleAZRepos.com
Web Reference: http://www.TheKeysTeam.com
0 votes Thank Flag Link Fri Jan 9, 2009

See my response below...

0 votes Thank Flag Link Fri Jan 9, 2009
My property is the mountain site, over 2 arce, buildable and has 360 degree views. It is vacant lot and has 30,000 sq ft building envelope. It is not free and clear. I don't know how much is worth now. I am afraid that the value are worth less and less every year.
0 votes Thank Flag Link Fri Jan 9, 2009

I have reviewed the property information through the tax roll and I would say don't sell. The price he would be buying that lot at would be far below true market value in my estimation.

If you can wait a little longer then do so. I would say that you have a very nice investment there. The payments should be pretty reasonable and Scottsdale will come back eventually.

You could be giving away a nice profit there.

All The Best,

Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes Thank Flag Link Fri Jan 9, 2009

I would be happy to provide you a property evaluation! That we you can make an informed decision!

Feel free to contact me anytime!

I also have a client looking in the area.

Lucinda Tkach
Windermere Central
0 votes Thank Flag Link Fri Jan 9, 2009

Is this a home site like a vacant build-able piece of real estate or a home built on Desert Summit real estate?

Do you own it free and clear? Has anyone suggested a value for the site/home?

I need a little more information here.

I actually live on the back side of Troon just down Dynamite so you're close.


Stew Keene
Ph (480) 220-7491
Fax (866) 711-8573
Keller Williams - Scottsdale, AZ
2008-2009 Master of Real Estate award recipient
0 votes Thank Flag Link Fri Jan 9, 2009
That 35% might not be a bad deal depending on when you made your purchase. For the most part values in the Northeast valley have dropped about 12-15% year over year. Yet if you bought at the peak it could possibly be down that 35%.You really need to determine your motivation for selling at this time.In my opinion we will see this market turn around in the coming years and if you can hold out I would recommend you do so.
0 votes Thank Flag Link Fri Jan 9, 2009
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