Market Conditions in 85014>Question Details

Donna Yolanda, Other/Just Looking in 85014

What is the approximate, current value of my place: 4224 North 12th Street (85014) Montrachet Condos? Donna

Asked by Donna Yolanda, 85014 Mon Oct 29, 2007

699 square feet ... 2 bedrooms ... one bath ... wood floors ... ceiling insulation applied 2 months ago ... new Thor washer/dryer combo.

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Everyone has an opinion! The only opinion that has the data
and support adequate enough for a Bank to lend on it is an
appraisal. We are actually trained to do this!
0 votes Thank Flag Link Fri Nov 9, 2007

The value of your home is what you can sell it for today, not what historical comps would indicate. In other words, the only way you will find out is by placing your property on the market.
0 votes Thank Flag Link Wed Nov 7, 2007
Hello Donna,
I have looked up your property information and noticed that you have recently purchased this in 2006. Without looking at your current upgrades it is difficult to put an actual price on the value of your home. There isn't much activity in your complex. The last sold unit was in June of 2006. With those numbers the value is approximately $166,000. Of course we have a steady decline in the prices of Homes this year. To get a true value opinion someone really needs to look at your home and give you hard numbers. It's a free service I provide with no obligation. Please check out the numbers yourself at the link below. If you have any other questions please don't hesitate to call.
0 votes Thank Flag Link Mon Oct 29, 2007
There is a active 2 bed 1 bath @ 723 Sq Ft SHORT SALE offered at 144,900 FULLY Renovated. ADOM is 152. Unit 103

The last sale in the complex was September of 2006.

699 Sq Ft plus $150 a month HOA. My opinion, the current value would be closer 125K to130K.

Selling at 130K, 20% down 6.25% 30 year P&I, HOA. Minimum monthly payment is $850, and you still need the 26K to put down.

You have a fair location, Indian School and 51.
What do you think your Condo would rent for?
What an Investor can rent it for really dictates price.

Added with the fact that we are in the mother of all buyers markets. The buyers who were originally looking for condos are now looking for Townhouses, and the Townhouses are looking for Single family homes.

Most probably the buyer for your condo will be buying the payment.
0 votes Thank Flag Link Mon Oct 29, 2007
Mr.P, Other/Just Looking in Arizona
HI Donna
I just pulled up a sold comp

6819 N 12TH ST 24 Phoenix 85014
CLose of Escrow 10/18/07
List Price $115,000 Sold Price $108,000

I would love to give you more details. Please feel free to contact me with any questions you may have
Have a great day and Best of Luck!~

Web Reference:
0 votes Thank Flag Link Mon Oct 29, 2007
Based on recent comps in the building I would estimate between $135,000 and 145,000 - Christie Ellis Sonoran Mountain Realty
0 votes Thank Flag Link Mon Oct 29, 2007
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