When you go after a house look at what was recently sold that is apples to apples of the home you like and in this market sellers can sell a bit higher if demand warrants it.
Rely on your Realtor to keep you in the know they have access to this just make sure they are experienced as well!
AZ Real Estate Consultants
Keller Williams Arizona Realty
The asking price of $400k is within current market value. Since this is a short sale, ultimately the bank will determine the bottom price they ate willing to sell it for and will have a formal appraisal done on the home. At best, you could place a back-up offer in case the current offer does not go through.
I have provided a link of other homes in Scottsdale, 85254 zip code, 3000-3500 sf with a private pool that are available.
I would be happy to develop a custom search for you or help answer any questions you might have. I can also prepare a complete market analysis for you as well.
Best wishes and happy home hunting!
West USA Realty Revelation
My COMPARABLES come out to $390,109
Hope this helps.
Terry S. Smith
DPR Realty LLC
8341 E. Gelding Drive
Scottsdale, AZ 85260
This property at 5843 E TIERRA BUENA LN SCOTTSDALE, AZ 85254- is an active short sale listed for $400,000. This home is currently under contract meaning an offer has been submitted to the bank and the buyer/seller are awaiting bank approval to move forward. The home was last purchased in February of 2005 for $540,000 . We will not know the current sold price until it actually closes escrow.
The Scottsdale 82525 zip code is a very desirable area.
Realty ONE Group
This property was for sale as a short sale, but is now in AWC status (Dec 2011), meaning that it is under contract (buyer and seller have agreed on the price) and they await the Short sale bank's approval. At best you can put in a backup offer. To avoid out of date listings please try the following website that is updated every few hours http://(www.centralazhomes.com/)
Your Buyers agent is the best one to give you an estimate of the value of this house. If you need a Buyer's agent, please contact me.
Hope this helped! If you need any other information feel free to contact me, or click on my website where you can actively search for homes on the market that are as up-to-date as the MLS!
Prudential Arizona Properties