Property Q&A in Scottsdale>Question Details

Robert Larson, Home Buyer in Mesa, AZ

Pretty house. What's the deal? Short sale or foreclosure? SPDS & CLUE available? Real estate Taxes? What's the HOA? Thanks, Robert

Asked by Robert Larson, Mesa, AZ Fri Apr 2, 2010

Hi again. We are snow birds (Minnesotans) with a substantial down payment, and at asking price would pay off the balance when our house in MN sells.
Is the house easy to see?
Any issues; bad roof, mold, etc? I understand it's in a gated community - not an attraction to us, but if the HOA isn't horribly restrictive we might manage it!
Thanks for any info you can provide.
Cheers, Robert & Laura Larson

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Robert Larson

Dear Robert:

Good eyes! I would say the same thing, Whats up? Looks too good to be true. The land lease iof $1K per month is expensive in this area, that is why this house looks so good. This information should be more prominently referenced as this question comes up often.

If you want a really nice semi custom take a look in Fountain Hills. Great prices right now on homes with views and extra features. There are some good buys in Scottsdale too.

To look for similar homes, see my website for a free MLS search with no registration:

If I can answer any more questions or show you some homes or land, feel free to give me a call. I would be pleased to help you.

Regards, Jeff

Jeff Masich, Realtor®
Arizona Homes and Land
HomeSmart Real Estate
0 votes Thank Flag Link Fri Apr 2, 2010
Hi Robert and Laura,
This home is a great price for a the other Realtors have explained this community has a land lease that is $988 a month and an additional HOA Fee of $191 a month, as stated in the listing. It is listed at $159,900 and in a gated community with a wonderful location. Taxes in 2007 were $1964 and it is NOT a short sale or foreclosure. SPDS AND CLUE would always be requested even though the home is vacant. The issues that are not known, or cannot be seen (as far as roof issues etc.) you want to get a HOME INSPECTION. Home inspections are an optional expense paid by the buyer but always always recommended. If you need additional information on buying a home in AZ or other listings, you can contact me at 602-793-9300.

0 votes Thank Flag Link Fri Apr 2, 2010

Great price and alot people don't realize the issue with the expensive land lease as noted already. I have created a link for properties in the metro area in your price range and size. If you need further assistance, please let me know.

Stephanie Weiss, REALTOR®
480.273.7472 cell
602.503.4008 vm/efax 480.889.3700 off
0 votes Thank Flag Link Fri Apr 2, 2010
If you would consider Laveen, I have a brand new listing that is NOT on MLS yet. It is 4,000 sqft, built in 2008 for $247,000. There is nothing wrong with the home except it is a short sale (many take longer to get an answer). We get many short sale homes that are in excellant condition versus the bank owned properties which are usually destroyed. IF you wish, you can be notified before the general public on these deals that are usually grabbed by real estate agents before they go public.
0 votes Thank Flag Link Fri Apr 2, 2010
You have already seen the reason this home is not selling. Very narrow market for this type of property.

Why not consider the Scottsdale Ranch area? A little further north and a little higher initial investment, but a lovely area and a great place enjoy all that Scottsdale has to offer.
0 votes Thank Flag Link Fri Apr 2, 2010
This property is in Briarwood Three

Briarwood Three is on LAND LEASE for $988.00 per month (+) 191 HOA

This looks like a absolute bargain 2242 square foot home in the heart of Scottsdale for $159,900.

Once you dig a little deeper, you come across the land lease problem.

P.S. This home has been on the market for 773 days!

Hope this helps.

Terry S. Smith
Broker Associate
DPR Realty LLC
(602) 763-1858
0 votes Thank Flag Link Fri Apr 2, 2010
Hi Robert and Laura,

I have included a link to take you to the MLS live listing so you can have a little more to review which you will find below this post.

The catch here (which is why I wanted to go look) is that the home is on a "land lease" for $998.00 per month! Ouch!

Some deals really are too good to be true.

Be careful to research this type of information before you move forward on anything.

All The Best,

Stew Keene - Home Smart Realty
Scottsdale and Phoenix Area Specialist
0 votes Thank Flag Link Fri Apr 2, 2010
Let me check that for you...

Be right back,

Stew Keene - Home Smart Realty
Scottsdale and North Phoenix area Specialist
Web Reference:
0 votes Thank Flag Link Fri Apr 2, 2010
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