What Kind Of A Home Will $250,000 Buy In Desert Ridge?
April 19th, 2009 categories: Desert Ridge
I thought it would be fun to start a new series of posts about what kind of home you could by in Desert Ridge for a certain price range. This post is to show what you could buy in Desert Ridge for $250,000 and under.
As of today, there are 22 active listings in the MLS that are listed at $250,000 or less. There is a mix of condos and single family homes. The boundaries I have included for Desert Ridge are 56th street to the East, Pinnacle Peak Rd to the North, Black Mountain Pkwy to the West and the 101 to the South. I included La Verne Condos in the search as many consider it Desert Ridge – it is located off of 40th Street, just South of Fireside at Desert Ridge.
The least expensive home you can buy right now is $160,000. It is a Trend Home in Fiesta at Desert Ridge. Trend built these homes in 1998-1999 and they are single family homes with rather small backyards. However, they are true single family homes with 2 car garages and this home is 1,269 square feet. With an FHA loan, a person can put 3.5% down ($5,600) and have a payment around $842.00 (assuming average interest rate of 5.1% today and not including taxes and insurance). This home home sold for $326,531 three years ago. This list price is a short sale though, so the bank would still have to approve the short pay. However, based on recent sold comps, $160,000 should get approved.
Don’t want to mess with a short sale? Then the least expensive home is $198,900. It is a lender owned property and it has been on the market over a month so it is due for a price reduction – great property to make an offer on. The home is 1449 square feet and not overly upgraded, but could be a great home. With all the short sales in the area, the bank will be motivated to sell. The home is a FNMA owned home and therefore qualifies for Homepath Mortgage Financing for 3% down payment.
Lowest price per square foot home that is active is $119.00 per square foot. That is again a Trend Home that is 1,505 square feet listed at $180,00. Again, this is a short sale.
Probably the best deal out of all of the homes is an Arrezo Model in The Villages at Aviano at $219,000. This is a short sale, but the price is approved by the bank already. This model is 1,388 square feet and has granite slab counters, upgraded tile, upgraded cabinetry and many other fine appointments that are found in these Toll Brother condos. The community has gorgeous community pools, clubhouse & fitness center, tennis courts and many walking and bike paths. Toll Brothers is still building there and they do not have anything under $300,000 and that is with no upgrades.
In total, of the 22 listings, 5 listings are actual sellers – not bank owned or a short sale. 10 properties are short sales and the remaining 7 are lender owned.
If you would like more information on any of these, drop me a line or give me a call at 480.201.4185 and I can email you the list.
Copyright © 2008 The Sunshine Broker | Desert Ridge Real Estate Blog 
[...] by Jackson41 Foreclosures didn’t seem to be an issue – only about 6 homes were for sale. What Kind Of A Home Will $250,000 Buy In Desert Ridge? | The Sunshine Broker And these are for homes under 250k. I can count at least 15 homes in some stage of foreclosure [...]
I am interested in finding some home around 200K but in Aviano area ?
Is any home available ?
There are no single family homes in Aviano under $200k. There are condos in the Desert Ridge area under $200k, but no single family home in Aviano.