Saturday, April 20, 2013
A model condo on Enterprise listed as a short sale at $220K
An A model unit on Enterprise Way has been listed on the Desert MLS as a short sale at $220,000. The listing says they are taking back-up offers. The listing says: "Home to some of the very best mountain views in Palermo---or anywhere for that matter! This large 2 bedroom home features designer style, ample upgrades, and comfortable living at its best. Enjoy the private courtyard as well as the exclusive Palermo amenities, which include resort pool, state of the art fitness center and clubhouse. This short sale opportunity will not last so make sure you see it today!" The listing is here. Miss Penny Lane says: She's could be in the market for another one!
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9 comments:
Good deal.
It is a GREAT deal but stinks for those of us who were hoping that prices were going up!
At $220,000.00 this is more than $80,000.00 from a year ago, which makes for a nice appreciation in my book. I bet the bank could hold out for higher with the $260,000.00 sale for a lesser unit. I problem is the short sales do bring prices down because they are distressed.
Right direction. Real test comes when "non-distressed" sales go through. Last one of those was $256,000, more than 110 grand more than the previously logged sale of a similar model, but the issue is these non-distressed sales for few and short between at the moment at least, meaning bankers have a say in prices (via short sales).
Wait until the owner unloads all the rental units....prices will stagnate for quite some time.
With short sales, the initial ask is almost meaningless. Usually the seller throws out a low number for a short sale initially to drum up interest, but it is not necessarily bank approved. Once a bid is made, the bank comes back with an approved asking price, which may be 20K higher.
My guess is the owner of the 34 rentals will sell them slowly and get good prices.
I guess is the p rices for any of those 34 places will be much higher than the short sale prices of today since they are holding them for the right prices. I rent from them and they told me I have a certain number of months and then there might be sales, and that they will have a loan plan in place but that also means the prices will be set. I read into this that the prices will be high, much higher.
Yes, I heard that prices will be a certain point on those 34 units but additionally there is the location part of the equation. Many of the best units/locations were taken by the first owners. Pools additionally will add to the prices.
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