Subject: Paradise Valley MarketWatch - 10 New Listings, Bank Foreclosure, 52,000 Square Foot Fixer Upper and more

There's quite a lot to report this week with
major developments locally and nationally:

1. Save $500,000 on a Paradise Valley
house in today's hot market. Impossible?
One of my clients just did it this week. It was
off MLS and the seller needed to sell quickly.
My client will make some repairs and upgrades,
and we estimate he'll be as much as $700k
in the black when the repairs are done. Even
if he gets extravagant with upgrades he should
be in $500k less than market price.

If my client hadn't told me exactly what he was
looking for, this deal would never have
happened. If you want off MLS deals like this,
or are looking for something special that you're
not seeing on the MLS, please click here.

2. Jumbo Loans are getting cheaper. By
now everyone's aware that "rates" have gone
up, but there's a big exception to that rule.
Banks are chasing jumbo loans, and in some
cases jumbo loans are cheaper than
conventional loans. The full story is in the
Wall Street Journal here.

3. The Hormel mansion has been listed for
sale, as well as a new bank foreclosure.
Please see New Listings below for full details.

Closings
The average sale price last week was up to
$2.2 million and $372 per square foot. The
average year of construction was 1997.
Strong numbers, especially for a time of
year that's usually quite slow.

New Listings
10 new listings, including a bank foreclosure
and the famous Hormel mansion.

Bank Foreclosure in Prime Area
As is usually the case with bank foreclosures,
this home will sell fast. The home was built
in 2001 and sits on a large flat lot over an
acre in Country Club Acres. It appears to
have been remodeled since it was first built,
with the kitchen showing especially well. At
$276 per square foot / just over $2 million,
there's value here.

52,000 Square Foot Fixer Upper
The Hormel mansion was listed this week.
Built in 1970, little has changed since then.
Hence we have a 52,000 square foot fixer
upper. The home sits on over 5 acres with
superb views. The potential is here, but this
is a project for someone with not only
substantial financial resources, but also
substantial time and patience. Offered at
$10 million.

Solid Value near Camelback Country Club
Tastefully remodeled 4 bedroom home on
large flat lot with mature landscaping and a
great pool. This is a wonderful home for families
and entertaining. There's a lot to like about this
home and it's a solid value at $1.4 million.

Elegant Estate 
Over 10,000 square feet built in 2007, this
estate offers elegant finishes and numerous
amenities. The yard and pool are exceptional,
there's a guest house, media room, 7 car
garage, and quite a bit more. Offered at
$5.75 million

To see all of this week's listings in PV, please click here.

To see everything on the MLS in Paradise Valley
please click here.

That's all for this week, I'll be back next week with all
the latest in Paradise Valley real estate.

Regards,
Alex
SearchParadiseValleyProperties.com
(480) 442-7325

p.s. Would you like to know about off MLS homes?






(c) 2013 Alex Goldstein PLLC







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