The 4S Ranch real estate market is moving. Another bank owned home on Paseo de Linda, 3,377 square foot home, listed for $744,900 and is now pending. It only took 13 days. The big question is “how much did it sell for?”
The talk around 4S Ranch back in April ’08 was the 4,500 square foot home on Palomino Valley Road, bank owned foreclosure listed for only $800,000. A number of homeowners told me their friends had made offers but were not the winning bid. It closed on July 8th for $911,000, over $100,000 over list price.
The foreclosure on Silver Crest, 3,300 square feet, closed for $715,000. This home was on the market only 5 days. It was a very clean home. The house was listed for $659,900. Looking at more details on this sale it was originally purchased in September 2005 for $818,500 now it sold as a foreclosure approximately 12.6% off of it’s original purchase price. The questions to ponder: are prices creeping back up, if these were normal sales and the homes were staged for the market would they have sold for more?
Inventory in 4S Ranch is low, I didn’t see the expected seasonal increase for the Spring Selling Season.
I’ll keep you posted
Copyright © 2008 MaryAnn Morrar
