Desert Ridge Phoenix - Foreclosure Deals

For those in the know, Desert Ridge in Phoenix is one of the areas hotspots for those interested in purchasing a nice residence in a killer area of town. Located in North Phoenix just off the 101 freeway and Tatum Blvd, Desert Ridge is home to the JW Marriott Desert Ridge, Wildfire Golf Club, and always popular Desert Ridge Marketplace. For those with children, Desert Ridge also has schools and day care facilities located conveniently within the community.  

Although Desert Ridge borders North Scottsdale to the east, technically the neighborhood is located in Phoenix resulting in lower taxes, and preferred (by many) Paradise Valley schools.

Unfortunately, during the housing boom of 2005, prices escalated so fiercely that many home buyers were priced out of the market. With downward pressure on the housing market, Desert Ridge has once again become affordable with a nice selection of foreclosures, REO's, bank owned properties and short sales (preforeclosures).

Here's a great example of a Desert Ridge foreclosure that I had the opportunity to view last week while out with a client. This 1,963 square foot , 4 bedroom / 2 bath Continental home with pool sold near the height of the market in 2006 for $455,000. In June of 2008 the bank took the home back at an approximate price of $373,000. Currently the house is listed and available for $284,900. Across the board in the Phoenix area, homes are generally closing at approximately 94% of list price. So, in this example you could possibly pick up this home for somewhere in the neighborhood of $268,000!

With a 30 year fixed rate mortgage hovering somewhere around 5.73%, and many banks ready and willing to pay buyers closing costs, now is the time for homebuyers and investors to seriously consider jumping back in this great real estate market.

If you are considering purchasing a Desert Ridge foreclosure, or bank owned properties located in the Phoenix metropolitan area, feel free to contact us direct at 480.209.6277 or you may also reach us through our Scottsdale Homes For Sale website.

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: