Luxury Homes in Phoenix Area the Latest Bargain

Whitewing at Higley for SaleAs the outlying areas’ home bargains begin to dry up many buyers are focusing on some of the even bigger deals.  Where are they?  Luxury homes.  It’s absolutely amazing the deals you can get on some of these high-end homes.  Owners of some of these homes need a quick sale because they’ve lost their stock market financial cushion along with their jobs.  These sellers are becoming more and more common and banks are now selling many of these homes.

There are hundreds of listings of luxury homes that have been heavily discounted, some as much as half of what they’re worth. 

If you’re looking for one of these bargains, it’s important to find an agent who will research the property for you to determine what the owner’s paid for the home, what the mortgage on the property is or was and when they bought it.  Another indicator is a stale listing.  One that has been on the market for close to “forever”.   These sellers are typically the ones who overpriced their homes at the onset and are now ready for an offer.  Any offer.  If you see a home price that is drastically reduced…that’s your sign that it’s time to make your offer, so you better be watching!

Comments

  1. Is there any specific area that these luxury homes deals are most prominent, by what you can tell? I mean, do you see more deals in a specific area like the outer edges of Gilbert, Tempe, Queen Creek etc?

  2. There’s an area in North Scottsdale that has some incredible deals on newly constructed custom homes. Many of them are bank owned at half of what their original value was.