10.31.09
The very nice and highly upgraded Velez at 3729 E. Robin Ln, lot 849
closed for $475K or $125 a sq ft 10.13.09. Priced at $925K when new to
the market on 1.28.09, it had pricing of $875K, $750K, $699K and finally
$475K on 6.24.09 and was under contract 8.7.09. This is a great example
of why it is important to price a home correctly from the start. The market
does not care what value the owners place on a home they filled with love
and worked hard to make a great home. This is why emotions are killers in real
estate transactions. Congratulations to all on the close. 
The Anguilla model at 22212 N. 36th St, lot 810 sold for $540K or $140 a sq ft.
This sale is a bellweather for our home values as investors saw a value and
purchased it for $433,400 at the trustee sale. Some cleanup, on the market for
$530K and under contract in 3 days. Sold for $10K more than asking. If this
was not a value home it would not have been bought by investors and the bank
would have got it back. 
The Venezia model at 21910 N. 36th St is back on the market after a contract
fell out. Priced at $385K, this home is a very moderately upgraded home that
would be great for investors. Already has a tenant in place. Here is hoping
a wise investor picks it up before it goes to the bank.
It will be interesting to see what happens with the new Mirador listing at
23256 N. 38th Pl, priced at $600K and a trustee sale date of 11.30. 6850
sq ft is as big as they come in Aviano with a basement and 6 bedrooms, 5
baths and a 4 car garage.
There are currently 3 homes under $400K in Aviano. 7 priced in the $400's
and 6 priced higher than $500K. It will likely stay at this level for a while.
Opportunities exist to slid into second or third or fourth position on the
homes that are AWC as time takes it's toll on those waiting for banks to make
a decision. When you look at the length of time some of these have been under
contract it may be that the backup offers have moved on.
There are currently 6 homes for lease in Aviano with prices ranging from
$2850 to $3600.
Success is getting up one more time. Have a great week.
