$76 per square foot in Gilbert Caught my clients eye. This house:
- was built by William Lyon in 2004
- has 2,159 sq ft with three bedrooms, 2 1/2 baths, and a two-car garage
- has community pool with a low HOA fee of $53 per month
It looked a lot better on the outside then it did on the inside. We expected the house to need paint and carpet, but the house had virtually no upgrades. There was linoleum on the kitchen floor, laundry room, and all bathrooms.The master bathroom not only had one sink, but it had a one sink vanity. In other words, even though the master bathroom was rather large, there was only room for one person in front of the mirror at a time. There was so much room in the master bathroom it looked like you could put a recliner in it. Builders shouldn't allow buyers to "downgrade" a house this cheaply.
Here are the financials:
- bought on August 11, 2006 for $325,000
- listed on May 6, 2008 for $280,000
- lowered over a five-month period until it reached the current price of $165,000
However, this house is a short sale without a bank approved price. If a bank representative actually saw it, there would probably be no problem selling it for $165,000 (or less).
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