In any given month, distressed sales (foreclosures,short sales, or trustee sales) account for over 50% of the total sales in most all of the Phoenix valley cities. Ski lake properties have been somewhat insulated from this type of transaction, but during 2010 distressed sales have increased in these unique waterfront communities. Three of the Phoenix ski communities had no recorded sales of any kind in 2010. All sales during the year ocurred in Gilbert ski lake communities; Crystal Point, Santan Lakeside and Playa del Rey Estates. 33% of those were distressed sales.
Crystal Point had three sales; one of which was a distressed sale. A 18,000 sq.ft. waterfront lot sold at mid-year sold for $400,000. A traditional equity sale of a 4,400 sq.ft. home ocurred in October 2010 for $1,050,000. In the 4th Qtr., a 3,950 sq.ft. home was purchased at the trustee sale for $752,000. There are currently two short sales and one traditional property for sale in Crystal Point.
Just around the corner from Crystal Point is Playa del Rey Estates. The main ski lake saw two sales during 2010. One was a traditional equity sale of a 2,800 sq.ft. waterfront home for $418,000, while the other sale was a bank-owned foreclosure for $582,000 of a 4,500 sq.ft. waterfront home on the main lake.
Santan Lakeside Estates located in south Gilbert registered 4 property transfers in 2010. The sales prices were $312,500, $277,500, $287,000, and $230,000, one of which was a bank owned lot. The bank-owned lot sale closed escrow at the beginning of the year for $312,500. The subsequent sales were traditional sales with the last one for 2010 in October for $230,000.
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5 beds, 4 baths
Home size: 4,561 sq ft
Lot Size: 10,019 sq ft
Added: 07/05/19, Last Updated: 08/08/19
Property Type: Single Family
MLS Number: 5944062
Community: PLAYA DEL REY ESTATES
Tract: PLAYA DEL REY ESTATES
Location is Everything! Waterski, Wakeboard, Jet Ski and Kayak from Your Own Backyard in this Private Recreational Lake Community. Interior boasts spacious, light-filled rooms, wood plank flooring and beautiful South facing lake views. Home has been updated to include newer appliances, A/C, interior and exterior paint, Lutron Caseta smart home lighting system and more. Massive master suite opens to 450 square foot deck overlooking the lake. Split floor plan with multiple living spaces offer convenient options for guests and multi-generational living-3 bedrooms and 2 full baths downstairs plus large home office. Add the ultimate media and game room if desired! Expand the outdoor living space w/lakeside dock-covered boat house included (hydraulic lift available) for direct lake access.
Listed with Platinum Living Realty
Brought to you by Gordon Baker, Remax Alliance Group. Call me today at 480-326-8571, or visit my website at www.myhomeinaz.com/!
Waterfront information can be found at Gilbert Water Ski Property.