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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3 beds, 3 baths
Home size: 2,861 sq ft
Lot Size: 9,584 sq ft
Added: 10/08/22, Last Updated: 11/14/22
Property Type: Single Family
MLS Number: 6474273
Community: PLAYA DEL REY AMENDED
Tract: PLAYA DEL REY AMENDED
The price of this listing was last reduced on 11/14/2022 by 5%
WATER SKI LAKE FRONT PROPERTY!!, The only home on ARMLS on the water ski lake in the gated community of Play Del Rey. This update to the interior of this home was just completed, new flooring, SS appliances including a new built-in ice maker, trash compactor, microwave, smooth top range, built-in oven and dishwasher. New light fixtures and more. Amazing views across the back of the home of the negavite edge pool with hot tub, fire pots and built in BBQ perfect for entertaining. Ski year round right from your back yard with direct access to the lake from your backyard. 3 car garage with builtin cabinets for lots of storage.
Listed with Kenneth James 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.