Located off Mountain View Rd just to the west of the 101, Rancho Antigua Condominiums are a conversion that didn’t get quite complete. The developer has 18 units going up for auction scheduled for November 6^th, with prices from $200k to $395k.  (check out the auction site)

The foreclosure located in Scottsdale’s  Rancho Antigua is priced at $244,900 this 3 bedroom 1609 sq ft condo conversion doesn’t stand a chance of selling for a while.   The developer has just placed all unsold units on the auction block.  at an absolute sale.  The list price on the developers units for this sq. ft. is $200k.    

So here is another one that just doesn’t make the cut.

If you would like more information on these properties or any others contact me Irene@I-Hammond.com

Posted by Claudina:

In the McCormick Ranch community of Paseo Village there is a foreclosure with 2564 sq ft for $399,900  with 4 bedrooms and 2 baths.  I don’t know what to say about this one. The location is great, it has greenbelt on the rear and side, from the outside and the photos, I was sold, which goes to show you that not everything is as it looks.  You enter to a large formal living room on one side, dining room on the other, there is a fun sunken “conversation pit” in the family room with a beehive fireplace, there is still enough room for another seating area and a big TV.

  The kitchen needs everything.  The master bedroom is very large and the bathroom is big enough for a great remodel and you would have a super master suite.  You have good sized rooms to work with in this home.    The back yard is private and well treed with a diving pool.  The garage needs a new door. But the turn off is that it smells like someone had a whole herd of cats living in it.  The rugs are stained all over with cat urine.  (as you can see in the photo above) If there is anyone out there who has a cat urine removal trick, then this house could be a good buy for them.  I wish them luck. 

We compared this home as best we could with the next closest comparable with 2462 sq ft, 4 bedrooms.   The comp is listed for $474,900.   It is a corner lot, siding to Paseo Del Sur which is a fairly busy interior street.  The most stunning thing about this home was the real wood floors throughout the home.  The kitchen was remodeled, but it really looks like they just put on new doors. The countertops are epoxy cement.  The fireplace in the family room is an artwork in tile.  It has a large back yard with a diving pool.   The two homes are similar in sq. ft., rooms, diving pool and lot size.  I may be prejudiced because of my experiences, but  it is worth $75k to me not to deal with cat odors and I would take on this one.

Be sure to check out the post "The Cat House"… or when a good home goes bad 

This bank owned property is located in the Pleasant Run subdivision of Scottsdale’s McCormick Ranch.   It is a 195 town home subdivision with 2 pools, spas and tennis courts and is an entrance to the Camelback Walk.

The foreclosure is priced at $302,900. It is a   single level with a 1  car garage There are three other properties with identical floor plans in the complex with full 2 car garages and assessor measured sq ft of 1590.  The most comparable one is priced at $333,000, the next at $369,900  and the last at $425,000.   The foreclosure listing erroneously says it has 3 bedrooms and 1702 sq.ft.   The 3^rd room is an office built into half of the garage, no closet, and still has the garage step down.  The floors are tiled except for the bedrooms.  The bathrooms and kitchen are original, the kitchen cabinets are painted and have a Corian type countertop. The big skylight is original.  Roof and A/C system conditions are unknown.  The appliances were stainless and black mixed, the refrigerator is absent. The patio is covered and backs to the community of Santa Fe’s exterior wall.

The most comparable listing to it, priced at $333k has an identical floor plan, tile in the same places, carpet in the bedrooms. The patio on the foreclosure is more open, with half walls.  The comparable has enclosed walls.  Both units are placed well back from Hayden Rd so noise is not a factor.  In the unit for $333k the bathrooms have been updated.  The bathrooms and kitchen have maple cabinets, the kitchen has matched Kitchen-aid appliances and a granite tile countertop.  Since this is not a foreclosure, we have information from the seller saying that the roof , a/c and skylights have all been replaced.

So is this Foreclosure a good buy?   I say not.  The work needed to upgrade it to the level of the comparable will far exceed the $30k price difference.

To find out more about one of these properties, or any other please contact me Irene@I-Hammond.com

I have been getting calls about foreclosure homes.  What a surprise, with what the media talks about all the time.  So I thought I would focus on Foreclosures for a while.  Lets find out if they are a great bargain, or are they too much work and effort for the price. 

Currently in Scottsdale’s McCormick Ranch area, the zip code of 85258, there are a whopping 19 foreclosure properties with a total of 571 active listings currently in the same area.  That is 3.3% of the market.

There is  a wide range in these foreclosures as well.  9 are single family homes, 5 are patio homes and town homes, and 5 are apartment style condos.  They range from a 1 bedroom, one bath 727 square foot condo listed at $113,900: to a 6,584 square foot, acre and a half estate home, with private tennis court, pool, and all the goodies you would expect to find in a $3,150,000 home.

So lets explore the details of the foreclosure market…

The Belcara condo community was renovated and went from a renal apartment complex to a condominium complex in the past 5 years.  This condo conversion is certainly priced nicely at $132,900 for McCormick Ranch. It is a 2 bedroom ground floor end unit with 901 sq. ft.

The closest comparable 2 bedroom  is an end upstairs unit.  It is 250 sq ft larger and has a second full bathroom.  It is $37k  more.  At $169,900 with 1,157 sq ft.  It has stainless appliances, the foreclosure has white appliances.

Both units have all of their appliances, even a washer/dryer, both have a 1 car carport.

True, the foreclosure  is only a 1 bath arrangement, but that bath is a dual entry, with separate sinks at each side,  Jack and Jill as we call them.   It is an end unit, ground floor with nice views of landscaping and the fountains.

It is a very pleasant setting for a condo.

I think it is a good deal if you don’t absolutely have to have the 2^nd bathroom.

To find out more about this property, or others send me an email

Irene@I-Hammond.com

A town home in Scottsdale’s McCormick Ranch,  Santa Fe subdivision  for $409,900  with 2046 sq. ft.  This two story town home has the master bedroom and bath upstairs, a second bedroom and bath with a den downstairs.  It has travertine tile throughout. The home is located on a cul-de-sac  just off McCormick Parkway so has a noise factor to consider.

I compared it with the next 3 bedroom property in the same community of Santa Fe, also a foreclosure, bank owned property,  priced $45k higher at $455,000 and 2295 sq. ft. but an identical floor plan.  It too is on a cul de sac and is one lot off Hayden Road so it also has a big noise factor.   Both homes have south exposure back patios.

The kitchen in number one has been gutted of all appliances, the cabinets are

near bottom of the line. The bathrooms have been remodeled, but may not appeal to many.

The closest comparable has a nice kitchen,  cabinets, and counter tops, is clean and could be moved into with just a new refrigerator.

My opinion?  The noise coming off Hayden is a big problem in the house listed for $445k If the a/c and roof conditions are the same, $45k buys a new kitchen and new carpeting , painting and redecorating the bathrooms.  The newly listed town home at $409,900 would get my vote.

Get more information on this or another property email me at

Irene@I-Hammond.com