Find Your North Scottsdale Home - Get "Lucky" In Real Estate - Lisa and Matt Lucky
Kaufman & Broad at McDowell Mountain Homes For Sale
Arizona Vintage, by Kaufman & Broad, has only 92 homes ranging in size from 1350 to 2316 square feet. Located near the Desert Canyon Schools, Arabian Public Library, and McDowell Mountain Ranch Park and Aquatic Center.
Arizona Highlands, by Kaufman and Broad, consists of 110 single family homes ranging in size from 1846 to over 2700 square feet. Beautiful mountain views, natural open spaces and walking paths make Arizona Highlands very appealing. The community center is just a short walk away.
Here is a list of definitions often used to describe Distressed Properties.
Definitions
Short Sale
The "short" in short sale actually refers to the fact that the payoff amount agreed to in the transaction is "shorter" than the mortgage balance on the property. Simply put, there is more owed on the home than it will sell for.
Pre-Foreclosure
The owner is attempting to sell the property during the pre-foreclosure period, before the foreclosure can be completed. The term pre-foreclosure or preforeclosure is that period between when the lender files a foreclosure notice of default in the public records (Lis Pendens) and the date the property is to be sold at public auction or trustee's sale. Often lenders are taking back properties instead of holding the public auction or trustee's sale.
Lender Owned
Lender owned is just what it sounds like. Also called REO, which means real estate owned, or bank owned.
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Russ Lyon - Since 1947 - Our name is synonymous with fine properties. Lisa & Matt Lucky - Enjoying the North Scottsdale Lifestyle since 1997. North Scottsdale Relocation Specialist.