So what’s currently happening with Chateau De Vie real estate?
Well, at present, there are 20 units up for sale, ranging in price from $140,000 all the way up to $295,000 with an average asking price of $221,000.00. Remember that the asking price is what someone thinks it’s worth, not what it’s actually going to sell for. In the past 6 months, 5 units have sold ranging in price from $148,000.00 up to $258,000.00 for an average sale price of $203,000.00.
Average asking price per square foot in Chateau De Vie comes in at $142.00 per square foot. Sold properties indicate that the average price per square foot value is only $129.00 per square foot.
As in most areas of the Valley, pricing in Chateau De Vie ranges from excellent value to undeniably unrealistic, and that can be proven by looking at a comparative market analysis of the area, showing that those who have priced their homes too high have been on the market for over 500 days.
Short Sales and Bank Owned Home Opportunities
Of the 20 properties that are listed, there is only one unit that is listed as a Short Sale, which represents only 5% of the inventory. 2 properties are being offered as bank owned, which is a mere 10% of the inventory available. In a valley market where a majority of the homes being sold are pre-foreclosure or bank owned (REO) properties, it’s refreshing to know that our community is not as saturated with distressed homes. That of course remains to be seen as more people decide to bail out of their homes in an effort to prevent foreclosure due to adjusted mortgages and overextended lines of credit.
Bank Owned properties have been selling in Chateau De Vie. In fact, at the rate of one per month, the average sale price for bank owned Chateau De Vie townhomes sits at $177,000 or $111.20 per square foot. The average asking price, at $182,000 or $114/per square foot, shows that there’s only a price variance of about 3% between the asking price and the sold price. This lets us know that the banks are either pricing the properties just right, or they’re not being as flexible in negotiations. I think they’re being priced right.
The good news is that there are only 2 bank owned properties up for sale right now. The bad news is that until these REO properties clear up, every sale at the bank owned average price range hurts the non-distressed home owners in the area.
Popularity: 87% [?]
Related posts:
Loading ...
