Located in the charming, gated community of Arroyo Madera Estates, we have a short sale offering that is truly a rare find:  Interior location, two car garage with work sink and built-in storage, walk-in laundry room, vaulted ceilings, dual-pane windows, ceiling fans, kitchen with all appliances included, tiled dining area, great room with gas fireplace, quiet patio with nice landscaping and greenbelt view–just steps from the community pool & spa, two master suites plus a third bedroom–all with walk-in closets, half bath downstairs for guests, security screen door, huge loft area with built-in desk and cabinetry, window coverings, six panel doors and much more!  The community of Arroyo Madera Estates is ideally situated in Scottsdale. Residents can walk to the ever popular Scottsdale greenbelt which boasts miles of walking/biking paths and beautiful lakes–there is also great shopping and dining just minutes away.

Courtyard style entry

View to lush greenbelt

There is only one lender [Indy Mac] on this property and Indy Mac has a streamlined short sale process.  Listings rarely become available in this community and this property will surely sell quickly.

For more information about this property or short sales in Scottsdale , please contact the Luxe Real Estate Group at 480.948.6260.

Short sales are the best option for many owners of resort and vacation real estate in Scottsdale Arizona.  However, this alternative to foreclosure will not work for sellers who expect to make a profit from the sale of their Scottsdale AZ homes.  Those sellers are best off seeking loan modifications.

Sellers of Greater Phoenix real estate are at the mercy of their lenders during the negotiations for short sales.  Caught in difficult situations, they are usually behind on house payments with no end of challenges in sight.  Distressed sellers need to remain humbly aware that for short sales to work, the lenders must agree to accept a loss of funds.  Consequently, sellers who want to be successful in their proposals to do short sales had better follow their lenders’ guidelines to the T.

The first step to a short sale is calling the lender.  It is important to speak with the person capable of making decisions about short sales.  Sellers should be aware that requirements for short sales vary from lender to lender.

Listed below are some commonly requested documents:

• Letter of Authorization sent to the lender allows the lender to communicate with the real estate agent, lawyer, and the title company.  It should include the property address, loan reference number, seller’s name, date, and name and contact information for real estate agent.
• Closing sheet, prepared by closing agent or lawyer, to illustrate estimated sales figures.
• Hardship letter to explain circumstances and causes of financial problems.
• Proof of Income & Assets document that discloses resources, assets, and accounts.
• Comparative Market Analysis (CMA) prepared by your real-estate agent to describe market and property value declines that are affecting sale of the property.
• Purchasing Agreement
• Listing Agreement
• Copies of bank statements and an accounting for each deposit along with evidence assuring continuing deposits.

It is highly recommended for sellers to confer with professionals such as real estate agents, real estate lawyers, and CPAs before proceeding with short sales.  Some states allow lenders to pursue borrowers for the difference between the amount owned and the amount paid.  In some instances, the shorted amount is taxable income.  Unforeseen details dampen the short-sale transactions.

Most states require credit reporting by lenders.  However, sellers may ask lenders not to report the short sale.  Occasionally, lenders will oblige but normally a short sale registers on the FICO score the same as a foreclosure.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-888-900-LUXE.

The internationally acclaimed Desert Highlands Golf Club features some of the most beautiful homes in Scottsdale Arizona.  Spread through its 850 acres, the exclusive Scottsdale AZ real estate includes 575 home sites beginning in the $300,000 to $600,000 range, membership included.  Since it was established in 1983, over 500 custom Scottsdale homes have been constructed.  Prices range from $1-8 million.

This extraordinary real estate in Scottsdale is convenient to amenities and art centers at Old Town Scottsdale and Carefree.  It is near medical services such as the renowned Mayo clinic, shopping, restaurants, and schools.  With only a 30-minute drive from Downtown Phoenix real estate, residents of these wonderful Desert Highlands homes also enjoy plenty of cultural and entertainment options in the big city and proximity to Sky Harbor Airport. 

Desert Highlands offers exceptional Sonoran Desert living for residents.  A Jack Nicklaus Signature-design golf course extends throughout the private gated community.  The community also features an award winning clubhouse, golfing in the footsteps of the legends, an extraordinary tennis program, and fitness center and spa. 

Blended into imposing granite outcroppings, the 30,000-square-foot clubhouse is like a jewel set into the mountains.  Designed by William Zmistowski, the refreshingly elegant masterpiece features magnificent views from the formal dining room, informal dining, bar, private dining areas, and from terraces that cascade down the hill to the pool.  These gathering spots look out over breathtaking Arizona sunsets.

The award-winning clubhouse does not steal the glow from the acclaimed golf course, though.  Golf Digest ranked Desert Highlands as one of the top desert golf courses in the country.  The first two Skins Games (1983 and 1984) took place here with Jack Nicklaus, Arnold Palmer, Tom Watson, and Gary Player.  From the tips, Nicklaus designed 7,072 yards of marvelous challenges.  As the desert is abutting the fairways and greens, Pinnacle Peak looms overhead with the city lights below in the distance.

Desert Highlands Racquet Club, a premier facility with its own clubhouse, lounge, and fully stocked tennis shop, features 14 tennis courts with grass, clay, or LayKold surfaces.  The courts also blend into the desert setting.  The club offers frequent member socials, tournaments, and interclub play.  Approximately 150 club-ranked tennis players enjoy the state-of-the-art tennis facilities.  Just as fabulous, the superb spa and fitness facilities cater to the health, well being, athletic conditioning, and relaxation of Members.

Desert Highlands sets a higher standard in community, amenities, and individualized, environmentally harmonious architecture.  In fact, the Covenants, Conditions and Restrictions became the model for other gated communities in the American Southwest.  Honored as Most Beautiful Clubhouse in America and Best Club with Locked Gates among other accolades, Desert Highlands delivers the grace of a lifetime of dreams.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-888-900-LUXE.

Third Avenue Lofts located in old town Scottsdale offers residents the ultimate in urban living. The commercially constructed development is ideally situated within walking distance to shopping, dining and Scottsdale nightlife. Residents at Third Avenue enjoy a full-time concierge, fitness center, secure building, underground parking, heated pool and spa and proximity to countless urban amenities.

One of the nicest lofts in the building is unit 222–it is a stunning corner unit with two large terraces and it offers incredible views of Camelback mountain. Encompassing over 2200sf, the unit is loaded with luxury materials and exudes warmth and comfort. In both 2006 and 2007 the unit appraised for over $1.6 million dollars; however, the seller is highly motivated and as such, she has greatly reduced the price to $995,000–a steal even in this market.

Unlike many lofts of similar size, this spectacular unit also comes with three side-by-side parking spots and a storage room. To find out more about this special property or to schedule a private showing, contact us today!