It’s located at the Biltmore Estates golf course. Got a cool $7 million? All 18,000 square feet of this mansion can be yours. It’s only the market for 6 months, too, which in the land of luxury real estate is about 1/10th of a second.

Last December (was that a mere 10months ago?) it was listed for $12,500,000. Talk about market decline! That’s a drop of nearly 1/2 in 10months.

Here’s some pictures of the compound…

Her closet

His closet. And, his library … Clearly, the man who owns this home is A Very Serious Man who makes a lot of Very Serious Money.

The wine cellar (frankly, the way the photographer shot it, it looks more like an M.C. Escher drawing to me)

2 washers and 2 dryers. Because everyone knows the Very Wealthy have Very Dirty Clothes.

Apparently, the sheer weight of the former owners’ wealth bent the space-time continuum in the ceiling of the master bedroom…. I’m a little dizzy looking at it.

Enjoyed these photos? See more foreclosed homes of the formerly Super Wealthy, elsewhere on our blog. And if you’re actually shopping for a home in this exclusive price range, don’t hesitate to call me. I actually do have regular experience helping buyers in the luxury markets in metro Phoenix, Arizona. I promise to keep my mild snarking to myself when we’re home shopping.

Most expensive bank-owned home in Phoenix is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. Bank owned home for $11,000?!
2. Buying Bank Owned Homes
3. Bank-owned Listings are like the Clearance Rack

Here it is, folks, the most expensive REO bank owned foreclosure home currently for sale in the metro Phoenix, Arizona MLS database. For a mere $18 million, this estate can be yours.

Seven bedrooms and 10 bathrooms, and over 17,000 square feet of living space. The home boasts two swimming pools, a billiard room, 3 family rooms, a theater room with actual movie-house projection system and seats that move with the movie action. Garage space for 21 cars. Home has an exercise room and a piano room, 2 libraries, and it’s own solar electric generating station.

The closets in this place will suit turn anyone into a clothes horse…

The house sits on 5 acres in Paradise Valley, on prestigious Mockingbird Lane.  Want to see it in person? Shown by appointment only; bank references required prior to showing. That’s Realtor-speak for “show me the money before I show you the house.”

And, proving that even the excessively wealthy have sense of humor, at the entrance to this home’s theater room, Zoltar from the movie Big.

Most expensive REO is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. Peoria’s newest Harkins Theater opens this weekend
2. Having Low Credit Score is Expensive
3. Big Gulp – the most expensive product in history?

update November 11, 2010: this home is rented. If you would like help finding other rental homes in the Greater Phoenix area, please contact us.

We’ve got a great rental property available in Goodyear, just about 1 mile south of the I-10 off the Estrella Parkway exit. Single-story home built in 2007. Four bedrooms and 3 bathrooms; just over 1800 square feet. One bed & bath is split from the rest of the house and would make a great teen’s room, nanny’s room, study/office or the like.

Lovely neighborhood with tot lots and a park, and the local elementary school is not too far away to walk.

$1,075 per month and only $800 moves you in.

Recent bad credit will not be held against applicants.  Owner prefers no pets, no smoking allowed.

Know anyone looking for a super Westside rental? Send them our way. Call or text Heather at 602-999-8831, or email me at Heather@ThePhoenixAgents.com

(furniture not included, just here3 to show scale of room)

master bath

front & back professionally landscaped, easy-care desert design

upgraded ceiling fans, light fixtures throughout the home

Move in ready Goodyear rental is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. Move In Ready in North Phoenix
2. Selling your Rental House
3. More on Selling your Rental Property

Sometimes a head-on shot of the exterior front of a house isn’t the best way to showcase what the home has to offer.

Sometimes you should take a picture from an angle you’d never normally use.

That’s the same house and the two pictures were taken within about 60 seconds of each other. You’d hardly even know it. While it’s a very unusual angle for a real estate “front” photo, I’d argue that picture number 2 is the better way to showcase this home.

thoughts?

Photographing the front of your house is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. Don’t leave your house naked
2. Do Mounted Flat Screen TV’s Stay With The House?
3. New house, same old lot

Wherein I periodically post about the highest and lowest priced homes in the local MLS. Properties must be:

• single family, detached homes
• bank owned
• currently Active in the ARMLS (AZ Regional Multiple Listing Service)
• located in the general metro Phoenix region (Wickenburg, Florence, Coolidge, etc are excluded but Surprise, Buckeye, Queen Creek, etc are included)

$4,100 – No, that’s not a typo

4 bedroom, 2 bath, 1738 square feet built in 2002. Located in the West Valley near the intersection of Glendale & Dysart roads.

(click to enlarge any image here)

Listing Realtor’s notes state: “Please View property before making offer. Home has many cracks inside and out.” I’ll say. . . .

The seller’s Realtor’s notes go on to say “15+ offers received we will submit all offers Friday 7pm expect seller response mid-week.”

I’m no builder and I haven’t seen this house in person but it looks in pictures like the home is shifting right off it’s foundation. Or maybe it’s on top of expansive soil. Regardless, this has got to be a case of either major repairs or tear the whole thing down and rebuild it. It’s located in a neighborhood with a Homeowners Association (HOA) so you’d have to comply with their rules for either project. I’m astounded that anybody would want to pay anything for this home.

What do y’all think??

Buddy, can you spare $5 . . . .million?

Nearly 12,000 square feet under roof, on 4.7 acres near Pima & Happy Valley roads. Originally listed in November 2006 for $10,000,000!

click to enlarge any photo here

Venturing out on a limb here, my personal opinion: this is bad taste on an epic scale. That bathroom makes me feel like Las Vegas, and not in a good way. What do y’all say? Luxurious beauty? Or Liberace’s hideaway?

Oh by the way, last episode’s $6.5 million dollar luxury estate in Silverleaf is still for sale. View other posts in this series.

That’s it for today’s Highs and Lows. Thanks for reading! Call, email or text us if you’d like helping your bank-owned bargain.

Heather, 602.999.8831
Chris, 623.570.9940

The Highs and the Lows #4 is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. The Highs and The Lows
2. The Highs and the Lows 2
3. The Highs and The Lows #3

We have the most adorable, spic-and-span clean, move in ready house for sale and wanted to take a minute to tell y’all about it. You can see more pictures and info at http://phoenixhomes411.blogspot.com/.

• great North Phoenix location
• $129,950
• 3 bedrooms
• 2-1/2 baths
• 1,753 square feet
• built 2004 on a corner lot
• all tile roof, stucco exterior
• backyard has grassy area, extended covered patio, small desert landscaped area too
• tons of storage inside & out
• walk in closets in every bedroom, even a walk in kitchen pantry

Long time readers know that I can get pretty worked up about certain things in the housing market. One of them is homes that are really well maintained, show well, and are such a great value. With these homes, I can find myself wound up to the point where I can hardly stand it that someone hasn’t pounced on the great deal I know about.

This is one of those homes! Go check out our home showcase website to find out more.

Move In Ready in North Phoenix is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. 6 E. Glenn Dr. – A North Central Masterpiece!
2. North Phoenix Active Listings – year over year comparison
3. House for sale in North Central Corridor

Views Like This …

…Price Like This – $74,900

2 bed, 1.5 bath condo, 984 square feet, built in 1984, North Central Phoenix location near freeways 51, 17 and 101, as well as shopping & dining at both Desert Ridge and Paradise Valley mall.

Want more info, pics and virtual tour?

Click here.

New Listing – Condo on the Mountain is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. New Listing, Golf Course Getaway
2. New Listing – 17521 N 84th Ln
3. New Listing – 8527 W Jocelyn Ter

27617 N Makena Place
Peoria AZ 85382
Located in the Active Adult Community of
Trilogy at Vistancia

Offered At $449,000

Specification, Features and Finishes

• 2 beds, 2 baths, plus den
• 2,193 square feet on a golf course lot
• Sits at the top of the 16th tee: beautiful course views, no golf balls in the yard
• Great Room layout
• Large open Kitchen with Solid Stone Counters, Breakfast Bar, Eat-In Dining
• 18″ Diagonal Tile in Light Beige throughout, except bedrooms
• Upgraded Medium Beige Carpet in Bedrooms
• Plantation Shutters on all Windows
• Stainless Steel Appliances (electric)
• Guest Bedroom has two doors for entry, allowing guests to use as an en-suite for maximum privacy
• Master Bedroom and Guest Suite located on opposite sides of the home
• Click here to view a Web Based Flyer for the Home

View a Virtual Tour of the Home

View a Virtual Tour of the Community

Additional Pictures

If you’d like to view this home in person, please contact either

Heather@ThePhoenixAgents.com or 602-999-8831

OR

ChrisB@ThePhoenixAgents.com or cell 623-570-9940

New Listing, Golf Course Getaway is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. New Listing: La Crescenta Condominiums!
2. Moving Stills 59 – Kierland Golf Club
3. New Listing in Villa de Paz: 10020 W. Roma Ave

Wherein I periodically post about the highest and lowest priced homes in the local MLS. Properties must be:

• single family, detached homes
• bank owned
• currently Active in the ARMLS (AZ Regional Multiple Listing Service)
• located in the general metro Phoenix region (Wickenburg, Florence, Coolidge, etc are excluded but Surprise, Buckeye, Queen Creek, etc are included)

$20,00 Fire Damaged Tear Down

Fancy yourself a handy person? You’ll need to be. This 4 bedroom, 2 bathroom house in Maryvale Terrace was torched.

The exterior might be salvageable though and it seems like a nice big yard.

Recently, same-sized homes in the area that are move-in ready and remodeled have topped out at $80,000 to $90,000. I’m no contractor but it seems like you could rebuild this poor fire damaged little casa for $60,000. Again, I’m not a contractor but I’m not sure there’s room here to rehab it and sell at a profit.

Paradise Valley Acre Plus, Rebuilt in 2007 – $4,085,000

Check out that view of Camelback Mountain in the upper left of this picture! That’s worth a million right there. The lot is 1.14 acres, so there’s another $900,000 or million in value.

The house itself is 8,422 square feet, 5 bedrooms, 6.5 baths, with a 4 car garage. It was completely rebuilt in 2007. Pictures seem to show it was 100% torn down and rebuilt, not just remodeled.

Based on this picture, the home has everything you’d expect in a home in this price range: built in island and cabinetry that can pass for being hand carved in the mythical Old Country, miles of slab granite and travertine, stainless steel double stoves (probably Viking), high ceilings and crown molding … just enough to make your neighbors jealous.

Personally, I say “so much for the idea that bank-owned homes are screaming great bargains.”  I think this house is probably worth about what they’re asking for it, maybe even less.

What do you think?

View other Highs and Lows posts.

Technorati tags:  Phoenix real estate

The Highs and the Lows 2 is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. The Highs and The Lows
2. maybe the WORST LISTING EVER!

Wherein I periodically post about the highest and lowest priced homes in the local MLS. Properties must be:

• single family, detached homes
• bank owned
• currently Active in the ARMLS (AZ Regional Multiple Listing Service)
• located in the general metro Phoenix region (Wickenburg, Florence, Coolidge, etc are excluded but Surprise, Buckeye, Queen Creek, etc are included)

$12,500  Handyman Special

Built in 1963 with 3 bedrooms and 1.75 bathrooms. It’s 1,374 square feet with a 1-car carport and no pool on a lot of 6,312 square feet. It’s located about 1,200 feet from the campus of Grand Canyon University, so it might make a fabulous little student rental for some lucky investor.  At this price, it’s almost 100% guaranteed that lenders won’t touch the deal, so bring your checkbook. Recently homes nearby & similarly sized, with most or all of the remodeling work done have sold in the mid $50,000s. Rents in the area seem to run about $850/month.

$4,250,000 Old World Villa on 1.5 Acres

Built in 2003, this 7,998 square foot beauty boasts 5 bedrooms, 5-1/2 bathrooms, a large rectangular pool, a 4-car garage and an 800 square foot guest house.  It sold in April of 2002 for $4,300,000 according to the MLS data. Interestingly, the tax records show a transaction at that time with a sales price of only $2,850,000. Don’t know what kind of shim-sham was going on there. Looking for a little something for your sweetie? Contact Mid First Private Bank. Or us. Heck, go with us.

View other Highs and Lows posts.

Technorati Tags: Phoenix Real Estate Statistics

The Highs and The Lows is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Heather Barr is a Realtor and a happy workaholic. She eats more than someone her size ought to be able, and is a runner as a consequence. Her TiVo's full of spy thrillers, police procedurals and Whedonesque sci-fi.

Other posts you might like:

1. The Top Three Sales in Desert Ridge for August ‘07
2. The Top Three Sales in Desert Ridge for November ‘07
3. The Top Three Sales in Desert Ridge for September ‘07

Last week I came across a home – listed for sale in MLS – that might take the cake as the worst listing ever.  Fortunately I had my camera with me. 

I’m not going to count things outside the sellers’ control against them, such as the run-down neighborhood, the functional obsolescence, or the busy street nearby.  Pictured below are the things the seller had control over..

(and I saved the best for last, so scroll all the way through.)

Yes, that’s the carpet which greeted us at the front door.  If you don’t recognize it, that’s because they stopped making carpet like this in 1982!

I didn’t think I liked the carpet, until I saw the linoleum in the kitchen.  Then I got dizzy & wished for more carpet!  So I thought I’d stop looking at the floors…

Faux brick AND wood paneling.  Wow, what a bold design statement.  But what’s around the corner to the right?

yikes, I’m speechless.  and I didn’t have the courage to actually touch it, otherwise I’d tell you what kind of material that was.  OK, enough of this train wreck, let’s go out back.

Hey, not bad.  Good sized lot, well-built storage shed in the corner, block wall.  But it looks like there’s something on the gate – I’d better get a closer look…

LEASE KEEP GATE LOSED SO CRACK HEADS STAY OUT.

Geez, if only the gate wasn’t damaged so I could read the whole message…

The problem with this house is that it would cost more to make the house somewhat habitable than the house would be worth, even after the renovations.  So nobody is going to buy it – it basically has zero value.

Maybe the best thing to do is to show a little charity – maybe leave the gate open and give the crack heads someplace to stay?  I’m just brainstorming here…

Your still in shock Realtor,

Chris Butterworth

maybe the WORST LISTING EVER! is a post written by The Phoenix Agents at Thompson's Realty. If you're reading this anywhere other than a feedreader (rss subscription) of ThePhoenixAgents.com, the site you're reading this on is guilty of copyright infringement.

Chris Butterworth is: Realtor. Analyst. Husband. Father. Writer. Amateur Photographer. Triathlete. Soccer Dad. Big fan of technology, efficiency, and the Arizona Wildcats.

Other posts you might like:

1. Listing in Surprise: Attention Investors!
2. New Listing: La Crescenta Condominiums!
3. New Listing, 830 E Peoria #1, Phx 85020