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Old 09-15-2008, 09:54 AM
 
Location: Home!
8,710 posts, read 10,144,214 times
Reputation: 8504

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Went searching in those areas yesterday to check out the homes, the area and to get a feel for it.

Turned the corner towards a park or maybe the city hall and it was just beautiful. Green, clean and very pretty.

Loved both areas. I think I like CH better, but prices are so high. We pulled a couple spec sheets out of the boxes and would have never guessed them to be at $500,000. I would have thought around $200,000. It is most likely my MI mentality. Nonetheless, it was discouraging.

The one condo my husband really liked in CH, was listed at $144,000. He was told it would never go for that as most condos in that community were going much higher. It is bank owned. HOAs were not cheap either. Oh well. May just have to wait longer. Or just keep renting, which bugs my husband to no end. (Doesn't really bother me though)

But, I just wanted to say that I loved both areas!
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Old 09-15-2008, 10:07 AM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,498,817 times
Reputation: 2661
Quote:
Originally Posted by kimba01 View Post
Went searching in those areas yesterday to check out the homes, the area and to get a feel for it.

Turned the corner towards a park or maybe the city hall and it was just beautiful. Green, clean and very pretty.

Loved both areas. I think I like CH better, but prices are so high. We pulled a couple spec sheets out of the boxes and would have never guessed them to be at $500,000. I would have thought around $200,000. It is most likely my MI mentality. Nonetheless, it was discouraging.

The one condo my husband really liked in CH, was listed at $144,000. He was told it would never go for that as most condos in that community were going much higher. It is bank owned. HOAs were not cheap either. Oh well. May just have to wait longer. Or just keep renting, which bugs my husband to no end. (Doesn't really bother me though)

But, I just wanted to say that I loved both areas!
I can't imagine where you were. There are half million dollar homes in the NW but they are pretty much all on half acres and 4500SF.

There are lots of quite nice 2000SF plus homes for around $250,000. The smaller three BR two baths go down to $150,000 and below..
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Old 09-15-2008, 10:57 AM
 
Location: Home!
8,710 posts, read 10,144,214 times
Reputation: 8504
Silverstone Ranch was where we have the papers for the homes going over $500,000. It was 3/2 with 2,560 sq ft. It did have a pool though. Not that we were looking for that specifically, it just happened to be one of the only ones with spec papers in their box.
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Old 09-15-2008, 11:42 AM
 
Location: Jersey City, NJ
638 posts, read 1,906,149 times
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Quote:
Originally Posted by kimba01 View Post

The one condo my husband really liked in CH, was listed at $144,000. He was told it would never go for that as most condos in that community were going much higher. It is bank owned.
Yep, that is a BS little game they play. The asking price is not really the asking price. They like to create little bid wars on the foreclosed homes. Its done opposite of how a regular private sales is done. When your agent runs the comps you will see that the asking price is usually a joke.

I just went through the same thing, but I actually bought my place for the banks asking price. There were no other offers. It needed ALOT of work, but it was worth it. Appraised for much more.

Keep at it, you will get there. I know right now finding a place seems daunting, but with the right agent you will eventually find the perfect place for you and at a good price.
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Old 09-15-2008, 12:04 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,098,953 times
Reputation: 952
Quote:
Originally Posted by MR77 View Post
Yep, that is a BS little game they play. The asking price is not really the asking price. They like to create little bid wars on the foreclosed homes. Its done opposite of how a regular private sales is done. When your agent runs the comps you will see that the asking price is usually a joke.

I just went through the same thing, but I actually bought my place for the banks asking price. There were no other offers. It needed ALOT of work, but it was worth it. Appraised for much more.

Keep at it, you will get there. I know right now finding a place seems daunting, but with the right agent you will eventually find the perfect place for you and at a good price.
Not always true. For the most part you may be right, but I am working with a client right now that is under contract on a bank owned home in rather good condition. It was listed at $129,900. We went under contract for $125,000 and got $6000 in closing costs. There were no other offers and we have had very few issues thus far.
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Old 09-15-2008, 12:14 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,498,817 times
Reputation: 2661
Quote:
Originally Posted by kimba01 View Post
Silverstone Ranch was where we have the papers for the homes going over $500,000. It was 3/2 with 2,560 sq ft. It did have a pool though. Not that we were looking for that specifically, it just happened to be one of the only ones with spec papers in their box.
There are currently 7 homes for sale in Silverstone over 500K. Only one has a chance of actually selling over 400K! It is pretty much all wishful thinking.

At present the bottom listing is 170K...on occassion they get as low as 150K.

There are lots at 1896SF under 200K.

The 2000+SF start at 190K. All homes above 250K are above 2000SF.

I don't recommend the lower end of Silverstone...it is cheap enough that the investors are having a field day and I worry that the lower priced neighborhoods may be less than desirable.

Up out of that range Silverstone is fine. So above 225K or so.

There are some less elegant neighborhoods out that way that are a much wiser deal at the lower end. Spring Mountain Ranch for example. There are also some good deals in Log Cabin and around Racel and Durango. Our favorite is Tule Springs Ranch but that is a little higher price point.
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Old 09-15-2008, 01:47 PM
 
Location: Jersey City, NJ
638 posts, read 1,906,149 times
Reputation: 415
Quote:
Originally Posted by Daddys///M3 View Post
Not always true. For the most part you may be right, but I am working with a client right now that is under contract on a bank owned home in rather good condition. It was listed at $129,900. We went under contract for $125,000 and got $6000 in closing costs. There were no other offers and we have had very few issues thus far.

Right, once I found a place with no other offers, it was a breeze. I also got much more than expected in closing costs.
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Old 09-15-2008, 06:36 PM
 
1,962 posts, read 3,750,520 times
Reputation: 1077
Quote:
Originally Posted by kimba01 View Post
Silverstone Ranch was where we have the papers for the homes going over $500,000. It was 3/2 with 2,560 sq ft. It did have a pool though. Not that we were looking for that specifically, it just happened to be one of the only ones with spec papers in their box.
There are a lot of foreclosures in Silverstone Ranch as well as homes for sale that have pools and nice lots. Olecapt is correct, anything over $225K should be pretty easy to find in Silverstone.
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Old 11-21-2008, 05:30 PM
 
1 posts, read 3,263 times
Reputation: 10
Thumbs down Silverstone Ranch HOA--Beware

Beware of Silverstone Ranch HOA. They bullly and harrass homeowners. There are foreclosed homes all around me on my street with dead/decayed landscaping, but they have complained about my yard twice--the problem: the dead foliage is on the neighbor's property. But the threatening letters keep coming. All of our plants alive and well, but that doesn't stop the harrassment. FYI we're a family of teachers and doctors. We're not some dirtballs with an axe to grind.
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Old 11-21-2008, 06:07 PM
 
1,359 posts, read 2,753,434 times
Reputation: 853
Kimba, since you are from Michigan and I am in Ohio and we are accustomed to the same look, didn't you have any problem with how those neighborhoods are laid out? I keep finding things I'm interested in located in CH and Aliante but when I get on Google's street view map and cruise the streets, I'm in culture shock. There are some beautiful houses there but I know I can never adjust to houses stacked up right against each other and only a cars length distance from the street and absolutely no vegetation. That's the big problem I'm having. I find beautiful houses with community ammenities but the way the neighborhoods are planned, they are so depressing. It's only rarely that I come across something that puts it all together; great house at a good price with huge great room, at least 20 feet between houses with some plantings and vegetation and about 25 feet off the street with a backyard that is not blocked in with a prison walled cement brick wall.
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