Horse properties with dirt roads (Mesa, Gilbert: sale, property taxes, live)

[observer53]

Originally Posted by sh9730

How bout this one - HALF the price and very nice - 53 mins to Sky Harbor according to Google Maps, probably faster in the real world since you can jump right on I 10.

4471 W RANDOLPH RD, CASA GRANDE, AZ 85194 - MLS# 4652369 - ZipRealty

There are a couple others on the fringes of Casa Grande, but this was my personal favorite. Looks well kept with rocks on the main dirt roads to minimize dust....

It's not faster in the real world in morning drive time, but it's a nice property. I get the impression the OP wants to be a little more in the metro area, but it might be worth a look. It's actually less remote to a lot of the metro area than the San Tan Valley one.

[lisa627]

We are in temp housing so it's good to know about medical facilities.

We must have dirt road as we drive horses and I don't drive on pavement and no way to condition on pavement. Too hard on their feet, legs and joints. Dirt roads only for us. The vast majority of trails are too narrow and or rocky for marathon carriages.

I think we have seen two that we like and have offered on one. Problem is that most of these properties have NO comparables so I swear they made up the list prices. First market I've run into that one!!! Sellers FYI -they still have to appraise and even if you find a cash buyer they often want an appraisal! That part is driving me nuts!

Originally Posted by observer53

Some of your earlier posts about hospitals sounded like you'd already found something.

Dirt roads getting harder and harder to find close in. Dust abatement issues, etc. The only place I can think of is New River, but I don't know if there's anything out there in that size and price range, and it would be right at 50 minutes close to the freeway, over that if you were further away or during morning rush hour. On a quick Google search though, I'm not seeing anything at three acres, though the prices are much lower than your range.

Why is being surrounded by dirt roads important to you? You may well not find that size property, in an area like you describe, in your price range.

[lisa627]

That one is GORGEOUS but we aren't cash buyers and the likliehood of it appraising for close to that price down there is probably about as high as me sprouting wings!! It just has no comps. And we have been looking for them! It is lovely though.

Anybody know what's up with that gravel pit that is near this property. As in directly across? Anybody in queen creek or San tan had issues with it being there?

Originally Posted by CheyDee

If you're willing to extend the 50 minutes to Sky Harbor to about an hour, MLS #4720959 (http://www.phoenixarizonarealestatehomes.com/idx/mls-4720959-2440_e_sherry_lane_san_tan_valley_az_85140 - broken link)is a gorgeous home on 13 acres, on a dirt road. (That's thirteen acres, not a typo.) It has a barn with stalls, a hay barn, polo court, tack room, separate ranch hand apartment, etc.

Edit: Here is the description from the MLS: Indescribably beautiful custom home on 13.13 acres of prime irrigated horse property. Home features a Great Room, Dining, Study & Kitchen, hardwood floors, coffered ceilings, kitchen has granite countertops & stainless appliances. Split master bedroom with tub & walk-in shower and 2 walk-in closets. Basement of the home has a game room & an exercise room with 1/2 bath. 841 sq.ft.Guest home has living, dining, kitchen, bedroom, bathroom & laundry. 14 stall barn w/2 foaling stalls w/closed circuit TV. Apartment in barn & 6 more covered stalls, regulation lighted Polo arena, roundpen, Polo hitting Cage, 8 Piperail Fenced Irrigated Pastures. 80kva Natural Gas Emergency Generator. Unbelievable luxury in waiting for lucky new owners! This one is an absolute must see!

[ReadyFreddy]

The house not appraising can be to your advantage. The sellers know most buyers don't have $1.4M in cash. So if you offer and it appraises for say $1M, there's a good chance the seller will lower their price. Once you get up in that price range, it's common to pad on several extra 100k and hope for the best. Then you sell it for what you can, even if it's half what you originally listed it at.

Even if you can't find comps yourself, you'd be surprised what appraisers can do. If there's nothing like it in STV, they'll look wider. There is no choice but to widen the net until they find comps. Some unique properties will have comps on opposite ends of the valley. Some very unique properties they must appraise without a sales comparison approach. I don't think this is that unique, though.

It looks like the gravel pit across the street is a quarry called Southwest Rock Products. Lots of quarries out here. I've never lived near one but if they use Sherry Lane for their trucks, it could be loud and extra dusty. It looks like they have a driveway further south, though, off Kenworthy. Just quarry business might be pretty dust-producing, too. I'm not sure.

[CheyDee]

Originally Posted by lisa627

That one is GORGEOUS but we aren't cash buyers and the likliehood of it appraising for close to that price down there is probably about as high as me sprouting wings!! It just has no comps. And we have been looking for them! It is lovely though.

Anybody know what's up with that gravel pit that is near this property. As in directly across? Anybody in queen creek or San tan had issues with it being there?

I've been down both Kenworthy and Schnepf Roads, as well as across Combs out there, but never on Sherry Lane; I never noticed anything in particular. Sorry I'm no help to you there. I know for certain there are some million dollar plus homes nearby in Queen Creek, (which aren't currently on the market). Perhaps a realtor could pull appropriate comps for you.

In the past there have been issues with fissures, particularly in Pinal County. I would seriously recommend investing the $1500 or so it would cost for a geological survey, before spending that kind of money on property.

[lisa627]

Thanks everyone! We do have a great agent here in Phoenix but I'm also a very long time agent who actually started in mortgage and title. So I know daggone well that underwriters are rejecting appraisals when the appraisers cast that net too wide. We have one offer in, if that seller isnt reasonable (even the listing agents admit they don't have comps -i swear they use dartboards to pick list prices)we will offer on choice number two and see what happens!!!

[ReadyFreddy]

It's not really "too wide" when that's where the nearest comps are, and that's what the appraiser/marketplace deem comparable. For properties like that, they usually do consider far off properties comparable. You're a good example. You're looking over a huge area, because you have to. Other buyers for properties like that also look over the entire metro area. (I might add that I wouldn't necessarily consider a horse property in Cave Creek or Scottsdale perfectly comparable to STV or CG but an appraiser would probably make adjustments for things like access, appeal of the location, etc. You use what you have and use your judgment on adjustments.)

I've never worked in underwriting. Can they throw out appraisals? I had heard not unless it fails review by a review appraiser, or something. An appraisal is an opinion of value, so it's hard to prove them wrong or in error. If they could cherry pick from a handful of appraisals, that'd be convenient. I thought they had to use their first one, or at most get a second one and consider them both as estimates.

Good luck on your offer! What part of the city is it?

[observer53]

I didn't realize you have driving horses... I get the need for the dirt roads then. With that 13 acre property, you could make some working area right on your own land, too.

[lisa627]

Some car wash is going to make a mint off of us! If we didn't have driving horses wpi would prefer paved! It's dusty here. Lol

Originally Posted by observer53

I didn't realize you have driving horses... I get the need for the dirt roads then. With that 13 acre property, you could make some working area right on your own land, too.

[lisa627]

No not exactly throw out - they just reject the loan! We had a two week sweat on the property we own now because it had the same issue! We almost didn't get the loan because of it. Underwriters have gotten really tough since the bust. A little too far in the opposite direction IMHO. And the oversight pressure on them is huge. Too bad we arent looking for a regular home!!! It would be a better commute for my hubby too!

Originally Posted by ReadyFreddy

It's not really "too wide" when that's where the nearest comps are, and that's what the appraiser/marketplace deem comparable. For properties like that, they usually do consider far off properties comparable. You're a good example. You're looking over a huge area, because you have to. Other buyers for properties like that also look over the entire metro area. (I might add that I wouldn't necessarily consider a horse property in Cave Creek or Scottsdale perfectly comparable to STV or CG but an appraiser would probably make adjustments for things like access, appeal of the location, etc. You use what you have and use your judgment on adjustments.)

I've never worked in underwriting. Can they throw out appraisals? I had heard not unless it fails review by a review appraiser, or something. An appraisal is an opinion of value, so it's hard to prove them wrong or in error. If they could cherry pick from a handful of appraisals, that'd be convenient. I thought they had to use their first one, or at most get a second one and consider them both as estimates.

Good luck on your offer! What part of the city is it?