McDowell Mountain Ranch Home Sales Report by Jeff Cameron Scottsdale Realtor

McDowell Mountain Ranch Home Sales Report by Jeff Cameron Scottsdale Realtor

McDowell Mountain Ranch Real Estate Market Report for November 2010
Let’s get to the numbers. Currently in MMR, McDowell Mountain Ranch, there are:

Active listings 88 down from last months 92
Pending home sales of 51 up from 50
Closings 21 up from 13 and back on track

The average price per sf in MMR was $171.69 for November, down 4.2% from last months surge but still down from January’s $192 per sf. Down 10.8% YTD.
The good news is home closings are back on track. The high for the year was 28 and low was 9 in September.
We just closed on a home in Sienna Canyon. It was delayed for nearly 2 months due to appraisal issues. The home needed repairs and updating, but come on. There were justifiable comps. This appraiser was able to do as he pleased with no recourse due to HVCC. Finally, another home closed justifying value and they increased their appraisal so we could close. What a nightmare!
In MMR we are still seeing home that are nicely upgraded, with beautiful yards or views sell for dramatically different values than the distressed properties.

If you have any questions about the real estate market, short sales and bank owned property. Call me JeffrCameron at Keller Williams 480-502-7699