Our good friends Gary and Cindy sold their house in Carlsbad and moved to Scottsdale in 2020. The house they bought in Estancia at Troon North was a super-custom 6,580sf ‘elegant-rustic’ that was painstakingly-built over five years. Somehow, the visionary original owner wasn’t that good with finances and he got foreclosed. Our friends bought it for $1,759,000 from the bank on April 9, 2020 – just as covid was getting started.
Sensing an opportunity, they put the home on the market in July of this year for $4,725,000. They got a lowball offer right out of the gate for $3,000,000. But after plenty of showings, a spry 81-year old man paid $4,150,000, plus another $125,000 for the furniture, in the first month on the market. It closed on August 25th.
https://www.realtor.com/realestateandhomes-detail/27555-N-103rd-Way_Scottsdale_AZ_85262_M14974-04285
While this is good news for your friend, it is also a testimony to the lunacy of Fed policies and the damage they have done to the nation. Now everyone is paying the price through high inflation in all things. In an economy where the price of money would be determined by the free market, such things would have never happened. No wonder there is increased anxiety everywhere in our society when a bunch of unelected senile academics at the Fed can decide in a whim to triple the quantity of money diluting your labor and life savings at the stroke of a pen. Egregious indeed.
Best part of Phoenix right by Carefree / Cave Creek.
Awesome house + amazing location.
I can understand why someone would buy it as it where is with all the furniture / decor included.
We used to live in Cave Creek and we wholeheartedly agree, it’s the best part of Phoenix to live in!