It fits the bill of any other mansion that’s usually in the eight-figure price range. The home is located on a 5-acre hillside property in Desert Mountain, north of major cross streets Loan Mountain and Cave Creek roads. It features six bedrooms, 10 bathrooms, 10 fireplaces, 12-car garage, 16-seat movie theater with its own popcorn/concession stand, 700-bottle wine cellar and, of course, an elevator.
For full article see: http://www.bizjournals.com/phoenix/blog/business/2013/10/go-inside-the-89-million-scottsdale.html?iana=ind_rre
Question: We purchased a home in Tempe from an investor who had purchased the home at foreclosure, and then fixed up the home. In the purchase contract, there was attached an “as is” addendum and also language stating that we waived the seller’s property disclosure statement. Almost immediately after we purchased the home, we discovered problems with the air-conditioning. When we were complaining to our next-door neighbors about the air-conditioning, the wife said that the investor told her that he did not have the money to properly fix the air-conditioning. If our home was sold to us as is, and we waived the seller’s property disclosure statement, could we still have a claim against the investor if the investor failed to disclose the known failure to fix the air-conditioning?
Fewer Americans signed contracts to buy U.S. homes in July, but the level stayed close to a 6 ½-year high. The modest decline suggests higher mortgage rates have yet to slow sales sharply. The National Association of Realtors says its seasonally adjusted index for pending home sales declined 1.3 percent to 109.5. That’s close to May’s reading of 111.3, the highest since December 2006
A financial adviser, an executive of a health-care management company, an orthopedic surgeon, the founder of an electronic equipment company, an oncologist and a geologist, are among the buyers and sellers in this week’s priciest home sales.
Not long ago you’d look like a fool for buying real estate in Phoenix. Today, you’d be entitled to feel like a genius if you purchased devalued property back when every fourth home was in foreclosure.
