Short sale in Quail Hill

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<a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1155209">http://www.redfin.com/stingray/do/printable-listing?listing-id=1155209</a>





It's a "lender-approved" short sale -- the question is if it's approved at $1.17mil, or at the eventual price they'll need to sell this property. the property taxes are unpaid from 2006...





also, what is amazing to me is that the front-yard is still dirt, even though the house was built in 2003. it's pretty cheap to put down sod -- especially on postage-sized lots.








"Short Sale Approved by Lender - Premium Lot (end of cul-de-sac with view) 3BR/2.5BA + Den(easy to convert to 4th BD. Gourmet Kitchen, Viking Appliances + built-in Kitchen Aid refrigrator. Travertine flooring first level, specially packed insulation all walls and ceiling, surround sound, seperate whole house Heppa air filtering system, dual pane windows, large laundry room with Whirlpool Dry Cleaning Unit, custom doors, Master Suite with French Doors to balcony, security system, and more..."
 
asking price is $470 / sq ft...master bath has carpet, no landscape, all standard counter top, looks like no window treatment throughout the house. You need about $50 to $75K at a min. to complele the house, not to mentioned the work you have put into. Items like extra insulation, HPEA filer, and dry cleaning unit doesn't really add much value to the house. This brings the house to around $500 / sq ft. NOt a good deal short sell or not..
 
Can anyone provide prior sale/existing mortgage information on this property? Zillow says the 2006 tax assessed value is $961k. Assuming that was the purchase price, how did this become a short sale at $1.17 million?
 
<p>$470/sq. ft.? When other Quail Hill places both larger and smaller are asking less than that? For example</p>



27 Vermillion, 3 br, 3 ba, 1600 sq. ft. $540,900 $338 per sq. ft.



<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1224571">http://www.redfin.com/stingray/do/printable-listing?listing-id=1224571</a></p>

<p> </p>

<p>112 Tearose, 4 br, 4.5 ba, 3100 sq. ft $1,399,000 $451 per sq.ft.</p>

<p>http://www.redfin.com/stingray/do/printable-listing?listing-id=1009677</p>
 
<em>"Zillow says the 2006 tax assessed value is $961k. Assuming that was the purchase price, how did this become a short sale at $1.17 million?"</em>





I am guessing this is a HELOC implosion. I may profile this one for the main blog.
 
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