Find Your North Scottsdale Home - Get "Lucky" In Real Estate - Lisa and Matt Lucky
Edge at Grayhawk Homes For Sale
Edge at Grayhawk - Previously known as the Lofts at Grayhawk, Avenue Communities has converted these luxury apartments into luxury condominiums. Total of 447 units. Floorplans are one and 2 bedroom lofts. Currently ownership includes use of the Venu clubhouse. It has a community great room with fireplace, a home theather, an electronic games room for youngsters, and a kitchen area. Owners can join a club for boating activities at Bartlett Lake.
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Updated Thu Mar 11, 2010 7:40 AM.
Indicates a property listed by a real estate brokerage other than Russ Lyon Sotheby's International Realty. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Here is a list of definitions often used to describe Distressed Properties.
Definitions
Short Sale
The "short" in short sale actually refers to the fact that the payoff amount agreed to in the transaction is "shorter" than the mortgage balance on the property. Simply put, there is more owed on the home than it will sell for.
Pre-Foreclosure
The owner is attempting to sell the property during the pre-foreclosure period, before the foreclosure can be completed. The term pre-foreclosure or preforeclosure is that period between when the lender files a foreclosure notice of default in the public records (Lis Pendens) and the date the property is to be sold at public auction or trustee's sale. Often lenders are taking back properties instead of holding the public auction or trustee's sale.
Lender Owned
Lender owned is just what it sounds like. Also called REO, which means real estate owned, or bank owned.
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Russ Lyon - Since 1947 - Our name is synonymous with fine properties. Lisa & Matt Lucky - Enjoying the North Scottsdale Lifestyle since 1997. North Scottsdale Relocation Specialist.