Additional Renovation Work Planned & Pricing
Approximately half of the renovation work planned has been finished.
Over this summer (2006) the rest of this work should be completed, however there is still time for a prospective purchaser to make lots of choices regarding colors, textures, finishes etc. Work on the renovation of the kitchen and master bath in the main house, however will continue according to my plan, if the house does not sell quickly (the summer is the slow period in this area) so that the house can be ready for occupancy by the fall (October) of this year.
In addition to new cabinets and counter tops in the Master Bath, a new one person Jacuzzi tub will be installed which will serve to complement the huge California Redwood hot-tub in the back yard. Additionally, all of the original single pane aluminum windows will be replaced with new Low E-2 Thermo-Pane windows with the dark bronze Duronautic anodized finish. The 6 over-sized solid, non-opening 1/2 inch thick plate glass picture windows in the living room, as well as the one in the dining room and the two in the master bedroom, are also being replaced with new Low E-2 Thermo-Pane windows with opening sliders in the dark bronze Duronautic anodized finish, these large windows however, are being fabricated by a Store Front fabrication shop rather than a regular window maker for added strength and durability.
The property is being offered with all of the above referenced work finished to a high level of quality for $1,500,000 (roughly $190 per sq foot for the air-conditioned residential space and $100 per square foot for the big accessory garage). At the present time, (June 16th,2006) the house can be purchased as is for $1,375,000. The as is price will continue to increase as more work is completed. This pricing is pretty firm, and represents an enormous discount over the current price per square foot of comparable properties recently sold in this area. Please do not waste your time or mine if you do not recognize the fact this pricing is extremely reasonable even considering the recent slow down in this marketplace.
Should a prospective purchaser need more house than the current layout offers, another, more elaborate renovation plan has been prepared, in which most of the roof of the main house is removed, a second story with a sumptuous 1,600 square foot master suite is added, with the remaining roof area raised 2 feet. This plan, if built, will yield a main house of roughly 5,100 sq ft, with 3 bedrooms, 3 1/2 baths in addition of course to the 2,200 square foot (2 bedroom, 2 bath) guesthouse above the new (big) garage. A preliminary estimate of the cost of this (2 story 5,100 sq ft) renovation to the main house, indicates that the property, so renovated, could be delivered finished to the buyers specifications (choice of colors, finishes etc) for roughly $2,000,000. At that price, allowing the sum of $100 per square foot for the 4,200 sq ft garage, the purchaser would be getting a finished luxury residence of roughly 7,300 square feet at a price of $216 per square foot. Considering that the average asking price for luxury residences in this community is currently in excess of $340 per square foot, with some properties listed at over $1,000 per square foot, this property is quite a bargain at that price indeed.
Brokers with qualified clients are welcome, and a 3% commission will gladly be paid to the broker who finds the right buyer for this property. Brokers fishing for listings should not bother to waste their time or mine by calling.
I also own (free & clear) three fabulous commercial lots in the new section of the Deer Valley Airpark. As I am retiring from my real estate activities, I would be pleased to discuss a joint venture development deal on these 3 lots with the purchaser of this home if he or she is a qualified professional real estate developer or investor.
Thank you for your interest, & please feel free to contact me at any time with any questions you may have.
Contact Info: Al Trachtman, Tel: 480 488-4676 Cell: 480 390-8757 eMail: email@example.com