South of Desert Mountain Summary of Home Sales By Type

The communities South of Desert Mountain (South of Cave Creek Road) includes Mirabel with it's well known country club and golf course. Other communities include Cresta Norte, Montecito at Mirabel, Bel Canto, Sierra Norte, Treviso, and Monterey at Mirabel. In addition you will find Carefree Shadows, Carefree Rolling Hills, Sonoran Sanctuary, Carefree Hills, Rancho Santa Fe Del Oro, Vista Valle, and Boulder Heights.

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Summary of South of Desert Mountain Home Sales By Type

Here is a list of definitions often used to describe Type of Real Estate Sales.

Definitions

	Resale	This is the traditional method, with no third party involvement. The owner sells the property and pays off any debts secured by the property. Relocation, estate sale, and auctions, which made up a small percentage, are also included in this category.
	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.
	Lender Owned	Lender owned is just what it sounds like. Also called " REO" , which means real estate owned, or bank owned.