Montecito at McDowell Mountain Homes For Sale

Montecito at McDowell Mountain, by Greystone Homes, consists of 83 single family homes. It is conveniently located in the northwest corner of the ranch close to the new McDowell Mountain Marketplace. Properties range in size from 2,217 to 3,642 square feet.

Montecito at McDowell Mountain Homes For Sale

400,000

4 bed/2.5 bath

2,770 (Tax) sf

Active \Contingent

MLS 4697094
Lot 15

Montecito at McDowell Mountain - Lot 15
4 Bedrooms [Master Split w\Walk-in Closet] / Den / 2.5 Baths
Pool/Heated Community Pool & Spa
Borders Common Area

3 Car Garage
No Interior Steps
Built : 1998

Offered by Arizona Best Real Estate

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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.