But, boy oh boy, does this lot have some problems which kill its value – it’s on Lincoln Dr, that’s a serious ding on value, it’s a little on the small side for Paradise Valley (0.81 acres) but most of all its got a wash running pretty much through the center of the lot which will make building a decent sized PV home on the lot a problem.
This lot was purchased in 2004 for $300,000. The bank foreclosed in September 2010 and put it on the market for $292,500. They made a few small price reductions and then in December they got serious and lowered the price almost $70,000 to $183,150. It went under contract in January 2011 and ended up selling for $180,000.
(Click on the photo to see a larger version.)