Here’s a look at a new home community in the very popular Ocotillo area of south Chandler known as PORTELLO. Formerly Village at Dobson Crossing, PORTELLO has a total of 162 lots comprised of 87 1-story and 75 2-story homes, built between 2006-2010. This community was started by Randall Martin who then lost the remaining vacant 86 lots to a trustee sale which were purchased by Blanford Homes in April 2009 who then completed the project.
PORTELLO is located just south of Queen Creek road and west of Arizona avenue and is a lovely community located close to Intel, Hancock, Elementary School, Hamilton High School and several public golf courses including Bear Creek, Loan Tree Golf Club, Ironwood, Oakwood and Ocotillo Golf Course as well as all the restaurants and shopping that Chandler has to offer. A brand new Target is almost completed and is located a mile south of this community.
There is only 1 active listing in PORTELLO which is 2,929 square feet, a 4 bedroom, 2.5 bath and listed at $229,990 or $78 psf and a short sale. Properties of this same size in 2006 were closing at $142 psf or approximately $434,000. That’s 53% of the value from 2006!
There are 2 pending transactions at $237,900/$82 psf (2,910sf) and $259,900/$79 psf (3,273sf) both of which are lender owned properties.
There have only been 2 closings since January 1, 2011. One was an 1,800 square foot property which sold for $194,900, the other a 2,746 square foot property which sold for $229,900. These 2 closing fetched 97% and 100% of list price.
In case you hadn’t noticed, our inventory is shrinking and with interest rates still historically low, this is a great time to buy!
If you’re thinking of making a move whether buying or selling in the southeast valley, why not check out PORTELLO or the many communities that I have put together for your review at Stephanie Weiss Moves and then give me a call.
Stephanie Weiss, REALTOR® 480.273.7472 Stephanie Weiss Moves