Back in April of this year Doom asked "How do you run an HOA when there are only a couple of you in the neighborhood?" and posted this picture, taken by M for us in Stratland Estates, a development in Gilbert, AZ:
Stratland filed for bankruptcy in July, and the Arizona Republic reported that the neighborhood was being taken over tumbleweeds. A few days ago M went back- here’s the current picture:
If you want to view a home, you’ll need to bring your machete.
M said that it appeared that only two families remained in the neighborhood, although I counted 28 "real owners" out of 468 parcels in here. I thought it was interesting that the Assessor’s Office did not list any properties that were lender owned. Perhaps the bank doesn’t want to take these back. Would you?
EDIT 8:18 AM AZ time:
L sent me this foreclosure map for Stratland. It looks like the bank will end up with a lot of these homes, whether they want them or not. Here’s what L said:
There are only two NOTs for all of Stratland. The total is over $70,000,000 owed to the lenders- probably more if you add interest and fees. They are just showing two gavels, but one is for $40 million the other $30 million……………..!
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That is one nasty lookin’ map!
In Monopoly we learned to trade the little green houses for the big red hotel… not the little green houses for the black hammer of doom!
It’s a brand new game in Stratland.
Where are the bobcats?
Did anybody see that show on the science channel, “World Without People”? Nature overruns human developments with surprising speed. In Chernobyl there are already large trees growing in the middle of what was a street.
If a picture says a thousand words then this one sums up billions if not trillions of dollars lost not words. Just wow someone would really have to get a big discount to buy a home there.
I wonder if you can put a clause in your contract that absolves you from HOA dues (or locks you in at some lower rate until you move)? That’s the thing that scares me most about those areas. Heck, I’d thrive with no neighbors. Music at any hour you want, a real home theatre (think 4-8 high-end subs), and tons of dirt lot parking for those large parties
I visited Stratland’s model homes before the bubble burst. They are nice homes.
I’ve been back there recently too. I fought my way through the weeds to get a closer look at some of the homes.
This has to be the saddest neighborhood in the Gilbert area.
Stratland still has a website. You will not see weeds on that website. http://www.stratlandhomes.com
Curious, isn’t it? Tumbleweeds are otherwise known as ‘Russian thistle’… didn’t appear in the West until the late 1800s. Needs ‘disturbed soil’ to germinate. You don’t find tumbleweeds in untouched native desert.
Three years ago, I told everyone I knew in Phoenix, that they were about five years away from seeing uninhabited houses torn down, for farmland.
I think we’re right about on schedule.
L sent me the listings for Stratland homes. I was shocked to see sellers trying to get over $100 sq. for homes in here.
At bargain basement prices, people might be willing to fight with a brush mower and Roundup, but prices still aren’t there yet.
The vehicles are gone, too.
The life of a repo man is always intense!
Looks like my backyard.