High Dollar Home Sale In PV
Basketball star Penny Hardaway made this week’s list of the buyers and sellers of the Valley’s priciest homes (for the week): $5,300,000. New York Knicks guard Anfernee Hardaway, also known as Penny Hardaway, has sold his 20,400 square-foot Paradise Valley estate. A group called Mortgages Ltd. bought (stole at that price IMO) the home and its two guesthouses.
The residence has a two-lane bowling alley, his and her locker rooms, a lighted tennis/basketball court and a seven-car garage. Hardaway bought the property for $4.5 million in 1999 when the Phoenix Suns signed him. He was traded to the Knicks last year. Former Arizona Diamondbacks third baseman Matt Williams owned the palatial residence in Paradise Valley before Hardaway.
Paradise Valley was Arizona’s first town to surpass the $1,000,000 mark the for median price of a single family home. Though locals know you’ll only get a fix up or tear down home at that price. Look for the tear down frenzy to strengthen in Paradise Valley over the next ten years as more and more residents are seeing the value of being "in town" and on a large lot. Tear down permits doubled in 2004 from 2003’s numbers and I think it is because of the proximity to downtown-the airport-and all other major destinations in ‘The Valley’, the large lots, the lack of grocery stores-convenience stores-gas stations (which dramatically reduces the ‘drive-through’ traffic), and the beauty that is Paradise Valley, Arizona!
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