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7 Coronado Ct
Rancho Mirage, CA 92270
$10,950,000
Conventional
Property
Bedroom
5
Bathroom
8
Property Type
Conventional
Square ft
10019
Property Description
An architecturally-significant and incredibly stylish private compound that can't be found anywhere else. Welcome to 7 Coronado, one of Guy Dreier's most beloved desert properties. Perfectly positioned on 2 private acres and located within minutes to premier country clubs, restaurants and retailers. 7 Coronado's pairing of iconic architecture with country club-style amenities will fulfill every dream imaginable. Highlights include a resort-style pool with custom water and fire features, a championship tennis court with 200 person covered pavilion, bocce and sport courts to stir up some fun, and a large motor court that leads to a five car garage to show off your most current collection. If you've studied Guy Dreier, then you know the magic continues with tall ceilings, clerestory windows, custom finishes and walls of glass that work together throughout this 10,009 square foot masterpiece. The architectural intelligence of Guy Dreier is accented by the most beautiful blend of water and lush landscaping to create a best in class example of indoor/outdoor living. Formal entry sets the scene for greatness and leads to the large formal living and dining areas complete with tall ceilings, custom lighting, clerestory windows, walls of glass, and easy access to the resort-style backyard. Adjacent bar with cocktail seating is an added bonus to this exceptional entertaining area! The separate gourmet kitchen with a complete appliance suite including a Wolf steam oven and convection microwave also opens to the backyard as well as the media room that is ready to accommodate groups large and small. Don't forget the nearby wine room, either! The executive wing of the house features a Primary Ensuite complete with walls of glass, pool and mountain views, fireplace and two large spa-like baths each with generous walk-in closets and a shared washer and dryer. Adjacent private office offers views, too. On the other side of the house are Junior Ensuites Two, Three and Four each offering their own spa-like bath as well as sliding glass doors that open to the ultra-private backyard, one of three laundry rooms and access to the five car garage. Spoil family, friends, or your favorite tennis professional by hosting them in a premier self-contained Guest House. Built in 2016 - this may be one of the best Guest Houses in all of Coachella Valley! The full kitchen, formal living area, private bedroom, and separate fitness room all open to the large covered patio that looks out to the bocce ball, sport and tennis courts and over to the surrounding mountains. Two built-in BBQ's, separate catering kitchen and additional guest bath! Additional features include indoor/outdoor audio throughout the Main Residence and detached Guest House, a SMART home automation system, state of the art pool and spa equipment, and advanced security system with built-in cameras. Extensive solar package, too! Come make your dreams come true!
Property Information
Lot Size
2 acre(s) square ft
Property Type
Residential
Year Built
2008
MLS Number
24-347659
Location
Address
7 Coronado Ct
City
Rancho Mirage
State
CA
Zip Code
92270
County
RIVERSIDE (EAST)
Listing
Provider
Keller Williams Realty, original listing
Name
Keller Williams Realty
Phone
(760) 969-1002
Office Name
Keller Williams Luxury Homes
Office Phone
(760) 322-2286
Agent Name
Brady Sandahl

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.