Markwood, aka “Siena,” is one of the Most Attractive Communities in South Chandler
I have been involved in a few transactions in the Markwood or “Siena” community in Chandler. I simply believe the community is one of the most attractive in South Chandler and the homes in this community have represented some of the best deals through the market downturn in Chandler.
The community is located at Cooper Road and Queen Creek Road in South Chandler and was built around 2004-7 by Trend Homes Inc. Legally, this company is now defunct, though there is a T2 Homes that looks just like the previous company except that it is under new ownership. That’s a different story altogether. Original pricing for these homes started around the $400s and easily ran into the $700s for some homeowners.
An Awesome Product
Trend Homes Inc. put a lot of design touches and elegance in these homes. There were tons of options available with these homes from the type of wall texture to kitchen cabinetry to lofts and extra rooms, etc. The homes have both superior curb appeal with their Tuscan and Spanish style exteriors with extensive rockwork to the superior design elements inside the homes.
Some examples include heavy-duty gourmet style kitchens with huge islands and very large pantries, exquisite bathroom features, large bedrooms with tall ceilings up and down, smooth texture on the walls for added sophistication, fireplaces in some bedrooms, and other premium touches. Markwood, or Siena, has broad greenbelt areas and parks. This increases the visual appeal for the community in my opinion.
Homes range in size from 2,155 square feet for one of the single-level designs to a two-level home with over 4,000 square feet. However, most of the homes fall in between with a single level model at 2543 square feet, and two-level models ranging from 2,900 to 3,676 square feet.
All of this makes the Markwood community one of my favorite communities in the area. Because the architecture and floorplans are more unique, these homes aren’t for everyone. The prospective buyer pool is definitely more limited given their more unusual appeal and so I have found buyers either love them altogether or don’t care for them altogether.
Unfortunately, Timing is Everything
Because most homeowners in the community bought at the market high, to sell today means they either take a large hit to any and all equity they had in the property in order to sell, or they have to short sale or foreclose in order to sell. Values have dropped so far here that it is simply unlikely all but a few homeowners have significant equity in their homes if they purchased them in the late 2004 to early 2007 timeframe.
I recall helping a home buyer renegotiate their home during the downturn and they were set to pay $570,000. They ended up paying $500,000.
Opportunities for Buyers
For a short time, buyers have an opportunity to get a home that is a cut above most in the area in terms of quality and design for the money. Though the community is near the Chandler Airpark, homeowners have been very happy with their homes and the community of in Siena and I can certainly understand why. These homes are simply gorgeous and well complemented with upgrades and features.
Today, a similar home has sold for closer to $325,000. As you can imagine, for buyers who like some of the designs in the community, this has been a fantastic time to purchase homes.
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