Mountain Gate Fiasco in AZ

Real Estate Agent with Coldwell Banker First Affiliate

About 20 miles from Sedona there's a planned community in Clarkdale AZ named Mountain Gate.  It's a development done by Empire Homes done in several phases with about a dozen or more different floorplans.  A few years back it was the rage because they were building for a price unheard of in Sedona... and it was appealing to buyers looking for local property (without the red rock views or Sedona mailing address) for an affordable price.  Well, it all came tumbling down a week or two back when Empire declared bankruptcy.  It's in all the local papers and it's affecting lots of people that live there.  The homebuyers were promised a clubhouse, pool, workout facility... that will now never be built.  There's also the chances that unpaid subcontractors can put mechanic's liens on the houses.... this can happen up to 150 days after construction is finished.  All in all, it's an ugly finish to a preplanned community that's suffering due to the current state of the economy...

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