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Hefty Premium For New-Century Modern

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Location: Phoenix, Ariz.
Price: $649,000
The Skinny: In 2006, on a double lot in Phoenix's North Mountain neighborhood, the design firm blankStudio built this two-bed, two-bath spec house. The firm promptly won a heap of awards and the sort of fluffy rhetoric usually reserved for a press release. With confidence buoyed by all the good press, the architect-owner listed the 1,600-square-foot home for sale this month for $649K, more than twice the neighborhood average. Some websites have it listed even higher, say, at $900K. While the quality finishes and lauded architecture deserve a premium, it seems the current owner and his broker have forgotten the first three rules of real estate: Location, Location, Location. Then again, if the new owner can weather the neighbors' resentment, this could be quite a deal on a Dwell-style dwelling.
· 1441 E Sunnyside Drive [Phoenix R.E. Guy]
· Xeros Residence [Sell Modern]