State to auction vast parcel of land in real estate hot spot as questions swirl about its value and the bid process
by Robert Anglen | Arizona Republic
The land that will go up for auction is called Superstition Vistas. It’s located between Elliot and Ray roads and from Meridian east about 2 miles.
A state land auction near some of the hottest residential real estate in the country will open in the far southeast Valley this month with a low appraisal price and few bidders.
That is no accident.
The starting price on the 2,783 acres up for bid in a vast tract known as the Superstition Vistas is so low some developers are calling it a steal. But most will never get a chance to bid on it.
Restrictions imposed by the Arizona State Land Department ensure only a handful of developers nationwide are able to qualify and compete.
