Special offer

Scottsdale, AZ Real Estate News

Ok, ok, .... Maybe good news is pushing it a little. And I don't at all want to sound happy or overjoyed as home values, and people's net worth slightly deteriorate.. However, after everyone catches their breath from this news and looks a little deeper past this fright filled front page headline in which a report showed an average home price drop accross the board for towns like Phoenix, Scottsdale, Fountain Hills, Gilbert, Mesa and Tempe (not Paradise Valley). it may a little more easily digested as a case of "Glass Half-Full" versus "Half Empty".... Here's one man's humble of Why!!   1) It's a Buyer's market 2) Lenders easing credit 3) Lower interest rates 4) Reduction in inventory 5) Consumer confidence (the rest of article continued)   -----------------------------------------------...
Comments 4
By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
Below is a quick review of the Luxury Condo Market in the Greater Phoenix area in May. Before I get started, how am I defining the Luxury Condo Market? I am looking at condos that are listed for sale for $1 million and up. Currently, there are three locations that have condos for sale of this caliber -Scottsdale, Phoenix and Tempe. The Scottsdale luxury condos are mainly located in the Old Town/Waterfront area as well as Kierland. The Phoenix luxury condos are found primarily in the Biltmore corridor and the Tempe luxury condos are found in the Tempe Town Lake are that is being heavily developed. Currently, there are 103 condos on the market with an asking price of $1 million or more. About half of these, 50, are in Scottsdale, 39 are in Phoenix and the remainder, 14, are in Tempe. In M...
Comments 0
  The quest for the ‘ Triple Crown ‘ is over. Big Brown comes in last in Belmont and it's bid for history. whether your a horse racing fan or not, almost everyone likes the pomp and circumstance, the fan fare surrounding the Kentucky Derby, Preakness and today's Belmont stakes. Horses with names like, Secretariat, Seattle Slew, and Barbaro are in the media and horses are stars in pop culture. And even if you are not a gambler, almost everyone has a favorite 3-year old. As you know, I relate everything to real estate (others feel like this about Golf) and there is something to learn from the Kentucky Derby and Belmont stakes. The horse race is a sprint. Betting on a sprint is a gamble; anything can happen. However, real estate is not a sprint. Home buying never has been a race; if it is ...
Comments 4
  fellow fighters of the good fight.... just wanted to share my loud and gross objection to today's news; This is no way to go into a weekend. stock market down 400 points -  now stockbrokers now how we feel Oil at record highs $139/barrel  - time to buy a Vespa we may have to 'Lose weight before you fly or pay more for your ticket!! - largest jump in unemployment hits 22 year high But hey, let's look on the brightside, at least there was nothing negative about Real Estate ! did some someone say "Thank God its Friday" !! and at least we have wonderful weather here in Phoenix, Scottsdale, Tempe, Fountain Hills, Peoria, Glendale, Paradise Valley, and the golf communities of Desert Ridge, DC Ranch, Troon, Grayhawk I wish everyone a great weekend - James Wexler www.Wexzilla.com by the way, ...
Comments 8
You have all heard the investment phrase, ‘Buy Low Sell High'. seems simple enough.... However, how do you help buyers actually do just that? Let me share a story which might help shed some light on this investing " Holy Grail " "Finance 101 says that, "the best time to buy is when opportunities are created out of seller necessity. A couple I have worked with for some time, just bought a home straight out of a Builders Inventory (these days, builders have taken homes back from a buyer who could not qualify for a loan.) The original price on this home was more than $700K. They bought this brand large beautiful new home in a wonderful community for $400K. Now, this couple has bought low. Have they purchase at the lowest? My crystal ball has not worked as well as I would like. However, bas...
Comments 6
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
When looking to buy or sell real estate, it is important to know how the asking price (list price) compares to the sale price. Here is the information in Southern Scottsdale for May: Average List Price: $274,963 Average Sale Price: $257,147 The average home in Southern Scottsdale sold for 6.5% less than the asking price. As a buyer, this information helps give you somewhere to go if you don't want to offer the asking price. As a seller, this allows you to see what amount you can list your home for, and still have some negotiation room with potential buyers.
Comments 0
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
It looks like there will be some slow traffic on the 101 this Saturday. The freeway will be closed from 7am to 4pm at around McDowell. Here is more info: AZCentral Article
Comments 0
Drinking coffee, this morning, which I am know to do, in large quantities, and (in exactly this order) waking up which arduously follows, I sit each morning, and flip between the multitude of news channels, and mainline the information from CNBC, CNN, Fox News, ESPN (for AZ sports fans, this is never good news) and start each day and the local news networks, force feeding me the information I thought I ‘need' to be prepared for a day out in the real world. Most mornings bright and early, it's just me and my loyal (I say this because he always agrees with me) Jack Russell Terrier, Riley, listening to the well dressed and perfectly coiffed news anchor's report on the state of affairs, social , political and otherwise. However, this morning, when I trudged to kitchen for coffee and sat in ...
Comments 4
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
Anyone looking to buy or sell a home in Southern Scottsdale would probably like to know what they are selling for. The following is the average sale price for a single family / detached home in Southern Scottsdale in May 2008: Square Footage: 1677Bedrooms: 3Bathrooms: 2Sale Price: $285,119 And here is the average sale price for a condo / townhome in Southern Scottsdale in May 2008: Square Footage: 1168Bedrooms: 2Bathrooms: 1.75Sale Price: $216,640 Of course, every home is different, which is why it is so important to have a local real estate agent who knows the market well. Let me know if you have any questions about the current real estate market.
Comments 0
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
Here is a chart showing the average home price in Southern Scottsdale over the last year:   In May '07 the average price was $303,242, while in May '08 the average price was $252,754. That is a drop in value of about 17% over the last year. I believe it is pretty safe to say, at that rate, the Southern Scottsdale real estate market will have recovered by this time next year. Assuming the market continues this current trend, the value of a home will have dropped another 17% to about $210,000. Do I believe housing values will drop that far? I am not sure. I can tell you that the current trend has shown a drastic drop in values, and if continued, we will hit the magic number of $210,000. What makes $210,000 so special: $210,000 is a conservative number, and the Southern Scottsdale real est...
Comments 0
By Michael and Cheron Lange, Associate Broker, GRI
(Solutions Real Estate)
Downtown Scottsdale made the New York Times list of 31 Places to go this Summer.At #9 despite the summer being the valley's off-season, this will provide a boost to the state's tourism industry.      The Times states:  "Downtown Scottsdale is turning into a desert version of Miami's South Beach.  No ocean of course, but plenty of late-night partying and a buzzing hotel scene."Also making the list at #12 - Monument Valley  and # 22 Lake Powell.Also Phoenix Magazine has a great article of Summer getaways - Chill out by 20 of the state's most spectacular summer waterfalls.  I bought the magazine and wow, they weren't kidding what spectacular pictures.  Our family has a summer home in Payson and we plan on visiting a few of the waterfalls that are on the list.Arizona is a great place to vis...
Comments 2
as we all know, ...When it comes to buying real estate, Patience, prudence, insight, educated decision making and a little luck can present you with promising opportunities. However, financial professionals, will often tell you that “Risk evaluation" is probably the most important criteria one must consider before making the decision to buy. Risk/Reward can be defined as the amount of risk one must take to provide a similar amount of return on investment. Generally, the higher the risk, the higher reward. Here are 3 thoughts I recommend for all buyers to consider when evaluating risk before deciding whether or not your next Deal really is good as it looks. 1) Comfort level – too much stress, fear , and unhappiness, are lingering effects of taking a risk larger than you may want to handl...
Comments 0
Safari Drive has it's first residents!  I love the architecture and the location is great as well.  Downtown Scottsdale Lofts & Urban Living is proud to give the thumbs up on this project.   The multiple living options gives safari drive an advantage...Great job!    Safari Drive-480-227-3311    Safari Drive Scottsdale Life As You Make ItSafari Drive is a new 7 city-block mixed use development located in downtown Scottsdale at the marquee intersection of Scottsdale and Camelback Roads. Once the home to the legendary Safari Hotel and Resort, the 14 acre site has been transformed into an urban downtown neighborhood boasting residential, hotel, retail, and office uses. The main street through the neighborhood "Safari Drive" is where you will find some of the finest boutique shopping in the ...
Comments 0
By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
Property Type:   Residential       Status:   Active SubjectProperty                 # ML# Status Address Built Fe Code SqFt List Price LP/ SF ADOM CDOM 1  2986087  act  E VIA DE BELLEZA -- Scottsdale  1974  42RDXP2G  2011  $336,000  $167  32  27  2  2889565  act  E Via de Belleza RD Scottsdale  1979  42FRDXPS2G  2331  $349,900  $150  187  189  3  2977228  act  N Via De Paesia ST Scottsdale  1975  42FRDX2GS  2152  $399,900  $186  41  41  4  3000850  act  N Via De Amigos -- Scottsdale  1974  32RDXP2G  2011  $415,000  $206  47  296  5  2953545  act  N VIA DEL PARAISO -- Scottsdale  1978  32FRDXP2G  1857  $419,900  $226  80  80  6  2858695  act  N Via Del Paraiso -- Scottsdale  1977  32RDXP2G  1642  $424,900  $259  241  241  7  2972121  act  N VIA DE LA LUNA -- Scottsdale  1982  32.5RDXO2G...
Comments 1
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
Here is a chart of the number of home sales in Southern Scottsdale each month over the last eight years:  As you can see, there is an interesting trend as home sales go down at the end of each year. This is very common in the industry, as demand for real estate goes down during the holiday season. Our current situation is showing much lower numbers than usual for this time of year. From 2000 to 2002 you can see that sales were at about 175 during the spring/summer months, while we are currently only at 100. The good news is: we are seeing a hold on sale volume from April 2008, which could be indicating the beginning of the end of price drops. Homes are beginning to sell at a consistent value, and people are starting to feel more confident in purchasing.  Here is what I hope to see over ...
Comments 0
By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
I looked at the May 2008 figures via the Arizona Regional MLS yesterday and the single-family home resale market in Scottsdale continues to improve. For the last few months, pending sales and actual sales have been increasing month-over-month and as of June 1, the number of active listings had dropped to just over 4,000 homes, the lowest figure we have seen this year. There were 300 sales in this category, the highest amount I have seen since I started tracking the figures in September of 2007. And, based on pending sales at the end of May, June looks to be another great month.  For more information on the May 2008 numbers, including a chart showing Scottsdale's month-over-month performance, please visit my Scottsdale Lifestyle and Real Estate News blog.  
Comments 1
By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
Property Type:   Residential       Status:   Active SubjectProperty                 # ML# Status Address Built Fe Code SqFt List Price LP/ SF ADOM CDOM 1  2871435  act  E San Alfredo DR Scottsdale  1979  32FRDX2G  1712  $315,000  $184  218  218  2  2983487  act  E SAN ALFREDO DR Scottsdale  1978  32FRX2G  1712  $369,000  $216  30  30  3  2979689  act  N 85TH ST Scottsdale  1979  32FR2G  1930  $379,900  $197  37  37  4  2983659  act  E SAN SALVADOR DR Scottsdale  1979  32FBDXP2G  1865  $399,900  $214  30  30  5  2998939  act  E NASEEM TRL Scottsdale  1979  32FRXP2G  2210  $419,000  $190  4  4  6  2993291  act  E APPALOOSA TRL Scottsdale  1993  32FRDXT2G  1800  $425,000  $236  13  164  7  2901281  act  E SAN BRUNO DR Scottsdale  1978  32RDXP2G  2042  $429,000  $210  163  163  8  2863180 ...
Comments 7
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
Looks like one of six Frank Lloyd Wright designed homes in the Valley should be going on the market in the next few weeks. Here is the article at azcentral.com. It will be very interesting to see what price it goes for...
Comments 0
By Sal Giorlando
(VALLEYWIDE RESIDENTIAL)
Well, the month is not over yet, but I figured I would run the numbers anyway. Currently, May is showing 100 properties sold in Southern Scottsdale. Compare that to April which had a total of 103 for the month. Taking into account that not all sales are in for the month of May, its looking like we will have a small uptick in sales from last month. The prices have not really changed much. So far in May, the average sale price is $250,339 and the average square footage is 1,436. That's $174 a square foot. April's numbers were $265,514 at 1,543 square feet which comes out to $172 a square foot. I would say prices are pretty much stagnant between the two months. Overall, things are looking good. Given how much the values have been dropping this year, it is good to see that prices seem to ha...
Comments 0
By John Karadsheh, ABR, CRS - REALTOR - Mesa, Arizona - Las Sendas
(KOR Properties)
John Karadsheh, ABR, CRS | Russ Lyon Realty Company | 602-615-0843 14625 North 62nd Way, Scottsdale, AZ Model Perfect Scottdale Home! 5BR/3.5BA Single Family House offered at $725,000 Year Built 1992 Sq Footage 3,724 Bedrooms 5 Bathrooms 3 full, 1 partial Floors 2 Parking 2 Car garage Lot Size 8,094 sqft HOA/Maint $0 per month DESCRIPTION ABSOLUTELY STUNNING HOME IN THE HEART OF SCOTTSDALE! THIS HOME FEATURES 5 BEDROOMS AND A HUGE OFFICE & 3 1/2 BATHROOMS. AS YOU WALK THROUGH THE ELEGANT FOYER YOU ARE GREATED BY A BEAUTIFUL FORMAL LIVING ROOM AND DINING ROOM WITH VIEWS OF THE RESORT LIKE BACKYARD. THE CHEF'S KITCHEN FEATURES GRANITE COUNTERS, STAINLESS APPLIANCES & A BIG BREAKFAST ROOM. THE LARGE MASTER SUITE BOASTS VAULTED CEILINGS & A BIG MASTER BATHROOM W/DOUBLE SINKS, SEPERATE TUB ...
Comments 3
Explore Scottsdale, AZ
Scottsdale, AZ Real Estate Professionals