April 5th, 2009 categories: Featured Properties, Sonoran Villas
Well, I can honestly say that we have now officially BLOWN THE COMPETITION out of the water with the most recent price reduction. Can you say $425,000 for a brand new luxury condo in the heart of Cave Creek, Arizona??? It is actually hard to even type as I never dreamed we would be able to offer these at this price!
However, our lender wants the project to move forward and getting these last two spec homes sold is a big step towards being able to have Phase II ready for next Winter!
In the last 3 weeks the real estate market has definitely experienced some momentum. Historically second quarter has always had the greatest activity in the Phoenix market, but I believe the lower interest rates and tax incentives for buyers has definitely pushed some buyers towards feeling like the time is now. Homes are even more affordable than prior to pre-boom pricing and it won’t stay there long.
With our recent price reduction there are only about 7 homes today on the market in the area that are greater than 2,000 square feet that are priced less than Sonoran Villas. They are all more than 10 years old and vary in condition. As far as new construction, nobody can touch Sonoran Villas. The next thing even close is Rancho Verde at $595,000.
We have already had numerous calls since the price reduction so I would encourage you to run and not walk to view these last two specs at this incredible price! Call Kim at 480-201-4185 if you would like to set up an appointment to view.
Written by Kim Anderson |
April 1st, 2009 categories: Featured Properties, Sonoran Villas
Sonoran Villas, a luxury condo community in Cave Creek, AZ just got better with the completion of their new community pool.
The pool is heated and features a large pool deck for you to soak up the Arizona sun. The views of Black Mountain from the pool deck are spectacular.
With the recent price reduction of our last two units to $464,000 – this is a bargain for your slice of Arizona luxury!
Compared to many other luxury condo communities our Homeowner’s Association dues are very low. Even with the recent addition of the pool, the monthly dues remain at $195 per month and includes free wi-fi Internet service, use of the pool, common area maintenance including private backyard landscaping and the blanket insurance policy that insures the exterior of all the buildings.
Stop by and visit Sonoran Villas and see how nice Arizona living can be!
Written by Kim Anderson |
March 16th, 2009 categories: Sonoran Villas
As you know it is a buyer’s market and right now at Sonoran Villas, we have the opportunity to offer two buyers a sensational opportunity. Unfortunately our buyer on Unit #109 fell out of escrow so now we have two completed units available and ready for immediate move-in. Bad news for Sonoran Villas. However, there is good news! Due to new financing terms arranged for Phase II & Phase III, we are able to deeply discount Unit #108 and Unit #109 so we can close-out and Phase I and then just take reservations for Phase II.
Currently #108 is listed at $519,000 and Unit #109 is listed at $509,000. We are simply taking OFFERS on these last two units. That’s right, name your price! Of course we have limitations, but we want these sold! Visit SonoranVillas.com to see floorplans and pics. Click here to view current pricing on two remaining units.
The pool is now complete and these two units are both very upgraded and include sensational views. Our location is second to none since you can walk to Frontier Village and all the shops, galleries and restaurants.
Call Kim at 480-201-4185 for more information! Hurry!!!!!
Written by Kim Anderson |
February 18th, 2009 categories: Real Estate News
I do not even want to begin to try to digest the President’s Stimulus plan that was passed, so I am starting with the portion that is near and dear to my heart, housing. President Obama is in Phoenix, AZ today to unveil his “Homeowner Affordability and Stability Plan”. Some details of the the plan are outlined on the White House Blog.
I have not read it word for word, but skimming it gives me a few insights.
The program is limited to loans that are held or securitized by Fannie Mae or Freddie Mac. The other interesting thing is that it is limited to loans where the 1st mortgage that is to be refinanced cannot exceed 105% of the current market value (including refinancing costs). While I am sure there are may that fall into that category, I feel that in many areas like Queen Creek, Buckeye or Surprise, it is not going to work for many. The reason is that many people bought in the 2004 – 2006 period where prices rose to their highest level. The market has over-corrected dramatically in those areas. Homes that appraised for $200,000 are selling for $90,000. Many of those people had 100% financing, so the mortgage amounts are going to exceed the 105% limit by a lot. From what I can tell, Obama plan will not help those loans. There is no plan for a principle reduction on the mortgage.
First, it will only be able available to primary homeowners. Investors or second home owners will not be able to take advantage of any type of loan modification.
Please read the details yourself as I truly “skimmed” but I was curious. I am not trying to be pessimistic, I am actually curious as to how many people this will help and if it keeps some of the homes from going to short sale or foreclosure, then I suppose it will help housing.
Mortgage lenders will begin accepting applications for this program after the program details are announced on March 4, 2009.
Written by Kim Anderson |
February 13th, 2009 categories: Desert Ridge
I remember when I was just out out of college and we discovered Pita Jungle in Tempe. We used to drive from Scottsdale to Tempe (back when there was no 101 freeway) to eat there. My best friend is Lebanese so I had grown very fond of hummus, baba ganoosh and spanokapita from her mother who is a great cook.
Well, since is opened in 1994, Pita Jungle has expanded to several locations across the valley and most recently it has opened at Desert Ridge. They have created a hip and upscale restaurant including a full bar with flat panel TV’s. There is a large dining room inside as well as a large outdoor patio.
Pita Jungle at Desert ridge is located at 20910 N. Tatum Blvd, Suite 140, Phoenix, AZ 85050. Visit the website for other locations, menu, wines and catering menu….yes they cater too!
See you there!
Written by Kim Anderson |
February 7th, 2009 categories: Desert Ridge
Luxury Condos in Desert Ridge
Within the last 30 days Toll Brothers has started construction again on another building in The Villages at Aviano. The Villages at Aviano are luxury condos in the heart of Desert Ridge.
These luxury condos have their own private pool and BBQ area, but also get to take advantage of all the amenities of Aviano at Desert Ridge, including the large clubhouse with fitness center, meeting rooms and gathering areas. There are also numerous parks, walking paths, tennis courts, basketball courts and a huge family pool, lap pool & jacuzzi.
Toll brothers had halted contruction on new buildings for a while in an attempt to sell their existing inventory. While they did not sell all of it, they made the decision to move forward with construction. Currently they have 6 of the 14 units sold in the new building. The units are currently at frame stage.
Tremendous deals can be found in the resale market and the inventory homes that Toll Brothers still has. Today, there are 19 active listings ranging from $230,000 – $525,000. There are a handful of bank owned and short sale properties for sale as well – presenting a tremendous opportunity to grab one of these condos below market.
As a market specialist for Villages at Aviano I can tell you that it takes some market knowledge to properly sell these units. When scouring through the active listings today I found numerous errors in the data. Tax record square footage rarely matches the actual marketed square footage by the builder. Most listing agents don’t put the model in the listing which makes it difficult to compare sales – you have to know the building layouts. There are 9 floorplans total, so it takes some time to learn them all.
I have to admit I am biased about the Villages at Aviano. I personally live here and love it. The “lock and go” units fit my lifestyle. With all the amenties at my fingertips, I feel like I live in a resort every day.
If you would like more information about new construction incentives and/or resale available, call me at 480-201-4185. I can help provide market data that will show you the best opportunities to own in this amazing condo community in Desert Ridge!
Written by Kim Anderson |
January 26th, 2009 categories: Desert Ridge
Now that several of the major home builders have backed out of their purchases on land in Desert Ridge, it seems as though the existing builders have a chance to become more profitable in 2009 and perhaps we can see an overall recovery to the residential sales in the Desert Ridge real estate market.
The fact that several these purchases are now defaulted is not great news as many of the projects included area infrastructure improvements as well, like parks, roads, etc. It is also not great to see all the desert cleared to the East of CityNorth and now to see that project halted in its current state. It remains to be seen what the City of Phoenix will do with those incomplete projects and the land.
The bright side though is that existing home builders like Del Webb at Fireside, DR Horton at Cielo and Toll Brothers at Villages at Aviano are all reporting an increase in traffic. Toll Brothers just started construction on a new building after months of holding off on new to decrease existing inventory. Also consider that Del Webb opened Fireside at Desert Ridge in February of 2007 and is almost 50% sold…all that being accomplished in a huge real estate down turn.
Current new home prices are averaging around $148 per square foot up to $700 sq foot. Most single family homes are closer to $160 – $175 per square foot. Also note that in Aviano at Desert Ridge, the average cost per square foot for all resales that sold in 2008 was $171 per square foot.
There is no question that real estate prices have dropped dramatically in the Desert Ridge area, but considering that many areas of the valley are struggling to get $100 per square foot, Desert Ridge is holding its own. One has to believe that the centralized location, area amenities and proximity to major employers like the Scottsdale Airprark, American Express and several large resorts is a big reason.
The point of this post is to note that we are seeing new home inventory reducing and hopefully price stabilization will soon follow. We are not out of the woods with area short sales or foreclosures and for that reason we are going to see incredible bargains to still be available. There are currently several home bargains in Aviano that are $127 – $135 per square foot. However, my long term forecast for the area is positive as I analyze this market compared to many other areas in the valley.
Written by Kim Anderson |
January 10th, 2009 categories: Desert Ridge
Fireside at Desert Ridge is another thriving master planned community in the Desert Ridge area. Different from Del Webb’s very popular active adult community throughout the valley, Fireside is an all ages community. Del Webb boasts Fireside as an “urban-surburban” lifestyle. The seclusion and serenity of the natural desert, but minutes from some of the best shopping and restaraunts in the Phoenix metro area.
Fireside at Desert Ridge supports an active lifestyle anchored by the community center. Here you will fine both a lap pool and resort-style pool, plus a children’s splash area, an incredible fitness center and movement studio, yoga garden and treatment rooms for spa services. The community hosts frequent events and social gatherings that are extremely popular with the residents.
Fireside offers several floorplans and products to appeal to all demographics. Featured are traditional single-family homes, affordable detached cottages and two-story townhomes that are maintence-free. The single family product ranges from 2,441 square feet all the way up to an estate level home at 4,306 square feet. Many have court yard and casita options.
Email me if you would like to join my Fireside at Desert Ridge “hot list”. I am frequently in contact with my community representative to give me the scoop on the best deals and quick move-in specials. I can also help you compare new home in Fireside with resale home in Aviano at Desert Ridge….Fireside’s proud neighbor.
Written by Kim Anderson |
January 3rd, 2009 categories: Real Estate News
Okay, I realize I am a few days late to send this wish, however I have been BUSY! That is a great sign! Since New Years Day I have had 3 showings on one property, multiple showings on my other listings, an accepted contract on one house and two short sale approvals! Not too shabby.
I am not saying this to brag, I am truly most happy for those most affected, my SELLERS! During the dog days of November and December I kept stating that I felt first quarter of 2009 would bring “change” to the real estate market. I am not saying everything will be smelling like roses in right away, but I do think we will be approaching a bona fide “bottom” and I believe there are a slew of buyers waiting to purchase – and why wouldn’t there be!
Lets recap, mortgage rates are at 5 year lows, homes price are affordable and there is something for everyone out there. If you hear that the banks are not lending, don’t listen. There are plenty of good programs out there, you just have to know what to look for – and they don’t all require 20% down like I keep hearing buyers say.
Lastly, if you buy before June 30th, 2009, and you have not owned a home in the last 3 years, you are going to receive a $7500 TAX CREDIT! That is not a write-off, that is a tax credit. All the details of this can be founding by clicking here.
So, I am pleasantly surprised by what 2009 has brought so far. I know we have a have long road ahead, but it is a start!
Written by Kim Anderson |
December 14th, 2008 categories: Desert Ridge, Stats and Facts
I really enjoy breaking down statistics and trying to truly analyze the data so I can help buyers make smart buying decisions and help sellers move their properties. Here is some real estate data for Aviano at Desert Ridge. This is for the single family homes only.
Currently there are 47 active listings in Aviano at Desert Ridge. Here is how those 47 active break down:
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26 Listings are Normal Sellers
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Average price per sq. foot is $208.92
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Average Days on Market is 137 with a high of 420
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4 Listings are Bank Owned Properties
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Average price per sq. foot is $146.65
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Average Days on Market is 84 with a high of199
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17 Listings are Short Sales
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Average price per sq. foot is $157.10
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Average Days on Market is 175 with a high of 668
From this information it is clear that the bank owned properties are setting the price trend. Of course it is important to note that many of those bank owned properties could have been distressed, but it is still driving the pricing.
Since November 1st, 2008 there have been 5 sales. Of those 5 sales, 3 were short sales, 1 was a bank owned property and 1 was a normal seller. Here are the 5 sales since 11/1/08: (click to enlarge)
From this image, you can see that short sales do close – if buyer can be patient. The normal seller was actually the best deal as far as cost per square foot at $136.00 per square foot. As you can see a motivated seller can come in all forms!
If you can have questions about any of these properties that closed or want information about any active listings, give me a call at 480-201-4185 or click here to contact me.
~Kim
Ready To Sell You Your Slice Of The Arizona Sunshine!
Written by Kim Anderson |
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