There are currently 57 active listings for condos in the Desert Ridge area.  The available condos range from $159,900 for a 1 bedroom and 1 bath condo is Toscana at Desert Ridge to a $455,000 condo, also in Toscana.

Of the 57 units, 11 are short sales – a few of them approved at list price which means a quicker close is possible.  4 listings are bank owned and the rest are traditional sellers or are new constructions and listed by the builders.

In the last 60 days there have been 22 properties sold through the MLS.  (I note that as the sold figures may not include builder sales if they were not listed in the MLS).  There are an additional 15 units pending at this time.

All of these condo communities offer luxury living with pools, fitness centers and community areas.  All are close to world class shopping and some are even in walking distance – Bella Monte and Toscana.

Call me or drop me a line if you would like a list of these hot condo properties in Desert Ridge. Stay tuned for my upcoming posts highlighting each community.

~Kim

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!

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.

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.

Currently there are 47 active listings in Aviano at Desert Ridge.  Here is how those 47 active break down:

• 26 Listings are Normal Sellers
• Average price per sq. foot is $208.92
• Average Days on Market is 137 with a high of 420

• 4 Listings are Bank Owned Properties
  
• Average price per sq. foot is $146.65
• Average Days on Market is 84 with a high of199

• 17 Listings are Short Sales
• Average price per sq. foot is $157.10
• 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!

CityNorth is designed to unite the best in city living, shopping, dining and working.  The Blockparty is from 5-9pm tonight, November 13th.  Subsequent events will be held through the weekend.  You can go to the City North Block Party website for more details.

Join the party to tonight with live bands, food & drink, street performs, mariachi’s, clowns, sales & special offers, raffle prizes and a special Circle of Life exhibit presented by Disney’s The Lion King and The Phoenix Zoo.

Hope to see you at the party!

~Kim

Ready To Sell You Your Slice of the Arizona Sunshine!

The Strada on Crest Lane is a short sale and is down to $475k. This is only a 2 car garage but does have a nicely landscaped backyard and spool. I believe the listings agents are close to an approval on this. Probably a decent short sale to write an offer on as I don’t think it would take as long as some short sales.

The Velez on 39th Way is very “vanilla” and it backs to 40th st. However, the price is right at $135 per square foot.  Good opportunity if you want to live in Aviano.

The Borrega on Herrera is a nice home and has just been reduced by $10k.  This home backs to an interior rd, Lockwood, but that is not too big of a deal.  This home has some nice flooring upgrades and landscaped backyard with built-in BBQ.

The LaBella on Crest lane came back on the market at $525,000. This is a nice home and a good opportunity for someone with the patience for the short sale.

The San Benito on Crest lane is a nice home, but only 3 bedrooms, but does have a den. This home was on the market a year ago at $724,900.  It came back on the market in April at $579,000 and is now reduced to $539,000.  It does back to Rough Rider Rd. which is one of the main arteries through Aviano.  It is next door to the larger Strada at $475,000.  While that is a short sale, it is probably not helping the value of this home. This home is probably worth a good look if you like the plan.

For more information on any of these listings, drop me an email or feel free to call me at 480-201-4185.

-Kim

Ready to sell you your slice of the Arizona Sunshine!

Below is a chart showing the 5 lowest price per square foot homes in Aviano.  You can click on the image for a larger view.

I have outlined which of these are bank owned, short sales and there is even a regular seller in there.  What does that mean?  Well, the bank owned are ready to move and if you write an offer you will probably hear back in 3 days or so. I would be able to help you decide where I think the bank may accept at.  The short sales can take up 2-3 months to respond.  If you have nothing but time, these can be great deals.  I can find out where the agent is in the short sale process and can also project at where the bank may approve at.  The real seller – well that is a seller who is motivated and has positioned their property to move.  If you need a 30 day close, there is probably a good chance this can happen here.

The Mirador on Expedition is a huge house, but it backs to Pinnacle Peak Road and it needs a little TLC. It is not horrible but you better LOVE slate and bring a paint brush. The back yard has a good start, but needs a little help with the lack of maintenance.

The Terraza on 37th place is a nice home and has been reduced again to $685k. This home has been modified so there are two master suites, one up and one down. The other bedrooms upstairs have been combined to make 2 large secondary bedrooms, each with there own bath. The problem is they took the 3rd bay of the garage to make the master suite downstairs.  Many people at this size and price point are looking for 3 car garage. However, if this modified floorplan appeals to your lifestyle, there can be a great opportunity.

The Velez on 39th Way is very “vanilla” and it backs to 40th st. However, the price is right at $135 per square foot.

After starting out at $1,105,000 and 569 days on market, the owners of this Marisol on 36th Way appear ready to sell.  This home sits on an oversized lot and backs to a wash.  On 10/21 this was reduced from $699,00 to $619,000, where it sits now. Given the good condition of this home, I predict this to move quickly.

Lastly the Strada on Crest Lane is a short sale and is down to $475k. This is only a 2 car garage but does have a nicely landscaped backyard and spool. I believe the listings agents are close to an approval on this.

So, if you are bargain hunting – these are a good start. If you have a model in mind or certain criteria that you are looking for, give me a call at 480-201-4185 or send me an email and I will be able to send you info. I can also email you these 5 listings if you would like more info.

Stay tuned tomorrow – the 5 lowest priced homes in Aviano!

-Kim

Ready to sell you your slice of the Arizona Sunshine!

]]> http://thesunshinebroker.com/2008/10/26/the-5-lowest-price-per-square-foot-homes-in-aviano-at-desert-ridge/feed/ 0 http://thesunshinebroker.com/2008/10/07/festival-in-the-desert-comes-to-desert-ridge/ http://thesunshinebroker.com/2008/10/07/festival-in-the-desert-comes-to-desert-ridge/#comments Tue, 07 Oct 2008 20:57:00 +0000 Kim Anderson http://thesunshinebroker.com/?p=121 The first annual Festival in the Desert is coming to the Desert Ridge community October 10, 11 & 12 at the JW Marriott Desert Ridge Resort & Spa.

Festival in the Desert will bring a diverse blend of music from famed artists such as Patti LaBelle, Smokey Robinson, The Temptations, Pat Benatar, Boz Scaggs, Euge Groove and many more.  The Festival will also feature Art Booths with local artists showing off their creative talents.

The Festival in the Desert parking will be located at Toscana of Desert Ridge, 5450 E. Deer Valley Dr., Phoenix, in the West and East side parking lots.  Visitors will park in these lots and be conveniently bused in via local PV School buses.

The Festival sponsors will create the annual Music to Our Ears donation fund that will directly support the Pinnacle High School Music Program towards music and travel.

Desert Ridge residents can receive discounted tickets by visiting http://jwfestivalinthedesert.com/hoa.  All non-residents can get tickets at http://jwfestivalinthedesert.com.  The JW Marriott Desert Ridge resort is also offering resort packages for the 3 day festival.

Have a good time! ~ Kim

Ready to Sell You Your Slice of the Arizona Sunshine!

Los Angelas based Sequoia Productions, producers of the Academy Awards Governors Ball and the Primetime Emmy Awards Creative Awards & Governors Ball will be coordinating the events for the grand opening.  The opening event will be a block party on Thursday night from 6:00 – 9:00pm.  The remaining schedule of the events will be announced shortly.

High Street will be an exciting urban community featuring nearly one million square feet of speciality botiques, restaraunts, The Residences on High Street and Class A office & medical suites.

As a resident of Desert Ridge it has been truly amazing watching this city emerge from the vacant desert land that was 56th street & Deer Valley.  I am eagerly awaiting the grand opening and all the future phases to open.

If you would like more information about the residential opportunity at High Street, drop me an email or call me at 480-201-4185.