Tag Archives: fountain hills

Four peaks plaza

Sand Capital acquires Four Peaks Plaza

Sand Capital, a privately-held real estate investment company, located in Scottsdale, Ariz., has just closed on 140,390 square foot Target-anchored power center in Fountain Hills. Sand Capital is the financial arm and sister company to Sandor Development Company, which was founded in 1963 in Indianapolis, Indiana. Today, Sandor owns and manages over 8 million square feet of shopping centers in 25 states throughout the United States. Once acquired, Sand Capital assets are managed and leased by Sandor.

 

 

Four Peaks Plaza at 16735-16845 East Shea Boulevard is located in the northern Phoenix suburb of Fountain Hills. The center is comprised of 28 units and three outlots. Some of the major national tenants include Ross Dress for Less, Petco, Pier 1 Imports, Hi Health, Dollar Tree, Starbucks, Subway and O’Reilly Auto Parts. The leasing flyer is attached.

 

 

Earlier this month, Sand Capital acquired 29 CVS stores in 12 states and six shopping centers in three states.

waltdanley1

Danley Ranked No. 1 Selling Agent in Arizona

Walt Danley ranked as the No. 1 selling real estate agent in Arizona by sales volume, according to the REAL Trends “The Thousand: 2014 Top 1,000 Real Estate Professionals.” The list was published in The Wall Street Journal on June 27, 2014.

Danley is ranked No. 30 in the U.S. for individual sales volume, having sold $167,105,094 in residential real estate in 2013. “The Thousand” list is comprised of third-party data and honors the top one thousand real estate professionals and teams in the nation.

Walt Danley is the president and namesake of Walt Danley Realty, a Scottsdale-based luxury residential real estate brokerage. The firm is Arizona’s affiliate of Christie’s International Real Estate and boasts the largest inventory of million-dollar estates within Arizona. Danley has sold nearly $3 billion during his 37-year real estate career, and has been ranked in the top one percent of real estate agents nationally every year since 1977.

“The secret to successful real estate transacting is conducting business with integrity, building strong personal relationships, and leveraging the strengths of your team,” said Walt Danley, president of Walt Danley Realty. “I am honored to work alongside a team of the most skilled real estate professionals with vast expertise, market knowledge and creative ideas.”

Walt Danley Realty represents luxury homebuyers and sellers in the Northeast Valley of Phoenix including Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree. Walt Danley Realty is located at 6720 N. Scottsdale Rd., #140, Paradise Valley, AZ 85253. For more information, visit www.waltdanley.com.

bacon

Local salt company launches new bacon products

Local salt purveyors Aaron and Liz Eckburg have been busy. These two serial entrepreneurs have parlayed their love of pork products and salt and have launched a new line of bacon aptly named, “Bring Home the Bacon” this month at the Gilbert and Fountain Hills Farmers’ Markets, and are working to bring it to local grocery store shelves in the very near future.

“There’s a hole in the market for locally made, artisan bacon and we are filling it,” said Co-Owner of go lb. salt, Aaron Eckburg. “This is heritage bred pork with no hormones or antibiotics. It’s one of the highest quality bacons that will be on the market in the United States today.”

The bacon will launch in four initial flavors offered in thick-cut, convenient, half-pound packages. These bacons for every occasion are: Applewood Maple, Savory Herb, Chocolate and Black Truffle. Applewood Maple, Savory Herb and Chocolate are $11 and Black Truffle is priced at $17.

“As far as we can tell, we have created the world’s only black truffle bacon and we’re excited to share our premium proteins with bacon lovers everywhere,” said Aaron Eckburg.

Bring Home The Bacon is premium, dry cured bacon and it boasts 35-50% less sodium than most brands.

“We’ll soon offer the bacon for sale on our website with earth-friendly, insulated packaging that is entirely biodegradable,” added Eckburg.

Bring Home the Bacon’s whimsical packaging showcases their newly appointed mascot “Pigsley” a friendly cartoon piglet who debunks bacon myths and touts the product as the “best bacon you’ll ever eat.”

Go lb. salt has offered various home curing kits on their website that teaches home cooks how to dry age beef, make their own bacon or corned beef.

“It was a natural progression from our kits to making actual bacon to sell around the state and nation. We’re passionate about pork,” said Eckburg.

87702112

HomeSmart International Expands Network in Arizona

This month, real estate firm HomeSmart International opened its newest franchise in Fountain Hills, Arizona, operating as HomeSmart Premier. The nationwide company based in Phoenix began franchising two and a half years ago, offering one of the most attractive business models in the real estate industry, with a focus on increasing their level of realtor knowledge and attentiveness to customer service.

Since opening in January 2000, HomeSmart has had tremendous success by growing to over 7,500 agents nationwide. Recently ranked as the number one real estate company in Arizona and throughout the Southwest, HomeSmart continues to open new offices and add jobs across the United States.

Fountain Hills franchise owner Christine Schroedel brings nearly ten years of real estate experience to HomeSmart. In addition to a wealth of real estate knowledge, Schroedel brings significant experience in marketing, advertising and PR. Coming from a family steeped in real estate, Schroedel sees the industry as a natural transition and perfect way to blend her marketing skills with a passion for real estate. She is thrilled to be joining the HomeSmart family.

“My agent acquaintances that work for HomeSmart just raved about the company and had encouraged me to check it out myself for several years,” said Schroedel. “After meeting the HomeSmart team, I realized that we share a similar passion for excellence and honesty.” She is amazed by the agent-technology and calls it “best-in-class” from what she has seen.

HomeSmart emphasizes the importance of being aware of client needs and exceeding their expectations, which in turn builds strong relationships with the buyers and sellers in every market. Created by Founder and Chairman Matt Widdows and his development team, HomeSmart’s proprietary software and operational support positions its franchise partners ahead of the curve—saving business owners huge costs attributed to web hosting, lead generation and back office systems.

“We are proud to announce the new growth of HomeSmart in Arizona,” said HomeSmart International CEO and President Chuck Lemire. “Christine and her team will be providing the best home services to customers and clients throughout the Phoenix area, as well as focusing on growing relationships outside our state boundaries.”

HomeSmart continues to open new offices and add jobs across the United States, with offices throughout thirteen states and international operations in Shanghai, China. HomeSmart most recently opened two franchises in Chicago, IL. The company added approximately 3,500 new jobs in 2012, and their goal is to continue to grow nationally and internationally in 2014 and for years to come.

For more information on HomeSmart and its franchise opportunities, visit www.homesmartinternational.com.

Test

Nelson Appointed to Boys & Girls Clubs’ board

The law firm of Tiffany & Bosco P.A. announced that attorney and shareholder Kevin P. Nelson was appointed as a Member of the Board of Governors to the Boys & Girls Clubs of Greater Scottsdale.  Board members serve a minimum of one term (three years) and are responsible for serving on standing and special event committees, fiduciary oversight and providing resources to fulfill the mission of the organization. The non-profit organization provides 17,700 Valley children and teenagers with a positive, supervised and fun environment to help reach their full potential. The Clubs offer more than 100 youth development programs at the organization’s nine branches and 12 outreach sites located in Scottsdale, Phoenix, Mesa, Fountain Hills and the Salt River Pima-Maricopa and Hualapai Indian Communities. Their programs help promote healthy lifestyles, good character and academic success.

Michael Tiffany, Managing Partner and Shareholder of Tiffany & Bosco stated, “We are thankful that Kevin is such an active member in an organization that works with children to benefit our entire community. Kevin is a dedicated lawyer and committed to serving our community and his clients.”

Test

Nelson Appointed to Boys & Girls Clubs' board

The law firm of Tiffany & Bosco P.A. announced that attorney and shareholder Kevin P. Nelson was appointed as a Member of the Board of Governors to the Boys & Girls Clubs of Greater Scottsdale.  Board members serve a minimum of one term (three years) and are responsible for serving on standing and special event committees, fiduciary oversight and providing resources to fulfill the mission of the organization. The non-profit organization provides 17,700 Valley children and teenagers with a positive, supervised and fun environment to help reach their full potential. The Clubs offer more than 100 youth development programs at the organization’s nine branches and 12 outreach sites located in Scottsdale, Phoenix, Mesa, Fountain Hills and the Salt River Pima-Maricopa and Hualapai Indian Communities. Their programs help promote healthy lifestyles, good character and academic success.

Michael Tiffany, Managing Partner and Shareholder of Tiffany & Bosco stated, “We are thankful that Kevin is such an active member in an organization that works with children to benefit our entire community. Kevin is a dedicated lawyer and committed to serving our community and his clients.”

FountainHillsPlaza

CBRE Sells Fountain Hills Plaza for $20.55M

CBRE has completed the sale of Fountain Hills Plaza in Fountain Hills. The 111,289 SF grocer and hardware store anchored retail center commanded a sale price of $20.55M

Glenn Smigiel, Bob Young, Steve Brabant and Rick Abraham of CBRE’s Phoenix office represented the seller, J & R Holdings XX LLC, an entity formed by Phoenix-based Pederson Group. The buyer was Whitestone REIT of Houston, Texas.

Fountain Hills Plaza is a very stable, solid, secure asset with Bashas’ and Ace Hardware as well-performing anchor-tenants,” said Smigiel. “With the current tenant roll and its excellent location, there is much opportunity to grow rents and fill the remaining vacancy. Additionally, there is further opportunity for development in the form of an available vacant pad.”

We are very pleased with this transaction. After redevelopment and significant improvement of the property, we found an ideal buyer in Whitestone,” said Jeff Manelis, president, Pederson Group. “From our initial discussions, through due diligence to closing, Whitestone was excellent to work with and moved quickly to ensure the transaction was completed in a timely, efficient manner. The speed of the transaction enabled us to timely deal with a pending loan maturity.”

Originally built in 1986, Pederson Group redeveloped Fountain Hills Plaza in 2009 with a new, state-of-the-art Bashas’ and an expanded Ace Hardware. Since the redevelopment and despite the recent recession, the property has signed five new national tenants, including Little Caesar’s, GNC, H & R Block and Great Clips.  Additionally, Fountain Hills Plaza has a 6,000 SF vacant pad available for future development. Offering an excellent build-to-suit opportunity, the space has seen significant recent activity.

Located at the southwest corner of Palisades Boulevard and La Montana Drive in Fountain Hills, Fountain Hills Plaza benefits from one of the busiest intersections in the community as well as a well-established residential area. The retail center also features 143 covered parking spaces in front of Bashas’.

housing.prices

WSJ Ranks Danley as Top Arizona Realtor

The Wall Street Journal and REAL Trends, Inc. rank Walt Danley as the top selling real estate agent in Arizona, according to its “The Thousand: 2013 Top 1,000 Real Estate Professionals” list released June 28, 2013. Danley is ranked No. 37 in the U.S. for individual sales volume, having sold more than $137.7 million in residential real estate in 2012. “The Thousand” list is comprised of third-party data and honors the top 1,000 real estate professionals and teams in the nation.

Walt Danley is the president and namesake of Scottsdale-based luxury residential real estate brokerage, Walt Danley Realty. The firm is Arizona’s affiliate of Christie’s International Real Estate and boasts the largest inventory of million-dollar estates within Arizona. Danley has sold more than $2.5 billion during his over 35-year career, and has been ranked in the top one percent of real estate agents nationally every year since 1977.

“Being listed amongst the top real estate agents in the nation is an honor and very humbling,” states Danley. When asked what advice he would give an agent entering the luxury real estate arena, Danley comments, “Operate your business with integrity, market knowledge, old-fashioned hard work and truly understand the needs of your client.”

Walt Danley Realty represents luxury homebuyers and sellers in the Northeast Valley of Phoenix including Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree. Walt Danley Realty is located at 6720 N. Scottsdale Rd., #140, Paradise Valley, AZ 85253. For more information, call (480) 991-2050 or visit www.waltdanley.com.

Luxury Home - AZ Business Magazine November 2008

Luxury market sees 54% drop in short sales

This summary looks at single family homes over $500,000 in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek and Carefree.

SUPPLY

The supply of active listings offered for sale as of May 1 is 2,222 down 2% from last month and comprising 2,122 normal (down 2%), 83 short sales (down 8%) and 17 lender-owned (up 31%). Last year on the same date we had 2,017, with 1,803 normal, 179 short sales and 35 lender-owned. So supply is 10% higher than last year, with more sellers encouraged by the improvement in the market. Homes in distress have declined significantly over the last year with short sales down by 54% and lender-owned homes down by 51%. 2,222 luxury home listings remains a sufficient supply to satisfy the present number of buyers and the market remains fairly balanced, without the chronic shortages of supply which have been affecting prices at the low end of the market. For homes priced over $2,000,000 there are 454 active listings, down 8 from last month but 3% higher than the 439 we measured last year. This higher priced sector has more plentiful supply than the lower priced ranges. However this year there are only 2 lender-owned home and 5 short sales over $2,000,000, down from 5 and 13 on May 1, 2012.

DEMAND – SALES

There were 354 sales closed though ARMLS in April, up 16% from the 305 reported in March, and up a strong 31% from the 271 we saw in April 2012. Since last December sales numbers have been getting increasingly impressive and this was the strongest April for sales over $500,000 that we have seen since 2007, when there were also 354 sales. There were 7 sales over $3,000,000 compared with 8 in April 2012, and 18 sales between $2,000,000 and $3,000,000, up from 10 in April 2012. The range from $1,500,000 to $2,000,000 declined from 16 to 11 sales, but all the lower price ranges saw substantial increases over last year. 92% of sales were normal in April 2013 compared with 82% last year.

multimedia

Local Youth Honored at Digikids Film Festival

The Boys & Girls Clubs of Greater Scottsdale recently partnered with the Microsoft Store located at Scottsdale Fashion Square to showcase young Club members’ excellence in the area of multimedia art as part of the Digikids Film Festival. The program encourages Club members to learn and practice in digital arts, including movie making, music making, and graphic design.

The young honorees and the public got the chance to view their movies on the big screen, courtesy of the Harkins Theatre at Scottsdale Fashion Square. After the movie screenings, the festival moved to the Microsoft Store where a red carpet and awards presentation took place.

Award Winners
Pinnacle High School students Parker Bradshaw and Harrison Mosbaugh, members of the Club’s Vestar Branch in Desert Ridge, both took home “Best Actor” honors during the event for the exceptional work in their branch’s film “Living the Dream.”

Pueblo Elementary student Nhi Tran, a member of the Rose Lane Branch in Scottsdale, was named “Best Actress” for her work in her branch’s film, “Evil Dentist.”

Desert Mountain students Jake Davis and Aaron Fugelberg, members of the Virginia G. Piper Branch in North Scottsdale, earned the “Best Music Video” crown for their “White and Nerdy” musical short.

Rounding out the North Valley-area honorees were Copper Ridge Elementary students Jillian Miller and Samara Hamideh, members of the Thunderbirds Branch in North Scottsdale, won in the category of “Best Stop Motion” for their “Koala Cake” short.

Taking home “Best Movie” honors for their “Prison Break” movie submission during the event was none other than the team from Arcadia’s own Hartley & Ruth Barker Branch, including:
* Christa Palacio, 9, of Pima Elementary School
* Diego Davila, 9, of Arcadia Neighborhood Learning Center
* Adyson Anaya, 9, of Pima Elementary School
* Iliana Morales, 10, of Pima Elementary School
* Kimberly Sierra, 9, of Tonalea Elementary School

In addition, children from the Club’s Paiute Outreach Center in Arcadia were also honored with the “Best Scary Movie” award for their “A Pauite Haunting” short film submission. These honorees are:
* Jasmine Silva, 9, of Tavan Elementary School
* Jhosevetd Gutierrez, 13, of Ingleside Middle School
* Maria Gutierrez, 13, of Ingleside Middle School
* Melonie Alvarez, 9, of Tonalea Elementary School
* Jonothan Garcia, 7, of Tavan Elementary School
* Annay Lopez, 11, of Tonalea Elementary School

Taking home “Best Action Sequence” honors during the event was none other than the team from the Salt River Pima-Maricopa’s own Lehi Branch, including:
* Thalisie Paukgana, 11, of Kerr Elementary School
* Anthony Shippley, 11, of Kerr Elementary School
* Alex Miranda, 11, of Lehi Elementary School

In addition, taking home “Best Sound Effects” honors during the event was the team from the Club’s Red Mountain Branch, also on the reservation, including:
* Victoria Maynard, 10, of Whittier Elementary School
* Mekkhi Chiago, 11, of Whittier Elementary School
* Vincent Chiago, 10, of Whittier Elementary School
* Nate Wood, 12, of Whitman Elementary School
* Jared Wood, 11, of Whitman Elementary School
* Gregorio Martinez, 11, of Whittier Elementary School
* Alacia Carlisle, 11, of Whittier Elementary School
* Georgia Carlisle, 10, of Whittier Elementary School
* Hastiin Reina, 11, of Whittier Elementary School
* Elisette Hayes, 10, of Salt River Elementary School
* Amber Dorchester, 10, of Salt River Elementary School
* Arianna Flores, 11, of Salt River Elementary School

Taking home “Best Harlem Shake” honors, a new award based on the popular viral videos popping up online each day, during the event was none other than the team from Fountain Hills’ own Mary Ellen & Robert McKee Branch. Dozens of youth members helped plan the “shake” and participated in the video.

Each team of winners will now be entered into the national competition where it will be up against regional winners in all 50 states. National winners will be announced later this summer.
In addition to seeing their work on the big screen, the kids were honored at the event with a Microsoft Store goody bag filled with over $75 worth of items including a lunch pail, sunglasses, store discount cards, games and more.

Club members worked all year to master the skills of digital art through the program. The arts, which develops creativity and cultural awareness through all different types of mediums, is just one of five core areas focused on at the Boys & Girls Clubs. The non-profit organization also promotes leadership development, education, life skills and sports, fitness and recreation through their 100 youth development programs.

“We fully support creativity through technology, and we’re excited to deepen our commitment to the Scottsdale communities by providing technology and resources to the Boys & Girls Clubs,” says Melissa Brewer, Community Development Specialist at the Microsoft Store. “We were so impressed by the grasp youth have today on software tools and technology.”

Test

Boys & Girls Clubs board appoints Bosco

The law firm of Tiffany & Bosco P.A. announced that attorney and shareholder Mark S. Bosco was appointed as a Member of the Board of Governors to the Boys & Girls Clubs of Greater Scottsdale.

Board members serve a minimum of one term (three years) and are responsible for serving on standing and special event committees, fiduciary oversight and providing resources to fulfill the mission of the organization.

The non-profit organization provides 17,700 Valley children and teenagers with a positive, supervised and fun environment to help reach their full potential. The Clubs offer more than 100 youth development programs at the organization’s nine branches and 12 outreach sites located in Scottsdale, Phoenix, Mesa, Fountain Hills and the Salt River Pima-Maricopa and Hualapai Indian Communities. Their programs help promote healthy lifestyles, good character and academic success.

Steve Davidson, President and CEO of the Boys & Girls Clubs of Greater Scottsdale stated, “We are thrilled to have Mark join our team.  We know that his passion, commitment, and comprehension of the work done by our organization will help us grow and continue to serve more youth in our communities.  He is an outstanding addition to our organization.”

Test

Boys & Girls Clubs board appoints Bosco

The law firm of Tiffany & Bosco P.A. announced that attorney and shareholder Mark S. Bosco was appointed as a Member of the Board of Governors to the Boys & Girls Clubs of Greater Scottsdale.

Board members serve a minimum of one term (three years) and are responsible for serving on standing and special event committees, fiduciary oversight and providing resources to fulfill the mission of the organization.

The non-profit organization provides 17,700 Valley children and teenagers with a positive, supervised and fun environment to help reach their full potential. The Clubs offer more than 100 youth development programs at the organization’s nine branches and 12 outreach sites located in Scottsdale, Phoenix, Mesa, Fountain Hills and the Salt River Pima-Maricopa and Hualapai Indian Communities. Their programs help promote healthy lifestyles, good character and academic success.

Steve Davidson, President and CEO of the Boys & Girls Clubs of Greater Scottsdale stated, “We are thrilled to have Mark join our team.  We know that his passion, commitment, and comprehension of the work done by our organization will help us grow and continue to serve more youth in our communities.  He is an outstanding addition to our organization.”

InsideHittingOut5x7

SunRidge Canyon Golf Club opens Jim McLean Performance Center

SunRidge Canyon Golf Club announced today the opening of the new Jim McLean Performance Center, a 1,600 sq. ft. structure located on the club’s practice tee occupied by Hot Stix Golf and Jim McLean Golf School.  The building offers two hitting bays: one completely enclosed and climate controlled that opens to the practice range via a roll-up door.  The other covered bay is open to the practice tee on two of four sides.  Both are decked out with the latest video and launch-monitor technology.  Just outside of the building, the practice tee was expanded to include 50 percent more turf. Two new bunkers and a second practice green were also added. There is also a therapy room for stretching sessions, a restroom and administrative space.

As the name suggests, the new facility is home to a Jim McLean Golf School, which is in its second season at SunRidge Canyon.

“The new facility is fantastic,” said McLean.  “The indoor/outdoor capabilities provide our students an additional level of comfort, while giving the instructors a state-of-the-art place to help golfers realize their potential within the game of golf.  It’s just very well done—a huge asset for our instructors and students.”

The performance center is also home to Hot Stix Golf, an industry leader in the art and science of custom golf club fitting.  The facility at SunRidge Canyon allows the professional club-fitters to visually assess the golfer’s ball flight in addition to uncovering their unique swing DNA with the help of Trackman launch monitor technology.  From there, they match the golfer’s specs to the best complement of equipment, across all major brands, by leveraging Hot Stix Golf’s proprietary software developed through years of independent research and development carried out at their Scottsdale Airpark headquarters.

“It’s gratifying to see this project come to fruition,” said Jeff Lessig, General Manager of SunRidge Canyon Golf Club.  “We now offer one of the most comprehensive and effective game-improvement options available in the Valley of the Sun.”

To schedule a lesson or club fitting at the new Jim McLean Performance Center, contact SunRidge Canyon Golf Club at 480-837-5100.

SunRidge Canyon Golf Club features an 18-hole, 6,823-yard, par-71, Keith Foster-designed golf course located on the slopes of the McDowell Mountains in Fountain Hills, Arizona, adjacent to Scottsdale. Open since 1995, SunRidge Canyon has been recognized as one of Arizona’s finest golf facilities by numerous golf publications.  Most recently it was one of only 25 Arizona clubs ranked as 2012 Golfweek’s Best Golf Courses: State by State. The golf course works its way down a large canyon during the front nine before bending around to climb up the canyon on the back nine.  Along the way, golfers discover a measure of beauty and challenge unlike any other desert golf course in the Valley, with the last six holes – known as the Wicked Six – personifying this appealing combination.

SunRidge Canyon Golf Club is also a great place to learn the game at the Jim McLean Golf School, the only one in Arizona and 13th world-wide.  Jim McLean has long been recognized as one of the top golf instructors in the world, named 1994 PGA Teacher of The Year, and currently ranked No.3 by Golf Digest, among many other distinctions. SunRidge Canyon’s new performance center is also home to the custom club fitting of Hot Stix Golf.

The club’s Spanish hacienda-style clubhouse provides a beautiful setting for those looking for an awe-inspiring site for weddings, receptions, awards banquets or any type of special event.  Among other things, guests are treated to stunning mountain views as well as the property’s shimmering water features and lush Sonoran Desert landscape.  For more information on SunRidge Canyon, visit www.SunridgeGolf.com or call 480-837-5100.

luxuryrealestate

Luxury Real Estate Market Retrospective: 2001-2012

News archives must be bursting with stories examining real estate’s regional and national trends after one of the most dramatic events in U.S. real estate history. However, with the old adage in mind that all real estate is local, we wanted a clear retrospective of the market we serve without the sensationalism and consistently inconsistent “expert” predictions.

Real estate veterans and industry followers are no doubt aware of the outstanding work Mike Orr has done as founder of real estate research firm The Cromford Report, and his recent appointment to Director of the Center for Real Estate Theory and Practice at ASU’s School of Business. We’ve asked him to analyze specifically our luxury market since 2001.

Though it’s no secret that residential real estate is often a purchase driven by passion, our clients are increasingly concerned about home-as-investment strategy. With this in mind, we analyzed the most helpful statistics for luxury home investors in Phoenix’s Northeast Valley from 2001 through 2012. The analysis covers single family homes $1,000,000 or more in Scottsdale, Paradise Valley, Fountain Hills, Rio Verde, Arcadia, Biltmore, Cave Creek, and Carefree. It is our hope that a better understanding of where we’ve been will help us know where we are going.

Annual Sales

In 2001, there were 396 sales of single-family homes listed at $1,000,000 or more. At the time, Scottsdale (182) narrowly beat Paradise Valley (170) for units sold, but Paradise Valley had a slight edge in terms of dollars spent. Sales in these two areas made up 89 percent of the entire luxury market, with Phoenix trailing at 15 sales in the Biltmore area and 13 in Arcadia. Carefree (7), Cave Creek (4), Fountain Hills (4) and Rio Verde (1) were relatively small markets then, and while they have grown tremendously since 2001, 86 percent of sales are still in either Scottsdale or Paradise Valley.

Sales volume grew slowly in 2002 and 2003, before expanding dramatically in 2004 and 2005 when it peaked at 1,563, almost four times the sales volume a mere four years earlier. Scottsdale accounted for much of the luxury sales growth, thanks to its relatively undeveloped landscape with room for new projects in DC Ranch, Troon, Grayhawk, McDowell Mountain, Pinnacle Peak, the Shea Corridor and Desert Mountain.

Although sales began to decline after the frenzied peak of 2005, luxury home sales remained reasonably buoyant when compared to the market at large, until demand fizzled out in the second half of 2007. The broader real estate market collapse, as well as the stock market collapse in 2008, would destroy confidence in real estate for years to come. Foreclosures and short sales became part of the new vernacular, peaking in 2010 and representing 33 percent of transactions that year. Total annual sales have remained at a similar level for the past five years, but distressed sales have declined to 17 percent of transactions in 2012. Total sales in 2012 were at their highest level since 2007.

Sales Pricing

The Northeast Valley luxury market appears extremely volatile when measured on a shortterm basis, due to relatively low volume and a wide range of price points. Greater accuracy is obtained by measuring pricing over longer periods, and the best way to judge pricing is typically on a per square foot basis. The next chart shows the 12-month moving average sales price per square foot, meaning each month is the average of that specific month and the 11 months preceding it.

In 2001, the luxury market was already troubled by over-supply, and took another hit after the terrorist attacks of 9/11 and resulting stock market weakness. However, by 2004 pricing improved and prices escalated quickly during 2005 and 2006.

Yet, while prices fell from mid 2006 onwards in less expensive markets, luxury market price per square foot continued climbing – despite a slowdown in sales – into the early part of 2008. However, the extreme economic recession and the failures of Bear Stearns and Lehman Brothers took their toll from May 2008 onwards; prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010, before drifting to their lowest point ($277) in February 2012. Although the decline from peak to trough was a significant 31%, this is far less than the 59% drop in average price per square foot experienced by the overall market in the Metro Phoenix area.

Pricing finally began to recover as distressed homes worked their way through the system and by the end of 2012, price per square foot had crawled back to $291 and continue to trend upward. “86 percent of sales are still in either Scottsdale or Paradise Valley” “prices collapsed from the peak of $404 per square foot in December 2007 to reach $290 by May 2010.

Supply

During 2004 and 2005, new listings grew at a slower rate than sales volume, but they continued growing in 2006 and 2007 as sales declined; projects began during what we now recognize as the peak took time to finish. This ominous imbalance led to the huge excess of inventory in 2008 when only 766 homes were sold across the entire Northeast Valley luxury market. The number of distressed listings peaked in 2009 at 21 percent of new listings before declining to 9 percent in 2012. The number of new listings in total was at its lowest in 2011; 2012 was the first year since 2007 to show an increase in inventory. By the end of 2012, supply was roughly in balance with demand.

Seasonality

The luxury market is most active during the spring, and most transactions close from March to June each year. Over the last 12 years, this period typically generates sales at a remarkable 39 percent higher rate than the rest of the year.

Summary and Outlook

Between 2001 and 2012 the luxury home market has experienced a period of great turbulence and volatility, though not quite the extremes suffered by the rest of the market. As 2012 came to a close, supply and demand are near balanced. Barring external economic shocks, the luxury market looks likely to be relatively calm and positive.

For a personal analysis of what these numbers mean for your home, please contact our office at 480-991-2050.

Flag USA and New Mexico

Kavanagh returns as House Appropriations chair

Fountain Hills Republican John Kavanagh will return as chairman of the state House Appropriations Committee when Arizona lawmakers report in January for their 2013 regular session.

Kavanagh’s return as Appropriations chairman is among 18 committee chairmanships announced Thursday by Speaker Andy Tobin in a post-election reorganization.

Other returning House chairmen include Bob Robson for the Rules Committee, Doris Goodale and Eddie Farnsworth for Judiciary.

Newly appointed chairmen include Debbie Lesko for the tax-writing House Ways and Means Committee and Justin Olson for a new Federalism and Fiscal Responsibility Committee.

Lesko is currently House majority whip.

In all, the House will have 18 committees, all led by majority Republicans.

McDowell Sonoran Preserve, Photo: Flickr, Dru Bloomfield - At Home in Scottsdale

Experience The Desert At Scottsdale’s McDowell Sonoran Preserve

The McDowell Sonoran Preserve is 21,400 acres of land located just outside of Fountain Hills. The Preserve is full of geological discoveries, desert wildlife and a large selection of plant species.

The McDowell Sonoran Conservancy was created to work with the City of Scottsdale in collecting data of the area. The Preserve is currently looking to add another 6,400 acres of state land to the north of the Preserve and then another 24,000 acres in 2013. Visitors to the park can expect to see a number of different landscapes from dry deserts to lush underbrush.

“The initial idea behind the Preserve started in the 1960s when Scottsdale development started to move north, and they were concerned that some of the mountains would be built on,” says Scott Hamilton, who works for the McDowell Sonoran Conservancy’s Preservation Division.

An environmentally sensitive land ordinance was then created, and in the 1990s, they worked at acquiring and setting land aside to protect it from being built on. In 1995, the first sales tax of .2 percent was approved in Scottsdale, and the money that was generated from the sales tax was used to buy land on the mountains. At first, the Preserve was not open to the public, but they created a second tax of .15 percent in 2005 that was used to purchase land as well as provide funding to create trailheads.

Hamilton says that the public is a strong part of the Preserve. “The Peserve was created by the public and continues to be shaped by the public as we go into the future,” he says.

Tom's Thumb Trailhead, McDowell Sonoran PreserveThe preservation planners work with contractors and volunteers to create and manage trails throughout the Preserve. Volunteers can work through the Conservancy to attend “new steward classes” where they can work in an area of their interest such as building trails, maintenance and construction.

The most recently renovated trail was Tom’s Thumb Trailhead, which opened on Oct. 18. The work for Tom’s Thumb Trailhead began three years ago when the planners worked with contractors and architects to design the structures at the beginning of the trail; they then began working on creating the trail.

Each of the trails throughout the preserve is rated depending on difficulty. There are volunteers who work to hand out maps of the trails, and they also provide visitors with trail recommendations depending on what type of hike they are looking tackle.

“The program is pretty innovative,” Hamilton says. “I get calls from other land managers in other states that are looking to do what we do here. We’re really lucky; it’s still perpetuated by the citizens through volunteers and tax votes. The citizens in Scottsdale are very active and willing to spend their money and their time.”

The preserve is open daily, starting 30 minutes before sunrise and closing 30 minutes before sunset. A list of the exact times can be found at scottsdaleaz.gov/preserve.

Tom’s Thumb Trailhead at McDowell Sonoran Preserve

23015 N. 128th St.
Scottsdale, AZ 85255
(480) 312-7013
scottsdaleaz.gov/preserve

 

Keep an eye out for these Arizona wineries opening soon.

Upcoming Arizona Wineries

Love wine? Like to try out new companies and products? You’re in luck, in addition to the wineries already open around Arizona the following wineries will be opening soon.

Northern Arizona

Clear Creek Vineyard & Winery
4053 E. Hwy 260, Camp Verde
(928) 567-2158


Sonoita/Elgin

Hannah’s Hill Vineyard & Winery
Elgin – visits by appointment only

San Pedro Valley Vineyard
Benson

Venado Cola Blanca
Patagonia
(520) 394-0239


Southeastern Arizona

Sierra Bonita Vineyard
Wilcox
(602) 202-5345

Broken Glass Vineyard and Winery Estates
WIlcox

Golden Rule Vineyards
Dragoon

Erath’s Cimarron Vineyard
Wilcox

Lawrence Dunham Vineyards
13771 Fountain Hills Blvd. Suite 360, Fountain Hills
(602) 320-1485

Gallifant Cellars
Wilcox

Odyssey Cellars
8401 Bell Ranch Rd., Wilcox