Scottsdale and Paradise Valley Real Estate News

Posted on February 25, 2013 by Marta Walsh

This is The Marta Walsh’s Group February Newsletter.

The monthly real estate newsletter is here for February. It’s been a very busy month. The market is busy but the extreme low levels of inventory make it a touch frustrating for buyers.

Client Testimonial I Wanted To Share

I just wanted to share the following note I received from a dear client. I work tremendously hard to make sure all my clients are happy and it’s so rewarding when they achieve their goals.

Marta

I am writing you today to let you know that I am thrilled with my new home purchase. You stuck it out and kept going even when I had given up! 19 months later you found me everything I had on my check list. I know I am a guy who will not settle and your tenacity helped me to the finish line. Thanks for finding my dream home and if you ever need to have a potential client call me please do so and I will tell them how professionally you handled finding me the home I have always wanted. Stay cool. Real estate is definitely your passion. I appreciate that.

Your friend
JW, Paradise Valley

Along with the note was a picture snapped from the home. It shows the McDowell mountains covered in snow. Hard not to be inspired by that view!

Paradise Valley Arizona

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7710 E GAINEY RANCH RD 226 Scottsdale, AZ 85258 | Resort Style Living Condo at Gainey Ranch | MLS#4879438

Posted on January 25, 2013 by Marta Walsh

Want access to everything Gainey Ranch has to offer but at an affordable price? I have just listed the perfect condo for exactly that. You get the security of 24 hour guard gates. Access to tennis, golf, community pools and spas, recreation center. All in a location in the heart of Scottsdale that just can’t be beat for dining, shopping and entertainment. With fast access to loop 101 for commuting and airports.

Gainey Ranch is true resort style living as soon as you are greeted by the avenues of palm trees you know you arrived to a special place.

Offered At $219,000 | 2 Bedrooms 1 Bath| 865 Square Feet

7710 E Gainey Ranch Road

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North Scottsdale Luxury Home For Car Enthusiasts | Extended Garage & RV Parking

Posted on January 16, 2013 by Marta Walsh

SOLD For $1,550,000. Only 58 Days on the Market

Love cars? How about bikes, boats or RV’s. If that sounds like you I have a perfect North Scottsdale luxury custom estate for you to consider. With RV pad, an extended 4 car garage that can easily fit more and bikes etc. A powered car lift that comes attached.

The garage is over 1,800 square feet.

Offered at $1,649,500 | MLS# 4862062

5 Bedrooms 7 Bathrooms | 6,004 Square feet

Extended 4 Car Garage With Lift

Extended 4 Car Garage With Lift

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Scottsdale Real Estate Statistics | 2013 The Recovery Continues

Posted on January 15, 2013 by Marta Walsh

Real estate in 2012 was on the up.Both in terms of pure numbers but also the consensus on the street.

2013 is a new year and the market is moving fast. Here are my must have real estate statistics to keep you ahead of the crowd as we begin the year.

All the statistics below are for the city of Scottsdale. The stats are compiled from Arizona Regional Multiple Listing Service (ARMLS).

Currently Active Listings: 2,214
Median List Price: $579,450
Average Days on Market: 159

Homes currently under contract: 919
Median List Price: $350,000
Average Days on Market:  106

The market under $500,000 is seeing remarkable gains. Fast sale times. Low inventory. This is now very much a sellers market. The only problem is some sellers still are comparing prices to 2007-8 and we are not back there yet.

For closed transactions in 2012

Number of sales: 7,866
Median List Price:  $329,000
Median Sales Price: $320,000
Average Days on Market: 104

For 2012 average monthly sales were 655 homes. That means there are less than 3.5 months worth of inventory listed for sale. As you see from average days on the market in 2012 homes are selling on average in under 4 months. And interestingly selling for over 97% of asking price.

Luxury Real Estate

The luxury market didn’t take the hit as hard as other markets. It was later to join the party and the losses in percentage terms were not as drastic. For that reason the explosive growth is also not there yet. Here’s the numbers.

The best barometer for the luxury market is 85255. While there are expensive homes throughout 85259, 85259, 85266 and 85262 the highest priced zip code is still 85255.

85255 in 2012 saw 1,262 sales with a median sales price of exactly $500,000. Average days on the market was only 122.

Today there are 416 homes active for sale with a median list price of $899,000.

Average list price for 85255 is $1,598,100. As the pressure on the lower price points there will be trickle up demand into the higher priced areas.

As someone who is in the MLS daily looking for homes for clients I can tell you this. There are not many amazing homes available to purchase in 85255 for less than $1 million. Less than 4% of active homes are distressed. It’s very, very hard to find a deal anymore.

Predictions 2013

If you are buying a Scottsdale home under $500,000 expect a lot of competition throughout 2013. It’s almost impossible to predict any less than continued price rises unless more inventory comes to the table.

I personally do not predict a slowing in price growth for Scottsdale homes until there is towards 3,500 homes active for sale.

If you wanted to check my 2012 predictions they were all pretty much spot on :-)

 

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Paradise Valley Real Estate Statistics | 2013 A New Year A New Market

Posted on January 15, 2013 by Marta Walsh

Real estate moves in waves. Up and down always cyclical. 2013 is a new year and the market is moving. Here are my must have real estate statistics to keep you informed as we begin the year.

All the statistics below are for the Town of Paradise Valley, zip code 85253. The stats are compiled from Arizona Regional Multiple Listing Service (ARMLS).

Currently Active Listings: 285
Median List Price: $1,875,000
Average Days on Market: 211

Homes currently under contract: 58
Median List Price: $1,267,000
Average Days on Market:  188

This tells us that the lower half of the market is still hotter than the more expensive homes. However this does compare favorably to last year.

For closed transactions in 2012

Number of sales: 477
Median List Price:  $960,000
Median Sales Price: $906,000
Average Days on Market: 175

Comparing median sales price of $906,000 to the median list price of the currently under contract homes shows the market is making significant gains.

Average monthly sales for Paradise Valley was 39.75 homes in 2012. Comparing that to current inventory shows 7 months of supply. This would be seen as a fairly balanced market. Where sellers and buyers both have good opportunities.

The influence of short sales and bank owned properties is now minimal. There are only 13 active distressed homes on the market. That’s 4.5% of the market and dropping. There were 87 distressed sales in 2012, compared to 165 in 2011. I believe there will be less than 50 in 2013.

The key statistic will be inventory. There won’t be significant inventory coming from distressed sales so it’s worth keeping a close eye on the number of homes active for sale. If that number remains under 300 there will be continued upwards pressure on prices. Only if inventory pushes back towards 400 will supply side start putting downward pressure on prices again.

My prediction for 2013 is another year of sales between 450 and 500 total sales. But with steady price rises throughout the year. The only real danger to price rises being if enough sellers are encouraged by the higher prices that there is a significant influx of inventory.

 

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12720 E Gold Dust Ave Scottsdale, AZ 85259 | Luxury Custom Estate For Sale | Offered At $1,649,500

Posted on December 13, 2012 by Marta Walsh

SOLD February 2012 – $1,550,000.

One of a kind custom luxury estate on over an acre lot. Built in 2004 but looks & feels brand NEW & is move-in ready.

Features everything you want in a dream home. McDowell Mountain Views. Resort style backyard. All on one level. Guest Casita, extended 4+car garage, RV pad, gated front courtyard entry with its own outdoor fireplace & fountain, circular drive, media room, his & hers walk-in closets.

The most luxurious custom finishes throughout with superb attention to detail. See docs for complete Upgrades and Custom Features. Very Private without HOA yet close to all the dining & shopping that Scottsdale offers. Minutes to Mayo Clinic. Scottsdale living at it’s finest won’t last long!

Offered at $1,649,500 | MLS# 4862062

5 Bedrooms 7 Bathrooms | 6,004 Square feet

12720 E Gold Dust Ave

Luxury Gated Courtyard with hand laid pavers. Cantera stone fireplace and custom fountain.

1270 Gold Dust Ave

Gated Entry to private courtyard.

12720 E Gold Dust Ave Scottsdale 85259

Resort style backyard with mountain views.

For a private showing contact listing agent Marta Walsh | 480 274 5710

Photos

Virtual Tour

http://www.tourfactory.com/937833

Custom Features & Upgrades

Custom iron work gates to make beautiful courtyard in front entrance.

All driveway, courtyard and back patio finished with hand laid European brick pavers.

Custom courtyard fountain with original design carved in Cantera stone by De Santana.

All windows tinted with V-Kool-40 by Accent By Masters. UV Rejection 99%. Solar Energy Rejection 65%. Infra-Red Rejection 94%. Significant decrease of energy costs.

Most windows have automatic sun screens from Awnings By Design. Does not reduce views but blocks heat and offers privacy. Includes wind sensors.

Interior has 3 gas fireplaces with custom designs carved from Cantera stone by De Santana.

Majority of plumbing and lighting fixtures upgraded by owner.

Powder room shower door is one of a kind piece of artwork. Designed by owner, created by Meltdown Glass Art Studio – Artist BJ Katz.

Custom window coverings and draperies.Interior design by Copeland Interiors, Libby Copeland. Draperies in west wing operated by remote control.

Faux painting in entire interior was created by Robert O’Connell & Timothy Chapman. ( Timothy was rated in Arizona’s Top 100 artists this year.) All original art custom painted in domes and niches.

Kitchen has instant hot water. Pot filler over cook top. Reverse Osmosis drinking water system.

6 burner gas cook top convertible to 4 burner plus grill. 2 full size warming drawers. Double wall oven. 2 dishwashers. 2 garbage disposals. Trash compactor.

Exterior of home repainted in 2012.

Pool surface is state of the art Hydrazzo. This is a hand polished marble finish that is resistant to spot etching, topical stains, permanent scale and algae. Easy maintenance. Smooth sensation without being slick or slippery.

New pool sweep.

4 Trane units.

Entertainments system wired on back patio.

RV pad. RV waste can be emptied directly into the homes septic tank.

Built in Garage Cabinets and work bench.

Epoxy coated garage floor. Resists Stains, oil spills, etc.

Car Lift.

Soft Water System.

Property Line extends approximately 80 feet beyond backyard fence (Survey stakes visible).

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