Our current level of housing starts are still where historically we would be at the bottom of a recession. The US population continues to grow, and so does the economy (even if at a slower pace than we'd like).
The housing deficit is so deep, it's going to take decades to get to equilibrium.
Invest in cash flowing real estate, and you should see healthy increases in cash flow, year after year.
The key is cash flow, though. People who are buying sole in hopes of appreciation (e.g. California real estate at tiny cap rates) will likely take big losses, despite the chart above.
For cash flowing real estate, please take a look at this.
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Closings Another slow week, just 5 closings totaling $6.5 million. Listings
This is a BIG WEEK for new listings. Longtime readers know that I rarely highlight more than a couple of homes, but this week we have quite a few noteworthy new listings.
15 new listings on the MLS, and a record 5 that are standouts:
Superb Home on Quiet Street Priced to Sell This 5 bedroom home has a separate guest house, 7 car garage (including 5 cars air-conditioned with a workshop), huge master suite with gym, office, and giant closet. Flat acre lot with mature landscaping, plenty of room for entertaining, a pristine pool -- all located on a quiet street. This is a SERIOUS VALUE with about 5,500 square feet for just over $1.6 million.
Exceptional Interior Design
Uncommon attention to detail in the interior design in this Camelback Country Estates Home. I must imagine the replacement cost far exceeds the asking price just under $2.6 million.
New Build - Pick Your Finishes
Located near Scottsdale & Cheney, just over 6,000 square feet. This home was designed by renowned architect Bing Hu. I hired Bing to design 3 homes, and would be delighted to work with him again. Please call me for some insights about this property and the building process. Offered at $2.9 million.
Estate on Large Lot
Over 19,000 square feet on almost 3 acres, this is a grand estate with a very high level of finish. 8 car garage, 1,000 sq ft guest house, dramatic pool, exquisite landscaping, and too many other things to write about. If you're in the market for a large, impressive estate this is one of the best new listings I've seen in some time. Offered at just under $9 million. --> Click Here for Pictures or to Schedule a Showing
Lock and Leave Contemporary Remodel
Located in Colonia Miramonte near the Camelback Inn, this 3 bedroom home is perfect for those who want top quality but don't need a large home. Very tastefully done with 8" hardwood floor, Carrera marble countertops, and custom cabinets. Offered at $1.3 million.
To see: - Unlisted "private sale" properties not on the MLS, please click here.
- This week's new MLS listings please click here.
- Everything on the MLS in Paradise Valley please click here.
That's all for this week, I'll be back in next week with all the latest in Paradise Valley real estate.
Sincerely,
Alex Goldstein (480) 442-7325
p.s. Why keep your money in savings when it can earn 6-15% per year? Learn about cash flowing real estate here.
Disclaimer: All information is believed to be accurate, but should be verified by the reader and is provided without warranty. Please consult appropriate financial, tax, legal, and real estate advisors before making decisions. This email is not intended to solicit people who are represented by another agent.
(c) 2016 Alex Goldstein PLLC
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