Luxury Homes Weekly 352nd Edition - Mar 25, 2017 |
| Flipping homes is a booming business, and it serves a massive need. The housing stock in Arizona hasn't grown enough to support demand, and the existing housing stock is old. So, remodeling a home and turning it right around is a valuable service to the community.
However, not all flippers are created equal.
Many homebuyers are entranced by trendy finishes, ignoring structural concerns. In turn, many flippers are keeping old electricity, plumbing, and roofing - but making the interiors look sparkling.
When buying a home that has been recently remodeled, it's worth digging into what's happened beneath the surface. There's a massive difference between a home that's been remodeled down to the studs, versus one with new cabinets, countertops, and flooring.
This article from CNBC details some of the nightmare stories happening in the country for buyers of flipped homes. I always insist on a thorough inspection for all of my clients, and I do mean THOROUGH...
If the inspection report doesn't concern you when you first read it, then you need probably need a new inspection! Even with new construction, there is virtually always "something" that's important to at least know about, if not remedy immediately. |
| | Best Homes on Market
The best of the best in their respective categories, selected for quality and/or value.
Paradise Valley Totally remodeled 5 bedroom home on Camelback Golf Course. Pecan hardwood floors, bright open kitchen, over 5,100 square feet for under under $2.2 million.
Arcadia/Biltmore Corner lot on Lafayette, this 4 bedroom home is move-in ready and also offers plenty of room to expand. Offered at $1.3 million.
Scottsdale Santa Barbara style home in Troon built in 2013. Open floor plan ideal for entertaining, looks out on dramatic boulders and pristine desert. Offered at just under $1.6 million.
Deal of the Week Bank foreclosure in McCormick Ranch on over half an acre. 4 bedrooms, vaulted ceilings, some upgrades but home could use additional updating. Offered at $689k.
COMING SOON Spectacular 7 bedroom home (configured as 5 bedrooms plus office and gym) with tasteful contemporary finishes.
Dream kitchen, wine cellar, high ceilings, and more closet space than you've ever seen (even the guest bedrooms).
Massive open spaces for indoor and outdoor entertaining, deep covered patios, theater grade surround sound, and mature, lush landscaping.
All for under $2.4 million!
Not on MLS, available exclusively here. This is so new we don't even have pictures. If you're interested, please reply for photos and details as they become available. |
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Active Buyer Needs
Perhaps you've been thinking of selling your home, or know someone who is?
Here's what some of my clients are looking for right now: - Massive Estate Property in Paradise Valley 15,000+ square feet with highest level finishes, and well-suited for entertaining.
- Medium Size Contemporary Home in Scottsdale or Paradise Valley, looking for highest quality finishes (e.g. Bulthaup kitchen) in the 3,000 - 3,500 square foot range, priced under $1.5 million.
- Formal Mediterranean Custom Home in Paradise Valley, approximately 7-8,000 square feet with views, up to $5 million. New construction strongly preferred.
- Hillside Contemporary Home with guest quarters in Paradise Valley or Biltmore. City views, high level of finish, and preferably in gated community or privately gated property - up to $4 million.
If you know of anything, please reply to this email or call my direct line at (480) 442-7325.
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| | Commercial & Investment Properties
I continue to believe that retail property prices have not taken into account the massive changes that have befallen the sector. The so-called safe havens like Walgreens and CVS are not truly safe, they just have more time to adjust than other retailers.
10 years from now people will still need a place to live, they'll still go to restaurants, and they'll still need health care. Will they need to go to the store to buy their pharmaceuticals or groceries? I certainly wouldn't make that bet at today's aggressively low cap rates.
If you're looking for investment property, or coming out of a 1031, let's grab a coffee and strategize. There are a lot of landmines that most commercial real estate people are ignoring.
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There are many thousands of listings on LuxeAZ.com. To help you find what you're looking for quickly: Please note that listings are sorted from newest to oldest. So you may bookmark these pages and return at any time to see the very latest listings. |
| | Thank you for reading this newsletter. Your comments and suggestions are always appreciated, and will be used to improve future editions.
I'll be back in next week with all the latest news and analysis.
Sincerely,
Alex
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| | | The bestselling book about real estate that's gotten rave reviews from readers all across the country. Topics include:- Selling your home for top dollar
- Demystifying housing statistics
- Critical elements of successful negotiating
- Closing and escrow explained in Plain English
- Financing, with or without a bank
Would you like a paperback copy with my compliments? Just reply to this email with your address and phone number. If you prefer Kindle, you may download from Amazon here. |
| | | A frank examination of real estate and business by Alex Goldstein and Brian Tracy.
Negotiating in good and bad markets, insider secrets from the real estate industry, and much more.
Would you like a paperback copy with my compliments?
Just reply to this email with your address and phone number.
If you prefer Kindle, you may download from Amazon here.
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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) 2017 Alex Goldstein PLLC
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