Luxury Homes Weekly 342nd Edition - Jan 14, 2017 |
| Without question, the most consistently difficult deals are homes that are either half remodeled or partially remodeled. The seller is focused on the money they've spent on the home, but the buyer is focused on the money they will have to spend after closing.
For this reason, it's important for homeowners to keep up with design trends. You might take a loss on the the money you put into a remodel if it doesn't meet with buyer's expectations. The buyers will be looking through the lens of "gotta change this, gotta change that" while you're counting the dollars paid to contractors. It's a bad situation for all parties involved.
If there's one trend that we've seen take root in Arizona, it's been the shift from dark to light color palettes. Dark cherry cabinets and dark green countertops of years past have given way to white cabinets, contrasting black countertops, and butcher block islands. Heavy tile and dark woods have given way for lighter shades of oak, and narrow planks have made way for wide planks.
Of course these trends don't work in every style of home, and we'll continue to see, for example, Spanish and Territorial homes using a more traditional palette. However, for Ranch homes, a dark palette is going to depress the price and increase the amount of time it takes to sell.
So what's next in home design? This week brings two helpful articles on major trends happening around the country.
The Wall Street Journal's Mansion Global cites more natural materials and minimalism, with judicious use of metals and dimensional textures.
This article from Yahoo confirms that white cabinets will continue to reign supreme in 2017, but granite countertops are gradually losing ground to quartz and butcher block.
If you're considering a remodel, I've found a terrific designer I'd be happy to introduce. She's done beautiful work, and at a very reasonable price. One of the many vendors I keep in my "little black book" to make life easier for clients -- and for myself, I'm going to hire her for my next remodel ;) |
| | | Buyers have received a reprieve on mortgage rates since the Fed's rate hike. The 30 year fixed stood at 4.12% this week down from 4.2% the week before.
The Fed has made clear the trend is up, so take advantage of these rates while you can. Buyers should consider locking their rates and selecting a property, and homeowners who haven't refinanced in recent years may want to call their lenders.
I'm happy to introduce you to lenders who have a track record of doing well for my clients. I receive no fee for these introductions, I just know how frustrating it is to get yanked around by a lender. Fortunately, I've got a couple of great lenders with proven track records in my Rolodex. Just reply to this email or give me a ring, and I'll connect you with the lender who may be most appropriate for your circumstances. |
| | | Did you know that Zillow and other online valuations are routinely inaccurate by as much as 42%?
- New York City 19.9%
- Somerset County, Maryland 42%
- San Francisco 11.6%
- Rural California Counties 26%
For a more accurate valuation of your home, or a home you may be wanting to purchase, simply reply to this email with the address.
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| | Best Homes on Market
The best of the best in their respective categories, selected for quality and/or value.
Paradise Valley Centrally located estate with all the right finishes. Built in 2011, this home has over 8,100 square feet of interior space including 6 bedrooms and a guest house. Offered at $3.45 million.
Arcadia/Biltmore Authentic mid-century modern home totally remodeled with excellent quality finishes. This is quite a special home, offered at under $1 million.
Scottsdale Ultra modern condo in Downtown Scottsdale is actually two condos combined into one, providing 3 bedrooms and 3.5 baths. This smart home has high level finishes and dramatic views. Offered at $1.55 million.
--> Click Here for Pictures or to Schedule a Showing
Deal of the Week 4,700 square foot home in Central Scottsdale for under $550k! This short sale had a price reduction and is quite a bargain. Reply to this email or call me at (480) 442-7325 for details. |
| | 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: - Mid-Century Modern Under $1 million. Clients are looking for something authentic, they don't want a remodeled home. Block construction is preferable, the more original finishes the better. Flexible on location: central Scottsdale, Biltmore, PV or near north Phoenix - just no locations too far north or east from PV
- Quality 4+ bedroom home in Paradise Valley priced to sell. Light remodeling is ok but nothing in need of a huge remodel. Flexible on style, just something cozy with a good layout under $1.5 million.
If you know of anything, please reply to this email or call my direct line at (480) 442-7325.
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| | Home Inventory
Interesting to note that in the past 30 days, Arcadia/Biltmore prices per square foot eclipsed Paradise Valley. Although, the average selling price in PV remains higher.
Paradise Valley
55 New Listings
25 Homes Sold
Average Sale: $1.7 million - $373 per square foot - 200 days on market
Arcadia/Biltmore
33 New Listings
16 Homes Sold
Average Sale: $1.5 million - $384 per square foot - 147 days on market
Scottsdale
139 New Listings
66 Homes Sold
Average Sale: $1.5 million - $338 per square foot - 184 days on market
Please note the data above covers the past 30 days of luxury homes, defined as follows: any single-family home in Paradise Valley, and all residences in Scottsdale, Arcadia, and Biltmore listed over $950k. The data above covers the last 30 days.
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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 return to these pages 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) 2016 Alex Goldstein PLLC
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