Luxury Homes Weekly 347th Edition - Feb 18, 2017 |
| In the last real estate downturn when many were wiped out, Peter Wells and Marcel Arsenault were thriving. They had timed the cycle brilliantly, selling 85% of their properties in 2005. With lots of dry powder, their company Real Capital Solutions made tremendous deals acquiring and building from the bottom of the cycle through the present.
Given their flawless execution in the last cycle, and long term track record of several decades, I was eager to read this article in Inc magazine about their current plans.
Real Capital Solutions has doubled their budget for acquisitions in 2017. They see great opportunities in housing, and offices. Their method of managing the company is also quite noteworthy. It's an interesting read. |
| | | The way banks report mortgage interest to the IRS has changed. While a new tax form isn't usually newsworthy, this change could hit people in the wallet.
Specifically, there are rules about what type of mortgage interest is deductible. The old form allowed for more ambiguity, and some portion of debt that shouldn't have been deducted was being deducted anyway.
The Washington Post has useful coverage of the change, as well as clarification about what is, and is not, deductible.
If you have refinanced your mortgage, or taken out a home equity loan, this will be especially important to understand. |
| | | Intel is resuming construction on a $7 billion factory in Arizona. It's another positive announcement for our state, with Apple, McKesson, State Farm, and several other household names having also made huge commitments here recently. |
| | Best Homes on Market
The best of the best in their respective categories, selected for quality and/or value.
Paradise Valley Just completed dramatic contemporary home with 5 bedrooms, high level finishes, and a guest house. Offered at just under $4.5 million.
Arcadia/Biltmore Views of Camelback Mountain from this tastefully designed home on Lafayette built in 2002. Gourmet kitchen, hardwood floors, lush landscaping, and more. Offered at just under $2.2 million.
Scottsdale Featured in Phoenix Home & Garden, this Desert Mountain home offers unique architecture and impeccable finishes. Approximately 5,000 square feet for under $2 million, a value given the level of quality.
--> Click Here for Pictures or to Schedule a Showing
Deals of the Week Short sale in DC Ranch with very high level of finish. This home is comparable in quality and views to much more expensive homes in Silverleaf. Venetian plaster, hardwood floors, canterra columns, the list goes on. They're asking $2.7 million and I suspect we can get the bank to accept considerably less. |
| | 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: - Formal Mediterranean Custom Home in Paradise Valley, approximately 7-8,000 square feet with views, up to $5 million.
- Contemporary Home with 3+ bedrooms in Paradise Valley, priced under $2 million. High level of finish, views, and preferably in gated community or privately gated property.
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
Paradise Valley
74 New Listings
22 Homes Sold
Average Sale: $2.2 million - $378 per square foot - 124 days on market
Arcadia/Biltmore
46 New Listings
13 Homes Sold
Average Sale: $1.6 million - $389 per square foot - 111 days on market
Scottsdale
208 New Listings
65 Homes Sold
Average Sale: $1.5 million - $333 per square foot - 157 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.
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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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