This week brings a double issue of the Paradise Valley MarketWatch newsletter, as it wasn't published the previous week. With temperatures consistently in the 105-111 zone, and kids going back to school, the number of closings has slowed, albeit not as much as one might expect.
In national real estate news, the Wall Street Journal reports that over half of all homes purchased in 2013 were bought for cash. That's double the percentage it was 7 years ago. This is a critical difference between the market today and the market of 7 years ago -- it was debt that burst the bubble, and less debt means less possibility of distress.
President Obama spent a half hour answering questions about housing, submitted to Zillow by Americans from numerous states. To my eye, most of the questions were selected to be softballs, so there was no great revelation here. Nevertheless, in one hour you can get a complete summary of the administration's position on a wide range of policies that affect
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Closings
Sales of fixer uppers dominated the market over the past 2 weeks, with the average year of construction of 1976. Despite this age, the prices were healthy at $284 per square foot and an average price of just over $1.3 million. Total sales volume was over $13.3 million.
New Listings
12 new listings, 3 of which are already under contract.
Here are some worth braving the heat to see:
Stunning Trophy Home
This exceptional home sits on an acre with a bird's eye view of Camelback Mountain and across the valley. The special features of this home include a 60 foot great room with a motorized wall of floor to ceiling glass, a 1400 bottle wine cellar, home theater, wood paneled library, guest quarters, and more. This home is offered at $6.2 million.
Quality Family Home Well Priced
This 5 bedroom home sits on a flat corner lot, and is very well suited to families. The finishes are good quality, and the home represents solid value at the asking price of $315 per square foot / $1.75 million.
Arcadia Family Home
Crown moldings, wood floors, and a beautifully finished yard perfect for entertaining - this home oozes charm. This is perfect for the kids to run around, and for having friends over for BBQ's. Located on Exeter in the heart of Arcadia with lovely finishes, it's worth a look if you're in the market for a family home. Offered at $1.65 million.
To see all of this week's listings in PV, please click here.To see everything on the MLS in Paradise Valleyplease click here.That's all for this week, I'll be back next week with allthe latest in Paradise Valley real estate.Regards,
Alex
SearchParadiseValleyProperties.com
(480) 442-7325p.s. Would you like to know about off MLS homes?
(c) 2013 Alex Goldstein PLLC
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