Subject: Paradise Valley MarketWatch - 17 New Listings, Property Taxes, and Shadow Inventory

Good morning Friend,

I hope you had a terrific 4th of July holiday.
This week brings a double edition as we didn't
publish the newsletter over the holiday. 

The market didn't slow down with 22 closings
in the past 2 weeks, outnumbering the 17 new
listings to replace them. So, inventory continues
to shrink; details on all new listings and closings
are below.

The Arizona Republic has done an investigation
of property taxes, and it serves as an excellent
reminder to pay careful attention to the valuation
notices sent out by Maricopa County.  They
found that when values fell 49% over a 5 year
period, taxes only fell 16%. That's an incredible
gap resulting in many thousands of homeowners
overpaying.  For full coverage, click here.

According to CoreLogic, shadow inventory in the
US is down another 18% in the past year, and
down 34% from the 2010 peak.  Furthermore,
mortgage delinquencies are at their lowest level
since December 2008. For more details on this
matter, you may read the article here.

Closings
The past 2 weeks saw over $33.5 million in
closed sales in Paradise Valley.  Price per square
foot averaged $303 with a broad mix of properties
including many fixer uppers.  The average sale
price was just over $1.5 million, and there were
22 houses sold.

New Listings
There were 17 new listings in the past 2 weeks,
and 1/4 of them are already under contract. 

My recommendations for quality and/or value:

Superb Golf Course and Mountain Views
This 5,500 square foot home was extensively
remodeled in 2009, and has a beautiful kitchen,
tastefully designed bathrooms, and an excellent
yard looking out on the golf course and
mountains.  A solid value at just under $1.8 million.

Exceptional Attention to Detail
The attention to detail shows throughout this
home's exquisite finishes, the home is 100%
ready for a family to move in without having
to change anything.  The home has a private
gate leading to the 5 air conditioned garage
bays, well manicured grounds, sport court,
pool, wine cellar, guest house and more.
Offered at just under $6 million.

Mansion on Large Lot in Central Location
Over 14,400 square feet, this mansion has too
many amenities to list.  The highights are
two casitas, a large guest house, 8 car garage,
Italian marble staircase, and a lot just under
3.5 acres near Lincoln & Palo Cristi.  Offered
at $16 million. 
-> Quick Report
-> Detailed Report

Strong Value in Excellent Neighborhood
This 3 bedroom home near McDonald & Invergordon
sits in a large lot with pool and sport court.  The
interior is in good shape, and there is a lot of value
here for $795k.

To see all of this week's listings, please click here.

To see everything on the MLS in Paradise Valley
please click here.

That's all for this week, I'll be back next week with all
the latest in Paradise Valley real estate.

Regards,
Alex
SearchParadiseValleyProperties.com
(480) 442-7325

p.s. Would you like immediate notification of homes
that meet your needs, including those that never
hit the MLS? It's easy please click here.




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