Subject: Paradise Valley Weekly - 10 New Listings, Brexit Impact on US Housing

Paradise Valley Weekly
318th Edition - July 2, 2016
The vote by the UK to leave the EU continues to benefit US real estate. US bonds, and US real estate, look more appealing to global investors as a safe haven.

As longtime readers know, I've been concerned that we are nearing the end of the cycle in many types of commercial real estate (most notably, luxury apartments). I've also been concerned about low bond yields wiping out investors in supposedly safe bonds.

These concerns haven't changed, but the timeline for any "day of reckoning" is looking farther out. It won't be until we see a meaningful increase in interest rates that these things come to pass. Now with the EU chaos, we've seen lower rates.

It will take two years to sort the Brexit, and that may be just the beginning: rumblings about France leaving the EU have started. If France were to leave the EU, that would be the nail in the coffin of the EU. It would make the US seem even more desirable as a place to invest.

Thus, unless and until there's perceived stability in the EU, the USA will continue reaping substantial benefits.

Take advantage of this opportunity, and make sure you've refinanced any real estate you own. Whether residential or commercial, the opportunities are quite exceptional.

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Exquisite attention to detail in this contemporary 5 bedroom home. Unlike most mountaintop homes, it boasts plenty of parking with a 4 car garage and a pad for guest parking.
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Closings
Sales increased from $7.4 million the prior week to $12.5 million.

Closings were dominated by old homes, yet again -- an average age of 44 years. This made the sales figures quite a bit more impressive, with an average sale price just under $1.6 million and $363 per square foot. Very strong numbers for an older mix of properties, even if they are remodeled.

Listings
This week brings 10 new listings, from $925k to $2.4 million.

Two standouts this week:

Remodel Value
This 4 bedroom home on 1.16 acres is well priced at $925k. There are plenty of homes worth 2-3x this price in the area, so plenty of upside for a remodel.

Spacious Home Under $300 psf
5 bedroom home on approximately 1/2 acre in a gated community for just under $1.8 million. That works out to $283 per square foot -- please call me quickly at (480) 442-7325 to see this before it is gone.

For access to the latest unlisted "private sale" properties not on the MLS, please click here.

To see this week's new MLS 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.

Wishing you and yours a very happy Independence Day holiday :) 

Sincerely,
Alex Goldstein
(480) 442-7325


p.s. Why keep your money in savings when it can earn 6-15% per year? Learn about cash flowing real estate here.











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.


 


































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