Subject: Paradise Valley Weekly - 11 New Listings, Luxury Home Sales Up Across US, Real Estate Love Letters?

Before we get to Paradise Valley real estate, there were several important national news stories this week:

1. Luxury home sales are up across the USA. Even in places where the middle of the road home market is slowing down, luxury is moving along at a brisk pace. Details on why this is happening can be found here.

2. Las Vegas, a market that went through a very similar cycle to Arizona, is also experiencing record luxury home sales. The full story from the Wall Street Journal is here.

3. Some of the most creative mortgage lending is now happening at credit unions. If you don't have a credit union membership, it may be worth establishing one now so they know you well by the time you apply for a mortgage. The New York Times covered the issue here.

4. In a sign of the times, buyers in competitive markets have resorted to writing "real estate love letters" to the sellers of homes. Sounds crazy, but it's a great example of how non-monetary items can make a big difference in negotiations. This is something I covered at length in my book, and would be happy to share with interested readers. For the full story from Bloomberg, please click here.

Closings
Closings remain solid in Paradise Valley last week at $12.2 million. 

Average sales price was just under $1.4 million and $315 per square foot. Prices were dragged down a bit by a larger than usual share of teardowns/remodels sold last week. The weighted average year of construction was 1992. 

New Listings
This week's 11 new listings range from $1 million to $4.5 million. Happily, there are more than the usual number that make the cut this week for my recommendation:

Privately Gated Contemporary with Views
If you have been looking for a contemporary home, you ought to go see this immediately. It's over 6,800 square feet of very tastefully designed interior space, on a 1.26 acre privately gated lot. The views are exceptional. The only downside is it backs to Tatum, but the sellers have priced it very well to account for that at $2.75 million. Note they have a high row of hedges that block Tatum while not obscuring the view - it's a very interesting home.
--> Click Here for Report

Exquisite Southwestern Home
Built originally in 1948, this one-of-kind estate has been restored to the highest standards, offering the epitome of Arizona lifestyle. 2 fully self contained guest houses, one w/separate steam & hot stone sauna. The exterior affords a 5 star resort atmosphere w/pool, spa, 4 water features, 2 fire pits, outdoor fireplace, covered built in barbecue & a sports complex including basketball/tennis court, pitch/putt greens , in-ground trampoline, and custom tree house. A wonderful home offered at $2.5 million.

Sanctuary Resort Home
This home sitting above Sanctuary resort offers income potential as it is part of the hotel rental pool. Or you can keep it all to yourself and enjoy the stunning views, whichever you prefer. This unique home is offered at $2.2 million.
--> Click Here for Report

To see all of this week's new 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.

Thank you,
Alex
SearchParadiseValleyProperties.com
iParadiseValley.com
(480) 442-7325


p.s. My book on real estate, co-authored by Brian Tracy, can be found on Amazon here.


































(c) 2014 Alex Goldstein PLLC
Realty One Group, 7975 N Hayden Road #101, Scottsdale, AZ 85258, United States
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