An off MLS opportunity will soon be available exclusively to readers of this newsletter and my clients. Specifically, it's a custom Southwest style home with incredible views, and is perfect for families. The home has never been on market since it was built by the original owner who remains in it to this day.
The seller has no debt on the property and is willing to entertain seller financing. Given that jumbo lending standards are still tight, and rates are likely to rise in the coming year, this is a superb opportunity for someone who has been sitting on the sidelines.
The home is approximately 6,000 square feet with an asking price just over $2 million. It has a pool, and offers superb privacy and views. This home is ideally suited for families. The most compelling aspect of the home is that it's hillside with views, but also has a large flat yard for entertaining and for kids to play -- this is a very rare combination.
If you would like to know more, please reply to this email or call me at (480) 442-7325.
*** In the first 2 months of 2014, 8 homes over $3 million sold in Paradise Valley vs. only 3 homes at the same price level in the first 2 months of 2013.
2013 was a strong year in our market, so this year over year increase is especially compelling.
Bottom line: demand is back at the very high end. If you've been waiting to buy in this price range, you may be surprised by the competition for properties and the resilience of sellers.
***
Closings
Single family home closings in Paradise Valley last week increased to $16.8 million from $12.2 million the prior week.
Average sales price was just under $1.9 million and $345 per square foot. These are quite healthy numbers given the average year of construction of 1989. The average days on market was 270.
The conclusion to be drawn from the trend of older homes and more days on market fetching higher prices is that inventory remains tight, and people are buying what they can get. No matter what happens over the next few years, it's inconceivable there will be a lot of new inventory in Paradise Valley. As the saying goes, get while the getting is good...
New Listings
This week's 17 new listings range from $650k to $3.8 million.
Nothing this week qualifies as a "must see" in my book, however there are a handful of quality family homes that would be worth touring.
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
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