Hi Friend, hope you had a terrific Thanksgiving. There was no newsletter last week, so this week will cover the last 2 weeks of activity in Paradise Valley. Those of you who have signed up for alerts should have received them in the absence of the newsletter. If you are not receiving alerts custom tailored to your preferences, please click here.
There are several noteworthy items to report before we get to the latest listings and closings:
1. A seller of a remodeled home in a guard gated community will consider seller financing. This isn't being advertised, and the seller is motivated to complete a sale before year end. So, if creative financing is of interest to you, please contact me for details on this "under the radar" opportunity.
2. The activity level in January will likely be extraordinary. There's always a seasonal increase in transactions that time of year, and with the strength we've seen in recent months in Paradise Valley, expect the competition for properties to be intense after the New Year. If you're buying, and can make an effort to act before the New Year, it's to your advantage. If you're planning to sell, be sure to get your home ready for January to maximize exposure.
3. If you've been shopping for a luxury condo, you may have noticed some very expensive HOA monthly maintenance fees. The Wall Street Journal has interesting coverage of this topic, to read the article please click here.
4. The bar for high end appliances keeps getting raised, and now it's gone to an almost unfathomable extreme: $20,000 espresso makers in private residences. This is bound to be part of the next wave of "must have" gadgets in multi-million dollar homes. For details on these machines and who is purchasing them, please click here.
Closings
The last 2 weeks saw over $14.5 million in closings, with an average price of just over $1.6 million. Price per square foot was strong at $338 for homes with a weighted average year of construction of 1986 -- thus continuing the trend of buyers acquiring older properties, and paying more for the privilege.
New Listings
There are 19 new listings, ranging from $800k to $4.2 million.
Here are my recommendations for quality and/or value this week:
Bargain Turn-Key Starter HomeThere aren't many homes under $1 million worth writing about, this is under $800k and looks ready for move in with no work. That's a strong value proposition in today's market. It's smaller at 2,700 square feet but has 4 bedrooms ample for a family with young children. Given the price, I expect this to sell quickly so if you're interested please call me at (480) 442-7325 to arrange a showing. -> Quick Report
-> Detailed Report
Small Home with Big Views I am often asked to find a high quality house in Paradise Valley that's a smaller, more manageable size -- and it's a challenge to find. This home is the rare combination of location, views, and fully remodeled under 3,000 square feet. This is an ideal home for snowbirds who would like dramatic views and excellent finishes without the maintenance of a larger home. Offered at under $1.45 million
Formal Mediterranean Estate Located in a prime area southwest of Invergordon and Doubletree, this home offers very dramatic curb appeal. It's a formal Mediterranean style estate on a flat lot that's almost 58,000 square feet. The home was built in 1996 and is over 7,100 square feet. Offered at $2.8 million
To see all of this week's listings in PV, 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 iParadiseValley.com
(480) 442-7325p.s. My upcoming book with Brian Tracy will be released soon. To get the first chapter free before it hits the bookstores, along with updates and other bonuses, please click here.
(c) 2013 Alex Goldstein PLLC
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