Luxury Homes Weekly 359th Edition - May 13, 2017 |
| | It has finally happened: residential real estate sales volume in Maricopa County eclipsed the previous peak. We're now at the highest sales volume in 11 years, with Q1 sales over $5 billion.
The biggest difference between then and now is the pricing. We still haven't returned to the lofty valuations of 11 years ago, but we are seeing broad demand.
Sales volume in Q1 is up a whopping 18.1% over last year. However... Inventory is down slightly over the same period (less than 1%).
In other words, inventory growth is about 19% under where it needs to be just to keep balance from the prior year. With demand outstripping supply so dramatically, it's fair to say we'll see prices continue to rise over the next year, on average.
The luxury market is different, with the supply and demand equation favoring buyers in the upper tiers of the market. After all, the average sale price in Q1 was $321k, and the stiffest competition for homes will remain in the sub $500k segment. |
| | OFF MLS -- best lot in Paradise Valley under $1 million. Hillside with spectacular Camelback Mountain views.
Unlike most hillside properties with dramatic views, this one will NOT require expensive site preparation. And the owner has soil study, site survey, and architectural plans for a soft contemporary home -- so not only are you getting a great price, you can actually finish your new home a lot faster than on a lot where you're starting from scratch.
If you are interested, please reply to this email with the best phone number to reach you today.
Would you like to be notified immediately about off MLS listings? Click here |
| | Best Homes on Market
The best of the best in their respective categories, selected for quality and/or value.
Paradise Valley 6 bedroom Santa Barbara style home with 8 car garage. Remodeled home in prime neighborhood on oversized lot. Loaded with amenities: Crestron home automation, Lutron lighting, Rysso Peters cabinets, Viking appliances, and more. This gem, located on a quiet cul de sac, is offered at $3.5 million.
Arcadia/Biltmore
Scottsdale Soft contemporary on acre+ lot in Central Scottsdale near Paradise Valley. Awesome backyard with large pool feels like a resort. Offered at $2.4 million.
Deal of the Week $252 per square foot for remodeled 5 bedroom home in the Cactus Corridor. High ceilings, pool, and the remodel was more than just cosmetic. A lot of house for under $1.3 million. |
| | Active Buyer Needs
Perhaps you've been thinking of selling your home, or know someone who is?
My clients are actively looking right now: - Hillside Contemporary Home with guest quarters in Paradise Valley or Biltmore. City views, high level of finish, and preferably in gated community or privately gated property - up to $4 million.
- Move-in ready Paradise Valley home under $1.6 million. Views would be preferred, willing to do very minor remodeling but nothing major.
- Teardown or remodel in Paradise Valley, lush mature landscaping is top priority, under $1 million.
If you know of anything, please reply to this email or call my direct line at (480) 442-7325.
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There are many thousands of listings on LuxeAZ.com. To help you find what you're looking for quickly: Please note that listings are sorted from newest to oldest. So you may bookmark these pages and return at any time to see the very latest listings. |
| | Thank you for reading this newsletter. Your comments and suggestions are always appreciated, and will be used to improve future editions.
I'll be back in next week with all the latest news and analysis.
Sincerely,
Alex
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| | | The bestselling book about real estate that's gotten rave reviews from readers all across the country. Topics include:- Selling your home for top dollar
- Demystifying housing statistics
- Critical elements of successful negotiating
- Closing and escrow explained in Plain English
- Financing, with or without a bank
Would you like a paperback copy with my compliments? Just reply to this email with your address and phone number. If you prefer Kindle, you may download from Amazon here. |
| | | A frank examination of real estate and business by Alex Goldstein and Brian Tracy.
Negotiating in good and bad markets, insider secrets from the real estate industry, and much more.
Would you like a paperback copy with my compliments?
Just reply to this email with your address and phone number.
If you prefer Kindle, you may download from Amazon here.
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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.
(c) 2017 Alex Goldstein PLLC
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