Subject: The Supply/Demand Imbalance, Luxury Home Auctions, and 14 New Listings - Paradise Valley Weekly

Paradise Valley Weekly
326th Edition - Sep 24, 2016
We live in an era that is unprecedented in so many ways. Following up on last week's chart of long term housing starts (if you missed it, we are at levels typical of the bottom of a recession), there's this article in Bloomberg about why housing starts will soar.

Unfortunately, we are so far behind the curve that even if housing starts grow dramatically, we can't overcome the supply deficit for many years.

To be clear, that's the national situation. Every market is different, and luxury is not the same as the lower tiers of the market. 

But when the macro trends are so strong, it's important to keep them in mind when making decisions. 

These trends bode especially well for investment properties that are affordable for average income households. Whether you buy multi-family or single-family homes, it's reasonable to expect strong rents for many years to come.

To investigate income property, please click here.

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Most people think auctions are for unusual or distressed properties, and that they result in lower prices than fair market value.

It precludes people from considering an auction in the sale process, when in reality luxury auctions can get fair market value. Importantly, they end on a specific date so the sale isn't open-ended.

Sometimes, auctions result in prices well over fair market value.

Click here for Bloomberg's recent article on luxury home auctions.

If you'd like to investigate selling your home at auction, or buying, please reply to this email or call me at (480) 442-7325.

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Santa Barbara style home at an incredible price, please click here for the details.
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Closings
After two slow weeks, closing roared back with $15.5 million in volume. The average price was over $1.7 million and $366 per square foot -- for homes that averaged 25 years of age.

Listings
Two of this week's best new listings are already under contract, a reminder to review new listings daily if you're serious about buying your next home.

If you aren't receiving a daily update, please reply back with your needs or click here.

Regrettably, there's only one standout among the remaining listings:

Large Contemporary Home
This 8,900 square foot home was completed just last year. Custom finishes throughout, and a very dramatic light color palette. This would be an ideal home to showcase a contemporary art collection. 5 bedrooms, 4 car garage, flat acre lot. Offered at $3.65 million.

To see:
  • Unlisted "private sale" properties not on the MLS, please click here.

  • This week's new MLS listings please click here.

  • Everything on the MLS in Paradise Valley please click here.

That's all for this week, I'll be back in next week with all the latest in Paradise Valley real estate.

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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