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Scottsdale Ranch Real Estate
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Scottsdale Ranch’sHot Real Estate Listings
Real Estate InvestingA Sound Strategy For Your Portfolio?
Saddle Up!BLT Steak Goes Cowboy
Admiring & Acquiring Specialty Vehicles
A Passion For
January 2010
If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Each issue we will report on the previous period’s activity. This issue reflects activity for October and November of 2009.• There are currently 76 Active Listings in Scottsdale Ranch – up from 65 in last month’s report and 68 in the previous report.• For October/November the average square footage price for Active Listings was $230.89. This is noteworthy because the last four period reports were $248.88, $244.32, $240.71 and $236.59.• The average square footage price for Closed Sales for October/November was $182.18 – another noteworthy figure when you look at the last four reports of $193.90, $217.43, $202.51 and $175.91.
In the October/November period we had 6 Closed Sales and 18 Pending /AWC (Active With Contingencies – means it is under contract but there are contingencies with the contract that have not been taken care of yet and the property is still being marketed for backup offers). For the past four periods we have reported between 20-25 in the Closed/Pending category. This category has been amazingly steady through the year. Here is some insight into the other figures . . . actual sale price by square foot amount has gone down throughout the year as the inventory slowly decreased. For the most part, the sold properties were those that either listed at a competitive price or eventually dropped their price to one the market was willing to pay. Sales have been steady because once properties reached the price point of the actual market (the price buyers were willing to pay), they were gobbled up. There probably could have been more sales except many of the new listings that came on the market in the past few months have been very aggressively priced. This is not reading the market properly. As we close in on year-end, we’re seeing significant price reductions in listing prices. If this had been done earlier, there would have been more sales. Now, many of these reductions are just “chasing the market” – lowering their price but still staying above the actual market. We think “year-end” mentality will be reflected in our next report for the last month of the year and there may even be a more cautious approach by buyers to start the year. As always, if you need a market analysis or help in buying or selling real estate, give us a call. For over 23 years we have helped our clients achieve their real estate goals in residential, land, commercial and investment properties.
Scottsdale Ranch Market Report
PENDING SALESAddress Sq. Ft. / Bed / Bath Price/Sq. Ft. List Price9708 E. Via Linda #1311 1038 / 2 / 2 $173 $179,99910080 E. Mountain View Lake Dr. #323 1152 / 2 / 2 $234 $269,9009463 N. 105th Pl. 1610 / 3 / 2 $174 $279,9009803 N. 100th Pl. 1989 / 2 / 2 $163 $325,00010591 E. Mission Ln. 1898 / 3 / 2 $171 $325,00010545 E. Bella Vista Dr. 2106 / 4 / 2 $157 $330,00010545 E. Mission Ln. 2121 / 4 / 2 $165 $350,00010552 E. Bella Dr. 1900 / 3 / 2 $210 $399,00010431 N. 105th Way 2262 / 3 / 2 $188 $425,00010178 E. San Salvador Dr. 2968 / 4 / 3 $150 $444,9009780 E. Gold Dust Ave. 3079 / 5 / 3.5 $158 $485,1009688 E. Cinnabar Ave. 2354 / 3 / 2 $219 $515,00010266 E. Caron St. 2353 / 4 / 2.5 $223 $525,0009822 E. Doubletree Ranch Rd. 3600 / 4 / 2.5 $166 $599,00010064 E. Turquoise Ave. 1800 / 2 / 2 $347 $625,0009180 N. 106th Pl. 4145 / 5 / 3.5 $151 $624,9009822 E. San Salvador Dr. 3482 / 4 / 2.5 $194 $675,000CLOSED SALESAddress Sq. Ft. / Bed / Bath Price/Sq. Ft. Sold Price COE10080 E. Mtn. View Lake Dr. #D212 1081 / 2 / 2 $167 $180,000 10/12/0910080 E. Mtn. View Lake Dr. #G214 1152 / 2 / 2 $169 $195,000 10/27/0910564 E. Saddlehorn Dr. 2186 / 3 / 3 $128 $280,000 10/01/0910548 E. Mission Ln. 2121 / 4 / 2.5 $215 $455,000 11/12/0910447 N. 107th St. 4760 / 5 / 4 $129 $615,000 11/05/09 10401 N. 100th St. #8 3100 / 4 / 3 $285 $885,000 10/29/09
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
REAL ESTATE ACTIVITY IN
FEATURED PROPERTIES
www.ThePeggyRauchGroup.com
Peggy Rauch602.206.3336
Michael Meinerz602.882.0075
7001 N. Scottsdale Rd. #1020 • Scottsdale, AZ 85253
10390 E. Lakeview Drive #203 Scottsdale, AZ 852582 Bedrooms | 3 Baths 2,578 Sq. Ft.Fabulous Penthouse with outstanding Lake and Mountain Views. Highly upgraded, views from every window - Lakefront on 3 sides - Private Boat Dock - A Steal at $775,000!!!
10193 N. 103rd Street Scottsdale, AZ 852583 Bedrooms | 2 Baths 1,936 Sq, Ft. Beautifully updated with Private Pool and Water Feature, Private Boat Dock, Super Views – Great Buy at $750,000!
Saturday Science ClassArizona Science Center, Jan. 16th602.716.2000 or azscience.orgYou and your child are invited to join the Arizona Science Center each Saturday, as they explore various topics to investigate and experiment with. This specific Saturday the subject is robots! Examine and analyze them and work on building your own robot! It’s sure to get young minds excited about science. Advanced registration is required for this event.
Drive the Dream GalaWestWorld, Jan. 16th 480.922.8212 or childhelpdrivethedream.orgThis magical night is dedicated to a truly worthy cause. Proceeds benefit Childhelp, the leading national organization dedicated to helping victims of child abuse and neglect. A part of the Barrett-Jackson event, the evening unfolds with a cocktail reception, followed by fine dining, a live auction and dancing.
Glendale Glitter and Glow Block PartyDowntown Glendale, Jan. 16th623.930.2299 or glendaleaz.comDon’t miss out on this exciting block party, a finale to the annual Glendale Glitters holiday event. Thousands of people will fill the 12 blocks of historical downtown. More than a dozen musical acts and lively street performers will be entertaining the crowd. The ambiance is festive with the soft glow of lit and tethered hot air balloons, and the 1.5 million twinkling lights as the stunning backdrop.
Sunday A’Fair Scottsdale Civic Center, Jan. 24th480.994.2787or scottsdaleperformingarts.orgPack a picnic basket and sit out on the lawn as you enjoy the many performances by top Valley entertainers. Or, delicious food and beverages from Arcadia Farms will be available to purchase. Many activities for children and families will be set up as well as a free guided tour of the sculptures in the Civic Center. What a great way to spend a sunny winter afternoon.
National Geographic Live: Hunting Dinosaurs Mesa Arts Center, Jan. 27th480.644.6501 or mesaartscenter.comGo back in time with Paul Sereno to the prehistoric era of the dinosaurs! This modern-day Indiana Jones leads expeditions to exotic places such as the Sahara and Tibetan Plateau in search of fossils. You’ll be captivated with many great stories of Sereno’s thrilling life and recent dinosaur discoveries.
Walk ‘n Roll Dog Walk Tempe Town Lake, Jan. 31st480.945.0754 or walknrolldogwalk.orgBring your dog out for a little exercise and fun all in support of their canine friends. The day starts out with a 5K walk and wheelchair roll around Tempe Town Lake. Afterwards participate in the silent auction, play a few games and browse the many vendor booths. Proceeds benefit Power Paws Assistance Dogs.
JANUARY 2010
It may seem like an uncertain time to invest in real estate. However, perhaps our recent market corrections have led to some of the best buying opportunities seen for generations. Local financial advisor Hugh Daniels with Raymond James and Associates, Inc. offers his unbiased opinion regarding acquiring real estate and its role in your overall wealth planning.
Q: How should real estate investment play a part in one’s financial planning and overall portfolio? A: Real estate, like any investment you make, should fall within a well diversified, asset-allocated portfolio. Asset allocation involves dividing an investment portfolio among different asset categories, such as stocks, bonds, cash, and alternative investments, which includes real estate. Determining which mix of assets to hold in your portfolio is different for every individual and will differ due to your personal time horizons and risk tolerance. Real estate has traditionally offered a nice complement to an overall investment strategy.
Q: Has real estate historically been a key component to building wealth? A: Yes, some of the wealthiest individuals in the world, as well as large institutions, foundations,
and trusts, have amassed and maintained their fortunes with real estate as a part of their investment strategy.
Q: Is now a good time to invest in real estate? What if the housing market continues to see price declines in the near future—can buying today still be a good investment? A: It is impossible to predict the bottom of any market. My personal opinion is that if you find a piece of real estate that you like, you feel it is a good value at the current price, and your investment timeline is not short term, then you may want to strongly consider the investment.
Q: What stage of one’s life is the best time to invest in real estate—when you’re young and just starting to build wealth? Nearing retirement? Already retired? A: A decision to enter the real estate market can be appropriate for almost any age investor as long as it is entered with an understanding of your personal end-goal. There is always an opportunity for the smart investor to capitalize on, regardless of market conditions. I believe that in real estate, the key to your success is having a licensed advisor, your Realtor, help you navigate the market and aid you in purchasing with the intention to build wealth.
Q: Is it safer today to invest in real estate or the stock market?A: Trying to measure whether real estate offers a safer environment than the stock market is a very subjective statement and it is going to depend on a number of factors. An individual who plans on only holding an investment for one year versus an investment held for ten years makes a monumental difference. If any lesson can be learned from our most recent market correction, it’s that real estate and the stock market both have risk. An individual must assess this risk before entering either market. If you’re investing in the real estate market, buy something you like and that you plan to hold on to. Time has a tendency to cure all wounds.
For more information on financial planning, contact: Hugh Daniels, Financial Advisor and Wealth Management Specialist, Raymond James and Associates, Inc. [email protected] • 480.365.6889
Cowboy Steak
Featuring BLT Steak5402 E. Lincoln Dr. • Scottsdale
480.905.7979 or bltrestaurants.com
6 rib steaks, 22-26 oz. (long bone, if available)salt and fresh ground black pepper
COWBOY RUB8 oz. each toasted & ground dried pasilla chile and guajillo chile1 cup jalapeno powder1/2 cup smoked paprika 2 cups brown sugar 1/4 cup fine sea salt
COWBOY BUTTER 2 lbs. unsalted butter, softened1/2 cup smoked paprika 1/4 cup Cajun spice2 tbsp. each ground cumin, ground coriander, finely chopped fresh garlic, finely chopped fresh shallot, fresh chopped parsley, fresh chopped thyme leaves, cayenne pepper salt and pepper
Make the Dry Rub In a bowl, mix together all of the dry ingredients. Place the steaks in a roasting pan and rub on all sides with the mixture. Cover and chill at least 24 hours.
Make the Butter In a medium bowl, beat together 1 1/2 lbs. of the butter and all of the other ingredients until blended. Place on a sheet of plastic wrap and roll it into a sausage shape. Store in the refrigerator up to three days or in the freezer up to two weeks. Chef’s Tip: European-style butters have slightly more fat and less water. This gives them a creamier texture and richer flavor.
Cook the Steaks Heat a barbecue grill. Spread the steaks with the remaining 1/2 lb. of butter. Season them on both sides with salt and pepper. Place the steaks on the grill and cook until browned, about three minutes. Turn the steaks and brown on the other side, about three minutes more. Be careful as the chili rub might burn. Transfer the steaks to a cooler part of the grill. Cover and cook for 20 to 25 minutes for medium-rare.
To Serve Place the steaks on a cutting board and cover loosely with foil. Let rest for 10 to 12 minutes. Carve the meat off the bone. Cut the steaks crosswise into 1-inch slices. Arrange the slices on the plates. Cut the butter into slices and arrange on the steaks. Serve immediately.
The Valley goes car crazy in January with the arrival of the Barrett-Jackson Collector Car Event and the Russo & Steele Collector Car Auction (see sidebar for dates and details). But it’s not just us Arizonans that get revved up for these amazing auto shows. People come from all over the world to view—and bid on—these luxury, specialty, and collector cars. And why not? Who doesn’t love a retro roadster from a long-ago era or a shiny souped-up convertible that’s in impeccable condition? And where better to view these spectacular speedsters than in Scottsdale in January. Americans have long had a love of collecting classic and sporty automobiles. Jay Leno is one such guy
who has acquired so many vintage cars he has his own garage and website dedicated to the topic (check out www.jaylenosgarage.com). A sentimental car in the collection is the 1955 Buick Leno slept in while trying to make it as a comic in Los Angeles. He never sold it and still owns his one-time “home on wheels” today. Fellow comedian Jerry Seinfeld, another renowned car collector, is reported to have one of the largest-ever Porsche collections. And he can afford it! Why our fascination with these collector and specialty cars? Surprisingly, it’s not all about how they look and handle when speeding down the road— although that is the attraction for many. Perhaps the real appeal is acquiring a
piece of history—and in doing so, preserving history. “I believe we don’t really own these cars,” Jay Leno once told a reporter for bankrate.com. “We just keep them for the next owners.” Auto auctions, of course, offer their own unique appeal. The excitement and energy of an ever-climbing price ticket make for entertainment unlike anything else. (It’s so much fun that the events are even broadcast on television for other vintage car lovers to watch.) This is the runway and red carpet for hundreds of beautiful, shiny works of art on wheels. Highlights from the Barrett-Jackson auction include a 1929 Hamilton Metalplane (yes, that’s right, a plane!) and a shiny black 1963 Shelby Cobra CSX 2091. Russo and Steele will be auctioning off more than 600 classic “sports and muscle” cars over a five-day span. Whether you’re simply there to admire or you’re actually putting in a bid, automobile auctions are exciting and fun for all. Who knows, you could be driving away with the top down on a vintage convertible this year!
Who: Barrett-Jackson
What: 39th Annual Collector Car Event
When: January 18-24, 2010
Where: WestWorld of Scottsdale
To get more info: www.barrett-jackson.com or 480.663.6255
Event schedule: Gates, vendor and sponsor displays open daily Monday-Sunday, 8 am-auction close; automobile and collector car auction, Tuesday-Sunday (times vary); twilight auction hours (reduced admission after 5 pm), Tuesday-Saturday, 5 pm-auction close.
Who: Russo and Steele
What: 10th Anniversary Collector Automobile Auction
When: January 20-24, 2010
Where: NE Corner of Scottsdale Road & Mayo Blvd.
To get more info: www.russoandsteele.com or 602.252.2697
Event schedule: Automobile preview and on-site bidder’s registration, Wednesday-Sunday; auction begins, Thursday-Sunday, gates open for preview at 10:00 am.
THE EVENTS:GO CAR CRAZY IN JANUARY!
Building Wealth Through Real Estate
Saturday Science ClassArizona Science Center, Jan. 16th602.716.2000 or azscience.orgYou and your child are invited to join the Arizona Science Center each Saturday, as they explore various topics to investigate and experiment with. This specific Saturday the subject is robots! Examine and analyze them and work on building your own robot! It’s sure to get young minds excited about science. Advanced registration is required for this event.
Drive the Dream GalaWestWorld, Jan. 16th 480.922.8212 or childhelpdrivethedream.orgThis magical night is dedicated to a truly worthy cause. Proceeds benefit Childhelp, the leading national organization dedicated to helping victims of child abuse and neglect. A part of the Barrett-Jackson event, the evening unfolds with a cocktail reception, followed by fine dining, a live auction and dancing.
Glendale Glitter and Glow Block PartyDowntown Glendale, Jan. 16th623.930.2299 or glendaleaz.comDon’t miss out on this exciting block party, a finale to the annual Glendale Glitters holiday event. Thousands of people will fill the 12 blocks of historical downtown. More than a dozen musical acts and lively street performers will be entertaining the crowd. The ambiance is festive with the soft glow of lit and tethered hot air balloons, and the 1.5 million twinkling lights as the stunning backdrop.
Sunday A’Fair Scottsdale Civic Center, Jan. 24th480.994.2787or scottsdaleperformingarts.orgPack a picnic basket and sit out on the lawn as you enjoy the many performances by top Valley entertainers. Or, delicious food and beverages from Arcadia Farms will be available to purchase. Many activities for children and families will be set up as well as a free guided tour of the sculptures in the Civic Center. What a great way to spend a sunny winter afternoon.
National Geographic Live: Hunting Dinosaurs Mesa Arts Center, Jan. 27th480.644.6501 or mesaartscenter.comGo back in time with Paul Sereno to the prehistoric era of the dinosaurs! This modern-day Indiana Jones leads expeditions to exotic places such as the Sahara and Tibetan Plateau in search of fossils. You’ll be captivated with many great stories of Sereno’s thrilling life and recent dinosaur discoveries.
Walk ‘n Roll Dog Walk Tempe Town Lake, Jan. 31st480.945.0754 or walknrolldogwalk.orgBring your dog out for a little exercise and fun all in support of their canine friends. The day starts out with a 5K walk and wheelchair roll around Tempe Town Lake. Afterwards participate in the silent auction, play a few games and browse the many vendor booths. Proceeds benefit Power Paws Assistance Dogs.
JANUARY 2010
It may seem like an uncertain time to invest in real estate. However, perhaps our recent market corrections have led to some of the best buying opportunities seen for generations. Local financial advisor Hugh Daniels with Raymond James and Associates, Inc. offers his unbiased opinion regarding acquiring real estate and its role in your overall wealth planning.
Q: How should real estate investment play a part in one’s financial planning and overall portfolio? A: Real estate, like any investment you make, should fall within a well diversified, asset-allocated portfolio. Asset allocation involves dividing an investment portfolio among different asset categories, such as stocks, bonds, cash, and alternative investments, which includes real estate. Determining which mix of assets to hold in your portfolio is different for every individual and will differ due to your personal time horizons and risk tolerance. Real estate has traditionally offered a nice complement to an overall investment strategy.
Q: Has real estate historically been a key component to building wealth? A: Yes, some of the wealthiest individuals in the world, as well as large institutions, foundations,
and trusts, have amassed and maintained their fortunes with real estate as a part of their investment strategy.
Q: Is now a good time to invest in real estate? What if the housing market continues to see price declines in the near future—can buying today still be a good investment? A: It is impossible to predict the bottom of any market. My personal opinion is that if you find a piece of real estate that you like, you feel it is a good value at the current price, and your investment timeline is not short term, then you may want to strongly consider the investment.
Q: What stage of one’s life is the best time to invest in real estate—when you’re young and just starting to build wealth? Nearing retirement? Already retired? A: A decision to enter the real estate market can be appropriate for almost any age investor as long as it is entered with an understanding of your personal end-goal. There is always an opportunity for the smart investor to capitalize on, regardless of market conditions. I believe that in real estate, the key to your success is having a licensed advisor, your Realtor, help you navigate the market and aid you in purchasing with the intention to build wealth.
Q: Is it safer today to invest in real estate or the stock market?A: Trying to measure whether real estate offers a safer environment than the stock market is a very subjective statement and it is going to depend on a number of factors. An individual who plans on only holding an investment for one year versus an investment held for ten years makes a monumental difference. If any lesson can be learned from our most recent market correction, it’s that real estate and the stock market both have risk. An individual must assess this risk before entering either market. If you’re investing in the real estate market, buy something you like and that you plan to hold on to. Time has a tendency to cure all wounds.
For more information on financial planning, contact: Hugh Daniels, Financial Advisor and Wealth Management Specialist, Raymond James and Associates, Inc. [email protected] • 480.365.6889
Cowboy Steak
Featuring BLT Steak5402 E. Lincoln Dr. • Scottsdale
480.905.7979 or bltrestaurants.com
6 rib steaks, 22-26 oz. (long bone, if available)salt and fresh ground black pepper
COWBOY RUB8 oz. each toasted & ground dried pasilla chile and guajillo chile1 cup jalapeno powder1/2 cup smoked paprika 2 cups brown sugar 1/4 cup fine sea salt
COWBOY BUTTER 2 lbs. unsalted butter, softened1/2 cup smoked paprika 1/4 cup Cajun spice2 tbsp. each ground cumin, ground coriander, finely chopped fresh garlic, finely chopped fresh shallot, fresh chopped parsley, fresh chopped thyme leaves, cayenne pepper salt and pepper
Make the Dry Rub In a bowl, mix together all of the dry ingredients. Place the steaks in a roasting pan and rub on all sides with the mixture. Cover and chill at least 24 hours.
Make the Butter In a medium bowl, beat together 1 1/2 lbs. of the butter and all of the other ingredients until blended. Place on a sheet of plastic wrap and roll it into a sausage shape. Store in the refrigerator up to three days or in the freezer up to two weeks. Chef’s Tip: European-style butters have slightly more fat and less water. This gives them a creamier texture and richer flavor.
Cook the Steaks Heat a barbecue grill. Spread the steaks with the remaining 1/2 lb. of butter. Season them on both sides with salt and pepper. Place the steaks on the grill and cook until browned, about three minutes. Turn the steaks and brown on the other side, about three minutes more. Be careful as the chili rub might burn. Transfer the steaks to a cooler part of the grill. Cover and cook for 20 to 25 minutes for medium-rare.
To Serve Place the steaks on a cutting board and cover loosely with foil. Let rest for 10 to 12 minutes. Carve the meat off the bone. Cut the steaks crosswise into 1-inch slices. Arrange the slices on the plates. Cut the butter into slices and arrange on the steaks. Serve immediately.
The Valley goes car crazy in January with the arrival of the Barrett-Jackson Collector Car Event and the Russo & Steele Collector Car Auction (see sidebar for dates and details). But it’s not just us Arizonans that get revved up for these amazing auto shows. People come from all over the world to view—and bid on—these luxury, specialty, and collector cars. And why not? Who doesn’t love a retro roadster from a long-ago era or a shiny souped-up convertible that’s in impeccable condition? And where better to view these spectacular speedsters than in Scottsdale in January. Americans have long had a love of collecting classic and sporty automobiles. Jay Leno is one such guy
who has acquired so many vintage cars he has his own garage and website dedicated to the topic (check out www.jaylenosgarage.com). A sentimental car in the collection is the 1955 Buick Leno slept in while trying to make it as a comic in Los Angeles. He never sold it and still owns his one-time “home on wheels” today. Fellow comedian Jerry Seinfeld, another renowned car collector, is reported to have one of the largest-ever Porsche collections. And he can afford it! Why our fascination with these collector and specialty cars? Surprisingly, it’s not all about how they look and handle when speeding down the road— although that is the attraction for many. Perhaps the real appeal is acquiring a
piece of history—and in doing so, preserving history. “I believe we don’t really own these cars,” Jay Leno once told a reporter for bankrate.com. “We just keep them for the next owners.” Auto auctions, of course, offer their own unique appeal. The excitement and energy of an ever-climbing price ticket make for entertainment unlike anything else. (It’s so much fun that the events are even broadcast on television for other vintage car lovers to watch.) This is the runway and red carpet for hundreds of beautiful, shiny works of art on wheels. Highlights from the Barrett-Jackson auction include a 1929 Hamilton Metalplane (yes, that’s right, a plane!) and a shiny black 1963 Shelby Cobra CSX 2091. Russo and Steele will be auctioning off more than 600 classic “sports and muscle” cars over a five-day span. Whether you’re simply there to admire or you’re actually putting in a bid, automobile auctions are exciting and fun for all. Who knows, you could be driving away with the top down on a vintage convertible this year!
Who: Barrett-Jackson
What: 39th Annual Collector Car Event
When: January 18-24, 2010
Where: WestWorld of Scottsdale
To get more info: www.barrett-jackson.com or 480.663.6255
Event schedule: Gates, vendor and sponsor displays open daily Monday-Sunday, 8 am-auction close; automobile and collector car auction, Tuesday-Sunday (times vary); twilight auction hours (reduced admission after 5 pm), Tuesday-Saturday, 5 pm-auction close.
Who: Russo and Steele
What: 10th Anniversary Collector Automobile Auction
When: January 20-24, 2010
Where: NE Corner of Scottsdale Road & Mayo Blvd.
To get more info: www.russoandsteele.com or 602.252.2697
Event schedule: Automobile preview and on-site bidder’s registration, Wednesday-Sunday; auction begins, Thursday-Sunday, gates open for preview at 10:00 am.
THE EVENTS:GO CAR CRAZY IN JANUARY!
Building Wealth Through Real Estate
Scottsdale Ranch’sHot Real Estate Listings
Real Estate InvestingA Sound Strategy For Your Portfolio?
Saddle Up!BLT Steak Goes Cowboy
Admiring & Acquiring Specialty Vehicles
A Passion For
January 2010
If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Each issue we will report on the previous period’s activity. This issue reflects activity for October and November of 2009.• There are currently 76 Active Listings in Scottsdale Ranch – up from 65 in last month’s report and 68 in the previous report.• For October/November the average square footage price for Active Listings was $230.89. This is noteworthy because the last four period reports were $248.88, $244.32, $240.71 and $236.59.• The average square footage price for Closed Sales for October/November was $182.18 – another noteworthy figure when you look at the last four reports of $193.90, $217.43, $202.51 and $175.91.
In the October/November period we had 6 Closed Sales and 18 Pending /AWC (Active With Contingencies – means it is under contract but there are contingencies with the contract that have not been taken care of yet and the property is still being marketed for backup offers). For the past four periods we have reported between 20-25 in the Closed/Pending category. This category has been amazingly steady through the year. Here is some insight into the other figures . . . actual sale price by square foot amount has gone down throughout the year as the inventory slowly decreased. For the most part, the sold properties were those that either listed at a competitive price or eventually dropped their price to one the market was willing to pay. Sales have been steady because once properties reached the price point of the actual market (the price buyers were willing to pay), they were gobbled up. There probably could have been more sales except many of the new listings that came on the market in the past few months have been very aggressively priced. This is not reading the market properly. As we close in on year-end, we’re seeing significant price reductions in listing prices. If this had been done earlier, there would have been more sales. Now, many of these reductions are just “chasing the market” – lowering their price but still staying above the actual market. We think “year-end” mentality will be reflected in our next report for the last month of the year and there may even be a more cautious approach by buyers to start the year. As always, if you need a market analysis or help in buying or selling real estate, give us a call. For over 23 years we have helped our clients achieve their real estate goals in residential, land, commercial and investment properties.
Scottsdale Ranch Market Report
PENDING SALESAddress Sq. Ft. / Bed / Bath Price/Sq. Ft. List Price9708 E. Via Linda #1311 1038 / 2 / 2 $173 $179,99910080 E. Mountain View Lake Dr. #323 1152 / 2 / 2 $234 $269,9009463 N. 105th Pl. 1610 / 3 / 2 $174 $279,9009803 N. 100th Pl. 1989 / 2 / 2 $163 $325,00010591 E. Mission Ln. 1898 / 3 / 2 $171 $325,00010545 E. Bella Vista Dr. 2106 / 4 / 2 $157 $330,00010545 E. Mission Ln. 2121 / 4 / 2 $165 $350,00010552 E. Bella Dr. 1900 / 3 / 2 $210 $399,00010431 N. 105th Way 2262 / 3 / 2 $188 $425,00010178 E. San Salvador Dr. 2968 / 4 / 3 $150 $444,9009780 E. Gold Dust Ave. 3079 / 5 / 3.5 $158 $485,1009688 E. Cinnabar Ave. 2354 / 3 / 2 $219 $515,00010266 E. Caron St. 2353 / 4 / 2.5 $223 $525,0009822 E. Doubletree Ranch Rd. 3600 / 4 / 2.5 $166 $599,00010064 E. Turquoise Ave. 1800 / 2 / 2 $347 $625,0009180 N. 106th Pl. 4145 / 5 / 3.5 $151 $624,9009822 E. San Salvador Dr. 3482 / 4 / 2.5 $194 $675,000CLOSED SALESAddress Sq. Ft. / Bed / Bath Price/Sq. Ft. Sold Price COE10080 E. Mtn. View Lake Dr. #D212 1081 / 2 / 2 $167 $180,000 10/12/0910080 E. Mtn. View Lake Dr. #G214 1152 / 2 / 2 $169 $195,000 10/27/0910564 E. Saddlehorn Dr. 2186 / 3 / 3 $128 $280,000 10/01/0910548 E. Mission Ln. 2121 / 4 / 2.5 $215 $455,000 11/12/0910447 N. 107th St. 4760 / 5 / 4 $129 $615,000 11/05/09 10401 N. 100th St. #8 3100 / 4 / 3 $285 $885,000 10/29/09
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
REAL ESTATE ACTIVITY IN
FEATURED PROPERTIES
www.ThePeggyRauchGroup.com
Peggy Rauch602.206.3336
Michael Meinerz602.882.0075
7001 N. Scottsdale Rd. #1020 • Scottsdale, AZ 85253
10390 E. Lakeview Drive #203 Scottsdale, AZ 852582 Bedrooms | 3 Baths 2,578 Sq. Ft.Fabulous Penthouse with outstanding Lake and Mountain Views. Highly upgraded, views from every window - Lakefront on 3 sides - Private Boat Dock - A Steal at $775,000!!!
10193 N. 103rd Street Scottsdale, AZ 852583 Bedrooms | 2 Baths 1,936 Sq, Ft. Beautifully updated with Private Pool and Water Feature, Private Boat Dock, Super Views – Great Buy at $750,000!
