Pinnacle Peak Lifestyle

Pinnacle Peak September | October 2013

Joel Payne Real Estate Advisor

P: 480 980 1316 F: 480 596 7981 joel.payne@evusa.com

Current Real Estate Activity In Pinnacle Peak Address SqFt Bed Bath List/Sold CURRENTLY FOR SALE 23025 N 87th Pl 2,402 8002 E Conquistadores Dr 3,019 8112 E Via De Luna Dr 3,042 23234 N Country Club Trl 2,688 8624 E Clubhouse Way 2,785 23429 N 82nd St 4,384 22602 N La Senda Dr 4,196 23712 N 80th Way 4,296 23868 N 81st Pl 4,608 8000 E Mariposa Grande Dr 12,680

3 4 4 3 3 5 5 6 5 5

3 3 2.5 2.5 3 4.5 5 6 4.5 8

$440,000 $575,000 $677,900 $679,000 $775,000 $1,175,000 $1,195,000 $1,250,000 $1,490,000 $3,750,000

3,625 2,126 2,747 5,197 7,465

5 3 3 5 5

3.5 3 2.5 4.5 5

$451,100 $595,000 $649,000 $839,000 $1,799,000

1,812 1,980 2,146 1,930 3,060 5,103 3,309 3,541 4,359 5,178 7,923 4,896

4 2 3 2 3 5 3 3 4 5 6 4

4 2 3 2 2.5 4 2.5 4 4.5 4.5 6.5 4.5

$250,000 $380,000 $410,000 $485,000 $652,000 $767,000 $825,000 $925,000 $1,024,900 $1,050,000 $1,350,000 $1,520,000

SALE PENDING 33407 N 82nd St 8582 E Vista Bonita Dr 8632 E Clubhouse Way 8601 E Camino Vivaz 21925 N Calle Royale

RECENTLY SOLD 8404 E Pinnacle Peak Rd 8534 E Vista Del Lago 8307 E Vista De Valle 23010 N 86th St 8608 E Clubhouse Way 22202 N Calle Royale Dr 8405 E Vista Del Lago St 8233 E Foothill Cir 8134 E Foothills Dr 8146 E Foothills Dr 23414 N 84th Pl 8623 E Los Gatos Dr

LUXURY MARKET UPDATE Although August is always a quiet month for the Greater Phoenix luxury market, the annual numbers are looking very strong this year, especially compared with August 2012. Annual dollar volume jumped 34% to exceed $4 billion for the first time since the heights of the housing bubble. The annual sales rate is up 35%, July sales were 60% higher than last year and pending sales, though down 22% from last month, are up 20% year on year. Pricing increases have been modest compared with the rest of the housing market, but the annual average price per square foot is up a respectable 6%. Of course, as prices increase in the mid-range sector more homes are going over the $500,000 mark and being included in our definition of the luxury sector. Another encouraging sign is that the average number of days on market is down 33% for sales and down 27% for active listings. Distressed homes are also having much less impact. We see that lender owned homes are less than 1% of active listings and short sales and pre-foreclosures are down from over 10% at this time last year to just 3.4% now. So it is not at all surprising that President Obama chose Phoenix as the location for his recent speech about the recovery of the housing market.

Rare Stone Created in Nature Adds Glamour to Any Surface

If you would like more specific real estate statistics about your neighborhood, call Joel now at 480.980.1316. Wells Fargo Home Mortgage Catherine Ann Saethre, Cell: 480-216-1169 kate.a.saethre@wellsfargo.com NMLSR ID 208829 NMLSR ID 399801. AS990553 Expires 10/2013

Engel & Völkers Scottsdale 8777 N Gainey Center Drive · Suite 178 Scottsdale · AZ 85258 · USA Phone +1 480-596-0001 scottsdale@evusa.com scottsdale.evusa.com ©2013 Engel & Völkers. All rights reserved. Each brokerage is independently owned and operated. All information provided is deemed reliable but is not guaranteed and should be independently verified. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.

If your home is currently listed, this is not a solicitation for that listing.

Made in Italy

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

Lock & Leave

Options for Second Homeowners

Get Spicy!

Vincent on Camelback’s Grilled Rack of Lamb

Pinnacle Peak

Real Estate Report

In Good Taste Vincent on Camelback 602.224.0225 | VincentsOnCamelback.com

GRILLED RACK OF LAMB WITH SPICY BELL PEPPER JELLY

travertine time Oh-So Elegant!

...the look

of travertine

LAMB: Ingredients: 8 - 1-lb. racks of lamb Salt and pepper to taste 8 sprigs of dried rosemary Trim lamb in portions of approximately 8 oz. per person. Grill over mesquite to desired temperature (rare - 3 minutes per side; medium - 6 minutes per side; well - 9 to 10 minutes per side). Add dried rosemary (one per portion) and flame. After rosemary is flamed, blow out at once and serve immediately so essence of rosemary is fresh. SPICY BELL PEPPER JELLY: Ingredients: 2 red bell peppers 2 yellow bell peppers 2 green bell peppers 1/2 lb. sugar 8 red serrano chilies Slice or julienne peppers and chilies. Mix with sugar and set overnight in refrigerator. The next day, cook over low heat for approximately 10 to 15 minutes without adding any liquid. The peppers and chilies mixed with sugar will create their own liquid overnight. Proceed to cool and serve at room temperature. Yields 8 servings

Looking for that certain wow factor in your home? Look no further than travertine stone to make your entryway, floors, or kitchen and bathrooms sure to impress. This versatile stone is not only perfect for indoor rooms but for outdoor landscapes as well. Travertine tile is elegant, timeless, and durable. What more could you ask for in a stone? Travertine has been used for thousands of years in Italy and throughout the world. The Coliseum itself was built almost entirely from this stone mined from the nearby town of Tivoli, proof it has withstood the test of time. The Romans also used travertine to build baths, temples, aqueducts, and many other structures. No doubt, travertine weathers well and actually improves with age. Colors will not fade, which makes it a surprisingly good choice for outdoor projects such as patios and pool surrounds, as well as indoor settings. Once you and your designer have chosen travertine for your home, it’s good to know something about this stone before selecting your pieces. Travertine is a natural stone formed in hot springs and limestone caves. The creamy tan and cream colors work well in different style homes from elegant to comfortable, much of this depending on the type of finish the stone is given. Different

Home Sweet Second Home A second home can be a perfect get-away spot; however, the homeowner needs to be realistic about maintenance and security while they are away.

The Ideal Scenario | Lock and Leave: Many communities promote detached homes, townhomes or condominiums that do not have the bother of yard work, exterior maintenance or any of the other responsibilities that typically come with a traditional house. Known as a “lock and leave” property, the homeowner does not have to worry about lawn care or exterior maintenance because it is provided as part of the homeowner’s association (HOA) fees. Granted the HOA fees will usually be higher in these communities. But, the peace of mind is a valuable trade-off to consider. The HOA will be knowledgeable regarding vendors who provide quality services and are reliable. Plus, the HOA will oversee those vendors to ensure that

the work is done to an acceptable level. The monthly HOA fees at these communities may pay for a range of services including: the landscaping of both the front and back yards including trimming of bushes & shrubs in addition to cutting the grass, outside watering sprinkler system cost and maintenance, and often times exterior maintenance of the structure itself such as exterior paint and roofing. The community may also provide a higher level of security by providing a gated entrance – either manned or automatic gate. A security guard may make periodic rounds throughout the community as an added level of security.

Professional Home Manager | Home Concierge: If the second home is not in a “lock and leave” community, the homeowner should consider a professional home manager who will check the home outside (and

finishes achieve varying aesthetics. A tumbled finish will achieve a rough and aged appearance; honed will give a matte finish through sanding; brushed will lend a worn texture; and polished will give the stone a glossy look, making it is less suitable for bathrooms and pool area because of its slipperiness. Travertine has characteristic holes within the stone made from the hot springs from which it is made. These holes can be left unfilled for a more natural, rustic look, or they can be filled. Of course, the holes also lend distinctness to certain pieces, which is exactly what some homeowners are searching for when building custom homes. Until recently, most of the world’s supply of travertine still came from Italy, but today major suppliers include Turkey, Iran, Mexico, and Peru. When time comes to choose your travertine tile, be sure to look over each individual piece when doing high-profile areas, as each tile can have a different appearance. For those who have the time, why not travel to the quarry itself to hand-select the most rare pieces? Your home will exude a tranquil, elegant look that is unlike any other home around.

inside if desired) at periodic intervals or after any severe weather that may have caused damage in the area. The home manager reports status updates via e-mail or a secure website. The person monitoring the residence can quickly alert the property owner to a water leak, a heating or cooling issue or a refrigerator on the blink. The home concierge can also assist in getting repairs made or providing exterior maintenance by scheduling reliable vendors and by personally overseeing progress. Second homeowners want the flexibility to come and go as they please, yet have the reassurance that their investment is safe and taken care of when they are away. Both “lock and leave” communities and professional home management companies may provide just what the second homeowner is looking for.

Event Calendar SEPTEMBER | OCTOBER 2013 Arizona Restaurant Week Participating Restaurants | September 21-29 602.307.9134 | ArizonaRestaurantWeek.com Get out and explore the many great restaurants the valley has to offer! With great prices and restaurant selections this is a chance to delight your palate. This statewide affair offers foodies a wealth of dining opportunities and the chance to get outside their own neighborhood and try something new. From sizzling Southwestern and soothing comfort foods to five-star dining and international fare – it’s all on the table during Arizona Restaurant Week. Mozart in Spain Scottsdale Center for the Performing Arts | September 30 480.499.8587 | ScottsdalePerformingArts.org ASU Concerts at the Center features performances by the faculty and students of the Arizona State University Herberger Institute School of Music. Pianist Walter Cosand performs music centering around the dual themes of Mozart and Spain, including selections from the opera Don Giovanni. Phoenix Fashion Week Talking Stick Resort | October 3-5 480.850.7734 | TalkingStickResort.com Discover the latest national and international fashion trends here in Scottsdale. This week brings world class innovation and fashion to the southwest! The organization’s mission is to bridge the gap between national and international designers and premier retailers and prestige fashion media. Phoenix Fashion Week’s ultimate goal is to garner global exposure for Arizona’s fashion industry. Olive Harvest Festival Queen Creek Olive Mill | October 12-December 15 480.888.9290 | QueenCreekOliveMill.com Enjoy live music, wine tasting, and local product tasting on the weekends this fall. Squeeze in an Olive 101 tour for a chance to taste the fresh oil straight from the press! Experience the gourmet marketplace, where you will find a signature selection of extra virgin olive oils and vinegars, stuffed olives, and tapenades, as well as a line of bath and body products made with extra virgin olive oil. Moondance Gala Heard Museum Phoenix | October 19 602.346.8192 | Heard.org Celebrate one of the social season’s most exciting events. Enjoy cocktails, dinner, and dancing under the stars at the Heard Museum Phoenix. Proceeds from this annual benefit gala provide funding for the museum’s educational mission to educate the people about the arts.