DO YOU OWE MORE THAN YOUR HOME IS WORTH??? Give me a call so I can explain your options.
Bonnie Burke, PC RE/MAX Excalibur 8510 E. Shea Blvd. #100 Scottsdale, AZ 85260 RETURN SERVICE REQUESTED
Rio Verde Real Estate Recap
October 2010
HOMES - Currently, there are 64 active homes on the market and 40 homes under contract. LAND - Currently, there are 294 active lots on the market and 11 lots under contract. The following lots have closed since last publication: 171xx E. Cavedale 15500 E. Horned Owl 1752x E. Windstone Trl. 28000 N. 172nd Street 1 28000 N. 172nd Street 2 163 E. Lone Mountain 152 Lone Mountain 152 Lone Mountain 14800 Morning Vista 13686 E. Lucia Dr. 31207 N. 161st Pl. 31600 N. 168th St. 14500 National Forest 31400 N. 136th St.
1.80 acres 1.06 acres 1.00 acre 1.17 acres 1.17 acres 2.50 acres 1.50 acres 1.16 acres 1.00 acre 1.00 acre 3.63 acres 4.08 acres 5.00 acres 9.50 acres
$24,000 $26,055 $26,500 $29,000 $29,000 $29,400 $39,000 $39,000 $40,000 $45,000 $49,900 $104,900 $120,000 $280,000
*According to AZ Regional Multiple Listing Service
BONNIE BURKE, PC
ABR, CDPE, CLHMS, CRS, e-PRO, GRI Integrity Based, Service Driven
480.720.8001 Cell Bonnie@BonnieBurke.com www.BonnieBurke.com
Featured Property 13732 E. Olesen Road High on a hill, tucked off the beaten bath sits this 3 bedroom home on 2.93 acres giving you panoramic views of the surrounding mountain ranges. Owners have created a haven for someone who truly enjoys the rural lifestyle of entertaining outdoors. Guests will love to mingle on the patio with huge fire pit, BBQ and plenty of room for music and dancin’. The 1648 sq. ft. home comes with a large open kitchen with island, gas cooktop, large pantry and eat-in area. Asking $299,000.
Address Sq. Ft. / Bed / Bath / Lot Size Days On Market List Price NEW LISTINGS SINCE LAST PUBLICATION: 29307 N. 154th St. 1826 / 3 / 2 / 1-1.9 Acres 9 $234,900 27909 N. 154th St. 1912 / 3 / 2 / 1-1.9 Acres 9 $237,000 14912 E. Peak View Rd. 1826 / 2 / 2 / 1-1.9 Acres 7 $239,900 13732 E. Olesen Rd. 1648 / 3 / 2 / 2-4.9 Acres 22 $299,000 30726 N. 172nd Pl. 2000 / 3 / 2 / 2-4.9 Acres 2 $304,900 28807 N. 146th St. 2050 / 4 / 2 / 1-1.9 Acres 12 $320,000 28317 N. 152nd Pl. 3457 / 4 / 4.5 / 1-1.9 Acres 23 $345,500 16530 E. Mark Ln. 2488 / 4 / 3 / 1-1.9 Acres 20 $379,900 30644 N. 156th St. 2290 / 3 / 2 / 2-4.9 Acres 12 $388,900 33425 N. 139th Pl. 3140 / 3 / 2.5 / 1-1.9 Acres 13 $389,900 14505 E. Dale Ln. 3036 / 3 / 2.5 / 1-1.9 Acres 34 $390,000 30707 N. 161st St. 3975 / 4 / 3 / 5-9.9 Acres 22 $433,500 28521 N. 158th St. 3153 / 4 / 3 / 1-1.9 Acres 30 $499,900 29406 N. 150th St. 3370 / 4 / 2.75 / 2-4.9 Acres 19 $525,000 14044 E. Mark Ln. 3400 / 3 / 2 / 1-1.9 Acres 13 $575,000 14905 E. Roy Rogers Rd. 3846 / 3 / 2.5 / 1-1.9 Acres 9 $599,000 15039 E. Desert Vista Ct. 4141 / 4 / 3 / 1-1.9 Acres 18 $599,000 33010 N. 140th St. 3297 / 4 / 4 / 2-4.9 Acres 16 $665,000 26818 N. 144th St. 4028 / 4 / 2.5 / 1-1.9 Acres 24 $749,000 28028 N. 148th St. 2329 / 3 / 2.5 / 10+ Acres 29 $895,000 14327 E. Gamble Ln. 4700 / 4 / 4.5 / 1-1.9 Acres 13 $998,000 PENDING SALES SINCE LAST PUBLICATION: 13718 E. Cascolote Dr. 2555 / 4 / 3.5 / 1-1.9 Acres 36 $258,700 28303 N. 139th Pl. 3082 / 3 / 2 / 1-1.9 Acres 90 $297,500 29103 N. 154th St. 3012 / 4 / 2.5 / 1-1.9 Acres 13 $329,000 29306 N. 146th St. 2780 / 4 / 3 / 1-1.9 Acres 230 $329,900 26705 N. 159th St. 3041 / 4 / 3 / 1-1.9 Acres 25 $360,000 16315 E. Calle Flores Dr. 4526 / 5 / 4 / 1-1.9 Acres 12 $370,000 29211 N. 154th St. 2736 / 4 / 2 / 1-1.9 Acres 36 $375,000 14220 E. Cavedale Dr. 4103 / 5 / 3 / 1-1.9 Acres 32 $379,900 29704 N. 156th St. 3718 / 4 / 4 / 1-1.9 Acres 34 $409,200 27614 N. 158th Way 3406 / 4 / 4 / 1-1.9 Acres 10 $479,000 27109 N. 143rd Pl. 3391 / 3 / 2.5 / 1-1.9 Acres 61 $515,000 13631 E. Casey Ln. 5500 / 5 / 4.5 / 2-4.9 Acres 195 $675,000 30509 N. 160th St. 3063 / 4 / 2.5 / 5-9.9 Acres 204 $699,000 34710 N. 140th St. 4418 / 4 / 6 / 1-1.9 Acres 64 $700,000 SOLD SINCE LAST PUBLICATION: DOM List Price Sold Price 31309 N. 161st St. 4020 / 4 / 4.5 / 1-1.9 Acres 19 $169,900 $138,750 34209 N. 139th St. 1689 / 3 / 2 / 1-1.9 Acres 1 $199,000 $189,900 14533 E. Balancing Rock 3289 / 5 / 3 / 1-1.9 Acres 33 $257,558 $235,000 17316 E. Cavedale Dr. 3635 / 4 / 4.5/ 1-1.9 Acres 1 $199,000 $235,000 26907 N. 156th St. 2248 / 3 / 2.5 / 1-1.9 Acres 25 $298,000 $260,400 13934 E. Villa Cassandra Dr. 3134 / 3 / 3 / 1-1.9 Acres 29 $269,900 $269,900 15446 E. Lomas Verde Ln. 3289 / 3 / 2.5 / 1-1.9 Acres 178 $275,000 $275,000 14642 E. Dale Ln. 2294 / 4 / 2 / 1-1.9 Acres 366 $275,000 $275,000 14827 E. Morning Vista Ln. 2800 / 4 / 3 / 1-1.9 Acres 95 $299,900 $280,000 28135 N. 153rd St. 3028 / 3 / 3.5 / 1-1.9 Acres 37 $310,000 $290,000 14527 E. Dale Ln. 2540 / 4 / 2 / 1-1.9 Acres 138 $329,000 $325,000 15429 E. Roy Rogers Rd. 2547 / 4 / 2 / 1-1.9 Acres 16 $329,900 $330,000 31226 N. 155th St. 3149 / 4 / 4 / 1-1.9 Acres 7 $320,000 $358,000 27306 N. 174th St. 4268 / 5 / 3.5 / 1-1.9 Acres 509 $379,000 $381,000 29625 N. 136th St. 1000 / 1 / 1.5 / 2-4.9 Acres 84 $550,000 $425,000 14106 E. Red Range Way 3750 / 4 / 4 / 2-4.9 Acres 67 $489,900 $470,000 29111 N. 138th Pl. 4026 / 5 / 5 / 1-1.9 Acres 6 $499,900 $505,000 31425 N. 141st Pl. 4180 / 5 / 4 / 1-1.9 Acres 150 $659,900 $615,000 14021 E. Milton Ct. 4100 / 4 / 3.5 / 2-4.9 Acres 114 $1,195,000 $1,000,000 30709 N. 149th St. 5490 / 5 / 4.5 / 5-9.9acres 285 $1,579,000 $1,350,000
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS. 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
ISSN-1939-9421
Exquisite
Decadent Indulgences for Purists
Mortgage Interest Rates Historic Lows Continue
Gratify Your Chocophile Cravings
Vincent’s Sublime Chocolate Cake
Rio Verde Foothills’
Real Estate Report
Chocolate Masters:
GOURMET CHOCOLATIERS YOU WON’T WANT TO MISS
Featuring Vincent Guerithault on Camelback 602.224.0225 | VincentsOnCamelback.com
FLOURLESS CHOCOLATE CAKE INGREDIENTS 1 lb. semi-sweet chocolate 1/2 lb. unsweetened butter 8 eggs, separated 1 3/4 cups sugar
“All you need is love. But a little chocolate now and then doesn’t hurt.” – CHARLES M. SCHULZ
METHOD Cut chocolate into small pieces and melt with the butter over boiling water in double boiler. (Can also be melted in microwave on low temperature.) Remove from heat and blend in egg yolks which have been beaten. It is important that the chocolate has cooled a bit so the egg yolks do not cook when blending. Blend slowly to insure all ingredients are mixed well. Set aside. Whip egg whites until they form stiff peaks, gradually adding sugar as you beat. Gently fold chocolate mixture into egg white mixture, blending well. Fold into a greased and floured 8-inch cake pan and bake at 375 degrees for approximately 40 minutes.
What is it about chocolate? Revered in ancient times as the food of the gods, it seems that even the most sensible of souls can’t resist the siren call of this delectable and indulgent treat. However, true chocolate aficionados know that living “La Vida Cocoa” means experiencing the finest high-quality chocolates available. From creamy praline truffles to white chocolate ganaches, chocolate connoisseurs know that there’s chocolate, and there’s, well, chocolate! You know the kind: Gourmet, artisanal chocolate that flutters your heart with one glance at the exquisite wrapping and packaging. Gourmet chocolate, according to the Fine Chocolate Industry Association, is produced by small chocolate makers, or artisans. The chocolate must be made under the care of a chocolate artisan who has studied and perfected his or her craft. High-end, artisanal chocolates are usually high in cacao content and lower in sugar than run-of-the-mill chocolate brands. Although more costly, it’s worth every penny to a true chocolate enthusiast. But just how does an ordinary cacao bean get transformed into an artisanal chocolate? Much like coffee, there are many factors that contribute to making superior chocolate. The varietal of bean, the origin and environment where the beans grow and how the bean is processed all determine how the gourmet chocolate tastes. Many high-quality chocolates will refer to its “cacao content,” which simply means the amount of cacao present in that particular chocolate. Generally speaking, the higher the cacao content the more intense the chocolate flavor will be. All this aside, we all know that chocolate is delicious. And, since cacao is packed with antioxidants, it’s good for you! That’s all we need to know, really. Read on for where to find some of the most exquisite and mouth-watering artisan chocolates around.
Charles Chocolates CharlesChocolates.com Founded in 2004, this San Francisco-based gourmet chocolate company has won numerous awards for its fine chocolate confections. Owner Chuck Siegel ensures everything is made by hand using the finest chocolates, herbs, fruits and nuts—as well as organic cream and butter. A few highlights: edible chocolate boxes, tea-infused chocolates, and do-ityourself chocolate truffle-making kits.
Eleanor Joseph Confections EleanorJosephConfections.com If you like truffles, be sure to try these all-natural, hand-made treats created right here in Phoenix. Among Eleanor’s enticing truffle flavors: Champagne, Apricot Brandy, White Chocolate Crème Brulee, and two spicy truffles—Spicy Mama and Devil May Care, both made with hot peppers. Be sure to try the unique Wine Pairing Medallions, as well. Each coin is crafted to be paired with specific wine varietals.
Cocoa Dolce Artisan Chocolates CocoaDolce.com Founder Beth Tully left her corporate gig at age 50 and followed her heart, opening this fine chocolate establishment in Wichita, Kansas. And what a shop it is! Check out the gorgeous edible artworks on her website (you can select and see each individual chocolate up close before ordering!).
Norman Love Confections NormanLoveConfections.com From studying in France to wowing guests at the Ritz-Carlton, pastry chef turned chocolatier Norman Love opened his own chocolate salon in 2001 and never looked back. Offerings include black, dark, milk and white chocolates, as well as tantalizing truffles. Of note is Black, Love’s new ultra-premium line of intense dark chocolate (be sure to check out the Black Sipping Chocolate as well).
Christopher Elbow Artisanal Chocolates ElbowChocolates.com Featured everywhere from Oprah to InStyle, these artistic treats include such unique flavors as Strawberry Balsamic Caramel, Tequila Lime, and Venezuelan Spice, a dark ganache infused with a chili-spice blend.
“Chocolate doesn’t make the world go around... but it certainly makes the ride worthwhile!” – AUTHOR UNKNOWN
today’s cost of money: how low can you go? Take yourself back to 1981. Reagan led our country, MTV launched into living rooms, IBM released the first PC, Post-It notes were invented, and the world was obsessed with Di and Charles’ Royal Wedding. Oh yes, that’s also the year that your $400,000 mortgage payment was $5,572.97 a month. Back in 1981, the annual average interest rate was a whopping 16.6 percent. If you’re thinking of refinancing or buying a home, now truly is the time to do it. We are currently at a point where mortgage interest rates are at an all-time historic low. According to Freddie Mac, 30-year fixed-rate mortgages averaged 4.35 percent at press time. But let’s get some perspective on just how low that number really is. Last year at this time, the 30-year rate averaged 5.12 percent, and in 2000, the average annual interest rate was 8 percent; nearly double what it is today. Want to see more annual rates going back to 1970 when records were first kept? There’s a great chart to view at www.FreddieMac.com/pmms/pmms30.htm. So what does all this mean to the bottom line— your wallet? Let’s compare the cost of money today versus recent history. With the same example of a $400,000 loan, the current
interest rate of 4.35 percent makes your monthly payment $1,991.25 (principal and interest only). Not bad! In 2000 (the interest rate was then 8 percent), your monthly payment would have been $2,935.06. Even this time last year with those fantastic rates, your payment would have been $2,176.72 per month. Today’s calculated mortgage payment shows how the current rates truly are at historic lows. Why are rates so low? There are two reasons for this. First, it’s no secret that we are currently in one of the worst recessions in US history. And this kind of bad news has translated into a record low in mortgage rates. There is a lot of downside risk in the stock market these days. As a result, savvy investors have invested in mortgage-backed securities, increasing the demand and driving up their yield. Because mortgage rates offered to the consumer have an inverse relationship to the investment yield, mortgage rates have been plummeting.
Oddly enough when you look at the record number of foreclosure filings in the United States over the past few years, one has to wonder who wants to buy mortgage-backed securities during a time of high home-loan defaults? And that question leads to the second reason why mortgage rates are at historic lows. Last year and early this year, the Federal Government bought huge blocks of mortgage-backed securities to keep mortgage rates from spiking and to make sure that Fannie Mae and Freddie Mac could sell the securities to survive. Remember the question of who in the world wants to buy US mortgage-backed securities when home-loan defaults are at a record high? The answer is: everyone in the world. Mortgage-backed securities are essentially a mutual fund-like pool of newly issued home loans. While loan defaults in the pool may slightly hurt
the investment return to the investor, the defaults are diluted by the majority of the loans in the pool that are performing. What is more important to an investor is whether the entity issuing the securities (Fannie Mae and Freddie Mac in this case) are financially sound. Since Fannie Mae and Freddie Mac are now owned by the Federal Government, their mortgage-backed securities have an implied guarantee that investors find very attractive. The global recession and world-wide debt woes have resulted in many countries teetering on the verge of bankruptcy. Despite how bad the US economy may seem, investing in US-backed securities is still very appealing versus other alternatives, bringing money from investors worldwide into our mortgage-backed securities market. The substantial demand in recent months has turbo-charged the drop in mortgage rates. Until the stock market returns to stability, there is expected to be heavy demand for investments in mortgage-backed securities, keeping these record mortgage rates in place. But like all good opportunities, they often disappear quickly.
OCTOBER 2010 Pumpkin and Chili Party Schnepf Farms, Thursdays – Sundays in October 480.987.3100 | SchnepfFarms.com Ahh – fall is finally here! Make the annual trek to this celebration-of-the-season part of your family’s tradition. Autumn-themed games and entertainment include hay rides, the 10-acre celebrity corn maze, live music, carnival rides, pony rides and of course, picking out that perfect pumpkin. Bring your appetite for tons of delectable seasonal treats. Prokofiev’s Romeo and Juliet Symphony Hall, October 7th – 9th 602.495.1117 | PhoenixSymphony.org Marvel as The Phoenix Symphony magically brings two masterpieces to life during the Rediscovered Masters series featuring Romeo and Juliet and Hans Krasa’s Brundibar. Complementing the symphony during this series is The Phoenix Symphony’s Chorus as well as The Phoenix Boys Choir. Illustrator Maurice Sendak’s enchanting images from his most recently published children’s book will also accompany the performance. Jerry Seinfield Dodge Theatre, October 9th 602.379.2800 | LiveNation.com You still laugh along every night on syndicated TV, now don’t miss a rare opportunity to see this comical genius perform live during his North American tour. Seinfield has made his mark in pop-culture history with his unique and distinguishable brand of humor. Come see what’s new in “Jerry’s world.” Susan G. Komen Race for the Cure State Capital District, October 10th 602.544.2873 | KomenPhoenix.org Join in the fight against breast cancer with the largest 5K event in Arizona. As a runner/walker, you’ll be part of a vast group of those in support of finding a cure for this disease. You may sign up to run in memoriam of a lost loved one, or in celebration of a brave survivor. Before and after the race, enjoy the multitude of booths and exhibits that will have information, freebies and goodies. Disney’s Beauty and the Beast ASU Gammage, October 19th – 24th 480.965.5062 | ASUGammage.com This Academy-Award winning Disney hit is brought to life on stage in a captivating and delightful presentation. One of life’s best lessons is learned in the tale of a girl who dares to look past a man’s beastly exterior and love the true prince inside. Dazzle at the exquisite sets and costumes, and sing along to all your favorite musical numbers such as Be Our Guest and the self-titled number Beauty and the Beast. The 9th Annual First Press Weekend of Wine The Musical Instrument Museum, October 29th 480.774.8466 | FirstPressArizona.com Sip, mix and mingle at the spirited Grand Tasting featuring more than 100 celebrated wines. Watch local chefs enter culinary battle to claim the championship plate at the 4th annual Food Fight. Delight in mouth-watering culinary treats all while taking in the inspiring visuals of the Musical Instrument Museum. The MIM houses a collection of over 10,000 instruments from around the world, nearly 300 multisensory exhibits and a 299-seat MIM Music Theater.
Chocolate Masters:
GOURMET CHOCOLATIERS YOU WON’T WANT TO MISS
Featuring Vincent Guerithault on Camelback 602.224.0225 | VincentsOnCamelback.com
FLOURLESS CHOCOLATE CAKE INGREDIENTS 1 lb. semi-sweet chocolate 1/2 lb. unsweetened butter 8 eggs, separated 1 3/4 cups sugar
“All you need is love. But a little chocolate now and then doesn’t hurt.” – CHARLES M. SCHULZ
METHOD Cut chocolate into small pieces and melt with the butter over boiling water in double boiler. (Can also be melted in microwave on low temperature.) Remove from heat and blend in egg yolks which have been beaten. It is important that the chocolate has cooled a bit so the egg yolks do not cook when blending. Blend slowly to insure all ingredients are mixed well. Set aside. Whip egg whites until they form stiff peaks, gradually adding sugar as you beat. Gently fold chocolate mixture into egg white mixture, blending well. Fold into a greased and floured 8-inch cake pan and bake at 375 degrees for approximately 40 minutes.
What is it about chocolate? Revered in ancient times as the food of the gods, it seems that even the most sensible of souls can’t resist the siren call of this delectable and indulgent treat. However, true chocolate aficionados know that living “La Vida Cocoa” means experiencing the finest high-quality chocolates available. From creamy praline truffles to white chocolate ganaches, chocolate connoisseurs know that there’s chocolate, and there’s, well, chocolate! You know the kind: Gourmet, artisanal chocolate that flutters your heart with one glance at the exquisite wrapping and packaging. Gourmet chocolate, according to the Fine Chocolate Industry Association, is produced by small chocolate makers, or artisans. The chocolate must be made under the care of a chocolate artisan who has studied and perfected his or her craft. High-end, artisanal chocolates are usually high in cacao content and lower in sugar than run-of-the-mill chocolate brands. Although more costly, it’s worth every penny to a true chocolate enthusiast. But just how does an ordinary cacao bean get transformed into an artisanal chocolate? Much like coffee, there are many factors that contribute to making superior chocolate. The varietal of bean, the origin and environment where the beans grow and how the bean is processed all determine how the gourmet chocolate tastes. Many high-quality chocolates will refer to its “cacao content,” which simply means the amount of cacao present in that particular chocolate. Generally speaking, the higher the cacao content the more intense the chocolate flavor will be. All this aside, we all know that chocolate is delicious. And, since cacao is packed with antioxidants, it’s good for you! That’s all we need to know, really. Read on for where to find some of the most exquisite and mouth-watering artisan chocolates around.
Charles Chocolates CharlesChocolates.com Founded in 2004, this San Francisco-based gourmet chocolate company has won numerous awards for its fine chocolate confections. Owner Chuck Siegel ensures everything is made by hand using the finest chocolates, herbs, fruits and nuts—as well as organic cream and butter. A few highlights: edible chocolate boxes, tea-infused chocolates, and do-ityourself chocolate truffle-making kits.
Eleanor Joseph Confections EleanorJosephConfections.com If you like truffles, be sure to try these all-natural, hand-made treats created right here in Phoenix. Among Eleanor’s enticing truffle flavors: Champagne, Apricot Brandy, White Chocolate Crème Brulee, and two spicy truffles—Spicy Mama and Devil May Care, both made with hot peppers. Be sure to try the unique Wine Pairing Medallions, as well. Each coin is crafted to be paired with specific wine varietals.
Cocoa Dolce Artisan Chocolates CocoaDolce.com Founder Beth Tully left her corporate gig at age 50 and followed her heart, opening this fine chocolate establishment in Wichita, Kansas. And what a shop it is! Check out the gorgeous edible artworks on her website (you can select and see each individual chocolate up close before ordering!).
Norman Love Confections NormanLoveConfections.com From studying in France to wowing guests at the Ritz-Carlton, pastry chef turned chocolatier Norman Love opened his own chocolate salon in 2001 and never looked back. Offerings include black, dark, milk and white chocolates, as well as tantalizing truffles. Of note is Black, Love’s new ultra-premium line of intense dark chocolate (be sure to check out the Black Sipping Chocolate as well).
Christopher Elbow Artisanal Chocolates ElbowChocolates.com Featured everywhere from Oprah to InStyle, these artistic treats include such unique flavors as Strawberry Balsamic Caramel, Tequila Lime, and Venezuelan Spice, a dark ganache infused with a chili-spice blend.
“Chocolate doesn’t make the world go around... but it certainly makes the ride worthwhile!” – AUTHOR UNKNOWN
today’s cost of money: how low can you go? Take yourself back to 1981. Reagan led our country, MTV launched into living rooms, IBM released the first PC, Post-It notes were invented, and the world was obsessed with Di and Charles’ Royal Wedding. Oh yes, that’s also the year that your $400,000 mortgage payment was $5,572.97 a month. Back in 1981, the annual average interest rate was a whopping 16.6 percent. If you’re thinking of refinancing or buying a home, now truly is the time to do it. We are currently at a point where mortgage interest rates are at an all-time historic low. According to Freddie Mac, 30-year fixed-rate mortgages averaged 4.35 percent at press time. But let’s get some perspective on just how low that number really is. Last year at this time, the 30-year rate averaged 5.12 percent, and in 2000, the average annual interest rate was 8 percent; nearly double what it is today. Want to see more annual rates going back to 1970 when records were first kept? There’s a great chart to view at www.FreddieMac.com/pmms/pmms30.htm. So what does all this mean to the bottom line— your wallet? Let’s compare the cost of money today versus recent history. With the same example of a $400,000 loan, the current
interest rate of 4.35 percent makes your monthly payment $1,991.25 (principal and interest only). Not bad! In 2000 (the interest rate was then 8 percent), your monthly payment would have been $2,935.06. Even this time last year with those fantastic rates, your payment would have been $2,176.72 per month. Today’s calculated mortgage payment shows how the current rates truly are at historic lows. Why are rates so low? There are two reasons for this. First, it’s no secret that we are currently in one of the worst recessions in US history. And this kind of bad news has translated into a record low in mortgage rates. There is a lot of downside risk in the stock market these days. As a result, savvy investors have invested in mortgage-backed securities, increasing the demand and driving up their yield. Because mortgage rates offered to the consumer have an inverse relationship to the investment yield, mortgage rates have been plummeting.
Oddly enough when you look at the record number of foreclosure filings in the United States over the past few years, one has to wonder who wants to buy mortgage-backed securities during a time of high home-loan defaults? And that question leads to the second reason why mortgage rates are at historic lows. Last year and early this year, the Federal Government bought huge blocks of mortgage-backed securities to keep mortgage rates from spiking and to make sure that Fannie Mae and Freddie Mac could sell the securities to survive. Remember the question of who in the world wants to buy US mortgage-backed securities when home-loan defaults are at a record high? The answer is: everyone in the world. Mortgage-backed securities are essentially a mutual fund-like pool of newly issued home loans. While loan defaults in the pool may slightly hurt
the investment return to the investor, the defaults are diluted by the majority of the loans in the pool that are performing. What is more important to an investor is whether the entity issuing the securities (Fannie Mae and Freddie Mac in this case) are financially sound. Since Fannie Mae and Freddie Mac are now owned by the Federal Government, their mortgage-backed securities have an implied guarantee that investors find very attractive. The global recession and world-wide debt woes have resulted in many countries teetering on the verge of bankruptcy. Despite how bad the US economy may seem, investing in US-backed securities is still very appealing versus other alternatives, bringing money from investors worldwide into our mortgage-backed securities market. The substantial demand in recent months has turbo-charged the drop in mortgage rates. Until the stock market returns to stability, there is expected to be heavy demand for investments in mortgage-backed securities, keeping these record mortgage rates in place. But like all good opportunities, they often disappear quickly.
OCTOBER 2010 Pumpkin and Chili Party Schnepf Farms, Thursdays – Sundays in October 480.987.3100 | SchnepfFarms.com Ahh – fall is finally here! Make the annual trek to this celebration-of-the-season part of your family’s tradition. Autumn-themed games and entertainment include hay rides, the 10-acre celebrity corn maze, live music, carnival rides, pony rides and of course, picking out that perfect pumpkin. Bring your appetite for tons of delectable seasonal treats. Prokofiev’s Romeo and Juliet Symphony Hall, October 7th – 9th 602.495.1117 | PhoenixSymphony.org Marvel as The Phoenix Symphony magically brings two masterpieces to life during the Rediscovered Masters series featuring Romeo and Juliet and Hans Krasa’s Brundibar. Complementing the symphony during this series is The Phoenix Symphony’s Chorus as well as The Phoenix Boys Choir. Illustrator Maurice Sendak’s enchanting images from his most recently published children’s book will also accompany the performance. Jerry Seinfield Dodge Theatre, October 9th 602.379.2800 | LiveNation.com You still laugh along every night on syndicated TV, now don’t miss a rare opportunity to see this comical genius perform live during his North American tour. Seinfield has made his mark in pop-culture history with his unique and distinguishable brand of humor. Come see what’s new in “Jerry’s world.” Susan G. Komen Race for the Cure State Capital District, October 10th 602.544.2873 | KomenPhoenix.org Join in the fight against breast cancer with the largest 5K event in Arizona. As a runner/walker, you’ll be part of a vast group of those in support of finding a cure for this disease. You may sign up to run in memoriam of a lost loved one, or in celebration of a brave survivor. Before and after the race, enjoy the multitude of booths and exhibits that will have information, freebies and goodies. Disney’s Beauty and the Beast ASU Gammage, October 19th – 24th 480.965.5062 | ASUGammage.com This Academy-Award winning Disney hit is brought to life on stage in a captivating and delightful presentation. One of life’s best lessons is learned in the tale of a girl who dares to look past a man’s beastly exterior and love the true prince inside. Dazzle at the exquisite sets and costumes, and sing along to all your favorite musical numbers such as Be Our Guest and the self-titled number Beauty and the Beast. The 9th Annual First Press Weekend of Wine The Musical Instrument Museum, October 29th 480.774.8466 | FirstPressArizona.com Sip, mix and mingle at the spirited Grand Tasting featuring more than 100 celebrated wines. Watch local chefs enter culinary battle to claim the championship plate at the 4th annual Food Fight. Delight in mouth-watering culinary treats all while taking in the inspiring visuals of the Musical Instrument Museum. The MIM houses a collection of over 10,000 instruments from around the world, nearly 300 multisensory exhibits and a 299-seat MIM Music Theater.
DO YOU OWE MORE THAN YOUR HOME IS WORTH??? Give me a call so I can explain your options.
Bonnie Burke, PC RE/MAX Excalibur 8510 E. Shea Blvd. #100 Scottsdale, AZ 85260 RETURN SERVICE REQUESTED
Rio Verde Real Estate Recap
October 2010
HOMES - Currently, there are 64 active homes on the market and 40 homes under contract. LAND - Currently, there are 294 active lots on the market and 11 lots under contract. The following lots have closed since last publication: 171xx E. Cavedale 15500 E. Horned Owl 1752x E. Windstone Trl. 28000 N. 172nd Street 1 28000 N. 172nd Street 2 163 E. Lone Mountain 152 Lone Mountain 152 Lone Mountain 14800 Morning Vista 13686 E. Lucia Dr. 31207 N. 161st Pl. 31600 N. 168th St. 14500 National Forest 31400 N. 136th St.
1.80 acres 1.06 acres 1.00 acre 1.17 acres 1.17 acres 2.50 acres 1.50 acres 1.16 acres 1.00 acre 1.00 acre 3.63 acres 4.08 acres 5.00 acres 9.50 acres
$24,000 $26,055 $26,500 $29,000 $29,000 $29,400 $39,000 $39,000 $40,000 $45,000 $49,900 $104,900 $120,000 $280,000
*According to AZ Regional Multiple Listing Service
BONNIE BURKE, PC
ABR, CDPE, CLHMS, CRS, e-PRO, GRI Integrity Based, Service Driven
480.720.8001 Cell Bonnie@BonnieBurke.com www.BonnieBurke.com
Featured Property 13732 E. Olesen Road High on a hill, tucked off the beaten bath sits this 3 bedroom home on 2.93 acres giving you panoramic views of the surrounding mountain ranges. Owners have created a haven for someone who truly enjoys the rural lifestyle of entertaining outdoors. Guests will love to mingle on the patio with huge fire pit, BBQ and plenty of room for music and dancin’. The 1648 sq. ft. home comes with a large open kitchen with island, gas cooktop, large pantry and eat-in area. Asking $299,000.
Address Sq. Ft. / Bed / Bath / Lot Size Days On Market List Price NEW LISTINGS SINCE LAST PUBLICATION: 29307 N. 154th St. 1826 / 3 / 2 / 1-1.9 Acres 9 $234,900 27909 N. 154th St. 1912 / 3 / 2 / 1-1.9 Acres 9 $237,000 14912 E. Peak View Rd. 1826 / 2 / 2 / 1-1.9 Acres 7 $239,900 13732 E. Olesen Rd. 1648 / 3 / 2 / 2-4.9 Acres 22 $299,000 30726 N. 172nd Pl. 2000 / 3 / 2 / 2-4.9 Acres 2 $304,900 28807 N. 146th St. 2050 / 4 / 2 / 1-1.9 Acres 12 $320,000 28317 N. 152nd Pl. 3457 / 4 / 4.5 / 1-1.9 Acres 23 $345,500 16530 E. Mark Ln. 2488 / 4 / 3 / 1-1.9 Acres 20 $379,900 30644 N. 156th St. 2290 / 3 / 2 / 2-4.9 Acres 12 $388,900 33425 N. 139th Pl. 3140 / 3 / 2.5 / 1-1.9 Acres 13 $389,900 14505 E. Dale Ln. 3036 / 3 / 2.5 / 1-1.9 Acres 34 $390,000 30707 N. 161st St. 3975 / 4 / 3 / 5-9.9 Acres 22 $433,500 28521 N. 158th St. 3153 / 4 / 3 / 1-1.9 Acres 30 $499,900 29406 N. 150th St. 3370 / 4 / 2.75 / 2-4.9 Acres 19 $525,000 14044 E. Mark Ln. 3400 / 3 / 2 / 1-1.9 Acres 13 $575,000 14905 E. Roy Rogers Rd. 3846 / 3 / 2.5 / 1-1.9 Acres 9 $599,000 15039 E. Desert Vista Ct. 4141 / 4 / 3 / 1-1.9 Acres 18 $599,000 33010 N. 140th St. 3297 / 4 / 4 / 2-4.9 Acres 16 $665,000 26818 N. 144th St. 4028 / 4 / 2.5 / 1-1.9 Acres 24 $749,000 28028 N. 148th St. 2329 / 3 / 2.5 / 10+ Acres 29 $895,000 14327 E. Gamble Ln. 4700 / 4 / 4.5 / 1-1.9 Acres 13 $998,000 PENDING SALES SINCE LAST PUBLICATION: 13718 E. Cascolote Dr. 2555 / 4 / 3.5 / 1-1.9 Acres 36 $258,700 28303 N. 139th Pl. 3082 / 3 / 2 / 1-1.9 Acres 90 $297,500 29103 N. 154th St. 3012 / 4 / 2.5 / 1-1.9 Acres 13 $329,000 29306 N. 146th St. 2780 / 4 / 3 / 1-1.9 Acres 230 $329,900 26705 N. 159th St. 3041 / 4 / 3 / 1-1.9 Acres 25 $360,000 16315 E. Calle Flores Dr. 4526 / 5 / 4 / 1-1.9 Acres 12 $370,000 29211 N. 154th St. 2736 / 4 / 2 / 1-1.9 Acres 36 $375,000 14220 E. Cavedale Dr. 4103 / 5 / 3 / 1-1.9 Acres 32 $379,900 29704 N. 156th St. 3718 / 4 / 4 / 1-1.9 Acres 34 $409,200 27614 N. 158th Way 3406 / 4 / 4 / 1-1.9 Acres 10 $479,000 27109 N. 143rd Pl. 3391 / 3 / 2.5 / 1-1.9 Acres 61 $515,000 13631 E. Casey Ln. 5500 / 5 / 4.5 / 2-4.9 Acres 195 $675,000 30509 N. 160th St. 3063 / 4 / 2.5 / 5-9.9 Acres 204 $699,000 34710 N. 140th St. 4418 / 4 / 6 / 1-1.9 Acres 64 $700,000 SOLD SINCE LAST PUBLICATION: DOM List Price Sold Price 31309 N. 161st St. 4020 / 4 / 4.5 / 1-1.9 Acres 19 $169,900 $138,750 34209 N. 139th St. 1689 / 3 / 2 / 1-1.9 Acres 1 $199,000 $189,900 14533 E. Balancing Rock 3289 / 5 / 3 / 1-1.9 Acres 33 $257,558 $235,000 17316 E. Cavedale Dr. 3635 / 4 / 4.5/ 1-1.9 Acres 1 $199,000 $235,000 26907 N. 156th St. 2248 / 3 / 2.5 / 1-1.9 Acres 25 $298,000 $260,400 13934 E. Villa Cassandra Dr. 3134 / 3 / 3 / 1-1.9 Acres 29 $269,900 $269,900 15446 E. Lomas Verde Ln. 3289 / 3 / 2.5 / 1-1.9 Acres 178 $275,000 $275,000 14642 E. Dale Ln. 2294 / 4 / 2 / 1-1.9 Acres 366 $275,000 $275,000 14827 E. Morning Vista Ln. 2800 / 4 / 3 / 1-1.9 Acres 95 $299,900 $280,000 28135 N. 153rd St. 3028 / 3 / 3.5 / 1-1.9 Acres 37 $310,000 $290,000 14527 E. Dale Ln. 2540 / 4 / 2 / 1-1.9 Acres 138 $329,000 $325,000 15429 E. Roy Rogers Rd. 2547 / 4 / 2 / 1-1.9 Acres 16 $329,900 $330,000 31226 N. 155th St. 3149 / 4 / 4 / 1-1.9 Acres 7 $320,000 $358,000 27306 N. 174th St. 4268 / 5 / 3.5 / 1-1.9 Acres 509 $379,000 $381,000 29625 N. 136th St. 1000 / 1 / 1.5 / 2-4.9 Acres 84 $550,000 $425,000 14106 E. Red Range Way 3750 / 4 / 4 / 2-4.9 Acres 67 $489,900 $470,000 29111 N. 138th Pl. 4026 / 5 / 5 / 1-1.9 Acres 6 $499,900 $505,000 31425 N. 141st Pl. 4180 / 5 / 4 / 1-1.9 Acres 150 $659,900 $615,000 14021 E. Milton Ct. 4100 / 4 / 3.5 / 2-4.9 Acres 114 $1,195,000 $1,000,000 30709 N. 149th St. 5490 / 5 / 4.5 / 5-9.9acres 285 $1,579,000 $1,350,000
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS. If your home is currently listed, this is not a solicitation for that listing.
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