My number one goal is to help you maximize your return on your investment; your home.
JANUARY | FEBRUARY 2015
IT’S MORE THAN A HOUSE, IT’S A WAY OF LIFE
VA L L E Y O F T H E S U N
• Central Valley •
GET BOWLED OVER
As a professional Realtor you can be assured you will receive the most updated market analysis followed up with the highest quality marketing activities that highlight your home. Keeping my focus on you and your experience has kept me as one of the top agents in the Berkshire Hathaway HomeServices Family. It would be my honor and pleasure to provide you with the quality experience you deserve whether you are selling or buying.
Party Time in Arizona!
2014 SALES STATISTICS BY COMMUNITY
Bart Morgenegg REALTOR®
602.361.6164 Direct Bart@TheATGGroup.com TheATGGroup.com
Community Aviano Biltmore Coronado Desert Ridge Encanto Moon Valley Squaw Peak Tatum Highlands Willo
Average Sale Price $626,236 $807,240 $287,193 $405,976 $243,830 $276,338 $772,077 $348,956 $177,097
Days on List/Sell Market Price Ratio 83 98% 92 95% 62 98% 64 98% 72 98% 85 97% 168 95% 77 98% 57 98%
# Closed 42 53 67 120 56 97 13 51 92
Statistics gathered from ARMLS. All information deemed reliable but not guaranteed. (Single-Family Residences)
WANT YOUR PROPERTY TO BE OUR NEXT COVER HOME?
Call Bart for the most effective marketing to get your Camelback Corridor property sold at 602.361.6164. ©2014 BHH Affiliates, LLC. An independently owned and operated franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Equal Housing Opportunity. Information is deemed reliable but not guaranteed. 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
Greater Phoenix Real Estate Update Potential Buyers Out Of Penalty Box
Soothe Your Soul
Stockyards Tenderloin Chili
In Good Taste
Event Calendar
The Stockyards StockyardSteakhouse.com | 602.273.7378
JANUARY | FEBRUARY 2015
STOCKYARDS TENDERLOIN CHILI INGREDIENTS 2 lb ground beef 4 cloves garlic (minced) 1 large white onion (medium dice) 2 14 oz cans tomatoes (small dice) 2 14 oz cans ranch style beans 2 4 oz cans green chiles 1 small can tomato paste 1 qt beef stock 2 tbsp chili powder 1 tbsp cumin 1/2 tbsp crushed red pepper 1/2 tbsp cajun spice 1/2 tbsp oregano 2-3 dashes Tobasco 1-2 tbsp salt 1-2 tbsp pepper 1/4 c slurry (cornstarch and water) Garnish with chopped red onion and grated Jack or Cheddar cheese
HELLO SPORTS FANS! If you’re into football (and a bit of golf, too), have we got some news for you: Where can you be at five major sporting events over the span of roughly 30 days all within one warm, sunny state? It’s Arizona, of course, where from the end of December through February 1, you can catch some serious sports action at the Fiesta Bowl (December 31), the Cactus Bowl (January 2), the Pro Bowl (January 25), the Waste Management Phoenix Open (January 26 through February 1), and of course, the Super Bowl (February 1). So book your tickets— or if you’re lucky enough, your own private jet—and get ready to touch down in the Valley of the Sun for some stupendous sporting excitement. No doubt, the biggest draw to Arizona during this action-packed time is Super Bowl XLIX, held this
DIRECTIONS: Cook ground beef over medium high heat in a large soup pot until browned evenly. Drain, remove beef from pot and set aside. Use a small amount of the beef fat to cook the garlic and onions over medium heat in the same large pot until translucent. Add the drained ground beef to the onions and stir well. Add the tomatoes, beans, chiles and all the other ingredients besides the cornstarch slurry. Stir well and cook over medium heat until the mixture just starts to boil and then turn down and simmer for at least a half hour. Add the cornstarch slurry, bring back to a simmer for a few minutes and serve topped with the chopped red onion and grated cheese. Ground beef can be a variety of meats. Stockyards will trim the fat from Filet Mignons and New York Strips for ground beef in the chili, but have also used ground Buffalo and ground Elk. Either of these options are delicious. Homemade cornbread is the perfect complement to homemade chili!
year at the University of Phoenix Stadium. In case you didn’t know it, the Super Bowl is a major social and sporting scene. In fact, according to Forbes magazine the Super Bowl is among the biggest worldwide events for private jet travel, with an estimated 5,300 business and private jets journeying to Arizona the week of Super Bowl XLIX. There’s also a lot of eatin’ going down on Super Bowl Sunday, the second highest day of food consumption in the U.S., second only to Thanksgiving. This is tailgating in serious style. And Phoenix is ready to host the Super Bowl like never before. Since last hosting the big game in 2008, the city has pumped some $4 billion into new downtown development including 250,000 square feet of new retail space, a completed Phoenix Convention Center, 20 miles of light rail, 1,500 new hotel rooms, and more than 30 new restaurants. Ticket holders will also want to check out
Super Bowl Central, a 12-block pedestrian-friendly area in downtown Phoenix, which will serve as the hub of Super Bowl activity for fans, sponsors, media, and the NFL itself. Estimated to attract one million attendees, this hub will host football-themed activities, a nightly fireworks show, an autograph and concert stage, local food trucks, beer and wine gardens, and television network broadcast stages. Party central! But let’s not forget about the Pro Bowl, held every year to highlight the NFL’s best and brightest as voted by the players, coaches, and fans, which will also be held at University of Phoenix Stadium. Fun fact: This game will be only the third time a Pro Bowl and Super Bowl are held in the same location, making Arizona the place to be this year for football fun. Throw in two college football bowl games and a major golf tournament, and you can see why Arizona is this season’s sports hot spot. See you at the stadium!
R E S I D E N T I A L R E A L E S TAT E U P D AT E
by Mike Orr – Director of Real Estate Studies at ASU’s WP Carey School of Business and Principal of The Cromford Report
Between September 2011 and September 2013 the Greater Phoenix housing market staged an impressive two year recovery with monthly median sales prices rising almost 70% from the extreme lows of the housing crash. However in the 14 months since then we have seen the median sales price add only 3.5%, not a great deal higher than inflation. Clearly the market in 2014 is very different from 2013, and for many reasons. Many investors left the Phoenix market when the flood of foreclosures abated. Normal home buyers had frequently complained about being outbid by investors, but once investor demand declined, demand from ordinary home buyers has proven insufficient to fill the gap and sales volume has been low ever since September 2013. Frequently quoted reasons for the low demand include • Many potential buyers have insufficient savings for a down payment • Existing student debt discourages the taking on of further debt for home purchase
• Millennials deferring starting families until much later in their life than previous generations • Large numbers of people are still in the penalty box following a foreclosure or short sale • Difficulty in getting approval for a loan with less than perfect credit history • Weak growth in income for the average household Many ordinary home buyers appear to have decided to sit on the sidelines for one or more of these reasons. At the same time, many potential sellers still have home loans in excess of their home value, particularly those who bought or refinanced between 2004 and 2008. Home sale transaction volumes are lower in 2014 than they were in 1999, and this is especially true for new home sales, which are running at about one third of normal. The only sector of the market that is firing on all cylinders is the very high end. Homes over $2,000,000 are selling in larger numbers than they have since 2006. Currently prices are moving sideways and we are unlikely to see further moves upward until demand shows
some significant growth from its current level. Such growth is certainly a possibility. Many people who were foreclosed in 2008 will return to full eligibility in 2015 after seven years in the penalty box. Moves are also afoot to loosen credit restrictions in mortgage lending and there is also talk of lower down payments becoming acceptable to Fannie Mae & Freddie Mac. If these come to fruition then 2015 should turn out to be a busier year than 2014.
Barrett-Jackson Collector Car Auction WestWorld of Scottsdale | January 10-18 480.663.6255 | Barrett-Jackson.com Established in 1971, Barrett-Jackson, the world’s leading collector car auctions and automotive lifestyle events, specializes in providing products and services to astute classic and collector car owners and automotive enthusiasts around the world. With an unprecedented expert staff who have over 130 years of combined experience in the automotive field, Barrett-Jackson offers the most diverse and desirable inventory accompanied with trustworthy and transparent customer service. 25th Annual Celebration of Fine Art Hayden Road & Loop 101 | January 17- March 29 480.443.7695 | CelebrateArt.com The Celebration experience is unique. The opportunity to meet 100 working artists, visit their studios, find out how and why they do what they do and participate in their creative processes is something that you simply won’t find anywhere else. Visitors can meet the artists and watch them working in the full spectrum of art media: oil, watercolor, pastels, sculpture and assemblages to glass, ceramics, stone, furniture, jewelry and more. Works range from realistic to impressionistic, western realism to contemporary, landscapes to still life. P.F Chang’s Rock ‘N’ Roll Marathon CityScape | January 18 800.311.1255 | RunRocknRoll.Competitor.com Check out the course that tours through the three host cities of Phoenix, Scottsdale, and Tempe! The Marathon and Bike Tour start in Downtown Phoenix from CityScape while the Half Marathon and Mini Marathon are looped courses launching from Downtown Tempe. Waste Management Phoenix Open TPC Scottsdale | January 26-February 1 602.870.0163 | WMPhoenixOpen.com Annually sporting the largest crowds on the PGA Tour, the Waste Management Phoenix Open has gained legendary status for being unlike any other golf tournament. Not only is it one of the fifth oldest events on the PGA Tour schedule, it also features one of the most unique holes on Tour – the famous 16th. The 16th hole at TPC Scottsdale is normally a routine 162-yard, par-3, but come tournament week the hole is completely transformed into a stadium with enough room for 15,000 screaming fans. Combine that with 132 of the top golfers on the PGA Tour and it’s easy to see why this event has grown to where it is today. Scottsdale Arabian Horse Show WestWorld | February 1-22 480.515.1500 | ScottsdaleShow.com The largest event of its kind in the world attracting hundreds of thousands of spectators. The show has grown from 50 to nearly 2,400 horses, bringing top owners, trainers and breeders from around the world to compete for a chance to win. In addition to exciting competitions, gala parties, educational seminars and an international cuisine court, the event features more than 300 vendor booths, offering everything from lavish jewelry, clothing and works of art.
In Good Taste
Event Calendar
The Stockyards StockyardSteakhouse.com | 602.273.7378
JANUARY | FEBRUARY 2015
STOCKYARDS TENDERLOIN CHILI INGREDIENTS 2 lb ground beef 4 cloves garlic (minced) 1 large white onion (medium dice) 2 14 oz cans tomatoes (small dice) 2 14 oz cans ranch style beans 2 4 oz cans green chiles 1 small can tomato paste 1 qt beef stock 2 tbsp chili powder 1 tbsp cumin 1/2 tbsp crushed red pepper 1/2 tbsp cajun spice 1/2 tbsp oregano 2-3 dashes Tobasco 1-2 tbsp salt 1-2 tbsp pepper 1/4 c slurry (cornstarch and water) Garnish with chopped red onion and grated Jack or Cheddar cheese
HELLO SPORTS FANS! If you’re into football (and a bit of golf, too), have we got some news for you: Where can you be at five major sporting events over the span of roughly 30 days all within one warm, sunny state? It’s Arizona, of course, where from the end of December through February 1, you can catch some serious sports action at the Fiesta Bowl (December 31), the Cactus Bowl (January 2), the Pro Bowl (January 25), the Waste Management Phoenix Open (January 26 through February 1), and of course, the Super Bowl (February 1). So book your tickets— or if you’re lucky enough, your own private jet—and get ready to touch down in the Valley of the Sun for some stupendous sporting excitement. No doubt, the biggest draw to Arizona during this action-packed time is Super Bowl XLIX, held this
DIRECTIONS: Cook ground beef over medium high heat in a large soup pot until browned evenly. Drain, remove beef from pot and set aside. Use a small amount of the beef fat to cook the garlic and onions over medium heat in the same large pot until translucent. Add the drained ground beef to the onions and stir well. Add the tomatoes, beans, chiles and all the other ingredients besides the cornstarch slurry. Stir well and cook over medium heat until the mixture just starts to boil and then turn down and simmer for at least a half hour. Add the cornstarch slurry, bring back to a simmer for a few minutes and serve topped with the chopped red onion and grated cheese. Ground beef can be a variety of meats. Stockyards will trim the fat from Filet Mignons and New York Strips for ground beef in the chili, but have also used ground Buffalo and ground Elk. Either of these options are delicious. Homemade cornbread is the perfect complement to homemade chili!
year at the University of Phoenix Stadium. In case you didn’t know it, the Super Bowl is a major social and sporting scene. In fact, according to Forbes magazine the Super Bowl is among the biggest worldwide events for private jet travel, with an estimated 5,300 business and private jets journeying to Arizona the week of Super Bowl XLIX. There’s also a lot of eatin’ going down on Super Bowl Sunday, the second highest day of food consumption in the U.S., second only to Thanksgiving. This is tailgating in serious style. And Phoenix is ready to host the Super Bowl like never before. Since last hosting the big game in 2008, the city has pumped some $4 billion into new downtown development including 250,000 square feet of new retail space, a completed Phoenix Convention Center, 20 miles of light rail, 1,500 new hotel rooms, and more than 30 new restaurants. Ticket holders will also want to check out
Super Bowl Central, a 12-block pedestrian-friendly area in downtown Phoenix, which will serve as the hub of Super Bowl activity for fans, sponsors, media, and the NFL itself. Estimated to attract one million attendees, this hub will host football-themed activities, a nightly fireworks show, an autograph and concert stage, local food trucks, beer and wine gardens, and television network broadcast stages. Party central! But let’s not forget about the Pro Bowl, held every year to highlight the NFL’s best and brightest as voted by the players, coaches, and fans, which will also be held at University of Phoenix Stadium. Fun fact: This game will be only the third time a Pro Bowl and Super Bowl are held in the same location, making Arizona the place to be this year for football fun. Throw in two college football bowl games and a major golf tournament, and you can see why Arizona is this season’s sports hot spot. See you at the stadium!
R E S I D E N T I A L R E A L E S TAT E U P D AT E
by Mike Orr – Director of Real Estate Studies at ASU’s WP Carey School of Business and Principal of The Cromford Report
Between September 2011 and September 2013 the Greater Phoenix housing market staged an impressive two year recovery with monthly median sales prices rising almost 70% from the extreme lows of the housing crash. However in the 14 months since then we have seen the median sales price add only 3.5%, not a great deal higher than inflation. Clearly the market in 2014 is very different from 2013, and for many reasons. Many investors left the Phoenix market when the flood of foreclosures abated. Normal home buyers had frequently complained about being outbid by investors, but once investor demand declined, demand from ordinary home buyers has proven insufficient to fill the gap and sales volume has been low ever since September 2013. Frequently quoted reasons for the low demand include • Many potential buyers have insufficient savings for a down payment • Existing student debt discourages the taking on of further debt for home purchase
• Millennials deferring starting families until much later in their life than previous generations • Large numbers of people are still in the penalty box following a foreclosure or short sale • Difficulty in getting approval for a loan with less than perfect credit history • Weak growth in income for the average household Many ordinary home buyers appear to have decided to sit on the sidelines for one or more of these reasons. At the same time, many potential sellers still have home loans in excess of their home value, particularly those who bought or refinanced between 2004 and 2008. Home sale transaction volumes are lower in 2014 than they were in 1999, and this is especially true for new home sales, which are running at about one third of normal. The only sector of the market that is firing on all cylinders is the very high end. Homes over $2,000,000 are selling in larger numbers than they have since 2006. Currently prices are moving sideways and we are unlikely to see further moves upward until demand shows
some significant growth from its current level. Such growth is certainly a possibility. Many people who were foreclosed in 2008 will return to full eligibility in 2015 after seven years in the penalty box. Moves are also afoot to loosen credit restrictions in mortgage lending and there is also talk of lower down payments becoming acceptable to Fannie Mae & Freddie Mac. If these come to fruition then 2015 should turn out to be a busier year than 2014.
Barrett-Jackson Collector Car Auction WestWorld of Scottsdale | January 10-18 480.663.6255 | Barrett-Jackson.com Established in 1971, Barrett-Jackson, the world’s leading collector car auctions and automotive lifestyle events, specializes in providing products and services to astute classic and collector car owners and automotive enthusiasts around the world. With an unprecedented expert staff who have over 130 years of combined experience in the automotive field, Barrett-Jackson offers the most diverse and desirable inventory accompanied with trustworthy and transparent customer service. 25th Annual Celebration of Fine Art Hayden Road & Loop 101 | January 17- March 29 480.443.7695 | CelebrateArt.com The Celebration experience is unique. The opportunity to meet 100 working artists, visit their studios, find out how and why they do what they do and participate in their creative processes is something that you simply won’t find anywhere else. Visitors can meet the artists and watch them working in the full spectrum of art media: oil, watercolor, pastels, sculpture and assemblages to glass, ceramics, stone, furniture, jewelry and more. Works range from realistic to impressionistic, western realism to contemporary, landscapes to still life. P.F Chang’s Rock ‘N’ Roll Marathon CityScape | January 18 800.311.1255 | RunRocknRoll.Competitor.com Check out the course that tours through the three host cities of Phoenix, Scottsdale, and Tempe! The Marathon and Bike Tour start in Downtown Phoenix from CityScape while the Half Marathon and Mini Marathon are looped courses launching from Downtown Tempe. Waste Management Phoenix Open TPC Scottsdale | January 26-February 1 602.870.0163 | WMPhoenixOpen.com Annually sporting the largest crowds on the PGA Tour, the Waste Management Phoenix Open has gained legendary status for being unlike any other golf tournament. Not only is it one of the fifth oldest events on the PGA Tour schedule, it also features one of the most unique holes on Tour – the famous 16th. The 16th hole at TPC Scottsdale is normally a routine 162-yard, par-3, but come tournament week the hole is completely transformed into a stadium with enough room for 15,000 screaming fans. Combine that with 132 of the top golfers on the PGA Tour and it’s easy to see why this event has grown to where it is today. Scottsdale Arabian Horse Show WestWorld | February 1-22 480.515.1500 | ScottsdaleShow.com The largest event of its kind in the world attracting hundreds of thousands of spectators. The show has grown from 50 to nearly 2,400 horses, bringing top owners, trainers and breeders from around the world to compete for a chance to win. In addition to exciting competitions, gala parties, educational seminars and an international cuisine court, the event features more than 300 vendor booths, offering everything from lavish jewelry, clothing and works of art.
A Remarkable Real Estate Experience!
Sabrina LeSueur If Results Matter… Who You Work With Matters!
A consummate professional, Sabrina LeSueur is known for understanding her client’s goals and getting results. She works tirelessly to exceed expectations, going above and beyond, with the highest level of integrity. Her background in homebuilder marketing and in the client service sector has been the foundation for true innovative marketing strategies, powerful negotiations and navigating the complexities of real estate transactions. Believing relationships are more important than transactions, Sabrina made a commitment to run her business exclusively by referral. She has a vested interest in making sure clients are completely satisfied by earning their respect and trust. Sabrina wants them so “fired up” that they can’t wait to tell friends and family about her fantastic service. If you are thinking about buying or selling or know someone who is, please consider Sabrina for a truly Remarkable Real Estate Experience! Locally Active, Globally Connected.
To Learn What Your Home is Worth, Contact Sabrina Today.
Sabrina LeSueur
“Working Exclusively by Referral”
602.327.8887
Coldwell Banker Residential Brokerage Previews International Luxury Homes If your home is currently listed, this is not a solicitation for that listing.
SabrinaLeSueur@me.com SabrinaLeSueur.com Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net