Whitewing Oct. 10

October 2010

WHITEWING REAL ESTATE SPECIALIST WHY SHOULD YOU USE THE INTERNET TO MARKET YOUR HOME? Prospective buyers worldwide use the Internet to search for fine homes just like yours. In fact, 90% of buyers search for their homes online according to the National Association of Realtors. You need to reach this pool of buyers by effectively marketing your property online. WHY ZIPREALTY? According to Hitwise.com, ZipRealty.com is the #1 most visited Real Estate Brokerage website in the industry. Our effective use of the Internet has helped us grow into the 5th largest residential Real Estate broker in the U.S. in just over 10 years. Your home will be prominently featured on ZipRealty.com in addition to being listed on other top Real Estate websites like Google, Realtor.com and Craigslist. WHY ME? I am a dedicated Sales Professional who will give you and your Whitewing home the special attention you both deserve. I am a Team Leader at ZipRealty, a member of our Century Club (over 100 homes sold) and have earned the ZipRealty Listing Expert designation- our company’s top designation for listing homes. WHY TAKE MY WORD FOR IT? “We were living in Germany during the entire process which made us rather anxious about everything. We had dozens of questions, daily. Renata promptly answered our queries and guided us through each step which allowed us to purchase our new home.” - Cheryl & Michael H-S “I am an out of state investor and have dealt with a small army of agents in my process, and I must say Renata was head and shoulders THE BEST. She knew exactly what I was looking for and I was turned down by many sellers but she did not give up on me. She was very persistent and finally found me the perfect buy. I will definitely use her again when I am in the market for another house. Thanks a million.” - Joseph Dwyer

If you are thinking about selling, please contact me today through any method you prefer below. I will be thrilled to prepare a free Comprehensive Market Analysis for you and to discuss how to best market your home.

WHITEWING

WHITEWING AT HIGLEY

Address Sq. Ft. / Bed / Bath List Price CURRENTLY FOR SALE 2994 E. Portola Valley Dr. 4,200 / 4 / 4.5 $700,000 2891 E. Bonanza Ct. 4,509 / 6 / 4.5 $790,000 2537 E. Page Ct. 4,200 / 6 / 5 $599,000 SALE PENDING 2855 E. Bonanza Ct. 3,329 / 4 / 3 2839 E. Portola Valley Ct. 3,518 / 4 / 4

$499,900 $540,000

SOLD 2910 E. Bonanza Rd. 3,258 / 4 / 3

Sold Price $505,000

WHITEWING AT KRUEGER

Address Sq. Ft. / Bed / Bath List Price CURRENTLY FOR SALE 2839 E. Jade Pl. 4,280 / 4 / 3.5 $645,000 2677 E. Locust Dr. 4,159 / 5 / 4 $678,030 2675 E. Carob Dr. 5,245 / 5 / 4.5 $784,999 2637 E. Locust Dr. 4,314 / 4 / 3.5 $785,000 2559 E. Jade Pl. 4,431 / 5 / 4.5 $925,000 SALE PENDING 2840 E. Jade Pl.

5,662 / 6 / 5.5

$760,000

SOLD 2735 E. Carob Dr. 4,300 / 5 / 3.5

Sold Price $615,000

WHITEWING AT WIEHL

Address Sq. Ft. / Bed / Bath List Price CURRENTLY FOR SALE 2478 E. Page Ave. 4,251 / 5 / 3 $549,900 2547 E. Page Ct. 3,855 / 4 / 3.5 $559,000 332 N. Parkcrest St. 4,457 / 4 / 4.5 $629,000 2485 E. Park Ct. 4,835 / 5 / 4.5 $650,000 2468 E. Page Ave. 5,018 / 5 / 5 $670,000 2559 E. Vaughn Ct. 3,778 / 4 / 3.5 $699,000 2475 E. Park Ct. 4,326 / 4 / 4 $899,000 2430 E. Vaughn Ave. 5,024 / 5 / 4 $1,290,000 SALE PENDING 320 N. Portland Ave.

Cell: 480.822.8859

3,274 / 4 / 3

SOLD 2468 E. Page Ave. 5,018 / 5 / 5

renata.kilby@ziprealty.com

www.ZipRealty.com/agent/rkilby If your home is currently listed, this is not a solicitation for that listing.

Real Estate Activity in

$499,000 Sold Price $565,000

Price per Sq. Ft. $167 $175 $143

Exquisite

$150 $154 COE $155 8/30/10 Price per Sq. Ft.

Decadent Indulgences for Purists

$151 $163 $150 $182 $185 $134

Mortgage Interest Rates

COE $143 7/19/10

Historic Lows Continue

Price per Sq. Ft. $129 $145 $141 $134 $134 $209 $208 $257

Gratify Your Chocophile Cravings

Vincent’s Sublime Chocolate Cake

$152 COE $113 08/06/10

Source: ARMLS. All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the Multiple Listing Service.

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

ISSN-1939-9421

Whitewing’s

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.