Live Beautifully - August 2022

RECENT

activity

offered at

$1,695,000

Desert Summit 11547 E Cavedale Drive, Scottsdale, AZ 85262 5 Bed + Den | 4.5 Bath | 3,869 SQ FT | 3-Car Garage

When it comes to the North Scottsdale lifestyle and area real estate, The Luckys are proud to be the eminent source for their clients.

With 100s of millions of dollars in sales under their belts, The Luckys are honored to be reputed as the most proficient and skilled in the industry.

just sold

$3,500,000

LISA LUCKY

Glenn Moor at Troon Village 10801 E Happy Valley Road #4, Scottsdale, AZ 85255 5 Bed | 4.5 Bath | 5,371 SQ FT | 3-Car Garage

pending at

602.320.8415 Lisa.Lucky@RussLyon.com

MATT LUCKY

$985,000

480.390.0445 Matt.Lucky@RussLyon.com

Real Estate Corner: Seller Market is Officially Over!

Here’s What to Expect

Desert Diamond 28022 N 112th Place, Scottsdale, AZ 85262 3 Bed | 3 Bath | 2,000 SQ FT | 2-Car Garage

Keeping Cool in Arizona's Summer Heat

LAURA LUCKY 480.390.5044 Laura.Lucky@RussLyon.com

Scottsdale Events Around Town

offered at

$2,150,000

Desert Crown 28448 N 114th Place, Scottsdale, AZ 85262 3 Bed + Den | 3 Bath | 3,045 SQ FT | 3-Car Garage

Laura, Matt, and Lisa Lucky 602.320.8415 | Lucky@RussLyon.com View more luxury listings at LisaLucky.com 7669 E Pinnacle Peak Road, Suite 110, Scottsdale, AZ 85255

View our luxury listings at LisaLucky.com

Real Estate

Lucky loves

corner

The Seller Market is Officially Over!

Here’s What to Expect.

FOR BUYERS: Welcome to a balanced market, how quickly the tables have turned! While seller markets are

ideal

for

the

not-so-perfect

home,

balanced markets are ideal for the not-soperfect buyer. This means that buyers who

UN I

$3,600,000

E UR

PERTY PRO FE E AT U Q pending at

"The location, views, and house are truly stunning. Most impressive is how comfortable, serene, and welcome everyone feels in this incredibly inviting space."

supply is up!

53% of active listings added are by new home developers or investors

past 6 weeks mortgage rates have been particularly volatile, fluctuating from 5.1% to 5.8% within 3 weeks only to drop to 5.3% over the next 2 weeks, and then back up to 5.8% a week later. History tells us that buyer freeze! contract activity has dropped 28% in the last 6 weeks

buyers do not like sharp,

have been recently rejected due to lower down payments, conventional financing vs.

rapid

fluctuations

in

cash, or failure to waive an appraisal contingency will find

mortgage rates. It causes

sellers are now willing to work with them in this new

buying activity to freeze

environment. Supply across all price points is up, with 53% of

until a level of stability and

active listings added by new home developers and investors.

certainty can be achieved.

Builders especially are dropping prices and offering unique

This market is no different, contract activity has

buyer incentives to compete. Experts don’t know how long this

dropped 28% in the last 6 weeks. The number of

period will last as it depends on what interest rates do over the

listings under contract at this time of year should

next few months, but home buying just became fun again.

be around 10,000, putting today’s count of 8,680

What's your favorite way to keep cool in the Arizona heat?

LAURA: What better way to beat the heat than with a refreshingly cold shaved ice!?

My husband and I fell in love with this sweet treat in Hawaii. If you can't make it to Maui, check out Mahalo Made (1215 E. Missouri Ave., Phoenix, AZ 85014) to satisfy a craving!

well below normal.

Windy Walk Estates at Troon Village

Welcome home to this modern desert dwelling centered around views of Pinnacle Peak from the front and up-close Troon Mountain to the back. Front entry glass doors and clerestory windows allow for superior natural light in the great room which features a gas fireplace with floor to ceiling tile surround and stone mantle. Wide plank French oak floors and Eramosa porcelain tile throughout. The kitchen is an entertainer's dream with Subzero and Wolf appliances, custom tile backsplash, Woodcase European Fine Cabinetry, and a custom centerpiece stainless steel hood vent. Enjoy the Artisan home automated system with security, Sonos stereo speakers, pre-wired motorized shades, Control 4 and Lutron lighting throughout.

10667 E Yearling Drive, Scottsdale, AZ 85255 4 Bed + Den | 4.5 Bath | 4,154 SQ FT | 3-Car Garage

coming: longer marketing times, negotiations, price reductions, tours, staging and repairs

FOR SELLERS: The proverbial “Dump Your Junk” season is over, that loving phrase the industry uses when demand is significantly higher than supply and even the smelliest, dilapidated property gets multiple offers over asking

price. That is no longer the case as of this writing. Get ready for longer marketing times, price reductions, Realtor® tours, price opinions, staging, repairs, seller-paid closing costs and price negotiations. The extreme seller market is over.

It’s no surprise that the market has been shifting since February, with the primary influence being large mortgage rate increases. However, over the

the most influential market shift: large and volatile mortgage rate increases and fluctuations

since March price reductions have gone up 500% but have not increased demand

In the meantime, a 220% increase in supply over the past 15 weeks has put pressure on sellers to cash

compete. buyers

With offering

significantly below list price recently,

attention

is

back

on

traditional buyers, many of whom have been priced out of the market due to so many cash buyers. Price reductions have gone up 500% since March, but have done little to increase demand as mortgage rate increases offset their effect and continue to keep payments high.

Arizona State Fair

Immersive Van Gogh Exhibit

September 23rd - October 30th | AZ State Fairgrounds 1826 West McDowell Road, Phoenix, AZ 85007

Opening July 29th | Lighthouse Artspace, Phoenix 4301 North Scottsdale Road, Scottsdale, AZ 85251

Fried foods and amusement fair rides are now officially back on the

The Immersive Van Gogh Exhibit at Lighthouse Artspace is

calendar for Fall 2022 in Phoenix! The Arizona State Fair will open

an art installation that features massive moving projections

a week earlier than in past years, beginning on Sept. 23. Fairgoers

of the renowned painter’s work. Get ready to be transported

will get the chance to enjoy a variety of entertainment including

the second you step inside. Created by Italy’s digital artist

concerts, monster truck shows, rodeo events and figure-eight

Massimiliano Siccardi, the touring show opens July 29 at

racing. Tickets are now available for purchase at AZStateFair.com.

with prices starting at $39.99. VanGoghPhx.com

LISA: My favorite way to stay cool in the heat is swimming and relaxing in our pool.

The sound of the cascading water over the negative edge is so soothing.

Floating in the water feels like I’m in a hammock and I could be anywhere!

MATT: We usually have a cool breeze blowing. I enjoy reading a good book on the back patio in the shade. What I'm reading now: The Splendid and the Vile, by Erik Larson.

A NEW LOCATION! Chula Seafood and its many-splendored oceanic options — the poke bowls, the confit tuna sandwich, the Hatch chile tuna melt, the CA burrito, the chowder, the oysters, the daily specials — then you’ll be thrilled to know there’s a third location is in the works.

The new Chula will be in the former Hi-Health space in Hayden Peak Crossing at Hayden and Thompson Peak Parkway.

While each location will offer the same menus, each will also have its own food features.

ChulaSeafood.com

INVENT YOUR SCENT Did you know that the sense of smell is the most sophisticated of the five senses, and the sense most closely tied to memory? With over 100 fragrances to choose from, the possibilities are endless at Candle Chemistry! Create your own custom soy candle or body product with a scent all your own!

Pour on in, no reservations needed!

Or, book a party with friends to celebrate a special occaision.

CandleChemistry.com

Real Estate

Lucky loves

corner

The Seller Market is Officially Over!

Here’s What to Expect.

FOR BUYERS: Welcome to a balanced market, how quickly the tables have turned! While seller markets are

ideal

for

the

not-so-perfect

home,

balanced markets are ideal for the not-soperfect buyer. This means that buyers who

UN I

$3,600,000

E UR

PERTY PRO FE E AT U Q pending at

"The location, views, and house are truly stunning. Most impressive is how comfortable, serene, and welcome everyone feels in this incredibly inviting space."

supply is up!

53% of active listings added are by new home developers or investors

past 6 weeks mortgage rates have been particularly volatile, fluctuating from 5.1% to 5.8% within 3 weeks only to drop to 5.3% over the next 2 weeks, and then back up to 5.8% a week later. History tells us that buyer freeze! contract activity has dropped 28% in the last 6 weeks

buyers do not like sharp,

have been recently rejected due to lower down payments, conventional financing vs.

rapid

fluctuations

in

cash, or failure to waive an appraisal contingency will find

mortgage rates. It causes

sellers are now willing to work with them in this new

buying activity to freeze

environment. Supply across all price points is up, with 53% of

until a level of stability and

active listings added by new home developers and investors.

certainty can be achieved.

Builders especially are dropping prices and offering unique

This market is no different, contract activity has

buyer incentives to compete. Experts don’t know how long this

dropped 28% in the last 6 weeks. The number of

period will last as it depends on what interest rates do over the

listings under contract at this time of year should

next few months, but home buying just became fun again.

be around 10,000, putting today’s count of 8,680

What's your favorite way to keep cool in the Arizona heat?

LAURA: What better way to beat the heat than with a refreshingly cold shaved ice!?

My husband and I fell in love with this sweet treat in Hawaii. If you can't make it to Maui, check out Mahalo Made (1215 E. Missouri Ave., Phoenix, AZ 85014) to satisfy a craving!

well below normal.

Windy Walk Estates at Troon Village

Welcome home to this modern desert dwelling centered around views of Pinnacle Peak from the front and up-close Troon Mountain to the back. Front entry glass doors and clerestory windows allow for superior natural light in the great room which features a gas fireplace with floor to ceiling tile surround and stone mantle. Wide plank French oak floors and Eramosa porcelain tile throughout. The kitchen is an entertainer's dream with Subzero and Wolf appliances, custom tile backsplash, Woodcase European Fine Cabinetry, and a custom centerpiece stainless steel hood vent. Enjoy the Artisan home automated system with security, Sonos stereo speakers, pre-wired motorized shades, Control 4 and Lutron lighting throughout.

10667 E Yearling Drive, Scottsdale, AZ 85255 4 Bed + Den | 4.5 Bath | 4,154 SQ FT | 3-Car Garage

coming: longer marketing times, negotiations, price reductions, tours, staging and repairs

FOR SELLERS: The proverbial “Dump Your Junk” season is over, that loving phrase the industry uses when demand is significantly higher than supply and even the smelliest, dilapidated property gets multiple offers over asking

price. That is no longer the case as of this writing. Get ready for longer marketing times, price reductions, Realtor® tours, price opinions, staging, repairs, seller-paid closing costs and price negotiations. The extreme seller market is over.

It’s no surprise that the market has been shifting since February, with the primary influence being large mortgage rate increases. However, over the

the most influential market shift: large and volatile mortgage rate increases and fluctuations

since March price reductions have gone up 500% but have not increased demand

In the meantime, a 220% increase in supply over the past 15 weeks has put pressure on sellers to cash

compete. buyers

With offering

significantly below list price recently,

attention

is

back

on

traditional buyers, many of whom have been priced out of the market due to so many cash buyers. Price reductions have gone up 500% since March, but have done little to increase demand as mortgage rate increases offset their effect and continue to keep payments high.

Arizona State Fair

Immersive Van Gogh Exhibit

September 23rd - October 30th | AZ State Fairgrounds 1826 West McDowell Road, Phoenix, AZ 85007

Opening July 29th | Lighthouse Artspace, Phoenix 4301 North Scottsdale Road, Scottsdale, AZ 85251

Fried foods and amusement fair rides are now officially back on the

The Immersive Van Gogh Exhibit at Lighthouse Artspace is

calendar for Fall 2022 in Phoenix! The Arizona State Fair will open

an art installation that features massive moving projections

a week earlier than in past years, beginning on Sept. 23. Fairgoers

of the renowned painter’s work. Get ready to be transported

will get the chance to enjoy a variety of entertainment including

the second you step inside. Created by Italy’s digital artist

concerts, monster truck shows, rodeo events and figure-eight

Massimiliano Siccardi, the touring show opens July 29 at

racing. Tickets are now available for purchase at AZStateFair.com.

with prices starting at $39.99. VanGoghPhx.com

LISA: My favorite way to stay cool in the heat is swimming and relaxing in our pool.

The sound of the cascading water over the negative edge is so soothing.

Floating in the water feels like I’m in a hammock and I could be anywhere!

MATT: We usually have a cool breeze blowing. I enjoy reading a good book on the back patio in the shade. What I'm reading now: The Splendid and the Vile, by Erik Larson.

A NEW LOCATION! Chula Seafood and its many-splendored oceanic options — the poke bowls, the confit tuna sandwich, the Hatch chile tuna melt, the CA burrito, the chowder, the oysters, the daily specials — then you’ll be thrilled to know there’s a third location is in the works.

The new Chula will be in the former Hi-Health space in Hayden Peak Crossing at Hayden and Thompson Peak Parkway.

While each location will offer the same menus, each will also have its own food features.

ChulaSeafood.com

INVENT YOUR SCENT Did you know that the sense of smell is the most sophisticated of the five senses, and the sense most closely tied to memory? With over 100 fragrances to choose from, the possibilities are endless at Candle Chemistry! Create your own custom soy candle or body product with a scent all your own!

Pour on in, no reservations needed!

Or, book a party with friends to celebrate a special occaision.

CandleChemistry.com

RECENT

activity

offered at

$1,695,000

Desert Summit 11547 E Cavedale Drive, Scottsdale, AZ 85262 5 Bed + Den | 4.5 Bath | 3,869 SQ FT | 3-Car Garage

When it comes to the North Scottsdale lifestyle and area real estate, The Luckys are proud to be the eminent source for their clients.

With 100s of millions of dollars in sales under their belts, The Luckys are honored to be reputed as the most proficient and skilled in the industry.

just sold

$3,500,000

LISA LUCKY

Glenn Moor at Troon Village 10801 E Happy Valley Road #4, Scottsdale, AZ 85255 5 Bed | 4.5 Bath | 5,371 SQ FT | 3-Car Garage

pending at

602.320.8415 Lisa.Lucky@RussLyon.com

MATT LUCKY

$985,000

480.390.0445 Matt.Lucky@RussLyon.com

Real Estate Corner: Seller Market is Officially Over!

Here’s What to Expect

Desert Diamond 28022 N 112th Place, Scottsdale, AZ 85262 3 Bed | 3 Bath | 2,000 SQ FT | 2-Car Garage

Keeping Cool in Arizona's Summer Heat

LAURA LUCKY 480.390.5044 Laura.Lucky@RussLyon.com

Scottsdale Events Around Town

offered at

$2,150,000

Desert Crown 28448 N 114th Place, Scottsdale, AZ 85262 3 Bed + Den | 3 Bath | 3,045 SQ FT | 3-Car Garage

Laura, Matt, and Lisa Lucky 602.320.8415 | Lucky@RussLyon.com View more luxury listings at LisaLucky.com 7669 E Pinnacle Peak Road, Suite 110, Scottsdale, AZ 85255

View our luxury listings at LisaLucky.com