real estate corner

A New Drum Beat In The Real Estate Market

Take a look at the monthly average sales price per square foot in the following daily chart. The latest average is over $279, meaning the highest pricing during the last 6 months was recorded on April 10th.

Ballantrae Ridge at Troon Village

This stunning home located in guard-gated Ballantrae Ridge in Troon Village boasts incredible views of the Troon Country Club driving range, Pinnacle Peak, and panoramic city lights. The unique floor plan features two owner's suites. The interior is truly impressive, with classic finishes such as arched solid wood doors, engineered hardwood and porcelain floors, dramatic fireplace, vaulted ceilings and wonderful natural light. The chef's kitchen features top-of-the-line Dacor appliances and plenty of space for entertaining. Relax on the private back patio and take in the breathtaking views, built-in barbecue, and heated spa. Ballantrae Ridge offers a range of amenities, including clubhouse, pool, and fitness room, making it an ideal community for those seeking luxury and convenience.

25150 N Windy Walk Drive 39, Scottsdale, AZ 85255

3 Bed + Den | 4 Bath | 3,739 SQ FT | 2-Car Garage

Although the dip between November and January was a bit scary, the recovery in price has been equally strong since then.

Volume is well below normal, with both sellers and buyers lacking enthusiasm, but prices are buoyant and in even better shape than we expected. With the Cromford® Market Index still moving higher, our expectation is that prices will continue to edge higher in the next few months. I would not have strong expectations for the third quarter because we almost always see a 3Q dip in every year. This is due to the seasonal effect on the luxury market. Unless we get an unexpected source of new supply, the fourth quarter should show a rebound from that dip, meaning that annual appreciation will have turned positive again by November. To that end, I have a new drum beat - sourced from what our best short and long term indicators are telling us:

SHORT TERM: Look for continued improvement this year, barring systemic external forces. (interest rate hikes, currently in the 6-ish range, well below the 50-year average)

LONG TERM: Our bank grade 5-year forecast 'sees' a flattening of prices in the Valley over the next 5-years'...and here comes the punchline:

'May that 5-year forecast hold - as it sustains the massive equity / appreciation that has been accrued in recent years.'

FOR SELLERS: Seller gains will not only be sustained, but may see some additional gains in the short term.

FOR BUYERS: It suggests that while buyers may have missed that massive appreciation, their purchase of a home as an asset makes sense, as it always has from that 'asset' perspective.

The Rite Of Spring

May 16 - June 3

Desert Botanical Garden BalletAZ.org

TODAY'S BUYERS ARE NOT JUST SHOPPING FOR A HOME, THEY ARE SHOPPING FOR A LIFESTYLE.

One request we hear daily is where or when can I play golf, or how can I join a club? A challenge we are facing in Real Estate market today is the desire of Buyers to start enjoying their golf lifestyle immediately upon occupancy. The waitlist for golf club memberships remains high throughout the North Scottsdale Area. There are a few neighborhoods where you can join the club immediately upon purchase, such as Desert Highlands. But while you patiently wait for your golf membership to open up, here are a few amazing public golf courses you can get started on!

ENJOY THESE PUBLIC GOLF COURSES NEARBY:

• Legend Trails

• The Boulders (South, North)

• Troon North (Pinnacle, Monument)

• Grayhawk (Raptor, Talon)

• TPC Scottsdale (Stadium, Champions)

• Westin Kierland (Ironwood, Acacia, Mesquite)

• Wildfire Golf Club (Faldo)

• Talking Stick (O’Odham)

• Camelback Golf Club (Ambiente)

• The Phoencian

• Eagle Mountain

• SunRidge Canyon

• We-Ko-Pa Club (Saguaro, Cholla)