Live Beautifully | September 2023

Real Estate CORNER

September Deep Dive

September is here, and we’re likely to see an increase in inventory and buyer activity, plus we typically see a boost in buyer activity when temperatures drop below 100 degrees.

Relax in the serene backyard, offering panoramic views of the stunning Sonoran Desert, McDowell Mountains and distant Four Peaks.

Luxury Living Meets Natural Splendor

Welcome to this exquisite newly built home nestled within the premier community of Sereno Canyon. The customized Fleming floor plan is enhanced with an expanded attached casita. The exterior spaces are inviting with a pool and integrated negative edge spa and water feature, built-in barbecue and fridge, elevated wood gazebo with fire pit, and designer metal fencing maintaining the remarkable views, all from one of the larger 2.3 acre lots. The residence is grand, graced with dramatic 12-foot+ ceilings in the main living areas. The luxurious gourmet kitchen featuring an oversized island, Crafted cabinets with crown molding and designer stainless steel appliances.

SERENO CANYON

24679 N 124th Street, Scottsdale, AZ 85255

4 Bed Primary Retreat + Casita Quarters |4.5 Bath

4,535 SQ FT | 3-Car Garage

“Once we get to the end of September and it starts to cool down, the luxury market will be fully contributing to the price numbers again and we will probably be reporting positive annual appreciation once more.”

If you’re thinking about buying or selling, this can be a great time. Buyers are excited to see an increase in inventory. Sellers will see an increase in buyer activity plus increased inventory so they can find their next home. Many sellers have been sitting still due to worries that they won’t find a home to move into. Hold on to hope that we should see some opportunities increasing this month. Sellers are also reluctant because of increasing interest rates. The ability to predict interest rates is beyond my scope and while so many economists thought we’d see some relief by this summer/fall, it is yet to be seen. We’ve had a few dips, but then they bounce back.

Because inventory has been low, sales have also been low and oftentimes people assume that prices will fall and we’re going to have a bubble. Note the quote below from the Cromford Report after the July data was posted.

“Some badly informed observers still think there is a bubble popping situation ahead, but they completely misunderstand the situation. For prices to fall, we have to have an excess supply compared to demand. Even though demand is very weak, supply actually got 2.6% smaller over the last month. There is very low delinquency in residential real estate lending right now, so it takes a ridiculous leap of great imagination to believe that foreclosures are going to have any significant effect on supply in the foreseeable future.”

UMOM's Buckles & Bangles Gala

Friday, October 13th Fairmont Scottsdale Princess UMOM.org/gala

REAL ESTATE DATA AS OF August 1, 2023:

•Active Listings:

11,241 versus 17,957 last year –down 37% – and down 2.6% from 11,545 last month

•Under Contract Listings:

7,546 versus 8,058 last year –down 6.4% – and down 4.0% from 7,858 last month

•Monthly Sales:

5,906 versus 6,190 last year –down 4.6% – and down 21% from 7,452 last month

End family homelessness by restoring hope and rebuilding lives

Our programs are built around a simple formula: jobs + housing = ending homelessness. We work hand-in-hand with every person we serve to solve that formula alongside them. From emergency shelter to affordable housing, UMOM offers a full slate of vital services, rooted in a foundation of trust and proactive support.

Please support us today. To learn more, visit UMOM.org.

Fall is right around the corner. (Finally!)

communityCONNECTION Lucky Loves

If you feel like your home deserves a little refresh, the Luckys share their favorite places to find unique home furnishings. One piece or a whole room? You choose!

New& NOTABLE

A TASTE OF TEXAS

I always visit CAI Designs, known for innovative and trendsetting furnishings. Their distinct selection sets them apart from other retailers. Besides interior design, they also feature a noteworthy collection of outdoor furniture. CAI Designs may not be a sprawling store, but they consistently introduce fresh and intriguing items, ensuring a captivating shopping experience! CAIDesigns.net

MATT

I have two favorite furniture stores! Potato Barn is a top choice for distinctive pieces with a lot of character, often leaning towards an eclectic or rustic farmhouse style. ThePotatoBarn.com

My second choice is Arhaus. They offer a wide range of design styles, and their customer service is exceptional! Arhaus.com

My go-to furniture store for outdoor furnishings is All American Outdoor Living. Our outdoor furniture has become an integral part of our daily routine. We relax on our patio while soaking in beautiful sunsets and picturesque golf course scenery. Comfort and resilience in the scorching summer heat make it our top choice. AllAmericanOutdoorLiving.com

A Ghostly Gala October 16th & 17th

Cooper's Hawk Winery & Restaurant CHWinery.com/wine-club/ special-events/a-ghostly-gala

Tires & Timepieces

Saturday, October 28th

Hamra Jewelers Hamra.com/pages/events

The Federal American Grill is a Houston-based restaurant that will establish roots in the Valley at the Scottsdale 101 Shopping Center this fall. The informal steakhouse and seafood restaurant pairs USDA Prime Ribeye and Chilean Sea Bass alongside bourbons and beers. The Phoenix location will serve their core offerings, but mixed with local flavors and trends.

TheFederalGrill.com

NEW AMERICAN CUISINE

Sitting in the shadow of Tom's Thumb and the McDowell Mountains, Alterra a The Mountain House Lodge at Sereno Canyon is open to the public. Alterra is a fusion of traditional American and international cooking techniques thoughtfully crafted from locally sourced ingredients. Paired with a full-service bar, you can dine with a view from the Four Peaks Patio or enjoy an intimate indoor dining experience.

MountainHouseLodge AtSerenoCanyon.com

LISA

LAURA