New Home Communities at Phoenix.org June 17, 2018 by Times Media Group

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

New Home Communities TAKE THE PLUNGE

BUILDING A POOL ALONG WITH A HOUSE CAN SAVE BIG BUCKS

BY SHERRY JACKSON

Inside

ith our hot summertime temps, it’s definitely pool season in Arizona. New home builders face a multitude of decisions, like whether or not to build a pool now or wait until after the house is built. Well, we’ve done the digging and asked experts for their thoughts. “There are many reasons to take advantage of putting in a pool when building a new home,” said Jeff Ast, president, Shasta Pools. “Oftentimes the pool can be excavated with a normal track hoe and a dump truck right in the back yard. If you wait until after close of escrow, in some cases we have to use smaller equipment to excavate. This can add a large increase in excavation costs due to the additional time it takes to build.” Nick Wright, vice president of operations for Shea Homes Arizona, agreed. “Most buyers just want to move in and have everything complete with no stress or construction,” he said. “When the pool is built at the same time as

INTRODUCING BY SHERRY JACKSON

eaturing tree-lined streets and 63 oversized homesites in a gated community, Maracay Homes’ newest subdivision, Marathon Ranch, celebrated its grand opening in early June. The new community is located at the southeast corner of Riggs and Val Vista in Gilbert. Marathon Ranch has a secluded tree-lined entrance that welcomes guests into the walkable community with neighborhood amenities encouraging community interaction. Residents can choose to play a game at the horseshoe or basketball courts, take the kids out for some fun at the shaded

PHOENIX.ORG NEW HOME COMMUNITIES

your new home, equipment isn’t going to damage any landscaping. It all finishes up at the same time.” That means saving money. “Homes are getting tighter with smaller side and back yards. If we have to use smaller equipment, it can add $3,000 to $6,000 to the cost of the pool,” Ast said. Fencing and block walls may also need to be removed, adding to the cost. New homeowners also need to think about financing. With the average

cost of a pool in Maricopa County at $42,000, a typical rule of thumb is that the pool cost should stay within 10 percent of the cost of the home for mortgage qualification, Ast said. “First mortgage rates and terms traditionally are more favorable than secondary financing,” Wright added. “It’s all about the monthly payment,” Ast said. “Typically, people are staying in their homes eight to nine years. That See

Pools on page 7

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MARATHON RANCH tot lot and ramada, or bring together friends and family for a picnic at the turf play lawn with barbecue grill. The community also has direct access to the future Marathon Trail that connects walkers, joggers and cyclists to Gilbert’s Central Trail System, featuring 135 miles of intersecting paths weaving through the town and most of its parks. “Maracay Homes is keen on the East Valley and all that it has to offer to Arizona homebuyers,” said Andy Warren, president, Maracay Homes. “Marathon Ranch’s central location in Gilbert means residents will have access to the best that this vibrant region has See

Marathon Ranch on page 2

(Photo courtesy Maracay Homes)

Prospective buyers at Marathon Ranch can choose from four single-story floor plans.

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

THE DEALMAKERS BY JIM BELFIORE AND JORDAN ROSE

nyone who owned a home a decade ago knows a little something about how housing values can fluctuate. Prior to 2006, most U.S. homeowners thought home values went only one direction: up. Sure, some years prices moderated, but generally, they went up 3 percent to 5 percent, and in some years, like in 2004, 2005, and 2006, they went way up. Few expected values would crash by 30 percent to 50 percent (or more!), as they did from 2006 to 2011. Homeowners are now just recovering from the debacle known as the bursting of the housing bubble. We can blame both the run-up in home values in the early 2000s and the decline from 2006 to 2011 on “easy” credit. Lenders, supported by politicians with the notion that homeownership was good for everyone, eased credit requirements and lowered down payments for homebuyers. Blemished credit mattered less than it previously had, and thus more people qualified to purchase homes than had previously been able to qualify. In the early 2000s, you may even

Marathon Ranch from page 1 to offer — including a wide variety of recreational and employment opportunities — while enjoying the rural nature of the area.” Four single-story floor plans are available ranging from 3,432 to 4,345 square feet. Homes are large, with four to six bedrooms, three to 5.5 baths,

MORTGAGES: COME FULL CIRCLE?

recall driving around and seeing signs advertising “no money down” in front of new home communities; these signs were plentiful. The so-called “subprime” mortgage was made to buyers that had, as the term itself suggests, lesser quality credit than “prime” buyers. To further accommodate these buyers, many lenders lowered down payments or eliminated the requirement altogether. Why would subprime mortgages be problematic, after all? Home values had only

gone up for decades upon decades. Lenders seemingly “learned” something as the housing bubble burst, as they took back homes. Giving loans to subprime buyers was a lot riskier than approving loans to prime buyers. Further, buyers with little to no equity

in their biggest investment were far more likely to default on repayment than buyers putting down 20 percent or more of the cost of a home when buying. From 2008 to 2012, the mortgage industry reeled as it repossessed hundreds of thousands of homes and resold those homes at prices lower than the mortgage debt remaining on the loans they had placed. Lenders, in turn, made it a lot tougher to attain a home loan, increasing FICO-score requirements and down payment requirements. They checked and double-checked income and debt, trying to limit downside risk. The mortgage market is again undergoing change. Home prices have been appreciating for several years now, and lenders are again easing mortgage underwriting standards and lowering down payment requirements. We are not, though, back to the heyday 2000s. Attaining a mortgage is certainly easier to attain than it was six years ago, but it is harder to secure than it was in 2005. Documentation requirements are more significant and FICO scores must be higher than was required back then. Getting a loan with no down payment is certainly possible, but even this is more difficult to find;

four-car garages and expansive great rooms and kitchens. Homesites are up to one-quarter acre. Prices begin in the low $500,000s. All homes at Marathon Ranch will be registered with the U.S. Green Building Council (USGBC), a third-party rating system that verifies compliance across several areas addressing sustainability, with the goal of earning the LEED

Certified designation. Designed to use 30 to 50 percent less energy than typical homes, each home is expected to meet the EPA’s Indoor airPLUS specifications, and will feature water-efficient fixtures, LED lighting, energy-efficient heating and cooling systems, Energy Star appliances, tankless water heaters and Wi-Fi enabled, programmable thermostats. Marathon Ranch may feel like a rural

JIM BELFIORE JORDAN ROSE more likely, a buyer purchasing a home under $294,515 in most Arizona areas will find an FHA loan attractive with a 3.5 percent down payment. Most lenders now require at least 5 percent down to purchase. Exceptions exist but you will not see the billboards advertising “no down payment” as you drive around new home communities these days. With housing prices rising and mortgage rates still low (by historical standards), it is a great time to consider buying a home, but don’t expect to do so with poor credit and no down payment. Lenders seem to be wiser from their experience. Thank goodness! Jim Belfiore is president of Belfiore Real Estate Consulting. Jordan Rose is president of Rose Law Group. community tucked away from the rush of daily life, but residents will enjoy easy access to Gilbert’s highly rated schools within the Chandler Unified School District, Gilbert’s downtown entertainment district and major Valley employers via the Santan Freeway. For more information about Marathon Ranch, visit maracayhomes.com or call 480-448-8998.

Experience you can count on. Belfiore Real Estate Consulting is Arizona’s leading, independent real estate research firm. The company provides data products and advisory services to those tracking current market trends- whether at a macro Metro Phoenix, Metro Tucson, or Northern Arizona level or within a particular community or specific competitive market area. Leading homebuilders, developers, appraisers, brokers, lenders, title companies, landscape management companies, retailers, and investors rely on Belfiore’s stats and projections.

As a full-service firm, Belfiore’s Team of analysts produces off-the-shelf advisory and data-tracking products, as well as Custom Market Feasibility Studies and Asset Management Reports. Clients have access to award-winning, comprehensive, webbased software that contains five distinct pricing metrics for actively-marketed Arizona communities, incentive levels, inventory levels, lot information for inactive, planned pipeline communities, land and lot sales comparables, and much more.

Analysts visit and update data within every new home community in the Phoenix-area, Tucson-area, and Northern Arizona a minimum of six times annually, updating information with the company’s proprietary software. 3930 E. Ray Road, Phoenix, AZ 85044 480.706.1002 belfioreconsulting.com

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

DESIGN BY D.L. MITCHELL

t’s hard to imagine anyone wishing for a smaller master bedroom closet. The architects and designers at Toll Brothers believe the same thing. Simple walk-ins, an extravagance of yesteryear, have consistently increased in size and storage capacity. Today, the trend is toward showcase spaces and stylish dressing rooms, amped up on size, functionality and beauty. “Master suite closets have evolved into true luxurious living spaces,” said Kevin Rosinski, Toll Brothers Arizona Division senior vice president. “They’ve come out from behind closed doors and are a very popular home design feature.” For example, Aracena at Calliandra Estates in Gilbert has a boutique-like dressing room, purposefully designed for an on-the-go fashionista who covets convenience and class, not to mention a staging area for Instagram images. To enlighten and liven up the space, this multifunctional room has white finishes and custom built-ins with upscale hardware, accented with glass and mirrors, adding to the glam factor. A contemporary chandelier sets the tone, and professional lighting design throughout adds to the allure, making it easy to differentiate the blues and blacks or for putting together the perfect ensemble from head to toe.

STYLISH DRESSING ROOMS ARE TRENDY There’s a ruffled, neutral pink sitting area, a television and an abundance of built-in dresser top space for, well, everything that anyone would typically have in a master bedroom closet. Not commonly found in the master bedroom closet is the stackable washer and dryer. “When it comes to a master bedroom closet doing double-duty for dressing, more is more,” Rosinski said, adding Toll Brothers homebuyers can personalize their homes based upon their desires. Toll Brothers recognizes many men appreciate a well-organized closet as much as women do. For couples who prefer their own spaces, Toll Brothers has his and her closets in many of its home designs. Another popular closet trend is shown at Toll Brothers at Verde River, a new home community in Rio Verde. Instead of a walk-in, the Rio Verde model has an angular, walk-through closet running the length of the master bedroom. With a rich wood finish, contemporary hardware, custom lighting design and a plethora of hanging as well as drawer storage areas, it’s private and impeccable. Personalized custom closets and dressing rooms are available at all Toll Brothers new home communities in Arizona. For additional information, visit tollbrothers. comm/luxury-homes/arizona. Aracena – Calliandra Estates in Gilbert has a boutique-like dressing room that has the perfect spot for Instagram images. (Photos courtesy Toll Brothers)

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

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Phoenix.org

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4 bed, 3 ba/2,543 SF/3 car garage — Split floor plan can convert to up to five bedrooms. Plenty of storage and workspace built in. Front courtyard brings the outdoors in, and provides a peaceful sanctuary. This is the perfect combination of luxury living and soothing retreat.

4 bed, 3.5 ba/3,282 SF/4 car garage — Thoughtfully designed for today’s active family. Living spaces encourage family interaction, with a gourmet kitchen opening up to an expansive great room. A four-car garage gives you a place for cars, bikes, sports gear and more.

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3 bed, 3.5 ba/2,564 SF/3 car garage — This is a uniquely designed home. Master suite features an expansive bathroom and walk in closet. Full baths in each of the remaining two bedrooms provide plenty of privacy. Enclosed courtyard, designated hobby room and three-car garage.

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$272,000 to $368,000 Condo 2 bed, 2 ba/1,432 SF/1 car garage — Charming single level condo. Covered patio for outdoor dining and entertaining. The master suite comes with a full bath and a roomy walk-in closet. Easy route to the community pool for those who like to enjoy a little fun in the sun!

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Hard work. Speed. Unmatched dedication. Rose Law Group pc is a full-service real estate and business law firm practicing in and use, zoning, renewable energy, government relations and lobbying, administrative law, family law, transactional real estate, employment law, water law, Native American relations, ADA compliance, infrastructure finance, special districts taxation, business formation/corporation transactions, business litigation, cannabis law, school law, cyber-defamation, cyber-privacy, drone law, intellectual property, estate planning, asset protection, private

litigation, class actions and DUI’s. Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work. We are honored to represent the top homebuilders, developers, solar companies, schools, businesses and cannabis companies in the country. We are attracted to successful

companies, and they to us because we know our role – to use the law and our creativity to help them achieve even greater success. We are a team motivated to make our clients team even better. We are a team energized by quick and positive resolution to complicated problems. 7144 E. Stetson Drive, Suite 300, Scottsdale, AZ 85251 480.505.3936 roselawgroup.com

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

East Valley Communities 87 202

McKellips Rd. Pima Rd.

MESA

Brown Rd.

TEMPE 60

Ellsworth Rd.

Power Rd.

Recker Rd.

Higley Rd.

Greenfield Rd.

Val Vista Dr.

Lindsay Rd.

Gilbert Rd.

Stapley Rd.

Southern Ave.

Mesa Dr.

Dobson Rd.

Broadway Rd.

Main St. Country Club Dr.

University Dr.

Alma School Rd.

44th St.

Scottsdale Rd.

101

40th St.

Thomas Rd.

GILBERT

McClintock Dr.

Rural Rd.

Kyrene Rd.

Priest Dr.

Guadalupe Rd.

Warner Rd. Ray Rd.

Chandler Blvd.

Williams Field Rd.

CHANDLER

Pecos Rd.

Queen Creek Rd.

Cooper Rd.

McQueen Rd.

Arizona Ave.

Ocotillo Rd.

SUN LAKES

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QUEEN CREEK Chandler Heights Rd.

Riggs Rd.

MARICOPA

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Germann Rd.

Power Rd.

202

Ritt enh

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

TECHNOLOGY BY SHERRY JACKSON

echnology for the home isn’t relegated to between the walls. With an almost year-round outdoor entertaining season, more homeowners are spending big bucks on outdoor kitchens, grills and furniture to enhance their outdoor living space. From robots that clean grills, apps that indicate when hamburgers are done to outdoor wine coolers, there are new products that can keep homeowners on top of their outdoor living game.

Infrared Grill by Char-Broil

According to the Hearth, Patio & Barbecue Association, seven in 10 U.S. adults own a grill or smoker. If you still have an original charcoal grill, maybe it’s time to look at an upgrade. Of course, there are a lot of choices—but one of the newest options is an infrared, Wi-Ficonnected grill. In January, Char-Broil announced its SmartChef TRU-Infrared Gas Grill. The Wi-Fi-connected grill delivers real-time alerts to smart devices and has stateof-the-art monitoring and controls. A recipe library connected to the grill has plenty of options and the grill even lets home chefs know when it’s time to flip the burgers. The TRU-Infrared cooking technology allows consumers to cook food evenly and receive up to 50 percent juicier results packed with even more flavor. “Having a guided cooking experience inspires grilling techniques and gives consumers freedom to learn how to build their craft,” said Brendan Anderson, vice president, marketing and product management at Char-Broil. “For Char-Broil it’s all about creating a better product and that includes smart technology, too.”

OUTDOOR COOKING EASIER THAN EVER thermometer that monitors the meat’s temperature and will notify the griller when the food is done cooking. It has a suggested retail price of about $50.

Grillbot

Have you ever looked at your grill after a cookout and said, “Yuck, I really don’t want to clean this”? Cleaning up after a grilling is never fun, but the robotic Grillbot makes it easier. Simply place the device on the grill, turn it on and watch it do all the work. The Grillbot has three motors, a computer that regulates speed and direction, a rechargeable battery and built-in alarm and timer. It’s also available in four colors (black, red, blue and orange) and has three dishwasher-safe replacement brush packages (brass, stainless steel and

Weber iGrill Mini

If you’re old-school and don’t have a Wi-Fi-enabled grill, don’t despair. The Weber iGrill Mini is an app-connected

(Photo courtesy Grillbot)

the company said on its website. “A cool, icy breeze is then dispensed in the direction of the user’s choosing.” An optional battery pack provides additional hours of cooling.

Hestan Outdoor Dual Zone Refrigerator with Wine Storage

As outdoor kitchens become more elaborate, no longer is a simple outdoor refrigerator enough. The newest innovations are in outdoor wine storage, so wine bottles will always be at our fingertips. The Hestan Outdoor Dual Zone Refrigerator has UV coated doors keeping out harmful sunlight, two independent temperature zones for storing red and white wines and full-extension wine racks that will keep wines safe from vibration.

The SmartChef TRU-Infrared Gas Grill by Char-Broil delivers real-time alerts to smart devices and has state-of-the-art monitoring and controls.

Timberline 1300 by Traeger

If you prefer a wood-fired grilling experience, Traeger’s Timberline 1300 pellet grill is top of the line. Deemed the “Ferrari of outdoor grills” by Food Republic, the grill features a super smoke mode and a “do it 20 percent faster” mode with its TRU Convection system. The Wi-Fi controller will change temperatures, set timers and access recipes from a smartphone with the Traeger app.

The Grillbot makes cleaning the grill easier.

(Photos courtesy Char-Broil)

nylon). Additional “skins” can also be purchased to customize the look of the Grillbot.

Icybreeze

As seen on ABC’s “Shark Tank,” the Icybreeze is touted as the “world’s first portable air conditioner and cooler.” The cooler works by sending water through a heat exchanger in the lid. Fresh air is drawn in from hidden vents in the top of the cooler, pulled across the exchanger, and chilled down to 35 degrees below the initial temperature,

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018

BY SHERRY JACKSON

aylor Morrison Home Corp., which is based in Scottsdale, agreed to purchase AV Homes earlier this month for $963 million. Taylor Morrison has multiple subdivisions in progress including Adora Trails in Gilbert and Eastmark in Mesa. AV Homes also is building at Eastmark. AV Homes builds homes and develops communities in Florida, the Carolinas, Arizona and Texas. Its principal operations are conducted in the greater Orlando, Jacksonville, Phoenix, Charlotte and Dallas-Fort Worth markets. The company builds communities that serve active adults (55 years and older) as well as people of all ages. Taylor Morrison is a leading national homebuilder and developer of residential communities in Florida, the Carolinas, Arizona and Texas and operates under two well-established brands, Taylor Morrison and Darling Homes in Texas. Communities include first-time, move-up, luxury and 55-plus buyers. “The joining of Taylor Morrison and

Pools from page 1 means they’re only paying for the pool for that time with their mortgage payment and might end up only paying for one-third of the total cost of the pool.” Another consideration is that many Valley homebuilders work with their own “preferred” pool builder. These arrangements make it easier for insurance, permitting and schedule coordination but may limit options for homebuyers. If building a pool at the same time as the new home, pool construction generally begins at the stucco phase, about 75 to 80 days after the start of the home. There are varying degrees of how much of the pool can be built, depending on the homebuilder. Some builders will allow the hole to be dug and then

TAYLOR MORRISON TO ACQUIRE AV HOMES AV Homes supports our strategic growth priority by bringing us deeper into five of our current markets, adding Jacksonville to the portfolio, and further expanding our offerings in the affordable first-time buyer and active adult consumer segments,” said Sheryl Palmer, chairwoman and CEO of Taylor Morrison. “This transaction, subject to customary closing conditions, will serve as a means to further enhance our land pipeline in the right locations, potentially offsetting some future land purchases, while simultaneously delivering land to our homebuilding operations with mature communities. What’s more, we believe the commonalities in product offerings and consumer groups will create opportunities for scale efficiencies and enhance our national footprint while creating top and bottom-line performance improvement.” Taylor Morrison will acquire all outstanding shares of AV Homes common stock at $21.50 per share in a cash and stock transaction valued (including outstanding AV Homes debt) at approximately $963 million.

hold until close of escrow. Others will allow the pool builder to construct the foundation of the pool and then hold. Shea Homes, Wright said, allows the pool to be “swim ready,” which means the pool will be completed, filled with water and maintained until the homeowner gets their keys. “Picture jumping into a cool refreshing pool in between hauling boxes and furniture at moving day,” Ast said. Even with all the advantages, only about 25 percent of homeowners end up building a pool at the same time as a new home, Ast added. There are a lot of reasons why: Some simply don’t want a pool, others may not have the additional money to spend. But its important for new homeowners to weigh the pros and cons and decide what makes sense for their needs.

The transaction has been unanimously approved by the boards of directors of Taylor Morrison and AV Homes and will be submitted to the stockholders of AV Homes for approval. The transaction is expected to close late in the third quarter or early in the fourth quarter of 2018 and the closing is subject to customary closing conditions.

The acquisition is expected to allow Taylor Morrison to grow its affordable active adult product offerings in Orlando, Phoenix and Raleigh to complement existing Taylor Morrison communities, expand into the more affordable, firsttime buyer segment and significantly increases scale and market share in five major housing markets.

Sonoma Smoker

B E S T. D E C I S I O N . E V E R .

Top 5 things to remember when customizing a new home • Stay within a budget • Choose colors that are complementary to each other • Take photos or get brochures for the choices you’ve made

so you remember • Make needed structural changes before the home is built • Don’t stress! Take your time.

MESA | SCOTTSDALE F E RGUSON S H OWROOM S .COM

BUSINESS

THE SUNDAY EAST VALLEY TRIBUNE | JUNE 17, 2018