The Scottsdale Real Estate Files: Arizona: Phoenix

Just Listed in Phoenix: Biltmore Beauty!

Welcome to the Biltmore, destination of choice in Phoenix, Arizona for year-round and seasonal residents alike.  Home to some of the most luxurious Real Estate in the Valley of the Sun, there are cost effective options to be had in this stately gated community just east of 24th Street between Lincoln and Camelback Rd.

Located within The Colony Biltmore subdivision, this approximately 2100 square foot patio home, sits on a premium culdesac lot which sides to common area and the golf course beyond ($60,000 premium per the county assessor).  The view from the rear patio is simply spectacular.

Features include 3 bedrooms, 2 baths, stone fireplace, private spa, 2 car garage, great room with vaulted ceiling, built-in entertainment center and custom wetbar, saltillo tile flooring and appealing contemporary architecture.  The kitchen has been tastefully remodeled with granite counters and stainless steel appliances.  All of the living space is on one level with the exception of an upstairs den/office.  In addition to a jacuzzi, the back patio includes a built-in BBQ and flagstone planters.  Golf course views not enough for you?  How about mountain views as well?

This is Arizona living!

Minutes from the finest restaurants and shopping in all of Phoenix.

Complex features include the aforementioned golf course, tennis courts and a manned guard gate.

 

Phoenix Patio Home For Sale at the Colony Biltmore   The Colony Biltmore - Great Room

The Colony Biltmore - Kitchen  The Colony Biltmore - Jacuzzi

The Colony Biltmore - Breakfast Bar The Colony Biltmore - Hallway The Colony Biltmore - Built-in BBQ

Golf Course View at the Biltmore in Phoenix

 

Competitively priced at $539,000, this is the best value in the Biltmore!

 

Please visit us at Scottsdale AZ Real Estate to learn more about this home as well as our other featured properties.

 

The grey portion of the map represents the Biltmore Golf Course

Not a bad location, eh?

 

 

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Realty Executives

When the Distressed Deal is Just Too Distressed - Phoenix Home Builders in Trouble

As Phoenix area homebuyers look to cash in the winning lottery tickets in their hot little hands, it is worth noting that there is such a thing as biting off more than you can chew.  While market analysts and laypersons alike point to avarice as the primary machination that brought our economy to its current state, buyers need to be watchful that they don't get clobbered by the same pendulum that threatens to come careening back their direction.  As our populace accumulated far more Real property than it could actually afford at the height of the market, buyers today encounter a few substantial risks of their own.  First and foremost is the uncertainty of the status of the product they wish to buy at a deep discount.

This past fall, I was looking at a really sharp mid-century modern condo conversion project in downtown Phoenix.  Prices had come down considerably from their start point, and there were only a couple of occupied units amongst the 40 or so the development had in total.  We knew the opportunity existed to command a terrific bargain.  As a matter of fact, my jaw hit the floor when the developer later called me directly with an incredible offer on the unit my client found most appealing.  She loved the unit, I loved the price.  We were salivating.

And we passed.

I smelled trouble.  If the builder was willing to basically give the unit away to my client, what would prevent him from drastically cutting prices even further for future buyers?  The complex simply had "declining values" written all over it.  More to the point, however, I was concerned with the overall stability of the development.  I didn't want my client to move into a ghost town regardless of the price.

As it happens, our fears were well founded.  The complex, aside from the couple of units that sold a year ago, is now in the hands of the bank.  Lost to foreclosure, lord knows what will happen to the common grounds, let alone the individual units.  The poor occupants who jumped too eagerly must now worry that they will soon have squatters for neighbors and that their values and personal enjoyment of their homes will be further decimated.  As it stands, the prices on the units are now about 50% lower than the smoking deal we were offered back in the fall and declining as I type this.

I have seen too many builders pull out of developments, leaving the inhabitants with vacant lots and plummeting values for neighbors.  I'm not talking about mom & pop builders, either.  We're seeing formerly vibrant national builders circle the drain.

The long and the short of it is that you must protect yourself in this market by keeping an eye on more than the bottom line.  There are tremendous opportunities out there, but you must be dilligent in assessing the full situation.  Be aware of the risks you run when pushing for that little extra something in terms of price.  It's not always just about finding the cheapest thing that you can.

Even in this market, if it sounds too good to be true, it most likely is. 

There are resources at a buyer's disposal that can help you ascertain the stability of a builder or project.  I implore you to use them.  A good place to start is the Arizona Department of Real Estate, which features a list of home builders that are in financial trouble, tagged with mechanic liens or currently undergoing bankruptcy processes

By all means, use the current market to your advantage in commanding a great deal, just make sure that you are getting what you think you are stealing.

 

 

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To start your Scottsdale, Phoenix or Paradise Valley AZ home search, please visit our website today.

Ray & Paul Slaybaugh - Serving Scottsdale Since 1974

(And Not Above Exploiting the Cuteness of Small Children for Your Business)

(480) 948-9450

 

 

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As Temperatures Rise, Please Be Mindful of Your Children, Phoenix

 

Frankie was eating an ice cream cone when the world ended at precisely 3:14 PM PST. 

Perched upon the slightly too tall swivel stool that prevented his size four shoes from reaching the metal footrest, he raced the sun that beat down on his prize through the pane glass window for the last dripping remnants of rocky road.  His four year old mind was not equipped to appreciate the terrible irony of his selection.

The van was somewhere beyond the wall of light, but the glare prevented him from seeing it.  He wanted to move to a different seat, but his mother had told him to stay put while she used the restroom.  Already mad at him for not listening to her on the drive over, she would take his ice cream away and put him in timeout if he didn’t do as she said.

“I behave, Momma,” he squealed as he spun to meet the sounds of the familiar footfalls.  His eyes grew wide as she sat down with her own chocolate cone that contrasted wonderfully with the vanilla scented perfume she always wore.

“I have some!  I have some!”

“No way, Jose,” she offered in mock protest through a coy smile.  “This is Mommy’s.  You already had yours.”

Looking down at the sad, melted cone in his hand, he was cut off before his objection could even be vocalized.

“Tell you what,” she compromised, “I’ll let you have a bite of Mommy’s if you promise to be good on the way home.  Okay?”

“Okay, Momma!”

She handed Frankie the cone as she guided him to a seat away from the window.  She’d initially selected it to keep a watchful eye on the parking lot, but the western exposure ensured the futility of that plan.  The pair took a seat at a table in the middle of the Baskin Robbins, and she managed to wrestle her ice cream back with relative ease.

Frankie regaled her with tales of his day at preschool while she savored her indulgence.  Catching only one or two out of every four or five words, she had long since learned that his sentences didn’t necessarily constitute linear thought.  He tended to go the stream of consciousness route. 

More like a flash flood, she thought.

If he were to be believed, Miss Heather had apparently been a monkey and chased a tiger up to the sky in a choo-choo train made of feathers.  That’s what she heard, at least.  Dropping in a well timed “really” or “wow” where appropriate, she struggled to feign interest.  In truth, she was so consumed with her mental shopping list for dinner (chicken or salmon?) and the myriad chores she needed to finish before her husband returned home from his business trip that she wouldn’t have blinked if Frankie told her that his day had been spent running with scissors and sticking paperclips into the outlets.  The travel associated with John’s new position made things much more difficult, but she couldn’t really complain.  They were fortunate that he had been able to find work again so quickly after the layoff.  The same couldn’t be said of most of his former colleagues.

“Momma?”

“Oh, yes, sweetie?  Ready to go?”

She must have drifted off for a moment.

“I ready.”

“Okay, let’s get some for your sister for when she wakes up and then we can go.”

Stepping out into the brutal, shimmering heat of the concrete desert, she made her way to the tan Honda Odyssey with a paper bag in one hand and Frankie’s tiny hand in the other.  He stubbornly clung to his barren cone, probing its recesses with his tongue for one last sticky drop as he was dragged along behind her.

When they reached the minivan, it didn’t immediately register that anything was wrong.  She saw Darcy sleeping peacefully in her car seat when she looked through the window.  The smile that spread across her face froze instantly, however, when she realized the engine wasn’t running. 

As often happened, her baby daughter fell asleep on the way to pick Frankie up from school.  Ordinarily, they would go straight home, but she’d decided to stop for ice cream today on nothing more than a whim.  It was hot, and she’d felt guilty about how short tempered she’d been with the kids over the past few days.

The keys were still in the ignition where she’d left them, and the car had been purposefully left running.  Everyone knows that you don’t leave a child in a vehicle without the A/C running in the summer. 

“Oh my God!”

Not sure when the engine conked out, but knowing they had been inside for nearly twenty minutes, she frantically yanked at the handle of the back seat.  It wouldn’t budge.  Remembering that she had locked and armed the car by removing the alarm fob from the key ring, she fished in her purse until she found it.  Pressing it twice to unlock all doors, she tore open the door and reached for her baby.

“Darcy?  Darcy, wake up, honey!  It’s Momma, wake up, Darcy!”

“What’s wrong, Momma,” Frankie demanded.

She ignored him as well as the small crowd that was beginning to gather.

“Darcy!  Darcy, wake up!”

 

........................................................................................................................................

 

 

Every summer, children drown in Phoenix area pools and perish in parked cars.  It’s important to remember that these tragedies befall not only the criminally negligent, but good people who simply lose sight of the dangers for an instant.  Parents are overworked, tired, stressed and more preoccupied than ever.  This leaves us all more susceptible to poor decision making.  Let’s not allow the hardships that have befallen many of us to be the precursor to greater tragedy.  If I have learned anything over the past several years, it is that parenting is the one occupation that doesn’t allow you to let your guard down.  Not for a second. 

 

Let’s all remember our true priorities this summer and not permit one single child to perish from preventable causes.  Watch your kids around water and never, ever leave them alone in the car.

We can do this, Phoenix.  Not one child.

 

 

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Scottsdale Foreclosure Value of the Week (Special Road Trip Edition)

Dios Mio and Holy Guacamole!  The Scottsdale Foreclosure Value of the Week ... is in ... well ... Phoenix.  So I am violating the rules of my own construct, sue me.  When I tell you about this week's obscene value in the Valley of the Sun, you'll understand why I am willing to commute.

 

Scottsdale Bank Owned Properties or Sale

I spent the better part of the day yesterday looking at property in the South Mountain area for a specific buyer.  Odds are that we are going to move on one in a gated community in which properties were selling in the $1-1.5 million range just a couple of years ago.  When I say the South Mountain area, I mean it.  The backyards of some of these properties are the preserve.  The homes are beautiful, but it is the lots which are irreplaceable.

Between 3000-4100 square feet, these homes had lot premiums in excess of $500-600k in many instances when these were built in 2005-2006.

There are about 8 currently bank-owned and priced between $400-500,000.  Several need appliances, a couple need even more, virtually all have had the A/C's stolen, but there are some otherwise move-in ready properties in the bunch as well.  Priced at 1/3 of original value, these are incredible bargains for anyone looking in this part of the Valley.  Trust me, I've covered the area for the better part of 6 months looking for such deals for a specific client.  I've uncovered some good buys, but nothing like these.  Now that we found ours, I'm eager to find buyers for a few of the others. 

 

Bank Owned Bargain

 

Remember, when it comes to the outright theft of a bank-owned property, there is no honor amongst thieves.  Give me a call or drop me an email if you'd like more detailed information.  Better yet, hop in your car and meet me over there ... before Johnny Crowbar does!

 

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Realty Executives

Simply Amazing Modern Arcadia Area Home for Sale in Phoenix AZ

Looking for that no-expense-spared remodeled home in a central location near the border of Scottsdale and Phoenix?  Look no further than this Arcadia area gem!  Tucked away in a charmingly secluded neighborhood, this modern home is done a tremendous disservice when simply called a "remodel."  A near total 2008 renovation has taken the modern flair of the original architecture and brought it into the next millenium.  For those of discriminating taste, this is the future home of the buyer who values quality over the bargain bin.

Contact Ray & Paul Slaybaugh for a private viewing of this rare and distinguished home.

 

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Photo Gallery
 
Description
Oh, my lord! There is remodeled, and then there is remodeled. This is more than a gorgeous home; it is a work of art! Built by respected local architect Francis Schultz in 1965, it is one of a kind. In 2008, the McCormack family took it to the next level with an extravagant remodel, while keeping the architect's original design intact. Included in the several hundred thousand dollar project, the kitchen was completely recreated with European style cabinetry, Silestone countertops, built-in GE Monogram appliances and wine storage. Both beautiful spa-like bathrooms were also reinvented with Kohler fixtures, Toto toilets and Ronbow basin sinks. Other features include stained concrete floors and recessed lighting throughout, re-plumbing with overhead 'Pex' water lines, new high efficiency furnace and A/C units, new wiring and panels, new duct work, and a 'whole-house' water filtration system. All new dual pane windows. Gorgeous front and rear entertaining areas. There is simply too much to list here. The pictures say it best. Contact Ray and Paul Slaybaugh for additional details and to arrange a private viewing of this irreplaceable home.
Features
Bedrooms: 4
Bathrooms: 2
Year Built: 1965
Subdivision: Ingleside Inn
Lot Size: 12,130 Sq Ft
Garage Size: 2 Car Garage
School District: Scottsdale Unified (Arcadia High)
Square Footage: 2212 (Approximately)
Agent Name: Ray & Paul Slaybaugh
Broker: Realty Executives
MLS #: 4075642
Location
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