Mighty Mud Mania

I missed it.  I forgot to add it to my calendar and totally missed the Might Mud Mania in Chaparral Park.  The event initially was created by "Shout It Out" stain remover.  When the Arizona mud was too much for the spot remover, SC Johnson who makes Shout, never returned.  The City of Scottsdale found the event to be very successful and incorporated it into their summer activity program. The event is for the kids, but looks like the adults are having just as much fun. 

My Video’s are back!

Yippee!  I am so glad to have the kinks worked out and have some of my videos back online.  I still have a few more to post.  And even more to make!  Back to work for me I guess.

Enjoy

McCormick Ranch town home community of Pleasant Run

Pleasant Run is a town home community located to the west of Hayden Rd in Scottsdale’s McCormick Ranch.  This town home community offers single level and two story properties, two community pools, spas, tennis courts and it is just a few steps to the Camelback Walk. Take a look at the video to find out more.

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The Camelback Walk

The Camelback Walk is a multi-use path that is available to anyone.  It meanders behind the communities, along the parks, golf courses, lakes and commercial areas.  It is one added bonus of living in McCormick Ranch.

 

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It’s a Buyers Market. Or is it?

With over 6 months of inventory (the number of homes on the market divided by the number of homes selling each month) we are in a buyers market.  But if you are out there buying you may think otherwise. 

We currently have 3 housing markets.  

The Short Sale market: made up of people looking to sell their home and have the bank take the loss; The short sale market is slow (months & months)  check out my other posts on Short Sales for the scoop.  The purchase will be "As Is" meaning you can inspect, but the seller will do no repairs.  The bank can only accept an offer, not counter.  So don’t expect to go back and forth.

The Foreclosure market, made up of bank owned properties already thru the foreclosure cycle. The foreclosure market is a bit quicker.  You will most likely get a response back in a week.  You are still purchasing "As Is" and many times, since these properties are put on the market at rock bottom there will be several offers going in from different buyers.  This means, if you love it, put in your best offer at the start.  You will most likely get a request for "highest and best" and that is their version of a counter offer. 

The last group;the Resale Home market, you know, the section of the market made up of people who didn’t over extend themselves, have owned the property long enough to have equity, and have pride of ownership.   Wow, I miss the regular resale transaction. 

With multiple offers, banks taking their time to approve sales, and no option for repairs and many of the properties needing LOTS of work.  It feels like a sellers market. 

Understand the differences, know what you are looking for in the purchase, are you ok doing repairs, do you have the cash to get the repairs completed or is sweat equity enough to get the job done. 

Or are you looking for a home that has been maintained where the sellers are cooperative, and you move in and enjoy…

Selling your home? Show it in the best light!

I was with a client this weekend, and most of the homes we looked at were vacant and there were a couple that were occupied.  I was looking forward to the occupied homes, they show in such contrast to the unknown condition of foreclosures, or short sale properties.  Both were also owner agents, meaning each of the owners were also Real Estate agents.  The first home was perfect.  All the blinds were open, the lights were on, the air conditioning was set to a comfy temp. The home was cool and inviting. (remember it is summer in Arizona, cool is a good thing)  The next occupied home was just the opposite, they forgot to open a single blind, turn on a light or even take the dishes out of the sink.  And this was from a Realtor.  Here are the basics folks,

• Open the blinds, let the light in, people like light and bright
• turn on the lights if you can, again people like light and bright
• keep your air conditioning comfortable, always, people will stay in a comfortable cool home much longer than one that is hot, the longer they are in your home the more likely they will start thinking about it for themselves
• get the dishes out of the sink, even if you put the dishes in the fridge - just keep the kitchen clean

Simple really in a market where so many homes are vacant, make your house shine.

Buying a Second Home?.. there are new requirements

A big thank you to Robyn Robertson and letting me know these details.  There are lots of seasonal residents here in McCormick Ranch, and many second home owners.  Many purchase with cash, but for those looking to do financing, knowing the requirements is important.  Her post Converting your Primary Residence to a Second Home or Investment Property

Fannie Mae is changing the policies for  qualifying for a loan when borrowers who currently own their  home and decide to purchase a new home and convert their old home to an investment or second home. The changes are

1. The old property must have documented 30% equity,or there must be 6 months of reserves to cover the mortgages on both properties
2. Rental income must be documented with a fully executed lease agreement and
3. Receipt of security deposit from the tenant into the borrowers account.

These new guidelines go into effect on August 1st

 

Scottsdale bridge progresses over flood-prone wash

Today’s Arizona Republic had this article on the Indian Bend wash construction.  Be prepared for detouring in the months ahead.

Scottsdale bridge progresses over flood-prone wash

by Jane Larson - Jul. 14, 2008 08:39 AM
The Arizona Republic

Concrete arches of the Indian Bend Road bridge are poured, and by this time next year Scottsdale motorists will no longer worry about flooding in that stretch of Indian Bend Wash.

The $26 million bridge between Hayden and Scottsdale roads will be ready in early 2009, said city spokeswoman Annie DeChance.

Workers began pouring concrete for the bridge in April, and have completed 60 percent of the span, she said.

For months motorists have faced traffic restrictions, and later this year they will have to find another way around.

Indian Bend Road soon to close

After the summer monsoons, motorists will face a months-long period when that stretch of Indian Bend Road will simply be closed.

Construction crews will be finishing the bridge, connecting it to the realigned road and building other parts of the project.

The Indian Bend Road closure through the wash originally was set to begin this summer, and last for five months.

DeChance said the closure was pushed back by bad weather and because the city is waiting for construction on McDonald Drive - another of the city’s key east-west routes, a mile to the south - to finish.

For months a stretch of McDonald - also between Hayden and Scottsdale roads - has been reduced to one lane in each direction. That project should be mostly done by August, the city estimates.

Neighbors react to project

Indian Bend Road neighbors are most concerned about where the new roadway will go, area resident Dennis Suchocki said.

"We go down Indian Bend and say, ‘What’s this going to look like?’ " he said. "They’re going to do what they’re going to do. We’re just hoping good things happen."

The bridge project will realign the current two-lane road, widening it to four lanes - two in each direction - and curving south to connect with the new bridge.

Work is more than just a bridge

The current road through the wash will be replaced by a concrete slope, finished in exposed aggregate, to prevent erosion.

The rest of the project, including public art, is to be complete by the end of 2009, DeChance said. April 2009 was the original target.

The project will include a landscaped median, bike lanes, a sidewalk on the south side, bus shelters, turn lanes at Scottsdale and Hayden roads and a connection between the Indian Bend Wash multiuse path and the McCormick-Stillman Railroad Park.

Public art for the project is being constructed by Seattle artists Laura Haddad and Tom Drugan.

Public art: Five gargoyle horses

It will feature five horse gargoyles, made of aluminum, to be installed on the concrete slope north of the bridge. The bridge and six public-art walls will sport red tiles marking the water depth in one-foot increments.

The construction project started in September and is designed to eliminate Indian Bend Road closures due to flooding. Drivers made 14,400 trips a day in 2006 on Indian Bend between Scottsdale and Hayden roads, according to transportation studies.

Two motorists made national television news in 2006 when they drove into four-foot-deep floodwaters flowing across the road and firefighters had to rescue them.

The two later paid fines for ignoring flood-warning signs.

New residents in the neighborhood

There are a few new residents in town.  If you look carefully you can see the itty bitty Gambrel Quail.   As I headed out this evening Mom and Dad with about 8 babies were all scrambling along.  Mom and Dad tried to get my attention away from the babies.  They are about the size of a silver dollar and falling over their feet still.  Sooo cute.  I look forward to seeing them as they grow.  And me with only my phone camera.

85258 Sales Statistics

Looking at the numbers from this past month we have a growing positive trend.  Currently the number of active listings is decreasing, we are seeing the lowest number of actively listed homes in quite a while.  Where last month there was a dip in the number of homes pending, we see that show up in this months closings.  With the increase of pending’s again, we should see a strong number of sold by the end of the month.

 

	3-Mar-08	4-Apr-08	2-May-08	6-Jun-08	7-Jul-08
Total Active Listings	556	572	554	507	475
Single Family Homes	279	287	285	253	242
Patio/Town/Gemini Homes	150	167	149	128	127
Apartment style Homes	127	118	120	126	106
Total Pending Listings	72	70	79	51	67
Single Family Homes	33	39	37	23	33
Patio/Town/Gemini Homes	22	17	26	17	14
Apartment style Homes	17	14	16	11	20
	Feb	March	April	May	June
Total Sold	42	55	55	68	51
Single Family Homes	21	19	32	35	23
Patio/Town/Gemini Homes	17	21	14	19	16
Apartment style Homes	4	15	9	14	12
Average Sales Price
Single Family Homes	590k	761k	640	600	662
Patio/Town/Gemini Homes	529k	440k	494	429	353
Apartment style Homes	155k	173k	244	260	190

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