Paradise Valley Homes

Paradise Valley Arizona Camelback Golf Club to Revamp Golf Course

Carmen Brodeur - Paradise Valley Realtor — Fri, 11 May 2012 02:30:20 +0000

Paradise Valley Arizona‘s Camelback Inn guests can enjoy the Camelback Golf Club’s two golf courses. Located on the other side of Mummy Mountain from the JW Marriott Camelback Inn, the Camelback Golf Club has two 18 hole 7000 yard golf courses. The Padre & Indian Bend courses. The Padre course was revamped in 2000. The Indian Bend course is in dire need of a revamping since its creation in the 70′s. This finally looks like it will soon come to fruition.

Camelback Golf Club Paradise Valley & Scottsdale Arizona

The Indian Bend course will move to more resemble the native Sonoran Desert in which it sits. This has been the trend at other Scottsdale golf course communities. This means it will require irrigation on 100 acres less than it currently does. It will be employing Sonoran Desert species vs non desert species. This will not only save water, but help the course to fit in more naturally with its surroundings. This will require a modification of its special use permit with the Town of Paradise Valley. Scottsdale & Paradise Valley have both been moving to embrace the Sonoran Desert vs creating a completely artificial oasis within the Desert. Moving to a more sustainable desert living model began in the late 80′s and continues to this day. This allows the Metro Phoenix area to support more people and become more self sustaining and more able to get through longer periods of drought.

If you have any questions about listing your home in this market, short sales, foreclosures, or anything else regarding Paradise Valley real estate, please feel free to contact me at (800) 300-0263 or (602) 791-0536.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley AZ First Quarter 2012 Real Estate Market Results

Carmen Brodeur - Paradise Valley Realtor — Wed, 11 Apr 2012 06:28:09 +0000

Paradise Valley Arizona is the community with the highest average home prices in Metro Phoenix. The pecking order for average home price in Metro Phoenix is: #1: Paradise Valley, #2: Carefree, #3: North Scottsdale, #4: Fountain Hills. Unlike the greater Metro Phoenix market which is going up (18% March 2011 to March 2012) when one looks at the median and mean (average) prices of homes in Paradise Valley AZ from March 2011 to March 2012 they have gone down.

The median price was down $250,000, and the mean or average price was down $176,768, or 12.11%. Why are prices down when the rest of the market is up? Simply put, the higher luxury market trails the general market by 12-14 months. This means next spring, we should see prices going up at higher price points over $1 Million. The same thing happened when the market dropped: The average home in Metro Phoenix dropped 15 months before it started to at price points over $1 Million dollars.

Here are the actual numbers below:

Jan/12: 23 sales Feb/12: 28 sales March/12: 41 sales Q1 = 92 sales Median = $900,000 Ave = $1,458,494

Jan/11: 27 sales Feb/11: 27 sales March/11: 29 sales Q1 = 83 sales Median = $1,150,000 Ave = $1,635,262

Our goal is to keep you informed about the Paradise Valley Real Estate Market in Paradise Valley Arizona. If you have any questions about listing your home in this market, short sales, foreclosures, or anything else regarding Paradise Valley real estate please feel free to contact Carmen at (800) 300-0263.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley Arizona Foreclosure Sells for over $10 Million

Carmen Brodeur - Paradise Valley Realtor — Mon, 02 Apr 2012 06:08:25 +0000

Paradise Valley Arizona has had its share of foreclosures, like any other part of Metro Phoenix Arizona. We blogged earlier about the Mansion on Mockingbird. The former property taken back by M&I Bank from the chairman of Taser Corp. M&I Bank btw is now BMO Harris. This tiny (yes, its hyperbole) 17,000+ sq foot home just closed at $10.5 million after being initially listed as a foreclosure at 17.9 million. The most expensive home to sell in this foreclosure crisis in Metro Phoenix. What is interesting is that it was initially listed at the bargain basement price of $24.9M back a few days before Halloween in October 2009. The close is a small discount from the original list of 58%. Happy Halloween indeed. Obviously BMO was motivated to move the property, but after paying 5 cents on the dollar from M&I’s market cap top of 60 billion (they purchased M&I for 3 billion). BMO cleans up some of these super jumbo loans on their books and still makes out ok in the process.

Of note, the “other” 10 million dollar Paradise Valley foreclosure off of Invergordon (technically 9.95M), also just closed for 4.8M. Another severe discount from list. That property however was not finished and required another $1.0M roughly to finish. The original owner had over 11.0 into the property including 4 M of his own hard earned cash.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Fantastic Paradise Valley Foreclosure Deal

Carmen Brodeur - Paradise Valley Realtor — Thu, 29 Mar 2012 19:55:33 +0000

There is a fantastic ultra contemporary Paradise Valley foreclosure that just went on the market. It is priced at only $1,380,000. What a STEAL!

This privately gated home is absolutely beautiful and features an immense amount of privacy. It includes all of the upgrades you would expect in a Paradise Valley home such as granite counters, travertine floors, sliding glass pocket doors in the front & back, as well as a some of the best views in this area. It is an entertainers dream.

We have seen fewer and fewer foreclosures in Paradise Valley AZ so I can only imagine how fast this one will sell. If you would like to schedule a showing of this or any homes for sale in Paradise Valley feel free to call me at (800) 300-0263.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley AZ Holds First Election for Mayor

Carmen Brodeur - Paradise Valley Realtor — Mon, 19 Mar 2012 05:01:34 +0000

Congrats to the new mayor of Paradise Valley, and the first elected mayor, Scott LeMarr. Paradise Valley AZ has gone from having an “appointed” mayor for the last 50 years to a directly elected Mayor. Previously the mayor was selected from the ranks of elected officials within the Town Council by other members of the Town Council in addition to the first elected mayor. It was an indirect method of selecting a mayor. Mr LeMarr won 54% of the vote and was the incumbent. Hence the last appointed mayor of Paradise Valley. Scott beat the Planning Commission Chair Maria Syms for the mayoral position.

Paradise Valley Real Estate Choices are Endless

Voters also approved the Town’s Utility Franchise with APS for another 25 years. In addition voters made their choices on changes to the town’s general plan which will guide future development. Our goal is to keep you informed of what is happening around town, in addition to the Paradise Valley real estate market.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Sanctuary Resort’s Expansion Plans Move Along in Paradise Valley, AZ

Carmen Brodeur - Paradise Valley Realtor — Sun, 11 Mar 2012 04:11:09 +0000

Paradise Valley, AZ resorts are what set it apart from other communities. One of those outstanding resorts is the Sanctuary. If there ever was a fitting name for a resort, the Sanctuary is aptly named like no other. Nestled up on the slopes of Camelback with a perfect view of the Camel’s head from the pool, and of the Town below from the dining and bar areas. Elements @ the Sanctuary is one of my favorite places to dine in all of Metro Phoenix. It truly stands apart in my opinion. I also love their Jade Bar. A great place to take an out of town guest to show them the views. Having said all this, lets get back to the story.

Sanctuary Resort in Paradise Valley

The Sanctuary has applied to the Town of Paradise Valley, AZ to amend its special use permit and add 20 rooms which average 575 square feet, add a pavilion of 1350 sq ft, and add to the women’s spa. All of these changes are within the proper setbacks dictated by their special use plan and will replace other current structures within the Sanctuary’s current location including the tennis courts, and tennis support buildings.

The Town’s Community Development Department has issued a Statement of Direction that recommends the Town approve the amendment to the Sanctuary’s special use permit, which occurred at the March 8, 2012 meeting. The next step is for the Sanctuary to receive approval from the Hillside Committee as the Sanctuary is on the side of Camelback Mountain.

Our goal is to keep you in the loop about the Town of Paradise Valley Arizona in addition to providing our real estate services to its residents. If you have any questions about listing your home in this market, short sales, foreclosures, or anything else regarding Paradise Valley real estate please feel free to contact Carmen at (800) 300-0263.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley Arizona Property Tax Information. Accurate vs Inaccurate

Carmen Brodeur - Paradise Valley Realtor — Mon, 27 Feb 2012 04:24:36 +0000

Paradise Valley, Arizona like 98% of the rest of Metro Phoenix lays in Maricopa County. The Maricopa County Assessor’s Office, Country Treasurer etc would seem to be the place to go to retrieve everything required on Paradise Valley property tax information. With that in mind, the local MLS board, Arizona Regional Multiple Listing Service, or ARMLS went with a new provider of County tax information (Corelogic) on Feb 6, 2012, that goes directly to the County for information.

Corelogic , which is based in Santa Anna, California, incidentally provides Zillow with its information also. So what is the catch? ARMLS has been using a company called iMapp out of Tampa, Florida in the past. But information is information right? If they both are sourcing Marciopa County records, its the same right? It is to a degree, but unlike Maricopa County or Corelogic, iMapp has been making CORRECTIONS in their system of records drawn from Maricopa County tax information that the County has not bothered to do for the past 30 years. iMapp therefore has the most accurate tax information on properties in Maricopa County including Paradise Valley.

Brokers were upset with ARMLS moving to Corelogic because they knew iMapp had been updating inaccurate Marciopa Country records within their database. Because of this real estate brokers have been up in arms this entire month. ARMLS has relented and will allow iMapp back to run side by side Corelogic’s realist. That is fine but who would use a data base lacking corrections from the past 30 years? Well other than Zillow, no Broker in their right mind would do so. That may also be one of the many reasons Zillow’s local information is so notoriously inaccurate.

If you want ACCURATE information in Paradise Valley, go to a Broker who has access to the corrected Maricopa County Tax information via the iMapp system.

Our goal is to keep you informed about the Town of Paradise Valley Arizona in addition to providing our real estate services to its residents. If you have any questions about listing your home in this market, short sales, foreclosures, or anything else regarding Paradise Valley real estate please feel free to contact Carmen at (800) 300-0263.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley Arizona’s Modest Beginnings…

Carmen Brodeur - Paradise Valley Realtor — Wed, 01 Feb 2012 06:59:35 +0000

Paradise Valley Arizona started out quite different than 99% of all communities. Most communities start up around a small commercial center and slowly build up from there. A store, a post office, a gas station, the basics. Paradise Valley started up as a reactive measure to preserve the rural, large lot atmosphere being encroached upon by Phoenix and Scottsdale. Concerned this unincorporated area of Maricopa County would be swallowed up by its larger neighbors, residents of the area approached Maricopa County to incorporate a new town that would preserve their quiet, peaceful and just as important non commercial atmosphere. This was done on May 24, 1961, and the rest as they say, is history.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley AZ 2011 Real Estate Market Sales Numbers:

Carmen Brodeur - Paradise Valley Realtor — Tue, 31 Jan 2012 06:48:44 +0000

2011 saw a 21.5% increase in the number of single family home transactions (396 vs 321, 1/2 acre or larger lots) in Paradise Valley AZ over 2010. Currently there are 296 single family homes for sale in Paradise Valley. Of these 67 are listed less than $ 1.0 M, 103 are listed between $1.0 & $2.0 M, 61 are listed between $2.0 and $3.0M, 47 are listed between $3.0 and $5.0M, and 27 are listed over $5,000,000.

The good news is the dip in home prices bottomed in mid 2011 and quickly rebounded by the end of 2011 back to where it was in mid 2010. Down 8% over the summer the price per square foot returned to within 1% of the previous year’s average. 2010 = $261.71/sq foot, 2011=$258.91/sq ft. A significant improvement. This indicates the market is headed back in the right direction (increasing).

On the distressed side, there are currently 74 single family trustee (foreclosure) notices for Paradise Valley homes. There are 32 listed short sales, of these 19 are listed AWC (active with contingencies) on the MLS. Which means the home owner has accepted an offer, with it contingent upon bank approval. 2 of the 32 short sales are listed as pending (the banks have accepted their offers), and 1 other has a bank approved price. On the foreclosure side, there are 5 bank owned (a slight uptick from 2 in November & December), properties with the most expensive being $16,000,000.

If you have questions about the Real Estate market in Paradise Valley, feel free to contact me at (602) 791-0536 or email me at Carmen@ParadiseValleyAZ.com.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com

Paradise Valley Arizona Foreclosure Report December 2011

Carmen Brodeur - Paradise Valley Realtor — Wed, 28 Dec 2011 16:35:34 +0000

Paradise Valley Arizona like other parts of AZ has been hit hard by this down turn. The bubble hit Arizona harder than most states for a number of reasons. First, it had a tremendous uptick in value of over 50% from 2004 to 2006. Second, Maricopa County has been the fastest growing county each decade in the US for the last 50 years. This means Arizona had a higher percentage of its economy associated with growth than most cities. Third, it is a right to work state. So when a down turn occurs, employers can lay off employees as quickly as they like. Fourth, Arizona is a deed of trust non recourse state. That means a homeowner that is underwater on the value of their home can walk from their property without recourse by the banks. The bank can only take the property back and do no more. This non recourse status has led to strategic defaults by homeowners underwater on their properties and a higher percentage of defaults than in states which are recourse. This is actually more likely to occur as the price point increases. Why? Because the higher net worth an individual is, the more financially savvy they tend to be. The high net individual also tends to have better access to legal and accounting professionals that will counsel them on this course of action. So what does this mean for the buyer? The simple answer is that with higher default rates, the downturn has given the buyer better opportunities.

Currently there are 77 single family homes with trustee notices in Paradise Valley AZ. A year ago there were 163. We have dropped over 50%. Actually almost 53%. Of these 77 homes, 17 are AWC (ie short sales with accepted offers by the current owner, seeking bank approval to put the home into a pending status). Another 4 of these have a pending status. That leaves 56. Of these 56 another 8 have canceled listings. The remaining 48 are simply headed to foreclosure and most likely will not be listed for sale before foreclosure. These will come back on the market after foreclosures as REO’s, ie bank owned foreclosures. Right now there are only 3 REO’s in Paradise Valley. One at $700,000, which in Paradise Valley is usually a tear down/renovation, a second is listed at $10.0 M, and the third is listed at $15.95 M.

Carmen Brodeur
Realtor / Attorney
Realty Executives
Cell (602) 791-0536
Direct (800) 300-0263
www.ParadiseValleyAZ.com