Okay we just finished having the Barrett Jackson car auction and the Waste Management Phoenix Open in town over this past month and now it is time for the horse parade. Yes, the Scottsdale Jaycees proudly present the Parada del Sol Parade. This parade has the distinction of being known as the “World’s Largest Horse drawn Parade”. The Parade route runs north up Scottsdale Road from Oak to Indian School. With close to 150 parade entries anticipated this year, this is an event to be experienced. So plan on grabbing a seat, your friends and family and come hang out at the Parada del Sol.

For years I took my kids to this annual event when they had the distinct pleasure of being pooper scoopers while being members of the Scottsdale Boy’s and Girl’s Club. I even have had the privilege of being a rider on the Scottsdale Area Association of Realtors float when I was a board of director member. This annual event caters to people of all ages from the small infants to retiree’s.

Given the current state of the real estate market in all areas in and around Phoenix/Scottsdale are many short sale listings. We have had our share of short sale listings and have represented both buyers and sellers through this process. We find ourselves educating buyers and sellers a lot these days about the process.Many people seem to think they know what short sales are…we find that about 2/3’s of people we speak with really have no clue what a short sale is.

For those of you who are not familiar with this terminology, a short sale is the sale of a house for less than the amount that is owed to the bank/mortgage company. Occasionally, homeowners find themselves in positions in which they must to sell their home, but the reality is that their property is worth less than what they owe the bank…perhaps they did a “cash-out” refinance?…perhaps they bought at the peak of the market with 100% Financing?

Many banks will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a costly foreclosure, and the owner is able to pay off the loan for less than what he owes. We hear all kinds of crazy misperceptions about short sales and have put together a list of myths about short sales, boy was that a mouthful!

1) “The seller must stop making payments on their loan.” Not necessarily.

 We have negotiated short sales where the seller has not missed any payments, and were not in default.

 2) “The seller is in foreclosure.” Not necessarily.

It is possible to have missed payments and not be in full-blown foreclosure.

3) “Buyers will not want to make offers on short sale property.”

 Not true.

Occasionally buyer’s agents are reluctant to represent offers on short sale properties. Often times, listing agents will take on short sale listing when in reality they have no knowledge base or skill set to successfully negotiate the lower payoff.  A shrewd buyer’s agent will call the listing agent and make sure they are competent to complete the process, and then submit an offer.

4) “Financial hardship is the only reason a lender will accept a lower payoff.” Not true.

There are many potential reasons a lender will allow a lower payoff. One such example is that the seller lost their job and have no means of making their mortgage payments..

 5)”A short sale where there is a first mortgage and second mortgage will not be approved.” Not true.

While this scenario requires diligent negotiation, many 2nd mortgage holders will accept as little as $1,000.00 in lieu of a full payoff.

6) “A short sale means that the escrow period will be short.” Generally no.

Depending on how much negotiation can be completed in advance, a typical timeline for lender approval can be 30 to 90 days. Once the lender approves the lower payoff, escrow is opened and the transaction timelines proceed from that date.

7) “Short sales are a bargain!” Banks do not give property away.  

They base approval on recent sales comparables, and actually retain the services of a local agent to perform a BPO (aka, Broker Price Opinion). However we do believe it is possible to get a lender approval for a property below the current market value, purchasing at “wholesale” is just not reality.

 8)”The seller of the property can make money from the short sale.” Not true.

The lender will REQUIRE that the seller nets $0 from the sale.

These are just some of the common questions we get from both buyers and sellers regarding short sales. In reality, most people (buyers, sellers, and even some real estate industry professionals) do not have a clear understanding of what they are and how they work. We have successfully negotiated short sales for seller clients. If you are facing the reality that you have to sell your home, and you owe more than its current market value, We may be able to assist you. We welcome your call at 602-620-2164 so we can discuss your options or email us at stephen@az-homes4u.com

There is a reality of the real estate market in Scottsdale that is often overlooked. When selling your Scottsdale home, it is basically on show or on stage 24 hours a day 7 days a week. Sellers need to remember this fact as even though it may be 11 pm, prospective buyers may still drive past the home and even at that point what they see should be impressive.

You may not want to show your home late at night but your Scottsdale home is “on stage” no matter what time it is. What this means for any seller is that their home must be in show condition no matter what time of day or night it is. The last thing any seller wants to do is to have to clean like a maniac at the last minute to accommodate a quick show. Unfortunately one thing that happens a lot with a home sale is the “drive by show.” This is a completely unplanned show that occurs when buyers and their realtors are having a quick drive around the available homes in the area and they see something they like and don’t want to wait to see what lies inside. Most realtors will bristle at doing shows on the fly like this but ask yourself if you can really afford to lose a prospective sale especially in today’s market?

It can be a chore keeping your Scottsdale home in showing condition, as showing condition and living condition are usually two different things. Daily living does tend to create a bit of a mess, especially if children and pets are part of the equation. It does not take a huge effort to make sure that things stay in pristine condition on a daily basis. You may have to learn to live without a few things as if the home is professionally staged, usually there will be some things that get stowed away as they are unnecessary to the showing of the home. Ideally home showings will be scheduled and you will have the appropriate time to prepare for them but as we stated before, those last minute, no-notice showings can happen. If they do happen then you need to be ready for them. If someone absolutely has to see your home at the last minute without notice it could mean that they are desperate to buy. It could be that they have to transfer to the area and get settled quickly or any number of other reasons. No matter what they are, if a buyer is needing to buy, you must be ready to show them your home. This will be much easier if you don’t have to tell them to wait for 20 minutes while you clean up the dinner mess or something of the like.

Wow, the McCormick Ranch community is 40 years old and seems to be getting better with age.  McCormick Ranch was originally developed by Anne & Fowler McCormick back in 1942 when they started to assemble parcels of land in the central area of Scottsdale and it was a working Arabian horse and Angus cattle ranch until 1970.  McCormick Ranch was the first master planned community to developed and built in Scottsdale and that began in 1972 and was completed in mid 1990’s.

McCormick Ranch is surrounded by 10 lakes, parks, 25 miles of biking/walking paths, office complexes, multiple retail shopping centers, churches, hotels, school, library and a public golf course.  The development has a vast array of mature eucalyptus trees, palm trees, green belts and a style of its own that is not featured in any other Scottsdale community.

The McCormick Ranch community stretches from Indian Bend Road to the south and Shea Blvd to the north.   Scottsdale Rd to the west and as far east at 96^th Street between Shea Blvd and Doubletree Ranch Rd.  The housing mix in McCormick Ranch includes, apartments, condominiums, patio homes and single family homes that the majority are single level on larger lots that you will see North of the 101 Freeway.  McCormickRanchHomesForSale

One of the unique features of McCormick Ranch is the McCormick-Stillman Railroad Park that is located at the southeast corner of Scottsdale and Indian Bend Roads.   The McCormick-Stillman Railroad Park was developed by Guy Stillman son of Anne and Fowler McCormick.  Guy’s 5/12 Paradise and Pacific Railroad was offered to the City of Scottsdale in 1971 and is the centerpiece to the entire park which includes, picnic areas, model train museum, playground and arboretum. 

The McCormick Ranch community is seeing a wave of redevelopment and remodeling as new families and businesses move into the community.  If you would like to know more about real estate opportunities in McCormick Ranch click on link McCormickRanchHomesForSale  or give me a call today at 602-620-2164 or email me at stephen@az-homes4u.com

With the decline in inventory for short sales, bank owned and regular sale listings throughout the valley, the Scottsdale's median home price in July of $386,500 was a 9 percent increase over a year ago, according to the latest monthly report from the Arizona State University Center for Real Estate Theory and Practice. 

That increase in sales priced is based on 512 homes sales, which is a 2 percent increase over sales for July 2011.  Scottsdale's median price in July for condominiums and townhouses of $153,000 was up 30 percent from a year ago on 235 units sold was down from 260 a year earlier.  Usually lower number of units sold would give one the impression that the market is slow, but with inventory at about a 30 day supply, this is not a number to be concerned with.  Search Scottsdale Homes For Sale

This trend has been occurring throughout the year thus far and I am seeing multiple offers and bidding wars on single family homes priced under $500,000.00 and condo/townhomes priced under $250.000.00 the shift in the real estate market is not just happening in Scottsdale, but throughout the entire valley I am seeing increased prices, low inventory and an increase in buyer demand.   Despite the warm summer months the market did not cool down, but it heated up. 

The overall supply of homes on the market declined 26 percent in August compared with a year earlier.

So if I am a buyer what does this mean for me?  Well if you are looking in Scottsdale patience is going to be you long lost friend. You will need to dig a little deeper into your pocket to purchase your next home compared to prices a few years ago, but with the interest rates being at an all-time low, your buying power has slightly improved.  Search Scottsdale Homes For Sale If you are a home Seller in Scottsdale, you might be surprised to get multiple offers within only hours of being on the market if you are priced right.  Even though prices are climbing, Buyers are still being selective and looking for what they consider deals.

If you are thinking about buying a home in and around the Scottsdale area and want to start the process, please give me a call today at 602-620-2164 or email me at stephen@myhomeinscottsdale.com and I will help you find your dream home.

Scottsdale Condo – Townhome Prices Continue to Climb as the inventory decreases and demand is still strong.  At the present time, there are only 443 condo – townhomes for sale in Scottsdale.  Of those 443 condo – townhomes available for sale, the lowest priced condo is located in south Scottsdale priced at $28,000.00 for a 1 bedroom 1 bath coop unit.  The highest priced condo is located at the Landmark Kierland at $2,650,000.00 and that is a penthouse suite overlooking the golf course and city views that has more than 3900 square feet with 4 bedrooms and 3 baths.

We have seen inventory declining throughout the year in both Short Sale, Foreclosures as well as regular sales.   The Scottsdale market has slowly changed from a buyers market to a sellers market, but by no means have we seen a total recovery from the highs of 2004 thru 2006.  Total condo-townhome sales last year in Scottsdale were 1779 units.  To date, we have had 1467 condo-townhome sales and there are currently 339 pending sales.  With that being said with 4 more months to go in the year, we will have exceeded our total condo-townhome sales from 2011. To view current condo – townhomes for sale in Scottsdale.

Buyers looking to purchae a condo – townhomes in Scottsdale that are priced under $250,000.00 are having a harder time these days finding a property.  73% of all condo – townhome sales this year in Scottsdale have been priced under $250,000.00.   The majority of my clients who are looking within this price range are dealing with bidding wars and paying above list price in most instances.  In 2011 the average list price for a condo – townhome in Scottsdale was $185,000.00 and the average sold price was $175,000.00.  During the same time period this year, the average list price for a condo – townhome in Scottsdale was $227,000.00 with an average sales price of $219,000.00 dollars.  We have seen a 25% increase in condo -townhome prices within Scottsdale since last year and that is good news for sellers.

If your looking for a nice condo – townhome in the Grayhawk or McDowell Mountain Ranch communities under $250,000.00 you will be standing in line with many other buyers if you don't jump in and purchase a unit soon.  With interest rates at an all time low, inventory dramatically down and prices starting to climb, buyers can't sit on the fence much longer or they will be without a property.  Now if you want to look in other areas besides Scottsdale, then the opportunties are much better, but it depends on the area and price range one is looking at.  Scottsdale Condo-Townhomes For Sale  If you would like more information about Scottsdale condo - townhomes for sale, please call me today at 1-866-620-2164 or contact at stephen@myhomeinsocttsdale.com

Lake Serena is the focal point of Scottsdale Ranch and there are several housing subdivisions that surround the lake.  The water that flows into Lake Serena comes from underground aquifer's and it is enjoyed by all the residents who live in Scottsdale Ranch.  The Scottsdale Ranch community also has 64 acre general public use area in the center of the community that includes amenities such as the Boy's & Girl's Club, Scottsdale Senior Center, Laguna Elementary School and Scottsdale Ranch Park  which features an outstanding tennis and outdoor volleyball facilities.

Scottsdale Ranch provides a choice of lifestyles from single family homes, gated communities, patio homes, townhomes, condominiums and apartments. A choice of recreation to include boating, fishing, biking, jogging, tennis, volleyball and a variety of social activities.  Within minutes to the 101 Freeway, major shopping at Kierland Commons and the Scottsdale Quarter, dining, schools, entertainment and more, Scottsdale Ranch has been and will continue to be a highly sought after community to live and play in for years to come.

If you would like more information about housing opportunities in Scottsdale Ranch, please give me a call at 602-620-2164 and I would enjoy showing what made Scottsdale Ranch home to me.

Ancala is a beautiful community located high in the McDowell Mountains in Scottsdale, Arizona. Upon entering the guard gate entry at Ancala, you immediately sense the prestige and feeling of security afforded to residents of this dynamic community.

This custom home community has been carefully designed to take full advantage of the private golf course, Sonoran desert and views of Scottsdale and Paradise Valley, including the famous Camelback and McDowell Mountains.

Ancala's location means easy access to nearby schools, shopping, entertainment, restaurants and medical services, including the esteemed Mayo Clinic, Scottsdale Healthcare Shea Hospital and Virginia Piper Cancer Treatment Center.

Only minutes from the 101 Freeway and the downtown Scottsdale business and tourist district, Ancala truly is a great place to live!

Everything you and your family have been searching for is spread out before you on this breathtaking expanse of High Sonoran Desert. 8,000 acres of pristine beauty provide the canvas for a storied community that is big enough to embrace everyone’s dreams. Across this rolling, perfect playground, your own personal history of the game will be written on Six Championship Jack Nicklaus Signature Golf Courses, the largest collection in the world. This is a lifestyle like no other. Constantly evolving with limitless possibilities, this legendary community defines the ultimate in high desert living. Welcome the premier, member-owned, private community in the world. Welcome to Desert Mountain.