Remember Las Veritas?

In the market for a McCormick Ranch home? Intrigued by the bargains everyone keeps telling you about in the foreclosure / bank owned property arena?

Hold on to your hats and dive into your sofa cushions!  Our latest upcoming McCormick Ranch listing can be essentially purchased with the spare change its contents hold and a winning smile. 

At the ridiculously low price of $329,000, the nearly 2000 square foot Dietz Crane built home in the Villa La Playa subdivision boasts a rare 3 Car Garage, Swimming Pool, Full Tile Roof, 3 Bedrooms, 2 Baths, stucco over block construction, Vaulted Family Room Ceiling, Wood Burning Fireplace on an interior North/South facing lot!  The subdivision itself is adjacent to the McCormick Ranch Golf Course.

This home has been a rental for the past several years, so it is in need of a cosmetic facelift.  A pragmatist in a time of delusion, the owner has priced this aggressively low to compete with the bank owned properties and short sales.  You get the savings, but none of the hassle!

Pictures will follow when the home goes into the MLS after the weekend, but give us a call if you would like to get in for a look before the throng of investors and bargain hunters inevitably show up.

If you can find a better value in  McCormick Ranch ...

Buy it!

Shh!  Can you hear that? 

It's the sound of hollow vault doors being slammed shut and masking tape being drawn to piece together shattered family piggy banks.  Smashing the pink porcelain piglet in cases of emergency is the easy part.  It's putting the omnivorous swine back together that requires the patience of Job.

While America has gone for her hammer, we Realtors have been peddling a seemingly contrary message.

Buy.  Now.

While it is difficult to fathom spending money at a time when most are diving under the sofa cushions to retrieve every last nickel and Chuck E Cheese coin alike, we are all familiar with the free market tenet that the best time to buy is when everybody else is selling.  Or trying to sell, I should say.  The worst of times allow for the best of swindles purchases.  The majority of the general public recognizes this, laments the scarcity of available funds to capitalize on the current opportunities, and grudgingly returns to the painstaking task of trying to figure out which of the three credit cards to make a payment on this month. 

These prices are crazy!  If I had any extra money laying around, I'd buy five!

Of course, it goes without saying that values are so low because of the very truth that so few are in a position to buy.  As soon as demand catches back up with supply, and more folks are in better places financially, the opportunity for the best values will be gone.  This isn't a sales pitch.  This isn't even a sales post.  It's just the way it is.

Nope, rather I am simply writing to remind you that the same market forces that apply to the current housing market at large apply to your home specifically, even if you are not looking to buy or sell.  I am talking about now being an excellent time to renovate.

Blasphemy, I know.

With prices consistently falling for the past year and a half, why on God's green earth would you invest more money into a depreciating asset?  Especially when money is not exactly growing on HELOC trees these days?

Because there are a lot of hemorrhaging material suppliers and minimally employed contractors out there.  If you haven't shopped the box stores or general construction supply retailers lately, you might be surprised at some of the prices that can currently buy you a slab of granite or travertine tile.

With starts for new build homes down to a virtual standstill, there is excess material and labor strewn all across the Valley.  Don't believe me?  Go post a construction job on Craigslist and don't blame me when your inbox explodes.  Just like winter is the best time to resurface a pool, a slow growth market is ripe for a home renovation bargain.

Whether you are an investor that has adopted a buy and hold strategy for a slow motion flip, a homeowner who plans to sell in several years when the market is more conducive to your goals, or just someone who is simply sick of mauve carpet and laminate cabinets, this just might be the time to take the plunge.

It will be more difficult to finance the rehab, with lines of credit evaporating and home equities diminishing, but again, that's the rub.  That is precisely why there are bargains to be had.

While counting all of the money you are saving as you pick out those cabinets, thanks to the uncanny insight of a certain friendly McCormick Ranch Real Estate magnate, please bear one thing in mind as a thank you gift.

The magnate likes cherrywood.

As Scottsdale home buyers 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

 

The "Happy Bluebird" is no longer. 

Walking into this 1 Bedroom / 1 Bathroom Condo in Starfire (The newest of the five phase Villages condo development) is like walking into a hug.  The light blue walls have been painted out in favor of new soothing beige. 

Larger than the one bedroom models of the older phases, this little 900 square foot gem also includes additional modern features, such as dual pane windows and fire sprinklers, that can't be found in the competition.  With windows along every wall as you enter the great room, you are bathed in resplendent natural light.  The kitchen is very generous in size, and refreshingly open for a unit of this size.

   

                                                                   


Additional features include a wood burning fireplace in the great room, added privacy in upstairs corner location (only 4 total units in building), vaulted ceiling (not found in downstairs units), private balcony overlooking common area and simply impeccable condition.  Originally constructed in 1993, you don't find many homes that have been maintained as fastidiously as the original owner has kept this one.  Full tile roof, community tennis courts, heated community pool & spa.

   


Centrally located near 92nd Street and Mountain View on the Eastern border of McCormick Ranch, the Villages have unparalleled green common areas with immediate access to the walking paths that stretch through McCormick Ranch and beyond.  The community is so walkable, in fact, that the seller does not even own a car!



Whether looking for something modest in size and expense for a second home, starter home, step-down home or even an investment property (yes, it pencils!), single bedroom units seldom come on the market in Starfire.  Some buyers will demand the extra bedroom, but they will also pay upwards of $200,000.  This one can be had for the amazing price of ... drumroll please ...


$139,000!

Reduced to $119,000!

 

9715 N. 94th Place Unit 212
Scottsdale, AZ 85258
MLS# 4115596

Call us today before the vacation home you have always dreamed of, but never thought you could afford, is gone!


Ray & Paul Slaybaugh
The Ranch Experts
Realty Executives
(480) 948-9450
paul@mccormickranchhome.com

This new listing in the McCormick Ranch subdivision of Tierra Feliz has been wonderfully remodeled over the past couple of years.  Boasting a kitchen that was drastically overhauled in 2007 with cherry wood cabinets (included added pantry space), slab granite countertops, stainless steel appliances, new lighting, and was also opened to the family room, this property provides the best of both worlds: sought after central location with the upgrading to satisfy those who crave the modern cosmetics of newer, but far flung, communities.  Beautiful faux stone tile flooring in the main traffic areas, new cherry wood cabinets in the bathrooms (2007), wood burning fireplace, cherry stained plantation shutters and master closet system ... this home is truly a jewel.



Even after completing a full circuit through the gorgeous home, the best is yet to come.  Stepping out to the generous back yard of the 1/4 acre+ lot, the first thing you notice is the large pebbletec pool.  Easy care desert landscaping in both the front and rear yards (with the notable exception of several citrus trees) makes this home an ideal second home candidate in addition to making a great primary residence.  We still haven't reached the best part yet, however.



Perhaps the best feature of the property is ... wait for it ... the private gate access to the bike path which runs behind the home.  Straddling the border between McCormick Ranch and Gainey Ranch, the path leads directly to Rotary Park and beyond.  Hop on and tool around the Ranch to enjoy all of the lakes, parks, golf courses, mountain vistas, shopping and fine dining at your leisure.

 


Priced at $539,000, this is point of entry pricing into this prestigious section of the Ranch.  Just shy of 2000 square feet, this charming home is nestled amongst the million dollar properties that line the stretch of Via Linda Rd between Hayden Rd and Via de Ventura. 

For additional information or to schedule a showing of this terrific home, call or email Ray and Paul today! 

8906 N. 80th Place
MLS # 4113410
$539,000
3 Bed / 2 Bath
Pool
1912 Square Feet
12,000+ Sq Ft Lot

Ray & Paul Slaybaugh
Realty Executives
(480) 948-9450 
paul@rayandpaul.com                                                                       

Rotary Park is a small, public park which straddles the McCormick Ranch and Gainey Ranch border on the north side of Doubletree Ranch Road.  With an expansive grass area that is conducive to impromptu touch football games, ultimate Frisbee and gatherings of dogs and their handlers, I distinctly remember the city spending approximately 100k alone on the original restroom facility.  There was a modest playground area for the little ones as well.  Recently, however, a good park got even better.

With recent upgrading to the playground apparatus, there are now climbing walls, new slides, swings and other fun staples.  We had the boys over to visit their grandparents this weekend, and took the quick stroll from their home in the Vista De La Tierra subdivision.  Having forgotten that the renovation was on the agenda, we were pleasantly surprised by the transformation.  I couldn’t help but flashback two decades to when this beautiful palm tree-lined portion of Doubletree didn’t even exist.  Hard to reconcile the Hyatt Regency and upscale Gainey Ranch community with the working cattle ranch that it was in my adolescence.  

If you are looking for new options to keep the little ones entertained, you might want to give this old standby another try.  For those days that you just don’t feel like battling the crowds at the Railroad Park or the throngs of budding soccer/field hockey stars at Mountain View Park, Rotary Park makes for a nice, relaxing alternative.

Don’t mind the overgrown kid jumping off the swings (not pictured).  He’s harmless (except to himself).