Ready to step down into a low maintenance patio home in the heart of McCormick Ranch? Tired of paying obscene monthly rental fees when you visit Scottsdale in the winter and spring? Step into this immaculate single-level patio home that is an easy stroll from the banks of Lake Angela for the ultimate in low maintenance living! Perfect for the seasonal and full time resident alike!

Just In Time For Winter Visitors - McCormick Ranch Patio Home For Sale! Location: McCormick Ranch - Heritage Village Looking for the perfect blend of privacy and low-maintenance living in a central location? This McCormick Ranch patio home in Heritage Village more than fits the bill. Boasting 1938 square feet, 3 bedrooms, 2 bathrooms, 2 car garage, private patio, culdesac lot, walking path access, single-level construction and a quick stroll to Lake Angela, this is an amazing value. Newer berber carpeting, Italian marble entry, large open kitchen, north/south exposure and meticulous upgrading perfectly compliment one of the best interior lots in the development. Homeowner association dues pay for front yard maintenance and common area maintenance. The community includes walking paths, tennis court, heated community pool & spa. Whether looking for an easy-care vacation home, to downsize in McCormick Ranch, or simply to eliminate tedious and costly yard maintenance, you will find no better option under $400,000. Hurry to this one, folks. This will fly off the market, even in this market! Photo Gallery Information Contact Information Ray & Paul Slaybaugh (480) 220-2337 Pricing Price: $369,000 Property Location 8181 E. Del Caverna Dr. Scottsdale, AZ 85258 Features Bedrooms: 3 Bathrooms: 2 Year Built: 1981 Subdivision: Heritage Village Garage Size: 2 Car School District: Scottsdale Unified (Chaparral High School) Square Footage: 1938 Agent Name: Ray & Paul Slaybaugh Broker: Realty Executives MLS #: 4064059 Attributes Appliances Range/Oven Full Refrigerator Dishwasher Sink Disposal Microwave Interior Amenities Fireplace Kitchen Island Family Room Single Level Split Master Bedroom Walk-In Closet(s) Formal Dining Room Exterior Amenities Patio Heated Community Pool Community Spa Tennis Court(s) Walking Paths Lake Community North/South Exposure Cul-de-sac Lot Powered by vFlyer.com EQUAL HOUSING OPPORTUNITY VFLYER ID: 2005127 All information in this site is deemed reliable but is not guaranteed and is subject to change

As we desert denizens wave goodbye to another scorching summer, we eagerly anticipate the Real Estate market improvements that migrate here annually with the cooler temperatures.  Packed between the socks and the sunscreen of our seasonal visitors, cautious optimism always visits in the winter.  While the statistics for the quarter marked by July 15^th – October 15^th on the calendar are not particularly inspiring, it is not altogether unexpected.  Between the hundred and bazillion degree temps and general market slowdown, it hasn’t helped matters as the nation nervously watches Wall Street and election polls. 

Believe it or not, year to year inventory levels for active listings across the Valley are actually down by about 4,000, but the pervasive foreclosure presence has still precluded demand from catching up to supply.  Decreased purchasing power has contributed to the housing slump as well.  As banks have failed or been gobbled up, the financial institutions and investors have become increasingly skittish about lending their money.  As such, the buyer pool has diminished.  That’s the bad news.

The good news is that many people are realizing that there has never been a better time to buy Real Estate in Scottsdale in general and McCormick Ranch specifically.  When the market is depressed, buyers return to the central, and historically desirable, neighborhoods first.  Given the uncertainty with fuel costs, that factor looms even larger today than in years past.  Investors are currently gobbling up the bargain basement properties at a frenzied pace, thus bringing hope that we are at or very near the mythical bottom that market watchers seek.  As our friends from the North, Midwest and back East descend upon our receptive community, we are confident that many will seek to take advantage of the plentiful values and eat further into the over abundance of listings which is holding our respective equities hostage.

As the following statistics were prepared near All Hallows Eve, I look forward to trading in the trick of the past few months for the treat of a stabilized market.  It’s still a phenomenal time to buy, and hopefully, it will be a good time to sell again in the not so distant future.

There have been 27 closed sales of single-family homes in McCormick Ranch over the past three months (7/15 – 10/15), for an average of 9 per month.  There are currently (as of 10/15) 110 active listings.  Even allowing for the historical pattern of a summer slowdown in total sales, those figures demonstrate the challenges involved in selling a home in the current environment.  A basic extrapolation of the absorption rate tells us that we have just over a 12 month supply.  In short, if no new homes were listed, it would take a year to sell the current inventory based on the current average. 

The closed sales averaged a sales price of $503,397 and 2484 square feet, for an average of $213.73 per foot.  Average market duration was 117 days.

Current active listings average a list price of $728,541 and 2676 square feet, for an average of $264.81 per foot.  Average market duration is 166 days.

There are currently 10 pending sales (in escrow).  These properties average a list price of $551,670 and 2376 square feet, for an average of $230.57 per foot.  Average market duration is 136 days.  Please bear in mind that only list prices are available for pending sales.  The actual sales prices will not be disclosed until settlement.

It’s been a trying stretch for homeowners, no doubt about it.  The numbers reflect what we’ve all known to be true for some time.  It’s just a difficult time to sell a house.  That does not mean it is impossible, however.  Proper pricing, staging and marketing strategy will produce results.  Believe it or not, but many sellers still overprice their homes or fail to whip them into show worthy condition.  To be fair, this is the domain of a Real Estate professional.  This is no time to hire that cousin who has a license that he never uses or a limited service brokerage.  Regardless of which McCormick Ranch specialist you ultimately employ, this is not a market for amateurs.

* Stay up to date on McCormick Ranch Real Estate news and community happenings by subscribing to this blog or visiting us at www.ScottsdaleHousePeddler.com

Ray and Paul Slaybaugh

Realty Executives

The Ranch Experts

(480) 948-9450

www.RayandPaul.Com

www.McCormickRanchHome.Com

What a glorious morning.  Now that the mercury in local thermostats has finally receeded from triple digits, Scottsdale residents are free to brave the outdoors again.  No longer confined to air conditioned environs, we see neighbors for the first time in months.  We've lived in our pools since May, but it's nice to be reacquainted with our front yards as well.

I can imagine no finer setting for attending "Railfair" at the McCormick-Stillman Railroad Park in McCormick Ranch. 

Making the mid-morning pilgrimage to our family's mecca of leisure, we met up with some friends.  Just in town from Alberta for the week, they planned the trip to their vacation condo perfectly.  My jaw nearly hit the floor upon learning they traded 30 degree temperatures for our upper 80s.  Of course, that was music to my ears.

Thus beginith the great seasonal migration of 2008-2009

The park was awash in model train enthusiasts, inflatable apparati for the kids and all manner of fun.  The train schedules were ramped up to allow for nearly continuous departures.  In short, it was the Railroad Park on HGH.  Given the tenor of the week's financial and political news, it was a more than welcome reprieve.  Credit market freezes and rate indeces do not exist at Railfair.

If you are looking for something to do with the kids in Scottsdale this weekend, and this post finds you in time, you have one more crack at attending Railfair.  It runs tomorrow (Sunday, October 12th) from 10 AM - 5 PM.  Tickets for the attractions are available on site ($2 train rides, $1 carousel rides ... children under three ride free).

Considering that the park often fills up quickly for special events, you might consider forgoing the parking lot, and parking across the street.  There's a place there called Starbucks there that serves coffee.  You might have heard of it.  If you haven't, forget I said anything.  I'm reasonably sure they put cocaine in their products.  Nothing else would explain my addiction.

This is but one pitstop along our Autumn lap around the Valley.  Schnepf Farms is holding their annual Fall festival, the State Fair is in full swing and other seasonal events are popping up all over the place.  If you aren't here, get here now!

For more information about the Railroad Park and Railfare, please visit: 

http://www.therailroadpark.com

It is no secret that Scottsdale, Arizona is one of the most coveted winter destinations in the United States.  Every year, from November to April, the self-proclaimed West’s Most Western Town greets visitors from all parts of the world.  Midwesterners and Canadians are usual suspects, and the contingent that visits from back East grows every year.   With mounting concern over hurricanes and other factors, Scottsdale has siphoned a fair portion of regulars from the usual winter haunts in the Southern states.

So while I am not exactly letting the cat out of the bag about the seasonal appeal of the Sonoran Desert, the intention of this piece is to provide an overview of a few of the more seasonal resident-friendly communities in Scottsdale.  Considering that most who visit will return for future seasons, it is not surprising that many will opt to purchase a second home here at some point.  Seasonal lease rates can run up to three to four times typical offseason rates for furnished rentals, so ownership can be much more appealing. 

For the two people on the continent who need convincing that Scottsdale is a terrific place to own a vacation home, allow me to persuade you with this oldie but goodie.  For everyone else, here are some communities which I am highlighting for their traditional appeal to winter residents:  centrally located near coveted amenities such as walking paths, lakes, dining, shopping, parks, etc.  Proximity to Sky Harbor Airport and convenient freeway access to other parts of the Valley is also taken into consideration. 

• Heritage Village in McCormick Ranch is a multi-phase development of patio homes.  Nestled amongst the surrounding subdivisions of single-family detached homes, these homes are ideal for the seasonal resident.  The properties are single-level, and share one common wall with their neighbors.  Ranging in size from approximately 1700-2300 square feet, these homes were constructed between the late 70s – mid 80s, and include two car garages and private patios.  It is the ideal blend of private ownership (unlike condo ownership, you own your own dirt in addition to the structure) and community amenities.  The reasonable monthly association fee of $200 (plus an additional $180 annual planned community fee) provides common area maintenance, front yard maintenance, tennis courts and use of the heated community pools & spas.  Perfect for those who want the privacy of a single family home, but not the maintenance of a private pool and yard.  With one phase based along the banks of Lake Angela, and another along the McCormick Ranch Golf Course, the locations couldn’t be more ideal.  Immediate access to the McCormick Ranch walking paths (which run throughout the subdivisions) provides the intrepid with routes to the parks, restaurants, lakes and golf courses that make it famous.  More than most communities which are favored by winter residents, the Golden Heritage homes live and feel like “houses,” as opposed to townhouses.   Current pricing ranges from the upper $300,000s to the $600,000s (lakefront or golf course lots).

• Indian Bend Village, more commonly known by its marketing name of “Suntree,” is another great option for the seasonal resident.  Legally recorded as a townhouse subdivision, these Spanish style patio homes offer similar advantages to Heritage Village.  These properties vary between one and two levels, and share, at most, one common wall with a neighbor.  The ideal combination of privacy and low maintenance, there are no neighbors above or below in a Suntree patio home.  The stylish tile roofs and stucco exteriors culminate in a prototypical Spanish style home.  For those who want their Scottsdale experience to entail all of the trappings of the Southwest, it doesn’t get anymore “Arizona” than this.  Just south of McCormick Ranch, this smaller community of 174 homes abuts the Silverado Golf Course in central Scottsdale.  With convenient access to the nearby walking paths, downtown Scottsdale scene and shopping / dining galore, the location leaves little to be desired.  The reasonable $130 monthly association fee covers common area & front yard maintenance in addition to use of the tennis court and heated community pool & spa.  Homes in Suntree were constructed in the early 80s, and primarily range from 1400-2000 square feet.  Current prices range from $325,000 - $550,000.

• Santa Fe is a quaint Spanish style patio home community in McCormick Ranch.  Featuring single and two-story homes between 1800-2300 square feet, the western perimeter of Santa Fe abuts Camelback Walk (McCormick Ranch walking path) and the McCormick Ranch Golf Course.  With timeless appeal, these villas were originally constructed in the 70s.  A wave of remodeling has crashed into the development in recent years, creating a terrific marriage of charm and modern luxury in many.  Directly across Hayden Road is the Paseo Village shopping center.  Santa Fe is also an easy walk from the McCormick Ranch Golf Club and the Mercado Del Lago center that boasts fine, as well as casual, dining.  The walking paths extend south virtually uninterrupted to Tempe.  Heading northeast, you can meander all the way to the hospital at 90^th St and Shea without crossing a road.  Along that walk, you’ll pass Cochise Elementary School, Mountain View Park, Lake Margherite, Lake Nino, Lake Angela, the Palm & Pine Golf Courses … there are no finer pedestrian accommodations in the Valley.  The low monthly HOA fee of $154/month (plus an additional annual $180 planned community fee) pays for the heated community pool & spa (overlooking the golf course, with views of Camelback Mountain), common area maintenance, front yard maintenance, exterior maintenance and blanket insurance policy on the homes (with limitations).  Current asking prices in Santa Fe range from $400,000 - $600,000.

• The Colony at Scottsdale is another multi-phase development in central Scottsdale.  Located approximately a quarter of a mile west of Indian Bend Village, these patio homes were built from the mid 70s to the early 80s in three sections.  The older two sections primarily include carports, but some have been converted to garages over the years.  The furthest north of the phases (has a separate HOA) is a bit more modern, and all homes have 2 car garages.  The beige exterior versus plain white, and a marketing name of “Arroyo Verde Homes” also serve to differentiate this phase from the preceding two.  The homes in the Colony are similar to the other developments listed here in that they merge community living with privacy.  Otherwise put, there is a sense of single-family living without the maintenance.  These homes share a common wall, but have no one above nor below.  Homes in The Colony range from 900-1600 square feet, and carry lesser price tags than some of the neighboring developments.  With similar community features to its more expensive counterparts, including pool & spa, access to jogging paths along the golf course & canal, exterior & front landscaping included in the HOA fees, The Colony is a great option for those with lesser size requirements.   The current fee in phases 1 and 2 (which share the same board) are $128 / month.  The third phase, Arroyo Verde, has a current fee of $170 / month.  Current pricing ranges from the low $200,000s to the low $300,000s.

• Gainey Ranch is the ultimate in lock and leave lifestyle.  A master planned community for the well-heeled, Gainey Ranch is sandwiched between McCormick Ranch and the town of Paradise Valley.  The beautiful Hyatt Regency lies just outside of its gates.  Gainey Ranch features manned guard gates for the community, individual gates for many of the subdivisions within, golf, tennis, community pools & spas, clubhouse and all styles of housing.  From single-family homes to condos, townhomes and patio homes, there is a wide variety from which to choose.  But when looking in Gainey Ranch, don’t forget to pack your big boy wallet.  The fees alone are prohibitive to many, and they don’t take American Express.  With a monthly planned community fee in the several hundred dollar range, along with additional monthly subdivision fees in many cases, there is a veritable house payment in fees alone.  Oh, and golf?  You guessed it.  That’s an additional fee.  Gainey should not be on your list if you are shopping on a budget.  If, however, you are operating with a bit more financial leeway, it’s tough to beat this community for location, amenities and security.  Prices swing wildly from small condos in the low $300,000s to multi-million dollar single family homes.

* All fees and values estimated as of September, 2008.

This is but a sampling of the options available.  From condos to mansions, there is a property for every budget and need.  To get the search started for your ideal Scottsdale vacation home, please feel free to contact me or visit your Scottsdale AZ Vacation Home Expert.

Does 70 degrees sound like your idea of winter?

See you soon.

McCormick Ranch 
Statistical Market Analysis
Active Listing Data
8/1/08

I'm doing things a bit differently for this month's McCormick Ranch Real Estate market analysis.  With so many single-family properties currently for sale (118), I have opted to isolate the current active inventory from the closed sales report by way of separate posts.  To view the closings from July, please view my previous post. 

In addition to separating the closed sales data from the active listing data, the active listings are now presented as a statistical analysis rather than individual property descriptions.  With the inventory hovering between 100 and 120 properties consistently over the past several months, it has simply become to unwieldy to list that much information in a single blog post. 

*Please visit us at www.McCormickRanchHome.com to view individual property listings of homes currently for sale. 

This report breaks the active inventory down by school district.  There are two school districts in McCormick Ranch.  Cochise/Cocopah/Chaparral and Kiva/Mohave/Saguaro. 

There are currently 78 single family homes for sale in the portion of McCormick Ranch which falls in the Cochise Elementary School District (North of Via De Ventura Blvd).  Prices range from a low of $315,000 to $1,650,000, with an average price per square foot of $255.80.  The average time on market for these listings is 156 days.

There are currently 40 single family homes for sale in the portion of McCormick Ranch which falls in the Kiva Elementary School District (South of Via De Ventura Blvd).  Prices range from a low of $304,900 to $2,850,000 with an average price per square foot of $275.45.  The average time on market for these listings is 145 days.

For detailed information about any property currently for sale in McCormick Ranch, contact Ray and Paul today.  With the tremendous variation one encounters from one home to the next, you can rely on our more than 40 years of combined experience selling these properties.  No one knows McCormick Ranch Real Estate like the Ranch Experts!

July brought 10 closed home sales (as reported in the MLS for the period between 7/1-7/31/08) in McCormick Ranch.  THe lowest reported sale price was $449,500, and the high was $900,000.  For these properties which which a successful conclusion, the average sale price was at 93% of list price, with an average price per square foot of $234.06.

Sales continue to lag inventory.  The next entry will focus on current active listings.  There are 122 single family homes currently for sale in McCormick Ranch.  For July, that translates to approximately 1 closing for every 12 homes for sale. 

As always, statistics are a great place to start, but never provide the full story.  Every subdivision, builder and property is unique in McCormick Ranch.  Ranging from small ranch style homes with low ceilings built in the early 1970s to homes that have been completely rebuilt with soaring ceilings, modern architecture and the latest cosmetic upgrades, McCormick Ranch homes cannot be properly evaluated through raw data alone.  For a professional opinion of value for your home from your resident McCormick Ranch specialists, or for an opinion of value on a property you may have your eye on, contact Ray and Paul Slaybaugh with Realty Executives today.  We have over 40 combined years of living in and selling Ranch Real Estate.

(480) 948-9450
paul@mccormickranchhome.com

The following table reflects the Arizona Regional Multiple Listing Service (ARMLS) data for closed sales in McCormick Ranch for the month of June.  Rather than a blanket zip code report for all of 85258, which takes in Gainey Ranch, La Cuesta, Casa Buena and other neighboring communities, this report isolates only those homes which are located within the boundaries of McCormick Ranch.  For buyers and sellers alike, this will help give you a clearer picture of current values on the Ranch.

As always, please note that raw data is merely a jumping off point, not the destination.  The market value of ...<< MORE >>

There are some downright stupid buys to be had in the current Real Market here in Scottsdale.  In the past two days, I have looked at three different properties that were $100,000-$200,000 under market in my estimation.  Given they were located in my primary market, my estimation is pretty darn accurate if I do say so myself.  And I do.  

It seems that the investor activity on the fringes of the Valley is trickling into the more central locations like McCormick Ranch, South Scottsdale and the Kierland area.  Why?  Because of the outbreak of crazy values like these few I ...

The concept of trading houses is not a new one.  It was around when I started in this industry nearly a decade ago, and it was around when my father was just launching his career in 1974.  What is unique, at least in terms of the local Real Estate market in the greater Phoenix area, is that the current climate makes the seemingly farfetched idea more feasible today.

Until the woes of the past year and a half, the Valley maintained a steady appreciation schedule for nearly 15 successive years.  The market may not have been wholely dominated by sellers until the ...