The Waters at Ocotillo – Chandler’s newest lake community

New Chandler lake community-The Waters at Ocotillo opens Dec 2012.

In contrast to seeking out large land parcels to develop in outlying areas of the valley, Pulte has chosen to build this lake community on 28 acres in Chandler near many Chandler high tech semiconductor companies and close to the 101 & 202 freeways.  There will be a total of 96 new homes, 44 of which will be waterfront homes.  The Waters at Ocotillo will be part of the 2,700 acre Ocotillo master planned development which was established in 1983.  The lot sizes will vary in size from 5,900 sq.ft. – 15,000 sq.ft.  There will be two different Pulte series that will be built, the 4000 and 5500 series.

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Are addresses in the Phoenix area really that helpful?

Figuring out Phoenix and surrounding city addresses

Yes, an address is the unique identifier for a location within a city, and should let everyone know exactly where you live, but how useful is it?  How are addresses determined and what do they mean? Most addresses include a north/south/east/west coordinate.   North, south, east or west of what? Are all addresses based on one central coordinate in downtown Phoenix, or does each city have their own coordinate sytem?  How much  do we really rely upon an address to arrive at a destination?  If you know the answers, congratulations; if not then  read on.

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Villas at Ocotillo Chandler Waterfront Community

Villas at Ocotillo in Chandler

The Villas in Ocotillo originally opened in 2006 and within the first year waterfront properties were selling for over $1 million.  The builder was Kitchell Custom Homes and the luxury interiors included Cantera fireplaces, Viking appliances, wood beamed ceilings, alder doors and 2×6 construction. Some floor plans even included basements. Of the 49 homesites, the original  builder sold 19 before the remaining lots went into bankruptcy.  What happened next… read on.

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Ocotillo Luxury Waterfront Home for Sale in Chandler

Waterfront Home by luxury homebuilder TW Lewis in Ocotillo

Ocotillo in Chandler is home to many luxury waterfront homes in the east valley.  This 3,076 sq.f.t luxury home was built by TW Lewis and provides ample room for a growing familly in one of Chandler’s most desireable neighborhoods.  Recent upgrades include travertine, hardwood flooring, and pavers in the backyard.  Sunsets are conveniently enjoyed from the balcony off the upstairs master bedroom.
Satellite view of waterfront home

 

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Chandler Lake Community – Raintree Ranch Waterfront Homes

Raintree Ranch in Chandler

One of the smaller Phoenix waterfront lake communities is found in Chandler, conveniently located near the 101 freeway and Ray Rd. With less than 175 homes, 36 are situated on two man made lakes, built between 1995 and 1997.  A unique feature of this Chandler lakefront community are the generous views of the lakes as you drive along Raintree Way, allowing all residents to enjoy waterfront views as they travel through the neighborhood.  Walking paths along the lakes combined with mature landscaping creates a tranquil neighborhood environment.

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Phoenix area distressed sales in 2012 compared to 2011

Distressed Sales – What a year has done.

Last year buyers enjoyed a real estate buffet that served a combination of foreclosures/REO’s, short sales, or normal/traditional sales at historically low prices.  The inital buyer consultation included an explanation of the in’s and out’s of each.  Frustrated sellers knew they were competing with distressed sale pricing as they tried to obtain the highest price for their traditional sale that had seen years of declining value.  It was common for most valley cities to have a majority of the sales to be distressed foreclosure or short sale transactions.   Distressed sales as a percentage of total sales were above 80% for a couple of Phoenix valley cities! It was the exeception for a city to have less than 50% of total as distressed sales.  The chart on the left shows the percentage of sales by each category for May 2011 for each valley city.  As you know things change in real estate, so read on to see what has happened since last year.

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Southeast Valley Recreational Centers in Gilbert and Chandler

Gilbert and Chandler Recreation Centers

Now that school is out, finding activities for children and teenagers who now have more time on their hands can be a daunting challenge.  It’s not like you can say “go outside and play or ride you bike”.  If they do in typical summer time 110 degree weather,  they may not make it back.  Read on to find out about some of the recreational centers and public pools available in Gilbert and Chandler.

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Luxury Waterfront Property in Phoenix, Chandler, Scottsdale, Gilbert, and Tempe,

Phoenix Luxury Homes in Lake Communities

Phoenix is home to many custom luxury homes.  When luxury homes are on a waterfront lot, it adds another dimension to its desireability and uniqueness.  In many cities, the most appealing and expensive homes are those found in  lake communities.  For some buyers, waterfront homes represent the perfect paradox, a waterfront home in the desert.

To see a quick link to waterfront homes in the Phoenix, over $400K, Phoenix waterfront homes.

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Upcoming Wave of Phoenix Foreclosures?

Headlines quick to report foreclosure activity rises in 21 states

News of this activity seemed to cast doubt on a housing recovery, and gives hope to buyers  who have been watching the market for great deals that have seemed to evaporate in the last 12 months. One article even said it was the 2012 tidal wave of foreclosures.  The trap that many fall into is not understanding the underlying cause as why this is happening in these specific states.   Some states have been impacted harder than others; Florida, California, Arizona, Georgia, and Nevada, to name a few.  However, the increase in foreclosure activity in this case can be better traced to the foreclosure process employed by a state.  The above graph shows the pending foreclosures for Maricopa county.  No tsunami or tidal wave on the horizon for Arizona.  Read on to find out why.

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Where’s the Phoenix real estate market going in 2012?

Is the real estate market changing?

For 6 years the Phoenix market has been a declining market with some property values declining by more than 50 – 60% from their peak.  At last, many of the fundamentals strongly indicate that home prices bottomed out in 2011, and 2012 will reward homeowners with long awaited appreciation, a word that hasn’t been spoken since 2005. The graph to the right shows sales price/square foot for homes sold in Gilbert.  Instead of the typical year end slump, 2011 finished with a positive upward trend that has continued in 2012.  In fact, the average price per square foot for Gilbert homes for 2012 is higher than in 2011.  The following fundamentals show that 2012 will be a transition year with significant changes compared to previous years.

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