Phoenix Arizona Waterfront Homes

New REO lot comes on the market in Santan Lakeside Estates

Lot 17 on the west side of the ski lake at Santan Lakeside Estates just came on the market  the last week of February bringing the total lots for sale to 3. The other available lots are 3 and 17.   Many water ski enthusiasts and owners will be watching this specific  transaction as it will aid in determining the current market value of a Phoenix valley water ski lot.  So how did they set the list price for this ski lake lot at $340,000?  My opinon? You have to go back to 2009 when lot 13, previously a bank owned lot was initially listed for $480K.  After periodic price reductions that are consistent with bank owned property, the list price eventually reached $399K,  an offer for $340K was accepted and closed in August 2009.  When that is the only comparable sale, it makes sense to use it!  Getting back to lot 17;  a couple of early offers were received within days of  being listed, but considered too low by the bank.  Time will tell as the ski season approaches and the bank watches the days on market increase , and  periodically considers price reductions.

Read the rest of this entry

Hospitals Keeping Up With Growing East Valley

The typical growth pattern in Phoenix Arizona is the following: the residential homes are constructed, the developers watch the population increase  until the critical number to sustain grocery stores and retail establishments is reached.  Then we cross our fingers and hope that  road construction catches up.  A  longer leadtime but very important infrastructure component is the addition of hospitals to meet the healthcare demands of the growing community.   The east valley has seen the addition of 4 major hospitals open their doors to the public  in the last 4 years.  The Mercy Gilbert Medical Center, pictured above opened in June 2006, Mountain Vista Medical Center in Mesa opened July 2007, Banner Gateway in Gilbert opened Sept. 2007, and Banner Ironwood in Pinal County is scheduled to open in November of 2010, even though construction was finished Fall of 2009.

Read the rest of this entry

Severe thunderstorms bring needed rain but cause flooding

It  is almost pointless to talk to someone in July when the temperature is 110 degrees about what happens in Phoenix when it rains. You want to point out how planned communities have drainage plans and retention basins, etc.   The situation in the summer  may be that no precipitation has been seen for months, so they wonder why you’re even bringing it up. Well, the last couple of day we’ve been drenched and now those plans and preparation are very much needed and appreciated.  Meteorologists are even saying that we may see as much rainfall in this 5 day period as we saw all of last year!  Yesterday there was even a tornado warning,  and many roads have been closed because of  flooding.  The picture above is not a lake water feature for a subdivision.  It may be for the time being, but actually it is a retention basin with grass in the community common area that accumualtes the runoff from storms such as the one we are having that has dumped over 3″ inches of rain in a 24 hour period in some parts of they valley.

Read the rest of this entry

Chandler and Gilbert Average Prices for Sold Homes in  2008 & 2009.

I heard a saying that accurately describes our current media.   It is credited to Mark Twain,  “If you don’t read the newspaper, you’re uninformed.   If you read the newspaper, you’re mis-informed”. I guess the more things change the more they stay the same! This description also applies to those  5 second sound bites regarding real estate in Arizona.   I feel more comfortable when I can see the data and draw my own conclusions.  It is an oft used phrase but all real estate is local so what applies to the country does not necessarily apply to our corner of the state.   Here’s a local look at two desirable cities in the Phoenix area, Gilbert and Chandler.

Read the rest of this entry

Town of Gilbert Is Safest Community In Arizona, According to Data

According to CQ Press, an independent publisher, Gilbert is among the safest cities in the United States, 24th among cities with over 75,000. For municipalities in Arizona, Gilbert ranks as the safest community.  The analysis used crime and population data as reported to the FBI by local law enforcement agencies for 2008.

This is great news for lovers of Gilbert waterfront homes, lake communities,  water ski lake homes and wakeboard aficionados that are looking at homes or property in such subdivisions as The Islands, Val Vista Lakes, Playa del Rey Estates, Crystal Point, Santan Lakeside Estates, Stonebridge Lakes, Wind Drift and Lago Estancia.

Read the rest of this entry

See What Canyon Lake Has To Offer

Let’s face it, to live on a lake in Phoenix or any surrounding city may not be a possibility, especially when you are are looking for a place  to  water ski, wake board or use a hydrofoil.  To water ski, you are limited to 6 subdivisions in the valley. When a client from Utah with a passion for an “airchair” or hydrofoil was looking for a home, we had to look  close to a lake or reservoir since hydrofoils require a depth well beyond the typical  6 – 8 foot depth of a residential man made ski lake.  Or the goal may be to find a home close to a lake if you love fishing. The good news is that there are many Phoenix area homes near lakes or reservoirs.  The cities or towns of Mesa, Scottsdale, Glendale, Peoria, Surprise, Phoenix, Cave Creek, Carefree, Apache Junction, Fountain Hills and Gold Canyon enjoy good access to lakes such as Canyon Lake, Saguaro Lake, Lake Pleasant and Bartlett Lake.

Read the rest of this entry

Val Vista Lakes Clubhouse – An Integral Part Of This Lake Community

You know when a community pool is popular when it is early November and residents are still enjoying lounging around the pool, as seen in the picture to the right. This Jr. sized Olympic pool is just one of the features of the Val Vista Lakes Clubhouse and Community Center.  In addition you’ll find a lagoon swimming pool with a sandy beach, a cardio and weight training facility, raquetball courts, a tennis club with 8 tennis courts, and a banquet center for social events.

Read the rest of this entry

Post Tension Slabs  reduce settling issues

This giant checker board is actually the “guts” of an unbonded post tension slab.

Post tension slabs are used to create a monolithic slab that is stronger than the typical slab and foundation that is poured in stages.  Post tension slabs are used in many parts of the country where the soil has high shrink / swell potential, also commonly know as expansive soil because they resist soil movement.   Many parts  of the Phoenix area have soil that is expansive  and exhibits a high shrink / swell potential.  The USDA has published a shrink / swell potential map for Phoenix which identifies the cities or towns most affected by this condition.

Read the rest of this entry

The Ins and Outs of a Short Sale

Short sales have gone from being a rare and infrequent occurrence a couple of years ago to a significant number of the real estate transactions in Phoenix due to the number of homeowners with negative equity that need to sell.

Simply stated,  a short sale is when the proceeds from the sale are less than the amount owed and the sale is contingent upon an acceptable agreement between the seller and the seller’s creditor(s).

The chart above furnished by The Cromford Report shows the percentage of distressed sales for each city for August 2009.  The blue bars represent the portion of total sales that were short sales.  As banks are increasingly reluctant to foreclose, short sales are on the rise.  For example, short sales accounted for more sales than bank-owned homes during August in Anthem.  And in Fountain Hills, short sales were equal to the number of foreclosure sales.

Read the rest of this entry

Phoenix Luxury Waterfront Homes in Lake Communities

Some of the most coveted luxury home locations are those in lake communities with  a waterfront view.  Very few waterfront or lakefront homes are being built with the slowdown of new home subdivisions.  A luxury home on a waterfront lot makes a fanastic combination that provides the owner with a unique oasis setting in the desert.   The following luxury home links list waterfront homes above $500,000 in various parts of the valley.

Read the rest of this entry