Gated Lake Subdivisions and Waterfront PropertyWhen looking for Phoenix area waterfront homes, your dream home could be hiding behind one of the gated lake communities featuring waterfront homes. These unique gated subdivisions are spread throughout the valley in cities and towns such as Chandler, Mesa, Maricopa, Scottsdale, Tempe and Gilbert among others.
Gilbert, Chandler and Mesa boast Waterfront Trail SystemsAn almost hidden feature of Gilbert, Chandler and Mesa is the recreational trail system that has been developed along the canals that have been in the east valley longer than 99% of the homes. The Consolidated Canal, 18 miles long runs thr0ugh Mesa, Gilbert and Chandler and dates back to 1891. The development of recreational paths along SRP canals has become an attractive amenity in many cities. Bikers and joggers will be most familiar with the paths since they offer a welcome alternative to narrow sidewalks, inattentive passing cars and frequent crossings at stop lights. Websites that cater to runners and joggers even calculate the mileage between beginning and ending points along different canals. Consolidated Canal Running Route or the Western Canal Mileage Calculator
The graph to the left shows the the monthly price per square foot of sales for the last 10 years for Gilbert and Chandler. A good opportunity to see where we are compared to pre-bubble sales activity. The twin cities of Gibert and Chandler have similar trends for the last 10 years. Current price per square foot is similar to 1993 levels. Do other Phoenix area cities have similar patterns?
A Phoenix water ski home or lot is a unique type of Arizona real estate. Man made with one of Arizona’s most precious resources there are only 6 water ski communities in the valley. Ready for some Phoenix water ski real estate trivia? How many water ski homes / lots are there in Phoenix? See the answer at the end of this post. Right now we’re going to look at a recap of the activity and sales of homes and lots during 2009 and year to date in 2010.
Where do you go to find a unique local restarant that serves award winning BBQ? Head south on Gilbert Rd. to Joe’s Real BBQ in the historic section of Gilbert. Joe’s opened for business in January 1998 and has been satisfying cravings for barbeque brisket, pulled pork, pit ham, pork ribs, chicken and turkey breast ever since. The food is award winning and you’ll also appreciate the old-style atmosphere that is one of a kind. Where else will you find a 1948 John Deere tractor in the middle of the dining area? The New Times awarded Joe’s the Best of Phoenix for Old-Fashioned Charm. If you are into sauces, you have your choice of spicy, or “we dare you” hot which uses habanero peppers to turn up the heat. My favorite lunch time meal is the BBQ sampler with over 3/4 lb. of ribs, chicken, pork and beef. Most plates are in the $8 – $12 range. Joe’s also features a comfortable and large outdoor dining area.
While award winning Power Ranch may not have waterfront homes, it is such a popular and amenity rich community that it is impossible to ignore, and this year Power Ranch celebrates its 10th anniversary. This 1,414 acre development boasts 240 acres of open space and greenbelt parks and a 26 mile trail system that weaves throughout the community. Power Ranch was voted the number one community in “Ranking Arizona” for 2003 – 2005, and azcentral.com’s Best list named Power Ranch as the best masterplanned community in 2009. These awards serve to confirm what the residents already know, that Power Ranch is a highly desirable family friendly community.
New REO lot comes on the market in Santan Lakeside Estates and sells in 1 monthLot 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. See sales update further down in article.
Hospitals Keeping Up With Growing East ValleyThe 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.
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.
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.
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