Phoenix Arizona Waterfront Homes

 Regatta Pointe Condominiums Offer Great Proximity to Tempe Town Lake Amenities

Regatta Pointe condominiums located right across the street from Tempe Town Lake were built in 2002.  While they cannot be considered waterfront property, some of the condominiums have fantastic views of Tempe Town lake.  This Tempe lakeview condominium development has 136 units; 116 single level units and 20 larger two story units.   A heated community pool and spa are at the center of the community.  The location features proximity to an endless list of amenities such as parks, the light rail, Mill Avenue restaurants and entertainment, and a cultural center.  Recent sales of distressed properties such as short sales or bank owned units have sold for 60% of their highs in 2005 – 2006.

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Tempe Town Lake Inflatable Dam Bursts

At 9:45 pm on  Tuesday,  July 20th, one section of the inflatable dam at Tempe Town Lake burst releasing 750 million gallons into the Salt River.  Since it occured at night nobody was on the lake and one visitor at the west end of the lake was able to capture the release on video.   The day after the failure, the Town of Tempe and Bridgestone, the manufacturer of the inflatable bladders, squared off and each offered explanations of why the other party was at fault.  Obviously, something went wrong somewhere because according to the Town of Tempe  website, “The bladders have special ozone and ultraviolet ray protection from the southwestern climate and have been tested extensively for durability.” Bridgestone contends improper maintenance since  the bladders need to be kept moist and cool through the use of a sprinkler system that was not being used at the time of the failure, while the Town of Tempe Mayor counters that the poor design of the dam made it difficult to use the sprinklers effectively.

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Gated Lake Subdivisions and Waterfront Property

When 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.

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New Ownership and Pricing at Bridgeview at Hayden Ferry Lakeside

2009 was a transition year for the Bridgeview urban luxury condominiums. Denver-based Condo Capital Solutions stepped in to purchased the 64 unsold units for $20.3 million in August 2009.  Sales in early 2009 were virtually non-existent and only 40 of the total 104 condominiums had sold.  Revised pricing has re-ignited interest in this luxury waterfront  project.  Originally, sales of $591K for 1,283 sq.ft, or $923K or 1,921 sq.ft. were the norm. Now prices are 50 – 60% of  original 2008 offering  prices.  Over 20 units have sold in the first quarter 0f 2010.

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 Edgewater Waterfront Condos at Hayden Ferry Lakeside

 The first Hayden Ferry Lakeside waterfront condo tower was Edgewater with 40 units that sold out in 2006.  It was rare to see a sale price less than$500K. Now a sale price over $500K would be equally surprising.  Sold near the height of the real estate peak, prices are resetting through foreclosures and short sales, or the rare instance where the owner has enough equity and is willing to list at market value.  A good example is a recently listed 1,650 sq.ft. 3rd floor bank owned condo that originally sold for $625,000 in June of 2006.  It is now listed at $282,900,  or 45% of the orginal sales price. 

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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.

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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.

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The Oasis at Anozira in Tempe Lake Community

This small, well hidden lake community could easy be over looked by Tempe waterfront home and lake community  seekers, and that would be unfortunate.   This community has unique features that make it a very desirable lake community in Tempe.  A residential development of approximately 140 acres and 35 waterfront homes, it can be easily missed.

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The next time you turn on the faucet or take a shower, take time to realize that you live in a desert where the average rainfall in the Phoenix valley is less than 9 inches/year but  the average person uses 150 gallons of water PER day.  So how do we satisfy our “thirst” for water that exceeds our natural supply  in the valley? Read the rest of this entry

Days On Market by Price Range and Pending Sales for Phoenix Real Estate

The media continues to publish at every chance the woes of the housing industry; mortgage meltdown, rising foreclosures, negative equity and short sales, builders declaring bankruptcy, rising unemployment, etc.  These are valid concerns and I see them taking their toll everyday.  But somedays, it doesn’t feel like it.  Especially when there multiple offers on short sale after just three days!  Or competing with 9 other offers for a lender owned property that has been on the market for a week.  It feels like 2005 again. But the typical buyer response is “But it’s a buyers market.” Or ” I just read that home prices are still going down!”  I believe that the Phoenix metropolitan area median price will continue to trend downward this year, but remember it is the median calculation for an extremely large market covering many sub-markets and price ranges.  Real estate is local and cannot be lumped into one all inclusive headline as the media loves to do. So let’s break it down by price range and cities.

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