Scottsdale Water Rate To Increase

From the City of Scottsdale:Starting in November, you’ll notice an increase in your water rate.  Overall water fees will increase 2.5 percent, raising the typical customer’s bill by 88 cents.  The Scottsdale City Council approved the increase after public hearings last spring.  For questions about water rates, call (480) 312-5685. Photo Credit: Randy Son Of Robert   By the way, all Scottsdale homes are not serviced by the City of Scottsdale.  The American Water serves a band of homes in the area surrounding McDonald Drive.  Another small percentage of homes in North Scottsdale are either on wells, or have water hauled in by truck and stored on the property. As a Scottsdale home seller, you are obligated to share this information in the Residential Seller’s Property Disclosure Statement you complete when you list your house. Of the 4,462 homes on the market in Scottsdale today, 4% have water sources other than the city, so while the number is few, you would definite want to know the quality, availability, and cost of water before completing your hyome purchase.  If you do buy a bank-owned home, or the seller disclosure is not provided for some other reason, BE SURE to do your research ahead of...

McCormick Ranch Real Estate Update

I haven’t done a market report on Scottsdale 85258, home to the “Ranches”…. McCormick, Gainey, and Scottsdale.  In January, I posted this same chart in the post: McCormick Ranch Real Estate – Least Distressed Area of Scottsdale. A few changes have occurred in past ten months, while some metrics stayed the same. What you will see when you compare now and then: The percentage of homes on the market that are foreclosures or short sales remain under 25% and in approximately the same ratio, with more short sales than foreclosures. The percentage of sold properties that are short sales or foreclosures are about the same, approaching 33%.  However, foreclosures now make up a greater portion of those sales.  Even more importantly, 67% of the homes sold today in this part of Scottsdale are traditional sale, with no bank involvement. The biggest differences you will see are in price.  Homes were being listed at an average of $200-300 per square foot at the beginning of the year.  Now, that range is $175-250/sf. Sold prices are averaging in the $150-200 per square foot range, while earlier this year, they were $175-275.  The biggest change has been in the short sales. What is missing here are the number of sales that are being used to calculate these statistics.  I’ll be taking a look at those figures in the future. For now, know that the McCormick Ranch is fairly stable, even though average home prices have dropped...

Earthquakes in Arizona

Yesterday, a client asked me if earthquakes were an issue in Scottsdale, and I told him I’d not heard of any, but suggested that further research was needed.  And then coincidentally, I’m sitting at my desk this morning, taking an on-line class on disclosures to meet my real estate license requirements and reading  about water, flooding, fissures, and earthquakes! What I did discover is that Arizona does have a history of earthquakes. As I dug a little deeper, I discovered reviewed the maps and read the article, Earthquake Hazard in Arizona.  Faults do exist all over the state, but most  most Arizona earthquakes have occurred in the Flagstaff area, or to the west of Yuma (in California). The Arizona Geological Survey web site gives more detail: Arizona Earthquakes.  Large earthquakes in Arizona are rare, but not unheard of.  See the attached map for the distribution of large historical earthquakes in Arizona.  The Colorado Plateau of northern Arizona is particularly prone to moderate-sized earthquakes.  Dave Brumbaugh of Northern Arizona University maintains a network of seismometers (a device to sense and record the ground acceleration associated with earthquakes) to monitor activity there. Yuma, Arizona, situated in the southwestern-most corner of Arizona, is at high-risk from powerful earthquakes from the nearby San Andreas Fault and its splay faults, the Imperial and Algodones faults.   In 1979, rupture along the Imperial fault produced a powerful, magnitude  6.4 event, sending surface waves (Love and Rayleigh waves) racing towards Yuma, 70 miles to the east.  Observers in Yuma reported the ground rising and falling before them, in a manner similar to water wave behavior in oceans...

Six Scottsdale Solar Homes on Tour This Weekend

The City of Scottsdale’s Green Building Program emailed me the following info on the Valley of the Sun – Phoenix Metro 2009 Solar Home Tours this weekend, where several Scottsdale homes will be open to the public this weekend, from 9 am to 3 pm.  It’s a great opportunity to see some of the latest green building techniques, as well as the variety of the applications.   The addresses and schedule of the six Scottsdale open houses, along with a brief description of techniques used follow the city’s announcement. ARIZONA JOINS NATIONAL SOLAR / SUSTAINABLE HOMES TOUR – OCT. 24-25 – VALLEY OF THE SUN Arizona joins the 2009 National Solar Home Tour, the 14th annual tour coordinated nationally by the American Solar Energy Society (ASEA). The national tour is the world’s largest grassroots solar event with more than 150,000 participants, taking place in nearly every state across the U.S.  This fun event offers open-house tours to show how you can use solar energy and energy efficiency to reduce monthly utility bills, to live more comfortably within your local environment, and to help tackle climate change. The Arizona tour, “Living with the Sun – Arizona Style” features tours across our State.  Specific information on locations, times, and types of sustainable technology applications can be found on the Arizona Solar Center web site: www.azsolarcenter.com. The Phoenix Valley the tour will be held on Saturday, October 24th and Sunday, October 25th, from 9 am to 3 pm each day. Most locations on the tour are free. The tour provides an informal way to meet people who are using a whole range of approaches to...

Insight into the Hot Phoenix Real Estate Market

The media talks about the hot Phoenix real estate market, yet most home sellers I meet are still operating from a perspective that no one is buying homes these day, because the market is so bad! However, any home buyer will tell you, it’s a battle out there. Multiple offers are common in the lower price ranges,  and with the deadline of the $8,000 tax credit coming up quickly, last-minute shoppers are finding that a full-price offer is often not enough. You see in the chart above that overall Phoenix has been experiencing a seller’s market since May of this year.  You can also see that the steep incline has been tapering off over the last couple of months. When you look at the next chart showing Months Supply by Price Range, you will see that this year’s trend continues:  The lower the price of the home, the lower the housing inventory. We are seeing just a bit of change though.  The Seller’s Market that we were experiencing this summer is cooling off in the $250-350K range. Homes priced up to $250K have less than five month’s supply.  Seller’s have the upper hand here.  Multiple offers are common. Between $250,000 and $400,000, we are seeing a balanced market. Over $400K, Buyer still have a lot of negotiating power, depending on how the Seller has priced the home. If you’d like to go back and see where the market was earlier this year, these two posts will help: Buyers Market? Sellers Market? Depends. – August 2009 view Why is Scottsdale real estate market behind the curve? – June 2009 view...