by Dru Bloomfield on October 26, 2009
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 considerably.
by Dru Bloomfield on July 12, 2009
Some people chase rainbows, others chase tornadoes. Me, I go for sunrises.
Today, I grabbed my camera and jumped on my bike, to snap a few. This is from the east bank of Sandpiper in McCormick Ranch.
Reflection of the morning in McCormick Ranch – looking east from Sandpiper to through the golf course to Camello Vista.
From the McCormick Ranch golf course (north of the McCormick Parkway) looking northeast. McDowell Mountains are in the distance to the left. Community of Santa Fe is across the water.
Heading back home on McCormick Ranch golf path (Pine course) looking back over my shoulder for one more glimpse of the Sunday sunrise. Community of Camello Vista is to the right.
Crossing the golf cart bridge heading back into Sandpiper. The water in the golf course lakes is so calm in the morning.
Great way to start the day.
.
by Dru Bloomfield on March 4, 2009
Click on photo to see more about this patio home
Scottsdale has a number of seasonal rentals still a few available for this season. “Seasonal” is the term we use for turn-key, or resort rentals. These properties (either single family homes, condos, townhouses, or patio homes) are fully outfitted with all furnishings, linens, and a full kitchen, ready to cook and entertain, relax and play.
Many of our winter visitors are repeat clients, finding a place they really like and leasing it as much as a year in advance. Seasonal rentals are most occupied in the months of January through March, but winter rates often start as early as November and can run into April. Winter rates are usually 50-100% higher than off-season rates, and many communities have a one month minimum for lease terms.
I have a two bedroom patio home listed for either short or long term rental in Sandpiper Scottsdale, a very green community surrounded by the McCormick Ranch Golf Club. It’s got a beautifully updated kitchen and has a warm and welcoming feel. Located in a gated community, with a park-like setting and a heated pool, it’s truly is paradise in the winter. The normal winter lease rate is $4200. In the summer, it’s $2500.
Plus, the owner has dropped the rate to $4000 for a month’s rental in through the end of April. He’s had a long-term renter in the unit for the past 15 months, so we’ve not been showing it much. Now that the property is vacant again, he is motivated to have someone enjoying the home again.
This same owner has another patio home in the same Scottsdale community. This one is already rented through March, and is only available in April this year. It’s a larger home, with a private patio that makes it easy to cook out every night. Two spacious masters, plus a huge den that has office space and two Murphy beds. The current tenants love it and are already talking about coming back next year.
Click to see photos of home
Later today, I will be adding another listing, this one is unfurnished and is only available on a long-term lease, with a minimum 6 months. I have had this home listed for sale already, so you can see more about the home, while we are getting the lease listing on-line. This home will be available for $2250 per month. (And of course, the owners would be delighted to sell it too!)
Click on photo to learn more
And if you’d like to see a bit more of the gorgeous green Sandpiper setting, please view our slide show:
Sandpiper is a community of 160 patio homes located on 55 acres in the heart of McCormick Ranch. Several golf course homes are also for sale. If you’d like to know more, just let me know!
by Dru Bloomfield on January 10, 2009
I have had two condos listed for sale in the Villages 5 complex, just south of Mountain View Road, between 92nd and 96th. One closed several weeks ago, and the other ground level unit is still available. The condo has a prime Scottsdale location, close to shopping, medical office, the hospital, and the freeway. Walking paths connect the community, and offer quiet spaces for dog walking and the like. Tennis courts and community swimming pools are also strategically located.
For more information on this condo and its surrounding location, please visit www.9420Purdue.com.
A view of this move-in ready condo:
And photos of the beautiful green grounds:
by Dru Bloomfield on November 13, 2008
Believe it or not, you can buy real estate in Scottsdale for under $100,000, especially in today’s market. Granted there are not many homes in this price range, when compared to the whole Scottsdale market, but they are available. Twenty eight homes, primarily condos, have sold in the city at these entry level prices, since the first of the year. Most are located in the southern part of the city, but a few are further north, in McCormick Ranch.
Scottsdale Homes Sold in 2008 for $100k or less
Here are a few of the details:
| Type |
# Sold |
Avg. Size |
Avg. Price |
| Coop |
5 |
683 sf |
$ 52,760 |
| Condo |
18 |
703 sf |
$ 84,344 |
| Townhouse |
3 |
893 sf |
$ 95,600 |
| Patio Home |
1 |
624 sf |
$ 75,000 |
| Manufactured Home |
1 |
648 sf |
$ 99,900 |
| Detached Single Family |
0 |
- |
- |
Most of the condos and townhouses are in Belcara at McCormick Ranch (85258) and Woodland Springs (85251), with others in Ciento, Rancho Antiguia, Summerfield, Hallcraft Villas, and Quail Point.
As of today, three homes listed at $100,000 or less are under contract, and 48 more are on the market. The average time to sell since the beginning of the year has been 110 days, but in looking at just the past three months, the average has dropped to 74 days. Still, we have a significant inventory in this price range.
Prices for single family homes are starting at $121,000 today. In my next market report, I’ll focus on the homes price between $100,000 and $200,000, since that is where most first-time home buyers are looking.
