Phoenix Neighborhood Update-Entrada, #3

13 02 2010

Back again for the round 3 market snapshot of the Entrada Neighborhood in Northwest Phoenix, Arizona (includes Entrada, Entrada North and Entrada Northeast). As I stated in my first update and my Entrada neighborhood Profile, it is a neighborhood of several housing options and close proximity to Arrowhead Mall (aka Arrowhead Towne Center), Shops at Norterra, and both the I-17 and Loop 101 Freeways in Northwest Phoenix, Arizona.

As of February 12, 2010:

10 active listings (2 of which have offers submitted to the lender, awaiting the short sale process)

Prices ranging from $139,999 to $595,000

5 homes are under contract and on schedule to close very soon

1 home has closed within the last 1 month (since January 10, 2009)

Sold for $178,000.  It is a 2009 sq ft home, which breaks down to $88.60 per sq ft.  Homes sold over the past 3 months average of just under $100 per square foot, so needless to say, this buyer got a great deal when looking purely at price per square foot.

If you like the Entrada neighborhood in Northwest Phoenix, contact me via email/call/txt.

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Housing Tax Credit…TIME IS ALMOST UP!

4 02 2010

If you are a first time home buyer or a current homeowner, and are still on the fence about whether or not to buy, read the information below regarding the tax credit and then decide if you still want to wait.

The original tax credit has been extended and is almost over with!  Here are the basic terms:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Can YOU get this this?

Answer yes if you are

  • a first time home buyer, or if you have used the home being sold or vacated as a principal residence for five consecutive years within the last eight (if you purchase before April 30, 2010).  To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.
  • looking to buy a primary residence (single family home, condo, townhome, co-ops)

April 30, 2010 is fast approaching, but YOU STILL HAVE TIME because you don’t have to CLOSE by April 30 to get the credit.  If you have a home under contract by April 30, then you have until July 1, 2010 to close.

How is your amount determined, you ask?

Price and Buyer Income.  Under the Extended Home Buyer Tax Credit,

  • credit may only be awarded on homes purchased for $800,000 or less.
  • single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

Do you make more than that? There is still hope!  Some buyers may still be eligible for the credit, however, the credit amount decreases as your income increases.  See below.

  • The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

Oh, and the icing on the cake?  YOU DO NOT HAVE TO PAY THIS BACK!

Here is the 2009/2010 Home Buyer Tax Credit article from which I acquired my information.

In the words of SnickersWHY WAIT?

Contact me before it’s too late.






Phoenix Luxury Home of the Week #3

2 02 2010

Week 3 of the Million Dollar Monday (again, technically Tuesday since I’m posting a little late) luxury home pick!  Hopefully everyone is getting their week off to a positive start.

Phoenix area Luxury Home pick #3

I picked this luxury home for its garage space, location, curb appeal and overall exterior aesthetics, and interior materials and finishes.

STATS

  • Peoria, AZ
  • 6 bedrooms
  • 5.5 baths
  • 4,154 sq ft main house + 1,106 sq ft guest house
  • 7 car garage
  • just over an acre of land (1.16 acres)
  • $1,250,000 – ($237.64 per sq ft)

That’s all for Phoenix area luxury home pick #3!  Check back next Monday to see pick #4.

Please check out my previous Luxury Home Picks while you are browsing!

Do you have similar taste? Maybe not? Let me know in a comment!

If you would like to discuss Phoenix area luxury real estate, contact me via email/txt/call

-Colin Stevens





Top 3 [Not so] Pricey Phoenix Pads, 4th ed.

4 01 2010

Here we are, once again to touch base with the Phoenix luxury real estate market!  As stated previously, I am juggling this series between the $1-3 MILLION range and the $3MILLION+ range.  This post will be from $1-3 MILLION, however, 156 homes have closed since the last post!!  After noting the drastic increase, I am branching this off into it’s own series, and will do it monthly (as long as the market allows).

Interested in Phoenix luxury real estate?  Subscribe to this blog, as I try to do one of these posts along with luxury market updates regularly.  Check out my previous [not so] Pricey Pads posts!

This time around, my top 3 are as follows:

STATS: This gorgeous Gilbert estate sold for a mere $1,010,000 in late November.  It has a comfortable 6,875 square feet, 6 bedrooms, 7 bathrooms, 6 car garage, lap pool, and it all sits on1 acre of land.  Oh yes, I almost forgot to mention it is 1 acre of LAKEFRONT property.  You read correctly, we do have man made lakes (not as dry of a desert as one would think!). Santan Lakeside Estates is one of the select few Phoenix Metro area lake subdivisions that actually allow boating/swimming/skiing, which is a TREMENDOUS PLUS for the water sport enthusiast.  The breakdown on the price per square foot is $146.91.  Now that you’ve read about it, feast your eyes on the photos.

STATS: Here is a first for the Pricey Pads Series; a home on the west side to make the list!!  It resides in Peoria, AZ, in Copper Creek Estates (very close to the neighborhoods of Entrada, Terramar, Eagle Ridge, etc). The home consists of 6,382 sq ft, plus an 867 sq ft guest house totaling 7 bedrooms and 6 bathrooms.  It also has a 4 car garage, pool, spa, and is pleasantly situated in a gated community on just over an acre of land. Sold for $1,200,000 at the beginning of December, which brings the price per square foot to $188.03.  Check it out!

STATS: The next city is a repeat offender, home to the majority of homes in these posts.  You guessed it, Paradise Valley!  Hillside 2.5 acre lot accommodating an outstanding 11,003 sq ft home.  This 2004 estate in La Place Du Sommet came complete with 4 bedrooms, 6.5 bathrooms, a 4 car garage, negative edge/infinity pool and spa, wine cellar, and views GALORE.  It sold for $2,600,000 just a few days ago, making the price per square foot $236.30.  One of the best in the area!  Where else could you get a hillside home of this magnitude for only $2.6 million?!  Shall I say eat you’re heart out California?

Hope there was much pleasure taken in viewing this month’s [not so] pricey pad post.  Stay tuned for more on the luxury real estate updates like this!

-Colin Stevens-

Check out the entire Pricey Pads Series!





Phoenix Real Estate…Come with Your Guns Blazin!

12 11 2009

A short video about a surprisingly common misunderstanding I’ve been experiencing with multiple clients.  Also a tip for anyone thinking about Phoenix real estate and looking to pick up a steal in today’s market.

P.S. the 1st website in the credits is supposed to read colincs.wordpress.com (not.co)

Here are the numbers for you to browse over, straight from ARMLS!  These are the monthly number of homes SOLD for 2009.

January February March April May June July August September
4,742 5,477 7,636 8,564 9,284 9,327 9,095 8,007 7,906




Final Walkthroughs…to do, or not to do; that is NOT the question.

16 06 2009

Just posted another magical blog about an interesting story I heard regarding a shady deal a fellow Realtor dealt with.  As you click the link below, remember these two things…

1.  ALWAYS DO A FINAL WALKTHROUGH, regardless of the situation (i.e. foreclosure, short sale, regular resale, etc.) when buying Phoenix/Scottsdale/Glendale real estate, or real estate anywhere for that matter.

2.  ALWAYS CONTACT COLIN STEVENS (me) when thinking of buying or selling Phoenix/Scottsdale/Glendale real estate or future real estate in the Phoenix/Scottsdale/Glendale Arizona area.  my contact info is at the bottom of the post=]

Talk to you soon!

Phoenix/Scottsdale/Glendale Arizona Final Walkthroughs

-Colin Stevens, a.k.a colincs for everyone familiar with Twitter





Latest PhoenixPowerSearch.com Real Estate Blog Post

17 03 2009

I just posted a new blogpost on my team’s website about the housing market, which I definitely think you should check out if you have any interest in the economy/housing…

Good news on the Housing Front

In other updates, I am currently putting together materials for vlogposts in the near future.  Keep an eye out for what is to come!