Scottsdale and Paradise Valley Real Estate 

Please see ParadiseValleyLuxuryHomeCollection.com, our sister site for dozens of buyer and seller tips . Click here for link.

Dec. 11, 2023

Latest Homes Prices Scottsdale - Paradise Valley

DEDICATED SERVICE TO YOU 110% 365 24/7. When buying, my clients are led to the highest quality, most beautiful homes the market has to offer. Including all MLS market listings, off market listings and special search offerings. Selling clients experience a consistent level of high quality marketing and exposure that is second to none in the business. This has been evidenced by consistently record breaking community sales.

Latest - Home Prices Scottsdale From 1 Million to 30 Million. 

Read More - Bookmark this tab for updates.  Latest Home Price Update, Jan 27th - 2024 for Scottsdale, Paradise Valley and Phoenix - Comparisons and Trends Study. 

FLASH UPDATE - HOME PRICES PHOENIX -

On December 29th 2023 The monthly average price per foot across all areas and housing types - in the Armls data base was $283.87. Today January 27th 2024 the average price per square foot, of all active listings is $366.43 - surpassing all previous peaks -

Scottsdale Home Pricing From 1 million to 1.5 million

  In late November of 2023 the average price per square foot average price of closed sales price, for homes, closing between 1 and 1.5 million in Scottsdale was $435.69 psf. (based on 55 sales including both new construction and resale.) Today January 27th 2024 the average closed sales price for home between 1 million and 1.5 million is $450.51 Up 3.3 % . Today there are 265 active listings in the 1 mil to 1.5 mil price range.  Ranging in size from 1750 square feet to 4418 square feet.  In my last report in November, there were 235 active listings in this price range. Homes ranged in size from 1,183 Square feet to 5,343 square feet. 

For those reading , please let me know if you enjoy the comparison notes.  I consider comparison notes more helpful, than daily stats without comparisons. 

Scottsdale Pricing and Graphs and Data 1.5 million to 2 million

 SCOTTSDALE Luxury starts at 1.5 million and in late November 2023 we were are at $499.00 psf based on 28 sales. In November 2023 there were 196 active listings, Today January 27th 2024 The average psf SOLD price of homes is $524.63 with 195 active listings. The new average sale price is up 4.9% over our last review at the end of November. Inventory not moving up is a positive sign for sellers and and a less than positive position for buyers. 

Scottsdale Home Prices 2 Million to 3 million (Please call for additional numbers in any price range or area.

Scottsdale Home priced between 2 million and 3 Million are still a favorite of cash buyers and those home buyers more interested in comfort now. In November, the PSF sale price of homes in Scottsdale, selling between 2 and 3 million was $625.00 psf .  Today - January 27th, we are at $600.00 psf on all closed sales in last 40 days -sold between
2 mil and 3 mil *a decrease of 4%.

Homes Prices in Scottsdale 3 million and Over

SCOTTSDALE  In the November report, there were 14 - 3+ million dollar home sales. The average per square foot price, based on the 14 sales was $911.75 . With the highest sale being $13.850,00 million. Comparing numbers to Oct (equal date ranges)  there were 24 sales with an average psf sale price of $852.07 psf.  The highest sale in October being $12,000,00 million. TODAY January 27th 2024. The average per square foot sale price of homes over 3 million is $785.00 psf. with 38 sales. A quick review shows, increased unit sales however a lower average per square foot sales prices trend. The recent decrease represents an 8.1% drop in psf sale prices in this range. 

Silverleaf is leading the way with the highest psf sale prices and highest dollar sale price in Scottsdale. This period high sale was in Silverleaf at 10.5M . Selection of homes priced over 3 million is substantial. In my last market update - in late November there were 240 homes priced between 3 million and above. Today, there are 290 available. An increase of 18.8%. Inventory is key to pricing as availability will always effect sales prices.

Housing Inventory in Greater Phoenix including Scottsdale. 

For those of you who have been waiting for prices to drop since last year and for many, waiting several years. The market has been up and down. Only recently, am I seeing, based on real data, a softening (as shared with you) in the over 2 million dollar price range and more notably in homes priced over 3 million. I will keep you posted.  We shall see if this trend continues OR?

Housing Inventory Buyer Tip.

**My fixed note is always - When buying, let's be patient and purchase, " more exceptional properties - on *better lots"; those will always earn a higher sale price - relative to market and be more pleasurable to live in.

Phoenix Area Home Units Available.

 Housing Inventory in the Phoenix Metro area was 14,946 in March 2023,  on June 25th 2023 it was down to 12,179 days...on July 28th 2023 we were at just over 11,000 homes for sale. In very early September 2023 we were at 12,835. On November 26th 2023 we were at 16,500 homes on market. Today we are at 16,599 active listings - The current trend is slowing rising inventory. Note -  Rates continue to be a force to a degree in pricing.  To see today's rates to current market fluctuations. Check out -  TODAY'S Mortgage Rates

Paradise Valley Real Estate Snapshot   

Current number of Single Family Dwellings in Paradise Valley is 227 (includes homes that might be considered "tear downs") Current average "sold " price PSF of homes over 3 million in last 45 days is $882.25 For More details on the Paradise Valley luxury market see my sister site ParadiseValleyLuxuryHomeCollection.com *Updated every 55 days - Next Update by Jan 30th 2024.

Scottsdale - Paradise Valley Real Estate Market Statistics - by the Numbers

Read this monthly report for the latest - Homes Prices Scottsdale - Paradise Valley. The ARMLS (Realtor Data and Statistics site) numbers for November 2023 compared to previous months for all areas & types: These stats are available as the "Sold Homes" are recorded with Maricopa county. Accordingly, for up to minute stats on a neighborhood or 'available listings' in a specific neighborhood, Please call me. It is my pleasure to discuss any specific home pricing updates. Or to review any Paradise Valley or Scottsdale Community or home of interest.

HOME BUYING TIP FOR ARIZONA'S BEST HOMES. - In the west we say, "Don't bring a knife to a gun fight" - In other words; if you are vying for top "best' quality homes in a bidding war, a less than concerted, all out effort, will have an unlikely chance of success. However "if" the home is ' less than perfect , sharpen your pencil,  we can negotiate the home down. 

 

New Day New Housing Market updates


Sales Contract Statistics Available by Text

Scottsdale and Paradise Valley Home Prices and Stats

* Scottsdale Homes for Sale from $500,000 to $1,000,000 - Call or Text

* Scottsdale Home listings for Sale from $1001,000 to $2,000,000 - Text or Call

* Paradise Valley Homes For Sale between $2,500,000 and $7,500,000 - Call or Text

* Homes for Sale in Scottsdale listed range of $2,000,000 and $5,000,000 - Call or text

Phoenix Metro - Home Prices and Market Stats

  • Pending Listings Scottsdale: - Call me for up to minute
  • Active listings in greater Phoenix including Scottsdale and PV
  • Total area measure is over 515 Square Miles of the Phoenix MLS
  • Under Contract Listings (including Pending, CCBS & UCB): Call for up to minute
  • Monthly Sales: Are DOWN.  For a detailed report - Text me
  • Highest Price drops this Month - This fact is always interesting - Call
  • Monthly Median Home Sales Price:  Interesting number - Email or Call

Market Update Definitions and Resources

THE MARKET INDEX REPORT

Market Index -  Is a numeric value that provides a short term forecast for the balance of the market. It is derived from the trends in pending, active and sold listings compared with historical data over the previous four years. Values below 100 indicate a buyer's market, whereas values above 100 indicate a seller's market. Comparatively - A value of 100 indicates a balanced market. In fact, Today Jan 27th Scottsdale is at 132.7 in early June on the CMI. Comparatively, Paradise Valley has also just dropped a significantly from a CMI was 107, today Paradise Valley has a CMI of 98  In comparison, in May of 2022 Paradise Valley had a CMI of 453, an unheard of 'tip of the home scale" - favoring sellers. For additional perspective, Paradise Valley ran an average of 440 days of inventory in 2015. Currently Paradise Valley has 207 days of inventory (Homes Priced at 2m and up). Scottsdale currently has 107 days of housing inventory (Homes priced from 1m to 30m) down from 3.9 months in September.  *In June of 2022 Scottsdale had under 60 days of inventory. 

 

*** What does this month's Market Index Show today for other cities - Please call for details. This is Changing daily!

REPORT UPDATED FOR YOU EVERY MONTH -

Please call me for a more detailed analysis.  My pleasure to review them with you. In addition, I am here to provide you excellent representation and counsel when buying or selling a home.

Again please enjoy the graphs and market report. And please call me for additional information. Noting: Entire report updated at least every 55 days. In other words, bookmark this page.

Call Michael Chaisson Realtor - Multi Award Winning Realtor - Launch Realty Powered By Compass - Specializing in Luxury Homes in Scottsdale, Paradise Valley and the greater Phoenix area. 480-450-4632

National Home Pricing Forecast/Projections including Scottsdale  -

Below _ 

 

 

Dec. 2, 2023

2024 Designer Kitchens in Scottsdale and Cost

Enjoy these key notes on 2024 Designer Kitchens in Scottsdale and cost. Kitchen remodels add tremendous value for home buyers and sellers. PLUS - We have just added TOP 10 TEN KITCHENS for design inspiration in 2024 - Seen Below. 

First - The most effective way to increase the value of a home is #1. Cosmetic Improvements.  Kitchen remodels come in #2 "Value Adds" for a home . Whether you live in a home in Scottsdale's McDowell Mountain Ranch, Silverleaf or any of Scottsdale's beautiful neighborhoods. The number one and two reasons homeowners cite for remodeling a kitchen is, "improved comfort and visual appeal". So let's get to it, design, statistics and cost. 

According to the most recent Houzz Kitchen Trends Study; "The top kitchen remodeling priorities are, new counter-tops, back-splashes and sinks. Followed by cabinets and appliances". In almost all cases, homeowners are following the current (2024) Scottsdale trend of a bright, open and contemporary. Additionally, the most progressive home owners are adding the newest in remodeling 'enhancements', namely,  Realtor Resale Design Consultation -  RRDC . Definition below.  

Every year advances take place in every aspects of real estate. As homeowners look to improve, not only comfort but value to their home. The latest 2024 trend, for progressive buyers and sellers in kitchen and home remodeling is; Realtor Resale Design Consultation. This is the practice of taking a meeting with a talented luxury R.E group (i.e my team) to review finish selection and the design, to access the value added by selections. Thus allowing a cross check of trends and projections in buyers "wish list" and 'must haves".  This enhances finish selection in all cases. Without a single compromise to a homeowners desire for personalization. 

My first key strategic remodeling item of advice is;  Scottsdale is typically 3 to 5 years behind in design trends. Considering this, if you are interested in seeing what designs and finishes will be trending in Scottsdale and Paradise Valley in the future, look at the latest trends in Los Angeles, New York, Paris and the other trend setting luxury markets.  (Kitchen Design Images Featured on this Page are from 2024 New or Remodeled Kitchens. In homes priced at 7 Million Plus) 

Cost of Kitchen Renovation

The average kitchen renovation costs between a low of $25,000 and a average of $150,000. A small percentage of home owners spend more than $150,000. We explore more details, tips and cost breakdown below for, "price saving" AND "price busting" kitchens below.

Kitchen Backslash

It seems like a less significant detail but according to national statics; homeowners having homes in communities like Estancia - Scottsdale stated, "The number one reason for wanting to 'start' a kitchen remodel was the backsplash". In fact, 90 percent of a remodeling project involves wisely replacing this part of the kitchen decor.
In fact, it should be a mandatory replacement. 

kitchen remodel Scottsdale backsplash sample

Kitchen Countertops

Research data indicates, in partial remodels - replacing countertops is more important to homeowners than buying appliances. In fact, countertops are replaced in 95 percent of kitchen renovations compared to 15 percent purchasing appliances. After countertops and backsplashes, sinks come in third as the item being replaced, with 89% percent choosing to do the kitchen sink. Sinks and Faucets are now well beyond function, as they have become an important part of the design and beauty of the kitchen. Search a sampling of Designer Faucets for Kitchen Remodels here and compare price here.

When it comes to countertops, granite and quartz, are tied as the most popular choice with butcher block or wood a distant third. Marble countertops also show well in the luxury market however, due to "sealing" to prevent stains, it is very much a creative choice vs. practical. Quartzite is also an excellent choice for countertops especially in the finest luxury homes. However Quartzite is, typically price prohibitive for lower price point homes.  For resale - countertops are the number #1 most important visual component. Spend your money on the slab selection. However save on fabrication, the company charging the money for fabrication, simply has a different sales model. 

Contemporary vs. Traditional

More homeowners are choosing a contemporary vs. a traditional style when they remodel their kitchen. Research suggest, Millennials are choosing a modern and farmhouse look, while baby boomers prefer a more traditional style.

*Regardless of architectural style, all generations agree, the kitchen island is a value add.

White Cabinets VS. Wood Grain

White cabinets still remain popular in all remodels, followed by wood. The younger demographic still prefer white cabinets; Seventy four percent choose white. Noting: The most luxurious kitchen remodels and those preferring a more timeless, yet contemporary look, are adding wood, either as a primary element or a secondary element. 
Noting- Wood grain is an essential consideration in 2024.

Kitchen Lighting 

In terms of lighting, under cabinet lighting is essentially, a must have. Pendant lights are still popular but in today's market, the lighting options are phenomenal, so explore!  Kitchen lighting and accent lighting is one of the most over-looked value adds for visual pleasure and resale.   To help get you started, here is a link to start your search. Start Kitchen Lighting Search

Best Appliance Color for Kitchen Remodels

Stainless steel appliances are still holding their popularity. With new finishes being added to spice up the competition. With a smile, my team member said "I had to use the word "spice",  we are talking about kitchen remodels. Additional popular colors for 2024 include Black, Bronze, White (yes white) and the timeless, matching cabinet grain as a finish to the front of refrigerator. However for fun... check out some of these fun selections for retro and eye-catching.
For those exploring creative wood grain options click here. And even the oven selection gives homeowners a chance to create additional beauty in the kitchen. On the following link are some beautiful creative choices. Click Ovens Here

2024 Kitchen Remodeling Cost - Scottsdale

In the luxury market, most homeowners feel spending at least $150,000 to $300,000 is a requirement. This is purely a personal choice and allows for bragging rights at cocktail parties. However, regardless of what your contractor is, very nicely sharing with you... and the discounts, he/she say, they are passing on. A significant percentage of the cost of the kitchen remodel is going to the contractor. If saving money or donating potential savings to a local charity is of interest; shop online first. Pursue quotes directly from the manufacture and compare quality. Pursue competing bids, Also, feel free to reach out to me anytime. With over 20 years experience in Luxury Home Sales, I am happy to share insight on the best Scottsdale contractors, designers and vendors. Special Note - If remodeling a 3 plus million dollar home in Scottsdale or Paradise Valley - consider expanding your search for designers - to national and international talent.

Scottsdale Kitchen Remodeling Cost Exceptions

Pricing exceptions are an absolute in the Finest Luxury Homes. Less than 1% of the homes in Scottsdale or Paradise Valley have kitchens exceeding the justifiable cost of $350,000. Many of the New Construction Homes are installing 
cabinets from local manufacture Solid; these are very nice cabinets. However a substantial size kitchen with Solid's nicest cabinets is still well under $50,000. Beautiful Italian, Scandinavian, German cabinets are also available well below $100,000.
So when does a kitchen remodel or new kitchen cost close to 1 million. Please see Top 10 2024 Kitchen Designs below and guess, which kitchen was in the 1 million dollar price range. 

Top Ten Kitchen Designs for 2024 - Can You Guess the Cost?

Not in Order - Simply pick a favorite or elements of a few, to create your own beautiful kitchen. 

Kitchen 1 - 

Top Kitchen Designs and Cost 1

Kitchen 2

Top ten Kitchen design - Remodel Scottsdale

Kitchen 3 

Scottsdale Kitchen Remodel Ideas

Kitchen 4 

Cost of Scottsdale Kitchen and 2024 Designs

Kitchen 5

Kitchen 6

Top 2024 Kitchen Designs Scottsdale

Kitchen 7

Gorgeous One Million Dollar Kitchen

Kitchen 8

Soft and Elegant Kitchen Remodel Scottsdale

Kitchen 9

Light and Bright Designer Kitchen Remodel

Kitchen 10 

Beauty is not in the size but thoughtful design

I have you have enjoyed this brief bit of data and guessed which kitchen was the One Million Dollar Kitchen.

Please remember before any remodeling. I always suggest calling an experienced Scottsdale - Paradise Valley Realtor to review ideas with you. It will be a value to you and your beautiful home.  All my best.

Hiring the Right Scottsdale Real Estate Professional

My goal is to be of service to you. I say it often but it cannot be said enough, " in real estate, there is a difference in Real estate professionals" For more tips on a 'best home buy" Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale, Paradise Valley and Arcadia Arizona

Michael Chaisson - Realtor
Launch Realty - Luxury - Powered by Compass
Premier Client Services
Ranked Top 1% Nationally
Circle of 26 Excellence Award Recipient
480-450-4632

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab)and recommendations for the best restaurants and service providers in the community. I also encourage your recommendations.

 

 

 

 

Nov. 20, 2023

The Best time to Sell a Scottsdale Home

 

Best time to sell in scottsdale sample

Home Selling Thinking Has Changed on Holiday/Summer Selling

The thinking used to be that,  that only, the less informed sellers would list a property around popular holidays such as the Fourth of July, Christmas, Religious holidays, Thanksgiving, and New Year’s Day. August was also considered a less desirable month to sell a home in Scottsdale. This summer selling consideration was based on, "less winter buyers in Scottsdale".  

However, those strategy models have adjusted, due to the housing demand, digital marketing and the masses of information available online. So myself and other informed luxury home specialist suggest, "Plan a date to list, that is ideally best for you". The primary consideration being #1. Accommodate showings and #2. Having time to address contract negotiations. 

Consider these positive points; Some sellers have had success around the holidays since there is less competition. A lot of "snowbirds" are in Scottsdale looking for a second home or an investment property. This is especially true as family members and friends interested in buying a home in Scottsdale use the holidays as an opportunity to visit.

In regards to summer months, August is typically a time of year when housing supply is low, especially in communities like Silverleaf where old selling models prevail. Noting: August is back-to-school time.  For many families shopping in June and July in time to get settled for school is essential. Recapping, increased demand in a city of over 5 million people, the internet, social media and year around marketing of homes has changed the real estate dynamics to make
anytime the market is good, a great time to sell.

As a home buyer, Summer and Holidays are a GREAT time to make an offer because home sellers feel the market is soft, during the summer and holidays. Both sellers and buyers benefit by being informed on the realities of the 
the best time to sell a Scottsdale or buy one. 

What about sellers in Scottsdale and Phoenix?

At the same time, home sellers in Scottsdale-Phoenix used to think if they put their house on the market during a popular time like February, it would sell faster and they’d get more money. Data shows this isn’t the case.  If your home is overpriced, it will sell fast not going to sell fast ... or at all, regardless of the time of year you put it on the market. If you are considering listing your Scottsdale home for sale. Remember one key FACT. Home buyers need homes year around. Housing is a fundamental as eating. I have been shocked at seeing a home in Paradise Valley taken off the market by one homeowner, only to have the neighbor, with a very similar home sell theirs while the other was off the market! Yes!  .. as Realtor I have seen it often , it is the funniest thing... not haha funny ...but, "what were they thinking" odd/funny. 

Homes in Silverleaf, McCormick Ranch, Estancia, Troon, you name the community and homes sell year round. In the end, it comes down to what works best for you?  Maybe you want to be in another house before the school year starts or your employer is transferring you to another city. Whatever your goal, with great marketing, great home preparation guided by an experienced agent like myself, you will earn top market value for your home in the Scottsdale area all year round.

Hiring the Right Scottsdale Realtor

My goal is to be of service to you. I say it often but it cannot be said enough, " in real estate, there is a difference in Real estate professionals" For more tips on a 'best home buy" Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale , Arcadia and Paradise Valley Arizona

Michael Chaisson - Realtor
Launch Realty - Luxury -Powered By Compass
Premier Client Services
Ranked Top 1% Nationally
Circle of 26 Excellence Award Recipient
480-450-4632

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab)and recommendations for the best restaurants and service providers in the community. I also encourage your recommendations.

 

  

Nov. 12, 2023

History of Arcadia Arizona

 

Bordering Scottsdale Arizona there is a truly remarkable neighborhood called “Arcadia”. Known for its lush landscaping, picturesque homes and famous residents. City boundaries first, The Arcadia neighborhood is bounded by 40th street to the west, 68th to the east, Indian School to the south, and Camelback Road to the north. Please note areas bordering Arcadia (proper) have been becoming incredibly popular in the last few years.

Arcadia is known for it's “Community and Kid Friendly Lifestyle” Kids are seen riding their bikes thru the street; guys and gals from 18 to 80 will play football on neighboring lawns. Everyone waves “ hi”.  If you’re out for a walk in the neighborhood on a Sunday, don’t be surprised if you’re invited in for barbecue and end up making new best friends. It’s a wonderful lifestyle Norman Rockwell captured so iconically in his art.  The per square foot home prices for living the dream in Arcadia recently past Paradise Valley... and demand is still HIGH.  The homes in Arcadia boast high property values with lots ranging in size from 6000 square feet to 5 acres. Arcadia sits adjacent to several similar upscale communities like those of the Biltmore, Paradise Valley, Phoenix and Scottsdale.

About Arcadia Arizona and it's History

Arcadia has an interesting history, The neighborhood took its name from the ancient Greek city of "Arcadia", reputed to be a place of uncommon peace and quiet. In June 1915, the first tract of land platted in this area was recorded: It was called "Citrus Homes", as the neighborhood was originally developed as small citrus orchards.

(Above Arcadia Az in 1950ty's)

The original Arcadia community was first recorded four years later; the large sized lots were aimed to attract wealthy homeowners. (Anyone wanting to build a house had to satisfy a minimum cost of development and the requirement that the house’s exterior design fit the existing neighborhood’s aesthetic norms.) By the mid-1960s, most of the citrus farms were turned into estates. Today many orange trees still line the streets and yards of the homes in Arcadia. Today, Arcadia is one of the most desired addresses in the entire Phoenix area. Homes in Arcadia come in a wide variety of architectural styles including many custom-built homes (new construction has been way up)  charming estate homes including, ranch, contemporary farmhouse, modern contemporary along with many other options. Generally, the best homes for sale in Arcadia sell quickly. The prices of homes for sale in Arcadia vary depending upon a number of factors including the property’s age, size, style, special features and location; primary among these is location and style; Contemporary farmhouse is by far the most popular style for the Neighborhood. Then, everyone wants to be on the best streets. Homes for sale on Exeter and Dromedary tend to sell quickly. Homes in Arcadia start around $1,200,000 and can reach upwards of $10 million. Arcadia was named  “Best Place to Live” by Money magazine. With large yards, many homes with pools, biking paths along the Arizona Canal, sports courts and award winning schools, Students in Arcadia are served by the award-winning Scottsdale Unified School District,  most notably Hopi Elementary, Ingleside Middle School and Arcadia High. In addition to all of those wonderful features, Arcadia also has an ideal location in close proximity to hiking, excellent shopping, and exquisite dining at the Biltmore Fashion Park and Scottsdale Fashion Square. Old Town Scottsdale and Downtown Phoenix are also just minutes away giving Arcadia residents easy access to a thriving night-life and highly-rated restaurants. The Phoenix Sky Harbor International Airport is about 15 minutes away which is also a great convenience for Arcadia residents. So, if you desire to live in an upscale community with a small-town ambiance and easy access to big-city amenities, consider the homes for sale in Arcadia.

Arcadia Arizona Versus Paradise Valley Homes For Sale

I am often asked, what is the primary difference between Arcadia and Paradise Valley by home buyers looking for homes between 1.5 and 5.5 million. Following are a few primary differences #1. Arcadia as pretty as it is, has very visible power lines, even in the views of homes over 3 million. In contrast, Paradise Valley has buried it's power poles/lines.
#2. Arcadia's lots sizes vary; one acre lots are rare. Paradise Valley homes are almost all on one acre or larger lots.
Arcadia has a younger demographic than Paradise Valley and is closer to metro Phoenix whereas Paradise Valley has a larger border with prettier City of Scottsdale.

If you have questions regarding homes for sale in Arcadia, Arizona or would like more information regarding other real estate options in the Scottsdale, Paradise Valley area, please do not hesitate to call, my cell at 480-450-4632.

Oct. 17, 2023

Real Estate Questions – Ask the Realtor

Questions –  Ask the Realtor

Thank you for visiting the Real Estate QUESTION page. Please feel free to ask ANY Residential Real Estate question, related to Pricing Trends, Home sales, Market activity, Home selling tips, Buying tips, Negotiating practices, Upcoming listings, Exclusive off market listings. And of course, VIP search services, a custom search for buyers looking for the very best in Realtor Services.

Please fill in the form below to send me your questions, suggestions or receive more valuable information on VIP search services.

Posted in Home Buying Tips
Oct. 2, 2023

2024 Selling Your Home in Scottsdale

If you have been interested in selling your home in North Scottsdale, Scottsdale or Phoenix, 2024 is a great year to achieve a top dollar sale.

Demand for luxury homes in Scottsdale is still very, very high. My extensive research and national forecast indicate;  inventory and home sales prices will continue to increase over next 12 months. However more modestly than in 2021, 2022 and early 2023. 

scottsdale home selling a home in 2024

Here are some facts to consider - if you’re planning to sell in 2024. 

What is the expected time before a luxury home will sell in Scottsdale ?

The average days on the market for late 2023 and projected 2024 sales in Scottsdale. #1. Homes between 1 million and 1.5 million is 50 Days. #2. Home between 2 million and 3 million being an average of 65 days on market before selling. #3. Luxury homes priced between 4 million and 50,000,000 in for example North Scottsdale, Silverleaf - Troon - Estancia are still selling in under 60 days. #4. Homes in Scottsdale and Paradise Valley over 8 million are taking on average of between 3 and 6 months to close sale. Still lightening fast compared to pre 2021 sales.

Price it right

Since inventory is low and demand high, set your listing number high to achieve a top sale price... yet within Market range.  I will provide an accurate number to obtain a top sales price for you home.

Start with a review to optimize Value. 

As a Luxury Realtor, I am in the top .005% of Realtors who do a pre-market value optimization of every home I list. By the time my listings see day 1 on the market, they will sell for approximately 10% more, than prior to the value optimization and subsequent preparation and marketing.

Steps to sell your home for top dollar.

When putting up your home in North Scottsdale - Scottsdale - Phoenix -Paradise Valley for sale  My experience and talent as a luxury specialist enables us to review selling discussion points in order to make your home more marketable and earn top dollar at sale. PLEASE NOTE, I use the words EXPERIENCED TALENTED.. those are not words added for flavor. They are truly a descriptive for the best Realtors..NOT every Realtor is 'talented " just like, every good golfer is not a tournament winner.

My goal is to be of service to you. I say it often but it cannot be said enough, "in real estate, there is a DIFFERENCE in Real estate professionals.” For more information,  Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale, Arcadia and Paradise Valley Arizona

Michael Chaisson - Realtor

Launch Realty

Premier Client Services

Ranked Top 1% Nationally

Circle of 26 Excellence Award Recipient

480-450-4632

 

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab) and recommendations for the best restaurants and service providers in the community. I also encourage your recommendations.

 

Oct. 2, 2023

Home Technology Trends for Scottsdale 2024

Every year, the Consumer Electronics Show (CES) never disappoints. Just when you think home technology has reached a peak, new developments are introduced. Further enhancing the enjoyment of luxury home living in Scottsdale 

Whether you’re looking to buy or sell a Scottsdale home in Silverleaf, Terravita, Desert Ridge, Grayhawk or central Scottsdale you’ll definitely want to keep up with the latest home tech products . Such as higher-resolution TVs, high tech lighting, showers and even refrigerators with built-in tablets.  Of course, upgrades are always being made in home security systems, smart thermostats, finger print enabled locks, and even brighter more efficient light-bulbs. 

Here’s what to expect in 2024 home technology.

Living room

Watching TV from the comforts of your Scottsdale home in Silverleaf, Desert Mountain or Estancia, the media experience is only going to be more enjoyable. See the latest in TV technology at - Research  

Kitchen

All new homes with designer kitchens will have smart technology. From appliances to kitchen apps with plenty of new gadgets to keep you occupied while you’re cooking. To view some of the latest, enjoy this research link. 

Bedroom

Technology is even coming into the bedroom with mattresses getting smarter. For the little ones, there’s “the world’s first smart crib” and other high-tech baby monitors and gadgets. To learn more about some of the technology for the bedroom see research link here.

Bathroom

When it comes to the bathroom in the home, we've come a long way since the bathroom was moved from outside the home into.  Take a look at some of the newest in bathroom design and technology at research bathroom design. 

Garage & beyond

Self-driving cars have increasingly been featured in the news this last year. Expect to see more of those on showroom floors.  I am personally looking forward to the day, I can send my car to Aj's Fine Foods, have my groceries loaded in and delivered back to my house.  To view some of the most beautiful residential garages in the world view this impressive link. 

Value in Smart Home Technology

Installing smart technology in homes in North Scottsdale, Paradise Valley, Troon, Desert Highlands, DC Ranch, Central Scottsdale is the latest trend for the luxury home owner. It could also add value to your home IF you plan on selling in next 2 to 3 years, especially with the latest generation of home-buyers referred to as millennial's. However, high tech gadgets today will be the vintage items of tomorrow, so weigh cost and benefit for you personally rather than long term return. Which will be zero to minimal if the technology is five or more years old, when you decide to sell.

My goal is to be of service to you. I say it often but it cannot be said enough, "In real estate, there is a DIFFERENCE in Real estate professionals.” For more tips on a 'best home buy" Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale, Arcadia and Paradise Valley Arizona

Michael Chaisson - Realtor

Launch Realty - Luxury - Powered by Compass

Premier Client Services

Ranked Top 1% Nationally

Circle of 26 Excellence Award Recipient

480-450-4632

 

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab) and recommendations for the best restaurants and service providers in the community. I also encourage your recommendations.

Posted in Home Buying Tips
Sept. 5, 2023

Best Rates, Best Home Loans for Scottsdale

Mortgage rates are currently, hovering between seven and eight percent. Rates at this level make finding the best loan rates of paramount importance to home buyers. Especially important to Scottsdale home buyers, who are seeing not only higher rates but also increasing home prices. So if you’re looking to buy a home for sale in Scottsdale using a bank loan, you’ll want to take action in these key areas #1. Maintaining or increasing your credit score. #2. Shopping around for a loan. #3. Choosing your Scottsdale home or Paradise Valley Home very wisely, and #4. Carefully or should I say "aggressively negotiating the price when possible". 

 

Strengthen your credit score

 

For non-cash home buyers having a good credit score is essential when making an offer on houses for sale in Scottsdale. A significant number of home buyers are not aware of their credit score until they start searching for a home. The house hunting process may take an extended time so use this valuable time to strengthen your credit score. Higher credit scores usually equate to lower interest rates i.e preferred rates.

How critical is your credit score? Consider this, a credit score 20 points higher can lower your rate by a quarter percent.  This credit tip is also valuable for 'luxury' Scottsdale and Paradise Valley home buyers utilizing a home loan. Regardless of your high score unless you are one of those rare individuals with an over 800 credit score, a higher score equals substantial monthly savings. 

When you are a looking for a luxury home in Paradise Valley or Scottsdale with a credit score over 800 you will naturally be offered the lowest possible rate from most lending institutions.  For a list of lenders, offering the lowest loan rates please feel free to contact me.

The Value of Loan Pre - Approval

Getting pre-approved for a mortgage also benefits the luxury home buyer in three substantial ways #1. The best homes, the ones my clients typically pursue usually have competition. Having a pre-approval, that includes a pre-approval from underwriting allows for very quick closings. Thus allowing a buyer utilizing a loan product to favorably compete with a cash buyer.  #2. Less Stress.. having a pre approval through underwriting is like, being completely pre-packed for a long vacation versus having two hours to pack. Noting- A pre- approval vesus a pre-approval through underwriting are two distinct levels of "pre-approval" 

Keep in mind, getting a pre-approval doesn’t guarantee a loan closing. Until you sign all of the paperwork and you have the keys in your hand, the factors that led to the mortgage approval can always change. For example, a loan can get denied at the last minute, if new debt is added. For example, buying a new Range Rover to park at your new home 5 days prior to closing, could very possibly affect the loan.  Or if there’s any other blemish on your credit report that shows up after the initial loan was approved. Again even the most prominent individuals are affected, banks only consider numbers including debt to income ratio. So whether you are buying a conservative $700,000 home in Scottsdale or a 5 million dollar home in Paradise Valley, credit, debt to income ratios are of significant importance. 

Shop around For Best Loan Rates 

Not every lender offers the same loan rate. So, shopping around is important before offering on a home for sale in Scottsdale, Phoenix or Paradise Valley. Interestingly, the Consumer Financial Protection Bureau says "shopping loans" is  something most consumers do not do. In fact, nearly half of home buyers who apply for a mortgage haven’t shopped around for competing loan rates. It could end up saving you hundreds of dollars each month on your mortgage payment. Luxury home buyers may also have access to preferred programs saving even more money.

While you’re shopping for the best rate, also review the fees mortgage lenders charge. It’s important to have the lender send a "good faith estimate" in writing. 

Choose Your Home Carefully

The light inventory in homes for sale in Scottsdale will likely continue into 2025. A low housing supply means that you might need to look longer to find your dream home.  You will never need to settle, though, As an experienced, multi award winning Realtor, I always recommend persistence and patience to find the best home in Scottsdale, Paradise Valley or Phoenix. Never settle, the long term investment is directly tied to the good, better or best home purchase.

Negotiate!

You’ve heard of location, location, location when it comes to Scottsdale real estate. When it comes to home buying, the saying goes negotiate, negotiate, and negotiate. Some of the list prices on houses for sale in Scottsdale and Paradise Valley are now 10% to 15% above actual market value. Every price is negotiable if you have an real estate agent not willing to push for aggressive numbers for you, reconsidering the relationship may be in order.  The best Scottsdale Realtor will save you THOUSANDS on a home purchase, as I do for everyone of my clients.

Going into 2024 -2025 Check this site for latest market shifts, trends and pricing reports. 

 

My goal is to be of service to you. I say it often but it cannot be said enough, "In Real Estate, there is a DIFFERENCE in Real estate professionals.” For more tips on a 'best home buy" Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale, Arcadia and Paradise Valley Arizona

Michael Chaisson - Realtor

Launch Realty -Powered by Compass

Premier Client Services

Ranked Top 1% Nationally

Circle of 26 Excellence Award Recipient

480-450-4632

 

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab) and recommendations for the best restaurants and service providers in the community. I also encourage your recommendations.

Posted in Home Buying Tips
Sept. 1, 2023

How to Rent your Scottsdale as a Vacation Rental

Renting your Phoenix - Scottsdale Vacation Home for Profit.

There is a tremendous amount of untapped income potential available to those who own a second home in the Scottsdale or Paradise Valley area. The fact is, owning a second home in one of the most sought-after winter locations in the world can be profitable. If you buy right and have the right skills or secure a good management company. You can cover all your yearly expenses AND make a profit. And up until about 2020 you could actually earn a substantial income from the second home purchased in Scottsdale, Paradise Valley or Phoenix.

More on the changing market below, but first, let's look at buying right and a potential income breakdown.

Turning your Second Home into an Income Producer.

First let's look at the past . In 2017,A client of mine in Paradise Valley was considering selling his Paradise Valley home. After we met and discussed all the financial options, the option, that was a clear winner, was renting the home as a Airbnb / VRBO Vacation rental.

The math in brief, worked as follows;

Mortgage $5,000.00 per month

Expenses and Taxes $2,000.00 per month

Gross income before management fees. $200,000.00+

Income - AFTER expenses.  $116,000.00

Income AFTER management fees $83,000 per year –

Net Earning-  $7,250.00 per month.

There were other incentives for this client to rent the property, some of those included Tax saving -write offs and depreciation savings, which increased his net earnings. 

The Key to Renting your home as an Airbnb/Vacation Rental for Profit 

Not all vacation homes that ‘rent for profit” will earn the same amount of income, however if you approach the purchase of a second home with a goal of, being able to rent the property. The income should offset all reasonable expenses and generate a worthwhile return. The goal when buying ANY second home,' to be used as a vacation rental" is start with the 5 basics.  

#1 Invest in the right location.

#2 Make sure you invest in the right location, yes I repeated myself.

#3 Make sure the floor-plan works for you and will be attractive to potential renters. Call me to discuss.

#4 Buy right- With so many over-priced home listings for sale in Phoenix and Scottsdale.  Be mindful of purchase price. Call me to discuss.

#5. Buy where it is allowed. Check ALL HOA -  and ALL city regulations

Renting your second home can be a great way to make extra money or simply minimize expenses. Another benefit to this is; If you like to play "host", here is your chance to put out the welcome mat to visitors from all over the world; without putting out a lot effort.  

Using my second home as a Vacation rental – Whose renting?

Typically, guests paying anywhere from $1,200.00 per week for a modest priced home to $10,000 a week for a luxury home are not usually the type to take the flatware.  My clients have played host to the top CEO’s, to most recognized athletes in the world. Besides the income, hosting can sincerely be a pleasure.

The Changing AIRBNB and VRBO Rental Market 

This is a note to all those who have heard, "how much extra money can be made from "vacation rentals".  Following is a a little bit of bad news... In the last three years the ability to earn substantial profits from renting a home out on Airbnb or VRBO rental has GREATLY diminished.  

WHY has the Market for Vacation Rentals Changed?

Books have been written on How To Get Rich on Vacation rentals ... and apparently, a few of these books must have been best sellers because now, There are soooooooo many Airbnb's and VRBO's; there is an OVER- supply and we all know what happens when anything is in "over -supply",  prices drop ! Want to learn about the specifics, stats and numbers? Please call. I am a horrible typist but can educate verbally for hours on any real estate topic.

How Can You Compete in an Ever Changing, Niche Rental Market

There are many, many tricks to beating the competition in the ever changing Airbnb and VRBO rental market.
Two primary tools to beat the competition, both tips are articles in themselves. To Learn more about these tools and
their extensive sub-categories, my number is below. I look forward to assisting you.  

Learning More

I have a substantial amount of information on finding and buying not just a beautiful home for you in Phoenix- Scottsdale or Paradise Valley but … if interested, I can also help you turn the home you use three months or three weeks of the year into a pleasure to own the rest of the year.  Please call me for more details on making and saving money on your dream home purchase. Whether you are spending $400,000 or $10,000,000 . There are great homes for sale in Scottsdale, Phoenix, Gilbert, Chandler, Scottsdale, Paradise Valley and Arcadia AZ.

 

Look forward to hearing from you soon. I hope to have the honor of serving you.

Scottsdale - Phoenix- Paradise Valley Real Estate Agent

Specializing in Scottsdale, Arcadia and Paradise Valley, Arizona

Michael Chaisson - Realtor
Launch Realty - Luxury - Powered by Compass
Premier Client Services
Ranked Top 1% Nationally
Circle of 26 Excellence Award Recipient
480-450-4632

 

Posted in Home Buying Tips
Sept. 1, 2023

Best time to buy a Home - Phoenix - Scottsdale

best time to buy a home Scottsdale Phoenix

 

Best Time to buy a Home - The "Pro" Position of Higher Rates

With the rise in interest rates and market conditions, you might be asking yourself,  if this is the right time to buy a home? Let's consider some of the pro and con factors you may be weighing.  #1. Housing Inventory is up, meaning selection is reasonable.  #2. Interest rates have gone up from 3.50% percent to over 7% percent. This is both a negative and a positive.  On the positive side#1. Prior to the interest rate increases, bidding wars were common, which made getting a "dream home" a competition and not a certainty. Positive #2.  If you are paying cash, the higher rates have slowed price increases and currently allow for more aggressive negotiation. Positive #3. During any real estate market frenzy, finding fair prices on contractors, to do remodeling or any home upgrade is near impossible. Since the interest rates increases - remodeling cost, painting cost, plumbing and electrical upgrades have all come down an estimated 30%.

Best time to Buy a Home - Phoenix - Scottsdale The 'Con' Position of Higher Interest Rates

On the "con" side of higher interest rates, IF financing, you are will be paying over a 100% more per month, than you would have last year, for the same home. In spite of the fact, home prices have only risen marginally since this series of rate increases. I know you are thinking, "why have home prices not gone down?". The small silver lining to this is; if you need the tax write off, the higher interest rate, allows this opportunity. Please -Don't hate me for mentioning it. 

Timing the Market - Factors Affecting Lending Rates and Home Pricing

Many factors go into the Federal Reserve’s decision to raise or lower rates. One reason why the board had kept interest rates low, was due to the strength in buying of US mortgage-backed securities. This has been going on since 2009.  Confidence in the US economy as a safe haven for investors, had been keeping mortgage backed securities popular and interest rates low. New Factors, including inflation have modified that approach. This of course will weigh on when you consider is, the best time to buy a home - Phoenix or Scottsdale.

The federal fund rate - This is the rate, banks loan to each other at. While the federal fund rate has little to do with rising mortgage rates, it does impact the overall economy and thus interest rates. 

Other factors that could impact mortgage rates could be a huge shift in the economic policy in the U.S; a terrorist attack or some other international event. International markets beyond our home, can have a significant impact on our US lending rates. Both are unpredictable.

When it comes to home prices, the median price of a home went up, between 2.6% and 13% in the last year. Expect prices in 2024 and for the foreseeable future to be fluid. Sorry no crystal ball. Those that claim to have one, may also have some swamp land to sell. 

Besides interest rates, there are other factors that can have more of an impact on how much your mortgage payment is each month. See factors effecting home buyers below.

Credit Score

The better your credit score, the better your interest rate. When looking at home listings in Scottsdale, you need a credit score of 740 or above in order to get the best rate from most lenders. Consider all lending products when considering buying. Shop.

Down payment

By making at least a 20 percent down payment, you’ll save on PMI or private mortgage insurance. That adds up to $70 to your mortgage payment for every $100,000 borrowed, according to Freddie Mac. Making a more substantial down payment, that will lower your payment even more since you will have a lower principle balance and stronger equity position in the home. 

Buying Points - When considering, Best Time to Buy a Home -Phoenix - Scottsdale. 

While we don’t have any control over what The Fed does, when it comes to interest rates, you can always pay' points' to get a lower rate.

Closing costs

Closing costs vary with lenders and closing agents. It’s best to shop around. Many fees are negotiable and can vary significantly. For more on Buying a home in Scottsdale or anywhere in the greater Phoenix area, see below.

My goal is to be of service to you. I say it often but it cannot be said enough, " in real estate, there is a difference in Real estate professionals" For more tips on a 'best home buy" Please call me now at 480-450-4632.

Realtor -Specializing in Scottsdale , Arcadia and Paradise Valley Arizona

Michael Chaisson - Realtor
Launch Realty - Luxury- Powered By Compass
Premier Client Services
Ranked Top 1% Nationally
Circle of 26 Excellence Award Recipient
480-450-4632

Please feel free to browse this site for information on activities in Scottsdale, Arcadia and Paradise Valley (see resources Tab)and recommendations for the best restaurants, best time to buy a home - Phoenix - Scottsdale and service providers in the community. I also encourage your recommendations.

 

 

 

  

Posted in Home Buying Tips