Archive for August, 2007

Scottsdale Ranch Update – September 2007

 Scottsdale Ranch – September 2007

www.theholmgroupaz.com  

  • Currently there are over 57,000+ homes available through the AZ MLS
  • Average Days on Market for a home in Scottsdale Ranch is roughly 113 days
  • Scottsdale Ranch has a total of 50 homes on the market through the MLS with average  price per square foot of $302 (not including for sale by owner)
  • Average price per for a home being sold is $962k
  • Average  home size being sold is 2690 sqft
  • Price ranges of homes on the market ($514k to over $2 million)
  • 4 homes in Scottsdale Ranch Sold in August 2007
  • 8 homes went into pending status in August

  Recent Sales in Scottsdale Ranch 

·         11174 E Sorrel LN 3900 sqft (Listed for $955k and Sold for $995k)

·         10492 E Mission Ln 2174 sqft (Listed for $629k and Sold for $615k)

·         9829 E Cochise Dr 3040 sqft (Listed for $799k and Sold for $745k)

·         10294 E Gold Dust Ave 3046 sqft (Listed for $1,200k and Sold for $1,050k)

·         10157 E Bayview Dr 2500 sqft (Listed $1,550k and Sold for $1,440k)  

Just a few reasons to work with The Holm Group 

  • I live in the community and care about what value you receive for your home
  • I have a number of top ranking websites that focus on driving traffic specifically to buyers that are looking to move into your community. (www.theholmgroupaz.com)
  • I sold 40% of my own listings in 2005 by representing both the buyer and seller
  • Six of the homes I sold in 05-06 were sold exclusively without ever going onto the MLS.  In turn, saving my clients ten of thousands of dollars 
  • If you are looking at doing any remodeling give me a call as I have established relationships with several area contractors that can help you on virtually any project

   Representing Buyers and Sellers throughout Scottsdale Ranch…

  Andrew Holm, ABR Sterling Fine Homes & Land

The Holm Group Office: 480-767-2738  Cell: 480-206-4265

Email: Andrew@theholmgroupaz.com

Desert Ridge Update – September 2007

  Desert Ridge – Market Update September 2007

www.theholmgroupaz.com 

  • Currently there are over 57,000+ homes available through the AZ MLS
  • Desert Ridge has a total of 117 single family homes on the market through the MLS.   Average days on market are 119 and average price per square foot of $235 (not including for sale by owner)
  • Cheapest house available in Desert Ridge is priced at $299,900
  • Most expensive house on the market is priced at $1,999,000
  • Average price for a home currently on the market is $650k
  • Average price for a home in pending status is $549
  • Average price for a home being sold is $564k
  • Pending sales are currently priced at $228 a sqft (these have yet to record)
  • Desert Ridge had a total of 22 sales close in the month of August and 11 homes go pending

  Recent Sales in Desert Ridge  

·         4719 E Weaver Rd 1962 sqft (Listed for $405k and Sold for $395k)

·         4505 E Kirkland Rd 2432 sqft (Listed for $644k and Sold for $600k)

·         4056 E Williams Dr 3230 sqft (Listed for $650k and Sold for $625k)

·         4614 E Hamblin Dr 3250 sqft (Listed for $695k and Sold for $675k)

·         4415 E Kirkland Rd 3864 sqft (Listed for $784k and Sold for $740k)

·         22053 N 55th St 3502 sqft (Listed for $829k and Sold for $820k)  

Just a few reasons to work with The Holm Group 

  • I have a number of top ranking websites that focus on driving traffic specifically to buyers that are looking to move into the Desert Ridge area.
  • I sold 40% of my own listings in 2005 by representing both the buyer and seller
  • If you are looking at doing any remodeling give me a call as I have established relationships with several area contractors that can help you on virtually any project
    • I have had several clients that have used my contractors and I can send you detailed photos of the work they have had done. 

  Representing Buyers and Sellers throughout Desert Ridge.   

Andrew Holm, ABR Sterling Fine Homes & Land

The Holm Group LLC Office: 480-767-2738  Cell: 480-206-4265

Email: Andrew@theholmgroupaz.com

Kierland Update – September 2007

Kierland – Market Update September 2007

www.kierlandagent.com  

  • Currently there are over 57,000+ homes available through the AZ MLS
  • Kierland has a total of 7 UDC homes, 10 town homes, and 4 Lofts on the market through the MLS.   Average days on market are 160 and average price per square foot of $357.25 (not including for sale by owner)
  • The largest house in Kierland according to recent MLS data is 3630 sqft
  • Average price for a UDC home being sold Kierland is $701k
  • Pending sales are currently priced at $262 a sqft (these have yet to record)
  • Only 1 home sold in the month of August – 1 loft went pending
  • Highest sale to ever record for a Kierland UDC home is now $900k

  Recent Sales

 ·         6601 E Spring 3424 sqft (Listed for $735k and Sold for $724k)

·         15221 N Clubgate #1031 1364 sqft (Listed for $409k and sold for $399k)

·         15221 N Clubgate #1001 1364 sqft (Listed for $410k and Sold for $399k)

·         6781 E Gelding Dr 2050 sqft (Listed for $599k and Sold for $570k)

·         6438 E Claire Dr 2364 sqft (Listed for $625k and sold for $599k)

·         6419 E Betty Elyse Ln 2769 sqft (Listed for $709k and Sold for $670k)

·         6435 E Montreal Pl 2883 sqft (Listed for $849k and Sold for $835k)  

Just a few reasons to work with The Holm Group 

  • No single agent represented more buyers/sellers in Kierland than I did in 2004-2006!!
  • I have a number of top ranking websites that focus on driving traffic specifically to buyers that are looking to move into the Kierland area. (www.kierlandagent.com and www.kierlandrealtor.com)
  • I sold 40% of my own listings in 2005 by representing both the buyer and seller
  • Six of the homes I sold in Kierland in 05-06 were sold exclusively without ever going onto the MLS.  In turn, saving my clients tens of thousands of dollars 
  • Speak to present and past Kierland home owners for references
  • If you are looking at doing any remodeling give me a call as I have established relationships with several area contractors that can help you on virtually any project
    • I have had several clients in Kierland that have used my contractors and can send you detailed photos of the work they have had done. 

  Representing more Buyers and Sellers in Kierland than any other agent in 2004-2006.

Andrew Holm, ABR Sterling Fine Homes & Land

The Holm Group LLC Office: 480-767-2738  Cell: 480-206-4265

Email: Andrew@theholmgroupaz.com

AZ Republic – $40 millino office, retail center unveiled

Peter Corbett
The Arizona Republic
Aug. 30, 2007 03:46 PM 
 

SCOTTSDALE – Developers of a recently acquired state land parcel southeast of 100th Street and Frank Lloyd Wright Boulevard have unveiled plans for their $40 million neighborhood shopping center. Saxa, formerly Shea Commercial, has submitted a preliminary application with Scottsdale to build about 100,000 square feet of space on 11 acres, split between offices and retail. That will include one- and two-story buildings of up to 26 feet, said Pete Meyer, a Saxa principal.

Restaurants, with outdoor dining, and several shops will be built facing the intersection just east of Circle K.  We want to have a fountain and a garden setting for the restaurant patios, with trellises and stacked stone walls,” Meyer said.Saxa won state land at auction Saxa, which paid $10 million for the state trust land at a June auction, hopes to start building in the second quarter of next year and complete the unnamed project by the end of the 2008. The land, surrounded on two sides by homes, is one of the last large parcels along Frank Lloyd Wright Boulevard.Parking will be on the interior of the project with the buildings stretching along Frank Lloyd Wright Boulevard and the southern edge of the property.

Bank locating on acre at center Saxa plans to sell one acre of the site for bank. About eight to 10 retail spaces, including up to four restaurants are likely as Saxa begins trying to sign tenants, Meyer said. Saxa is not yet sure whether it will lease or sell the office condominiums, he said.

The company has been a leader in building office condos in the Valley and nine other states.

Saxa’s previous projects include Ironwood Square at 96th Street and Shea Boulevard, the Pima Commerce Center at Loop 101 and Raintree Drive, and Desert Fairways at Bell Road and Loop 101.

Mark Ortega, president of the nearby Aviara community homeowners association, said Saxa has presented a good plan for the site.

“They going to do a good job to visually punctuate the corner of 100th Street and Frank Lloyd Wright,” said Ortega, adding that the buildings and the project will compliment the neighborhood.

Area activist asks for medians Ortega has been active on neighborhood development issues. He has tried to convince the city to add landscaped medians along more than a mile of 100th Street, between Frank Lloyd Wright Boulevard past Thompson Peak Parkway, and for nearly a mile along 92nd Street, between Frank Lloyd Wright Boulevard and Raintree Drive. Ortega has a point.

As a neighborhood resident, I have noticed how these five-lane roads were designed for heavier traffic. The wide expanse of un-shaded asphalt is overkill and merely adds to the urban area’s heat-island effect.

Apartment rents are climbing Valley developers are expected to add 7,000 apartment units this year, increasing the inventory by 3 percent, according to Marcus & Millichap’s second quarter apartment market report. The second-quarter vacancy rate is estimated at 5.4 percent.

In southern Scottsdale, the vacancy rate was 6.4 percent, while average rents were up 2.2 percent to $872 per month.

Rent Valleywide increased 4.1 percent to $768 per month.

In the past two years, about 20,000 apartment units were converted to condominiums, but sales have slowed. That has stalled conversions in Scottsdale and throughout the Valley.

Marcus & Millichap also reports that apartment complex sales were down 12 percent year-over-year, but the median sales price increased 12 percent to $66,700 per unit. 

www.theholmgroupaz.com

AZ Republic – Market Street tries to build on success

Peter Corbett
The Arizona Republic
Aug. 30, 2007 03:14 PM 
 

SCOTTSDALE – Two restaurants and four new shops will fill vacancies early next year at Market Street at DC Ranch. Sol y Sombra chef Aaron May will open a second restaurant called Autostrada.

The Herb Box also plans to open a second Scottsdale café and market at DC Ranch.


“We recognized a great opportunity in Market Street and we are looking forward to joining the vibrant shopping district,” said Susan Wilcox, Herb Box co-owner.
DMB Associates, which is developing DC Ranch, opened Market Street in 2001. A number of restaurants and shops have succeeded at Market Street, but others have failed, leaving several high-profile storefronts vacant.

Market’s Street’s restaurants and bars do a brisk business, particularly on weekends. That includes Sol y Sombra, Eddie V’s Edgewater Grill, Armitage Wine Lounge & Cafe, San Felipe’s Cantina, Blue Wasabi Sushi & Martini Bar, Flo’s Hong Kong Food Market and Patsy Grimaldis’s Pizzeria.

But the retail has been less successful.

“We’ve been trying to court the right tenants to get the right mix at Market Street,” said Robert Mayhew, a DMB vice president. DC Ranch’s nightspots rocking Market Street hits on “all cylinders” at night, but it has not attracted enough patrons for lunches, Mayhew said, adding that the Herb Box and Autostrada should help with that.The Herb Box, with its first location at 6990 E. Shea Blvd., will be open on Market Street for breakfast and lunch.

Autostrada, which will be open from 7 a.m. to 11 p.m., well, expands on Chef May’s offerings at Sol y Sombra, a tapas restaurant that opened on Market Street just over year ago.

“Market Street’s appeal is unlike any other in the Valley,” May said. “The clientele is sophisticated and appreciates innovative dining experiences.”

Market Street’s new shops will include a women’s casual clothing retailer, an art gallery, a jeweler and a luxury home furnishings boutique focusing on bed and bath items.Nearly 3,000 homes, eventually DC Ranch opened in 1997 with 400 property owners. It has grown to 2,300 owners and should add another 600 when the community is completed, according to DMB.DMB plans to bring the Grazie Pizzeria Winebar to DC Ranch in the first quarter of 2008. The third Grazie location will be in the new Canyon Village office and retail project at Union Hills Drive and Thompson Peak Parkway.

Grazie’s co-owner Maurizio Cristiani has a pizzeria in downtown Scottsdale and one at DMB’s Verrado community in Buckeye.

In addition to Canyon Village, DMB also plans to build the 27-acre DC Ranch Crossing center southeast of Pima Road and Union Hills Drive. The mixed-use project will include an AJ’s Fine Foods market.   

If you are looking for a home in the DC Ranch area click here.

Tribune – Multiuse F.H. project could spark downtown

Mike Branom, Tribune Civic leaders in Fountain Hills long have wanted something, anything, to enliven the dormant downtown.

Now, a developer and investment company have announced plans to construct a large mixed-use project, featuring a 12-screen movie theater complex, near the town’s namesake park. Groundbreaking on Fountain Hills Town Square could start by the beginning of 2008, its backers said Tuesday.

So, Fountain Hills soon will learn whether its hopes for an energy boost can survive the realities of zoning hassles, free-market competition, wary residents and the idea of handing over incentives worth mil- lions of taxpayer dollars.

“My feeling is, if the numbers work out I support it,” Mayor Wally Nichols said. “If the numbers don’t work out, I don’t support it.”

Plans call for 120 to 150 loft condominiums, 200,000 square feet of retail shops and restaurants, and up to 100,000 square feet of office space. Also to be constructed is a two-story parking garage.

The project would be constructed on a 13-acre parcel bordered by Avenue of the Fountains and Paul Nordin Parkway, Saguaro Boulevard and the Town Hall/Civic Center complex.

According to developer Eric Saur, the estimated cost is $140 million.

“Instead of people seeing the fountain and going home, we want them to see the fountain and then shop and play,” Saur said.

The Town Square Project, Saur continued, was inspired by the success of Kierland Commons, the 38-acre “lifestyle center” in northeast Phoenix.

“We’re trying to build an urban core in a suburban market,” Saur said.

Saur is president of Conrad Properties West, a St. Louis-based development firm. Town Square would be its first project in the West.

Attracting retailers to Fountain Hills has been a chronic problem for the town because of its small size and remote location.

But George Kasnoff, who heads the investment firm backing Town Square, is banking on drawing from new developments in the town’s state trust land and nearby Goldfield Ranch. Also, the project will target Scottsdale residents who live on the eastern end of the Shea Corridor.

“In 1995, when I moved to Scottsdale, Fountain Hills was out in the country,” Kasnoff said. “Now, you can throw a baseball from one to the other and hit residents from both sides.”

Before this project becomes a reality, however, many issues must be settled between the developers and the town.

Special-use permits will be needed because current zoning does not allow residential use, and the movie theater’s height of 46 feet would exceed the town’s current limit by 6 feet.

Also, the town’s formula for determining the number of parking spaces needed shows Town Square to be 1,000 short. But Saur hopes to use a “shared parking” solution, which takes advantage of specific groups of motorists — residents, office workers, moviegoers — needing parking at different times.

Of course, residents will have to be mollified that such a massive undertaking will not ruin what, to them, makes Fountain Hills special. For example, the average weekday traffic count on Avenue of the Fountains at Saguaro is 6,100 vehicles. By how many multiples might that grow?

An expert on Valley real estate wondered if this may be too much for the town to swallow whole.

“I suspect a lot of people are going to raise a great deal of ire over the project because this would be so changing the nature of Fountain Hills,” said Jay Butler, director of the Arizona State University’s Realty Studies program. “Desert Ridge (in Phoenix) and Kierland, they came in first and everything sort of built around them.”

But the largest potential sticking point is the developer’s request for $9 million in incentives. The breakdown is:

• $4 million for a parking garage, first paid for by the developer, then refunded through town sales tax rebates.

• $4 million in waived commercial permit and licensing fees.

• $1 million for renovating Avenue of the Fountains. Kasnoff said the town already has the renovations budgeted.

Kasnoff insists “the town’s not writing a penny of the check.”

But Nichols wants to make sure that’s true.

Said the mayor, “I’m not going to mortgage the future of our grandchildren.”  

AZ Central – Equestrian Trails home sells for nearly $5 million

Aug. 28, 2007 01:43 PM A president of a real estate company, a CEO, a medical doctor and a principal of a management company are among the buyers and sellers in this weeks done deals.

$4,783,000 Alfred J. Brothers and his wife Hillary purchased a 7,693 square-foot home with 500 square-foot pool originally built in 2005 at Equestrian Trials on the southwest side of Camelback Golf Club in Paradise Valley. Alfred Brothers is CEO of Cavalry Portfolio Services, based in Hawthorne, N.Y., with offices in Arizona. The home was sold by Russell E. and Julie D. Mason, as Trustees of the Russell E. and Julie D. Mason Family Trust.

$4,000,000 James K. Lassetter and his wife Kristin paid cash for a 6,098 square-foot home originally built in 2004 on the southern edge of the Country Club at DC Ranch in Scottsdale. James Lassetter is a medical doctor from Salt Lake City. The home was sold by Drew H. Webb and his wife Maureen.

 $3,187,500 William Hall of Scottsdale purchased a 5,379 square-foot home with 500 square-foot pool originally built in 2005 at Tatum Garden Estates west of the Camelback Golf Club in Paradise Valley. The home was sold by William S. Howard.

$2,813,000 Warren Ruttenberg and his wife Christina paid cash for a 4,872 square-foot home with 302 square-foot pool originally built in 2004 at the south side of DC Ranch in Scottsdale. Warren Ruttenberg is the son of Harold Ruttenberg, the founder of Just for Feet. The home was sold by Rebecca L. Bowman Nassikas, as Trustee of the Rebecca L. Bowman Trust. Rebecca Nassikas and her husband, William Nassikas, a principal of Westroc Hospitality, paid $3.1 million in cash for a home in Paradise Valley back in April.

$2,700,000 Gerald A. Lembas and his wife Carol paid cash for a new home south of the Desert Highlands Golf Club in Scottsdale. Gerald Lembas is president of Transylvania International Inc., a real estate management company in Clarkdale. The home was sold by Red Moon Homes Inc. of Gold Canyon, whose president is William B. Woodruff. Researched by John McLean and the Information Market.

Some other communities you might be interested in looking into:

Whisper Rock

http://www.theholmgroupaz.com/WhisperRock.htm

The Boulders

http://www.theholmgroupaz.com/theBoulders.htm

Fountain Hills

http://www.theholmgroupaz.com/FountainHills.htm


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