Archive for March, 2011

Prudential Arizona acuired by Prudential Americana

For Immediate Release Contact: Sarah Thornton
April 5, 2011 PH: 702-239-0785; sarah@sarahthorntonpr.com

Prudential Americana Group Acquires Arizona Franchise
Company Adds Nearly 600 Sales Executives and Employees

LAS VEGAS (April 5, 2011) Today Prudential Americana Group announced the acquisition of Prudential Arizona, a franchise operating in Phoenix and its surrounding cities. Mark Stark, CEO of Prudential Americana Group in Nevada, has become CEO of Prudential Arizona and is the Prudential franchisee and sole owner of both companies.

Prudential Arizona will retain its name, management team and current operations. The company has approximately 567 sales executives and 30 employees in 11 offices throughout the state. Prudential Americana Group’s management and 1,000 sales executives, along with 54 corporate employees, will also remain the same. According to Stark, the two companies will both have greater sales opportunities by utilizing relocation and referral services to broaden their offerings between two states.

“This is a great step in the growth of both companies,” said Stark. “We have more resources at our disposal to help sales executives provide the absolute best service in the industry, and are operating in similar economic environments. The Arizona market continues to get stronger and I see job growth continuing in a positive direction. This will drive real estate sales, overall market health and business success.”

Prudential Arizona has branch offices in locations including Phoenix, Scottsdale, Peoria, Gilbert, Chandler, Gold Canyon, Fountain Hills, Avondale and Cave Creek. Prudential Arizona is the largest Prudential franchise in the state. In 2010, the company posted a sales volume of $700 million and 3,079 closings. Prudential Americana Group’s 2010 sales volume was $1.47 billion with 8,294 closings.

“This is an exciting new chapter for both organizations and me personally,” said Stark. “I have been with Prudential for my entire 25-year real estate career and am proud to represent its name with these two amazing companies. Since joining Prudential in 1985, I have seen some extreme real estate environments and along with a great group of professionals, have weathered them all. This change brings huge opportunities for business growth in both Nevada and Arizona, especially in our relocation and direct referral efforts.”

Prudential Americana Group is one of Nevada’s top-selling real estate companies and has more than 1,000 sales executives and approximately 4,200 current home listings. It is an independently owned and operated member of Prudential Real Estate affiliates. For more information, visit http://www.americanagroup.com.
-END-

Sage Scottsdale – Selling Now..

A few facts regarding Sage:
• Sage is newly completed and is being released for the first time to the market
• The community has only 16 Townhomes and 34 Condominiums
• Located a 5 minute walk from Fashion Square Mall, on the corner of Chaparral and the Canal
• The finish level rivals a custom built home including real hardwood floors, Dacor, Bosch and Grohe fixtures and appliances
• Clubhouse with pool, hot spa, bbq grills, fitness center, homeowner conference room
• 2 and 3 bedroom Condominiums and Townhomes from 1500-2200 square feet
• Prices starting in the low $300′s

The Holm Group
480-206-4265

New Listing in Kierland Heritage

For More Information on the property, Contact Andrew Holm.
15240 N. Clubgate Dr. #165 • Scottsdale, AZ 85254
Treasured Jewel near Kierland Commons and Scottsdale Quarter!
Perfect location! Walk to Kierland, golfing, Westin Resort, plus a ton of
restaurants & shops! Live life to the fullest with this stunning upgraded
home! 22 ft. ceilings, 3 bedroom, 3 bath, gas cooktop & heat, fireplace,
firepit & barbeque! New carpet & wood flooring 2007, updated vanities
‘07, exterior paint & landscaping ‘07, escape the everyday lifestyle &
enjoy the luxury of this open floorplan with greatroom design! The majestic
mountain views from the master bedroom balcony will revitalize the mind or relax
in the heated community pool & spa! Priced to sell but not a short sale,
foreclosure or bank owned! Buyer to pay $500 working capital fee.
Property
Amenities

  • 3 Bedrooms
  • 3 Baths
  • 2,333 sq. ft.
  • 2 Car Garage
  • 2-Story Townhome
  • Golf Course Subdivision
  • Cul-De-Sac Lot
  • City Lights & Mountain Views
  • Gated Community
  • 9+ Flat Ceilings, Intercom
  • Gas Fireplace in Living Room
  • Breakfast Room, Breakfast Bar
  • Kitchen Features: Disposal, Dishwasher,
    Refrigerator, Pantry, Kitchen Island
  • 2 Master Bedrooms: Walk-in Closet, Full Bath with
    Separate Shower & Tub, Double Sinks, Separate Exit
  • Covered Patio, Balcony/Deck, Firepit
  • Community Features: Heated Pool & Spa
For More
Information, Contact:

Andrew Holm Andrew
Holm

REALTOR®
Cell 480.206.4265
Andrew@TheHolmGroupAZ.com
www.TheHolmGroupAZ.com

 

prudential logo

 

New Listing in Desert Ridge Aviano – 3643 E. Louise Dr Phoenix AZ 85050



For More Information on the property, Contact Andrew Holm.
3643 E. Louise Dr. • Phoenix, AZ 85050

SHORT
SALE priced for quick sale. Fantastic 2007 built, highly upgraded Aviano
residence, upgraded amenities include hardwood and tile flooring, custom
paint throughout, epoxy in 3 car garage. Chef’s kitchen is complete with
granite counters and top of the line appliances. Resort like back yard with
custom pool and built in BBQ. Master bath is complete with upgraded separate
shower and tub. An awe inspiring interior rotunda and courtyard complete this
perfect Santa Barbara Style Residence. Aviano Rec. Complex includes pools,
gym, tennis, and much more.

Property
Amenities

  • 4 Bedrooms
  • 3 Baths
  • 3,130 sq. ft.
  • 3 Car Garage
  • Private Pool
  • Fireplace in Living Room
  • Desert Front Landscaping
  • Desert/Synthetic Grass Backyard
  • Great Room, Den/Office
  • Formal Dining Area, Eat-in Kitchen
  • Kitchen Features: Disposal, Dishwasher, Refrigerator,
    Pantry, Granite Countertops, Kitchen Island
  • Master Bedroom: Walk-in Closet, Full Bath with
    Separate Shower & Tub, Double Sinks
  • Covered Patio
  • Community Features: Biking/Walking Path,
    Clubhouse/Rec Room, Heated Pool & Spa, Tennis Courts, Near Bus Stop

Andrew Holm

For More Information, Contact:

Andrew Holm

REALTOR®

Cell 480.206.4265

Andrew@TheHolmGroupAZ.com

www.TheHolmGroupAZ.com

prudential logo

JD Powers

AZ Central – Mummy Mtn. Preserve

By Philip Haidiman

AZ Republic
\When Robert Griego moved onto Mummy Mountain in Paradise Valley more than 10 years
ago, his architects recommended that he build to the top of the mountain for
better views. But Griego grew up in the Valley and remembers seeing roads cut
into the mountains.

“It really scarified the mountains, and I didn’t want to cut up Mummy Mountain,” he
said. About five years ago, Griego donated that part of his property — 3 of
his 7.5 acres — to the Mummy Mountain Preserve.

OPEN HOUSE

The Mummy Mountain Preserve Trust is holding an open house Wednesday to raise awareness about the
preserve. The meeting is from 5:30-7:30 p.m. at the Sanctuary Camelback
Mountain Resort and Spa, 5700 E. McDonald Drive, Paradise Valley. “We want
to give people an opportunity to learn more about the trust and help people to navigate the path toward
donation,” Trust Chairman Colin Williams said.

FILLING THE GAP

Williams said 70 percent of the land is now preserved, with a goal to preserve all 320 acres. “Of
course, it’s a tax write-off,” he said. “But it will also preserve
that which is undeveloped for future generations.”

MUMMY MOUNTAIN PRESERVE

The focus of the preserve, established in 1997, is to perpetuate the natural landscape, desert
plants, wildlife and scenic beauty of the mountain areas of town. Securing land
donations from property owners has protected the land from development. More
than 200 acres have been donated by deed or
conservation easement to the private preserve. About 100 acres have yet to be
donated, and 40 of the preserve’s acres have been donated by the JW Marriott
Camelback Inn.

AZ Central – Luxury Scottsdale condos likely to replace empty apartments..

by Edward Gately
- Mar. 14, 2011 09:33 AM

The Arizona Republic

An abandoned apartment complex near Scottsdale Fashion Square likely will be demolished in July to
make way for a luxury multi-level condominium complex with street-level retail.

Last summer, the Scottsdale City Council approved zoning changes to allow Optima to build its
Optima Sonoran Village complex on the southeastern corner of Camelback Road and
68th Street.

Optima, which has developed properties in Arizona and Illinois, purchased the 10-acre property in
spring 2010.The Orchidtree apartments have been sitting vacant on the site for
more than three years.

Optima Sonoran Village will include 493 residential units and 40,000 square feet of commercial, retail
and amenity space, for a total of 726,700 square feet of floor space, the
company says. Five buildings will be arranged around two courtyards in the
center of the property.

Four of the buildings will be seven stories, while the fifth building will have five floors on its
north side and fewer floors on its south side.

Optima’s plan drew mixed reactions from surrounding residents. Some support it, while others said its
height and density are inappropriate for the area.

David Hovey Sr., Optima president and owner, said activity on the site will likely begin in July and
the sequence for construction will be from east to west. The first units
should be ready for occupancy in 2013, he said.

Optima developed the Optima Camelview Village condominium complex at Scottsdale Road and Rancho
Vista Drive. That complex is larger, with 11 buildings on 14 acres.

“Optima Sonoran Village will consist of a similar architectural vocabulary and amenities to
Optima Camelview Village, but with a more pronounced emphasis on recesses in
the (building) facades,” Hovey said.

Optima is in the process of completing its construction documents, which then will be submitted to the
city to obtain a building permit, said David Hovey Jr., a vice president with
Optima.

“We’ll start with demolition of Orchidtree, which we expect to take anywhere from 30 to 45 days,
and then we’ll start right into construction. Construction should take
approximately three years.”

Optima Sonoran Village will have the same vertically stacked courtyard house concept as Optima
Camelview Village. It will include two levels of underground parking, Hovey Jr.
said.

The recession and real-estate meltdown have been detrimental to downtown
Scottsdale’s condominium market, but Hovey Sr. is confident all of that will be
in the past when construction is completed on Optima Sonoran Village.

“The downtown market is gradually getting stronger as the inventory decreases,” he said.
“(The years) 2013/2014 will look entirely different than the last few
years.”

AZ Central – 5 developers float plans for Bell Rd and 94th Street

by Peter Corbett
- Mar. 11, 2011 10:50 AM

The Arizona Republic

The Bell Road corridor near 94th Street would take on a new look under each of the five development
proposals Scottsdale is considering for 80 acres of city-owned land.

Three proposals are for apartment complexes, with one of them including nearly 100 single-family homes.

The other two plans are more unusual. One is for a wakeboard water park that uses electrical motors to
pull participants across two man-made lakes totaling 7.4 acres.

Another proposal is for Stagecoach Gap, a Western-themed town to include the Scottsdale Museum of the
West.

Scottsdale has postponed its review of each of the five plans until after April 5, when proposals are
due for a new multipurpose building for WestWorld, said Mark Hunsberger,
Scottsdale revitalization specialist.

That project south of Bell Road could have an impact on what is developed on the city’s 80-acre site
north of Bell and is split by 94th Street.

Stagecoach Gap would be a Western version of Colonial Williamsburg in Virginia with blacksmiths and
craftsmen in period costumes making cowboy boots, said Jim Bruner, Scottsdale
Museum of the West board chairman.

The nonprofit group Bruner heads has been trying to raise funds to develop a Western museum downtown.
That is still a goal but a smaller museum at Stagecoach Gap is a more immediate
opportunity because financing might be available for the entire $38 million
Western village, he said.

It would include a 30,000-square-foot museum, theater, movie house, restaurant, pool hall and
horse stables.

Stagecoach Gap would require no city investment. It would operate under a long-term lease with
Scottsdale sharing in the museum’s receipts.

The wakeboard water park from 1440 Inc. would operate on a long-term lease of $250,000 annually for the
eastern half of the city’s 80-acre site. The developer said the park would
generate about $624,000 annually in local and state taxes.

There are 10 wakeboard parks operating nationally but none are west of Texas, according to 1440 Inc.
principals Todd Arnold and Matt Shannon.

The residential-development proposals for the site include a partnership involving
Shea Homes, Alliance Residential Co. and Cassidy Turley/BRE Commercial.

Shea would build 95 homes and Alliance would add 283 apartments on a 37-acre site northeast of Bell
Road and 94th Street. That would include 42 homes of 1,700 to 4,000 square feet
on larger lots and 53 houses of 1,300 to 2,400 square feet on smaller lots.

Alliance’s apartment complex would feature two- and three-bedroom units of 700 to 1,400 square feet.

Shea would pay the city 10 percent of the price, or about $4.5 million, and Alliance would pay
Scottsdale $3.5 million for its 12-acre apartment site.

Mark-Taylor Inc. is proposing a 380-unit apartment complex on 24 acres northwest of Bell Road and
94th Street and using 4.4 acres for a retail-office park along 94th Street and

3.1 acres for a commercial parcel on Bell Road. The developer would include two-
and three-story buildings with apartments of one to three bedrooms.

Mark-Taylor would pay the city $10 million for land plus $3 million for building and impact fees.

JLB Partners has proposed 412 apartments on 37 acres northwest of Bell Road and 94th Street. It
would include units of 600 to 1,300 square feet in two- and three-story
buildings. JLB would pay Scottsdale $11 million for the land and another $2.5
million in taxes over five years.

AZ Central – Arizona Center sold for $136M

by Max Jarman – Mar. 8, 2011
06:21 PM
The Arizona Republic

The Arizona Center mixed-use development in downtown Phoenix has been sold to CommonWealth REIT of Newton,
Mass., for $136.5 million.

When it opened 21 years ago, the center was envisioned as a retail and entertainment magnet. When that concept
fizzled, much of the retail space was eventually converted to offices.

The sale of the property puts discussions about its future on the front burner again.

CommonWealth REIT controls a $6.4 billion national portfolio of office and industrial properties, including five
other projects in Arizona. It did not immediately respond to a request for information about its plans for the property.

The center includes over 1 million square feet of office and retail space. It was sold by General Growth
Properties Inc., which intends to focus on its regional malls.

General Growth, the nation’s second-largest mall owner behind Simon Property Group, emerged from Chapter 11
bankruptcy protection in November and has been shedding non-core assets such as
the Arizona Center.

“Hopefully, CommonWealth REIT will bring new energy to the project,” said Dave Roderique, president and
CEO of the Downtown Phoenix Partnership.

The Arizona Center was developed by high-profile mall developer Rouse Co. in 1990 in an effort to jump-start
redevelopment in downtown Phoenix.

The city contributed the land, then worth about $8 million, and granted the developer $40 million in sales-tax
rebates.

General Growth acquired the Arizona Center in 2004 through its $12.6 billion acquisition of Rouse.

The company is primarily a regional mall developer and didn’t seem to know what do with a mixed-use project such as
the Arizona Center.

Roderique said the addition of the Sheraton Phoenix Downtown Hotel, Arizona State University’s downtown campus and
the new convention center have made the area more viable and a retail and entertainment destination.

The 16-plus-acre Arizona Center consists of roughly 800,000 square feet of offices in two high-rises; 160,000
square feet of retail space, including an AMC Theatres complex; and several parking garages.

Included in the deal were three development sites that were originally zones for two more office towers and a
hotel.

Bob Young, a CBRE agent who represented the seller in the transaction, said the development parcels give
the buyer the opportunity to substantially increase the size and value of the project at some point down the road.

“In addition to acquiring an iconic asset, Arizona Center provides the future upside potential with the
development of three pad sites,” he said.

Steve Brabant, Glenn Smigiel and Rick Abraham of CBRE’s Phoenix office also worked on the deal.

David Keating, a spokesman for General Growth Properties, said the company intended to retain ownership of the
Tucson and Park Place malls in Tucson and the Mall at Sierra Vista in Sierra Vista.

General Growth Properties also is a part owner, with Westcor parent Macerich Co., of Arrowhead Towne Center in
Glendale and Superstition Springs Center in Mesa.

Andrew Holm attains Ceritified Depressed Property Expert Designations

FOR RELEASE: IMMEDIATE
Andrew Holm of Prudential Arizona Properties – Scottsdale AZ has earned the
prestigious Certified Distressed Property Expert (CDPE) designation, having
completed extensive training in foreclosure avoidance and short sales. This is
invaluable expertise to offer at a time when the area is ravaged by
“distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that
the home sells for, even though it is lower than what is owed on the property.
With plummeting property values, this can save many people from foreclosure and
even bankruptcy. More and more lenders are willing to consider short sales
because they are much less costly than foreclosures.
In the Phoenix area, more than 10,000 homes are in danger of foreclosing. It is happening in
all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on
complicated short sales,” said Holm. “It is so rewarding to be able to help
sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca
Raton, Fla., said that Realtors® such as Andrew Holm with the CDPE designation
have valuable training in short sales that can offer the homeowner much better
alternatives to foreclosure, which virtually destroys the credit rating. These experts also may
better understand market conditions and can help sellers through the emotional
experience, he said.

The Distressed Property Institute opened in January 2008 and
provides training on-site and online. The CDPE is the premier designation for
Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can
help as many homeowners as possible,” Charfen said.

In the Phoenix area, more than 20,000 homes are in danger of foreclosing. It is
happening in all price ranges. Local experts say that even high-priced homes are
not immune.

This CDPE designation has been invaluable as I work with sellers and lenders on
complicated short sales,” said Holm. “It is so rewarding to be
able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca
Raton, Fla., said that Realtors® such as Andrew Holm with the CDPE designation have
valuable training in short sales that can offer the homeowner much better
alternatives to foreclosure, which virtually destroys the credit rating. These experts also may
better understand market conditions and can help sellers through the emotional
experience, he said.

The Distressed Property Institute opened in January 2008 and
provides training on-site and online. The CDPE is the premier designation for
Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can
help as many homeowners as possible,” Charfen said.

AZ Central – Things you need to know a new-build

by Peter Corbett – Feb. 25, 2011 03:22 PM
The Arizona Republic

New homes generally offer the latest design features, less maintenance, warranties and often better energy efficiency than resale houses.

But as with any investment, buyers need to do their homework to get their money’s worth in the higher-priced new-home market.

Some real-estate agents recommend a home inspection before closing the deal.

“Just because it’s new doesn’t mean everything works properly,” said Laura Rightenburg, a Scottsdale real-estate agent who has also worked as a builder’s sales agent.

That is just one of the many tips agents and others in the Valley’s housing industry have for consumers who have been focused the past few years on the vast inventory of resale homes at declining prices rather than new homes. Other issues in play include financing, a builder’s financial strength and knowing the prices of existing homes near a new subdivision.

Location is always a prime concern, particularly its impact on commuting. Buyers also need to weigh where their home is within a subdivision, avoiding busy streets and other noisy locations.

Rightenburg, of Phoenician Properties Realty, advises buyers to pick a real-estate agent to represent their interests in what can become of dazzling array of new-home choices.

“Don’t rely on the seller in the model home,” who is working for the builder, she said.

Financing approval

Of course, a new-home search should start with buyers getting prequalified by a lender to learn what they can afford.

“Unless they’re capable,” said Mark Honek, World Class Realty broker, “why go around wasting a bunch of people’s time? Things aren’t what they used to be.”

Honek, who specializes in finding infill lots for new homes, said lenders are a lot stricter these days in screening buyers.

He advised buyers to make sure a builder is financially stable and can complete a subdivision.

“You don’t want to have the second home in an eight-house subdivision that stalls and the rest of the property” is vacant and neglected, Honek said.

Builders typically offer some of their best deals when a community first opens and prices often increase as a community is completed. Early buyers can save money, but they can also be marooned if sales stall.

Building pace stalls

New-home sales have been in steep decline since 2005, when a record 63,570 were built in the Valley. Last year, 8,066 homes were built, down 26 percent from a year earlier, said Greg Burger, RL Brown Housing Reports president.

By comparison, there were 106,975 existing homes sold in Maricopa County last year, according to Arizona State University Realty Studies.

Burger said the pricing discrepancy between existing and new homes is far greater than in a normal market.

The median price of a new home in December was $223,829, more than double the existing-home price of $110,000.

That compares to five years ago when new home median was $299,895 and existing homes were at $248,000, according to Burger.

Still, there is value in new homes. Builders who bought land in good locations at good prices are offering homes at prices competitive with resale homes, Burger said.

Smells like new

Builders are touting the design choices they make available to buyers, along with home warranties and stepped-up energy-efficient features.

Hal Looney, Arizona area president for Shea Homes Active Lifestyle Communities, said buyers do not want cooker-cutter homes.

“That’s why the iPod has been so successful. People want their own choice of music,” he said. “We’re seeing that in their homes.”

Trilogy at Vistancia in Peoria is offering flexibility in adapting bedrooms to offices and hobby rooms and even second offices for couples, he said.

Trilogy’s homes range from 1,300 to 3,100 square feet, with base prices ranging from $196,900 to $383,400.

Graham Epperson, vice president of sales for Pulte Group Arizona, said owners of new homes can enjoy their weekends without having to do home repairs or painting. There is a value in having a brand-new home, he said.

“You don’t have to accept that mysterious stain in the middle of the family room or someone else’s countertops,” Epperson said.

Pulte has 50 Valley communities, with prices ranging from $90,000 to more than $600,000.

Pulte, Shea and other Valley builders have made homes more energy efficient by adding more insulation, radiant barriers to reflect heat, along with better windows and air-conditioners. Photovoltaic panels are an option with some builders.

Andy Warren, Maracay Homes president, said building in the energy-efficient features is far more cost-effective than trying to retrofit an existing home.

He urged new-home buyers to carefully note the green features in the homes they are considering.

“New homes are better built than they were a few years ago, but not all new homes are built alike from an energy-use standpoint,” Warren said.


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