What do you get when you add top-of-the-line amenities, desert and golf views,  interesting architectural details, and spacious, open living areas?  Some would answer “luxury home”, but in the case of DC Ranch, you could very well answer “Townhome” as well.   Sometimes called Villas, many DC Ranch townhomes have everything a home has, except the large amount of land, and in many cases a shared wall or two.

Who wants to pay over $500,000 for a townhome?  Actually there is a contingent of affluent buyers interested in either downsizing from a large home with a large yard, or looking to buy a winter home with a low maintenance yard that can be left alone for several months without turning into a jungle.   Both buyer types  should consider at DC Ranch townhomes. 

Many townhomes, like those at the Courtyards at Market Street, have amenities you’d expect in a luxury home, like higher-end appliances, alder doors, high ceilings and wood floors.  All have garages, and some units will have gorgeous views.  I happen to like another set of DC Ranch one story villas that are gated, adjacent to the golf course and are a short walk to the DC Ranch Marketplace as well.

When looking for a luxury condo, townhome or villa, you’ll want to weigh your desire for low maintenance with your interest in privacy, views, and space.  DC Ranch communities offer many different choices in architecture and style, which is best seen in person.  Call me to arrange a tour and see if townhome living at DC Ranch is for you!

Liz Suto - RE/MAX Integrity REALTORS - 623-810-1273

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Scottsdale condo and townhome sales in December, 2007 lagged last
 year’s December sales.  96 townhomes and condos sold in December,
 compared to 160 in December of 2006.  The average price was $309,882,  less than a 1% decline from 2006. 

Lower-priced condo sales were brisk, with over half of the sales priced under $230,000.  Most of these sales were concentrated in downtown Scottsdale and south Scottsdale.

Scottsdale was full of condo shoppers that kept agents busy in December, but many agents remarked to me how buyers were generally skittish and not quite ready to pull the trigger on a purchase. 

The most expensive condo sold in December was at the Scottsdale
 Waterfront for $1,500,000.  The tenth floor 2,265 square foot condo
 has stellar views of the waterfront area and the valley.

                     December, 2007                                    December, 2006
  #sold                    96                                                    160

 Average price        $309,882                                      $312,166

 Days on Market    141                                                 115

  Avg. Price psqft    $228                                             $223

Statistics are  based in whole or in part on the data supplied to the Arizona Regional Multiple Listing. Service.. ARMLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by ARMLS may not reflect all real estate activity in the market.

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Downtown Scottsdale developers have underserved a crucial segment of the real estate buyer population - the condo buyer under $400,000.  There’s been a collective cringing at downtown midrise condo prices, which usually start at over $500,000 and move quickly up from there.  But the real interest in downtown living is coming from the population that can’t afford those prices.

 Enter Ten Wine Lofts (also known as “X Wine Lofts”), whose entry price is $399,900 for a one bedroom (889 square feet) condo.  The current incentives (call me for more details - 623-810-1273) make the entry price even more attractive.

The 4-story building (parking on the bottom floor) has all balconies facing outward, with open-air entrances in the interior.  The community layout emphasizes the interior courtyard as a gathering place, with a glass-enclosed workout room and community room, pool, spa, firepit and landscaping.   And as for location - it’s about the farthest south I’d recommend going, but still on the edge of the downtown action.  

Security will be tight (gated parking and secured entrances) without residents paying for a doorman, which could make the Ten Lofts a hit for both winter residents and full time owners.   The units aren’t really “loft” like with the exposed ductwork, but the ceilings are high and the living space is open.

The first units should close in January/February of 2008.  The entire building is supposed to be completed in late spring of 2008. 

 Make sure you are adequately represented - call me before you visit the community.

Liz Suto - RE/MAX Integrity REALTORS - 623-810-1273

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Yes, you can get in the car and drive to the Scottsdale Athletic Club or some City of Scottsdale courts to get your tennis in, but why not play where you live?  If walking to your tennis courts makes your eyes light up, here are two tennis resorts in Scottsdale with condos and townhomes within a short walk to the courts.

The Racquet Club at Scottsdale Ranch - A resident tennis pro, tennis mixers and leagues, and 9 lighted courts, all within walking distance inside the guarded, gated community of the Racquet Club.  The resort atmosphere, with fountains, pools and spa,  is a draw for both full time and winter residents.  Residences start at the $170’s for condos with covered parking.  Townhomes with garages start at the $340’s.

Gainey Ranch - Gainey Ranch is another resort style community with a good tennis program. 7 lighted courts are available for residents at a nominal fee per play or per month.  There is no fee for residents of The Courts at Gainey Ranch, who also have the shortest walk to the courts.  “Plexicushion” surfaces are easy on the body.  Prices start at the $340’s for condos with garages, up to the $900’s for townhomes and patio homes.

Sales in Gainey and the Racquet Club usually pick up in January and February, so consider starting your condo search now in these communities, instead of being part of the crowd.  Call for information on what is available for sale in the Racquet Club or Gainey Ranch - Liz Suto - RE/MAX Integrity 480-353-8428

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Third Avenue Lofts was truly ahead of its time in Scottsdale, being one of the first true loft communities in Scottsdale. But the “lofty” prices that sellers commanded a few years ago at Third Avenue Lofts have caught up to many owners wanting to sell in this market. Buyers now have several choices in new Scottsdale loft communities, and many have sold for lower prices than what recent buyers have paid at Third Avenue. The result? Sellers wanting to get out at all cost. 10 out of 20 units for sale at Third Avenue lofts involve some kind of lender approval, and in most case that indicates a short sale, where the owner owes more on the property than the price it’s listed for. Read the rest of this entry »

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Is there more appreciation for new Scottsdale condos or older Scottsdale condos? That’s a question I get quite often when buyers are looking to buy not only a place to live, but an investment. Because this real estate market has been acting so un-natural in the past few years, it is hard to determine what will work in the next few years. Almost any way you slice it, Scottsdale condo prices have dipped in the last year, but statistics are leaning towards older condos holding up better than their newer counterparts. Older Scottsdale condos dropped 6.4% in price per square foot between the first 6 months of 2007 and the first six months of 2006. Newer Scottsdale condos dropped 8% for the same time period. New high rise condos were not factored into this comparison because they have their own dynamics going on.However, there are some condo developments that have worked better than others in appreciation, or lack of depreciation. I help my clients determine what communities are holding their value in the last year or two, and which condos are priced lower than their counterparts in the development. Read the rest of this entry »

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Updated June 6, 2007

Scottsdale Condos, townhomes and lofts over $400,000

Scottsdale condos, lofts and townhomes for sale > $400,000: 477

Pendings: 41

5/1 – 5/31 2007 5/1 – 5/31 2006

#solds 43 47

Read the rest of this entry »

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According to Arizona Regional Multiple Listing Service statistics, sellers are still usually getting on average over 95% of their asking price, and in many zip codes, the percentage is over 97%. That shocks some out-of-state bargain seekers that think they’ll swoop in to get properties at 50 cents on the dollar. Unless properties are in pre foreclosure and banks want to get them off the books, most sellers have a bottom line they won’t cross. And agents are trying their best to make sure sellers are pricing reasonably, at least after the first few weeks on the market. Read the rest of this entry »

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Condos, townhomes and lofts over $400,000

Current Listings: 494

Pendings: 48

3/1 – 3/31 2007 3/1 – 3/31 2006

#solds 37 47

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Many HOA fees for low to mid-priced condo developments are approximately $150 to $200 per month, not a bad deal considering it usually includes water, sewer, garbage, outside building maintenance, pool maintenance and landscaping. If you lived in a home, your insurance, garbage and water can easily reach that amount.

However, you’ll find that HOA fees quickly get up there when a condo is in a gated community. Read the rest of this entry »

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