Bob Lomax | Mirabel Lifestyle

2016 Mirabel Club Real Estate Year In Review 2016 turned out to be a pretty fair year for real estate sales in the Mirabel Club. 14 houses were sold during the year ranging in price from $1,185,000 to $2,255,000 with the average sales price per square foot being $373. This compares to 2015 when 10 houses were sold ranging from $1,075,000 to $2,500,000 and an average of $358 per square foot. As has been the case historically, the vast majority of home sales activity for both 2015 and 2016 occurred in the first 6 months of the year with 8 homes selling during that time in 2015 (80%) and 12 homes in 2016 (86%). Homesite sales for 2016 were pretty flat year over year with 9 lots selling ranging from $112,000 - $900,000 versus 9 lots in 2015 ranging in price from $205,000 - $650,000.

MIRABELFeatured FEATURED PROPERTY Mirabel Custom Home Lot 40 | 3 Beds | 3.5 Baths | 4,306 SQFT $1,995,000

JANUARY | FEBRUARY 2017

MIRAB

The Broker’s Corner

Mirabel LIFESTYLE

Color Hues & Cues THE 2017 PALETTE

The year 2017 should be an interesting year for real estate sales now that the divisive election is finally behind us. Based on the optimism about the economy shown in the stock market recently, we could have a break-out year with many buyers having been on the sidelines for some time now waiting for the right time to purchase their “place in the sun.” And homes available inventory will be at nearly an all-time high with 21 currently active in the multiple listing system and several others set to come on the market in the coming month. That compares to only 15 homes on the market for most of 2016.

A larger supply of available homes means more choices for discriminating buyers which will hopefully be good for sales.

As always, if you have any questions about real estate please don’t hesitate to contact me. Or better yet, stop by the gatehouse and say hello. Until next time …

Bob Lomax

Owner/Designated Broker Mirabel Properties

Fabulous new desert contemporary home designed by renowned architect Ron Brissette. Just completed. Floor to ceiling glass is everywhere captivating the majestic Continental Mountain views, city lights and sunsets. Giant corner retracting doors in the great room opens the entire house to the gorgeous backyard and covered patio area. Top of the line appliances, cabinetry, and finishes were selected to complete this home that was not originally intended to be a spec home. Lutron low voltage one touch lighting controls and automated shades are included as well. Who is going to be the lucky one to call it home?

BOB LOMAX

OWNER/DESIGNATED BROKER MIRABEL PROPERTIES

480.595.2545 OFFICE 480.595.9503 FAX 602.920.7192 MOBILE

www.mirabel.com If your home is currently listed, this is not a solicitation for that listing.

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

Market Update

Phoenix Real Estate Outlook

The Capital Grille

Flourless Chocolate Espresso Cake

Custom Mirabel Home Presented By Bob Lomax

Phoenix Market Update

EVENTFUL

JANUARY | FEBRUARY 2017

The Many Shades of

Scottsdale Artwalk

Scottsdale Speakeasy Nights at Desoto Central Market 915 N Central Ave | February 17 DesotoCentralMarket.com Hold on to your suspenders and prep yourself for a blast into the past. Join DeSoto Central Market every third Wednesday evening for Speakeasy Night. Starting at 7 p.m., the lights dim for some Speakeasy tunes and shhhhhh-cocktail specials. Enjoy live music by the Uptown Big Band at 7:30 p.m., with a dance lesson at 8:30 p.m.

Dust off those dancing shoes and dive back into the 1930s at DeSoto Central Market!

W T

he Phoenix area continues to display positive news for home sellers. Experts are predicting this area to be the top housing market in the country in 2017.

Realtor.com forecasts 5.9 percent price gains and 7.2 percent sales growth.

Zillow Phoenix lists the current average home value at $220,600, showing an annual increase of 8.8 percent that’s expected to continue in the new year.

The U.S. real estate market in 2016 was characterized by record-low levels of supply, strong demand and record-high prices. As we enter 2017, many analysts and economists expect to see moderate growth in the residential real estate over the next 12 months, reflecting projected interest rate hikes as well as a forecasted 2.1 percent economic growth.

“After an eventful election, demand for real estate appears to be carrying momentum going into the holiday season,” said Javier Vivas, manager of economic research for Realtor.com. “We expect that to be put to the test, as mortgage rates sky rocket to new highs. But the economic foundations remain strong and most forecasts expect growth as we enter the New Year.”

Nela Richardson, chief economist for Redfin, agreed that bullish real estate sales prices are decelerating. “After several years of steady and steep price growth, we are seeing indications that price growth is slowing and the market is normalizing,” said Richardson.

Sculpture & Wine Festival in Fountain Hills

Nationally, home prices have gone up 5.1 percent over the past year but the forecasted gain for 2017 is expected to be closer to 3.9 percent.

16810 E Ave of the Fountains |January 13-15 480.837.5637 | ThunderbirdArtists.com Thunderbird Artists, award-winning producer of juried fine art and wine festivals in Arizona, is gearing up for a celebration of sculptors from across the globe. The Sculpture and Wine Festival in Fountain Hills takes place near the fourth largest fountain in the world. Patrons will be awestruck by the beauty of strolling through the stunning array of sculptures comprised of bronze, stone, copper, clay, metal, glass, gourd, found objects and more. Savor the ambiance of sipping fine wines while listening to musicians and admiring the broad collection of art.

Many cities in California have experienced tremendous price growth over the last few years. While housing markets across the Golden State are slowing down as demand softens, several California cities rank in the top five in the country for sales and price growth predicted for 2017. Housing market forecasts for the new year also indicate that Seattle, Portland and other real estate markets in the Pacific Northwest will continue to outpace the nation in 2017, in terms of home-price appreciation.

Waste Management Phoenix Open Scottsdale Tournament Players Club January 30 - February 5 602.870.0163 | WMPhoenixOpen.com Annually sporting the largest crowds on the PGA Tour, the Waste Management Phoenix Open has gained legendary status on Tour for being unlike any other golf tournament. It starts with the unbelievable golf played by the likes of Rickie Fowler, Brandt Snedeker, Bubba Watson, Phil Mickelson, and Keegan Bradley on the beautiful TPC Scottsdale and ends with the biggest galleries on Tour. If you are visiting for the first time, hole 16 is a must-see. Visit their website for a list of events and concerts throughout the week.

While home prices have risen steadily, homebuilders have not kept pace with demand. With wages rising and unemployment low, 2017 will be the year builders finally start building in earnest again. Experts are estimating new home sales to increase 10 percent in the coming year.

8.8%

The Mortgage Bankers Association (MBA) expects the average rate for a 30-year home loan to reach 3.7% by the end of 2016, and to continue rising gradually throughout 2017. The general consensus was that mortgage rates would rise gradually throughout 2016, but that did not happen. In fact, the average rate for a 30-year home loan declined since the beginning of the year.

hat colors will soon be appearing on elegant home walls, in posh clothing boutiques, and in designer showrooms this year? From paint companies to fashion bloggers to Pantone – the color authority in the design community – the colors of 2017 have been predicted and what we’re finding is a delightful mixed bag of bright hues and earthy colors sure to please one and all.

A look at Pantone’s selection for the fashion colors of the year incudes the following top 10 fresh hues: Primrose Yellow, Pale Dogwood, Hazelnut, Island Paradise, Greenery, Flame, Pink Yarrow, Niagara, Kale, and Lapis Blue. While the greens, blues, and brown are mellow and natural, the vivid pink, orange, and yellow give plenty of pops of color to awaken your wardrobe … or even your home from winter. Think throw pillows in bright Flame in the living room or perhaps an accent wall in warm Primrose Yellow to liven up a foyer or dining room. Pale Dogwood is perfect for a young girl’s bedroom, while calming Niagara is ideal for the master suite.

Cheerful Pink Yarrow drapery or Kale velvet seating will set the scene in any hip home in 2017.

Poised Taupe is the 2017 color of choice for Sherwin-Williams, which describes the hue as if “gray and brown had a baby.” This warmer play on the more cool grays of recent years will work well as a backdrop to brighter hues. Glidden chose Byzantine Blue to be their color of the year, sticking with a cool blue that can appear more gray or bluish-purple depending on its surroundings and pairings. And Olympic Paints opted for their soft violet hue Cloudberry as its color of the year, suggesting it offers a peaceful retreat at home from our stressful work environments.

Whatever choices or changes you make in your home this new year, remember that embracing color, whether it be in textiles or paint color for your walls, can be an easy and inexpensive way to freshen up your space.

PRIMROSE

SHADOW

POISED TAUPE

Flourless Chocolate Espresso Cake INGREDIENTS 1 lb 1 lb 1 c 1 c 8

Semisweet chocolate (coarsely chopped) Unsalted butter (diced) Freshly brewed espresso Golden brown sugar Eggs (beaten to blend)

DIRECTIONS Preheat oven to 350 degrees. Line bottom of a 9-inch diameter cake pan with 2-inch high sides with parchment paper. Place all chocolate in large bowl. Bring butter, espresso and sugar to a boil in medium saucepan, stirring to dissolve sugar. Add chocolate; whisk until smooth and cool slightly. Whip eggs till blended. Stir eggs into chocolate mixture until blended. (Do not whip.) Pour batter into prepared pan. Place cake pan in roasting pan. Pour enough hot water into roasting pan to come halfway up sides of cake pan.

Bake until center of cake is set and tester inserted into center comes out with a few moist crumbs attached, about 45 minutes. Remove pans from water and chill cake overnight.

REAL ESTATE

corner

Grandfather Clock Brown, and Ebony King, among others.

And what colors do the paint companies see for interior design in the year ahead? Benjamin Moore declared Shadow to be its color of the year. This moody deep purple amethyst color seems rich, mysterious, and regal. Benjamin Moore’s 2017 entire color palette seems muted and chalky, dark and rich, all reminiscent of Old Masters paintings: Chalk White, Stormy Monday, Sea Life,

IN GOOD TASTE

Various Galleries | January 17 ScottsdaleGalleries.com Scottsdale ArtWalk is like a large, laid back open house for the Scottsdale Arts District, located along Main Street and Marshall Way in Scottsdale Downtown. “America’s Original ArtWalk,” this weekly gathering takes place every Thursday evening (except Thanksgiving) when all galleries belonging to the Scottsdale Gallery Association open their doors to the public and show off the work of the Southwest’s outstanding artists. Enjoy strolling through the galleries and around an area punctuated by dramatic statues, fountains, restaurants and more.

Horse-drawn carriage and trolley rides are often available from nearby free parking areas.

TheCapitalGrille.com | 480.348.1700

Cut around pan sides to loosen cake. Using oven mitts, hold pan bottom over low heat for 15 seconds to release cake. Place platter over pan, hold tightly and invert. Lift off cake pan, peel off parchment and dust top of cake with cocoa powder. Optional garnish: fresh raspberries and raspberry sauce.

Phoenix Market Update

EVENTFUL

JANUARY | FEBRUARY 2017

The Many Shades of

Scottsdale Artwalk

Scottsdale Speakeasy Nights at Desoto Central Market 915 N Central Ave | February 17 DesotoCentralMarket.com Hold on to your suspenders and prep yourself for a blast into the past. Join DeSoto Central Market every third Wednesday evening for Speakeasy Night. Starting at 7 p.m., the lights dim for some Speakeasy tunes and shhhhhh-cocktail specials. Enjoy live music by the Uptown Big Band at 7:30 p.m., with a dance lesson at 8:30 p.m.

Dust off those dancing shoes and dive back into the 1930s at DeSoto Central Market!

W T

he Phoenix area continues to display positive news for home sellers. Experts are predicting this area to be the top housing market in the country in 2017.

Realtor.com forecasts 5.9 percent price gains and 7.2 percent sales growth.

Zillow Phoenix lists the current average home value at $220,600, showing an annual increase of 8.8 percent that’s expected to continue in the new year.

The U.S. real estate market in 2016 was characterized by record-low levels of supply, strong demand and record-high prices. As we enter 2017, many analysts and economists expect to see moderate growth in the residential real estate over the next 12 months, reflecting projected interest rate hikes as well as a forecasted 2.1 percent economic growth.

“After an eventful election, demand for real estate appears to be carrying momentum going into the holiday season,” said Javier Vivas, manager of economic research for Realtor.com. “We expect that to be put to the test, as mortgage rates sky rocket to new highs. But the economic foundations remain strong and most forecasts expect growth as we enter the New Year.”

Nela Richardson, chief economist for Redfin, agreed that bullish real estate sales prices are decelerating. “After several years of steady and steep price growth, we are seeing indications that price growth is slowing and the market is normalizing,” said Richardson.

Sculpture & Wine Festival in Fountain Hills

Nationally, home prices have gone up 5.1 percent over the past year but the forecasted gain for 2017 is expected to be closer to 3.9 percent.

16810 E Ave of the Fountains |January 13-15 480.837.5637 | ThunderbirdArtists.com Thunderbird Artists, award-winning producer of juried fine art and wine festivals in Arizona, is gearing up for a celebration of sculptors from across the globe. The Sculpture and Wine Festival in Fountain Hills takes place near the fourth largest fountain in the world. Patrons will be awestruck by the beauty of strolling through the stunning array of sculptures comprised of bronze, stone, copper, clay, metal, glass, gourd, found objects and more. Savor the ambiance of sipping fine wines while listening to musicians and admiring the broad collection of art.

Many cities in California have experienced tremendous price growth over the last few years. While housing markets across the Golden State are slowing down as demand softens, several California cities rank in the top five in the country for sales and price growth predicted for 2017. Housing market forecasts for the new year also indicate that Seattle, Portland and other real estate markets in the Pacific Northwest will continue to outpace the nation in 2017, in terms of home-price appreciation.

Waste Management Phoenix Open Scottsdale Tournament Players Club January 30 - February 5 602.870.0163 | WMPhoenixOpen.com Annually sporting the largest crowds on the PGA Tour, the Waste Management Phoenix Open has gained legendary status on Tour for being unlike any other golf tournament. It starts with the unbelievable golf played by the likes of Rickie Fowler, Brandt Snedeker, Bubba Watson, Phil Mickelson, and Keegan Bradley on the beautiful TPC Scottsdale and ends with the biggest galleries on Tour. If you are visiting for the first time, hole 16 is a must-see. Visit their website for a list of events and concerts throughout the week.

While home prices have risen steadily, homebuilders have not kept pace with demand. With wages rising and unemployment low, 2017 will be the year builders finally start building in earnest again. Experts are estimating new home sales to increase 10 percent in the coming year.

8.8%

The Mortgage Bankers Association (MBA) expects the average rate for a 30-year home loan to reach 3.7% by the end of 2016, and to continue rising gradually throughout 2017. The general consensus was that mortgage rates would rise gradually throughout 2016, but that did not happen. In fact, the average rate for a 30-year home loan declined since the beginning of the year.

hat colors will soon be appearing on elegant home walls, in posh clothing boutiques, and in designer showrooms this year? From paint companies to fashion bloggers to Pantone – the color authority in the design community – the colors of 2017 have been predicted and what we’re finding is a delightful mixed bag of bright hues and earthy colors sure to please one and all.

A look at Pantone’s selection for the fashion colors of the year incudes the following top 10 fresh hues: Primrose Yellow, Pale Dogwood, Hazelnut, Island Paradise, Greenery, Flame, Pink Yarrow, Niagara, Kale, and Lapis Blue. While the greens, blues, and brown are mellow and natural, the vivid pink, orange, and yellow give plenty of pops of color to awaken your wardrobe … or even your home from winter. Think throw pillows in bright Flame in the living room or perhaps an accent wall in warm Primrose Yellow to liven up a foyer or dining room. Pale Dogwood is perfect for a young girl’s bedroom, while calming Niagara is ideal for the master suite.

Cheerful Pink Yarrow drapery or Kale velvet seating will set the scene in any hip home in 2017.

Poised Taupe is the 2017 color of choice for Sherwin-Williams, which describes the hue as if “gray and brown had a baby.” This warmer play on the more cool grays of recent years will work well as a backdrop to brighter hues. Glidden chose Byzantine Blue to be their color of the year, sticking with a cool blue that can appear more gray or bluish-purple depending on its surroundings and pairings. And Olympic Paints opted for their soft violet hue Cloudberry as its color of the year, suggesting it offers a peaceful retreat at home from our stressful work environments.

Whatever choices or changes you make in your home this new year, remember that embracing color, whether it be in textiles or paint color for your walls, can be an easy and inexpensive way to freshen up your space.

PRIMROSE

SHADOW

POISED TAUPE

Flourless Chocolate Espresso Cake INGREDIENTS 1 lb 1 lb 1 c 1 c 8

Semisweet chocolate (coarsely chopped) Unsalted butter (diced) Freshly brewed espresso Golden brown sugar Eggs (beaten to blend)

DIRECTIONS Preheat oven to 350 degrees. Line bottom of a 9-inch diameter cake pan with 2-inch high sides with parchment paper. Place all chocolate in large bowl. Bring butter, espresso and sugar to a boil in medium saucepan, stirring to dissolve sugar. Add chocolate; whisk until smooth and cool slightly. Whip eggs till blended. Stir eggs into chocolate mixture until blended. (Do not whip.) Pour batter into prepared pan. Place cake pan in roasting pan. Pour enough hot water into roasting pan to come halfway up sides of cake pan.

Bake until center of cake is set and tester inserted into center comes out with a few moist crumbs attached, about 45 minutes. Remove pans from water and chill cake overnight.

REAL ESTATE

corner

Grandfather Clock Brown, and Ebony King, among others.

And what colors do the paint companies see for interior design in the year ahead? Benjamin Moore declared Shadow to be its color of the year. This moody deep purple amethyst color seems rich, mysterious, and regal. Benjamin Moore’s 2017 entire color palette seems muted and chalky, dark and rich, all reminiscent of Old Masters paintings: Chalk White, Stormy Monday, Sea Life,

IN GOOD TASTE

Various Galleries | January 17 ScottsdaleGalleries.com Scottsdale ArtWalk is like a large, laid back open house for the Scottsdale Arts District, located along Main Street and Marshall Way in Scottsdale Downtown. “America’s Original ArtWalk,” this weekly gathering takes place every Thursday evening (except Thanksgiving) when all galleries belonging to the Scottsdale Gallery Association open their doors to the public and show off the work of the Southwest’s outstanding artists. Enjoy strolling through the galleries and around an area punctuated by dramatic statues, fountains, restaurants and more.

Horse-drawn carriage and trolley rides are often available from nearby free parking areas.

TheCapitalGrille.com | 480.348.1700

Cut around pan sides to loosen cake. Using oven mitts, hold pan bottom over low heat for 15 seconds to release cake. Place platter over pan, hold tightly and invert. Lift off cake pan, peel off parchment and dust top of cake with cocoa powder. Optional garnish: fresh raspberries and raspberry sauce.

2016 Mirabel Club Real Estate Year In Review 2016 turned out to be a pretty fair year for real estate sales in the Mirabel Club. 14 houses were sold during the year ranging in price from $1,185,000 to $2,255,000 with the average sales price per square foot being $373. This compares to 2015 when 10 houses were sold ranging from $1,075,000 to $2,500,000 and an average of $358 per square foot. As has been the case historically, the vast majority of home sales activity for both 2015 and 2016 occurred in the first 6 months of the year with 8 homes selling during that time in 2015 (80%) and 12 homes in 2016 (86%). Homesite sales for 2016 were pretty flat year over year with 9 lots selling ranging from $112,000 - $900,000 versus 9 lots in 2015 ranging in price from $205,000 - $650,000.

MIRABELFeatured FEATURED PROPERTY Mirabel Custom Home Lot 40 | 3 Beds | 3.5 Baths | 4,306 SQFT $1,995,000

JANUARY | FEBRUARY 2017

MIRAB

The Broker’s Corner

Mirabel LIFESTYLE

Color Hues & Cues THE 2017 PALETTE

The year 2017 should be an interesting year for real estate sales now that the divisive election is finally behind us. Based on the optimism about the economy shown in the stock market recently, we could have a break-out year with many buyers having been on the sidelines for some time now waiting for the right time to purchase their “place in the sun.” And homes available inventory will be at nearly an all-time high with 21 currently active in the multiple listing system and several others set to come on the market in the coming month. That compares to only 15 homes on the market for most of 2016.

A larger supply of available homes means more choices for discriminating buyers which will hopefully be good for sales.

As always, if you have any questions about real estate please don’t hesitate to contact me. Or better yet, stop by the gatehouse and say hello. Until next time …

Bob Lomax

Owner/Designated Broker Mirabel Properties

Fabulous new desert contemporary home designed by renowned architect Ron Brissette. Just completed. Floor to ceiling glass is everywhere captivating the majestic Continental Mountain views, city lights and sunsets. Giant corner retracting doors in the great room opens the entire house to the gorgeous backyard and covered patio area. Top of the line appliances, cabinetry, and finishes were selected to complete this home that was not originally intended to be a spec home. Lutron low voltage one touch lighting controls and automated shades are included as well. Who is going to be the lucky one to call it home?

BOB LOMAX

OWNER/DESIGNATED BROKER MIRABEL PROPERTIES

480.595.2545 OFFICE 480.595.9503 FAX 602.920.7192 MOBILE

www.mirabel.com If your home is currently listed, this is not a solicitation for that listing.

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

Market Update

Phoenix Real Estate Outlook

The Capital Grille

Flourless Chocolate Espresso Cake

Custom Mirabel Home Presented By Bob Lomax