Estancia August 09

CALL TOM - YOUR INVESTMENT WILL BE GLAD YOU DID For three consecutive years (2006, 2007 and 2008), Tom Locati has made The Wall Street Journal’s list of top 50 Realtors® in the United States, by sales volume.

In addition, during the same three years, he has been ranked as the #1 agent at Russ Lyon | Sotheby’s International Realty.

That’s impressive.

But what’s equally impressive, Tom lists and sells nearly $300 million dollars of North Scottsdale luxury real estate each year and is the only Realtor® from Arizona to make the Journal’s ultra-elite list.

Tom is one of the country’s leading luxury real estate professionals, representing a wealth of fine properties and affluent clients who rely on his discretion, experience, investment acumen and intimate knowledge of the Scottsdale real estate market.

“I generally work with a small segment of society often looking for a second, third or fourth home. My job is to empower you (my client) through knowledgeable, reliable real estate information firmly grounded in ethical and moral real estate transactions; thus, providing a comfort level essential in allowing you to make an informed financial decision.”

Tom believes the luxury real estate business is ultimately wrapped around two primary concepts. “First, you have to have a sound understanding of how money and real estate investments work. In fact, acquiring the perfect property is foremost a matter of finding a wise investment and coupling that with a client’s personal tastes and desires. However, it’s equally important that I am able to create a comfort level for the investor/client based not only on market knowledge, but on expert guidance with proven results.” This is what puts Tom at the top of the real estate profession year after year.

“If a professional business approach to real estate acquisition is what you seek, call me - Your Investment will be glad you did. I look forward to visiting with you!”

Russ Lyon | Sotheby’s International Realty 20909 N. 90th Pl. #209 Scottsdale, AZ 85255 Office: 480.585.7070 • Fax: 480.419.6931 tomlocati@me.com • www.tlocati.com

TOM LOCATI

DEBBIE NEGRIN

Direct: 480.600.2345

Direct: 480.734.3498

Tom Locati Russ Lyon | Sotheby’s International Realty 20909 N. 90th Pl. #209 Scottsdale, AZ 85255 FORWARDING SERVICE REQUESTED

August 2009

CURRENT REAL ESTATE ACTIVITY IN FEATURED PROPERTY: 9709 E. Bajada Rd. • Lot 45• 4 Bed / 4 Bath • 5,342 Sq. Ft. • $2,695,000 BEAUTIFUL SOUTHWEST DESIGN REDUCED $1,300,000 off original list price! ! ! This 5,300+ sf home is located on the 6th hole of the world-renowned Estancia Golf Course and is a true Lee Hutchinson master design. Home offers one of the finest locations in North Scottsdale looking directly up the 6th fairway to the green under the immediate backdrop of Pinnacle Peak & city light views to the southwest. It does not get better than this. It must be seen to be appreciated & is truly the best value available in Estancia today. Four large bedrooms with individual bathrooms, media room & office make this floor plan sing with functionality. The home is available furnished & ready for immediate occupancy.

Address CURRENTLY FOR SALE: 28095 N. 101st St. 10009 E. Blue Sky Dr. 10036 E. Blue Sky Dr. 28092 N. 101st St. 27441 N. 96th Way 27962 N. 100th Pl. 28046 N. 96th Pl. 27939 N. 100th Pl. 28034 N. 100th Pl. 27336 N. 103rd Way 9761 E. Pinnacle Vista Dr. 9709 E. Bajada Rd. 9892 E. Blue Sky Dr. 26942 N. 103rd St. 28111 N. 96th Pl. 27264 N. 103rd Way 26945 N. 102nd St. 27086 N. 103rd St. 27184 N. 97th Pl. 27226 N. 96th Way 9720 E. Estancia Way 27016 N. 102nd St. 27473 N. 97th Pl. 27550 N. 96th Way 27341 N. 102nd St.

Lot #

Sq. Ft. / Bed / Bath

122 100 112 117 73 96 20 105 99 210 36 45 76 181 3 209 240 185 64 50 29 260 33 57 270

2800 / 3 / 3 3450 / 3 / 3 2800 / 3 / 3 2455 / 3 / 3 3566 / 3 / 3 5360 / 4 / 4 3722 / 2 / 2.5 4590 / 3 / 3.5 4450 / 3 / 3.5 5100 / 3 / 3.5 4591 / 3 / 2.5 5342 / 4 / 4 7000 / 5 / 5.5 6240 / 4 / 5.5 4484 / 4 / 4.5 5665 / 5 / 4.5 4187 / 3 / 3 5047 / 3 / 3.5 7587 / 4 / 7 5719 / 4 / 4.5 6544 / 4 / 4.5 7485 / 5 / 5.5 6850 / 4 / 4.5 7160 / 5 / 7 14231 / 8 / 11

$410 $352 $475 $570 $498 $372 $536 $435 $494 $480 $545 $504 $398 $465 $658 $521 $740 $692 $527 $768 $760 $694 $817 $831 $1054

$1,150,000 $1,215,000 $1,329,000 $1,400,000 $1,775,000 $1,995,000 $1,995,000 $1,995,000 $2,200,000 $2,450,000 $2,500,000 $2,695,000 $2,785,000 $2,899,000 $2,950,000 $2,950,000 $3,100,000 $3,495,000 $3,995,000 $4,395,000 $4,975,000 $5,195,000 $5,595,000 $5,950,000 $15,000,000

6

5336 / 3 / 4.5

$282

$1,502,820

SOLD: 9672 E. Oberlin Way 12 5382 / 3 / 3.5 $409

SOLD PRICE $2,200,000

PENDING: 28047 N. 96th Pl.

Price Per SF

List Price

All information is deemed reliable but not guaranteed.

The properties on this list have been listed/sold by various participants in the MLS.

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

Produced by Desert Lifestyle Publishing • 480.460.0996

ISSN-1939-9650

Beat the Heat!

Refreshing Warm Weather Wines

1031 Exchange to a Primary Residence Is it Legal?

Asian-Inspired Seafood

Stingray Sushi’s Lobster Ceviche

Estancia’s

Hot Real Estate Listings

Ahh, the dog days of summer. You’ve just spent a long day in the sun or are stuck in traffic on your way home from work with the air conditioning wearing thin. What would tingle your taste buds and elevate your spirits?

Hot weather doesn’t have to lead to iced tea, beer or fancy cocktails. An easy-sipping, preferably chilled, glass of wine is just what the desert-survival doctor ordered. The consensus among wine connoisseurs is that light wines with a touch of sweetness and effervescence best offset the heat. Poolside, Mark Tarbell of Tarbell’s Restaurant in Phoenix serves his friends Nivole Moscato d’Asti… frozen.

Clever!

For those dedicated red wine drinkers, Tarbell suggests a chilled Coldstream Hills Pinot Noir. When it hits triple digits he likes, “a chilled, well-made Rose like the Rosato di Sangiovese from Iron Horse or Chateau de Pibarnon,” and serves them with salumi, an antipasto of Italian-style cured meats.

Featuring Stingray Sushi 4302 N. Scottsdale Rd. • Scottsdale 480.941.4460 or stingraysushi.com

LOBSTER CEVICHE WITH BUTTER LETTUCE Lobster Mix Ingredients: 3 oz. lobster, chunked 1 Tbs. mango, chunked

SUMMERTIME AND THE LIVIN’S GETTIN’ EASIER Summertime conjures up the idea of relaxing and celebrating. What better way than with sparkling wine (aka Champagne). Save on the expense of a premium Champagne and mix a bit of sweetness with an inexpensive brand. Try these refreshing beverages: • Classic Champagne Cocktail – Soak a sugar cube in bitters, then pour Champagne over cube and add a twist of lemon.

• Mimosa – Mix 1:5 of freshly squeezed orange juice to Champagne and add a touch of Triple Sec. • Bellini – Mix 1:4 of peach syrup to Prosecco and garnish with ripe peach slices.

• Kir Royale – Add a dash of Crème de Cassis to any Champagne.

1 Tbs. red onion, diced 1 Tbs. cilantro & jalepeno, minced 1 Tbs. avocado, chunked 1-1.5 oz. soy citrus sauce 6 butter lettuce cups Procedure: Combine first six ingredients in mixing bowl and mix well. Place approximately 1 oz. mix per butter lettuce cup.

Jeff Jones from Bacchus Wine Made Simple at Kierland Commons recommends a Prosecco, Il Mionetto (the Italian version of Champagne). The bottle in itself is fun – a bowling pin shape with a beer cap closure. Trader Joe’s Summer Guide 2009 suggests their Louise d’ Estree brut sparkling wine, a blend they recommend pairing with a baguette, strawberries and some French brie.

Not in the mood for bubbles? Go for a Riesling and serve with salad and fish. Food & Wine magazine’s August pick is the 2007 Dr. Loosen Riesling Kabinett Bernkasteler Lay. Tarbell agrees with the Dr. Loosen choice and also likes anything from the Terry Thiese selections.

Sauce Ingredients: 1/4 part yuzu (Japanese citrus juice) 1 part ponzu (Japanese sauce) 1/2 part soy sauce (lite) Procedure:

“LIFE IS TOO SHORT TO DRINK CHEAP WINE” Luckily you don’t have to spend a lot to drink good wine.

In June, Whole Foods revealed their favorite summer wines for less than $9. Check some out and find a new favorite!

1. Presto Prosecco 2. Rudolf Muller “Bunny” Riesling 3. Biokult Gruner Veltliner 4. Vinum Chenin Blanc/Viognier 5. V-Solo Verdejo 6. Manifesto! Sauvignon Blanc 7. Bonterra Rose 8. Escudo Rojo 9. Pirovano il Rosso di Enzo 10. Rutherford Hill Merlot 11. Penfolds Koonunga Hill Shiraz Cabernet 12. Castello di Gabbiano Chianti They suggest cheese with all the wines and recommend an Aged Hirtenkase with risotto, soup and salad, a Fromager D’Affinois with berries and summer fruits, a GranQueso with soup and sandwiches, a Robusto with pasta and roasted veggies, and a Seaside Cheddar with grilled burgers and beef sandwiches. Now you know what to eat this summer too!

Brand Yourself Be your own vintner at Casavino Custom Winery.

Pick your favorite wine, start fermentation of a batch (28 bottles) and about six weeks later your customdesigned label goes on the bottles. No grape stomping necessary! Starting at $279 inclusive of all materials and consulting experience, all you have to do is have fun. It’s a great idea for a party or corporate event. If you can’t find something you like from the 22 in-stock varietals from seven regions around the world, Casavino can special order more than 250 different wines.

12005 N. Saguaro Blvd. Suite 101 Fountain Hills, AZ 85268 Phone 480.816.VINO or casavinowinery.com

Combine all ingredients and mix well. Drizzle over assembled lettuce cup. Add caviar and lobster claw as garnish if desired. Serve chilled.

As most real estate investors are aware, the IRS Code 1031 allows for the exchange of investment property to defer the capital gain tax and preserve their equity. In lieu of an actual “sale”, the 1031 exchange allows you to relinquish and acquire property through the use of a third party intermediary. A “Qualified Intermediary” such as IPX 1031 in Phoenix is one such company that specializes in real estate exchanges.

When exchanging property, there are several guidelines and restrictions that must be met. David Tornell, Account Executive and Certified Exchange Specialist at IPX 1031, explains. “One of which is that the property you’re exchanging must be classified as an investment. Your personal residence or personal use property, such as a second home, does not qualify. Likewise, the property you are acquiring must also be an investment property.”

However, there is great news for property owners that want to exchange their investment properties for a personal residence! In fact,

many investors hold multiple properties and have earned quite a bit of equity. It’s those property owners that might be thrilled to learn that they can finally exchange those for the home of their dreams!

“While you cannot exchange from an investment property into a primary or personal use property, an investor can exchange into a property that they can then convert into their primary residence,” Tornell explains. Known as Revenue Procedure 2008-16, the IRS has made this process simple, easy and perfectly legal! As you can imagine, the IRS has created some rules and restrictions. Here is a simple explanation of how it works: 1. Property owner sells their investment property and buys a primary residence through a 1031 exchange.

2. After the exchange, the property must be rented for at least 14 days during each of the two years after the exchange. There is no guideline that states that it can’t be rented to trusted friends. Family members, however, do not qualify.

Jazz Attack Celebrity Theatre, Aug. 7th 602.267.1600 or celebritytheatre.com If jazz is your passion, Jazz Attack is right up your alley.

These three jazz connoisseurs, Rich Braun, Jonathan Butler and Richard Elliot, join forces to bring you a sensational show. Their unique styles of eclectic and smooth jazz combine to make quite a musical experience.

Spiked Desert Botanical Garden, Aug. 13th 480.941.1225 or dbg.org It’s a summer vacation, without having to go far from home. Spiked brings you a different beach destination each month this summer, with August’s beach theme as Arctic Beach. For your entertainment, DJs D.K. Strickler and Rani G. will be spinning the hits all evening long. Dance your way over to the bar and try the delicious cocktail showcased for the evening, the Mudslide!

Eddie Griffin Tempe Improv, Aug. 14th-15th 480.921.9877 or tempeimprov.com You may have seen Eddie in one of his many comedic and dramatic movie rules such as Date Movie, John Q. and Armageddon. Now here is your chance to see his live comedy that started it all. His quick wit and hilarious topics will keep you laughing through the entire show. You don’t want to miss this special appearance.

Arizona Opera Film Series: La Boheme Phoenix Art Museum, Aug. 23rd 602.257.1222 or phxart.org The Arizona Opera is teaming up with the Phoenix Art Museum this summer to bring you three great films that directly relate to their 09-10 opera season.

La Boheme is the tale of 19th century bohemians who are rich in life and friendship, but poor on funds. The love between poet Rodolfo and seamstress Mimi is captivating! This famous opera is what inspired the ever popular musical Rent.

Celebrity Waiter Night Morton’s, Aug. 24th 480.951.4440 or mortons.com What a dream come true for all you sports fans. Not only will you get the opportunity to meet some of the Arizona Cardinals such as Kurt Warner and Larry Fitzgerald, but they will be serving your dinner too!

Guests will enjoy a cocktail reception with silent auction followed by a fabulous four-course meal. This wonderful evening is in support of the Carol Fitzgerald Memorial Fund, Larry Fitzgerald’s personal charity. This program raises money for urban education, breast cancer and HIV/AIDS awareness.

3. For the first two years, the property owner can not reside in it for more than 14 days each year.

4. After that, the property is theirs to use as they like!

As an added benefit, they can sell their former primary residence and use their Home Gain Exclusion (up to $500,000 for a married couple) to pay off the loan on their “dream home.”

“Beginning the 1031 exchange process is simple,” Tornell says.

“Inform your Realtor that you want to do a 1031 exchange. They will make sure the correct language is in the contract. When you open escrow, give your Qualified Intermediary such as IPX 1031 a call. In a matter of minutes, they will coordinate with escrow and make sure the exchange agreement is in place prior to close of escrow.”

AUGUST 2009

Understanding the tax benefits available to real estate investors gives a new understanding of how powerful real estate holdings can be in your wealth portfolio. For more information and details on building your real estate portfolio, contact your Realtor.

Arizona Cardinals vs. Green Bay Packers University of Phoenix Stadium, Aug. 28th 623.433.7100 or azcardinals.com Can’t get enough of our Cardinals? Get a sneak peak at the 2009-2010 team during their pre-season games. Check out the newcomers and the veterans and see if they have what it takes to make it all the way to the Super Bowl again! If you have not been to the University of Phoenix stadium before, this is a great time to. The stadium is a state-of-the-art facility with two large retractable panels for the roof and over 63,000 seats. Go Cards!