Fountain Hills Luxury Lifestyle

Featured Property

9108 N. Shadow Ridge Trail • 5279 Sq. Ft. • 4 Bed | 4.5 Bath • $2,599,000 Designed for the consummate entertainer, this view estate exudes an aura of Old World sophistication combined with a wealth of state-of-the-art luxuries.

Voted ‘Best of Tour’ on Fountain Hills Luxury Home Tour. Grand turreted entry reveals après-dinner cocktail courtyard. Spectacular great room with floor-toceiling telescoping doors creating magnificent indoor/outdoor entertaining space overlooking city lights, mountains, golf course. Sun-kissed kitchen with gorgeous granite, curvaceous island, professional Viking gas range, convenient pocket windows open to buffet bar near BBQ island. Master retreat with lavish bath. Expansive patios, conversation fire-pit, infinity-edge pool. Casita. No rooftops or neighbors nearby. Views include downtown Phoenix, Camelback Mountain, Praying Monk.

TRICKLE-UP RECOVERY

The crash of the housing market was notoriously fast and furious in Metro Phoenix.

The ‘first-in/first out’ surge of activity we see today, marks a lower-end market on fire—the result of the price clock dialed back a decade; the inventory of homes being depleted faster than new listings can replace them; and investors and first-time buyers fiercely competing for what inventory remains.

However, this 30,000-foot-level view misses a landscape of diverse market dynamics that follow from community and price range factors.

For example, while Metro Phoenix first quarter year-over-year sales are down, sales are up in the NE Valley’s resort corridor of Arcadia, Paradise Valley, Scottsdale, Carefree and Fountain Hills.

More specifically, year-over-year sales are down 8% Valley-wide, though not for lack of demand, but lack of inventory–down 40% from a year ago! 58% of current sales are in the distressed category–down 20% from a year ago. There’s only a 2.6-month supply of homes for sale and home prices average $183,000–up 15.5% from last year.

By contrast, when you narrow the focus to Scottsdale, year-over-year sales are up 25%. Home prices average $480,500, and there is a 4.4-month supply. That’s almost a 40% decrease in the month supply, with fewer than 30% distressed sales. Further, prices are up 6.4%.

Looking more broadly to the NE luxury resort corridor, the trend is clear. We are seeing a trickle-up recovery moving to the mid/upper-range homes in the NE Valley, extending up to $2.5 million.

Naturally, as you climb the price-range ladder, the month supply goes up as well.

However, even in Paradise Valley, where the average price is $1.4 million, the month supply is 10 months—down 40% from a year ago.

SELLERS: BEST OPPORTUNITY IN 5 YEARS. BUYERS: BETTER HURRY!

May | June 2012

Fountain Hills Luxury A COLLECTION OF NEWLY LISTED PROPERTIES AND RECENT SALES IN

Address

Subdivision

Sq. Ft. / Bed / Bath / Lot Size List Price

10831 N Pulve Ct 10904 N Arista Ln 9641 N Cirrus Ct 9420 N Crimson Cyn 15823 N Mountain Pkwy 10018 N McDowell View Trl 14 9234 N Fireridge Trl 10 9817 N Rock Ridge Trl 2 9015 N Lava Bluff Trl 12 9325 N Horizon Trl 13 9106 N Vista Verde Ct 8 9833 N Fireridge Trl 6 9229 N Horizon Trl 11 15432 E Firerock CC Dr 9224 N Horizon Trl 16100 E Shooting Star Trl 9615 N. Rock Ridge Trl 9108 N Shadow Ridge Trl 9236 N. Horizon Trl

Crestview Crestview Eagle Mountain Eagle Mountain Eagles Nest Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock

7,770 / 4 / 7 4,001 / 4 / 3 5,730 / 5 / 5 4,829 / 4 / 4.5 6,719 / 6 / 5.5 .71 Acre .50 Acre 1.33 Acres .75 Acre .71 Acre 1.29 Acres 1.51 Acres 1.10 Acres 4,099 / 5 / 5 7,000 / 4 / 5 5,825 / 3 / 3.5 8,210 / 6 / 7 5,279 / 4 / 4.5 5,915 / 4 / 3.5

10742 N Ventura Ct 9814 N Solitude Cyn 15524 E Heavenly Vista Trl 8 9629 N Fireridge Trl 9706 N Four Peaks Way 10224 N Azure Vista Trl 15523 E Firerock CC Dr 15308 E Hidden Springs Trl 15716 E Jackrabbit Ln 13811 N Sunset Dr 16654 E Inca Ave

Crestview Eagle Mountain Firerock Firerock Firerock Firerock Firerock Firerock Sunridge Canyon Sunridge Canyon

3,750 / 4 / 4.5 5,710 / 5 / 6 1.25 Acres 4,679 / 4 / 4.5 6,201 / 4 / 5.5 6,213 / 5 / 6 6,850 / 5 / 6 6,900 / 5 / 5.5 3,691 / 4 / 3.5 5,657 / 4 / 5 5,165 / 4 / 4.5

$1,250,000 $1,995,000 $239,900 $1,025,000 $1,060,500 $1,150,000 $1,399,000 $1,495,000 $949,999 $1,245,000 $899,000

.87 Acre .68 Acre .98 Acre .78 Acre 5.13 Acres 3,541 / 3 / 4 5,574 / 5 / 5.5 4,490 / 4 / 4.5 6,182 / 4 / 5.5 7,068 / 5 / 5.5

Sold Price $101,000 $150,000 $160,000 $374,500 $600,000 $1,050,000 $1,130,000 $1,320,000 $1,325,000 $1,700,000

ACTIVE LISTINGS

PENDING SALES

SOLD

SUSAN PELLEGRINI ACCESS LINE:

480.315.1575 877.276.1071 TOLL FREE Susan@Pellegrini.com

WWW.PELLEGRINI.COM

116108 E Star Gaze Trl 10 9205 N Lava Bluff Trl 8 10007 N McDowell View Trl 27 15419 E Firerock CC Dr 1 10106 N Canyon View Ln 36 9529 N Four Peaks Way 9640 N Rock Ridge Trl 9105 N Shadow Ridge Trl 9145 N Lava Bluff Trl 9647 N Fireridge Trl

Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock

$1,495,000 $1,689,000 $1,599,000 $1,795,000 $2,650,000 $99,500 $175,000 $189,900 $225,000 $239,000 $240,000 $389,000 $399,000 $1,399,000 $1,599,000 $1,699,000 $1,999,000 $2,599,000 $2,700,000

Listings in bold/blue signify The Pellegrini Group’s involvement in the listing or sale.

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 • www.DesertLifestyle.net

ISSN-1939-9529

Stylizing

the Heart of the Home

A Housing Shortage In The Valley?

Demand is Up, Supply is Low

Perfect Poolside Fare

Fountain Hills Real Estate Report

Windsor’s Mixed-Grain Salad

In Good Taste

Event Calendar

Featuring Windsor 602.279.1111 | WindsorAZ.com

MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!

MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey

Does your kitchen need an upgrade?

Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes.

When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.”

Appliances are now not only energy efficient, but are often multi-functional.

For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens

Combine orange zest and juice, shallots, vinegar and honey in a blender.

With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt.

FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon.

FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut

1 cup cooked barley

Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix.

FOR THE ROASTED BEETS: 1 bunch baby beets

1 Tbs. red or white wine vinegar (optional)

Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters.

TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish.

Servings: 6 to 8

and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement.

Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials.

“Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.”

Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.

The style of the cabinets will help set the stage for the personality of the kitchen.

Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space.

Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color

and character that backsplashes will bring to the kitchen is a key focal point.

“Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.”

Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”

HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way.

The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes.

However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency.

With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0

and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven.

Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement.

Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.

By: Mike Orr, The Cromford Report

It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.

Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention.

Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks!

Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits.

Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.

In Good Taste

Event Calendar

Featuring Windsor 602.279.1111 | WindsorAZ.com

MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!

MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey

Does your kitchen need an upgrade?

Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes.

When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.”

Appliances are now not only energy efficient, but are often multi-functional.

For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens

Combine orange zest and juice, shallots, vinegar and honey in a blender.

With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt.

FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon.

FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut

1 cup cooked barley

Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix.

FOR THE ROASTED BEETS: 1 bunch baby beets

1 Tbs. red or white wine vinegar (optional)

Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters.

TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish.

Servings: 6 to 8

and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement.

Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials.

“Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.”

Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.

The style of the cabinets will help set the stage for the personality of the kitchen.

Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space.

Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color

and character that backsplashes will bring to the kitchen is a key focal point.

“Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.”

Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”

HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way.

The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes.

However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency.

With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0

and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven.

Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement.

Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.

By: Mike Orr, The Cromford Report

It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.

Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention.

Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks!

Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits.

Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.

Featured Property

9108 N. Shadow Ridge Trail • 5279 Sq. Ft. • 4 Bed | 4.5 Bath • $2,599,000 Designed for the consummate entertainer, this view estate exudes an aura of Old World sophistication combined with a wealth of state-of-the-art luxuries.

Voted ‘Best of Tour’ on Fountain Hills Luxury Home Tour. Grand turreted entry reveals après-dinner cocktail courtyard. Spectacular great room with floor-toceiling telescoping doors creating magnificent indoor/outdoor entertaining space overlooking city lights, mountains, golf course. Sun-kissed kitchen with gorgeous granite, curvaceous island, professional Viking gas range, convenient pocket windows open to buffet bar near BBQ island. Master retreat with lavish bath. Expansive patios, conversation fire-pit, infinity-edge pool. Casita. No rooftops or neighbors nearby. Views include downtown Phoenix, Camelback Mountain, Praying Monk.

TRICKLE-UP RECOVERY

The crash of the housing market was notoriously fast and furious in Metro Phoenix.

The ‘first-in/first out’ surge of activity we see today, marks a lower-end market on fire—the result of the price clock dialed back a decade; the inventory of homes being depleted faster than new listings can replace them; and investors and first-time buyers fiercely competing for what inventory remains.

However, this 30,000-foot-level view misses a landscape of diverse market dynamics that follow from community and price range factors.

For example, while Metro Phoenix first quarter year-over-year sales are down, sales are up in the NE Valley’s resort corridor of Arcadia, Paradise Valley, Scottsdale, Carefree and Fountain Hills.

More specifically, year-over-year sales are down 8% Valley-wide, though not for lack of demand, but lack of inventory–down 40% from a year ago! 58% of current sales are in the distressed category–down 20% from a year ago. There’s only a 2.6-month supply of homes for sale and home prices average $183,000–up 15.5% from last year.

By contrast, when you narrow the focus to Scottsdale, year-over-year sales are up 25%. Home prices average $480,500, and there is a 4.4-month supply. That’s almost a 40% decrease in the month supply, with fewer than 30% distressed sales. Further, prices are up 6.4%.

Looking more broadly to the NE luxury resort corridor, the trend is clear. We are seeing a trickle-up recovery moving to the mid/upper-range homes in the NE Valley, extending up to $2.5 million.

Naturally, as you climb the price-range ladder, the month supply goes up as well.

However, even in Paradise Valley, where the average price is $1.4 million, the month supply is 10 months—down 40% from a year ago.

SELLERS: BEST OPPORTUNITY IN 5 YEARS. BUYERS: BETTER HURRY!

May | June 2012

Fountain Hills Luxury A COLLECTION OF NEWLY LISTED PROPERTIES AND RECENT SALES IN

Address

Subdivision

Sq. Ft. / Bed / Bath / Lot Size List Price

10831 N Pulve Ct 10904 N Arista Ln 9641 N Cirrus Ct 9420 N Crimson Cyn 15823 N Mountain Pkwy 10018 N McDowell View Trl 14 9234 N Fireridge Trl 10 9817 N Rock Ridge Trl 2 9015 N Lava Bluff Trl 12 9325 N Horizon Trl 13 9106 N Vista Verde Ct 8 9833 N Fireridge Trl 6 9229 N Horizon Trl 11 15432 E Firerock CC Dr 9224 N Horizon Trl 16100 E Shooting Star Trl 9615 N. Rock Ridge Trl 9108 N Shadow Ridge Trl 9236 N. Horizon Trl

Crestview Crestview Eagle Mountain Eagle Mountain Eagles Nest Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock

7,770 / 4 / 7 4,001 / 4 / 3 5,730 / 5 / 5 4,829 / 4 / 4.5 6,719 / 6 / 5.5 .71 Acre .50 Acre 1.33 Acres .75 Acre .71 Acre 1.29 Acres 1.51 Acres 1.10 Acres 4,099 / 5 / 5 7,000 / 4 / 5 5,825 / 3 / 3.5 8,210 / 6 / 7 5,279 / 4 / 4.5 5,915 / 4 / 3.5

10742 N Ventura Ct 9814 N Solitude Cyn 15524 E Heavenly Vista Trl 8 9629 N Fireridge Trl 9706 N Four Peaks Way 10224 N Azure Vista Trl 15523 E Firerock CC Dr 15308 E Hidden Springs Trl 15716 E Jackrabbit Ln 13811 N Sunset Dr 16654 E Inca Ave

Crestview Eagle Mountain Firerock Firerock Firerock Firerock Firerock Firerock Sunridge Canyon Sunridge Canyon

3,750 / 4 / 4.5 5,710 / 5 / 6 1.25 Acres 4,679 / 4 / 4.5 6,201 / 4 / 5.5 6,213 / 5 / 6 6,850 / 5 / 6 6,900 / 5 / 5.5 3,691 / 4 / 3.5 5,657 / 4 / 5 5,165 / 4 / 4.5

$1,250,000 $1,995,000 $239,900 $1,025,000 $1,060,500 $1,150,000 $1,399,000 $1,495,000 $949,999 $1,245,000 $899,000

.87 Acre .68 Acre .98 Acre .78 Acre 5.13 Acres 3,541 / 3 / 4 5,574 / 5 / 5.5 4,490 / 4 / 4.5 6,182 / 4 / 5.5 7,068 / 5 / 5.5

Sold Price $101,000 $150,000 $160,000 $374,500 $600,000 $1,050,000 $1,130,000 $1,320,000 $1,325,000 $1,700,000

ACTIVE LISTINGS

PENDING SALES

SOLD

SUSAN PELLEGRINI ACCESS LINE:

480.315.1575 877.276.1071 TOLL FREE Susan@Pellegrini.com

WWW.PELLEGRINI.COM

116108 E Star Gaze Trl 10 9205 N Lava Bluff Trl 8 10007 N McDowell View Trl 27 15419 E Firerock CC Dr 1 10106 N Canyon View Ln 36 9529 N Four Peaks Way 9640 N Rock Ridge Trl 9105 N Shadow Ridge Trl 9145 N Lava Bluff Trl 9647 N Fireridge Trl

Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock Firerock

$1,495,000 $1,689,000 $1,599,000 $1,795,000 $2,650,000 $99,500 $175,000 $189,900 $225,000 $239,000 $240,000 $389,000 $399,000 $1,399,000 $1,599,000 $1,699,000 $1,999,000 $2,599,000 $2,700,000

Listings in bold/blue signify The Pellegrini Group’s involvement in the listing or sale.

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 • www.DesertLifestyle.net

ISSN-1939-9529

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