McDowell Mountain Ranch Lifestyle

McDowell Mountain Ranch

November | December 2013

8665 E Hartford Drive, Suite 105, Scottsdale, AZ 85255

• She has 15 years of invaluable mortgage lending experience • Licensed in both Arizona and California • Works with the area’s Top Real Estate Professionals • Loan closings in 30 days or less • McDowell Mountain Ranch Homeowner and Resident • Founding member of the Cardon Children’s Medical Center and Banner Health Foundation Star’s of the Season Advisory Council • 2012 Affiliate Member of the Year, Scottsdale Women’s Council of REALTORS • 2013 Treasurer for Scottsdale Women’s Council of REALTORS

For a mortgage analysis call Angelica:

602.345.7403

Your Premier McDowell Mountain Ranch Mortgage Lender committed to creating customers for life

ANGELICA J. FRANCO Sales Manager NMLS# 298954 Office: 602.345.7403 Cell: 707.529.9410 Email: AFranco@PrimeRes.com Facebook: www.Facebook.com/ AngelicaFrancoHomeLoans

FHA Streamline 203k An attractive option for borrowers who:

• Would like to avoid having to use personal funds or obtain a 2nd mortgage for repairs, renovations and improvements.

• Want to improve their home and neighborhood.

• Want only one loan, with one closing.

FHA 203(k) Provides Cost-Effective, Single Close Loan that Enables Borrowers to Purchase a Home that May Need Repairs or Remodeling. When you offer the STREAMLINED 203(k) limited repair program, borrowers can finance a maximum of $30,000 into their mortgage to make improvements. The program includes the necessary funds for the renovation by financing the “as-completed” value of the home, rather than the present value. FHA 203(k) can help you expand your market reach by providing a value added niche product to qualified borrowers who need to renovate or repair their home, or have repair contingencies on a home they wish to purchase.

• Are looking for a cost effective way to renovate, repair or improve an existing home.

• Would like to rehabilitate a foreclosure that has been neglected or damaged by an occupant.

Call Angelica today at 602.345.7403 to secure a loan to remodel your kitchen and get ready for the holidays.

Summary of Current Real Estate Activity in Mc Dowell Mountain Ranch Since September 1, 2013 Active

Under Contract/ Backups

Pending

Closed

Overall

# Listings

50

7

10

33

100

List/Sold Volume

$36,847,300

$4,142,000

$6,434,700

$22,161,850

$22,161,850

List/Sold Low $250,000 Price Avg $736,946 High $3,495,000

$358,000 $591,714 $850,000

$349,900 $643,470 $895,000

$340,000 $671,571 $1,397,000

$250,000 $701,758 $3,495,000

Approx SF Low 1,338

Avg 2,865

High 6,555

1,622 2,586 3,297

1,622 2,728 3,604

1,338 2,797 6,555

1,451 2,760 4,425

List/Sold Low $169.83 Price Per Avg $238.16 Approx SF High $556.44

$178.91 $228.80 $301.03

$187.62 $232.19 $295.28

$173.80 $237.07 $357.43

$169.83 $238.70 $556.44

Days on Low 1 Market Avg 70

High 242

4 55 125

0 50 192

2 53 266

0 61 266

Programs, rates, terms and fees are subject to change without notice.

NMLS# 3094, NMLS# 155389 Licensed by the Arizona Department of Financial Institutions, AZ BK# 0902614

www.ArizonaLoanPros.com

All information is deemed reliable but not guaranteed.

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

Holiday Traditions

Creating A Season To Remember

Cover Photography | High Res Media LLC

Angelica has been a leader in the mortgage industry for over 15 years.

She was born in Sonoma CA, moved to Arizona in 2003 and became a proud McDowell Mountain Ranch home owner in 2005. As a Senior Loan Officer and Sales Manager for one of the top 10 Primary Residential Mortgage branches in the country, she embodies a level of passion and perfection that is valued by clients and colleagues alike.

If you are looking to purchase a home or refinance, work with someone that is educated, dedicated, client focused and has a personal investment in the community you live in:

Housing Market 2013

A Return To More Normal Conditions

Festive Flavors for Fall Roaring Fork’s Decadent Wood Fired Duck

McDowell Mountain Ranch

Real Estate Report

In Good Taste

Event Calendar

Roaring Fork 480.947.0795 | RoaringFork.com

N OVEMBER | DECEMBER 2013 The holidays are almost here! Why not make this the year you create winter memories that will last a lifetime?

Whether you celebrate Christmas, Hanukah, or Kwanzaa, holiday traditions will help you build family time that will be cherished for years to come. Here are a few festive ways to make this winter season one to remember.

First, make your home magical. Whether it’s placing your tree or menorah in the same special spot year after year or creating an ornament theme that grows and grows each Christmas, building rituals into your holidays will make them truly unique. A few more decorating ideas to consider: Hang elegant stockings

CURED DUCK TOPPED WITH ONION JAM & SOUR CHERRY MUSTARD DUCK PREPARATION: Wood fire half a duck and grill to medium.

INGREDIENTS: Duck Onion Jam 1 yellow onion diced 2 tbsp mustard seeds 6 oz rice wine vinegar 1/2 c of sugar 1 tbsp salt 1 tbsp white pepper PREPARATION: Cook vinegars and sugar to dissolve sugar. Add remaining ingredients and reduce by half over moderate heat. Allow jam to cool at room temperature.

Sour Cherry Mustard 2 shallots, finely chopped 1 tbsp minced garlic 8 oz red wine 2 c sour cherries, chopped 2 sprigs of thyme 1 tbsp creole mustard 1 pt duck demi-glaze Salt and pepper to taste PREPARATION: Sweat vegetables. Deglaze vegetables with red wine and add stock. Finish with herbs then salt and pepper to taste.

Top the wood fired duck with the onion jam and sour cherry mustard.

for Santa to fill, each embellished with your children’s names; get a second children’s Christmas tree that only the little ones can trim; don your staircase and mantle with evergreens and all-white candles; and don’t forget to hang mistletoe or a kissing ball for lovebirds who pay you a visit.

The exterior of your home should not be forgotten either. Get into the holiday spirit by lighting up a few spectacular trees in your yard or highlighting some of the unique architectural aspects of your house. Each year, your family and neighbors will look forward to your light extravaganza. Need inspiration? Head to the zoo to see its dazzling display of holiday lights.

Looking for a way to appreciate all the holiday lights in your own neighborhood? Try the old tradition of caroling from house to house. Gather your friends and family, pass out some festive sheet music, and don’t forget your holiday cheer. Best part about caroling? You can make it a White Christmas simply singing the song

by Bing Crosby, even if the weather

does not wish to participate.

Finally, there’s no better place to build holiday traditions than in the kitchen. After all, nothing says the holidays better than warm

gingerbread cookies and hot cocoa. Make the winter holidays special for the little ones by making homemade holiday cookies and treats (maybe even start up an annual cookie swap for friends and neighbors).

The kids or grandkids will really enjoy building a beautiful gingerbread house and will look forward to this event year after year. Create a photo album of your gingerbread houses through the years as a special memento.

While you’re in the kitchen, why not plan a holiday dinner that every member of the family will look forward to year after year? Forego the normal roasts and casseroles and prepare your partner or child’s favorite meal instead, even if it’s a nontraditional choice. Voila … instant family tradition. And don’t forget to whip up a signature seasonal cup of cheer – think cranberries, cinnamon, and spice. Happy holidays!

Housing Market Review BY MIKE ORR

It is now almost two and a half years since the Greater Phoenix housing market hit its lowest monthly median sales price of $117,000 in April 2011.

Since then the monthly median sales price for single family homes in Maricopa County has recovered sharply, reaching $204,250 as of August 2013. That 75% jump indicates just how much the market has changed, but it still has another 41% to grow before attaining the previous high of $287,990 reached in June 2006.

The market has changed in content too. Back in April 2011 the majority (64%) of the market consisted of distressed properties including homes sold at trustee sales, bank owned properties, HUD homes and short sales.

In August 2013 these distressed properties were only 18% of sales and the majority of transactions are now between normal sellers and buyers.

Distressed properties often sell at discounts of 25% or more, so as they disappear this has a large effect on the

median sales price. If we look exclusively at normal transactions, median sales prices have increased by a more modest 17% from $180,000 in April 2011 to $210,000 in August 2013.

Without a large number of foreclosures, buyers have outnumbered sellers for quite some time, although from $200,000 upwards that situation is now easing. More homeowners now have equity and are free to sell their home without needing permission from their lender. Higher prices have led to weaker enthusiasm from investors and their purchases have fallen from almost 40% of the market last summer to just under 24% in August this year. Out-ofstate buyers also have lower interest in Greater Phoenix now that we are no longer offering attractive homes at bargain basement prices.

New home builders are slowly ramping up production in areas such as the Southeast and Northwest Valleys, but are still at completion levels that are less than half the monthly rate of the

late 1990s. Constraints on affordable land and construction labor mean they are unlikely to be able to increase the number of homes fast enough to keep pace with populations growth. However household formation remains subdued due to the weak job recovery.

The luxury market has been stimulated by lenders making jumbo loans more available as well as offering more attractive terms. Some have lower rates for jumbo loans than conventional loans which is a very unusual situation.

All these factors are combining to cause the market to return to more normal conditions and the balance between buyer and seller slightly less favorable to sellers than it has been over the last two years. In contrast buyers have much more choice and a little more bargaining power.

Author and statistician Mike Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business.

The West Select | A New Western Classic Phoenix Art Museum | November 10-December 31 602.257.1222 | TheWestSelect.com The West Select is a Western invitational art sale and exhibition. Featuring paintings, drawings, sculptures, and photographs the works in exhibition reveal iconic landscapes, wildlife, and depictions of the modern or “New West”. Proceeds benefit the Men’s Arts Council of Phoenix Art Museum, a non-profit organization that supports the programs and activities of Phoenix Art Museum through unique events.

Ocean Prime 5th Year Anniversary Week Ocean Prime | November 11-17 480.347.1313 | OceanPrimePhoenix.com Ocean Prime Celebrates its 5th anniversary by offering guests a special five-course menu in addition to the regular dinner menu. Designed by executive chef Jagger Griffen, the anniversary menu features several of Ocean Prime’s most popular dishes and includes a glass of Prosecco with dessert.

White Christmas Phoenix Theatre | November 20-December 24 602.254.2151 | PhoenixTheatre.com Celebrate the holidays with this true Irving Berlin classic! White Christmas is a great musical theatre story of the two World War II veterans with a successful song-and-dance act. With love on their minds, they meet up with a duo of beautiful singing and dancing sisters en route to their Christmas show at a Vermont lodge, which happens to be owned by their former army commander.

The Nutcracker Symphony Hall | December 6-24 602.381.1096 | BalletAZ.org A holiday celebration to share! Dancing toys, mischievous mice, waltzing flowers and sparkling snowflakes dance to Tchaikovsky’s sumptuous score performed by The Phoenix Symphony. This holiday classic tells the story of Clara and her magical Nutcracker Prince as they embark on a thrilling adventure. Each year Ballet Arizona rings in the season with Ib Andersen’s The Nutcracker, creating memories to cherish forever.

A Holiday Jazz Celebration with Marty Ashby Musical Instrument Museum | December 21 480.478.6000 | TheMIM.org Marty Ashby will present a Holiday Jazz Celebration, this time with a full seventeen-piece big band! The evening will feature new arrangements of some holiday favorites as well as a few special twists and surprises. This year’s featured guest is trumpet master Sean Jones, one of the hottest musicians on the jazz scene today.

In Good Taste

Event Calendar

Roaring Fork 480.947.0795 | RoaringFork.com

N OVEMBER | DECEMBER 2013 The holidays are almost here! Why not make this the year you create winter memories that will last a lifetime?

Whether you celebrate Christmas, Hanukah, or Kwanzaa, holiday traditions will help you build family time that will be cherished for years to come. Here are a few festive ways to make this winter season one to remember.

First, make your home magical. Whether it’s placing your tree or menorah in the same special spot year after year or creating an ornament theme that grows and grows each Christmas, building rituals into your holidays will make them truly unique. A few more decorating ideas to consider: Hang elegant stockings

CURED DUCK TOPPED WITH ONION JAM & SOUR CHERRY MUSTARD DUCK PREPARATION: Wood fire half a duck and grill to medium.

INGREDIENTS: Duck Onion Jam 1 yellow onion diced 2 tbsp mustard seeds 6 oz rice wine vinegar 1/2 c of sugar 1 tbsp salt 1 tbsp white pepper PREPARATION: Cook vinegars and sugar to dissolve sugar. Add remaining ingredients and reduce by half over moderate heat. Allow jam to cool at room temperature.

Sour Cherry Mustard 2 shallots, finely chopped 1 tbsp minced garlic 8 oz red wine 2 c sour cherries, chopped 2 sprigs of thyme 1 tbsp creole mustard 1 pt duck demi-glaze Salt and pepper to taste PREPARATION: Sweat vegetables. Deglaze vegetables with red wine and add stock. Finish with herbs then salt and pepper to taste.

Top the wood fired duck with the onion jam and sour cherry mustard.

for Santa to fill, each embellished with your children’s names; get a second children’s Christmas tree that only the little ones can trim; don your staircase and mantle with evergreens and all-white candles; and don’t forget to hang mistletoe or a kissing ball for lovebirds who pay you a visit.

The exterior of your home should not be forgotten either. Get into the holiday spirit by lighting up a few spectacular trees in your yard or highlighting some of the unique architectural aspects of your house. Each year, your family and neighbors will look forward to your light extravaganza. Need inspiration? Head to the zoo to see its dazzling display of holiday lights.

Looking for a way to appreciate all the holiday lights in your own neighborhood? Try the old tradition of caroling from house to house. Gather your friends and family, pass out some festive sheet music, and don’t forget your holiday cheer. Best part about caroling? You can make it a White Christmas simply singing the song

by Bing Crosby, even if the weather

does not wish to participate.

Finally, there’s no better place to build holiday traditions than in the kitchen. After all, nothing says the holidays better than warm

gingerbread cookies and hot cocoa. Make the winter holidays special for the little ones by making homemade holiday cookies and treats (maybe even start up an annual cookie swap for friends and neighbors).

The kids or grandkids will really enjoy building a beautiful gingerbread house and will look forward to this event year after year. Create a photo album of your gingerbread houses through the years as a special memento.

While you’re in the kitchen, why not plan a holiday dinner that every member of the family will look forward to year after year? Forego the normal roasts and casseroles and prepare your partner or child’s favorite meal instead, even if it’s a nontraditional choice. Voila … instant family tradition. And don’t forget to whip up a signature seasonal cup of cheer – think cranberries, cinnamon, and spice. Happy holidays!

Housing Market Review BY MIKE ORR

It is now almost two and a half years since the Greater Phoenix housing market hit its lowest monthly median sales price of $117,000 in April 2011.

Since then the monthly median sales price for single family homes in Maricopa County has recovered sharply, reaching $204,250 as of August 2013. That 75% jump indicates just how much the market has changed, but it still has another 41% to grow before attaining the previous high of $287,990 reached in June 2006.

The market has changed in content too. Back in April 2011 the majority (64%) of the market consisted of distressed properties including homes sold at trustee sales, bank owned properties, HUD homes and short sales.

In August 2013 these distressed properties were only 18% of sales and the majority of transactions are now between normal sellers and buyers.

Distressed properties often sell at discounts of 25% or more, so as they disappear this has a large effect on the

median sales price. If we look exclusively at normal transactions, median sales prices have increased by a more modest 17% from $180,000 in April 2011 to $210,000 in August 2013.

Without a large number of foreclosures, buyers have outnumbered sellers for quite some time, although from $200,000 upwards that situation is now easing. More homeowners now have equity and are free to sell their home without needing permission from their lender. Higher prices have led to weaker enthusiasm from investors and their purchases have fallen from almost 40% of the market last summer to just under 24% in August this year. Out-ofstate buyers also have lower interest in Greater Phoenix now that we are no longer offering attractive homes at bargain basement prices.

New home builders are slowly ramping up production in areas such as the Southeast and Northwest Valleys, but are still at completion levels that are less than half the monthly rate of the

late 1990s. Constraints on affordable land and construction labor mean they are unlikely to be able to increase the number of homes fast enough to keep pace with populations growth. However household formation remains subdued due to the weak job recovery.

The luxury market has been stimulated by lenders making jumbo loans more available as well as offering more attractive terms. Some have lower rates for jumbo loans than conventional loans which is a very unusual situation.

All these factors are combining to cause the market to return to more normal conditions and the balance between buyer and seller slightly less favorable to sellers than it has been over the last two years. In contrast buyers have much more choice and a little more bargaining power.

Author and statistician Mike Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business.

The West Select | A New Western Classic Phoenix Art Museum | November 10-December 31 602.257.1222 | TheWestSelect.com The West Select is a Western invitational art sale and exhibition. Featuring paintings, drawings, sculptures, and photographs the works in exhibition reveal iconic landscapes, wildlife, and depictions of the modern or “New West”. Proceeds benefit the Men’s Arts Council of Phoenix Art Museum, a non-profit organization that supports the programs and activities of Phoenix Art Museum through unique events.

Ocean Prime 5th Year Anniversary Week Ocean Prime | November 11-17 480.347.1313 | OceanPrimePhoenix.com Ocean Prime Celebrates its 5th anniversary by offering guests a special five-course menu in addition to the regular dinner menu. Designed by executive chef Jagger Griffen, the anniversary menu features several of Ocean Prime’s most popular dishes and includes a glass of Prosecco with dessert.

White Christmas Phoenix Theatre | November 20-December 24 602.254.2151 | PhoenixTheatre.com Celebrate the holidays with this true Irving Berlin classic! White Christmas is a great musical theatre story of the two World War II veterans with a successful song-and-dance act. With love on their minds, they meet up with a duo of beautiful singing and dancing sisters en route to their Christmas show at a Vermont lodge, which happens to be owned by their former army commander.

The Nutcracker Symphony Hall | December 6-24 602.381.1096 | BalletAZ.org A holiday celebration to share! Dancing toys, mischievous mice, waltzing flowers and sparkling snowflakes dance to Tchaikovsky’s sumptuous score performed by The Phoenix Symphony. This holiday classic tells the story of Clara and her magical Nutcracker Prince as they embark on a thrilling adventure. Each year Ballet Arizona rings in the season with Ib Andersen’s The Nutcracker, creating memories to cherish forever.

A Holiday Jazz Celebration with Marty Ashby Musical Instrument Museum | December 21 480.478.6000 | TheMIM.org Marty Ashby will present a Holiday Jazz Celebration, this time with a full seventeen-piece big band! The evening will feature new arrangements of some holiday favorites as well as a few special twists and surprises. This year’s featured guest is trumpet master Sean Jones, one of the hottest musicians on the jazz scene today.

McDowell Mountain Ranch

November | December 2013

8665 E Hartford Drive, Suite 105, Scottsdale, AZ 85255

• She has 15 years of invaluable mortgage lending experience • Licensed in both Arizona and California • Works with the area’s Top Real Estate Professionals • Loan closings in 30 days or less • McDowell Mountain Ranch Homeowner and Resident • Founding member of the Cardon Children’s Medical Center and Banner Health Foundation Star’s of the Season Advisory Council • 2012 Affiliate Member of the Year, Scottsdale Women’s Council of REALTORS • 2013 Treasurer for Scottsdale Women’s Council of REALTORS

For a mortgage analysis call Angelica:

602.345.7403

Your Premier McDowell Mountain Ranch Mortgage Lender committed to creating customers for life

ANGELICA J. FRANCO Sales Manager NMLS# 298954 Office: 602.345.7403 Cell: 707.529.9410 Email: AFranco@PrimeRes.com Facebook: www.Facebook.com/ AngelicaFrancoHomeLoans

FHA Streamline 203k An attractive option for borrowers who:

• Would like to avoid having to use personal funds or obtain a 2nd mortgage for repairs, renovations and improvements.

• Want to improve their home and neighborhood.

• Want only one loan, with one closing.

FHA 203(k) Provides Cost-Effective, Single Close Loan that Enables Borrowers to Purchase a Home that May Need Repairs or Remodeling. When you offer the STREAMLINED 203(k) limited repair program, borrowers can finance a maximum of $30,000 into their mortgage to make improvements. The program includes the necessary funds for the renovation by financing the “as-completed” value of the home, rather than the present value. FHA 203(k) can help you expand your market reach by providing a value added niche product to qualified borrowers who need to renovate or repair their home, or have repair contingencies on a home they wish to purchase.

• Are looking for a cost effective way to renovate, repair or improve an existing home.

• Would like to rehabilitate a foreclosure that has been neglected or damaged by an occupant.

Call Angelica today at 602.345.7403 to secure a loan to remodel your kitchen and get ready for the holidays.

Summary of Current Real Estate Activity in Mc Dowell Mountain Ranch Since September 1, 2013 Active

Under Contract/ Backups

Pending

Closed

Overall

# Listings

50

7

10

33

100

List/Sold Volume

$36,847,300

$4,142,000

$6,434,700

$22,161,850

$22,161,850

List/Sold Low $250,000 Price Avg $736,946 High $3,495,000

$358,000 $591,714 $850,000

$349,900 $643,470 $895,000

$340,000 $671,571 $1,397,000

$250,000 $701,758 $3,495,000

Approx SF Low 1,338

Avg 2,865

High 6,555

1,622 2,586 3,297

1,622 2,728 3,604

1,338 2,797 6,555

1,451 2,760 4,425

List/Sold Low $169.83 Price Per Avg $238.16 Approx SF High $556.44

$178.91 $228.80 $301.03

$187.62 $232.19 $295.28

$173.80 $237.07 $357.43

$169.83 $238.70 $556.44

Days on Low 1 Market Avg 70

High 242

4 55 125

0 50 192

2 53 266

0 61 266

Programs, rates, terms and fees are subject to change without notice.

NMLS# 3094, NMLS# 155389 Licensed by the Arizona Department of Financial Institutions, AZ BK# 0902614

www.ArizonaLoanPros.com

All information is deemed reliable but not guaranteed.

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

Holiday Traditions

Creating A Season To Remember

Cover Photography | High Res Media LLC

Angelica has been a leader in the mortgage industry for over 15 years.

She was born in Sonoma CA, moved to Arizona in 2003 and became a proud McDowell Mountain Ranch home owner in 2005. As a Senior Loan Officer and Sales Manager for one of the top 10 Primary Residential Mortgage branches in the country, she embodies a level of passion and perfection that is valued by clients and colleagues alike.

If you are looking to purchase a home or refinance, work with someone that is educated, dedicated, client focused and has a personal investment in the community you live in:

Housing Market 2013

A Return To More Normal Conditions

Festive Flavors for Fall Roaring Fork’s Decadent Wood Fired Duck

McDowell Mountain Ranch

Real Estate Report