North Central Lifestyle

PAIGE

MAY | JUNE 2015

L I F E S T Y L E Spring is in the Air ... And so is Real Estate Development

Since the invention of residential air conditioning, the Valley of the Sun population increased significantly. Long before, in the late 1800s development began along North Central Ave, between Northern and Bethany Home Road, called Orangewood Residential Village.

Mr. William J. Murphy’s original concept was to establish estate-sized lots and homes, surrounded by citrus and within a short distance to the city. It was a huge success.

Since then, residents have worked hard to retain the character and charm that the area has become known for.

Since our location is still desirable and attracts locals and people from all parts of the world, developers continue to find their way back to North Central. You’ve seen several projects pop up over the years, called “infill,” where new houses are built within established neighborhoods.

Last year, between 7th - 7th, Northern to Camelback, 12 newly built houses sold, representing 140% increase over the prior year. Expect more to come, whether it be multiple parcels, or even a single lot. If you have questions about what’s coming, along Central Avenue or otherwise, call for more information.

Living The Good Life In The North Central Corridor

N ew Neighbors The Morrell Family

Welcome home! Matt Morrell, EVP with De Rito Partners, grew up in North Central, attended Brophy and ASU. He married Amanda Morell, also an ASU grad, and Sr Wealth Strategy Associate at UBS. They have a little girl, Liliana, and are excited to see her grow up and play in the same neighborhood where Matt created many fond memories. You will likely see Matt and Mandy out walking with Liliana and their two dogs. Please welcome the Morrell family!

Oh-soBlissful Elegant!

Surroundings

15 Sold Homes YTD Priced over $500k, Bethany Home - Northern, 7th to 7th ADDRESS SQFT BED BATH LIST PRICE SOLD PRICE LIST/SOLD

PER SQFT

NEIGHBORHOOD

512 W Belmont Ave 6833 N Central Ave 210 E Berridge Ln 7601 N Central Ave 3 618 W Palmaire Ave 615 E Winter Dr 531 W Marlette Ave 215 E Keim Dr 136 E Marlette Ave 315 W Kaler Dr 7339 N 2nd Dr 302 E Wexford CV 7322 N 4th Dr 229 W Vista Ave 7033 N Wilder Rd

Tierra Vista Central Estates Rose Meadows La Reserve Northridge Claremont Villa Ambassador Estates Rose Meadows North Central Park Pyle Estates Antrims Field Wexford Cove North Central Villa Madison Meadows Orangewood

Closed

Paige Heavey 602.770.3311 Paige@PaigeHeaveyGroup.com Paige Heavey Fine Properties Group Associate Broker, Certified Negotiation Expert Coldwell Banker Residential Brokerage Top 2% Statewide, Top 6% Worldwide

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

2,340 3,411 2,614 2,450 3,267 3,263 2,845 3,035 3,537 3,880 4,246 3,639 3,485 5,684 4,735

4 4 4 3 4 4 5 4 5 5 5 4 4 6 5

2.75 3.75 3 2.5 3 3.5 4 3.5 3 3 4 5 3.5 6 4.5

$517,500 $607,000 $617,000 $625,000 $640,000 $682,000 $685,000 $710,000 $750,000 $845,000 $845,000 $925,000 $931,000 $985,000 $1,650,000

$221.15 $177.95 $236.03 $255.10 $195.90 $209.01 $240.77 $233.94 $212.04 $217.78 $199.01 $254.19 $267.14 $173.29 $348.47

If you want to understand the value of your home, call 602.770.3311 or email Paige@PaigeHeaveyGroup.com and you’ll get a customized report, with my compliments.

All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various members of the MLS. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

Real Estate Update

Townhome & Condo Popularity

Springtime Favorite Salty Señorita’s Caesar Salad

Welcome Morrell Family North Central Market Report Presented By

Blissful Surroundings

In Good Taste Salty Senorita’s SaltySenorita.com | 480.947.2116

Elegance. How do you define it? When it comes to your home, it’s anything that makes you feel special, graceful, and sophisticated. Being in elegant surroundings—think of a posh hotel, a chic urban eatery, or even a grand museum—has an impact on how we feel. We feel uplifted and stylish, and in turn, we feel happy, like anything can happen on any given day. Here’s how to create an elegant room filled with the right elements so you’ll feel inspired to live a beautiful life.

Grilled Caesar Salad with Wild King Salmon INGREDIENTS SALMON 4- 6oz Wild King Salmon filet (skin off) 1 tbsp extra virgin olive oil Salt and pepper to taste CAESAR SALAD 2 heads romaine lettuce 4 tbsp Caesar dressing

1 tbsp extra virgin olive oil Salt and pepper to taste

CROUTONS 1 loaf focaccia bread 2 tbsp parmesan cheese

2 tbsp extra virgin olive oil Salt and pepper to taste

If you want elegance, the size and grandeur of a room definitely helps set the stage. A living room with high ceilings, an open floor plan, and tall windows is a perfect place to start. Silk drapes can give a room a sweeping feeling of elegance with soft natural light streaming in from behind. Even if you don’t have those elements, simple tips can trick the eye. Hang your drapes as high as possible, just grazing the floor to give the room a feeling of height. To keep it airy and open feeling, select light paint hues or maybe an ethereal white. Light colors will keep the space soothing and inviting … you want a room of enlightenment. (Leave the darker colors for the den!)

Event Calendar MAY | JUNE 2015 Urban Wine Walk

Appoint your room with glass and metal end tables and coffee tables to achieve a free-flowing space. This is a room for discussions, music, and entertaining.

The final details for an air of joyful elegance: fresh flowers in beautiful vases, books on favorite artists and authors, and perhaps sculpture or a piano to make the mood sublime. We’re not talking stuffy … just setting the room with beautiful items that make you smile when you see them, that evoke memories and make you feel blissful and ready for anything that may come your way. Living your life in a beautiful and elegant setting can truly impact your happiness. Find your bliss!

Décor is usually minimal in sophisticated spaces, for clutter is anything but elegant. Artwork lends a refined touch to interiors, and adds splashes of color to more monochromatic rooms. Neutral area rugs and symmetrically aligned furniture keep the mood intimate and understated. Sofas and armchairs are more tailored and trimmed than their softer, sink-into-them cousins that are more at home in the family room. Wood tones are also mostly light, while lamps, frames, and accessories are done in shiny silvers and golds for a polished look.

PREPARATION SALMON Season salmon with salt and pepper. Wipe the hot grill with a lightly oiled towel and place salmon on the grill at a 45 degree angle to the grill grate. Grill the salmon for 2-3 minutes then turn the fish over to the opposite side and cook for an additional 2 minutes until medium rare.

Yields: 4 Servings

Spring Restaurant Week Various Locations | May 15 – May 25 ArizonaRestaurantWeek.com | 602.307.9134 This statewide affair that gives foodies a wealth of dining opportunities and the chance to get outside their own neighborhood and try something new.

From sizzling Southwestern and soothing comfort foods to five-star dining and international fare – it’s all on the table during Arizona Restaurant Week. So prepare your taste buds and dig in.

Cave Creek Balloon Festival Rancho Mañana Golf Course | May 23 CaveCreekFestivals.com Come out for the Sixth Annual Cave Creek Balloon Festival. This year is going to be bigger and better than ever! The Rancho Mañana Golf Course will once again become a magical field of glowing splendor when brightly colored and whimsically shaped balloons come to life. Enjoy live music by local bands, food and beverages that include locally brewed Four Peaks. Gates open at 5:00 PM and glowing balloons to venture off at 7:30 PM.

CROUTONS Cut focaccia bread into 1/2 inch cubes. Drizzle olive oil and parmesan over focaccia cubes and season with salt and pepper. Bake the cubes at 350 degrees for 10-15 minutes, or until golden and crispy.

SALAD Cut romaine lettuce in half by length and brush with olive oil. Grill romaine until slightly softened. Drizzle Caesar dressing over romaine, place on a serving platter, top with croutons and parmesan cheese. Place salmon on top of the salad, drizzle with olive oil and garnish with lemon.

Light Rail Corridor | May 16 VisitPhoenix.com | 602.254.8698 A fun day of wine tasting and a trip through the world of wine! All the participating restaurants are on the Light Rail corridor and are within a short walk from each stop. They will be offering up to three wine samples and snacks. You can start the Urban Wine Walk at any location of your choosing. All you need to participate is a map, an adventurous spirit and an all-day Light Rail pass. The walk begins at 1:00 PM and walkers must be 21 and over to participate.

Residential Real Estate

By Michael Orr | Director of Real Estate Studies at ASU & Principal of The Cromford Report

Between September 2013 and January 2015 the Greater Phoenix housing market suffered from an unusual combination of weak demand and low supply. The only sector that was firing on all cylinders was the extreme luxury market. Although homes over $2,000,000 sold in higher quantities than they had since 2006, the bulk of

the market saw relatively low sales volumes and prices that were mostly stagnant. However we saw a low level of loan delinquency and little distress in 2014. Although buyers enjoyed some negotiation power this showed up in concessions like having their closing costs paid by the seller rather than any downward pressure on pricing.

Andy Warhol: Portraits

and second home buyers. The market in March 2015 continues to strengthen and in the majority of areas, sellers have the upper hand in negotiations again. The number of multiple bid situations is increasing and upward pricing pressure is starting to build.

There are many potential reasons for the increase in demand: • Down payment requirements are lower than in 2014 • More millennials are starting families • People foreclosed in 2008 are becoming eligible for conventional loans again • Some lenders are gradually loosening their underwriting guideline

A change occurred in February 2015 as a significant up-tick in demand produced far more homes under contract and a shrinking supply of homes for sale. This was particularly true of the sector from $150,000 up to $600,000 which includes the entry level homes as well as most of the move-up market.

• FHA loans are more affordable thanks to lower insurance premiums

Investor demand is back down to normal, so this additional buyer interest is coming from ordinary owner-occupiers

• Interest rates remain remarkably low by historic standards

• Unemployment continues to fall • Central Arizona’s economy continues to strengthen • Increased consumer confidence & more disposable income thanks to lower fuel costs

REAL ESTATE CORNER

It is difficult to determine which combination of these is having the most effect, but whatever the reason, it is very obvious that more people are interested in home buying than a year ago.

Another trend that has developed is a growing preference for attached homes – condos and townhouses, suitable for a “lock and leave.” These are increasing market share at the expense of single family homes which have traditionally taken 85% of the total market by unit count.

The current renewed buyer interest is likely to quickly overpower the supply of both condo and single family homes and if it continues we anticipate a busier year for new home construction than in 2014.

Phoenix Art Museum | May 15 – June 21 PHXArt.org | 602.257.1880 Come out to view Andy Warhol’s work from his student days. An American artist who was a leading figure in the visual art movement known as pop art, the exhibition examines Warhol’s fascination with celebrity culture and the “world famous”. It will feature more than 150 screen prints, paintings, drawings, and Polaroid portraits.

Saturday Night Starlight Trains Verde Canyon Railway | May 30 and June 27 VerdeCanyonRR.com | 800.320.0718 On select Saturday evenings, the train departs at 5:30 PM from the Verde Canyon Railroad just outside of Sedona. The first part of the trip you will get to enjoy the beautiful sunset. Once you reach the turn-around point, you will get to experience the beautiful celestial bodies. A magical experience. These evenings sell out quickly, so if you are interested make sure to book your reservations soon to jump aboard!

Blissful Surroundings

In Good Taste Salty Senorita’s SaltySenorita.com | 480.947.2116

Elegance. How do you define it? When it comes to your home, it’s anything that makes you feel special, graceful, and sophisticated. Being in elegant surroundings—think of a posh hotel, a chic urban eatery, or even a grand museum—has an impact on how we feel. We feel uplifted and stylish, and in turn, we feel happy, like anything can happen on any given day. Here’s how to create an elegant room filled with the right elements so you’ll feel inspired to live a beautiful life.

Grilled Caesar Salad with Wild King Salmon INGREDIENTS SALMON 4- 6oz Wild King Salmon filet (skin off) 1 tbsp extra virgin olive oil Salt and pepper to taste CAESAR SALAD 2 heads romaine lettuce 4 tbsp Caesar dressing

1 tbsp extra virgin olive oil Salt and pepper to taste

CROUTONS 1 loaf focaccia bread 2 tbsp parmesan cheese

2 tbsp extra virgin olive oil Salt and pepper to taste

If you want elegance, the size and grandeur of a room definitely helps set the stage. A living room with high ceilings, an open floor plan, and tall windows is a perfect place to start. Silk drapes can give a room a sweeping feeling of elegance with soft natural light streaming in from behind. Even if you don’t have those elements, simple tips can trick the eye. Hang your drapes as high as possible, just grazing the floor to give the room a feeling of height. To keep it airy and open feeling, select light paint hues or maybe an ethereal white. Light colors will keep the space soothing and inviting … you want a room of enlightenment. (Leave the darker colors for the den!)

Event Calendar MAY | JUNE 2015 Urban Wine Walk

Appoint your room with glass and metal end tables and coffee tables to achieve a free-flowing space. This is a room for discussions, music, and entertaining.

The final details for an air of joyful elegance: fresh flowers in beautiful vases, books on favorite artists and authors, and perhaps sculpture or a piano to make the mood sublime. We’re not talking stuffy … just setting the room with beautiful items that make you smile when you see them, that evoke memories and make you feel blissful and ready for anything that may come your way. Living your life in a beautiful and elegant setting can truly impact your happiness. Find your bliss!

Décor is usually minimal in sophisticated spaces, for clutter is anything but elegant. Artwork lends a refined touch to interiors, and adds splashes of color to more monochromatic rooms. Neutral area rugs and symmetrically aligned furniture keep the mood intimate and understated. Sofas and armchairs are more tailored and trimmed than their softer, sink-into-them cousins that are more at home in the family room. Wood tones are also mostly light, while lamps, frames, and accessories are done in shiny silvers and golds for a polished look.

PREPARATION SALMON Season salmon with salt and pepper. Wipe the hot grill with a lightly oiled towel and place salmon on the grill at a 45 degree angle to the grill grate. Grill the salmon for 2-3 minutes then turn the fish over to the opposite side and cook for an additional 2 minutes until medium rare.

Yields: 4 Servings

Spring Restaurant Week Various Locations | May 15 – May 25 ArizonaRestaurantWeek.com | 602.307.9134 This statewide affair that gives foodies a wealth of dining opportunities and the chance to get outside their own neighborhood and try something new.

From sizzling Southwestern and soothing comfort foods to five-star dining and international fare – it’s all on the table during Arizona Restaurant Week. So prepare your taste buds and dig in.

Cave Creek Balloon Festival Rancho Mañana Golf Course | May 23 CaveCreekFestivals.com Come out for the Sixth Annual Cave Creek Balloon Festival. This year is going to be bigger and better than ever! The Rancho Mañana Golf Course will once again become a magical field of glowing splendor when brightly colored and whimsically shaped balloons come to life. Enjoy live music by local bands, food and beverages that include locally brewed Four Peaks. Gates open at 5:00 PM and glowing balloons to venture off at 7:30 PM.

CROUTONS Cut focaccia bread into 1/2 inch cubes. Drizzle olive oil and parmesan over focaccia cubes and season with salt and pepper. Bake the cubes at 350 degrees for 10-15 minutes, or until golden and crispy.

SALAD Cut romaine lettuce in half by length and brush with olive oil. Grill romaine until slightly softened. Drizzle Caesar dressing over romaine, place on a serving platter, top with croutons and parmesan cheese. Place salmon on top of the salad, drizzle with olive oil and garnish with lemon.

Light Rail Corridor | May 16 VisitPhoenix.com | 602.254.8698 A fun day of wine tasting and a trip through the world of wine! All the participating restaurants are on the Light Rail corridor and are within a short walk from each stop. They will be offering up to three wine samples and snacks. You can start the Urban Wine Walk at any location of your choosing. All you need to participate is a map, an adventurous spirit and an all-day Light Rail pass. The walk begins at 1:00 PM and walkers must be 21 and over to participate.

Residential Real Estate

By Michael Orr | Director of Real Estate Studies at ASU & Principal of The Cromford Report

Between September 2013 and January 2015 the Greater Phoenix housing market suffered from an unusual combination of weak demand and low supply. The only sector that was firing on all cylinders was the extreme luxury market. Although homes over $2,000,000 sold in higher quantities than they had since 2006, the bulk of

the market saw relatively low sales volumes and prices that were mostly stagnant. However we saw a low level of loan delinquency and little distress in 2014. Although buyers enjoyed some negotiation power this showed up in concessions like having their closing costs paid by the seller rather than any downward pressure on pricing.

Andy Warhol: Portraits

and second home buyers. The market in March 2015 continues to strengthen and in the majority of areas, sellers have the upper hand in negotiations again. The number of multiple bid situations is increasing and upward pricing pressure is starting to build.

There are many potential reasons for the increase in demand: • Down payment requirements are lower than in 2014 • More millennials are starting families • People foreclosed in 2008 are becoming eligible for conventional loans again • Some lenders are gradually loosening their underwriting guideline

A change occurred in February 2015 as a significant up-tick in demand produced far more homes under contract and a shrinking supply of homes for sale. This was particularly true of the sector from $150,000 up to $600,000 which includes the entry level homes as well as most of the move-up market.

• FHA loans are more affordable thanks to lower insurance premiums

Investor demand is back down to normal, so this additional buyer interest is coming from ordinary owner-occupiers

• Interest rates remain remarkably low by historic standards

• Unemployment continues to fall • Central Arizona’s economy continues to strengthen • Increased consumer confidence & more disposable income thanks to lower fuel costs

REAL ESTATE CORNER

It is difficult to determine which combination of these is having the most effect, but whatever the reason, it is very obvious that more people are interested in home buying than a year ago.

Another trend that has developed is a growing preference for attached homes – condos and townhouses, suitable for a “lock and leave.” These are increasing market share at the expense of single family homes which have traditionally taken 85% of the total market by unit count.

The current renewed buyer interest is likely to quickly overpower the supply of both condo and single family homes and if it continues we anticipate a busier year for new home construction than in 2014.

Phoenix Art Museum | May 15 – June 21 PHXArt.org | 602.257.1880 Come out to view Andy Warhol’s work from his student days. An American artist who was a leading figure in the visual art movement known as pop art, the exhibition examines Warhol’s fascination with celebrity culture and the “world famous”. It will feature more than 150 screen prints, paintings, drawings, and Polaroid portraits.

Saturday Night Starlight Trains Verde Canyon Railway | May 30 and June 27 VerdeCanyonRR.com | 800.320.0718 On select Saturday evenings, the train departs at 5:30 PM from the Verde Canyon Railroad just outside of Sedona. The first part of the trip you will get to enjoy the beautiful sunset. Once you reach the turn-around point, you will get to experience the beautiful celestial bodies. A magical experience. These evenings sell out quickly, so if you are interested make sure to book your reservations soon to jump aboard!

PAIGE

MAY | JUNE 2015

L I F E S T Y L E Spring is in the Air ... And so is Real Estate Development

Since the invention of residential air conditioning, the Valley of the Sun population increased significantly. Long before, in the late 1800s development began along North Central Ave, between Northern and Bethany Home Road, called Orangewood Residential Village.

Mr. William J. Murphy’s original concept was to establish estate-sized lots and homes, surrounded by citrus and within a short distance to the city. It was a huge success.

Since then, residents have worked hard to retain the character and charm that the area has become known for.

Since our location is still desirable and attracts locals and people from all parts of the world, developers continue to find their way back to North Central. You’ve seen several projects pop up over the years, called “infill,” where new houses are built within established neighborhoods.

Last year, between 7th - 7th, Northern to Camelback, 12 newly built houses sold, representing 140% increase over the prior year. Expect more to come, whether it be multiple parcels, or even a single lot. If you have questions about what’s coming, along Central Avenue or otherwise, call for more information.

Living The Good Life In The North Central Corridor

N ew Neighbors The Morrell Family

Welcome home! Matt Morrell, EVP with De Rito Partners, grew up in North Central, attended Brophy and ASU. He married Amanda Morell, also an ASU grad, and Sr Wealth Strategy Associate at UBS. They have a little girl, Liliana, and are excited to see her grow up and play in the same neighborhood where Matt created many fond memories. You will likely see Matt and Mandy out walking with Liliana and their two dogs. Please welcome the Morrell family!

Oh-soBlissful Elegant!

Surroundings

15 Sold Homes YTD Priced over $500k, Bethany Home - Northern, 7th to 7th ADDRESS SQFT BED BATH LIST PRICE SOLD PRICE LIST/SOLD

PER SQFT

NEIGHBORHOOD

512 W Belmont Ave 6833 N Central Ave 210 E Berridge Ln 7601 N Central Ave 3 618 W Palmaire Ave 615 E Winter Dr 531 W Marlette Ave 215 E Keim Dr 136 E Marlette Ave 315 W Kaler Dr 7339 N 2nd Dr 302 E Wexford CV 7322 N 4th Dr 229 W Vista Ave 7033 N Wilder Rd

Tierra Vista Central Estates Rose Meadows La Reserve Northridge Claremont Villa Ambassador Estates Rose Meadows North Central Park Pyle Estates Antrims Field Wexford Cove North Central Villa Madison Meadows Orangewood

Closed

Paige Heavey 602.770.3311 Paige@PaigeHeaveyGroup.com Paige Heavey Fine Properties Group Associate Broker, Certified Negotiation Expert Coldwell Banker Residential Brokerage Top 2% Statewide, Top 6% Worldwide

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

2,340 3,411 2,614 2,450 3,267 3,263 2,845 3,035 3,537 3,880 4,246 3,639 3,485 5,684 4,735

4 4 4 3 4 4 5 4 5 5 5 4 4 6 5

2.75 3.75 3 2.5 3 3.5 4 3.5 3 3 4 5 3.5 6 4.5

$517,500 $607,000 $617,000 $625,000 $640,000 $682,000 $685,000 $710,000 $750,000 $845,000 $845,000 $925,000 $931,000 $985,000 $1,650,000

$221.15 $177.95 $236.03 $255.10 $195.90 $209.01 $240.77 $233.94 $212.04 $217.78 $199.01 $254.19 $267.14 $173.29 $348.47

If you want to understand the value of your home, call 602.770.3311 or email Paige@PaigeHeaveyGroup.com and you’ll get a customized report, with my compliments.

All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various members of the MLS. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

Real Estate Update

Townhome & Condo Popularity

Springtime Favorite Salty Señorita’s Caesar Salad

Welcome Morrell Family North Central Market Report Presented By