The #1 Agent &
ORAN
FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!
Kelly McLain Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
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Current Mortgage Rates Mortgage rates improved modestly as investors remain cautious amidst rising coronavirus stats in several states. The experience of those states is fueling broader concern about a 2nd wave of the disease that may logically follow less efficient social distancing as various states and counties reopen for business. In general, when investors are feeling cautious or fearful (relatively), we tend to see things like the bond market do better while stocks do worse. That’s not a hard and fast rule, but it’ Mike Tompkins a fair generalization. This notion is supported in Sales Manager the current environment by the fact that stock prices and bond yields have been an almost Mortgage Loan perfect mirror image of each other recently. Originator Bond prices move inversely with rates/yields. In other words, higher bond prices lead to lower interest rates. Mortgages are part of the bond market because a majority of them end up being grouped together and effectively “turned into” bonds via the securitization process. As bonds, they offer an alternative to things like US Treasuries for some investors. Simply put, strong demand in the bond market tends to find its way into mortgage bonds as well, thereby pushing bond prices higher and mortgage rates lower. Low rates call me for refinancing options.
602.329.6591 Direct NMLS # 217645 tompkins@ksstatebank.com| www.ksstatebank.com
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117
We are halfway through 2020, and it’s been a year none of us will ever forget. Many of us have read or heard that the local real estate market is weak, prices may start falling, or things are not getting any better. Don’t believe any of that, as I start my 32nd year in real estate the market remains very strong for all sellers. In fact my last three listings run the price range, and statistics show the market is remaining strong. One of my listings priced at $599,000 had 4 offers and was bid up to $612,000 and SOLD in 8 days. Another listing I just SOLD for $850,000 and it SOLD in 14 days, my last listing which just closed at the end of June SOLD for $1,995,000 and was only on the market for 21 days with two offers. My listings continue to sell and it really doesn’t matter what price range, homes are selling if properly exposed and staged. We offer free interior decorating service to prep any home before it goes on the market. Extensive photography including matter-port 3D walk-through’s, drone shots, and evening shots are all included. We are seeing many buyers move down from the state of Washington, California, Illinois, and even a few from New York. Some of our listings are being bought online, without a buyer stepping foot in the property. Buyers are doing their home inspections and reviewing everything on-line, we are creating zoom video walk through of each property, and still closing right on time. It’s a constantly changing market and Re/Max has taken advantage of this change with the latest in technology and marketing dollars needed to properly expose these listings locally and nationwide. Some interesting tidbits. We are seeing many homeowners putting their condominiums on the market. Trends indicate buyers want more space, and many of our homes in the Orange Tree area have lots of space, so look for our values to remain strong as inventory will remain very limited. This past week MLS showed within a 5 mile radius of Orange Tree, 77 properties came on the market over a 10 day period, 64 of those properties were condominiums and 13 were single family homes. I’m sure this trend won’t last forever but it’s interesting whats happening in our market. Please call me if you’re thinking of buying or selling, it’s a great market, and homes are selling! Kelly McLain
ADDRESS SQFT BED BATH LIST PRICE PRICE PER SQFT Latest ACTIVE & Pending LISTINGS around Orange Tree 6230 E TURQUOISE AVE 7,570 11001 N 60TH ST 6,452 11008 N 60TH ST 6,823 5802 E LEITH LN 5,806 6346 E MOUNTAIN VIEW RD 7,387 6345 E GOLD DUST AVE 4,745 12004 N 63RD PL 4,790 9834 N 61ST PL 4,935 10038 N 57TH ST 4,442 10836 N 53RD ST 3,826 10242 N 57TH ST 4,229 5802 E SHEA BLVD 4,867 11419 N ST ANDREWS WAY 4,172 11409 N SAINT ANDREWS WAY 3,544 5419 E SAHUARO DR 3,804 5812 E COCHISE RD 3,025 10037 N 52ND PL 3,564 6330 E DESERT COVE AVE 2,890 10413 N 55TH PL 2,832 6324 E COCHISE RD 3,676 12829 N 59TH ST 2,884 12201 N 58TH WAY 3,289 5969 E SWEETWATER AVE 2,782 5938 E CORRINE DR 2,256 11455 N 56TH ST 1,966
5 6 4 4 9 4 4 7 4 4 4 5 5 4 5 5 3 4 4 4 4 4 5 3 2
5.5 6.5 3.5 4.5 9 3.5 4.5 6 3.5 3.5 3.5 4 3.5 3.5 4 2.5 3 3 2.5 3 2 2 3 2.5 2
$3,275,000 $2,999,500 $2,750,000 $2,479,000 $2,340,000 $1,949,000 $1,900,000 $1,800,000 $1,499,000 $1,495,000 $1,397,000 $1,225,000 $1,168,000 $1,065,000 $1,020,000 $950,000 $938,000 $935,000 $850,000 $850,000 $669,000 $660,000 $640,000 $624,900 $478,500
$432.63 $464.89 $403.05 $426.97 $316.77 $410.75 $396.66 $364.74 $337.46 $390.75 $330.34 $251.70 $279.96 $300.51 $268.14 $314.05 $263.19 $323.53 $300.14 $231.23 $231.97 $200.67 $230.05 $276.99 $243.39
NEIGHBORHOOD
SUNBURST FARMS EAST CENTURY CIRCLE ESTATES CENTURY CLUB ESTATES CENTURY CLUB ESTATES SUNBURST FARMS EAST SUNBURST FARMS EAST ARABIAN GREEN TIERRA FELIZ NORTH COUNTRY CLUB ACRE LA CAMARILLA COUNTRY CLUB ACRES CENTURY CLUB ESTATES CENTURY CLUB ESTATES CENTURY CLUB ESTATES ORANGE TREE ESTATES COUNTRY ESTATES CAMELBACK COUNTRY CLUB VILLAS BAR TED ACRES PROMONTORY SUNBURST FARMS EAST AVANT 1 AVANT 1 AVANT ONE AVANT 1 CENTURY PLACE
WANT YOUR PROPERTY TO BE OUR NEXT COVER HOME? Call Phil for the most effective marketing strategies to sell your Biltmore property.
All information is deemedisreliable but notbutguaranteed. TheProperties properties list have been listed/sold variousofmembers All information deemed reliable not guaranteed. on on thisthis list have been listed/sold by variousbymembers the MLS. of the MLS. If your home is currently listed, this is not a solicitation for that listing.
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