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
Current Mortgage Rates No one can predict what the 2019 real estate market will look like, but the consensus is that interest rates will continue to rise. “In my opinion, you’ll see more houses on the market,” Buyers will have more opportunities to get a good deal. But you will see rising interest rates, and that puts the squeeze on what you can buy.” Interest rates could be another one-half to 1 percent higher in the spring, which would take some people out of the market. Higher mortgage rates reduce Mike Tompkins buying capacity. Other financial experts expect Sales Manager the Federal Reserve to continue the trend of Mortgage Loan raising short-term interest rates. The fed has Originator mentioned a lean towards neutral, but we shall see. “When the market anticipates that short-term interest rates will rise and remain high, longer term rates, (such as 30-year home loans) tend to follow” Seattle-based Zillow.com is predicting mortgage rates will rise steadily — to just under 6 percent by the end of 2019, the highest rate since the last recession.
NMLS # 217645 602.329.6591 Direct 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
Candis Creel Account Manager
602-697-0232
ccreel@atsaaz.com
We look forward to handling your next Escrow!
Spring has brought some good news for both sellers & buyers in the Orange Tree area The valley housing market is seeing noticeable changes, recent sales and listings data show that supply of affordable homes is increasing slightly while demand also is creeping up. We have also seen an above normal activity in homes selling above $1,500,000 in and around Orange Tree. Orange Tree, Equestrian Manor, Orange Tree Estates, Orange Tree Manor, Singletree, Avant, and Woodleaf are all seeing a strong surge in showings and offers. “Almost all the gloomy statements you may have seen about the Valley housing market have proven to be wildly overblown,” The market is in good shape and, thanks to lower interest rates and higher loan limits, we are seeing demand headed back to normal.” Looking at the rate of monthly sales, there is more supply in 2019 than in 2018, though inventory remains lower than in 2016 and 2017 and “has dropped from its peak on Feb. 1 at a faster rate than the other three years.” “This is due to a fairly subdued rate of incoming new listings and a rapid increase in demand due to more attractive interest rates. Sellers should be pretty happy with the current situation, and buyers can be pleased that they have more choice than last year. There is also some good news for buyers looking for new homes. The valley is number 5 among the 10 cities in the nation that are seeing the most home construction. Ahead of Phoenix, starting with number 1, were Dallas, Houston, New York City and Atlanta. The country is already at its lowest point in a decade for housing affordability, due largely to the shortage of homes on the market, in April this year, according to U.S. Census Bureau data, 9.9 percent fewer homes than a year ago had been started but not yet completed. The Orange Tree area continues to shine, several of my listings from $3,350,000 to $1,358,000 have sold and I’m down to just a handful of listings. On the cover you will see a home in gated Clearwater Hills in Paradise Valley, its the second lowest priced home per square foot on an acre in all of Paradise Valley, the sellers have moved out and this 5600 square foot home can be yours for $1,249,000 Looking to buy or sell, please call me, the cover photo home is easy to show, so let me know if you would like to take a peek.
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ADDRESS
SQFT
BED BATH LIST PRICE
LIST PER SQFT
10202 N 57th St 6222 E Mountain View Rd 6016 E Onyx Ave 5220 E Cholla St 11001 N 60th St 6021 E Cortez Dr 11832 N Blackheath Rd 9809 N 57th St 6229 E Gold Dust Ave 10602 N Monterose Wy 6242 E Laurel Ln 12006 N Oakhurst Wy 12021 N 61st St 6120 E Via Estrella Av 9827 N 57th St 12036 N 62nd Pl 10242 N 57th St 11453 N 53rd Pl 12004 N 63rd Pl 5802 E Shea Blvd 5301 E Cortez Dr 6116 E Shangri La Rd 6143 E Shangri La Rd 5402 E Cholla St 6010 E Cholla St 6336 E Cochise Rd 12023 N 62nd St 5448 E Oakhurst Wy 11455 N 54th St 12007 N 56th St 5526 E Shangri La Rd 5739 E Cactus Rd 5344 E Paradise Dr 10206 N 58th Pl 5519 E Bloomfield Rd 5829 E Bloomfield Rd 5234 E Cactus Rd 11460 N Century Ln 12202 N 57th Wy 11455 N 56th St
8,664 7,226 6,521 7,083 6,000 5,231 5,752 5,286 4,900 5,138 6,004 6,303 3,681 4,521 5,634 4,428 4,509 4,741 4,790 4,629 4,608 5,175 3,874 3,717 2,868 3,808 3,358 3,115 3,332 2,567 2,733 3,198 2,886 2,266 2,461 2,813 2,436 2,326 2,397 1,719
5 5 6 5 5 3 6 5 4 4 6 7 4 6 5 4 4 5 4 5 5 5 4 4 4 5 4 4 4 4 4 5 4 4 4 4 4 3 4 2
$375.12 $442.15 $413.28 $352.25 $415.82 $438.73 $398.99 $395.38 $413.17 $369.60 $312.29 $284.79 $487.64 $386.86 $308.84 $382.79 $360.39 $316.39 $292.28 $278.46 $276.69 $245.22 $309.61 $316.12 $348.33 $261.29 $282.91 $288.89 $247.57 $311.26 $278.05 $237.49 $247.75 $295.23 $264.12 $231.07 $262.52 $214.53 $193.95 $200.70
Currently For Sale in Orange Tree Area 6 5.5 6.5 6.5 5.5 3.5 5 4.5 4.5 5.5 5 5.5 3 4 5.5 3.5 3.5 6 4.5 4 4 4.5 4 3.5 3 3 3 2.5 3.5 2.5 3 3 3 2 3 3 3 3 2.5 2
$3,250,000 $3,195,000 $2,695,000 $2,495,000 $2,494,900 $2,295,000 $2,295,000 $2,090,000 $2,025,000 $1,899,000 $1,875,000 $1,795,000 $1,795,000 $1,749,000 $1,740,000 $1,695,000 $1,625,000 $1,500,000 $1,400,000 $1,285,000 $1,275,000 $1,269,000 $1,199,444 $1,175,000 $999,000 $995,000 $950,000 $899,900 $824,900 $799,000 $759,900 $759,500 $715,000 $669,000 $650,000 $649,999 $639,500 $499,000 $464,900 $345,000
A Stay to Remember
NEIGHBORHOOD Country Club Acres Sunburst Farms Tierra Felix Las Haciendas Century Circle Estates Equestrian Manor Century Club Estates Country Club Acres Sunburst Farms Century Club Estates Equestrian Manor Century Club Estates Equestrian Manor Tierra Feliz Country Club Acres Equestrian Manor Country Club Acres Las Haciendas Arabian Green Century Club Estates Las Haciendas Orangetree Manor Orangetree Manor Orangetree Estates Equestrian Manor Sunburst Farms Equestrian Manor Orangetree Estates Orangetree Estates Century Club Estates ROC Farms Estates Century Club Estates Woodleaf Country Estates Rancho Saguaro Avant Sunburst Farms Century Place Century North Century Place
Call Phil for the most effective marketing strategies to sell your Biltmore property. All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various members of the MLS. All information is deemed reliable but not guaranteed. Properties on this list have been listed/sold by various members of the MLS.
Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com
R
M AY | J U N E 2 0 1 9
Kelly McLain
WANT YOUR PROPERTY TO BE OUR NEXT COVER HOME?
If your home is currently listed, this is not a solicitation for that listing.
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