Pinnacle Peak June 09

Your Trusted Advisors In Real Estate TODAY’S MARKET FACTS

ZIP code 85255 single family homes: • In April 2009, 52 homes sold, which is a 19% decrease from April 2008.

• 2009 year-to-date unit sales are up 6% to the same period last year.

• Inventory is down 12% to last April.

• Homes currently under contract are up 21% and represent the highest number of homes under contract for any month in the last 24 months.

• With sales up and inventory down, the months of supply has dropped to 11.4 months. One year ago supply was 16.1 months, and last month it was 12 months.

• Distressed properties in 85255 represent 14% of the listings, 42% of homes sold YTD and 54% of those under contract.

June 2009

REAL ESTATE ACTIVITY IN

We are beginning to see signs of a marked inventory decrease in most local markets and record numbers of homes coming under contract. There is pent up demand of buyers who have postponed purchasing a home for fear of further market declines. At the point buyers generally get the green light that it is a good time to buy, prices may actually accelerate because of a limited and finite supply.

In Celebration of Ice Cream A Summertime Ritual

“Optimists are right. So are pessimists. It’s up to you to choose which you will be.” — Harvey MacKay

Would you like to receive automatic updates regarding your real estate neighborhood activity?

Have a question about real estate? Email your questions to us at the email addresses below.

FEATURED PROPERTY 7,500 sq. ft. • 4/5 Bedrooms • Den • Exercise Room • Two Bedroom Casita Offered at $4,000,000 (not in MLS) www.tourfactory.com/457881 Dramatic views of the McDowell Mountains, Pinnacle Peak, Troon Mountain and the city lights below surround this magnificent estate located in Ladera Vista, a privately gated enclave of just twenty-one home sites, spread across sixty acres of the high Sonoran Desert. Absolutely stunning!

SUBDIVISION # SS/ AVG AVG AVG $/ AVG DAYS

HOMES LO* PRICE SQ. FT. SQ. FT. ON MKT April 2009 Sales 5 4 $797,020 3,732 $214 111 Los Gatos 1 1 $350,000 2,552 $137 65 Pinnacle Peak Country Club 1 1 $475,000 3,077 $154 185 Pinnacle Peak Estates 1-3 2 2 $855,050 4,180 $205 122 Pinnacle Paradise 1 0 $1,450,000 4,669 $311 73

KIM BAKER Cell: 480.205.1345

MARY LYNN STENZEL Cell: 602.418.8537

Kim.Baker@SothebysRealty.com

MaryLynn.Stenzel@SothebysRealty.com

Russ Lyon | Sotheby’s International Realty 23733 N. Scottsdale Road, Suite 200 • Scottsdale, AZ 85255

Jan-Apr YTD 2009 Sales Canyon Heights Los Gatos Pinnacle Paradise Pinnacle Peak County Club Pinnacle Peak Estates 1-3 Pinnacle Peak Shadows Pinnacle Peak Vistas 1-4 Prado Estates Sonoran Highlands

21 1 2 1 4 4 1 5 2 1

12 $1,444,427 7,997 1 $2,300,000 13,000 2 $925,000 3,926 0 $1,450,000 4,669 2 $758,750 3,755 3 $657,025 3,638 0 $485,000 2,733 4 $938,980 4,471 0 $6,095,000 9,767 0 $1,700,000 5,241

$181 $177 $236 $311 $202 $181 $177 $210 $624 $324

300 348 158 73 175 191 363 149 1513 328

Currently Under Contract Canyon Heights Pinnacle Peak Estates 1-3 Pinnacle Peak Heights 1-4 Pinnacle Paradise Pinnacle Peak Shadows

10 1 5 1 1 2

9 1 5 0 1 2

$227 $383 $145 $328 $188 $143

281 896 187 667 31 140

$967,980 4,255 $2,750,000 7,171 $505,380 3,475 $2,995,000 9,143 $589,000 3,125 $409,450 2,868

Produced by Desert Lifestyle Publishing • 480.460.0996

Do You Have A Plan In Place?

A Chef Inspired Gourmet Treat

Meritage Steakhouse’s Blueberry Sour Cream Ice Cream

Pinnacle Peak’s

Hot Real Estate Listings

All information is deemed reliable but not guaranteed.

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

Selling Your Home

ISSN-1939-9650

I scream, you scream, we all scream for ice cream! With the average American consuming 23.2 quarts of some kind of frozen dairy product a year, eating ice cream might be considered a national pastime. Seriously, in times of celebration and solace do you reach for a cone or go to a baseball game? Perhaps both!

Let’s start off with a little freeze-teeze.

Get the answers when you’re done reading. (No peeking!)

Featuring Meritage Steakhouse at JW Marriott Desert Ridge Resort & Spa 5350 E. Marriott Dr. • Phoenix 480.293.3939 or jwdesertridgeresort.com

BLUEBERRY SOUR CREAM ICE CREAM WITH APPLE STREUSEL CRUNCH Ice Cream 1 cup blueberries 1 cup sugar

TRUE OR FALSE 1. More ice cream is sold on Sunday than any other day of the week.

2. Ice cream is a good source of calcium.

3. Ice cream is low in protein.

4. One out of five ice cream eaters share with their dog or cat.

5. One of the major ingredients in ice cream is air.

6. Less expensive ice cream has less fat.

7. Low fat ice cream and low fat ices are lower in calories.

8. The average number of licks for a single scoop is about 50.

9. The most amount of ice cream eaters are between the ages of 2 and 12 and over 45.

10. Chocolate is the most popular flavor.

1 tsp. lemon juice 2 cups sour cream

Mix the ingredients together. Spin the mix in an ice cream freezer until frozen. Store in the freezer.

Caramelized Apple Filling 8 apples 1 cup butter 1 cup brown sugar 1 cup sugar 1/2 tsp. cinnamon Core and peel apples and cut into thin slices. Melt butter, sugar and cinnamon to dissolve over medium heat. Add apple slices and cook until juices come out. Strain the apples from the rest of the juice and set aside.

Bread Pudding 2 cups half and half 1 cup sugar 1/4 tsp. vanilla Two pinches cinnamon

2 cups milk 2 eggs Pinch nutmeg 5 large croissants

Cut the croissants into 1-inch cubes and toast until golden brown.

Whisk the rest of the ingredients together in a bowl. Pour the mix into the croissants and transfer onto a cookie sheet. Make sure the thickness of the pudding is not more than 1 1/2 inches. Let it stand for half an hour. Bake in a water bath at 300 degrees for 30 minutes or until done and there is no liquid left.

Brown Sugar Streusel 2 cups flour 1/3 cup brown sugar 1/8 tsp. salt 1 tsp. cinnamon 1 tsp. almond extract

SUCH DELICIOUS ORIGINS As far back as the 4th century B.C. ice cream was used to nourish the soul. It is said that the Roman emperor Nero (A.D. 37-68) ordered his men to bring him ice from the mountains to be combined with fruit toppings for his pleasure.

1 cup sugar 1/3 cup quick oats 1 cup butter 1 tsp. vanilla

King Tang (A.D. 618-97) of Shang, China made his own milk and ice concoctions. Over time ice cream was brought from China to Europe and ice cream-type recipes started appearing among the Italian and French royalty. Once it hit America, politicos such as George Washington and Thomas Jefferson served it to their guests. Dolly Madison brought it to her tables in 1812.

In 1845 Americans started making their own ice cream with the invention of the hand-cranked freezer.

In 1984, President Ronald Reagan declared July to be National Ice Cream Month and National Ice Cream Day on the third Sunday of the month. This year celebrate this sweet treat on July 19th.

GOOD FOR YOU, GOOD FOR THE ECONOMY When eaten as part of a balanced diet and in reasonable portions, the mental benefits of eating ice cream far outweigh any physical downfalls. Check out how to enjoy a little ice cream every day and still fit into your skinny clothes in The Ice Cream Diet by Holly McCord.

In 1900 ice cream hit the economic map with the founding of the IICA (International Ice Cream Association).

With ice cream generating more than $21 billion in annual sales and employing thousands of workers, such a regulatory association was greatly needed. Ice cream is a huge factor in the success of the nation’s dairy industry with 9 percent of milk produced in the U.S. contributing to the manufacture of it.

SO MANY CHOICES Vanilla, strawberry, chocolate. Cone, sundae, sandwich. With so many flavors of ice cream and so many ways to eat it, it’s no wonder simple vanilla leads the way.

According to the International Dairy Foods Association, vanilla accounts for the largest amount of ice cream consumption, followed by chocolate, chocolate chip, butter pecan, strawberry, Neapolitan, cookies and cream, and rocky road. Cookie dough, cherry vanilla and coffee complete the top 10.

WILD, WEIRD & BE WARY

We’ve found some unconventional ice cream flavors in our travels but nothing less appetizing than the Japanese inspired soy-sauce flavor.

Here are some other wacky flavors popular in Asia.

Octopus Squid Sweet Potato Fried Eggplant Corn Wasabi

Fish Ox Tongue Crab Koshihikari Rice Shrimp Soy Sauce

1.True 2.True 3.False 4.True 5.True 6.True 7.False 8.True 9.True 10.False

Serve while still warm with a scoop of Blueberry Sour Cream Ice Cream.

If you were selling your business, you would develop a business plan. Considering your house is probably your number one asset, it deserves the same attention. You want to attract the best audience in the most efficient manner and sell for the best price. With the unprecedented competition in today’s tough market, you need to be as aggressive as possible. You may feel your house is unique but with more homes for sale than ever before, it’s only one of hundreds or thousands to the buyers out there.

Every business needs a trusted advisor. So does the sale of your home. Engage the help of an expert. Even if you’re only contemplating selling, call on a Realtor first to help develop and carry out your plan. They will ensure you are doing everything right concerning the condition of the house, the marketing and the all-important price you’ll ask.

HEAVEN CAN WAIT, BUT CAN YOU? First and foremost, don’t wait to plan. Take advantage of the pre-listing time and strategize for maximum potential.

Buyers may be sitting on the sidelines with a wait-and-see attitude but you don’t have to. Advance planning and accurate research is on your side. Your best option to optimize the sale of your house is to seek the immediate advice of a professional. Let a Realtor’s experience guide you through the ins and outs of this difficult process; specifically a Realtor that specializes in your particular neighborhood.

As with a business plan, you want to attract the right buyers by understanding your competition and positioning your house properly. Most people don’t take the time to plan.

WHAT’S THE PLAN, STAN? A good business plan helps the seller determine what business they are in and where they want to take it. Key to the plan is to research the feasibility of the business and determine the best pricing for goods and services.

The ultimate goal is to identify potential customers and persuade them to buy.

Let’s do that for the sale of your house: • The Price is Right – Consult with your Realtor to determine what your home is worth. Get accurate comparisons.

Your Realtor has the knowledge and expertise regarding active listings and sold listings of similar homes in your neighborhood.

• Keep Up with the Joneses – Survey the attributes of your neighboring competition: we know you love your home, but what do they have that you don’t?

• Prepare to Repair – Focus on details, repairs and cosmetic improvements before major improvements.

Make a list, price it and prioritize. If there’s funding and time for bigger items, do them last.

Superheroes Phoenix Symphony Hall, June 6th 602.495.1117 or phoenixsymphony.org Fulfill your childhood dreams of becoming a superhero, or being rescued by one, through these musical tributes to our beloved caped crusaders.

Conducted by Michael Krajewski, such theme songs include Spiderman, Batman, Superman and many more. Before the performance begins bring your child in their favorite superhero costume, for the first ever Superhero contest. Winners are invited to show off all of their super powers!

Chitty Chitty Bang Bang ASU Gammage, June 6th-21st 480.965.3434 or asugammage.com Chitty Chitty Bang Bang we love you! Relive your memories of this magical story and bring your children to experience it for the first time. Watch the enchanting tale unfold as, what seems to be an ordinary sports car, magically comes to life. You will be amazed at the sensational sets, award-winning music and the stunning special effects that will have you believing in flying cars.

Chateau St. Jean Winery Dinner Morton’s Steakhouse, June 11th 480.951.4440 or mortons.com Morton’s and Chateau St. Jean Winery are pairing up to bring you an exquisite four-course dinner accompanied with inspired wine pairings. Guests will enjoy dishes such as broiled sea scallops served with apricot chutney and, of course, Morton’s renowned single-cut filet mignon. Foodies may find themselves in culinary heaven!

George Lopez Dodge Theatre, June 12th-13th 602.379.2800 or livenation.com Self-proclaimed “America’s Mexican”, George Lopez is sharing his comical genius with audiences during this 2009 tour. Not only is George a well-known comedian, he also has his own TV show under his belt as well as his recent role in Beverly Hills Chihuahua as the voice of Papi. Don’t miss his side-splitting wit as he brings humor to growing up in a Mexican-American community.

Mix dry ingredients together. Add cold butter and mix until you have hazelnut size lumps.

Cut 3-inch circles of the bread pudding with a 3-inch ring mold; keep the bread pudding in the bottom of the ring. Fill it up with the caramelized apple slices until almost at the edge of the ring and top it with the Brown Sugar Streusel. Bake at 375 degrees for 10 minutes until the streusel is golden brown in color.

JUNE 2009

• De-Personalize and De-Clutter – Make your home appealing to the mystery buyer and get rid of distractions.

Store away personal pictures and trophies, clean out the closets, clear off the countertops and clean till it sparkles.

• First Impressions Count – Capture immediate drive-by and walk-in attention. Stand out from the crowd with eye-catching curb appeal. Your entrance should create the WOW factor.

• Leave it in the Hands of Your Professional – You’ve done your homework, created a plan, made your improvements and positioned your house properly. You’re way ahead of the game now!

Twilight Tours Deer Valley Rock Art Center, June 13th & 27th 623.582.8007 or dvrac.asu.edu The Deer Valley Rock Art Center is a museum, nature preserve and archaeological site with the largest concentration of Native American rock art in the Phoenix Valley. Get out your hiking boots and flash lights and embark upon a guided evening tour of the Hedgpeth Hill’s spectacular rocks. This remarkable petroglyph site is now listed on the National Register of Historic Places.

11th Annual AZ’s Finest Ritz Carlton, June 20th 602.685.1103 or azsfinest.org Benefiting the Cystic Fibrosis Foundation, this annual dinner honors successful young adults who work hard to give back to our community. This lovely evening includes a reception and silent auction, followed by a fabulous dinner and honoree showcase. What a great way to spend an evening, enjoying a lovely night out while donating to such a worthy cause.

I scream, you scream, we all scream for ice cream! With the average American consuming 23.2 quarts of some kind of frozen dairy product a year, eating ice cream might be considered a national pastime. Seriously, in times of celebration and solace do you reach for a cone or go to a baseball game? Perhaps both!

Let’s start off with a little freeze-teeze.

Get the answers when you’re done reading. (No peeking!)

Featuring Meritage Steakhouse at JW Marriott Desert Ridge Resort & Spa 5350 E. Marriott Dr. • Phoenix 480.293.3939 or jwdesertridgeresort.com

BLUEBERRY SOUR CREAM ICE CREAM WITH APPLE STREUSEL CRUNCH Ice Cream 1 cup blueberries 1 cup sugar

TRUE OR FALSE 1. More ice cream is sold on Sunday than any other day of the week.

2. Ice cream is a good source of calcium.

3. Ice cream is low in protein.

4. One out of five ice cream eaters share with their dog or cat.

5. One of the major ingredients in ice cream is air.

6. Less expensive ice cream has less fat.

7. Low fat ice cream and low fat ices are lower in calories.

8. The average number of licks for a single scoop is about 50.

9. The most amount of ice cream eaters are between the ages of 2 and 12 and over 45.

10. Chocolate is the most popular flavor.

1 tsp. lemon juice 2 cups sour cream

Mix the ingredients together. Spin the mix in an ice cream freezer until frozen. Store in the freezer.

Caramelized Apple Filling 8 apples 1 cup butter 1 cup brown sugar 1 cup sugar 1/2 tsp. cinnamon Core and peel apples and cut into thin slices. Melt butter, sugar and cinnamon to dissolve over medium heat. Add apple slices and cook until juices come out. Strain the apples from the rest of the juice and set aside.

Bread Pudding 2 cups half and half 1 cup sugar 1/4 tsp. vanilla Two pinches cinnamon

2 cups milk 2 eggs Pinch nutmeg 5 large croissants

Cut the croissants into 1-inch cubes and toast until golden brown.

Whisk the rest of the ingredients together in a bowl. Pour the mix into the croissants and transfer onto a cookie sheet. Make sure the thickness of the pudding is not more than 1 1/2 inches. Let it stand for half an hour. Bake in a water bath at 300 degrees for 30 minutes or until done and there is no liquid left.

Brown Sugar Streusel 2 cups flour 1/3 cup brown sugar 1/8 tsp. salt 1 tsp. cinnamon 1 tsp. almond extract

SUCH DELICIOUS ORIGINS As far back as the 4th century B.C. ice cream was used to nourish the soul. It is said that the Roman emperor Nero (A.D. 37-68) ordered his men to bring him ice from the mountains to be combined with fruit toppings for his pleasure.

1 cup sugar 1/3 cup quick oats 1 cup butter 1 tsp. vanilla

King Tang (A.D. 618-97) of Shang, China made his own milk and ice concoctions. Over time ice cream was brought from China to Europe and ice cream-type recipes started appearing among the Italian and French royalty. Once it hit America, politicos such as George Washington and Thomas Jefferson served it to their guests. Dolly Madison brought it to her tables in 1812.

In 1845 Americans started making their own ice cream with the invention of the hand-cranked freezer.

In 1984, President Ronald Reagan declared July to be National Ice Cream Month and National Ice Cream Day on the third Sunday of the month. This year celebrate this sweet treat on July 19th.

GOOD FOR YOU, GOOD FOR THE ECONOMY When eaten as part of a balanced diet and in reasonable portions, the mental benefits of eating ice cream far outweigh any physical downfalls. Check out how to enjoy a little ice cream every day and still fit into your skinny clothes in The Ice Cream Diet by Holly McCord.

In 1900 ice cream hit the economic map with the founding of the IICA (International Ice Cream Association).

With ice cream generating more than $21 billion in annual sales and employing thousands of workers, such a regulatory association was greatly needed. Ice cream is a huge factor in the success of the nation’s dairy industry with 9 percent of milk produced in the U.S. contributing to the manufacture of it.

SO MANY CHOICES Vanilla, strawberry, chocolate. Cone, sundae, sandwich. With so many flavors of ice cream and so many ways to eat it, it’s no wonder simple vanilla leads the way.

According to the International Dairy Foods Association, vanilla accounts for the largest amount of ice cream consumption, followed by chocolate, chocolate chip, butter pecan, strawberry, Neapolitan, cookies and cream, and rocky road. Cookie dough, cherry vanilla and coffee complete the top 10.

WILD, WEIRD & BE WARY

We’ve found some unconventional ice cream flavors in our travels but nothing less appetizing than the Japanese inspired soy-sauce flavor.

Here are some other wacky flavors popular in Asia.

Octopus Squid Sweet Potato Fried Eggplant Corn Wasabi

Fish Ox Tongue Crab Koshihikari Rice Shrimp Soy Sauce

1.True 2.True 3.False 4.True 5.True 6.True 7.False 8.True 9.True 10.False

Serve while still warm with a scoop of Blueberry Sour Cream Ice Cream.

If you were selling your business, you would develop a business plan. Considering your house is probably your number one asset, it deserves the same attention. You want to attract the best audience in the most efficient manner and sell for the best price. With the unprecedented competition in today’s tough market, you need to be as aggressive as possible. You may feel your house is unique but with more homes for sale than ever before, it’s only one of hundreds or thousands to the buyers out there.

Every business needs a trusted advisor. So does the sale of your home. Engage the help of an expert. Even if you’re only contemplating selling, call on a Realtor first to help develop and carry out your plan. They will ensure you are doing everything right concerning the condition of the house, the marketing and the all-important price you’ll ask.

HEAVEN CAN WAIT, BUT CAN YOU? First and foremost, don’t wait to plan. Take advantage of the pre-listing time and strategize for maximum potential.

Buyers may be sitting on the sidelines with a wait-and-see attitude but you don’t have to. Advance planning and accurate research is on your side. Your best option to optimize the sale of your house is to seek the immediate advice of a professional. Let a Realtor’s experience guide you through the ins and outs of this difficult process; specifically a Realtor that specializes in your particular neighborhood.

As with a business plan, you want to attract the right buyers by understanding your competition and positioning your house properly. Most people don’t take the time to plan.

WHAT’S THE PLAN, STAN? A good business plan helps the seller determine what business they are in and where they want to take it. Key to the plan is to research the feasibility of the business and determine the best pricing for goods and services.

The ultimate goal is to identify potential customers and persuade them to buy.

Let’s do that for the sale of your house: • The Price is Right – Consult with your Realtor to determine what your home is worth. Get accurate comparisons.

Your Realtor has the knowledge and expertise regarding active listings and sold listings of similar homes in your neighborhood.

• Keep Up with the Joneses – Survey the attributes of your neighboring competition: we know you love your home, but what do they have that you don’t?

• Prepare to Repair – Focus on details, repairs and cosmetic improvements before major improvements.

Make a list, price it and prioritize. If there’s funding and time for bigger items, do them last.

Superheroes Phoenix Symphony Hall, June 6th 602.495.1117 or phoenixsymphony.org Fulfill your childhood dreams of becoming a superhero, or being rescued by one, through these musical tributes to our beloved caped crusaders.

Conducted by Michael Krajewski, such theme songs include Spiderman, Batman, Superman and many more. Before the performance begins bring your child in their favorite superhero costume, for the first ever Superhero contest. Winners are invited to show off all of their super powers!

Chitty Chitty Bang Bang ASU Gammage, June 6th-21st 480.965.3434 or asugammage.com Chitty Chitty Bang Bang we love you! Relive your memories of this magical story and bring your children to experience it for the first time. Watch the enchanting tale unfold as, what seems to be an ordinary sports car, magically comes to life. You will be amazed at the sensational sets, award-winning music and the stunning special effects that will have you believing in flying cars.

Chateau St. Jean Winery Dinner Morton’s Steakhouse, June 11th 480.951.4440 or mortons.com Morton’s and Chateau St. Jean Winery are pairing up to bring you an exquisite four-course dinner accompanied with inspired wine pairings. Guests will enjoy dishes such as broiled sea scallops served with apricot chutney and, of course, Morton’s renowned single-cut filet mignon. Foodies may find themselves in culinary heaven!

George Lopez Dodge Theatre, June 12th-13th 602.379.2800 or livenation.com Self-proclaimed “America’s Mexican”, George Lopez is sharing his comical genius with audiences during this 2009 tour. Not only is George a well-known comedian, he also has his own TV show under his belt as well as his recent role in Beverly Hills Chihuahua as the voice of Papi. Don’t miss his side-splitting wit as he brings humor to growing up in a Mexican-American community.

Mix dry ingredients together. Add cold butter and mix until you have hazelnut size lumps.

Cut 3-inch circles of the bread pudding with a 3-inch ring mold; keep the bread pudding in the bottom of the ring. Fill it up with the caramelized apple slices until almost at the edge of the ring and top it with the Brown Sugar Streusel. Bake at 375 degrees for 10 minutes until the streusel is golden brown in color.

JUNE 2009

• De-Personalize and De-Clutter – Make your home appealing to the mystery buyer and get rid of distractions.

Store away personal pictures and trophies, clean out the closets, clear off the countertops and clean till it sparkles.

• First Impressions Count – Capture immediate drive-by and walk-in attention. Stand out from the crowd with eye-catching curb appeal. Your entrance should create the WOW factor.

• Leave it in the Hands of Your Professional – You’ve done your homework, created a plan, made your improvements and positioned your house properly. You’re way ahead of the game now!

Twilight Tours Deer Valley Rock Art Center, June 13th & 27th 623.582.8007 or dvrac.asu.edu The Deer Valley Rock Art Center is a museum, nature preserve and archaeological site with the largest concentration of Native American rock art in the Phoenix Valley. Get out your hiking boots and flash lights and embark upon a guided evening tour of the Hedgpeth Hill’s spectacular rocks. This remarkable petroglyph site is now listed on the National Register of Historic Places.

11th Annual AZ’s Finest Ritz Carlton, June 20th 602.685.1103 or azsfinest.org Benefiting the Cystic Fibrosis Foundation, this annual dinner honors successful young adults who work hard to give back to our community. This lovely evening includes a reception and silent auction, followed by a fabulous dinner and honoree showcase. What a great way to spend an evening, enjoying a lovely night out while donating to such a worthy cause.

Your Trusted Advisors In Real Estate TODAY’S MARKET FACTS

ZIP code 85255 single family homes: • In April 2009, 52 homes sold, which is a 19% decrease from April 2008.

• 2009 year-to-date unit sales are up 6% to the same period last year.

• Inventory is down 12% to last April.

• Homes currently under contract are up 21% and represent the highest number of homes under contract for any month in the last 24 months.

• With sales up and inventory down, the months of supply has dropped to 11.4 months. One year ago supply was 16.1 months, and last month it was 12 months.

• Distressed properties in 85255 represent 14% of the listings, 42% of homes sold YTD and 54% of those under contract.

June 2009

REAL ESTATE ACTIVITY IN

We are beginning to see signs of a marked inventory decrease in most local markets and record numbers of homes coming under contract. There is pent up demand of buyers who have postponed purchasing a home for fear of further market declines. At the point buyers generally get the green light that it is a good time to buy, prices may actually accelerate because of a limited and finite supply.

In Celebration of Ice Cream A Summertime Ritual

“Optimists are right. So are pessimists. It’s up to you to choose which you will be.” — Harvey MacKay

Would you like to receive automatic updates regarding your real estate neighborhood activity?

Have a question about real estate? Email your questions to us at the email addresses below.

FEATURED PROPERTY 7,500 sq. ft. • 4/5 Bedrooms • Den • Exercise Room • Two Bedroom Casita Offered at $4,000,000 (not in MLS) www.tourfactory.com/457881 Dramatic views of the McDowell Mountains, Pinnacle Peak, Troon Mountain and the city lights below surround this magnificent estate located in Ladera Vista, a privately gated enclave of just twenty-one home sites, spread across sixty acres of the high Sonoran Desert. Absolutely stunning!

SUBDIVISION # SS/ AVG AVG AVG $/ AVG DAYS

HOMES LO* PRICE SQ. FT. SQ. FT. ON MKT April 2009 Sales 5 4 $797,020 3,732 $214 111 Los Gatos 1 1 $350,000 2,552 $137 65 Pinnacle Peak Country Club 1 1 $475,000 3,077 $154 185 Pinnacle Peak Estates 1-3 2 2 $855,050 4,180 $205 122 Pinnacle Paradise 1 0 $1,450,000 4,669 $311 73

KIM BAKER Cell: 480.205.1345

MARY LYNN STENZEL Cell: 602.418.8537

Kim.Baker@SothebysRealty.com

MaryLynn.Stenzel@SothebysRealty.com

Russ Lyon | Sotheby’s International Realty 23733 N. Scottsdale Road, Suite 200 • Scottsdale, AZ 85255

Jan-Apr YTD 2009 Sales Canyon Heights Los Gatos Pinnacle Paradise Pinnacle Peak County Club Pinnacle Peak Estates 1-3 Pinnacle Peak Shadows Pinnacle Peak Vistas 1-4 Prado Estates Sonoran Highlands

21 1 2 1 4 4 1 5 2 1

12 $1,444,427 7,997 1 $2,300,000 13,000 2 $925,000 3,926 0 $1,450,000 4,669 2 $758,750 3,755 3 $657,025 3,638 0 $485,000 2,733 4 $938,980 4,471 0 $6,095,000 9,767 0 $1,700,000 5,241

$181 $177 $236 $311 $202 $181 $177 $210 $624 $324

300 348 158 73 175 191 363 149 1513 328

Currently Under Contract Canyon Heights Pinnacle Peak Estates 1-3 Pinnacle Peak Heights 1-4 Pinnacle Paradise Pinnacle Peak Shadows

10 1 5 1 1 2

9 1 5 0 1 2

$227 $383 $145 $328 $188 $143

281 896 187 667 31 140

$967,980 4,255 $2,750,000 7,171 $505,380 3,475 $2,995,000 9,143 $589,000 3,125 $409,450 2,868

Produced by Desert Lifestyle Publishing • 480.460.0996

Do You Have A Plan In Place?

A Chef Inspired Gourmet Treat

Meritage Steakhouse’s Blueberry Sour Cream Ice Cream

Pinnacle Peak’s

Hot Real Estate Listings

All information is deemed reliable but not guaranteed.

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

Selling Your Home

ISSN-1939-9650