Don’t list your Short Sale with someone who isn’t a SPECIALIST in Rio Verde, and a CERTIFIED SHORT SALE EXPERT!
Bonnie Burke, PC • RE/MAX Excalibur 8510 E. Shea Blvd. #100 Scottsdale, AZ 85260
Rio Verde Foothills May | June 2012
RETURN SERVICE REQUESTED
I offer you both and I’d like to ask for your business! Please give me a call and we can discuss a strategy and all of your options.
Rio Verde Real Estate Recap HOMES - Currently, there are 54 active homes on the market and 32 homes under contract. LAND - Currently, there are 229 active lots on the market and 13 lots under contract.
Rio Verde Land The following lots have closed since last publication: 28710 N. 139th Place
1.11 acres
$9,000
33505 N. 139th Street
1.28 acres
$16,100
32200 N. 164th Street
1.10 acres
$22,500
17400 E. Cavedale
1.33 acres
$32,500
13650 E. Villa Cassandra
1.00 acre
$45,000
17400 E. Cavedale
2.11 acres
$45,000
17400 E. Cavedale
1.80 acres
$45,000
17400 E. Cavedale
4.58 acres
$45,000
27030 N. 174th Street
4.91 acres
$45,000
31119 N. Visado Court
2.50 acres
$75,000
27100 N. 152nd Street
4.70 acres
$95,000
17400 E. Cavedale
7.58 acres
$119,000
17400 E. Cavedale
10.45 acres
$119,000
176th St. N. of Lone Mtn
10.40 acres
$220,000
BONNIE BURKE ABR, CDPE, CIAS, CLHMS, CRS, e-PRO, GRI
Integrity Based, Service Driven
480.720.8001 Cell Bonnie@BonnieBurke.com www.BonnieBurke.com
Great price on this spectacular home with 4249 sq. ft., 5 bedrooms, 4 baths, guest home with full kitchen. Detached 4th car garage with bonus/yoga room and balcony to capture some amazing views. Superb backyard with large grass area, pebble tec pool, fireplace, plus dual patios, built-in barbeque, perfect for entertaining. Large open kitchen/ family room, granite countertops. Front courtyard is perfect for sippin’ coffee and watching the sunrise over Four Peaks or evenings in front of fireplace. Wonderful family home with something for everyone. All on 1.1 acres. Only $499,000.
Address Sq. Ft. / Bed / Bath / Acre ACTIVE SINCE LAST PUBLICATION: 31604 N 144th St 2,371 / 3 / 2 / 1 - 1.9 Acres 30507 N 164 St 4,315 / 4 / 3.5 / 2 - 4.9 Acres 14612 E Desert Vista Trl 2,130 / 3 / 2 / 1 - 1.9 Acres 14843 E Roy Rogers Rd 2,780 / 4 / 2.5 / 1 - 1.9 Acres 13842 E Old Paint Trl 3,519 / 5 / 4 / 1 - 1.9 Acres 29618 N 144th Way 4,249 / 5 / 4 / 1 - 1.9 Acres 33408 N 140th Way 3,800 / 4 / 3.5 / 1 - 1.9 Acres 31107 N 161 Pl 4,240 / 4 / 4 / 1 - 1.9 Acres 31005 N 160th St 4,500 / 5 / 5 / 1 - 1.9 Acres 27505 N 130th Pl 4,095 / 3 / 4.5 / 2 - 4.9 Acres 28206 N Rio Mountain Ct 4,476 / 5 / 4.5 / 1 - 1.9 Acres 13804 E. Westland Rd 8,900 / 5 / 5.5 / 1-1.9 Acres 17340 E. Morning Vista Ct 3,863 / 3 / 4 / .50-1 Acre 13652 E Old Paint Trl 4,060 / 4 / 4.5 / 10+ Acres PENDING SALES SINCE LAST PUBLICATION: 16620 E Creosote Dr 2,284 / 4 / 3 / 1 - 1.9 Acres 28209 N 154th Way 2,394 / 4 / 2.5 / 1 - 1.9 Acres 27206 N 176th St 2,837 / 4 / 2 / 2 - 4.9 Acres 14325 E Cavedale Dr 2,080 / 3 / 2 / 1 - 1.9 Acres 17421 E Quail Track Rd 2,971 / 3 / 2 / 1 - 1.9 Acres 31707 N 142nd St 3,372 / 4 / 3 / 2 - 4.9 Acres 29905 N 166th Way 3,456 / 4 / 3.5 / 1 - 1.9 Acres 28503 N 138th Pl 2,876 / 4 / 4 / 1 - 1.9 Acres 30111 N 161 Way 3,564 / 4 / 3.5 / 1 - 1.9 Acres 14024 E Mark Ln 3,000 / 4 / 2 / 1 - 1.9 Acres 27828 N 143rd St 6,400 / 4 / 4.5 / 1 - 1.9 Acres 27119 N 141st Pl 2,453 / 3 / 2.5 / 1 - 1.9 Acres 16323 E Calle De Los Flores Dr 3,543 / 3 / 4.5 / 2 - 4.9 Acres 14524 E Balancing Rock Rd 3,265 / 4 / 3 / 1 - 1.9 Acres 14037 E Red Bird Rd 3,708 / 5 / 3 / 1 - 1.9 Acres 15449 E Lomas Verde Ln 3,936 / 4 / 3.5 / 1 - 1.9 Acres 15540 E Horned Owl Trl 3,601 / 4 / 3.5 / 1 - 1.9 Acres 31105 N 163rd St 6,532 / 4 / 4.5 / 2 - 4.9 Acres 13723 E Casey Ln 3,370 / 4 / 2.75 / 1 - 1.9 Acres 28604 N 144th St 4,654 / 4 / 4.5 / 1 - 1.9 Acres 27808 N 156th St 3,307 / 5 / 4 / 1 - 1.9 Acres 14109 E Lowden Ct 5,401 / 4 / 4.5 / 2 - 4.9 Acres 14026 E Windstone Ct 4,650 / 4 / 4.5 / 2 - 4.9 Acres SOLD SINCE LAST PUBLICATION: 34706 N 137th St 3,260 / 3 / 2.5 / 1 - 1.9 Acres 15316 E Roy Rogers Rd 1,542 / 3 / 2 / 1 - 1.9 Acres 15221 E Roy Rogers Rd 2,198 / 3 / 2 / 1 - 1.9 Acres 16247 E Bajada Dr 2,373 / 4 / 3.5 / 1 - 1.9 Acres 28423 N 148th St 3,208 / 4 / 2.5 / 1 - 1.9 Acres 35115 N 138th Way 3,222 / 4 / 2.5 / 1 - 1.9 Acres 15312 E Red Bird Rd 3,555 / 5 / 3 / 1 - 1.9 Acres 15428 E Cavedale Dr 3,067 / 4 / 2.5 / 2 - 4.9 Acres 29713 N 164th St 3,597 / 4 / 3 / 1 - 1.9 Acres 30319 N 139th St 4,458 / 5 / 4 / 1 - 1.9 Acres 13630 E Bobwhite Way 3,613 / 5 / 3 / 1 - 1.9 Acres 31607 N 138th St 3,429 / 4 / 3.5 / 1 - 1.9 Acres 31912 N 141st St 4,804 / 6 / 5 / 1 - 1.9 Acres 29623 N 152nd Way 3,980 / 5 / 4 / 1 - 1.9 Acres 29705 N 141st Pl 3,222 / 4 / 3 / 1 - 1.9 Acres 33507 N 139th Ter 3,972 / 5 / 3.5 / 2 - 4.9 Acres 28206 N Rio Mountain Ct 4,476 / 4 / 4.5 / 1 - 1.9 Acres 14628 E Wildcat Dr 3,243 / 3 / 3 / 5 - 9.9 Acres
Days On Market
List Price
16 17 26 41 50 11 47 23 40 9 21 54 31 10
$229,900 $381,900 $398,000 $399,900 $425,000 $499,000 $514,999 $565,000 $579,000 $619,900 $749,900 $999,000 $1,395,000 $2,500,000
21 78 157 85 38 9 118 17 172 75 294 123 14 9 45 21 24 22 80 44 51 21 140 List Price $112,900 $199,900 $269,900 $345,000 $355,000 $359,900 $400,000 $475,000 $449,888 $439,900 $415,900 $459,900 $499,000 $549,900 $549,900 $575,000 $580,000 $949,000
$235,000 $240,000 $254,900 $270,000 $275,000 $357,000 $369,000 $375,000 $390,000 $412,300 $425,000 $425,000 $429,000 $440,000 $449,000 $499,900 $525,000 $529,900 $535,000 $539,900 $640,000 $874,900 $999,000 Sold Price $107,000 $207,000 $265,000 $335,000 $355,000 $359,000 $360,000 $400,000 $421,000 $439,900 $440,500 $441,500 $481,500 $519,500 $525,000 $565,000 $580,000 $950,000
DOM 46 13 18 28 97 11 201 192 55 10 15 35 81 235 89 36 157 22
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS. 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
ISSN-1939-9421
Stylizing
the Heart of the Home
A Housing Shortage In The Valley? Demand is Up, Supply is Low
Perfect Poolside Fare
Windsor’s Mixed-Grain Salad
Featured Cover Property Presented by Bonnie Burke View Complete Listing Information on the Back Page
In Good Taste
Event Calendar
Featuring Windsor 602.279.1111 | WindsorAZ.com
MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!
MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey
Does your kitchen need an upgrade? Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes. When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.” Appliances are now not only energy efficient, but are often multi-functional. For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens
Combine orange zest and juice, shallots, vinegar and honey in a blender. With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt. FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon. FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut
1 cup cooked barley
Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix. FOR THE ROASTED BEETS: 1 bunch baby beets
1 Tbs. red or white wine vinegar (optional)
Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters. TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish. Servings: 6 to 8
and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement. Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials. “Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.” Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.
The style of the cabinets will help set the stage for the personality of the kitchen. Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space. Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color
and character that backsplashes will bring to the kitchen is a key focal point. “Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.” Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”
HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way. The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes. However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency. With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0
and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven. Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement. Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.
By: Mike Orr, The Cromford Report
It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.
Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention. Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks! Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits. Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.
In Good Taste
Event Calendar
Featuring Windsor 602.279.1111 | WindsorAZ.com
MAY | JUNE 2012 Friday Night Franks Fort McDowell Adventures, May 11th, 18th, 25th 480.816.6465 | FortMcDowellAdventures.com When’s the last time you experienced a cowboy-style cookout in the desert? Bring your sweetie or your whole family for live entertainment, horseshoes, wagon rides and of course a good old-fashioned wiener roast. Finish your night with s’mores and some stargazing!
MIXED-GRAIN SALAD FOR THE ORANGE-BASIL VINAIGRETTE: Zest of 1 orange 1/2 cup olive oil 1/2 cup orange juice 1/2 cup canola oil 1 tsp. minced shallot 1/4 cup chopped fresh basil 3 Tbs. white wine vinegar pinch salt 2 Tbs. honey
Does your kitchen need an upgrade? Not a total makeover per se, but some updates here and there? There are four elements in your kitchen that when altered, can dramatically transform your space: appliances, stove hoods, cabinetry and backsplashes. When questioned on the importance of kitchen design and planning, Debra May Himes of Debra May Himes Interior Design & Associates, LLC suggests that there should be great care when designing the kitchen space. “The adage ‘form follows function’ certainly applies to the current trends in kitchens today,” says Debra, “and that includes appliances, cabinetry, and kitchen accessories among many other things.” Appliances are now not only energy efficient, but are often multi-functional. For example, some microwaves may also be used as a convection oven. Formerly found in the higher-end appliances, oven and warming drawer combinations are now offered in the more economically priced appliances. There are large ovens
Combine orange zest and juice, shallots, vinegar and honey in a blender. With blender running, slowly drizzle in the oils. Turn off blender and fold in the basil and salt. FOR THE ROASTED VEGETABLES: 2 cups julienne-cut zucchini 1 cup cherry tomato halves 2 cups julienne-cut yellow squash 1 cup peeled & diced butternut squash 2 cups shredded carrots 1/2 cup dried currants olive oil 1 Tbs. fresh basil chiffonade (long thin ribbons) salt and pepper 1 1/2 tsp. fresh, torn tarragon leaves Heat oven to 350. Combine zucchini, yellow squash and carrots in a bowl. Drizzle lightly with oil and season with salt and pepper. Place on foil-lined baking pan. On another foil-lined pan, place tomatoes cut side up. Drizzle with a little oil and season with salt and pepper. Place diced butternut squash on a third foil-lined pan; drizzle with oil and season with salt and pepper. Roast all vegetables at 350 degrees. Each will take a different amount of time to cook, so check often, removing the vegetables when they are tender. When all vegetables are done cooking, allow them to cool to room temperature. Mix them together, and add currants, basil and tarragon. FOR THE MIXED GRAINS: 1 cup cooked black quinoa 1 cup cooked kamut
1 cup cooked barley
Combine all the cooked grains and refrigerate until cool. When completely cool, add to the roasted-vegetable mix. FOR THE ROASTED BEETS: 1 bunch baby beets
1 Tbs. red or white wine vinegar (optional)
Remove tops from beets, leaving just a little stem above the beet. Rinse off any debris. Place in a baking dish and add just enough water to cover the beets a quarter of the way up. Add the vinegar. Cover with a lid or foil and roast at 350 degrees until a knife can be easily poked through the beet. (It can take up to 45 minutes, depending on size of beets.) Allow to cool to room temperature, then drain the liquid and peel the beets. Cut into quarters. TO ASSEMBLE: 6 to 8 cups mixed salad greens 1 cup crumbled goat cheese orange-basil vinaigrette roasted beets mixed grain and roasted vegetable mixture Toss the mixed greens lightly with the vinaigrette and dish onto a serving plate. Top the greens with the grain-vegetable mix. Crumble goat cheese on top. Garnish with roasted beets around the outside of the dish. Servings: 6 to 8
and small ovens, large dishwashers and dishwasher drawers. One can find indoor built-in steamers and grills. There are so many choices for each personal need and kitchen requirement. Kitchen hoods have achieved their own level of decorative importance. Clad in tile, travertine, stainless steel, or wood; hoods today can range from large and major design elements for the kitchen, to simply fun and whimsical essentials. “Designing the right hood for the kitchen is significant,” says Debra. “The hood is a major design factor in the kitchen and can often set the tone not only for the design for the kitchen but sometimes the whole house.” Choosing the right cabinets for the kitchen should also be a high priority in design details. Pre-planning for how the kitchen will be used before the cabinets are built will add more versatility and functionality to the space. Of course, if your overall cabinet structure is up to par, perhaps a simple refinish or re-facing can give you the outcome you desire.
The style of the cabinets will help set the stage for the personality of the kitchen. Cabinets with raised panel doors and decorative applied moldings are typically found in a traditional style of design, while a contemporary kitchen may include cabinets with solid panel doors and a full overlay design. Adding interesting cabinet pulls also helps to add personality to the space. Backsplashes can be another important design component for the kitchen. Not only functional in that they help protect from splashes and grease spatters that occur during food preparation, the color
and character that backsplashes will bring to the kitchen is a key focal point. “Sometimes for contemporary kitchens, granite backsplashes are enough,” says Debra. “But I like to add an interesting extra design element over an important space such as the cooktop that adds a bit of drama to the kitchen design.” Debra notes, “When working with clients on the design of their homes, much of our time is spent investigating design details and opportunities for their kitchens. It is one of the most important and high use spaces in the home.”
HAS VALLEY HOUSING EVOLVED INTO A SELLER’S MARKET? After a slump during the third quarter of 2011, most of the Greater Phoenix housing market has improved dramatically for sellers and a strong recovery is now well under way. The supply of single family and condominium homes started declining in December 2010 and is now very low, at levels we last saw in the summer of 2005 during the peak of the housing bubble. With interest rates at record lows, the economy showing signs of life, and prices, although rising, still very affordable compared with earnings and rents, buyers have plenty of reasons to purchase homes. However the supply of homes is now so tight at the low-to-medium price ranges that buying one is often quite a struggle, primarily due to the intense competition for the few homes available for sale. Public sentiment toward housing still remains relatively poor but is now starting to improve as signs increase that the worst of the housing crisis is over. Loans are still hard to qualify for, and a financed buyer is usually at a distinct disadvantage when competing against a cash buyer who is prepared to waive their appraisal contingency. With prices that have declined from their peak in June 2006 more than almost anywhere in the US, the Valley still has a large number of homeowners with loans that exceed the market value of their home. Following the launch of HARP 2.0
and the recent settlement between the states and five large lenders, these homeowners may have more of an opportunity to refinance into low-interest loans. This will not resolve their underwater condition, but perhaps it will reduce their monthly payments and allow them to feel less financial stress. At the moment the success of these programs remains to be proven. Given that wholesale reductions in loan principals appear unlikely, the main mechanism for resolving our underwater loan problems is for market prices to rise. As of the end of March 2012, prices have in fact increased by an average of 18% since September 2011 and are currently on a strong upward trend. However that trend is fueled mainly by the rise in the prices of lender-owned properties, auctioned homes and flips. Normal resales and short sales have yet to participate strongly in the improving price movement. Another sector that is not participating fully in the upward trend is the luxury market, where supply, though slightly lower than in 2010, is still adequate to meet buyer demand. On the other hand, relatively low distress levels in this sector mean there is also little downward pressure on pricing. Consequently, price stability has been established and luxury home sellers can now wait for the rising tide of prices from the bottom end of the market to gradually lift values of luxury properties.
By: Mike Orr, The Cromford Report
It will take many months of strong improvement for the negative equity problem to abate, and there is little chance of pricing achieving the heights of 2006 in the medium term. However we now face a severe supply/demand imbalance that favors sellers and sets us up for the probability of a significant rise in pricing at the lower and middle sectors of the market in the immediate future.
Arizona BBQ Festival Salt River Fields, May 19th – 20th AZBBQFestival.com If you love to eat, this foodie fest is a must-do. Teams of BBQ competitors will tempt your taste buds while live music, a cooking demo stage, kids’ zone and Whiskey Row – a tent where signature whiskey cocktails are crafted for your pleasure – all vie for your attention. Arizona Diamondbacks vs. LA Dodgers Chase Field, May 21st – 23rd 602.462.6500 | Dbacks.com Take me out to the ballgame! Can you think of a more pleasant way to spend your time than at this three-game home stand against the Dodgers? Don’t forget to bring your glove to score yourself a foul ball and be sure to indulge in timeless ballpark fare of peanuts and Cracker Jacks! Million Dollar Quartet Gammage Auditorium, June 5th – 10th 480.965.3434 | ASUGammage.com On December 4, 1956, rock ‘n’ roll icons Elvis Presley, Johnny Cash, Jerry Lee Lewis and Carl Perkins were gathered together by Sam Phillips, the “Father of Rock ’n’ Roll” at Sun Records in Memphis for what would be one of the greatest jam sessions of all time. Million Dollar Quartet brings that legendary night to life with an irresistible tale of broken promises, secrets, betrayal and celebrations featuring timeless hits. Music in the Garden Desert Botanical Garden, June 8th 480.481.8188 | DBG.org After receiving multiple standing ovations in their performance honoring The Beatles, Crossing 32nd Street Music Ensemble returns to Desert Botanical Garden to perform A Musical Tribute to The Who. This tribute to one of rock music’s most influential and controversial bands includes classic Who hits including My Generation, I Can See for Miles, Baba O’Riley, Behind Blue Eyes and much more.
Don’t list your Short Sale with someone who isn’t a SPECIALIST in Rio Verde, and a CERTIFIED SHORT SALE EXPERT!
Bonnie Burke, PC • RE/MAX Excalibur 8510 E. Shea Blvd. #100 Scottsdale, AZ 85260
Rio Verde Foothills May | June 2012
RETURN SERVICE REQUESTED
I offer you both and I’d like to ask for your business! Please give me a call and we can discuss a strategy and all of your options.
Rio Verde Real Estate Recap HOMES - Currently, there are 54 active homes on the market and 32 homes under contract. LAND - Currently, there are 229 active lots on the market and 13 lots under contract.
Rio Verde Land The following lots have closed since last publication: 28710 N. 139th Place
1.11 acres
$9,000
33505 N. 139th Street
1.28 acres
$16,100
32200 N. 164th Street
1.10 acres
$22,500
17400 E. Cavedale
1.33 acres
$32,500
13650 E. Villa Cassandra
1.00 acre
$45,000
17400 E. Cavedale
2.11 acres
$45,000
17400 E. Cavedale
1.80 acres
$45,000
17400 E. Cavedale
4.58 acres
$45,000
27030 N. 174th Street
4.91 acres
$45,000
31119 N. Visado Court
2.50 acres
$75,000
27100 N. 152nd Street
4.70 acres
$95,000
17400 E. Cavedale
7.58 acres
$119,000
17400 E. Cavedale
10.45 acres
$119,000
176th St. N. of Lone Mtn
10.40 acres
$220,000
BONNIE BURKE ABR, CDPE, CIAS, CLHMS, CRS, e-PRO, GRI
Integrity Based, Service Driven
480.720.8001 Cell Bonnie@BonnieBurke.com www.BonnieBurke.com
Great price on this spectacular home with 4249 sq. ft., 5 bedrooms, 4 baths, guest home with full kitchen. Detached 4th car garage with bonus/yoga room and balcony to capture some amazing views. Superb backyard with large grass area, pebble tec pool, fireplace, plus dual patios, built-in barbeque, perfect for entertaining. Large open kitchen/ family room, granite countertops. Front courtyard is perfect for sippin’ coffee and watching the sunrise over Four Peaks or evenings in front of fireplace. Wonderful family home with something for everyone. All on 1.1 acres. Only $499,000.
Address Sq. Ft. / Bed / Bath / Acre ACTIVE SINCE LAST PUBLICATION: 31604 N 144th St 2,371 / 3 / 2 / 1 - 1.9 Acres 30507 N 164 St 4,315 / 4 / 3.5 / 2 - 4.9 Acres 14612 E Desert Vista Trl 2,130 / 3 / 2 / 1 - 1.9 Acres 14843 E Roy Rogers Rd 2,780 / 4 / 2.5 / 1 - 1.9 Acres 13842 E Old Paint Trl 3,519 / 5 / 4 / 1 - 1.9 Acres 29618 N 144th Way 4,249 / 5 / 4 / 1 - 1.9 Acres 33408 N 140th Way 3,800 / 4 / 3.5 / 1 - 1.9 Acres 31107 N 161 Pl 4,240 / 4 / 4 / 1 - 1.9 Acres 31005 N 160th St 4,500 / 5 / 5 / 1 - 1.9 Acres 27505 N 130th Pl 4,095 / 3 / 4.5 / 2 - 4.9 Acres 28206 N Rio Mountain Ct 4,476 / 5 / 4.5 / 1 - 1.9 Acres 13804 E. Westland Rd 8,900 / 5 / 5.5 / 1-1.9 Acres 17340 E. Morning Vista Ct 3,863 / 3 / 4 / .50-1 Acre 13652 E Old Paint Trl 4,060 / 4 / 4.5 / 10+ Acres PENDING SALES SINCE LAST PUBLICATION: 16620 E Creosote Dr 2,284 / 4 / 3 / 1 - 1.9 Acres 28209 N 154th Way 2,394 / 4 / 2.5 / 1 - 1.9 Acres 27206 N 176th St 2,837 / 4 / 2 / 2 - 4.9 Acres 14325 E Cavedale Dr 2,080 / 3 / 2 / 1 - 1.9 Acres 17421 E Quail Track Rd 2,971 / 3 / 2 / 1 - 1.9 Acres 31707 N 142nd St 3,372 / 4 / 3 / 2 - 4.9 Acres 29905 N 166th Way 3,456 / 4 / 3.5 / 1 - 1.9 Acres 28503 N 138th Pl 2,876 / 4 / 4 / 1 - 1.9 Acres 30111 N 161 Way 3,564 / 4 / 3.5 / 1 - 1.9 Acres 14024 E Mark Ln 3,000 / 4 / 2 / 1 - 1.9 Acres 27828 N 143rd St 6,400 / 4 / 4.5 / 1 - 1.9 Acres 27119 N 141st Pl 2,453 / 3 / 2.5 / 1 - 1.9 Acres 16323 E Calle De Los Flores Dr 3,543 / 3 / 4.5 / 2 - 4.9 Acres 14524 E Balancing Rock Rd 3,265 / 4 / 3 / 1 - 1.9 Acres 14037 E Red Bird Rd 3,708 / 5 / 3 / 1 - 1.9 Acres 15449 E Lomas Verde Ln 3,936 / 4 / 3.5 / 1 - 1.9 Acres 15540 E Horned Owl Trl 3,601 / 4 / 3.5 / 1 - 1.9 Acres 31105 N 163rd St 6,532 / 4 / 4.5 / 2 - 4.9 Acres 13723 E Casey Ln 3,370 / 4 / 2.75 / 1 - 1.9 Acres 28604 N 144th St 4,654 / 4 / 4.5 / 1 - 1.9 Acres 27808 N 156th St 3,307 / 5 / 4 / 1 - 1.9 Acres 14109 E Lowden Ct 5,401 / 4 / 4.5 / 2 - 4.9 Acres 14026 E Windstone Ct 4,650 / 4 / 4.5 / 2 - 4.9 Acres SOLD SINCE LAST PUBLICATION: 34706 N 137th St 3,260 / 3 / 2.5 / 1 - 1.9 Acres 15316 E Roy Rogers Rd 1,542 / 3 / 2 / 1 - 1.9 Acres 15221 E Roy Rogers Rd 2,198 / 3 / 2 / 1 - 1.9 Acres 16247 E Bajada Dr 2,373 / 4 / 3.5 / 1 - 1.9 Acres 28423 N 148th St 3,208 / 4 / 2.5 / 1 - 1.9 Acres 35115 N 138th Way 3,222 / 4 / 2.5 / 1 - 1.9 Acres 15312 E Red Bird Rd 3,555 / 5 / 3 / 1 - 1.9 Acres 15428 E Cavedale Dr 3,067 / 4 / 2.5 / 2 - 4.9 Acres 29713 N 164th St 3,597 / 4 / 3 / 1 - 1.9 Acres 30319 N 139th St 4,458 / 5 / 4 / 1 - 1.9 Acres 13630 E Bobwhite Way 3,613 / 5 / 3 / 1 - 1.9 Acres 31607 N 138th St 3,429 / 4 / 3.5 / 1 - 1.9 Acres 31912 N 141st St 4,804 / 6 / 5 / 1 - 1.9 Acres 29623 N 152nd Way 3,980 / 5 / 4 / 1 - 1.9 Acres 29705 N 141st Pl 3,222 / 4 / 3 / 1 - 1.9 Acres 33507 N 139th Ter 3,972 / 5 / 3.5 / 2 - 4.9 Acres 28206 N Rio Mountain Ct 4,476 / 4 / 4.5 / 1 - 1.9 Acres 14628 E Wildcat Dr 3,243 / 3 / 3 / 5 - 9.9 Acres
Days On Market
List Price
16 17 26 41 50 11 47 23 40 9 21 54 31 10
$229,900 $381,900 $398,000 $399,900 $425,000 $499,000 $514,999 $565,000 $579,000 $619,900 $749,900 $999,000 $1,395,000 $2,500,000
21 78 157 85 38 9 118 17 172 75 294 123 14 9 45 21 24 22 80 44 51 21 140 List Price $112,900 $199,900 $269,900 $345,000 $355,000 $359,900 $400,000 $475,000 $449,888 $439,900 $415,900 $459,900 $499,000 $549,900 $549,900 $575,000 $580,000 $949,000
$235,000 $240,000 $254,900 $270,000 $275,000 $357,000 $369,000 $375,000 $390,000 $412,300 $425,000 $425,000 $429,000 $440,000 $449,000 $499,900 $525,000 $529,900 $535,000 $539,900 $640,000 $874,900 $999,000 Sold Price $107,000 $207,000 $265,000 $335,000 $355,000 $359,000 $360,000 $400,000 $421,000 $439,900 $440,500 $441,500 $481,500 $519,500 $525,000 $565,000 $580,000 $950,000
DOM 46 13 18 28 97 11 201 192 55 10 15 35 81 235 89 36 157 22
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS. If your home is currently listed, this is not a solicitation for that listing.
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