Urban Phoenix Lifestyle | Kevin Owens

SEPTEMBER | OCTOBER 2014

Specializing in Phoenix Lofts/Condos

A T ime Of Balance Local experts forecast stable market for remainder of 2014 Recent local media coverage has deemed the current real estate market as uneventful compared to past years. However, what some may consider a disappointing market is actually a market showing signs of stability and balance. Although low inventory spurred price increases in 2012 and 2013, our pricing and inventory levels are more balanced now than they have been in recent years.

Just Listed By Kevin Owens

Michael Orr, Director of Real Estate Studies at ASU, stresses that, “there is no longer any strong pressure on home prices either up or down so we anticipate that 2014 will see much less price movement than the last two years.”

So what does this mean for buyers and sellers?

Economic indicators of population growth, retail sales, and employment in the Phoenix metro area are all expected to have positive increases throughout the remainder of 2014 and 2015. As long as the economy continues to improve as expected, buyers and sellers should expect a balanced and stable market for the remainder of 2014!

KEVIN OWENS, REALTOR® Specializing in Phoenix Lofts/Condos

480.217.9184 kevin@fineAZliving.com www.fineAZliving.com

Kris Pesic, Escrow Officer

28 years experience with Old Republic Title in Camelback Corridor

602.631.3706 direct | KPesic@ortc.com 2375 E Camelback Rd #180 | Phoenix, AZ 85016

URBAN PHOENIX

9465 N. 92nd Street #208 | Scottsdale | $224,000 2 bedrooms | 2 bathrooms | 1,158 sf | Completely remodeled!

For more photos and info visit TurnkeySheaRemodel.com

Urban Phoenix Loft/Condo Update ADDRESS

SQFT

BED BATH

LIST PRICE

SOLD PRICE

LIST/SOLD / SQFT

JUST SOLD

1326 N Central Ave 208 1,449 1 Artisan Lofts On Central

1.75 $269,000 $255,000 $185.65 / $175.98 7/04/14

1326 N Central Ave 211 1,557 2 Artisan Lofts On Central

2

$325,000 $295,000 $208.73 / $189.47 7/31/14

1 E Lexington Ave 409 1,169 2 One Lexington

2

$335,000 $318,000 $286.57 / $272.03 6/11/14

521 E Ames Pl 9 Portland II

3.5

$329,000 $339,025 $202.34 / $208.50 7/01/14

1 E Lexington Ave 1209 1,169 2 One Lexington

2

$359,900 $357,000 $307.87 / $305.39 7/24/14

1 E Lexington Ave 1409 1,169 2 One Lexington

2

$399,000 $380,000 $341.32 / $325.06 6/23/14

525 E Ames Pl Portland II

1,985 3

3.5

$385,000 $398,000 $193.95 / $200.50 8/01/14

208 W Portland St 256 Portland Place

1,592 2

2

$459,900 $439,900 $288.88 / $276.32 7/21/14

2.5

$998,000 $980,000 $440.04 / $432.10 6/09/14

1,626 3

1 E Lexington Ave 1602 2,268 2 One Lexington

Thinking of Selling?

Call Kevin Owens today at 480.217.9184 For informational purposes only. Your real estate professional is not a mortgage lender; please contact your Mortgage Advisor for information about mortgage products and your eligibility for home financing. If your home is currently listed, this is not a solicitation for that listing. Owned and operated by NRT, LLC.

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net ISSN-1939-943X

WONDROUS WINERIES

Through The Grapevine

Luxury Market Update Shifting Landscape

Craving Light & Fresh Fare?

O.H.S.O. Brewery’s Poke’ Tuna

Urban Phoenix Market Update

From Kevin Owens, Loft / Condo Specialist

Vineyard Visits

In Good Taste O.H.S.O. Eatery + Nano Brewery 602.955.0358 | OHSOBrewery.com

POKE’ TUNA Ingredients Tuna: 1 lb Ahi Tuna, small dice 2 Limes, halved 1 tsp Chinese Seven Spice Wonton Crackers: 12 Wonton skins 2 c Vegetable oil 1/2 c Spicy mayonnaise The Build 12 Wonton crackers 8 oz Seaweed salad 8 oz Daikon root, julienne

1 Lime, squeezed 1 tbsp Chinese Seven Spice 1 tbsp Siracha Chili Sauce

1 pkg Radish sprouts Sweet soy sauce as needed Spicy mayonnaise as needed

Preparation Tuna: In a medium bowl place diced Ahi tuna squeeze limes and add the Chinese Seven Spice, place in refrigerator until ready to use.

Wonton Crackers: Take the two cups of oil and pour into sauce pot and heat to 350 degrees. Once the temperature has been reached place one wonton skin in the oil and fry until crispy. Place on a paper towel to allow the oil to drain off and continue with the rest. Continue until all wonton skins are completed.

Spicy Mayonnaise: In a small bowl combine mayonnaise, lime juice, Siracha and Chinese Seven Spice and mix until smooth. Place in a small plastic bag, reserve for later.

The Build Lay crackers down onto a serving platter or individual plate and top with prepared Poke’ tuna evenly on each cracker.

Then layer with Daikon radish root, then a layer of seaweed salad and then drizzle the prepared spicy mayonnaise (cut the tip on the corner of bag to drizzle) over the top. Alternate layers utilizing sweet soy sauce instead of spicy mayonnaise.

Garnish each one with radish sprouts.

If you’ve ever thought of visiting a vineyard but haven’t gone yet, fall is the perfect time of year to enjoy the fruits of the vine. Grape harvest time in the Northern Hemisphere is from August to October. The weather is comfortable and there is lots going on at the vineyards to see and do. You may want to plan your visit based on the wine you prefer to sip.

In the U.S., for example, certain varieties reach peak ripeness at different times of the year. If you’re a fan of Pinot Gris, Sauvignon Blanc, Pinot Noir, or Chardonnay, head to the vineyards in September.

Chenin Blanc, Merlot, and Syrah tend to peak closer to October. And big, rich Cabernet ripens October through November.

Believe it or not, prior to the 20th century, most of America’s wine grapes were grown in the Midwest. It’s no surprise that today, however, California is the nation’s wine leader, producing 90 percent of the wine grapes grown in the U.S. Napa and Sonoma are the pinnacle of wine country on the West Coast. However, things are changing: Wineries are popping up and gaining in popularity around the country, from Washington state and Oregon, to Long Island and upstate New York.

Wine grapes are now grown in all but

four states in the nation, according to Snooth.com. Seems there is a variety of grape that grows well in almost every climate in the United States. There are now some 3,000 wineries in the U.S., making it the 4th largest producer of wine in the world. That means ample opportunity for you to stop in at a winery near you or visit one the next time you’re vacationing.

Many wine aficionados have their favorite variety of vino, whether it’s red, white, blush, or sparkling. But it’s always good to remember that certain wines go best with certain foods. Gone are the hard and fast rules that red wine should be paired with beef and white should be paired with chicken and seafood.

A good rule of thumb: Try rosé with hors d’oeuvres; non-oaky whites (think Sauvignon Blanc) with citrusy meals; and reds with steaks and rich tomato-based dishes. Bottom line?

If it makes your meal taste better, you’ve found a perfect pairing.

And don’t forget to store your wine appropriately. Although only the finest and rarest of wines truly need to be cellared for a length of time, it is still important to store your wine the right way to keep it tasting its best. Try to keep it stored at a consistent

temperature (the perfect temp is 45 to 65 degrees, but don’t fret if it’s not exact).

However, note that extreme changes in heat or cold could affect the taste of the wine. Also, try to keep it out of direct sunlight, which can also alter the flavor. If you aren’t lucky enough to have your own wine cellar, look for a cool, dark place in your home to store your wine or consider a wine cooler as a nice addition to your kitchen. CHEERS!

Ballet Under The Stars Various Venues | September 18-27 602.381.0184 | BalletAZ.org “Ballet Under the Stars” allows Arizona communities to enjoy dance in a unique outdoor setting complete with a stage, lighting, costumes and beautiful Arizona weather. Bring a blanket or lawn chair and enjoy a varied program, ranging from classical to contemporary. You won’t want to miss this show, perfect for the entire family. This performance series has been delighting Arizona residents for 17 years and this year it has reached its largest audience ever – with six performances spanning from Tempe to Sun City West and Fountain Hills to Casa Grande, stopping at Phoenix, and Goodyear along the way.

Scottsdale International Film Festival Harkins Shea 14 | October 9-13 602.410.1074 | ScottsdaleFilmFestival.com Scottsdale International Film Festival features films from all over the world and many of the directors and producers participate in post-film Q&A’s with the audience. Take a tour around the world, peek into cultures of one or more countries, religions, or ethnicities, and emerge yourself in new insights and knowledge. The festival’s vision is to unite Arizona with the world through the expression of film.

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

The luxury home market in Maricopa County had an

in sales of homes over $500,000. The average price per

Nevertheless, demand has held up much better than in

excellent year in 2013, easily its best in the last seven

square foot during the first half of 2014 for luxury homes

the rest of the market. The greatest improvement has been

years. We saw almost $5 billion in sales of homes over

across Maricopa County was $233, up 4.5% from the

among homes over $2 million where unit sales during the

$500,000 during 2013 at an average price of $223 per

annual average for 2013.

second quarter were 11% higher than last year.

square foot. This was an increase of 37% over 2012’s

SEPTEMBER | OCTOBER 2014

Sounds of New Orleans: A Tribute to Louis Armstrong Symphony Hall | September 26-28 602.495.1999 | PhoenixSymphony.org This musical showcase of the “Big Easy” features a loving tribute to Louis Armstrong. From “St. Louis Blues” and “Sweet Georgia Brown” to “What a Wonderful World” and “When the Saints Come Marching In,” virtuoso trumpeter and singer Byron Stripling leads a swinging evening filled with the sounds that make the Crescent City famous.

Luxury Market Update The general housing recovery and the obvious success of

As long as the stock market suffers no major setback and

luxury homes during 2013 has brought more sellers into the

the Phoenix economy continues to improve, the luxury

price per square foot for homes over $500,000 gained

market in 2014. There are now 34% more active listings over

home market will probably continue to outperform the

6% between 2012 and 2013.

$500,000 than there were 12 months ago (38% if we exclude

more general housing market in 2014.

In the first half of 2014 things stabilized at this strong level

listings with a contract accepting backup offers). However

but did not advance any further. The first quarter started

the supply of active listings has dropped almost 25% since

well with total luxury sales up 10% from the first quarter of

peaking in April this year and is certainly not excessive.

2013. April and June were also very good months for luxury

Lender owned homes are less than 0.6% of active listings

home sales but May was disappointing. The market is

and short sales and pre-foreclosures are down from 3.5%

looking quieter as we wrap up the long hot summer

at the start of July 2013 to just 2.2% this year.

months. For the second quarter of 2014 luxury sales edged

Another sign that the market has cooled is that the

2% lower than the same quarter in 2013. For the 12 month

average cumulative days on market for closed luxury sales

period from July 2013 to June 2014 we saw $5.4 billion

is up to 137 days having been 113 this time last year.

total of $3.6 billion in sales. The annual average sales

Event Calendar

REAL ESTATE Corner

Art In The Olive Grove The Olive Mill | October 19 Artists.Superstitions@gmail.com | ArtistsoftheSuperstitions.com A diverse group of artists will represent all types of art media including painting, photography, wood, jewelry, pottery, glass and more. Artists of the Superstitions, is an organization of artists living in Apache Junction and Gold Canyon. They are committed to enriching the art culture of our diverse community, by providing opportunities for education, promoting artistic expression, selling, displaying, networking and appreciation in an enjoyable and supportive environment.

Bentley Scottsdale Polo Championships: Horses & Horsepower WestWorld of Scottsdale Polo Field | October 25-26 480.423.1414 | ThePoloParty.com On Saturday the lineup features what will be the top women’s team in the world during 2014. They will take on the reigning event champions, the Clogau Wales Polo Team, which plays with Prince Charles, Prince William and Prince Harry, in a “Battle of the Sexes” match. An All-Star match between Saturday’s top players will take place alongside the USPA Governor’s Cup on Sunday. America’s top ranked professional, Julio Arellano, will play.

Vineyard Visits

In Good Taste O.H.S.O. Eatery + Nano Brewery 602.955.0358 | OHSOBrewery.com

POKE’ TUNA Ingredients Tuna: 1 lb Ahi Tuna, small dice 2 Limes, halved 1 tsp Chinese Seven Spice Wonton Crackers: 12 Wonton skins 2 c Vegetable oil 1/2 c Spicy mayonnaise The Build 12 Wonton crackers 8 oz Seaweed salad 8 oz Daikon root, julienne

1 Lime, squeezed 1 tbsp Chinese Seven Spice 1 tbsp Siracha Chili Sauce

1 pkg Radish sprouts Sweet soy sauce as needed Spicy mayonnaise as needed

Preparation Tuna: In a medium bowl place diced Ahi tuna squeeze limes and add the Chinese Seven Spice, place in refrigerator until ready to use.

Wonton Crackers: Take the two cups of oil and pour into sauce pot and heat to 350 degrees. Once the temperature has been reached place one wonton skin in the oil and fry until crispy. Place on a paper towel to allow the oil to drain off and continue with the rest. Continue until all wonton skins are completed.

Spicy Mayonnaise: In a small bowl combine mayonnaise, lime juice, Siracha and Chinese Seven Spice and mix until smooth. Place in a small plastic bag, reserve for later.

The Build Lay crackers down onto a serving platter or individual plate and top with prepared Poke’ tuna evenly on each cracker.

Then layer with Daikon radish root, then a layer of seaweed salad and then drizzle the prepared spicy mayonnaise (cut the tip on the corner of bag to drizzle) over the top. Alternate layers utilizing sweet soy sauce instead of spicy mayonnaise.

Garnish each one with radish sprouts.

If you’ve ever thought of visiting a vineyard but haven’t gone yet, fall is the perfect time of year to enjoy the fruits of the vine. Grape harvest time in the Northern Hemisphere is from August to October. The weather is comfortable and there is lots going on at the vineyards to see and do. You may want to plan your visit based on the wine you prefer to sip.

In the U.S., for example, certain varieties reach peak ripeness at different times of the year. If you’re a fan of Pinot Gris, Sauvignon Blanc, Pinot Noir, or Chardonnay, head to the vineyards in September.

Chenin Blanc, Merlot, and Syrah tend to peak closer to October. And big, rich Cabernet ripens October through November.

Believe it or not, prior to the 20th century, most of America’s wine grapes were grown in the Midwest. It’s no surprise that today, however, California is the nation’s wine leader, producing 90 percent of the wine grapes grown in the U.S. Napa and Sonoma are the pinnacle of wine country on the West Coast. However, things are changing: Wineries are popping up and gaining in popularity around the country, from Washington state and Oregon, to Long Island and upstate New York.

Wine grapes are now grown in all but

four states in the nation, according to Snooth.com. Seems there is a variety of grape that grows well in almost every climate in the United States. There are now some 3,000 wineries in the U.S., making it the 4th largest producer of wine in the world. That means ample opportunity for you to stop in at a winery near you or visit one the next time you’re vacationing.

Many wine aficionados have their favorite variety of vino, whether it’s red, white, blush, or sparkling. But it’s always good to remember that certain wines go best with certain foods. Gone are the hard and fast rules that red wine should be paired with beef and white should be paired with chicken and seafood.

A good rule of thumb: Try rosé with hors d’oeuvres; non-oaky whites (think Sauvignon Blanc) with citrusy meals; and reds with steaks and rich tomato-based dishes. Bottom line?

If it makes your meal taste better, you’ve found a perfect pairing.

And don’t forget to store your wine appropriately. Although only the finest and rarest of wines truly need to be cellared for a length of time, it is still important to store your wine the right way to keep it tasting its best. Try to keep it stored at a consistent

temperature (the perfect temp is 45 to 65 degrees, but don’t fret if it’s not exact).

However, note that extreme changes in heat or cold could affect the taste of the wine. Also, try to keep it out of direct sunlight, which can also alter the flavor. If you aren’t lucky enough to have your own wine cellar, look for a cool, dark place in your home to store your wine or consider a wine cooler as a nice addition to your kitchen. CHEERS!

Ballet Under The Stars Various Venues | September 18-27 602.381.0184 | BalletAZ.org “Ballet Under the Stars” allows Arizona communities to enjoy dance in a unique outdoor setting complete with a stage, lighting, costumes and beautiful Arizona weather. Bring a blanket or lawn chair and enjoy a varied program, ranging from classical to contemporary. You won’t want to miss this show, perfect for the entire family. This performance series has been delighting Arizona residents for 17 years and this year it has reached its largest audience ever – with six performances spanning from Tempe to Sun City West and Fountain Hills to Casa Grande, stopping at Phoenix, and Goodyear along the way.

Scottsdale International Film Festival Harkins Shea 14 | October 9-13 602.410.1074 | ScottsdaleFilmFestival.com Scottsdale International Film Festival features films from all over the world and many of the directors and producers participate in post-film Q&A’s with the audience. Take a tour around the world, peek into cultures of one or more countries, religions, or ethnicities, and emerge yourself in new insights and knowledge. The festival’s vision is to unite Arizona with the world through the expression of film.

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

The luxury home market in Maricopa County had an

in sales of homes over $500,000. The average price per

Nevertheless, demand has held up much better than in

excellent year in 2013, easily its best in the last seven

square foot during the first half of 2014 for luxury homes

the rest of the market. The greatest improvement has been

years. We saw almost $5 billion in sales of homes over

across Maricopa County was $233, up 4.5% from the

among homes over $2 million where unit sales during the

$500,000 during 2013 at an average price of $223 per

annual average for 2013.

second quarter were 11% higher than last year.

square foot. This was an increase of 37% over 2012’s

SEPTEMBER | OCTOBER 2014

Sounds of New Orleans: A Tribute to Louis Armstrong Symphony Hall | September 26-28 602.495.1999 | PhoenixSymphony.org This musical showcase of the “Big Easy” features a loving tribute to Louis Armstrong. From “St. Louis Blues” and “Sweet Georgia Brown” to “What a Wonderful World” and “When the Saints Come Marching In,” virtuoso trumpeter and singer Byron Stripling leads a swinging evening filled with the sounds that make the Crescent City famous.

Luxury Market Update The general housing recovery and the obvious success of

As long as the stock market suffers no major setback and

luxury homes during 2013 has brought more sellers into the

the Phoenix economy continues to improve, the luxury

price per square foot for homes over $500,000 gained

market in 2014. There are now 34% more active listings over

home market will probably continue to outperform the

6% between 2012 and 2013.

$500,000 than there were 12 months ago (38% if we exclude

more general housing market in 2014.

In the first half of 2014 things stabilized at this strong level

listings with a contract accepting backup offers). However

but did not advance any further. The first quarter started

the supply of active listings has dropped almost 25% since

well with total luxury sales up 10% from the first quarter of

peaking in April this year and is certainly not excessive.

2013. April and June were also very good months for luxury

Lender owned homes are less than 0.6% of active listings

home sales but May was disappointing. The market is

and short sales and pre-foreclosures are down from 3.5%

looking quieter as we wrap up the long hot summer

at the start of July 2013 to just 2.2% this year.

months. For the second quarter of 2014 luxury sales edged

Another sign that the market has cooled is that the

2% lower than the same quarter in 2013. For the 12 month

average cumulative days on market for closed luxury sales

period from July 2013 to June 2014 we saw $5.4 billion

is up to 137 days having been 113 this time last year.

total of $3.6 billion in sales. The annual average sales

Event Calendar

REAL ESTATE Corner

Art In The Olive Grove The Olive Mill | October 19 Artists.Superstitions@gmail.com | ArtistsoftheSuperstitions.com A diverse group of artists will represent all types of art media including painting, photography, wood, jewelry, pottery, glass and more. Artists of the Superstitions, is an organization of artists living in Apache Junction and Gold Canyon. They are committed to enriching the art culture of our diverse community, by providing opportunities for education, promoting artistic expression, selling, displaying, networking and appreciation in an enjoyable and supportive environment.

Bentley Scottsdale Polo Championships: Horses & Horsepower WestWorld of Scottsdale Polo Field | October 25-26 480.423.1414 | ThePoloParty.com On Saturday the lineup features what will be the top women’s team in the world during 2014. They will take on the reigning event champions, the Clogau Wales Polo Team, which plays with Prince Charles, Prince William and Prince Harry, in a “Battle of the Sexes” match. An All-Star match between Saturday’s top players will take place alongside the USPA Governor’s Cup on Sunday. America’s top ranked professional, Julio Arellano, will play.

SEPTEMBER | OCTOBER 2014

Specializing in Phoenix Lofts/Condos

A T ime Of Balance Local experts forecast stable market for remainder of 2014 Recent local media coverage has deemed the current real estate market as uneventful compared to past years. However, what some may consider a disappointing market is actually a market showing signs of stability and balance. Although low inventory spurred price increases in 2012 and 2013, our pricing and inventory levels are more balanced now than they have been in recent years.

Just Listed By Kevin Owens

Michael Orr, Director of Real Estate Studies at ASU, stresses that, “there is no longer any strong pressure on home prices either up or down so we anticipate that 2014 will see much less price movement than the last two years.”

So what does this mean for buyers and sellers?

Economic indicators of population growth, retail sales, and employment in the Phoenix metro area are all expected to have positive increases throughout the remainder of 2014 and 2015. As long as the economy continues to improve as expected, buyers and sellers should expect a balanced and stable market for the remainder of 2014!

KEVIN OWENS, REALTOR® Specializing in Phoenix Lofts/Condos

480.217.9184 kevin@fineAZliving.com www.fineAZliving.com

Kris Pesic, Escrow Officer

28 years experience with Old Republic Title in Camelback Corridor

602.631.3706 direct | KPesic@ortc.com 2375 E Camelback Rd #180 | Phoenix, AZ 85016

URBAN PHOENIX

9465 N. 92nd Street #208 | Scottsdale | $224,000 2 bedrooms | 2 bathrooms | 1,158 sf | Completely remodeled!

For more photos and info visit TurnkeySheaRemodel.com

Urban Phoenix Loft/Condo Update ADDRESS

SQFT

BED BATH

LIST PRICE

SOLD PRICE

LIST/SOLD / SQFT

JUST SOLD

1326 N Central Ave 208 1,449 1 Artisan Lofts On Central

1.75 $269,000 $255,000 $185.65 / $175.98 7/04/14

1326 N Central Ave 211 1,557 2 Artisan Lofts On Central

2

$325,000 $295,000 $208.73 / $189.47 7/31/14

1 E Lexington Ave 409 1,169 2 One Lexington

2

$335,000 $318,000 $286.57 / $272.03 6/11/14

521 E Ames Pl 9 Portland II

3.5

$329,000 $339,025 $202.34 / $208.50 7/01/14

1 E Lexington Ave 1209 1,169 2 One Lexington

2

$359,900 $357,000 $307.87 / $305.39 7/24/14

1 E Lexington Ave 1409 1,169 2 One Lexington

2

$399,000 $380,000 $341.32 / $325.06 6/23/14

525 E Ames Pl Portland II

1,985 3

3.5

$385,000 $398,000 $193.95 / $200.50 8/01/14

208 W Portland St 256 Portland Place

1,592 2

2

$459,900 $439,900 $288.88 / $276.32 7/21/14

2.5

$998,000 $980,000 $440.04 / $432.10 6/09/14

1,626 3

1 E Lexington Ave 1602 2,268 2 One Lexington

Thinking of Selling?

Call Kevin Owens today at 480.217.9184 For informational purposes only. Your real estate professional is not a mortgage lender; please contact your Mortgage Advisor for information about mortgage products and your eligibility for home financing. If your home is currently listed, this is not a solicitation for that listing. Owned and operated by NRT, LLC.

Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net ISSN-1939-943X

WONDROUS WINERIES

Through The Grapevine

Luxury Market Update Shifting Landscape

Craving Light & Fresh Fare?

O.H.S.O. Brewery’s Poke’ Tuna

Urban Phoenix Market Update

From Kevin Owens, Loft / Condo Specialist