Real Estate

NEW DEVELOPMENTS COME TO NORTH PHOENIX AND NORTH SCOTTSDALE

Nationwide Realty Investors’ ters building for Nationwide Insurance, Serving as Cavasson’s first anchor tors, in partnership with Grayhawk 134-acre mixed-use Cavasson multifamily apartments, a six-story tenant, the new 460,000-square- Development. development in Scottsdale, Ari- parking structure, retail and restaurants, foot Nationwide Insurance regional zona is continuing to see new tenants two hotel sites and significant infra- headquarters building will house Another new development, Talinn at and development. Cavasson is located structure improvements. approximately 2,200 associates with Desert Ridge is 25.06 acres of land at along Loop 101, at the southwest corner room to grow. The five-story, world- 56th Street and Deer Valley Road. Shea of Hayden Road and Legacy Boulevard Reflective of its surrounding land- class facility will allow the company Homes purchased the property late last in Scottsdale. The initial phase of the scape, Cavasson will be highly to bring more associates and like year and construction of model homes project will include several commer- designed and beautifully landscaped. business operations together to create is set to start in the latter half of the cial office buildings including the new The project’s mix of uses will include efficient and collaborative work year. 460,000 square-foot regional headquar- approximately 1.8 million square environments and align business units feet of market leading commercial in an effort to better serve the needs Tallinn at Desert Ridge is slated to office space, 1,600 multifamily units, of both the company’s policyholders include approximately 83 single-family hotels, retail, restaurants, services and its associates. Nationwide plans homes, ranging from approximately and amenities. The walkable commu- to move its associates into the new 2,318 to 3,738 square feet, in Phase 1 of nity will include tree-lined sidewalks, building in late 2020. development. Floorplans at Talinn are bike paths, green spaces and com- expected to mirror those that are availmunity gathering places with ample In September of 2018, Nationwide able at another one of Shea Homes’ parking. The project will include an Realty Investors purchased the 134- developments — Emblem at Aloravita infrastructure investment of approxi- acre site for the Cavasson development in Peoria. The community will also inmately $30 million—delivering new at state auction. Proceeds from the clude a large community park and a rec roads, sidewalks, improved connec- purchase went to the Permanent Land center. Phase 2 is expected to include tivity and flood mitigation improve- Endowment Trust Fund, designated an addition 54 lots by late 2020. ments which will benefit the property for the benefit of Arizona K-12 public and significant acreage surrounding education. Cavasson is owned and Concept photo provided courtesy of the development. developed by Nationwide Realty Inves- Cavasson.com

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REAL ESTATE REPORT: “THE LACK OF SUPPLY CAN ONLY BE DESCRIBED AS SHOCKING” By Scott Gaertner and the average price per square foot is around Phoenix, they will have to pay dot at the left represents the first up almost 9% and probably heading for more for their new home too. Phoenix week of 2020 and has a value of

This month we are having a guest a double-figure appreciation rate. is currently the strongest large-city $2,742,696,250. This is the highest dolspeaker! Each month you hear housing market in the USA, and this is lar volume we have ever measured for my opinion on the market and We note that December 2019 contained fueled by inter-state population move- the beginning of the year, and it is up a I thought it might be good to give you 21 working days and December 2018 ments. Retirees are a big part of that, massive 26% from this time last year. another view. contained 20, giving 2019 a 5% advan- but so are people moving here from Coming second and third are 2018 and tage. However, unit sales were up more California and other Western states for 2019 with 2006 in fourth place. The thoughts below are that of the man than 20% so making an allowance for work and the lower cost of living. DeI think of as the “Master of Math” here the advantage still gives 2019 a win by mand is likely to remain healthy despite The 2020 real estate market shift is in the valley, and whom I am pleased 15%. The listings under contract count the rising prices. important enough that we have decided to consider a good friend. Mike Orr is less impressive. While it is almost to have a Housing Forecast event with holds a master’s degree in Mathemat- 20% up from last year, it had been al- The primary question is whether we the top statistics person in the valley on ics from the University of Oxford and most 24% up at the start of December, will see any change in the meager sup- February 27 in Scottsdale North. For is the founder, chief analyst, and editor so gave back a little of its lead. Only ply of homes for sale. If this is to take details, see our ad below or give us a of the Cromford Report. It is one of my a little mind you. We are clutching at place, it is likely to be visible over the call at 480-634-5000. favorite sources of real estate data. straws here to find something indicating next few weeks. There has been no sign a little cooling in the market. of an improvement in new listing flows Scott Gaertner is an Below are Mike's thoughts on the in the last several weeks of 2019. But Associate Broker with greater Phoenix real estate market: Demand remains higher than normal 2020 is a new year, so we will be watch- Keller Williams Northbut the Cromford® Demand Index has ing closely for signs of change.” east, who for the past “The lack of supply can only be de- eased from around 107 to around 103 25+ years has helped scribed as shocking. A 30% decline over the past four weeks. This will not Cromford measures dollar volume on more people to find since this time last year to reach the make much of a difference while supply a weekly basis for all areas and types, their lifestyle niche in lowest level since August 2005. This remains under half of what is needed shown in this latest weekly chart below. the Scottsdale North area than anyone to satisfy a population that has grown for a balanced market. else. He also contributes his thoughts more than 20% since 2005. Anyone On this chart, the lonely dark brown on lifestyle interests in the area. who thinks this severe shortage will not The big hope for buyers must be for a result in a significant rise in prices is going to have another thought coming pretty soon. The median sales price is surge in new listings arriving over the next 12 weeks. Perhaps sellers will be tempted by the higher pricing they can Join Us! already up 11% over the last 12 months achieve. However, if they are staying H O U S I N G 2 0 2 0 F O R E C A Housing S T 2020 FORECAST

The 2020 Real Estate Market The 2020 Real Estate Market Will Be VERY DifferenWill Be VERY Different. t.

Are you e situation has changed. prepared??? Are you prepared???

The #1 Expert on Maricopa County and the #1 Expert on Scottsdale North Discuss the Real Estate Market ahead in 2020. The #1 Expert on Maricopa County and the #1 Expert Join us! on Scottsdale North Discuss the Real Estate Market ahead in 2020.

When: Thur Thursday, Feb. 27 sday, February 27th 5 PM - 7 PMWhere: Foothills Community 5 p.m. - 7 p.m. Where? Foundation Holland Center 34250 N. 60th St. Bld. B Foothills Comm 34 unity Foundation Holland Center 250 N 60th St. Bld. B Scottsdale, AZ 85266 Scottsdale, AZ 85266 To RSVP or for more info call Ashley T O R S V P O R F O R M O R E I N F O C A L L A S H L E Y 605-881-4218 or ashley@scottgaertnergroup.com 6 0 5 - 8 8 1 - 4 2 1 8 O R A S H L E Y @ S C O T T G A E R T N E R G R O U P . C O M

COVER STORY Rio Verde Country Club THE BEST KEPT SECRET IN THE NORTH VALLEY

By Molly Cerreta Smith

Rio Verde Country Club, nestled in the foothills of the McDowell Mountains and abutting the Tonto National Forest, is a hidden golfer’s paradise that is world’s away, yet just minutes from Scottsdale North.

Recently the Rio Verde Country Club completed a $3.75 million renovation that included a refresh and upgrade of the Club and its signature restaurant, to provide an outstanding member experience and to attract new members to discover the Rio Verde experience for themselves.

Formerly the Copper Room, the Box Bar Grille features a new kitchen and a stunning layout that offers diners fantastic views of the McDowell Mountains with multiple large windows that seamlessly meld the indoors with the outdoor environment. The ample patio provides table seating for dining as well as cozy and comfortable seating around multiple firepits, ideal for enjoying a meal and a drink before or after golf. According to David Benham, Membership Director, the open air concept of the restaurant provides a whole new experience for members and their guests.

Named for the Box Bar Ranch upon which Rio Verde sits today, the Box Bar Grille features traditional country club fare with a core menu of options as well as providing multiple nightly features for the “adventurous palette.”

Menu options include hearty fares such as Shepherd’s Pie, Filet Mignon with “voodoo sauce”, Pan Seared Atlantic Salmon with Brussel sprout-Spanish chorizo and Braised Short Rib Stroganoff.

While the clubhouse remodel certainly deserves attention, the golf courses are the highlight of Rio Verde. With 36-holes of traditional-style golf, Quail Run and White Wing courses offer a challenging yet enjoyable golf experience for players of all levels.

“Both are very walkable courses that are no longer built today,” says Darryl Janisse, Director of Golf. Redesigned by PGA pro Tom Lehman during a $6 million course renovation project just under a decade ago, each course offers distinct features so that members have an array of options when they play. Quail Run offers more elements of a traditional style golf course while White Wing is more comparable to a links-style course. Though nestled in a desert setting with spectacular mountain views, each course offers excellently maintained tees, fairways and greens.

The property itself pays homage to its desert environment and is respectful to both the land and wildlife here. Rio Verde is certified by the Audubon Cooperative Sanctuary Program for Golf Courses, an environmental education and certification program that helps golf courses protect the environment, preserve the natural heritage of the game of golf, and gain recognition for their efforts.

According to Audubon International, “The ACSP assists each golf course member to take stock of its environmental resources and any potential liabilities, and then develop a plan that fits its unique setting, goals, staff, budget, and time. Audubon International provides information to help golf course personnel with six key environmental components: environmental planning, wildlife and habitat management, chemical use reduction and safety, water conservation, water quality management, outreach and education.”

Certification is awarded to golf courses that meet these specific environmental management standards in each area, and Rio Verde Country Club is proud to be among them. “Yes, we have natural Arizona

COVER STORY

wildlife, but we live in harmony with them,” adds Janisse.

While many of the 410 Country Club members are also residents, the Club community does not differentiate. In fact, one of the most notable features of the Country Club environment is the welcoming sense of connectivity that takes place here.

Tonie Lindenberger, Marketing Committee Member of the Club, notes that it is very easy to get involved and to meet new people here. “The number one reason people join our club is the sense of community,” she says, adding, “People often comment on the old-fashioned neighborhood feel. No one is a stranger here.”

The community itself has just more than 1,000 lots and offers a number of vibrant reasons outside of golf to get involved, including the Community Center with pool tables, pickleball and tennis courts, bocce ball, a wellstocked library, and even a dance studio.

The community hosts fun events including comedy nights, high-end wine dinners, jazz nights, game show themed activities and more. There are also numerous clubs for people to join including those that enjoy horses, Jeeps, hiking, biking and so on. “We’re an extremely active community.” And first and foremost, Rio Verde is a golf community.

Among the golfers, there are women’s groups, men’s groups and players of all skill levels so no one ever feels as though they have to go at it alone. The Club also employs professional certified PGA instructors for private and group lessons. “We have our own teachers, our own clinics and our own fitters,” adds Benham. “We have a wide range of golfers when it comes to skill levels. Whether you carry a 2 or a 40 handicap, all golfers have a place at Rio Verde Country Club.”

Rio Verde Country Club is focused on providing its members, whether residents or not, with an unparalleled golf experience that is unmatched in the Valley. With so many golf courses and clubs to choose from, standing out from the crowd is what Rio Verde is all about. “We give people a reason to see what we’re all about,” says Benham. Another benefit is that Rio Verde includes trail fees and cart fees for its members.

Perhaps a hidden gem for many years, Rio Verde Country Club has dedicated millions in renovations to ensure that they are offering their members the very best experience around — especially on the course. So while its perhaps a local secret for now, the word is out.. and spreading.

For more about Rio Verde Country Club, the types of memberships available and additional amenities, visit www.rioverdearizona.com/thecountry-club.

NON-RESIDENT GOLF MEMBERSHIPS AVAILABLE for individuals and couples. $5000 off initiation fee. Offer expires 2/29/2020

• 36 holes of walkable golf with scenic views • Newly renovated clubhouse and restaurant • No cart fees • No food and beverage minimum

Already a member at another private club? Want to add 36 holes of private golf to your current membership? Ask about our Golf+ Privilege for as little as $250 per month! 18731 E. Four Peaks Blvd. Rio Verde, AZ 85263-7044

David Benham

Membership Director

480.471.3410

rioverdecc.com dbenham@rioverdecc.com