December 2013 In Business Magazine Top Luxury Real Estate Agents

Top

Luxury 2014

Real Estate Agents

Chey Castro Renee Merritt Kevin Owens Jean Ransdell Marnie Rosenthal Tom Scappaticci

RECIPIENT NAME

Top Luxury Agents

Today’s Luxury Home Market Luxury homes are appreciating slowly but moving fast

by RaeAnne Marsh

Phoenix-area home prices have been rising since hitting a low point in September 2011. The median single-family-home price rose 32.7 percent — from $150,000 to $199,000 — from last September to this September, according to the most recent report from the W. P. Carey School of Business at ASU. The average listing price of luxury homes — generally defined as those valued at $500,000 or more — is also up, although only about 5 percent. But then, the luxury market didn’t take the hit the overall market has suffered since 2008. The report finds the luxury market continues to perform well, thanks to the rising stock market and a big increase in the availability of jumbo loans. Sales of $500,000-plus, single-family homes grew an incredible 51 percent from September 2012 to September 2013.

Luxury properties span the Valley in gated and non-gated communities, and include horse properties and golf properties. For homes listing at $500,000 to $3 million, the persquare-foot price has dropped about $7, but number of active days on the market has also dropped — from 133 days a year ago to 118 days at the present time.

Inventory is up slightly from the 2,400 of a year ago, but Howard Lein, owner of Scottsdale-based franchise RE/MAX Excalibur Realty, says the number of months’ supply has dropped from 9.4 to about 7. “Sales volume has been up,” he explains, but adds that, currently, it is dropping quickly.

In the Phoenix-area real estate market overall, the number of available homes for sale continues to rise, after the area experienced a very tight supply for months. Active listings, not including those already under contract, went up 32 percent from Oct. 1 of last year to Oct. 1 of this year. More people appear willing to put their homes up for sale as prices rise. “If the current trend continues, supply will exceed demand by the end of the year,” says Mike Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business. “We now expect a balanced market to prevail during November. This is great news for buyers since they will experience less competition and be in a strong position to negotiate.”

Institutional investors and out-of-state buyers continue to lose interest in the Phoenix area, since better bargains can now be found elsewhere. The percentage of homes and condos bought by

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investors in September was down to 22.7 percent, from the peak of 39.7 percent in July 2012. Also, the percentage of Maricopa County residences sold to owners from outside Arizona was only 16.4 percent, the lowest percentage since January 2009. Speaking of the Asian market in particular, Lein says it “has not proven to be as strong as other parts of the country. For some reason, Arizona is being overlooked by the bulk of the Asian buyers versus some of the East Coast and West Coast markets.”

Observing that the luxury market “has been rolling along very well in the first part of 2013,” he notes that, however, a number of factors have slowed new buyers down dramatically. These include interest rate adjustments along with the government shutdown, which brought what was on track to be a spectacular year to a virtual slow down. “Only in the past couple weeks have the phones begun to ring again” he says. “Sellers are bringing new product to the market, giving buyers a new selection of great properties to look at.”

Lein believes sellers are reacting to the sales figures from the first half of 2013 and prices, in some cases, are out of line. But he says, “Buyers are gaining confidence again and are slowly recognizing that even with the slight increase in rates, the lending market is still a tremendous bargain.” And he notes, “With labor shortages still affecting the new home builders, most of the luxury homes being bought still can’t be replaced by new construction costs.”

A major factor in the appreciation of existing home inventory has been the shortage of labor and the rapidly increasing cost of lots.

Additionally, Lein observes, “It appears that immigration issues have contributed to the rapid appreciation of residential properties in the Phoenix area. If continued, appreciation could continue at a more rapid pace than other parts of the country.”

Financing continues to be favorable for the luxury market. Says Lein, “There are some incredible programs for the well-healed individual who has relationships with the wealth management divisions of the national banks.”

RE/MAX Excalibur Realty excaliburrealestate.com W. P. Carey School of Business wpcarey.asu.edu

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section. The real estate market is improving and these agents are proven leaders in the Valley. In Business Magazine recommends these agents. Please visit inbusinessmag.com for more information and articles on the local real estate market.

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Chey Cas tro Renee Me rritt Kevin Ow ens Jean Ra nsdell Marnie Rosentha l Tom Sca ppaticci

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Top TopLuxury LuxuryRealtors Agents

Chey Castro

Russ Lyon Sotheby’s International Realty One of the primary attributes that sets Chey Castro apart from other Realtors is his in-depth knowledge and understanding of the financial side of any transaction — a skill that enables him to ensure that his clients’ financial needs are very well served.

A proud native of Arizona, Castro graduated from Arizona State University (4.0 GPA; Summa Cum Laude) with a business degree in finance and went on to earn a Masters of Science in accountancy from the University of Notre Dame.

Profile Name: Chey Castro, MSA Company/Broker Name: Russ Lyon Sotheby’s International Realty Main Office Address: 7135 E. Camelback Rd., Suite 360 Scottsdale, AZ 85251

Along with the totality of his background, education and experiences, something else that sets him apart from other agents is the fact that he has been Phone: (602) 570-2516 regularly and repeatedly recognized by his peers, his company and the media as a result of Website: www.CheyCastro.com winning a bevy of “Top Producer” awards. He has been named to the Phoenix Business Journal’s “Book of Lists” for top-producing real estate agents, and been honored as the only real estate Designations: Master of Science in Accountancy agent inductee into the Phoenix Business Journal’s esteemed “40 Under 40” class of 2012.

Specialty Areas: Silverleaf, DC Ranch, FireRock, His early experiences in real estate development fueled and solidified his passion for high-end North Scottsdale and Paradise Valley residential sales. It is his exceptional attention to his clients’ needs and intricate knowledge of the market that has led him to quickly become a top luxury-market Realtor. Colleagues have described Castro as “positive,” “optimistic,” “trustworthy,” “hard-working” and “ethical” — traits that he values highly in both his work and his personal life. His hope and objective is that after he completes a real estate transaction with a client, he or she would also agree with these words.

On The Market

Silverleaf

Windgate Ranch

Amazing Custom Home situated on a premium lot overlooking Homestead Park and backing to Mountain Preserve for ultimate privacy.

Highly desired singlelevel Solaria Model with breathtaking unobstructed Mountain Views and custom high-end finishes.

$6,000,000

$899,000

SOLD IN 2013

SOLD IN 2013 Windgate Ranch Silverleaf Custom Home in the Upper Canyon at Silverleaf situated on a premium lot that backs to the McDowell Mountain Preserve.

$3,250,000

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Hardwood flooring throughout, gourmet kitchen, stainless steel appliances, custom hand-carved cabinets, den/ office, game room, and extended master suite with a patio capturing breathtaking mountain views.

$1,400,000

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Top Luxury Agents

Renee Merritt

Coldwell Banker Previews International Originally from New York, Merritt relocated to the Valley more than 22 years ago and has gained an extensive familiarity and fundamental understanding of the dynamic real estate market of the Greater Phoenix area.

Merritt is passionate about her profession and loves what she does. She is a renowned luxury real estate advisor and among Coldwell Banker’s elite, top-producing, certified PREVIEWS Property Specialists with an unwavering commitment to exceptional client service and professional excellence. Whether assisting the affluent buyer or seller, she works diligently to protect and advance her clients’ real estate goals and objectives while carefully and meticulously guiding them throughout the transaction process. Merritt is one of the industry’s leading practitioners, and her clients have come to rely upon her expert market insight and keen negotiating prowess. In addition to all the world-class services and international exposure the Coldwell Banker Previews International team provides, Merritt’s strategic hands-on approach, impeccable follow-up and compassionate demeanor have made her the “go-to” luxury real estate advisor among the Valley’s top professionals.

Profile Name: Renee Merritt Company/Broker Name: Coldwell Banker Previews International Office Address: 10446 N. 74th St., Suite 100 Scottsdale, AZ 85258 Phone: (480) 522-6135 Email: ReneeMerritt71@gmail.com Website: www.ReneeMerritt.com Specialty Areas: Greater Phoenix

Merritt’s passion for her profession shows in her achievements; she is among the top 1 percent of Coldwell Banker Arizona Realtors and has been recognized with a number of prestigious accolades throughout her real estate career. Merritt also enjoys giving back to the community. She donates her time and financial resources to various charitable organizations such as Childhelp, Feed My Starving Children and Compassion International, and supports K-LOVE and Air1.

On The Market Hermosa Estates

Circle G

Superbly crafted custom in one of North Mesa’s premier gated enclaves. Exceptional finishes and details throughout this 5-bedroom, 4.5-bath estate with pool & glass tile spa.

SOLD IN 2013

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Executive home with classic style & sophistication.

Spacious 4-bedroom, 4.5-bath plus office on a large lot with elegant features, tranquil pool & spa.

5300 S.F. tourfactory.com/1065110

4107 S.F. tourfactory.com/1051074

$1,100,000

$895,000

Circle G

SOLD IN 2013

Gainey Ranch

A rare Gilbert Landmark! First time to ever grace the market.

One-of-a-kind 10,752-sf Tudor estate on 3.3 lush acres with horse stalls & privileges.

10-bedroom, 6-bath, 12-car detached carriage house, a once-in-a-lifetime opportunity!

Located on the 7th fairway of The Dunes at Gainey Ranch with gorgeous golf course and mountain views. Enjoy carefree Scottsdale lifestyle living in this soft contemporary custom with 24-hour guarded entry, shopping, walking paths, and country club amenities.

10,752 S.F. tourfactory.com/885837

3869 S.F. tourfactory.com/837145

$1,775,000

$1,025,000

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Top Luxury Agents

Kevin Owens

Coldwell Banker Previews International

Kevin Owens represents luxury buyers and sellers, combining the market knowledge of a Scottsdale native with the history and global strength of Coldwell Banker. Early in his career, Owens earned the opportunity to partner with two of Scottsdale’s renowned top-producing luxury agents. It was from these mentorships that he mastered the art of selling luxury real estate.

Owens continues his momentum by being annually recognized through “Outstanding Client Service” awards and was also awarded REALTOR.com’s “Online Marketing Award of Excellence” for his distinguished Internet marketing. Owens is also a founding member of NextGen, a collaborative group of next-generation real estate professionals who focus on innovation, technology and networking to share best practices.

Recognized for his industry-leading marketing strategies, Owens combines the power of the Internet, online video showcases and international exposure with conventional time-tested marketing. Owens excels in property-specific marketing because he understands the importance of telling the story behind each unique luxury home that he represents. After all, exceptional properties deserve nothing less than exceptional representation.

Profile Name: Kevin Owens Company/Broker Name: Coldwell Banker Previews International Office Address: 23435 N. Pima Rd., Suite 173 Scottsdale, AZ 85255 Phone: (480) 217-9184 Website: www.fineAZliving.com Designations: ASP, CLHMS, CNBS, CNE, CNMS, GREEN, SFR

Specialty Areas: Scottsdale, Phoenix, Paradise When representing buyers, Owens is known for his in-depth market knowledge that only a Scottsdale Valley, Arcadia, Biltmore, Desert Ridge, native can offer. His continuing education means you will be working with a REALTOR® who Carefree/Cave Creek is immersed in the industry and understands current market trends. Through Owens’ professional networking, he provides property possibilities beyond what is available in the MLS, often knowing about listings before they hit the market.

Owens is currently ranked No. 1 in the Coldwell Banker Scottsdale-Pinnacle Peak office, in the top 25 agents in Arizona, and in the top 14 percent of agents worldwide for sales production.

On The Market Southern Cross Ranch

Luxury equestrian estate Located on the “Rodeo Drive” of equestrian estates: 5-acre, 5,178-sf main house, guest house, tennis court.

See the video showcase at: YouTube.com/fineAZliving

$4,250,000

Softwind Serenity Vista Monterey in North Scottsdale

McDowell mountain views, 5 bedrooms, 3.5 bathrooms, 4,278 sf on 1-acre lot, flex room w/ bar, gym.

See more photos at: SoftwindSerenity.com

$1,015,000

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Top Luxury Agents

Jean Ransdell & Tom Scappaticci Russ Lyon Sotheby’s International Realty

A well-earned North Valley reputation for strong work ethic and valuable networking connections makes Jean Ransdell and Tom Scappaticci the smart choice for your next purchase or sale of luxury real estate. In today’s market, nothing less than “going the extra mile” gets the job done. Whether buying or selling a home, an experienced real estate team who is quick to see solutions and not shy about testing limits to pursue your best interests is what clients need and what they get with Ransdell and Scappaticci.

Well-seasoned in the art of negotiation, Ransdell and Scappaticci are a valuable asset with the diplomacy of an ambassador and the perseverance of a bulldog. Those serious about buying or selling want them on their team, and it doesn’t take long to see why. Laws, finance strategy, tools and resources, market trends and so much more change almost daily in Arizona real estate. Ransdell and Scappaticci stay on top of current industry information and education and hold numerous certifications such as Associate Broker License, ABR and ePro Certification.

With 50 plus years of combined experience in Arizona luxury real estate and hundreds of transactions under their belts, this powerhouse team benefits clients with its in-depth experience in luxury home and luxury lot sales. Land and lots are, especially, a unique sale or buy with very different considerations to be mastered. Scappaticci prides himself in being that expert.

Profile Name: Jean Ransdell & Tom Scappaticci Company/Broker Name: Russ Lyon Sotheby’s International Realty Office Address: 8852 E. Pinnacle Peak Rd., Suite J-3 Scottsdale, AZ 85255 Phone: Jean (480) 294-3257 Tom (602) 430-4081 Website: www.ArizonaLuxuryRealty.com Designations: Associate Broker, ABR, e-Pro Specialty Areas: Troon, DC Ranch, Desert Highlands, Desert Mountain, Whisperrock, Grayhawk, North Scottsdale

With Ransdell and Scappaticci comes the most prestigious brand in Arizona luxury real estate — Russ Lyon Sotheby’s International Realty. The world reaches Arizona and Arizona reaches the world via this unmatched combination of leaders in the local and international markets. Ransdell and Scappaticci are a team to trust for results and will make you proud to work with and refer others to.

On The Market

Silverleaf

Glenn Moor at Troon

Beautifully detailed & appointed home located on a GREAT LOT in the Parks at the premier guard-gated community of Silverleaf.

Surrounded by majestic boulder mountains, this Old World Estate is snuggled right alongside the lush fairway of the award-winning Troon Golf Course.

4876 S.F. tourfactory.com/1021934

7428 S.F. tourfactory.com/1035996

$1,899,000

$2,950,000 Pinnacle Peak

Impressive Old World ambiance on this elevated 2.5-acre Saguaro Forest premium home site offering panoramic mountain and city-light views.

Take-your-breath-away, one-of-a-kind Mountaintop Estate artfully sits on a 5+ acre private mountaintop lot at almost 3,000-foot elevation offering 360-degree views of SPECTACULAR sunsets, city lights & mountain vistas.

7292 S.F. Tourfactory.com/946170

7800 S.F. tourfactory.com/936103

Pending $2,995,000

$2,950,000

Desert Mountain

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Top Luxury Agents

Marnie Cooper Rosenthal Russ Lyon Sotheby’s International Realty

As a top producer in the Russ Lyon Sotheby’s International Realty organization, Marnie Rosenthal is a proven, successful real estate agent, specializing in Scottsdale homes for sale and lease within the Maricopa County real estate market. Year after year, her results-driven professionalism moves large volumes of luxury property in the North Phoenix, Scottsdale, Troon, Arcadia, Paradise Valley and Fountain Hills areas of Arizona.

Buyers and sellers alike trust her and refer Rosenthal because of her stellar work ethic and broad network of resources.

With an unparalleled expertise in real estate for both buyers and sellers, Rosenthal is unique in that she understands the client experience, and focuses on the client’s needs so as to not waste time. She surrounds herself with the most professional and capable experts in the business, creating a team that exudes service and reliability.

Her expectations for her clients to receive nothing but the best are why she is so well-known and revered in the real estate market in Arizona and beyond. She is accredited with some of the most prestigious designations. Rosenthal’s certifications exemplify the value she places on current knowledge and education. Certifications are an Accredited Buyers Representative (ABR), Certified Short Sale Negotiation (CSSN), Certified Distressed Property Expert (CDPE) and National Association of Realtors® Green Designation (GREEN). Rosenthal’s slogan, “Luxury Homes, Quality Living...that’s My Specialty!” resonates because she cares so deeply about the needs of her clients.

Profile Name: Marnie Cooper Rosenthal Company/Broker Name: Russ Lyon Sotheby’s International Realty Office Address: Waterfront 7135 E. Camelback Rd., Suite 360 Scottsdale, AZ 85251 Phone: (480) 298-2971 Website: www.TeamMarnie.com Designations: CDPE, CSSN, CNE, SFR, ABR, GREEN, HAFA Specialty Areas: Silverleaf, DC Ranch, Grayhawk, Windgate Ranch, McDowell Mountain, Troon, Desert Mountain Golf Club, Mirabel Golf Club, Estancia Golf Club, Paradise Valley, Arcadia, Phoenix

On The Market

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Paradise Valley

Arcadia

Engulf yourself in this private Palatial estate with breathtaking Resort-style living. From the lush landscape flanked by citrus and mature trees to the designer kitchen, this highly upgraded home with stone and wood finishes has it all, sparing no expense!

Tennis courts, lap pool, fountains and more … this home has the accoutrements for the discerning family of today! Gorgeous Master retreat with spa-like bath.

Wonderful intimate Guest suites with private baths. Fabulous spacious Kitchen — Family Room — Great Room feel for all social gatherings.

$3,200,000

$2,950,000

Silverleaf Golf Club

North Scottsdale

Beautifully situated showcasing the gorgeous McDowell Mountains, this charming Tuscan-inspired home in the heart of North Scottsdale is truly an Entertainer’s Paradise!

Enjoy the multiple outdoor gathering spaces, Chef’s Gourmet Kitchen, private breakfast room and wonderful Master Suite complete with sitting room.

Backing to the 8th tee, this home is truly a Golfer’s Dream Retreat! Enjoy the spectacular 360-degree views encompassing the golf course, mountains and city lights in this fabulous singlestory Guard-Gated Golf Course home! Tucked away off a long drive and cul-de-sac, this home with warm color palette and designer finishes offers peace and tranquility.

$2,495,000

$1,550,000

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