AZ Real Estate 01-24-16

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R E A C H U S || R A N D Y C O R D O VA , R A N D Y. C O R D O VA @ A R I Z O N A R E P U B L I C . C O M || T H I N G S T O D O . A Z C E N T R A L . C O M

Wondering whether rooftop solar is a good deal for you?

CATHERINE REAGOR REAL ESTATE

When will Millennials buy Valley real estate?

ILLUSTRATION BY ALIYA MOOD/THE REPUBLIC

Google it! EMERY P. DALESIO | ASSOCIATED PRESS

RALEIGH, N.C. - The company that lets you compare air fares and translate foreign languages online wants to make it easier to weigh the costs and benefits of installing solar panels on household rooftops. Google is rolling out a new online service that quickly tallies up considerations of going solar and whether homeowners should consider buying or leasing photovoltaic panels costing thousands of dollars. Google’s Project SunSee SOLAR, Page 3R

Predicting if and when Millennials will buy homes is a big money question for the real estate industry. A group of up-and-coming Millennial leaders from metro Phoenix shared their opinions Wednesday on how they and their peers view housing with more than 1,000 of Arizona’s top real estate executives at Urban Land Institute Arizona’s annual Trends Day conference. All four of the 20- and 30-something speakers are homeowners. But they agreed Millennials have a different mindset on housing and are delaying buying because of obstacles past generations didn’t face. They were scared by the crash. “The opportunity to grow wealth through housing as a way to build a nest egg was taken away from our parents,� Chris Grogan, a partner with developer El Dorado Holdings, told the crowd. But they are hopeful that things are turning around. “We know today in states like Arizona it costs more to rent than own a home as long as the value in your home stays steady and moves forward," he said. “We are just coming out of an economy where that wasn’t the case. But now it is the case, so we (the Millennials) will start looking at buying.� Besides bad memories of the housing crash, there’s the record debt many recent college graduates are carrying. “Student debt is a big fear for Millennials who are worried about qualifying to buy so it’s easier for them to rent,� said Elise Goodell, marketing manager of Maracay Homes. “We, the real estate industry, have to make it easier.� And then there’s the down payment required to buy. “Millennials are worried about the $40,000 they need to go buy the home. They have $0. � Chris Brozina, executive vice president of apartment developer and manager Mark-Taylor, told the Urban Land group. “I don’t buy the notion that there’s been a fundamental shift and young people don’t want to buy homes anymore.� He thinks instead many Millennials don’t have tens of thousands of dollars for a down payment and don’t think See REAGOR, Page 3R

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SCOTTSDALE | 10955 East El Rancho Drive | Open Today 1-4PM

DRAMATIC CUSTOM HOME in the prestigious Cactus Corridor. MLS# Lavishly finished, this highly customized entertainer’s dream Bedrooms home has awe-inspiring finishes. Cathedral tongue and groove Bath ceilings, spectacular bar, stone accents, two fireplaces, Travertine Pool and hardwood floors. Gorgeous kitchen with Alder scroll wrapped island. Expensive Wolf, Bosch, Dacor and Sub-Zero appliance Sq. Ft. package. Incredible master. Bonus room. The resort oasis has lush Parking lawns, two spas, a Ramada, BBQ, putting green and fenced pool Lot Size with waterfall. Beautiful casita. Mountain and city light views ZIP Code from the observation deck. Temperature controlled over height garage. RV gate. Large cul-de-sac lot backs a natural open area for Online Pics privacy. – Joseph Callaway Price

Brought to you by Those Callaways Luxury Circle International, (480) 596-5751

- 5355888 -6 -5 - Yes - 5,132 - 4-Car Garage - 32,193 sq. ft. - 85259 - ThoseCallaways.com - $1,250,000

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SCOTTSDALE | 37910 North Boulder View Drive | Open Today 12-4PM

DRAMATIC ELEGANCE. Snuggled in North Scottsdale, this MLS# stunning home enjoys a secluded desert setting and a wealth of Bedrooms rolled beam ceilings, sunlit hallways, mesquite and rock flooring, Bath beautiful cabinetry and more. Long gated drive, generous circular Pool motor-court. Hacienda courtyard w/romantic fireplace. Living room w/custom niches, massive ceiling beams, hardwood floors, Sq. Ft. wood-trimmed exits. Kitchen w/expansive island, professional gas ZIP Code range. Master retreat w/distressed-wood doors, black-tie closet, pavered patio, fireplaced bath. Elegant beach-entry pool, sprawling Online Pics Price dining/dessert patios, view-rich spa, barbecue island, fire-pit. Amazing mountain, city lights, sunset views. Visit tourfactory. com/1383625. Inside: details, directions.

Brought to you by Sandra Baldwin, Launch Real Estate

- 5302179 -4 - 3.5 - Yes - 4,248 - 85262 - BaldwinTeam.com - $1,295,000

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