Arizona Republic
z SUNDAY, MARCH 18, 2018 z 1R
Real Estate Who is spending the big bucks on Valley homes now? A lot of company executives, doctors, lawyers and professional athletes are behind many of the area’s priciest sales.
This home on Mummy Mountain sold for a record $15.65 million. JOAN LEVINSON, REALTY ONE
Multi-million dollar home sales soaring The number of Valley houses selling for $3M or more has doubled Catherine Reagor Columnist, Arizona Republi | USA TODAY NETWORK
A year ago, plunking down $3 million for a metro Phoenix mansion landed a buyer at the top of the priciest home sales for the week. But there are a lot more big-money homebuyers in the Valley now. Just look at the record $17.5 million a Canadian buyer paid for a 20,000-square-foot mansion in north Scottsdale’s posh Silverleaf neighborhood last week. The number of homes selling for $3 million or more in the Phoenix area has doubled this year, compared to the same time frame in 2017, said Tina Tamboer, senior housing analyst with the Cromford Report. So far this year, 28 homes in that high price range have sold. Who is spending the big bucks on Valley homes now? A lot of
company executives, doctors, lawyers and professional athletes are behind many of the area’s priciest sales. But sometimes, we don’t know who buyers are because they mask their names under Delaware LLCs that don’t require any of the members’ names to be recorded. The buyer of the $17.5 million mansion is Nummus Properties, a Saskatchewan corporation, according to public real estate records. Some research into where the tax bill for the home will go, always included in Arizona records, shows it’s the address for Brandt Tractor Ltd. That company is one of the biggest Jon Deere dealers in the world. In December, Microchip Technology founder Steve Sanghi set the previous record for the priciest Arizona home sale when he paid $15.65 million for a mansion on Paradise Valley’s Mummy Mountain. He used an LLC to buy, but his name was listed with the tax mailing address. See SALES, Page 3R
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