AZ Real Estate 07-17-2016

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R E A C H U S || P H O N E : 6 0 2 - 4 4 4 - N E W S || E M A I L : N E W S T I P S @ A R I Z O N A R E P U B L I C . C O M || A Z C E N T R A L . C O M / R E A L E S TAT E

CATHERINE REAGOR REAL ESTATE

Street Scout new newsletter about real estate Is metro Phoenix running out of land? What’s going on with the renovation of the Glendale mayor’s office? Why do your Amazon or REI shipments arrive faster in Phoenix? Should you refinance after Brexit? If you follow real-estate news in the Valley closely, you probably know the answers to those questions. If you don’t, I want to make it easier for you to stay informed through a new weekly newsletter called Street Scout. It’s named after our real-time housing data and neighborhood information website. Early each week, I will curate the most important real-estate news and give you a quick update on the latest developments, links to the most interesting metro Phoenix stories, stats and, hopefully, answers to your real-estate questions. To get the top weekly real-estate news, subscribe to the Street Scout newsletter at azcentral.com by typing account.azcentral.com/newsletters/ in your browser. Then click on box for Street Scout and save your settings. You might try a couple of others while you’re there, too. AZ Memo and Feel Good Five are two I read every week. A little more on those headlines from real-estate stories during the past week: » Metro Phoenix is running out of land ready for new homes. There are thousands and thousands of acres of vacant land in metro Phoenix. But as newhome sales continue to rebound in the Valley, the supply of lots prepped and ready for houses is shrinking to the lowest level in many years. » Glendale Mayor Jerry Weiers’ renovation headache came from a $26,000 job to expand his office and then shrink it back after council members objected. » Valley residents buying something online from REI will soon get it faster because the Seattle-based retailer has opened a distribution center in Goodyear that’s the size of three Walmart Supercenters. Amazon has a big distribution center in the West Valley, which is why we get our packages from that retailer so fast. » Britain’s vote to exit from the European Union hurt U.S. stock markets temporarily, but helped homeowners refinance. Mortgage rates fell to the lowest level since 2012 as investors opted for Treasury bonds. Refinancings climbed 18 percent last week and are expected to climb again this week, as homeowners like myself rush to get a lower mortgage rate. Sign up to see where interest rates head next week, the latest on Valley home prices and what luxury home or resort just sold.

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RENTAL AGREEMENT

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Landlords giving tenants chance to tal houses buy renta

HEATHER PERLBERG BLOOMBERG

Melissa Suniga and her mother had been renting a three-bedroom Phoenix r house for less than a year when thei taInvi landlord, Blackstone Group’s to tion Homes, gave them the chance buy it.

Suniga, a 40-year-old childcare worker, used her security deposit and $2,000 she’d saved from her income-

t tax refund, along with a county gran and a credit from Invitation Homes that together provided her with

$10,600 more for her down payment and closing costs. She expects to com plete her purchase of the $150,000 house this week. “When I started renting, I thought, ‘I wish I could buy this home,’ ” Suniga said in an interview. See RENTERS, Page 3R

When I

started renting, I thought, ‘I wish I could buy this home.’ ” MELISSA SUNIGA PHOENIX RESIDENT

FIND A NEW MONTHLY SECTION IN TODAY'S ARIZONA REPUBLIC! Find the hottest properties, latest trends and best values the second Sunday each month. SCOTTSDALE | 5432 East Ludlow Drive | Open Today 1–4PM

BIG BASEMENT BEAUTY in Maravilla with six spacious MLS# - 5464377 bedrooms. Magnificently updated interior. Dramatic high ceilings, Bedrooms - 6 beautiful picture windows, thick granites and plantation shutters. Bathrooms - 4 Striking double island kitchen with caramel-hued granite counters, Pool - Yes stainless appliance package, five-burner gas cooktop, desk and large pantry. Generous entertaining spaces. Tile and hardwood Sq. Ft. - 4,167 floors. Custom built-ins and fireplace. King-sized master has Parking - 3-Car Garage double walk-in closets and gorgeous redone bath with marble. Lot Size - 9,360 Sixth bedroom set up as an office. Huge basement bonus room. A ZIP Code - 85254 colorful flower bed spans the yard. Refinished pool, two spas, BBQ and lush lawn. All newer A/C units. Gated in the Magic 85254 Online Pics - ThoseCallaways.com Zip Code. – Joseph Callaway Price - $750,000

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

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SCOTTSDALE | 7811 East Vaquero Drive | Open Today 12–4PM

STUNNINGLY CHIC IN GAINEY RANCH. Exuding a wealth MLS# - 5415489 of elegance and ultra-stylish sophistication, this posh designer- Bedrooms - 5 owned estate is snuggled on a quiet cul-de-sac inside the exclusive Bathrooms - 5.5 gated community of Vaquero Drive in Gainey Ranch. Swaying Pool - Yes palm trees, lush lawns, circular drive. Living room w/soaring wallwidth windows. Dining room w/big bay windows. Sleek wowSq. Ft. - 6,565 worthy kitchen. Towering two-way fireplace separates kitchen ZIP Code - 85258 from chandelier-lit family room, wine bar. Lavish master retreat w/black-tie dressing closet. Sparkling waterfall pool, party ramada Online Pics - BaldwinTeam.com Price - $2,250,000 w/barbecue, fireplace. Also: two-room guest/nanny quarters, king-size game room/billiards parlor, executive-style office. Visit tourfactory.com/1528803. Inside: details, directions.

Brought to you by Sandra Baldwin, Launch Real Estate

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