AZ Real Estate 10-21-2018

Arizona Republic

❚ SUNDAY, OCTOBER 21, 2018 ❚ 1R

Real Estate

Phoenix-based Camelot Homes has won a national honor for constructing the best home of the year. MARK BOISCLAIR

Camelot shines in Scottsdale Catherine Reagor Columnist Arizona Republic USA TODAY NETWORK

One of the first builders to bring garages, sunken fire pits and Roman columns to metro Phoenix’s housing market recently won several awards at a top industry competition for constructing the best home of the year.

Scottsdale-based Camelot Homes built the award-winning house in north Scottsdale in a community called White Horse.

Camelot, founded almost 60 years ago, has set many trends for the Valley’s housing market, including having women leaders. It was founded by Arizona’s first licensed contractor, J.W. Hancock, and his wife Maggi, who became the company matriarch.

The Hancocks started in the 1960s by building semicustom homes near 32nd Street and Shea Boulevard, where tract homes were then the only option.

The honored home is in north Scottsdale’s White Horse community. SCOTT FOUST

When their son Mark, who is now a managing director at the company, saw the movie “Camelot” in 1967, he asked if the company could be renamed because a line from the movie talked about it be-

ing the happiest place to live. Maggi Hancock agreed.

Camelot is one of Arizona’s oldest family-owned homebuilders. Maggi Hancock, who was highly respected in

the real estate industry, died this past summer at age 97.

“She was a dynamo and took me in.

She taught me so much about real estate,” said Mark’s wife, Julie Hancock, also a managing director of Camelot. “I often turned to her over the years, and she shared her great wisdom.”

It seems fitting that a homebuilder named Camelot would take top honors for a new community called White Horse.

The development, on former Arizona state land near DC Ranch, won for Home of the Year, Best Single-Family Detached home and Best Indoor/Outdoor Lifestyle for a Home at this year’s Pacific Coast Builder’s Conference in San Francisco.

The competition is tough at the annual conference, which has been around for 56 years.

Judges described the award-winning house as “a project that’s not only architecturally beautiful, but one that would See CAMELOT, Page 3R

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2R ❚ SUNDAY, OCTOBER 21, 2018 ❚ THE ARIZONA REPUBLIC

Valley Home Values PRICIEST VALLEY HOME SALES A poolside cabana, hand-crafted light fixtures and a heated saltwater pool are among the luxurious features that can be found in some of this week's most expensive home sales in metropolitan Phoenix.

$3,150,000 Jerry R. Smith purchased this mansion in Scottsdale’s Silverleaf at DC Ranch community. The 6,630-square-foot house with mountain views has six bedrooms and 6.5 bathrooms.

The two-story Tuscan estate has architectural design features that include hand-carved wood doors, double-barrel vaulted ceilings with brick and stone treatments, handcrafted vigas and custom herringbone-patterned tile work. The house has a main-level master suite and junior master bedroom.

The house also features a home theater and two upstairs bedrooms with wraparound outdoor patios. The backyard has a Venetian-tiled pool, a courtyard garden and a poolside cabana that is adjacent to a two-bedroom guest house.

Shelley W. Diakiw sold the home through her trust.

This mansion has a Venetian tiled pool and a poolside cabana. COURTESY OF ANDREW BLOOM OF KELLER WILLIAMS ARIZONA REALTY

$2,645,000 Eric K. Lange and his wife Melissa L. Ahearn purchased a house in Phoenix’s Sun Valley Estates community. The 4,600-square-foot house has five bedrooms, 4.5 bathrooms and sits on a 19,985 square-foot lot.

The new construction ranch-style house has a split master floor plan, a teen/bonus room and an open great room with formal living and dining rooms. The master bedroom has a separate exit to the backyard that has a covered patio, pool and spa.

Two Hawks Investments 3, LLC, an Arizona limited liability company, sold the home.

$2,635,000 Todd and Deborah Cusolle, co-trustees of the Cusolle Living Trust, paid cash

through the trust for this house in Paradise Valley designed by architect David Dick.

The 5,555-square-foot house has five bedrooms and 5.5 bathrooms. The two-level contemporary house has gated entry, floor-to-ceiling windows, glass stair railing, hand-crafted light fixtures and natural tile and wood flooring.

The house has a chef’s kitchen with all Thermador appliances, three ovens, six burner ranges, a cappuccino maker and a butler’s pantry.

The house also features a separate guest house and garage. The backyard has a pool, covered patio, two-way glass fireplace and a barbecue area.

Matthew M. Keister, and his wife Morgan, sold the home.

$2,450,000

$2,275,000

Charles Maher purchased a house in Phoenix’s White Gates community. The 5,624-square-foot house has five bedrooms, eight bathrooms and views of Camelback Mountain.

Jared Veldheer, former Arizona Cardinals offensive tackle, sold a 5,254square-foot house with six bedrooms and six bathrooms in Paradise Valley’s Paradise Hills community.

The custom-built ranch-style house has vaulted ceilings, reclaimed brick accents, fireplaces and a wet bar. The custom kitchen has granite countertops, a walk-in pantry and Thermador appliances.

The house, built in 2013, has vaulted wood-beam ceilings, a sliding glass wall in the family room, fireplaces and an upstairs viewing deck.

The house also has a climate-controlled garage with stained concrete floors.

The backyard features a pool, spa, fire pit and outdoor kitchen.

Trigger Palomino, LLC, an Arizona limited liability company, sold the home.

The house features column pillars, stone fireplaces and imported travertine and marble accents. The backyard has a detached guest house.

Randy and Kathy Okrzesik and Robert Frank and Sandra Scheuer purchased the house.

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NEARBY SHOPPING: Kierland Commons; Scottsdale Quarter.

CROSS-STREETS: Pima Road and Hualapai Drive.

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soaring archways, massive ceiling beams and wall-width windows that exquisitely frame amazing sunset views.

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NEARBY SCHOOLS: Las Sendas CROSS-STREETS: Located near Elementary; Fremont Middle School; Thomas Road and Power Road in Red Mountain High School.

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NEARBY HOSPITALS: Banner Baywood Medical Center; Banner Heart Hospital.

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AZCENTRAL.COM ❚ SUNDAY, OCTOBER 21, 2018 ❚ 3R

US home sales fall in September Higher prices, mortgage rates cooling market Christopher Rugaber ASSOCIATED PRESS

WASHINGTON – U.S. home sales fell for the sixth straight month in September, a sign that housing has increasingly become a weak spot for the economy.

The National Association of Realtors said Friday that sales declined 3.4 percent last month, the biggest drop in 2½ years, to a seasonally adjusted annual rate of 5.15 million. That’s the lowest sales pace since November 2015.

Hurricane Florence dragged sales in North Carolina, but even excluding the storm’s effects, sales would have fallen more than 2 percent, the NAR said. After reaching the highest level in a decade last year, sales of existing homes have declined steadily in 2018 amid rapid price increases, higher mortgage rates and a tight supply of available houses.

Still, analysts are mostly optimistic about the broader economy. Most forecast growth will top 3 percent at an annual rate in the July-September quarter, after a robust expansion of 4.2 percent in the second quarter.

“Housing is no longer a tail wind for the economy, but the headwinds are blowing very gently,” said Michelle Meyer, an economist at Bank of America Merrill Lynch, before the report was released.

Housing will likely weaken further in the coming months. September’s weakness came before mortgage rates jumped this month to their highest levels in seven years. Sales fell 4.1 percent in September from a year ago.

“Without a doubt there is a clear shift in the market,” said Lawrence Yun, chief economist at the National Association of Realtors.

One sign of the shift is that demand for existing homes is slowing. Home prices are rising at a slower rate and the supply of available houses, while low, is

increasing. Buyer traffic has also declined, Yun said.

And with rents also stabilizing in many cities, many would-be buyers may not feel as much pressure to buy a new home.

“Renting itself may be seen as a better bargain as rising mortgage interest rates, still-rising home prices and sluggish wage growth dent the affordability advantage of a typical mortgage,” said Aaron Terrazas, senior economist at real estate data provider Zillow.

Sales have fallen by the most in the West, where most of the nation’s hottest real estate markets are located and where prices have soared for several years. Sales tumbled 12.2 percent in that region in the past year, compared with just 5.6 percent in the Northeast and 1.5 percent in the Midwest. They dropped just 0.5 percent in the South from a year earlier, despite a sharp decline in September due to Hurricane Florence.

New hotel planned for Roosevelt Row Catherine Reagor Arizona Republic USA TODAY NETWORK

A seven-story Cambria hotel is going up in downtown Phoenix’s Roosevelt Row. Construction just started on the 127room hotel scheduled to open next year on the northwest corner of Portland and Third streets, near Margaret T. Hance Park.

Camelot Continued from Page 1R

set a future precedent for the evolution of production housing.”

The judges called the Camelot design a “charming and elegant” home that looks like a traditional hacienda on the outside but opens up on the inside to many courtyards, patio and other outdoor living spaces to give it a resort feel.

Home prices start above $1 million in

Cambria is part of the Choice Hotel chain.

Choice Hotel Senior Vice President Janis Cannon said the company’s hotels are designed to reflect the neighborhoods they go up in, and guests can expect “the spirit” of Roosevelt Row in the new hotel.

The Cambria hotel will have a rooftop pool and bar along with a restaurant and meeting space.

True North Studio LLC is developing

the hotel with Choice, which paid $1 million for the site in May, according to public real estate records.

“The Roosevelt Row Arts District, one of the top arts districts in the nation, is a true jewel of Phoenix,” said Jonathon Vento, principal developer with True North.

In 2016, the boutique hotel FOUND:RE opened up at Central Avenue and Portland in Roosevelt Row. It replaced an older, closed hotel.

the gated community at Pima Road and Los Gatos Drive. More than half of the community’s 50 houses have sold since it opened in February.

“White Horse has been a personal passion project for our family,” said Cammie Hancock Beckert, a managing director of Camelot Homes and daughter of Mark and Julie.

The community’s name came from Julie Hancock, who started riding horses when she was young and has always had a white horse.

“We wanted to build a legacy com-

munity, and I didn’t want to give it another name with “mountain” in it,” Julie Hancock said. “We had this beautiful piece of irreplaceable land that deserved a special name.”

She said it was a thrill to receive the awards at the conference, but “disappointing” to see so few woman leaders represented in the industry.

“I had a great mentor, and I hope I have been that for my daughter,” Julie Hancock said. “Homebuilding is a great business for women. I hope we inspire more women to join us.”

Christopher A. Combs Columnist

Deed in lieu should not prevent a ‘buy back’ Question: Although home values are increasing in our North Phoenix neighborhood, we are still “underwater” ten years after we purchased our home at the top of the market. Due to medical expenses of one of our children, we are behind on our mortgage payments. Our mortgage company has now agreed to accept a deed in lieu of foreclosure (“DIL”) from us. We still love our home, and in the next few months we should finally be able to sell a lot we own near Flagstaff and have some money. If our mortgage company puts the home back on the market after the DIL is recorded, are there any laws that prohibit us from buying the home back from the mortgage company?

Answer: A DIL is a conveyance deed from the owner of the home to their mortgage company in exchange for the mortgage company “writing off ” the mortgage loan. A DIL generally has a lengthy affidavit signed by the owner of the home. This affidavit has standard provisions primarily protecting the mortgage company from a “change of heart” later by the owner of the home. For example, standard provisions in the affidavit are that the seller is not signing the DIL under any duress, or in reliance upon any representations by the mortgage company. Finally, even if there is a provision in the affidavit prohibiting the buyer from buying the home back from the mortgage company, the mortgage company could still sell the home to you. Mortgage companies are in the business of making mortgages, and not in the business of owning homes.

Reach real-estate attorney Christopher Combs at azrep@combslaw group.com.

4R ❚ SUNDAY, OCTOBER 21, 2018 ❚ THE ARIZONA REPUBLIC

Arizona real estate from Arizona’s real estate experts.

Catherine Reagor, azcentral.com real estate columnist.

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Great Move-In Specials!

1Bd $1000, 2Bd $1100, 3Bd 3543 Phoenix-North Central $1395. Townhomes Avail.

Apartments Short Term Appt. Lease Avil. Pillar Bella Vista - 623-385-0096 Jan 15 - Sept 15, 2019 (can be extended) GREAT MOVE-IN SPECIALS 1 bdrm, 1 bath $989/mo 3541 4 pools/spas + 1 wading Arrowhead mall area.

Phoenix pool! 1 bdrm $751, 2 bdrm 602-316-4632 Apartments $855. Vaseo 602-748-1727

Mesa Apartments

3004

All Area Homes

Mesa Apartments

RENT TODAY! Gourmet kitchens, custom features at $895. Courtney Vista at Zanjero 623-385-0005

DARTMOOR APARTMENTS

6610 N. 93rd Ave. Glendale, AZ 85305 623-385-0119 All Area Homes

Call for Great Specials!

1 BDR $9985, 2 BDR $1,225, 3BDR Avail. Pillar at Taviano - 480-422-5186

3533

LEASING TOWNHOMES WITH ATTACHED GARAGES!

3004

Across From Intel 1Br’s - $845, 2Br’s - $1,020 Cornerstone Ranch 480-467-2940

3548

Phoenix Apartments

DAILY SPECIALS! 1, 2 & 3 Bds from $ 1,029. Casitas w/ attached garages avail.

Desert Sage 623-385-0132

3539

Chandler Apartments

3243

3541

Goodyear Apartments

$199 Move-In! 1 BDS from $799, 2 BDS from $899. W/D hookup. Some utilities incl.

Monte Vista 623-385-0134

3518

Payson: C2, 5k sq ft block bldg, 0.93 acre wooded lot, visible from HWY 87.

928-595-1559.

3083

Rentals

Hair Parlor for sale $6000.

Beauty/barber salon, East Mesa 28 yrs. Owner retiring Call Susan 513-850-0429.

3528

Glendale Apartments

FREE UTILITIES! FULLY FURNISHED! Studio & 1 Bedrooms from $549 Chateau Gardens 623-385-0153

3240 3070

3527

AR-0008824394-01

3196

3000-3311

Vue Nineteen 01 1901 E. Apache Blvd., Tempe, AZ

480-682-1990 Free Utilities!

3004

All Area Homes

3004

All Area Homes

All Area Homes

REAL LIFE. ONLY BETTER.

Tucked away in the cozy desert mountains, a short drive north of Phoenix’s urban congestion, is a relaxing place with a freeing spirit where real life becomes the life people yearn for. Much more than a place to live, Wickenburg Ranch is a lively adult community that embraces its alluring natural landscape while providing one-of-a-kind, 5-star resort amenities like an award winning golf course and a 9-hole course, luxury spa, fine dining, saloon, and plenty more worth experiencing. With unrivaled offerings and personalized homes from the mid-$200s to $900s+, Wickenburg Ranch is close enough to live away from it all.

TOP 5 BEST COURSES TO PLAY IN ARIZONA – GOLFWEEK 2018

SPA & MASSAGE FACILITIES

RESTAURANTS & DEMONSTRATION KITCHEN

13 MILES OF HIKING TRAILS

EXPLORE MORE AT WICKENBURGRANCH.COM. | 928.415.1881 This is not an offer for sale or lease. No offer for sale or lease may be made, and no offer for purchase or lease may be accepted prior to issuance of a Public Report by the Arizona Department of Real Estate. The developer of Wickenburg Ranch is Wickenburg Development Co., LLC, an Arizona limited liability company (“Developer”), but the homebuilders within Wickenburg Ranch are independently owned and operated (“Builders”). References to Builders by Developer shall not be construed as an endorsement, warranty or certification by Developer of Builders’ performance. Prior to signing any purchase contract, a purchaser should read and understand the Public Report issued by the Arizona Department of Real Estate to the specific subdivision Builder. The Public Reports for the Builders for the subdivisions in Wickenburg Ranch are available on the Arizona Department of Real Estate website. No Federal agency has judged the merits or value, if any, of this property. Notice to California residents, WARNING: the California Bureau of Real Estate has not inspected, examined, or qualified this offering. Notice, this offer is valid only in Arizona. This offer void where prohibited by law.

6R ❚ SUNDAY, OCTOBER 21, 2018 ❚ THE ARIZONA REPUBLIC

Delivery lockers are new must-have amenity Rent Smart Courtney Gilstrap LeVinus Guest Columnist

Over the years, technology has started to spread into all aspects of our lives, from advanced security systems to the way we communicate with one another to how we can remotely control our homes from our phones.

Technology in the apartment industry helps make everyone’s life easier whether it’s searching the web to find the right apartment community or using an app to find a roommate with similar interests. Technology makes everything easy and convenient.

The most recent piece of technology

that is appearing in apartment communities is 24/7 secure package delivery lockers. These lockers are designed to make it easy for you, the resident, to pick up packages. When a package is delivered, you will receive an email or text message with a six-digit code. Typing this code on the locker’s keypad unlocks the locker or lockers allowing you to collect your packages. There is no wait time and the lockers are always accessible.

Not only do these lockers allow you to pick up your packages, they also allow you to drop off anything you need to return or send. Similar to picking up a package, you are given a six-digit code that unlocks a locker where you can safely drop your package off. There is no longer a need to drive to the post office.

These lockers are beginning to be-

come a desired resident amenity which is why some companies who make these delivery lockers are partnering with apartment communities to install this new technology. While these lockers make it easy for residents to pick up and drop off packages, community managers may have some control over how long a package sits in a locker. As a resident, you may have a limited amount of days to collect your packages from the storage locker. If you are unsure how long you have to get your package from the delivery locker, you can always speak with your community manager. They can also let you know where to get your package if you do not collect it in the allotted time.

If you have ordered something large, there is a good chance it will not fit in a delivery locker. You can always ask your

community manager where large packages are delivered. Do they come to your front door, or do you need to collect them from the leasing office? Does your leasing office let you know when you have a package? These are all great questions to ask your community manager.

If you are looking to move to an apartment home, you can always ask the leasing agent if they have or are planning to have a delivery locker. More apartment communities are seeing a demand for this technology and are working to install these easy, safe and convenient delivery lockers.

The Arizona Multihousing Association is the statewide trade association for the apartment industry, representing more than 2,000 members in legislative, legal and regulatory matters.

W e invite you to be our guest for lunch and a tour of our friendly Village.

Enjoy the Scenery No long hallways here! Just open spaces and fresh air.

Welcome Home to Wooddale Village,

A Sun City Retirement Community

Wooddale Village is a beautiful resort-style retirement community located in Sun City, offering the finest in services, amenities and healthy lifestyle. This community offers spacious one and two bedroom apartment homes with views of lush, green courtyards lined with trees, water features and ponds.

Residents who choose Wooddale Village as their home enjoy the freedom of living a carefree, active lifestyle that keeps them young at heart.

Wooddale Village SUN CITY

623-933-1313

18616 North 99th Avenue, Sun City (Just North of Union Hills)

www.wooddalevillage.com Visit us on: