WWW.AZCENTRAL.COM
REACH US
|| S U N D AY , A U G U S T 2 4 , 2 014
|| PA G E R1
AZ Real Estate
|| P E N N Y W A L K E R , P E N N Y. W A L K E R @ A R I Z O N A R E P U B L I C . C O M || B U S I N E S S . A Z C E N T R A L . C O M
CATHERINE REAGOR REAL ESTATE
Industry slowdown leads to homebuyer incentives
GREMLYN BRADLEY-WADDELL SPECIAL FOR THE REPUBLIC
BUYER BEWARE Don’t be undone by a redo
I
n the industry for more than 25 years and licensed as an architect since 1996, Steve Judge has worked on untold residential remodeling projects. But the Scottsdale man said he also has walked away from countless others when, after informing the investor or homeowner that a permit — be it building, electrical, plumbing or mechanical — was necessary for certain parts of the job, his words went unheeded and, upon his departure, the work was completed anyway without the appropriate paperwork and oversight. “It has given a black eye to the industry,” he said, “especially one with so many licensed people who have integrity.” Though he believes most people do the right thing and obtain the proper permits, the truth is that many don’t, and that puts the health and safety of the public at risk. Considering most older homes for sale have undergone some renovation, Judge and local municipal building officials said it’s imperative that buyers perform their due diligence
See REMODELS, Page R3
THINKSTOCK
Buyers should be wary when purchasing a house that has been remodeled. Perform due diligence to see whether the proper permits were obtained for a project that was more than cosmetic.
T
his year’s slowdown in new-home building and sales across metro Phoenix isn’t good for the economy or people with jobs in the construction industry. But the slower-than-expected sales are prompting builders to offer buyers more deals. Most builders are offering at least $5,000 off upgrades and other options for new homes and/or closing costs. Homebuilding research and analytics firm RL Brown Reports offers details on prices, popular locations, the busiest builders and popular floor plans: » Through July, new-home sales were running about 10 percent below 2013’s pace for the same period. Homebuilding is down about 15 percent. » Approximately 10,800 new houses are expected to be sold in the Phoenix area this year, and 11,800 built. The forecast is for continued slow growth in the area’s new-home market for the next few years. » The Valley’s median newhome price is $289,000, down from a record $305,000 in May. » About 36 percent of the Valley’s new homes in 2014 have gone up in Mesa and Gilbert. The north Valley is the second-top spot for building, capturing more than 21 percent of the market. Another 20 percent of the area’s new houses were in the southwest Valley. » Taylor Morrison is the busiest builder, with 481 permits for new-home construction across metro Phoenix during the first six months of the year. Second is Meritage Homes, with 412. Pulte Homes is third, with 333. » The most popular floor plan with Valley buyers is a 3,000-square-foot home built See REAGOR, Page R3
Luxury Retirement Community for Active Adults Over 62 Come And Experience The Hospitality!
Call Us. NOW..
To make reservations to be our guest for complimentary lunch and tour.
For more information, see our ad inside!
LUXURY RETIREMENT COMMUNITY OF SUN CITY
623-933-1313 • www.wooddalevillage.com
AR-0008267554-01
PARADISE VALLEY | 5701 North 32nd Place | Open Today 1-4PM
PRETTIEST HOME IN PARADISE VALLEY. An architectural MLS# feat, this spectacular custom estate is on over an ACRE near the Bedrooms prestigious Biltmore. Jaw-dropping and masterfully designed open Bath plan. Soaring ceilings, impressive flooring, multiple fireplaces and Pool grand hosting bar. A wall of glass disappears, bringing the outdoors in. Professional dream kitchen with elevated island. Sub-Zero, Sq. Ft. Thermador, Dacor and Asko appliances. Wrap-around windows Parking showcase the nearby mountain views. En-suite guest quarters. Lot Size Office. Bonus room. Temperature controlled nine-car garage with ZIP Code lift and custom work area for the car enthusiast. Beautiful outdoor living spaces. Grass lawns, BBQ and boulder water feature. Online Pics – Joseph Callaway Price
Brought to you by Those Callaways Luxury Circle (480) 596-5751
- 5139810 -4 -4 - No - 5,441 - 9 Car Garage - ACRE-PLUS - 85253 - ThoseCallaways.com - $1,595,000
see more inside AR-0008238815-01
SCOTTSDALE | 7320 East Rovey Avenue | Open Today 1-5PM
BEAUTIFULLY UPDATED BRIARWOOD CONDO. Tucked MLS# inside the quiet gated community of Briarwood, this lovely condo Bedrooms enjoys a pretty yard graced with a mature shade tree, manicured Bath shrubbery and a walkway that leads to the handsome front door. Pool Light and airy living room w/vaulted beamed ceiling, floor-toceiling kiva fireplace column. Mezzanine-style dining room w/ Sq. Ft. polished hardwood floors. Kitchen w/contemporary cabinetry, ZIP Code inset ceiling motif w/custom lighting. Bistro breakfast area w/ Online Pics buffet cabinetry, built-in beverage cooler. Office/den w/glassPrice paned entry doors. Comfy-cozy patios, cactus garden, climbing privacy foliage. Close to shopping, dining, freeways, park. Visit tourfactory.com/1212445. See inside for full details and directions.
- 5134291 -2 -2 - No - 1,913 - 85250 - BaldwinTeam.com - $265,000
Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty see more inside AR-0008238944-01