AZ Real Estate 08-31-14

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AZ Real Estate REACH US

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CATHERINE REAGOR REAL ESTATE

Ranking Arizona’s real estate

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One of the many features that Dawn and Marc Richter loved about their newly purchased Scottsdale home was a waterfall built into the foyer wall. “We fell in love with it — and we fell out of love with it,� Dawn Richter said. Now, two months after the family moved in, it’s destined for the Dumpster. Many homes are not picture-perfect when they are first purchased. Buyers must figure out

anking cities and states based on all kinds of data is popular for real-estate researchers and brokerages. Many of the surveys are helpful; others are simply entertaining. Here’s a rundown on some recent ones:  Metro Phoenix has the highest number of homes flipped for a profit, 1,438, during the second quarter of this year, according RealtyTrac. Los Angeles was second with 1,371 flips, Miami third with 1,290. Home flippers in Pittsburgh earned the highest profits, an average of 106 percent.  Phoenix is the eighth most affordable big U.S. metro in which to buy a home, according to mortgage research firm HSH.com. The typical Valley buyer needs to earn $41,250 a year to afford a median-priced home based on current interest rates, the company said. Pittsburgh is the nation’s most affordable metro area; San Francisco is least affordable.  Zillow, not surprisingly, reports it costs more to rent than buy in every major U.S. city. It says Phoenix-area homebuyers would spend less than 18 percent of their income to own a home vs. almost 27 percent to rent one.  Data firm Niche calls Phoenix the 16th best metro out of 25 for Millennials. Pittsburgh ranked No. 15. Niche used census data on rents, incomes and racial diversity and then information on shopping, universities, sports teams and entertainment venues. New York City ranked first; Atlanta was last.  About 20 percent of all Arizona homeowners are still underwater, according to RealtyTrac. Nevada has the highest rate of underwater homeowners at 32 percent. Florida and Illinois are tied for second with 30 percent.  No Arizona city made Nerdwallet’s new list of the

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TIFFANY SPIEKERMAN

Chris and Tiffany Spiekerman hired a general contractor to remodel their house in the Arcadia neighborhood.

RENOVATION EDUCATION 2 Valley couples take different paths in remodeling projects

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SCOTTSDALE | 12209 N. 66th Street | Open Today 1-4PM

SOUTHWESTERN CHARM in the Magic 85254 Zip Code. This MLS# over an ACRE property has everything! A great location, spacious Bedrooms sunlit plan, inviting entertaining spaces, big kitchen, two master Bath suites, spectacular yard, horse privileges and more. Thoughtfully Pool redone interior. Fresh paint, new carpet, three fireplaces, custom cactus-spine shutters, dual pane windows and art niches. Gas cooking Sq. Ft. in the kitchen. Big breakfast room. Impressive Vega beamed family Parking room. Fifth bedroom currently an office. Bonus room perfect for a Lot Size crafts room. Pool, spa and two covered patios out back. Three car ZIP Code garage with custom storage. RV gate/parking with 30amp, 50amp and full hook-ups. Circular drive. Beautiful Sonoran landscape. Online Pics – Joseph Callaway Price

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

- 5161425 -5 -4 - Yes - 4,149 - 3-Car Garage - ACRE-PLUS - 85254 - ThoseCallaways.com - $825,000

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PARADISE VALLEY | 6848 East Meadowlark Lane | Open Today 1–5PM

ELEGANCE PERSONIFIED IN PARADISE VALLEY. Flattered MLS# by a wealth of rich imported brick, the front of this sophisticated Bedrooms home wows with a flower-lined walkway, lush lawn, towering trees Bath and manicured shrubbery. Chandelier-lit greeting salon opens into Pool grand living room w/wall-width butted-glass view windows. Kitchen w/striking golden-hued granite, polished hardwood flooring. Master Sq. Ft. retreat w/elegant boudoir, walk-in dressing closet, large sitting/ ZIP Code reading room, lavish bath. Guest quarters w/own entrance. Rear grounds w/luxurious lawn, European-style garden w/roses, planting Online Pics Price beds, pavered pathways. Generous side-yard for expansion for guest house, sport court, pool. Visit tourfactory.com/1174114. See inside for full details, directions.

Brought to you by Sandra Baldwin, Russ Lyon Sotheby’s International Realty

- 5124833 -4 - 4.5 - No - 4,901 - 85253 - BaldwinTeam.com - $1,699,000

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