Estancia Third Quarter 2018 Luxury Report

ESTANCIA

LUXURY PROPERTY REPORT

Pictured on the cover Villa Bella at Whisper Rock - 7426 E. Sonoran Trail - $2,435,000 See Page 13.

Phone | 602.603.0708 LifestyleCollectionRE.com Š 2018 The Lifestyle Collection

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W E LC O M E INTRO D UCTIO N

Enjoy this issue of The North Scottsdale Luxury Report Welcome to the latest issue of our Luxury Report. This report focuses on homes priced above $1,000,000 in three zip codes in North Scottsdale - 85255, 85262 and 85266. The data for this report comes from the Arizona Regional Multiple Listing Service and is for the period ending September 30, 2018.

For those of you who are unfamiliar with us, we are North Scottsdale’s most innovative real estate team. We take a very different approach to selling homes from much of the industry. We have built multiple successful businesses in the past by disrupting the traditional business models in the industries we served, and are applying this approach to real estate. We like to say we are ‘Real Estate Reimagined’, and our clients confirm this. If you are considering selling your home, please read a few of their testimonials at the end of this report.

This issue is our largest to date, and includes market updates on key North Scottsdale luxury neighborhoods, details on homes we have recently brought to market, as well as case studies on some of our successful real estate transactions. We also want to share some useful information from partners within the luxury home market.

Sincerely

THE LIFESTYLE COLLECTION TEAM

JORDAN AYAN, Partner and Licensed Real Estate Consultant ASHLEY AYAN-HASHIMOTO, Senior Property Stylist JAN AYAN, Partner and Lead Property Stylist NICOLE MORRISON, Property Assistant and Stylist

PHONE | 602.603.0708

OVERV IEW O V E R VIEW

We have great expectations for the seasonal market this year. The trend in luxury homes closing in our market these past few months has been above previous years, and if this trend continues, we are looking at a very solid market this fall and into early next year. To provide some perspective, the number of homes sold in July was 57 percent higher than the same period in 2017. August sales were 26 percent higher and September sales were 8% higher. This is great news as we enter the busier selling months.

The key question on every potential seller’s mind is, “what is my home worth in this market?” We have some tools to help answer this question.

The easiest way to find out is to visit our home valuation website. To use this tool, simply go to our site at https://scottsdalehome.forsale/ PriceMyHome enter your home’s address, answer some simple, non-intrusive questions, and you will instantly receive a report like the one on the right, providing you with a home valuation range. If you are interested in a more in-depth valuation with a higher degree of accuracy, we have statistical tools and models available to provide a comprehensive pricing picture. Just give us a call at 602-603-0708 and we will be happy to produce a complimentary one for you.

The Price Is Right If you are a seller, nothing is more important than hitting the market at the right price. It will determine how quickly your home will sell, and if priced correctly, it should sell close to the original list price. If you want to know how well an agent prices a home, ask this question; “on average, what percent discount do the homes you list sell below the original list price?“ Many agents measure their discount from the most recent list price, which is often a reduced price, not the original list price.

We analyzed the number for many of the area’s top agents and found that some homes sell between 15 and 20 percent below their original price. Unfortunately, some agents will list a home for the price the seller wants to sell for, knowing that in the given market it won’t sell at that price, but, they will get the listing.

Far too many agents take a listing at a higher price, with the intention of just riding the price down to where it will eventually sell, and close to where it should have been priced originally.

PHONE | 602.603.0708

Make sure there is data that supports a listing price and understand that it may not always be the number you want. Some sellers believe their home is worth more than what the market supports, and grow frustrated when it sits on the market. Remember, in the end, it is neither you nor your agent that set the price your home will sell for, it is the market.

The Market Look Good As we stated at the beginning of this report, sales are higher in this market than last year, but adding to the positive news is that inventory is down. The graph to the right shows how many active listings are on the market for each week of the year and compares them to previous years. At the beginning of October of this year, there are 19 percent fewer listings than in 2017.

The good news continues when you look at homes that are under contract or pending. As we go to press, listings falling into these two categories, most of which will eventually close, are up nearly 33 percent over last year.

Median sales price also tells a nice story about our three zip codes. The median price for homes sold in the area is up 3.25 percent from the same time last year, at $730,000.

Sign Up To Receive Future Reports In addition to this, our quarterly report on North Scottsdale, we publish a monthly luxury snapshot of the entire Scottsdale luxury market. If you would like to ensure that you continue to receive these reports in the future, as well as our monthly snapshot report (which is only distributed by email), please visit visit https://scottsdalehome.forsale/LuxuryReport . We only need your name and email address, but if you would like to continue to receive our published reports also, please provide a mailing address also.

Area Reports We produce our specific area and neighborhood reports so that our clients and readers can see statistics on key North Scottsdale neighborhoods and compare them to homes in similar neighborhoods. You will find these broad area reports, zip code reports and neighborhood reports on the following pages.

We send this report to a broad cross section of North Scottsdale luxury homeowners. If you live in a specific neighborhood that is not featured in this report but would like to know the statistics for your specific neighborhood, just give us a call, and we are happy to produce a customized report for you.

PHONE | 602.603.0708

M ARKET STAT I ST I CS RE POR T S | L IS T IN GS

These statistics are for all single family homes listed for sale on 9/30/18 for more than $1,000,000. UCB means under contract backup offers accepted.

8 52 5 5 , 8 5 262, 85266 - ACTIV E LIST PRICE RANGE FROM TO $1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

NUMBER OF LISTING

UCB/PENDING

MEDIAN PRICE

$1,999,999

126

33

20

$1,275,000

$2,999,999

41

7

$1,499,999

$2,499,000

$3,499,999

$3,999,999

$4,999,999

158 50

13

27

27

$5,999,999

11

+

13

$6,999,999

8

10 1

AVERAGE $ PER SQ FT

AVG DAYS ON MARKET

$1,785,000

$373

236

$2,785,000

$510

332

$2,245,000

$297

$426

AVG SQ FT

229

4,355

238

5,556

5,014

6,076

$3,285,000

$549

267

0

$4,500,000

$617

314

7,630

1

$6,495,000

$865

336

7,752

0

0

0

$3,750,000

$556

$5,750,000

$643

$8,249,000

$787

387

235

368

6,176

6,962

9,013

11,551

These statistics are for all single family homes sold between 1/1/18 and 9/30/18 that were originally listed for more than $1,000,000.

8 52 5 5 , 8 5 262, 85266 - SOLD LIST PRICE RANGE FROM TO $1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

$3,500,000

$4,000,000

$5,000,000

$6,000,000

$7,000,000

$1,499,999

NUMBER SOLD

MEDIAN PRICE

270

$1,150,000

$1,999,999

109

$2,999,999

41

$2,499,000

$3,499,999

$3,999,999

44

16

14

$4,999,999

11

$6,999,999

2

$5,999,999 +

5

2

$1,615,996

$2,167,500

$2,500,000

$3,050,000

$3,450,000

$4,150,000

$5,500,000

$4,812,500

$13,900,000

AVERAGE $ PER SQ FT $281

$338

$407

$442

$477

$457

$641

$657

$394

$870

PHONE | 602.603.0708

% OF ORIGINAL LIST PRICE 89.70% 90.3%

89.5%

88.2%

91.0%

85.6%

90.5%

90.4%

60.2%

97.6%

AVERAGE DAYS ON MARKET 175

270

215

247

287

450

153

413

332

1,262

AVERAGE SQ FT 4,223

5,091

5,418

5,953

6,590

7,788

6,868

8,174

12,298

16,250

A RE A R E P O RTS KE Y N E I G HBO RHO O D S S TATIS TICS

NO RT H SCOTTSDA LE SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$12,500,000

$9,200,000

$17,500,000

90.2%

Median

$1,799,000

$1,450,000

$1,400,000

Low

$1,000,000

$450,000

Avg/Sq Ft

$420

AVG DOM

262

85255 SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$11,500,000

$8,495,000

$17,500,000

106.0%

-3.4%

Median

$1,950,000

$1,450,000

$1,375,000

-5.2%

$780,000

73.3%

Low

$1,000,000

$450,000

$780,000

73.3%

$342

$342

0.0%

Avg/Sq Ft

$415

$340

$347

2.1%

230

223

-3.0%

AVG DOM

255

206

213

3.4%

AVG % Of Original List

x

87.5%

89.3%

2.1%

AVG % Of Original List

x

88.60%

86.40%

-2.5%

Sold

x

360

514

42.8%

Sold

x

215

285

32.6%

Active

470

x

x

x

Active

197

x

x

x

UCB/Pending

68

x

x

x

UCB/Pending

32

x

x

x

85 2 62 SOLD

8 5 2 66 SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$12,500,000

$9,200,000

$5,250,000

-42.9%

High

$4,495,000

$2,675,000

$3,050,000

14.0%

Median

$1,874,500

$1,600,000

$1,562,500

-2.3%

Median

$1,450,000

$1,262,500

$1,225,000

-3.0%

Low

$1,030,000

$765,000

$950,000

24.2%

Low

$1,025,000

$1,000,000

$950,000

-5.0%

Avg/Sq Ft

$441

$371

$354

-4.6%

Avg/Sq Ft

$365

$279

$285

2.0%

AVG DOM

286

281

255

-9.3%

AVG DOM

213

214

182

-15.0%

AVG % Of Original List

x

85.70%

87.00%

1.5%

AVG % Of Original List

x

88.40%

89.70%

1.5%

Sold

x

44

63

43.2%

Sold

x

44

63

43.2%

Active

204

x

x

x

Active

69

x

x

x

UCB/Pending

23

x

x

x

UCB/Pending

12

x

x

x

PHONE | 602.603.0708

AR E A REPO RTS K E Y N EIG H B O R H OODS STA TI STI CS

THE BOU LD ERS SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$2,175,000

$2,475,000

$2,185,000

-11.7%

Median

$1,575,000

$1,425,000

$1,172,500

Low

$1,037,000

$1,175,000

Avg/Sq Ft

$378

AVG DOM

192

D E S E RT MO U N TAI N SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$12,500,000

$9,200,000

$5,250,000

-42.9%

-17.7%

Median

$1,969,000

$1,700,000

$1,675,000

-1.5%

$960,000

-18.3%

Low

$1,030,000

$900,000

$950,000

5.6%

$382

$333

-12.8%

Avg/Sq Ft

$477

$393

$365

-7.1%

135

196

45.2%

AVG DOM

293

302

298

-1.3%

AVG % Of Original List

x

92.1%

84.9%

-7.8%

AVG % Of Original List

x

83.5%

86.1%

3.1%

Sold

x

8

10

25.0%

Sold

x

57

85

49.1%

Active

13

x

x

x

Active

105

x

x

x

UCB/Pending

3

x

x

x

UCB/Pending

11

x

x

x

ESTA NCIA SOLD

MI RAB E L C LU B SOLD

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

ACTIVE

1/1/17 - 9/30/17

1/1/18 - 9/30/18

% CHANGE

High

$9,500,000

$4,350,000

$4,375,000

0.6%

High

$2,795,000

$3,800,000

$3,700,000

-2.6%

Median

$2,962,500

$2,550,000

$2,292,500

-10.1%

Median

$1,796,500

$1,500,000

$2,200,000

46.7%

Low

$1,084,743

$1,050,000

$1,100,000

4.8%

Low

$1,249,000

$1,200,000

$1,575,000

31.3%

Avg/Sq Ft

$513

$451

$436

-3.3%

Avg/Sq Ft

$394

$414

$396

-4.2%

AVG DOM

364

414

164

-60.4%

AVG DOM

390

114

233

104.4%

AVG % Of Original List

x

85.1%

83.4%

-2.0%

AVG % Of Original List

x

97.3%

87.0%

-10.7%

Sold

x

14

14

0.0%

Sold

x

9

6

-33.3%

Active

22

x

x

x

Active

7

x

x

x

UCB/Pending

2

x

x

x

UCB/Pending

2

x

x

x

PHONE | 602.603.0708

A RE A R E P O RTS KE Y N E I G HBO RHO O D S S TATIS TICS

SILV ERLEA F SOLD

ACTIVE

1/1/17 - 8/31/17

1/1/17 - 8/31/17

% CHANGE

High

$11,500,000

$7,000,000

$17,500,000

150.0%

Median

$2,995,000

$2,800,000

$2,795,000

Low

$1,525,000

$1,600,000

Avg/Sq Ft

$577

AVG DOM

267

TRO O N VI L L AG E SOLD

ACTIVE

1/1/17 - 8/31/17

1/1/17 - 8/31/17

% CHANGE

High

$3,600,000

$3,500,000

$3,750,000

7.1%

-0.2%

Median

$1,575,000

$1,225,000

$1,295,000

5.7%

$1,400,000

-12.5%

Low

$1,000,000

$450,000

$950,000

111.1%

$502

$525

4.7%

Avg/Sq Ft

$354

$301

$323

7.3%

256

339

32.4%

AVG DOM

283

212

184

-13.2%

AVG % Of Original List

x

87.6%

91.9%

4.9%

AVG % Of Original List

x

87.6%

90.2%

3.0%

Sold

x

29

45

55.2%

Sold

x

24

28

16.7%

Active

48

x

x

x

Active

26

x

x

x

UCB/Pending

8

x

x

x

UCB/Pending

2

x

x

x

TROON NORTH SOLD

ACTIVE

1/1/17 - 8/31/17

1/1/17 - 8/31/17

% CHANGE

High

$4,510,000

$2,475,000

$2,500,000

1.0%

Median

$1,695,000

$1,350,000

$1,240,000

Low

$1,200,000

$995,000

Avg/Sq Ft

$361

AVG DOM

235

W HI S PE R RO C K SOLD

ACTIVE

1/1/17 - 8/31/17

1/1/17 - 8/31/17

% CHANGE

High

$3,590,000

$2,675,000

$3,050,000

14.0%

-8.1%

Median

$2,295,000

$2,300,000

$1,955,000

-15.0%

$985,000

-1.0%

Low

$1,850,000

$1,400,000

$1,500,000

7.1%

$310

$306

-1.3%

Avg/Sq Ft

$407

$323

$360

11.5%

183

206

12.6%

AVG DOM

164

290

156

-46.2%

AVG % Of Original List

x

89.3%

90.1%

0.9%

AVG % Of Original List

x

80.1%

88.5%

10.5%

Sold

x

11

25

127.3%

Sold

x

5

8

60.0%

Active

23

x

x

x

Active

8

x

x

x

UCB/Pending

4

x

x

x

UCB/Pending

1

x

x

x

PHONE | 602.603.0708

W H AT’S HOT I N LU X U RY ?

K E Y L U X U R Y F EA T URES B U YERS A RE LOOKI N G F OR

What’s Hot In Luxury?

The key features many luxury buyers seek are light, bright, and open homes. Buyers are looking for homes that are move-in ready condition, that are fresh, and come with the latest appliances, and technology. Many buyers do not want to take the time to update a home they have purchased unless it sells for a substantial discount to justify the cost of those updates. If your home has been tastefully remodeled, updated, and follows the latest design trends, you can expect it to sell at the best price, and sell quickly.

Appliances The kitchen has always been the heart of a home. Appliance technology is changing, and so too are the desires of many luxury buyers when it comes to what they want in a kitchen. Convection steam ovens are one of the latest trends. Luxury appliance makers Wolf, Dacor, Miele, and Gaggenau have all introduced ovens that fit this niche. These ovens offer the benefits of convection with the addition of steam. Food cooked this way is juicier, cooks more evenly, is healthier, and offers easier clean-up. Expect to see these ovens in many remodels and new builds.

Wine Storage Many luxury homeowners are also oenophiles, so homes with wine storage are also in high demand. The latest trend in wine storage is the wine wall.

These offer the ability to store the same amount of wine as wine cellars in a fraction of the space, which is desirable as square footage decreases.

They also can beautifully showcase a good wine collection. Next on the wine list are the popular wine storage units that can be built into a kitchen or bar.

Wallpaper

Wolf steam oven

Wine wall designed by Heritage Vine of Phoenix

Believe it or not, wallpaper 2.0 is here. What most of us stripped off the walls, or never installed in the first place, is now the current wallpaper trend.

Wallpaper 2.0 brings with it brighter, and bolder colors that can be produced using new technologies in small-runs, and even custom batches. The big trend is in textures on the wall such as grasscloth and silks, combined with color to make for stunning, and unique rooms.

PHONE | 602.603.0708

Cabinetry Cabinetry in the kitchen is more important than ever. Cabinets bring all of the elements in a kitchen together, so they are both a functional, and design element. Buyers are looking for cabinets in custom colors, and often multiple colors with beautiful aesthetics. Transitional styling is much more popular with buyers than traditional styling as it fits with today’s lifestyles.

Pot drawers are in high demand, as are highly functional pantries.

White Boxing A trend in several high-end markets, which we have not seen yet, here in Scottsdale, is a concept called “white-boxing”. Many buyers are looking for something that is updated, while others want the ability to update.

Owners of homes that have spectacular views or other desirable elements, but are dated, tired, and in poor condition are having them stripped down to the shell, providing a blank canvas for the new buyer to remodel the home to their liking. Stripping the home of all furnishings, appliances, cabinetry, and finishes can really allow the buyer’s imagination to envision what the home can become.

Shrinking Size In 2010, the average size of a home sold in the three zip codes this report covers, priced at over one million dollars, was 5400 square feet, and sold for an average of $303 per square foot. Today, the average size home in the same area and price range, has fallen to 4590 square feet, and sells for an average of $354. This is a 15 percent decrease in square footage. When we talk to luxury home buyers and sellers, the most frequent theme is “downsizing”.

Buyers want homes with more utilitarian space, and want to avoid spaces that add square footage that is rarely, if ever, used. Rooms that once were common in these homes such as theaters, libraries, and game rooms are falling out of favor.

New trends in cabinetry

PHONE | 602.603.0708

O UR L ISTINGS PRO P ER T IES F O R SA LE

LA BUENA VIDA

8646 E. Tecolote Circle | Scottsdale 6 Bed

6 Bath

5,538 SQFT

CONTACT US TO VIEW THIS PROPERTY

$1,400,000

La Buena Vida is a stunning North Scottsdale family-friendly home located in a secluded cul-de-sac with six bedrooms and six full baths. This home features a highly sought-after indoor/outdoor floor plan. A split, oversized master suite includes a spa-like bath and shower, his and her lavatories and sinks, separate makeup area, walk-in closet, and coffee bar with mini refrigerator. All five additional bedrooms offer en-suite bathrooms. One bedroom is in an attached casita that includes a kitchenette and living area, with private exterior access. This casita is ideal for guest quarters.

A large chef’s kitchen features an island, six burner Wolf range with griddle, Sub-Zero refrigerator, and dual Asko dishwashers. This area is the perfect place to gather, create inspiring meals, and entertain friends and family.

This home offers some of the most magnificent private outdoor space of any North Scottsdale residence. The centerpiece is a fully glasstiled, Baja step pool and spa, multiple water features, water jets and a firewall that extends across the entire rear of the pool. The masterful exterior living space provides various seating areas, two fire features, kitchen area with BBQ, bar, and seating at an enticing kiva fireplace. Gaze out at the Continental Mountain Range and Black Mountain, while unwinding in any one of these relaxation spots.

Or head up the spiral staircase to the rooftop viewing terrace which offers expansive views of the stunning Sonoran Desert sunsets.

PHONE | 602.603.0708

Encanto is a charming custom home located on a 1.1 acre cul-de-sac lot in the private gated community of Whisper Rock Estates. The impressive mesquite doorway welcomes you into a home where old-world craftsmanship and architecture blend to create a one-of-a kind home with soaring ceilings, rich wood beams, stately masonry fireplaces, and luxury finishes.

A large split master suite boasts hickory wood flooring with hand scraped edges, cantera fireplace and resort-like bath amenities, including a steam shower, as well as an additional exercise/flex room. It features two complete en-suite guest areas, each with private entrances.

ENCANTO AT WHISPER ROCK

33194 N. Northstar Circle | Scottsdale 4 Bed

5 Bath

5,803 SQFT

CONTACT US TO VIEW THIS PROPERTY

A substantial open concept chef’s kitchen/great room/casual dining area offers the perfect setting for family and friends to gather. The kitchen features Sub-Zero, Wolf, Asko and Fisher Paykel appliances including a full-sized Sub-Zero refrigerator and freezer, and a separate wine and beverage cooler in the bar area. Zero indoor steps. Attractive, low-maintenance outdoor space with pool, spa, water feature and firepit, make for cozy relaxation.

This home was constructed with the highest quality materials. Solid block walls make this home extremely energy efficient and structurally sound. The whole house Venmar HEPA filtration air exchange system constantly purifies and refreshes the air. The tile roof is constructed of finest Ludowici tiles and has a 75 year guarantee. The house is extensively wired for current technology and piped for future technology.

PHONE | 602.603.0708

$1,850,000

O UR L ISTINGS PRO P ER T IES F O R SA LE

CASCADA AT WHISPER ROCK

33296 N. Vanishing Trail | Scottsdale 5 Bed

6.5 Bath

6,489 SQFT

CONTACT US TO VIEW THIS PROPERTY

$2,300,000

Cascada at Whisper Rock is a recently remodeled estate nestled in the North Scottsdale community of Whisper Rock. This Territorial style home offers a luxurious Southwestern environment in which to live, enjoy, and entertain.

Situated on a South facing lot on over an acre, this home offers 6,489 sq. ft. of indoor living space and vast outdoor living space, providing the soughtafter Sonoran Desert lifestyle. This home’s interior has absolutely no steps, and offers five bedrooms, all en-suite, a large media room which could also serve as a bedroom, and an 1100 sq ft casita with a large living area, bedroom, full kitchen, separate laundry facilities, and direct access to the outdoors.

The newly remodeled, eat-in, chef’s kitchen is complete with a new sixburner Wolf range with griddle, dual Wolf wall ovens, Sub-Zero French door refrigerator, a separate beverage refrigerator, as well as a warming drawer.

Leathered Spectrus granite countertops with bar seating, tiled backsplash, extensive wood cabinetry, and two large walk-in pantries complete this space. The kitchen flows into the open concept family room with wood inlaid tray ceilings, and a large stone fireplace, and provide the perfect space for gatherings.

The massive split master suite features hardwood floors, soaring tray ceilings, a marble fireplace, and seating or desk area. The beautiful master bath offers dual sinks, marble vanities, jetted soaking tub, and an oversized steam shower with rain head, making this a true retreat. The bath suite connects to a walk-in closet with built-in cabinetry and ample storage.

PHONE | 602.603.0708

Villa Bella at Whisper Rock is a remarkable custom built estate designed by renowned architect, Bing Hu. This home will captivate hearts and minds with it’s stunning, richly designed features. Situated on the fairway of the 7th hole of Whisper Rock’s lower course, this home offers everything to help you enjoy the unique Sonoran Desert lifestyle.

High, beamed ceilings, brick archways, custom oak plank flooring, travertine, and multiple french doors throughout, convey the unique quality and style of this impressive home. The large chef’s kitchen offers abundant natural light, expansive counter space for preparing meals for family and friends, Sub-Zero refrigerator and freezer, center island with vegetable sink, Viking Professional eight burner gas range with griddle and double ovens, separate wall oven, and warming drawer. Custom crafted solid wood cabinetry, and stone and granite countertops complete this remarkable space. A large wine room is just off the kitchen area.

VILLA BELLA AT WHISPER ROCK

7426 E. Sonoran Trail | Scottsdale 4 Bed

5.5 Bath

6,228 SQFT

CONTACT US TO VIEW THIS PROPERTY

The home’s four bedrooms are all en-suite. The master suite offers comfortable space including a seating area with a beautifully carved cantera fireplace. The master bath features a jetted tub, and walk-in shower inlaid with impressive mosaic tilework. There are dual vanities and water closets, along with a large walk-in closet and exercise or flex room. The separate casita includes sleeping and sitting areas, kitchenette, walk-in closet, and an exceptional bath and shower area.

PHONE | 602.603.0708

$2,435,000

O U R LISTING S PRO P ER T IES F O R SA LE

CASA DE CIELO AT WHISPER ROCK

8629 E. Old Field Road | Scottsdale 5 Bed

6.5 Bath

6,651 SQFT

CONTACT US TO VIEW THIS PROPERTY

$2,500,000

Casa Del Cielo at Whisper Rock is a masterfully designed Hacienda style home situated on a 3.6-acre lot, the highest in Whisper Rock Estates, providing unparalleled views of the valley and surrounding mountains.

This home offers the ultimate in privacy, living space, views, and outdoor lifestyle. There is a completely separate guest casita, and a coach house over two of the four-car garages.

This home has been meticulously remodeled inside and out, with extensive landscape and hardscape upgrades, which were featured in Phoenix Home and Garden magazine for its spectacular design. The fully remodeled chef’s kitchen offers dual Wolf ovens with an oversized griddle, French door Sub-Zero refrigerator, handcrafted cabinetry, tile, wood and zinc countertops, and a large walk-in pantry. The kitchen opens to the family room, dining room, and a unique entertainment room complete with a full bar, wine storage, custom bookshelves, and a hidden speakeasy. The cozy seating area by the fireplace rounds out this dynamic space.

All four bedrooms within the main house are en-suite, each with its own private balcony or patio access. The master suite features a spacious separate room for seating and/or tv viewing, that opens to the bedroom with custom built-ins and enough room to include a work or office space.

The beautifully appointed bath includes his and her vanities and sinks, water closet, and large shower with stunning tile work, and a window that offers natural light and spectacular views of the valley. A large laundry room with plentiful storage is located just down the hall from the bedrooms for added convenience.

PHONE | 602.603.0708

B U Y E R CAS E ST UDY UNDER CONTRACT IN 19 DAYS

26477 N 111th Way | Scottsdale 4 Bed

3.5 Bath

4309 SQFT

$1,290,000

THE BACK STORY Challenges: •

This Troon home backed to Jomax Rd., potentially limiting its appeal to a large buyer pool.

•

The sellers embraced a more casual and fuss-free lifestyle where furnishings were unimportant, so some interior spaces were empty.

•

Although functional, rooms infrequently used were sparsely furnished, which could leave potential buyers wondering about how to use the space.

•

Taste-specific accessories detracted from the beautifully unique mosaic inlaid floor tile.

•

Outdoor furnishings did little to demonstrate the beauty of the exterior space, magnificent views, privacy offered, or the appeal of the indoor/outdoor lifestyle the home offered.

WHAT WE DID STYLING - We worked with the client to edit and remove taste specific accessories, decor and furnishings. We rearranged remaining furniture for better flow, and brought in our own furnishings and accessories to define each living space to promote a luxury lifestyle, and added fresh linens and fluffy towels. We curated neutral kitchen dishware to style and refresh the custom, glass front cabinets with those selections, allowing buyers to appreciate the abundant storage, beauty, and openness of the chef’s kitchen. We accessorized the outdoor space with fresh, colorful pillows, accessories, and entertaining items, including a bocce ball area, to highlight and allow buyers to envision the appeal of indoor/outdoor living.

MARKETING - For each property we list, we develop and employ a unique and specific strategic marketing process which allows for increased exposure to a targeted, qualified buying pool. For this home, we used our presence on Zillow which featured the home prominently in all three zip codes we target. We are one of a small number of agents nationwide that have this prominent Zillow placement, and the only agent in zip code 85266. We also ran highly targeted social media campaigns to expose the home’s video to a large potential buyers pool.

RESULTS

Over 20 showings in the first two weeks resulted in multiple offers and on day 19, went under contract, and closed in 45 days for 92% of original list price.

PHONE | 602.603.0708

B UYE R CASE ST U DY Lot 74, 7855 E Whisper Rock Trail | Scottsdale 2.73 Acre Lot

UNDER CONTRACT IN 19 DAYS

$350,000

THE BACK STORY Challenges: •

This property was listed with another agent for 438 days without a sale.

•

On average, Whisper Rock lots remain on the market for 423 days, frustrating sellers.

•

Over the previous three years, lots had sold on average of only 81% of their original list price, which could prompt low offers.

WHAT WE DID We produced custom video and drone media that expanded and enhanced the on-site visit, and allowed potential buyers to view the lot from multiple angles, and realize its potential.

We also walked the lot with buyers, allowing them to have a better perspective of its size.

Thorough research and supporting data allowed us to ensure the lot was priced correctly to avoid long days on the market, yet maximize the price for the seller. We set up a tour of the community and facilities, as well as a meeting with on-site staff, and the Chairman of the Design Review Committee, to discuss the Whisper Rock building process. This meeting allowed potential buyers to imagine their new lifestyle from lot to living.

MARKETING - We implemented a custom marketing plan that allowed us to target key potential buyers. We targeted homebuilders in the area who might have clients looking for a lot, or who might be interested in building a spec home.

We did outreach phone calls to the builders that work in North Scottsdale’s luxury communities, and also targeted agents who had sold lots in the area in the past.

You can view a video about the process in the seller’s own words at - https://scottsdalehome.forsale/LotSale.

RESULTS

The lot went under contract in just 48 days and closed at 93.3% of original list price.

PHONE | 602.603.0708

T HE RISK OF S HORT T E R M R E N TA L S Short-Term Luxury Rentals Home-sharing websites such as VRBO and Airbnb have made it easy to find short-term renters. If you are considering renting your luxury property on a shortterm basis, there are some important risks to be aware of and ways to protect yourself and your assets.

Having the right insurance is essential, especially for high net worth individuals with more assets at risk. Simply stated, homeowners insurance protects an owner-occupied residence. Standard landlord policies cover long-term rentals and exclude revolving, short-term agreements. Some insurance carriers now offer endorsements that can be added to a homeowner or landlord policy for the occasional renter. However, coverage is very limited and not the right solution for a luxury home rented on a short-term basis.

You need comprehensive short-term rental insurance. These policies are designed to protect homes that have a mixture of owner and guest use, alongside periods of vacancy. The quality of coverage will vary by insurance carrier, so using an insurance advisor that has access to multiple insurance companies is critical.

Short-term rental, also known as vacation rental insurance, protects the building, personal property, liability, and even loss of rental income. You can structure the coverage in different ways, so here are some things to consider: Insure the dwelling for what it truly costs to rebuild the home - don’t cut corners. A good insurance partner has calculators to determine accurate replacement costs. Accurate dwelling coverage ensures you are made whole in the event of a loss, and protects you from “minimum insurance� clauses. If the cost of the policy is an issue, opt for a higher deductible.

Personal property coverage is highly individualized. Some homeowners are willing to replace personal property that is lost, stolen, or destroyed. Others want insurance to replace these items. The option is yours, so discuss this with your advisor.

Liability is one of the most important aspects of a short-term rental policy. Protect yourself from claims brought against you by guests, as well as damage or injury your guests cause to others while in your home. Think carefully about the toys and equipment you loan guests. Liability claims, even if frivolous, are often costly. Select the highest liability limit available, and add to your umbrella or excess liability policy.

Select Loss of Income coverage. If the home is damaged and cannot be rented, this provision will help recover lost income. Carriers will either provide a fixed amount or allow you to customize.

Ask your insurance advisor what is explicitly covered and excluded. Asking what is excluded quickly identifies missing coverage you value most. This will help you determine if they can provide the right policy for your needs.

Short-term rentals can be profitable and rewarding. We advise using an experienced insurance advisor who understands the complexity of insuring high-value homes, and those who own them. Not all policies or advisors are created equal.

Kimberly Adams is a client advisor with BridgePoint Risk Management, a national insurance firm with expertise managing the complex needs of businesses, executives, athletes, and entertainers with additional expertise in providing coverage for collections. BridgePoint also administers the Barrett-Jackson insurance program and insureyourwine.com. For questions or to learn more, contact her at 602.842.3281, kadams@bridgepointrm.com.

PHONE | 602.603.0708

C H AR ITY SP OT LI GHT The Center of Hope Haiti We believe in giving back. After each sale, we ask our clients to share the name of a charity they support and make a donation in their honor. In each issue of our publication, we like to highlight their work.

This report’s Charity Spotlight focuses on The Center of Hope (Haiti), Inc. (COHH), an IRS Section 501(c)(3) tax-exempt corporation and an approved Haitian NGO in good standing that has developed, and now operates, a school and orphanage in Hinche, Haiti. Founded in 2004, the mission of COHH is to foster livelihood and hope for the future of orphaned children of Haiti by providing shelter, education, nutrition, emotional security, healthcare, and life skills to the children and their caregivers.

COHH provides a free education to children that would not otherwise be able to go to school in Haiti. Children are admitted at the first-grade level and progress through the grade levels as a class. As of September 2018, 112 children are attending the school in grades 1 thru 8. Children who could not read or write upon entering the school are now reading, writing, and speaking several languages.

We learned of this incredible organization when our clients, and one of the charity’s founders, James and Nancy Lipscomb, offered us the opportunity to sell their Whisper Rock Estates home. We have since attended an event where we learned more about the work they are doing that is focused on educating the next generation of Haiti’s leaders. We are energized by their passion, and devotion to the children COHH serves.

It is our privilege to offer awareness to the charities we and our clients support. If you would like to learn more about The Center of Hope Haiti, and share your support with this truly worthy organization, please visit http://www.centerofhope-haiti.org .

Charities we support

PHONE | 602.603.0708

T E ST IM O N IA L S SOLD THEIR HOME IN TROON IN 19 DAYS My husband and I could not be more appreciative of the professional and expert service provided to us by the entire team headed by Jordan Ayan. Jordan was always the front man, he was there from the first meeting to the last walkthrough and closing. He was there 30 minutes before EVERY showing, and gave us a progress report via text or email after EVERY showing.

We (really it was all Jordan and the team) sold our house in 19 days, very close to our asking price on a house that all the “experts” warned us would take over a year on the market to sell.

See a video testimonial by these client at - https://scottsdalehome.forsale/Testimonial1

SOLD THEIR HOME IN WHISPER ROCK IN 38 DAYS Jordan’s broad experience in the business world gives him a unique perspective as a real estate professional. He sees the bigger picture at all times while paying attention to the details. He does not talk like a real estate broker but remains a stickler for details important to both sides in doing a deal. We were particularly impressed with his disciplined approach to showing our house. All important features were made known to the buyers and he was prepared with answers for all questions. Moreover, he proactively sought information to have available to share with prospective buyers. With Jordan, our house was not just another listing, but rather a home for a prospective buyer.

See a video testimonial by this client at - https://scottsdalehome.forsale/Testimonial2

SOLD A HOME IN WHISPER ROCK AND PURCHASED A NEW HOME We have had the home listed with another agent at other times and felt we needed to interview and look for more. Jordan and his team helped us to understand that there is more to selling a home these days, than just signing up with a Realtor in the neighborhood and hoping you will get showings. Jordan and his team helped us get show ready by staging our home and removing items that were too cluttering and distracting. It truly is a science and understanding of the people that will be purchasing in the price range in which each home is listed. A truly amazing process when you have a realtor who understands the neighborhood,market,homes, pricing and people. Thanks to Jordan and his team we are happily in our new home, which he helped us find in a hurry, and we are successfully out of our previous home, and still in one piece. Thank you to Jan and Ashley for their precise staging abilities and patience. We highly recommend this team!

See a video testimonial by these clients at - https://scottsdalehome.forsale/Testimonial3 PHONE | 602.603.0708

AB OU T U S We are a boutique, licensed real estate consulting firm focused on providing our clients with truly exceptional service, whether buying or selling a home. We bring together a blend of talent in marketing, design, negotiation and real estate, that has allowed us to shift the perspective our clients have about this business.

The real estate world has changed dramatically over the past decade. Today’s consumer controls the buying process and is much more involved in finding homes using web-based tools to locate those that interest them. We embrace this, and invest in programs that reach these buyers when they are searching, to expose them to our listings.

We are one of only a few agents in the country to participate in Zillow’s Premier Agent Direct program, guaranteeing that the homes we are selling for our clients appear frequently in key zip codes. In fact, in 85266, we are the only agent whose listings will always appear near the top of the search page for every search. We also use a variety of social media platforms to actively market every property we list to ensure it is gaining maximum exposure in the places potential buyers will see them.

We have invested in the latest real estate technology marketing tools to help us analyze and understand the market in a hyper-local manner. This report is an example of how we are able to present the data, and how we approach the work that we do. Data helps our clients make informed decisions about real estate investments.

We also work with our clients to ensure their home makes a favorable impression on anyone who sees it. Part of our team is our staging and styling group. They visit every home we list and work with the homeowner to edit, re-design, accent, and highlight the best elements, and can even provide furnishings and accessories where needed. Our homes are frequently awarded “best of tour” honors when we hold broker open houses, further demonstrating our styling team achieves results. If you are considering selling your home, or looking to purchase one, we hope you will give us the opportunity to earn your business. Allow us to show you why we are ‘Real Estate Reimagined.’

PHONE | 602.603.0708

Phone | 602.603.0708 LifestyleCollectionRE.com

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This information in this report is from the Arizona Regional Multiple Listing Service. The author of The Lifestyle Collection and Keller Williams Realty is not responsible for any inaccuracies. Any comments are strictly opinion, and should not be taken as professional advice. You are advised to seek professional advice for any sale or purchase of real estate. If your home is currently listed with another broker this is not intended to solicit that listing.

Š 2018 The Lifestyle Collection

PHONE | 602.603.0708

Each office is independently owned and operated.

If your home is currently listed with another broker this is not intended to solicit that listing.