AFN Real Estate Guide - May 2020

REAL ESTATE

Real Estate Guide Amid uncertainty, downturn not helping homebuyers AFN NEWS SERVICES

W

hile experts say it’s still too early to tell how the pandemic and resulting economic meltdown are affecting the housing market’s long-term prospects, no one seems to be advising buyers that better days are ahead.

The new pressure on available homes for sale is coming from sellers pulling their listings and waiting for better days.

And that’s keeping inventory tight and prices rising – though far more slowly

Bonny Holland

than they were before the pandemic’s full force hit the Valley and the nation.

“There’s no way we get through this unscathed. But I don’t think the world will fall apart in the housing market the way it did in the last recession,” Realtor. com’s chief economist Danielle Hale said last week. “We won’t see prices driven down out of necessity because people were forced to sell like before.”

The Cromford Report, which monitors the Valley’s housing market, announced on April 30: “Still no reason to panic

see MARKET page RE4

Stunning 6 Bedroom + Office 4.5 Bathroom Home situated in the center of a Cul de Sac within the community of Crimson Canyon.

Offered at $599,900

See Page 6

Pristine & Classy Gated Calabrea Estate!

On A Premium 2/3 Acre Hillside Lot

Listed for $1,449,000

Geno Ross

See Page 6

Estate living with refined tranquility in this exquisite setting.

Meticulous stonework adorns entire exterior of this luxury home.

Mike Mendoza

Listed for $1,950,000

See Page 6

Ahwatukee’s #1 Team for Over 30 Years 480-706-7234

Tapestry Canyon - Front

Tapestry Canyon - Back

Magnificent mountain luxury retreat perched high on elevated hillside lot in exclusive gated Tapestry Canyon. 5 br, 5.5 ba with 5,002 sq. ft. This dramatic view home has endless entertaining possibilities. Fabulous custom build offering privacy with expansive mountain views plus city lights.

Listed for $1,510,000

www.MendozaTeam.com

Tapestry Canyon - Front

Mike Mendoza

Tapestry Canyon - Back

Majestic Southwest contemporary estate on elevated 1.24-acre hillside lot with stunning mountain and city light views. 5 br, 4.5 ba with 4,924 sq. ft. Resort-style backyard with slate patio, built-in Viking grill, pool, spa, koi pond and ultimate privacy.

Listed for $1,325,000

RE2

REAL ESTATE

AHWATUKEE FOOTHILLS NEWS | MAY 6, 2020

Ahwatukee housing On the market market remains strong

BY ALLEN HENDERSON AFN Guest Writer

T

he Ahwatukee market remained strong in April despite the reports of a downward trend in the national real estate market due to the impact of the Corona Virus.

The number of units closed is up and the average price took a surprising leap in April.

Ahwatukee property sales in April stayed strong with 122 closed listings at an average sale price of $417,095, This comes on the heels of the $422,623, recorded in March.

The average sale prices recorded in March and April are outpacing the average property value of $374,840 that we saw in 2019. The sales that closed in April probably went under contract in February and March.

Despite the economic disruption caused by the pandemics, the April sales figures are surprisingly robust. The 122 properties that closed escrow in April are down from the 160 properties that went under contract in March, but the April number more closely mimics our usual monthly average number of sales.

I would call the 122 closed listings recorded in April normal for our market.

There are 86 pending sales as of May 1.

There were 94 pending sales when we did our market analysis last month and we predicted that, with reasonable market activity, the 94 pending sales would ap-

pear to predict at least 120 to 130 closed sales in Ahwatukee.

Based on the April results, the current 86 pending sales, with reasonable market activity, should result in at least 120 to 130 closed sales in the Ahwatukee market in May. The average days on market for an Ahwatukee-Foothills closed listing in April was 41 days – down from the average 51 days in March and 67 in February.

The listing inventory had been hovering around 130 units for the past several months. The active listing inventory increased noticeably to 160 units on April 1 and the May 1 inventory has climbed to 181 units. The 181 units currently active is a month-and-a-half supply, which indicates we are still in a very strong seller’s market.

We are a long way from a balanced market, when there is a six-month inventory of active listings.

On April 1, we noted that 22 of the active listings were seven-figure properties, a disproportionately high number for Ahwatukee.

This month the number remains at 22.

Despite the surprising and positive good news about the Ahwatukee market, it is important to note that it is not business as usual.

We are still listing properties and we are experiencing surprising and serious buyer activity and showings as our listings come on the market.

Properties are selling faster than an-

TRUST

see HENDERSON page RE7

Ron & Coleen Tompkins

Of the 22 Ahwatukee homes listed for seven figures, these two are the priciest. Above, this 10,500-square-foot beauty in the 11600 block of S. Equestrian Trail is priced at $3.6 million while the 11,000-square-foot home at left, located in the 14000 block of S. Rockhill Drive, is going for just under $4 million.

Both homes, built in the mid1990s, are loaded with stunning amenities.

(Special to AFN)

Golf course community deterioration – who is responsible?

Master planned communities, with the deep pockets, have not held golf course owners accountable.

Why have small groups of homeowners spent their money battling with these golf courses and developers on behalf of thousands of other homeowners in these golf course communities?

The answers may surprise you.

Learn just how much your state legislators impact the operations of homeowner associations and management companies. There is a major election coming up this fall. Educate yourselves.

Get your copy today at: www.HOAexpose.com Pendent Publishing, LLC • ©Copyright 2020 Kathy Rosko. All rights reserved.

MAY 6, 2020 | AHWATUKEE FOOTHILLS NEWS

*P

E

N

D

IN

G

RE3

*

E L I T E FEATURED HOME

$1,250,000

3 0 4 6 W I N D S O N G D R , A H W AT U K E E , A Z 8 5 0 4 5 5bed+4.5bath • 5,013 sq ft • 23,933 sq ft lot • MLS#6056837

With the Elite Services Program, our select team takes an individualized approach to marketing custom properties. The ultimate service experience is what you can expect from Rachael Richards Realty.

1345 E. Chandler Blvd., Suite 119 Phoenix, AZ 85048 | © All Rights Reserved.

L E T ’ S G E T S TA R T E D .

rachaelrichards.com 480.270.5782

RE4

REAL ESTATE

MARKET from page RE1

AHWATUKEE FOOTHILLS NEWS | MAY 6, 2020

about home values.”

A day earlier, it observed, “We are seeing active listing counts fall in a number of cities now, reversing the trend of the last few weeks. It looks as though, despite the weaker demand under present conditions, there will still be no end to the shortage of supply that has been in place for many years.”

The median home list price rose 1.6 percent annually in the week ending April 25 compared with the same week a year ago, according to the most recent national data from realtor.com pulled from the 99 largest metropolitan areas.

Real estate experts have been predicting that price growth would level off or even dip.

Zillow, an online real estate company, predicted two days ago that prices nationwide would fall an average 2-3 percent but rebound quickly in 2021. But it also said that even before the pandemic, some economic indicators suggested prices would not rise as quickly as they did last year.

Realtor.com and other experts have re-

peatedly insisted recently there’s a major difference between today’s economic meltdown and the 2008 Great Recession where home prices are concerned.

Back then, Realtor.com noted last week, “it seemed like just about anyone could get a mortgage – or two or three.

Today, only buyers deemed less of a risk can score a loan. Credit scores need to be higher, debt-to-income ratios need to be lower and lenders verify incomes much more carefully.”

Then too, it noted, “there was a vast oversupply of homes. So, when the market crashed, there simply weren’t enough qualified buyers to purchase them. And with all of the foreclosures going up for sale, a result of bad loans, home prices plummeted.”

The wild card in any longer-range forecast is that no one knows how long it will take the economy to bounce back – and how long the pandemic influences movement in communities.

“Prices are driven by the rules of supply and demand,” Realtor.com said. “On the supply side, there is a record-low inventory of homes on the market, as sellers have been steadily yanking them

Leading Luxury Home Experts

off. Many don’t want potentially infected strangers walking through their homes and want to wait for the economy to improve so they can fetch top dollar for their properties.

“Others don’t want their homes to linger on the market unsold during a time when fewer transactions are taking place.”

Moreover, even though prices remain high, mortgage rates are continuing a downward trend.

That prompted Robert Dietz, chief economist of the National Association of Home Builders, to say, “I don’t think we’ll see significant price cuts. There’s a lot of young people who want to attain homeownership.”

There will likely be a “sharp decline” in home sales until the threat of the virus and its economic toll have waned, predicted Lawrence Yun, chief economist of the National Association of Realtors, adding sales will pick right back up as soon as things return to some semblance of normalcy. That will also keep prices high.

The luxury market could take the biggest blows, however.

“The higher-priced homes are the ones

that are being withdrawn [from the market] more often,” said Frank Nothaft, chief economist of the real estate data firm CoreLogic. “The lower-priced homes continue to be in really strong demand.”

But not everyone has such confidence that home prices will remain strong.

Ken Johnson, a real estate economist at Florida Atlantic University, expects that prices will fall much more along the lines of what many bargain-hunting buyers have been hoping to see. If the economy reopens quickly, prices may decrease only by 5-10 percent, he said.

But if the crisis and stay-at-home orders go on for another 60 to 90 days, he anticipates prices will plummet up to 50 percent as there won’t be many folks shopping for homes.

“I expect sales to dry up. I expect listings to dry up. I expect showings to dry up,” says Johnson. “I hope for the best and fear the worst.”

Despite that gloomy forecast, Realtor. com said there are other forces at work that may keep inventory low – and, consequently, prices relatively high.

BY JOHN CROW Guest Writer

H

erb is in the market for a new home and his Realtor found the perfect one. It’s priced right on the money, it’s move-in ready, and there’s even an American flag in the front yard, but there is one big problem.

Herb remembers the foreclosure crisis of 2010 like it happened yesterday. He read somewhere that the valley housing market typically cycles every 10 years, and that home prices have exceeded their pre-crash high. Herb believes this indicates a bubble market, primed to pop.

Not wanting to be a sucker, Herb instructs his Realtor to write an offer $5,000 under list price. Herb’s offer is immediately rejected in favor of one that is $5,000 over list price.

Herb’s story is a theme played out frequently in today’s Valley real estate market. Many of us were hurt badly in the last crash and are terrified that it could happen again. Expansion and contraction are

see MARKETpage RE7

THE FOOTHILLS

312 W Mountain Sage Drive

$279,000

1,376 sqft, 3 bedrooms, 2.5 bathrooms. Located in Privada in The Foothills of Ahwatukee this home is close to hiking/biking trails and all the beautiful nature that Ahwatukee has to offer. The first floor of this home offers an open concept family room and kitchen with stainless steel appliances, breakfast bar with seating and access to the patio where you have a lovely courtyard with a mountain view to relax in. Also on the first floor a convenient powder room. The second floor has the master bedroom with a wood accent wall, walk-in closet and master bathroom with a double sink vanity and walk-in shower. Two nice sized secondary bedrooms and a secondary full bathroom. Plus a bonus loft area with many possibilities. Tile throughout. Washer, dryer and refrigerator included.

1126 W Thunderhill Drive

$649,900

2,472 sqft, 3 bedrooms, 2.5 bathrooms. A charming Single Level Spanish Colonial style home located in the private gated community of Rosewood Canyon Estates which sets adjacent to the 16,000 acre South Mountain Park. Enjoy having access to an exclusive entrance to the many hiking, biking and nature trails just a few doors down from this stunning property. With a welcoming entry, find yourself inside this ‘like new’ home with a fantastic open concept main living area blending together; a Great room, dining room and gourmet kitchen to create an amazing space. The Great room & dining room have gorgeous mountain views! The gourmet kitchen is the center of attention! Bright and light with upgraded stainless steel appliances, 36’’ cook top, granite countertops, upgraded cabinets, over-sized walk-in pantry, centered kitchen island with seating and special to this home over-sized pull out drawers for all of your storage needs. Enjoy your relaxing, low maintenance backyard offering both covered and uncovered sitting areas, mature flowering landscape, synthetic grass with South Mountain for your viewing pleasure. Catch the sunsets in the West with mountain views from the luxurious master bedroom. An open, roomy master bathroom with his & her sinks, separate soaking tub and shower, private toilet room and a walk-in closet completes this en suite. With two spacious secondary bedrooms plus a full bath, powder room and an over-sized laundry room this home has all you could want or need. This home is filled with designer upgrades and designed with energy efficiency in mind, this home was certified to be 43% more efficient than the building codes in 2017 and 60-70 % more efficient than re-sale homes, saving you money! Great Ahwatukee Location, Award winning Kyrene Schools! Ahwatukee Foothills Voted #1 2019 Best Places to Live in the Phoenix Area by the Phoenix Business Journal!

602.369.1085 BONNY HOLLAND Ahwatukee Resident and Realtor since 1995

Bonny@LeadingLuxuryExperts.com

NEW LISTING!

ing. While they are staying out of the rewarding-bad-behavior business, they implemented new controls to ensure banks retain enough liquidity to ride out a correction.

Banks responded with stricter lending standards and the pre-crash loan products are mostly gone. Today you can choose between a fixed-rate loan or an ARM, and even the ARM’s have interest rate caps to keep them from moving too high, too fast.

Loans today are fully documented and require a minimum of 3.5 percent versus the stated-income, no-money-down nonsense of the pre-crash era. If you don’t have a 760 or higher credit score, you pay a higher interest rate, and if it’s below 620 you’re not likely to even get a loan. Finally, the appraisers aren’t messing around either. If they can’t prove value, the appraisals are coming in low.

Consumers are putting real money down on their homes. Even with only 3.5 percent down in a market that is appreciating at 6.5 percent per year, everyone

can sell their home after one year in it without coming out of pocket.

Investors are still in the game, but they are using cash to buy the homes vs. the pre-crash era practice of total leverage.

This means that there is more real equity in the local market than at any time in our history.

It also means that when there is a correction, owners won’t be trapped if they need to sell and thus, the crazy downward spiral of the crash is far less likely.

Builders were among the worst hurt in the crash.

In the last ten years, our population grew by 15 percent, but our builders have produced a fraction of what is needed to support the growth. Thanks to a booming economy in the last two years, our growth rate has accelerated.

Our home building is increasing but not nearly fast enough to keep up with population growth, much less the deficit created in the past 10 years.

John Crow is CEO of Century 21 Northwest.

NEW LISTING!

2127 E Barkwood Court

1317 E Thunderhill Place

$349,900

1,787 sqft, 3 bedrooms, 2.5 bathrooms. Lovely home located in The Foothills of Ahwatukee with mountain views and within walking distance to nearby schools. Open and bright with high ceilings and neutral paint this floorplan blends the family room, kitchen and dining room together for a nice functional flow. The updated kitchen features designer wood cabinets allowing for plenty of storage, stainless steel appliances, quartz counters, gorgeous glass tile backsplash and kitchen island with seating. Wood laminate and tile throughout. The backyard has a relaxing atmosphere with sparkling pebble tech pool with a variable speed pump, covered patio, pool side seating, grassy play area and mature landscaping.

$1,499,000

6,640 sqft, 5 bedrooms, 7.5 bathrooms. This is a breath-taking luxury all custom property sparing no expense, which is nestled on the mountain side in the highly coveted gated community of The Sanctuary. The exterior of this home is striking with a private gated and pavered drive that invites you into a spectacular courtyard with covered patios, open sitting areas, a negative edge spa which cascades into a roman style pool all situated to take in the amazing mountain views of South Mountain.

FEATURED LISTING!

THE SANCTUARY

CRIMSON CANYON

NEW LISTING!

14805 S 7th Way

$599,900

3,444 sqft / 6 bedrooms + Office / 4.5 bathrooms. Situated in the center of a Cul de Sac within the community of Crimson Canyon. Walk up the travertine pavered path to the oversized double wooden doors where you are welcomed into an amazing interior! This home has been highly upgraded from wood floors to exceptional lighting. Upon entry into the bright and open interior you will be greeted by a lovely staircase to the right you will find a beautiful formal living room and dining room with a gorgeous chandelier to the left an executive office, a secondary bedroom with a full bath. Perfect for guests or as an in-lawsuite. The remodeled gourmet kitchen is a dream come true. Includes a resort style backyard with views of South Mountain!

AHWATUKEE CUSTOM ESTATES

AHWATUKEE CUSTOM ESTATES

THE SANCTUARY

NEW LISTING

expected cycles in a free market, but this time it’s different.

In the lead-up to the great recession, the real estate market experienced a tetrad of irresponsibility.

First, our government made policy decisions that encouraged extremely lax lending standards. They essentially promised to guarantee any loan a bank would make. Second, realizing that they were in a no-lose situation, banks capitalized and lent money to anyone with a pulse. Third, consumers convinced themselves that if a bank would lend them money, they must be able to afford it.

Fourth, builders raced to a gold rush, believing “if you build it they will come,” and they built and built and kept on building. The result of this tsunami of irresponsibility was a cataclysmic real estate market crash on a scale never before seen.

What’s different this time? Everything!

Government removed the carrots that encouraged bad behavior and established the Consumer Financial Protection Bureau to place checks on predatory lend-

#1 Agent in Ahwatukee Closed Volume 2019

PRIVADA

NEW LISTING!

RE5

Boom or bubble? Fear kills homebuyers’ dream

2016 & 2017 BREA Award for Most Sales in Ahwatukee!

ROSE CANYON ESTATES

REAL ESTATE

MAY 6, 2020 | AHWATUKEE FOOTHILLS NEWS

12675 S Honah Lee Court

$1,499,000

6,316 sqft, 5 bedrooms, 5.5 bathrooms. Located in the prestigious Ahwatukee Custom Estates community, this single level, Mediterranean-style home boasts a combination of old-world sophistication and comfortable charm. The private 6,316 square foot home is nestled in a cul-de-sac on an over half acre lot and boasts 5 bedrooms, 5 and ½ baths, two master suites, a spacious exercise room that can double as a bedroom, a private, gated driveway, gorgeous, mature landscaping, and an elegant courtyard. The formal dining area is intimate and opens to the living room, which has custom wooden beams, a large Cantera stone gas fireplace, and an inline door that merges the indoors and outdoors into an entertainer’s paradise with a diving pool, spa, built-in BBQ and multiple sitting areas with a roof top terrace. The kitchen is right in the heart of it all and includes refinished cabinets, upgraded Viking appliances, a walk-in pantry, and a temperature-controlled wine room. Plus a 4 car air conditioned garage with a bonus art & craft room. There is a lot to love in this beautiful home

www.LeadingLuxuryExperts.com

FEATURED LISTING!

2012 E Brookwood Court

$1,169,900

4,836 sqft, 5 bedrooms, 4.5 bathrooms. Welcome to this fabulous single level custom estate in the hillside gated community of The Sanctuary backing onto wide green belt. This home includes 4,836 sqft of livable space, front courtyard, casita suite with bathroom, 3 additional bedroom suites, 3.5 bathrooms, formal living and dining rooms, gourmet kitchen with new stainless steel appliances, family room, game room, theater room, office, exercise/nursery room, multi-room network wiring with automated controls, 3-car garage and resort style backyard with amazing mountain views!

EAGLE RIDGE

3407 E Tere Street

$1,399,900

5,271 sqft, 6 bedrooms, 5 bathrooms. Absolutely Gorgeous One-of-a-Kind Craftsman with a Basement Located in the Prestigious Community of Ahwatukee Custom Estates. This Home is packed with Today’s Features the Main floor offers a Spacious Gourmet Kitchen Decorated in Re-Purposed Iowa Barnwood with a Large Farm Sink, Subway Tile Back Splash, Quartz Counter Tops and a Large Kitchen Island with Under the Counter Mounted Seating. A Charming Family Room located just off the Kitchen, an Over-Sized Formal Dining Room, 6th Bedroom/Den/Office with its own private Entrance/Exit and full Bathroom and a Massive Laundry Room which doubles as a Craft Room. Upstairs you will find a Loft Area and The Master Bedroom en Suite with Private Balcony, Upgraded Master Bathroom with His & Hers Sinks, Separate Soaking Tub and Shower plus 3 more roomy Secondary Bedrooms and Bathrooms. The Fully Finished Basement Boasts another Bedroom with Full Bathroom, Built-In Playhouse, Walk-In Pantry, Extra Large Open Flex Space for Game Room, Theater Room or Exercise Space the possibilities are endless! Huge Backyard with Tons of Outdoor Entertainment! Pool, Batting Cage, Half Court, Trampoline and Multiple patio and sitting areas! A Must See!

Each Keller Williams Office is Independently Owned and Operated.

FEATURED LISTING!

NEW LISTING!

15802 S 7th St

$2,489,900

7,003 sqft, 5 bedrooms, 4.5 bathrooms. A completely Private Mountain Top Estate located within Eagle Ridge on a sprawling 4.6 acres overlooking the Ahwatukee Foothills with views as far as the eye can see. An impressive, property boasting 7,003 sqft of living space with 5 bedrooms and 4.5 bathrooms. Enter this private property through a personal gate, arrive to a spectacular 2 story home with large columns, a front balcony, over-sized custom wrought iron doors and a pavered circular driveway that displays the overall grandness that continues into the interior of the home. Upon entry you will be greeted by the bright open space with floor to soaring ceiling windows providing amazing views of not only the mountains but of the unbelievable resort style backyard.

AHWATUKEE FOOTHILLS NEWS | MAY 6, 2020

RE6

SPOTLIGHT TLIGHT home

PRISTINE &CLASSY GATED CALABREA ESTATE! PRISTINE & CLASSY GATED ESTATE ON A PREMIUM 2/3 ACRE HILLSIDE LOT • PRIVATE CUL-DE-SAC • 6 BEDROOMS, 4.5 BATHS, 5200 SQFT OF PURE LUXURY FINISHES • STUNNING VIEWS IN EVERY DIRECTION • IRON DOOR • BUTTED GLASS WINDOWS IN ENTRY & KITCHEN • CUSTOM WINDOW TREATMENTS • DECORATOR PAINT • DOME CEILING FOYER & GROIN VAULTED CEILINGS IN LIVING ROOM • TRAVERTINE & HARDWOOD FLOORS THROUGHOUT • 7-INCH BASEBOARDS • MEDIA ROOM • DREAM KITCHEN INCLUDES S/S APPLIANCES,SLAB GRANITE COUNTERS, ALDER CABINETS,HUGE ISLAND,WALK IN PANTRY • LARGE MASTER SUITE W/STONE FIREPLACE • MASTER BATH W/JACUZZI TUB,3 VANITIES & SNAIL SHOWER • PARADISE BACKYARD W/TRAVERTINE IN VERSAILLES PATTERN,TURF GRASS,PEBBLETEC POOL/JACUZZI,4 WATER FEATURES,LARGE COVERED PATIO,STACKED STONE BBQ • 4 CAR GARAGE W/EPOXY & STORAGE! YOUR DREAM ESTATE AWAITS!!

Listed for $1,449,000

Geno Ross (602) 751-2121 www.GenoRoss.com 14805 S 7TH WAY

Stunning 6 Bedroom + Office 4.5 Bathroom Home situated in the center of a Cul de Sac within the community of Crimson Canyon. Walk up the travertine pavered path to the oversized double wooden doors where you are welcomed into an amazing interior! This home has been highly upgraded from wood floors to exceptional lighting. Upon entry into the bright and open interior you will be greeted by a lovely staircase to the right you will find a beautiful formal living room and dining room with a gorgeous chandelier to the left an executive office, a secondary bedroom with a full bath. Perfect for guests or as an in-law-suite. Continue through to the spacious family room with a wood burning stone faced fireplace which blends with the heart of the home, a completely remodeled kitchen. This kitchen is a dream come true with custom white upper cabinets and gray lower cabinets, custom vent hood, custom kitchen island, gorgeous granite countertops, a built-in refrigerator, upgraded lighting throughout kitchen and into the breakfast nook. Access the resort style backyard through French doors which open wide to bring the outdoors in. The backyard remodeled with enjoyment and entertaining in mind offering a heated pool & spa, travertine pavered patio and sitting area with a firepit, built-in BBQ and icebox with counter space and seating all covered by a pretty pergola with lighting. With a grassy area and a half sport court this large backyard has it all including views of South Mountain. Upstairs has an elegant master en suite with a sitting area and remodeled master bathroom with double sink vanity, separate tub & shower, private toilet room and walk-in master closet. Four nice sized secondary bedrooms sharing two Jack and Jill bathrooms complete the second floor. Words do not do this home justice you must come and see this absolutely gorgeous home for yourself to appreciate the amount of time and love that made this house a home. Incredible Mountain Views! Great Ahwatukee Foothills locaton in walking distance to award wining Kyrene Schools and South Mountain Hiking Trails. Ahwatukee Foothills Voted #1 2019 Best Places to Live in the Phoenix Area by the Phoenix Business Journal!

CIRCLE G AT RIGGS RANCH Estate living with refined tranquility in this exquisite setting.

Meticulous stonework adorns entire exterior of this luxury home. Inviting entry opens to diagonally laid tile with granite inlays and dramatic wooden staircase. Formal dining room with stacked stone fireplace. Gourmet kitchen features granite countertops, large island, Subzero refrigerator, and Wolf gas cooktop with double ovens. Fireplace and wet bar in great room. Floor plan boasts seven bedrooms, playroom and large game room. Expansive master suite includes large sitting area with two-way fireplace, crown molding, separate walk-in closets and spacious bathroom. Three custom iron doors lead to massive covered patio with pavers, built-in barbeque, heated pool with waterfall and slide, gorgeous landscaping with fruit trees and koi pond.

Large secondary bedrooms. Oversized laundry room with sink, granite countertops, cabinetry and room for a refrigerator. Additional upgrades throughout include 8’ solid core doors, speakers, surround sound in numerous locations, designer paint and exterior security cameras.

Three masonry fireplaces. Anderson windows installed six years ago on entire first level. Four Trane a/c units with variable speed. Over-sized side entry four car garage.

Availability to park an RV in the back as long as a garage is built for it. Over 7,000 square feet of stone on exterior.

Almost acre-sized lot affords complete privacy.

Listed for $1,950,000

Listed for $599,900

kw

®

Bonny Holland

KELLER WILLIAMS® REALTY

602.369.1085 • www.LeadingLuxuryExperts.com

kw

SONORAN LIVING

®

Mike Mendoza

SONORAN LIVING

KELLER WILLIAMS® REALTY

480.706.7234 • www.MendozaTeam.com

REAL ESTATE

MAY 6, 2020 | AHWATUKEE FOOTHILLS NEWS

MARKET from page RE4

Nationally last year, builders put up 900,000 houses, but Realtor.com noted, that a reduced demand “will likely translate to fewer homes being erected in the near future.”

Realtor.com noted, “The majority of Americans are still employed. And mortgage interest rates are at record lows.

They’re hovering around 3 percent, unlike the more than 6 percent they were at the beginning of the Great Recession.

Hale said, “Home sellers are strongly resistant to lowering prices and they’d gotten really close to declining, so we see a bounce-back.”

But, she added, “I don’t think this is a return to big price increases.”

“Buyers may still struggle with finding the right home among limited options,” Hale said. “It may feel like, ‘what you see is what you get.’”

But that doesn’t mean the housing market is a bright spot in the economy.

“It’s obvious that the housing market is still struggling in this crisis,” said Realtor. com Senior Economist George Ratiu.

“There’s clearly a disconnect between

480-706-7234

sellers still active in the market and potential buyers,” Ratiu added. “Homes that were priced for January 2020, when the economy and employment were still growing, are not likely to sell for the same price in the current downturn.”

Given the uncertainty, though, Cromford said the Valley home market may still produce some surprises.

Or it may not.

“In today’s environment,” it said, “everything is uncertain. Perhaps, when they see more listings going under contract, sellers will emerge from the places they have been hiding. Perhaps the number of people losing their jobs will put a cap on how many buyers we see.”

Later in the week, it added, “The trend in sales volumes is still down, but the trends in active listings and listings under contract are starting to look more favorable to sellers.

“The downward momentum over the past week was still strong, but not as strong as the three previous weeks.

There are good reasons to think this rapid fall will not continue for too much longer. But how many weeks we have to wait, we cannot say at the moment.”

HENDERSON from page RE2

ticipated. Prices are up. However, it is extremely important for agents, sellers and buyers to be vigilant and employ caution in pursuit of their real estate endeavors.

It is critical for buyers, sellers and agents to respect and follow the guidelines for social distancing. The use of a mask is becoming more the norm. The use of hand sanitizers and efforts to sanitize light switches and doorknobs and even lockboxes and keys are increasingly important.

We encourage our buyers to drive in their own vehicles while we drive in our vehicle to protect from any contagion. We are encouraging sellers to leave the property for showings and to turn on all of the

GOT NEWS?

Contact Paul Maryniak at 480-898-5647 or pmaryniak @timespublications.com

Ahwatukee’s #1 Team for Over 30 Years 5 BR / 5.5 BA / 5,002 SQFT 5 BR / 4.5 BA / 4,924 SQFT

Magnificent mountain luxury retreat perched high on elevated hillside lot in exclusive gated community with majestic views.

Tapestry Canyon !

LD O S

Listed for $1,510,000

Majestic Southwest contemporary home on private hillside lot with stunning mountain and city light views.

Tapestry Canyon

Listed for $1,325,000

Mike Mendoza MendozaTeam.com

D! L SO

5 BR / 3.5 BA / 4,839 SQFT $50,000 update allowance now included on this outstanding hillside custom with amazing mountain and city light views.

Listed for $1,099,000

Tapestry Canyon

JUST LISTED!

3BR / 2 BA / 2252 SQFT

Tempe

RE7

lights so buyers and agents don’t have to touch light switches in the property.

We encourage the buyers to enter the property ahead of us and we follow at least six feet behind and are encouraging sellers to sanitize light switches and doorknobs on their return.

It is still a great time to buy or sell a property in the Ahwatukee-Foothills real estate market. More importantly, it is possible to conduct a real estate transaction safely, even in the midst of the pandemic, if everyone involved conducts themselves prudently and follows established guidelines to protect themselves and others.

Ahwatukee resident and Realtor Allen Henderson of Henderson Real Estate can be reached at 480-392-2090 or allen@homesahwatukee.com.

New flooring, granite countertops, newer roof and 2019 A/C replacement. 3-cargarage plus a pool.

7 BR / 4.5 BA / 8,873 SQFT

Listed for $425,000

Listed for $1,950,000

Estate living with refined tranquility in this exquisite setting. Meticulous stonework adorns entire exterior of this luxury home.

Circle G at Riggs Ranch

AHWATUKEE FOOTHILLS NEWS | MAY 6, 2020

RE8

Calabrea

Ahwatukee Custom Estates

$2,099,000

$1,449,000

SOLD! Pristine & Classy Gated Estate On A Premium 2/3 Acre Hillside Lot, Private Cul-De-Sac, 6 Bedrooms, 4.5 Baths, 5200 Sqft Of Pure Luxury Finishes, Stunning Views In Every Direction, Iron Door, Butted Glass Windows In Entry & Kitchen, Custom Window Treatments, Decorator Paint, Dome Ceiling Foyer & Groin Vaulted Ceilings In Living Room, Travertine & Hardwood Floors Throughout, 7-Inch Baseboards, Media Room, Dream Kitchen Includes S/S Appliances, Slab Granite Counters, Alder Cabinets, Huge Island, Walk In Pantry, Large Master Suite W/Stone Fireplace, Master Bath W/Jacuzzi Tub, 3 Vanities & Snail Shower, Paradise Backyard W/Travertine In Versailles Pattern, Turf Grass, Pebbletec Pool/Jacuzzi, 4 Water Features, Large Covered Patio, Stacked Stone Bbq, 4 Car Garage W/Epoxy & Storage! Your Dream Estate Awaits!!

One of the most amazing view lots in all of AZ. Custom home with everythingl 10,000 sq. ft., 3/4 acre prserve lot, 6 bedrooms, 6 bathes, Executive Office Suite, Master Suite with Sitting Room, Master Bath with Jacuzzi, Theater Room, Exercise Room, Loft, Guest House, Grand Foyer, Gourmet Kitchen, Resort Backyard with Pebbletec Diving Pool, Watertalls, slide, Volcano, firepit, Spa, Sport Court, Grassy Play Areas, & Outdoor Kitchen, 4-car A/C Garage. A true masterpiece!!!

Ahwatukee Custom Estates Stunning Single level custom estate

SOLD!

Calabrea $1,099,000

Cabrillo Canyon $689,000

located on a huge lot at the end of a culde-sac with a 6-car garage. Completely remodeled with the highest quality finishes. Everything is new. Grand Foyer. Living Room w/fireplace. Formal Dining Room. large Family Room w/full wet bar. Media Room & Game Room.

Kitchen includes custom cabinetry, rare quartzsite counters, Thermador appliances. Stunning South Mountain views. An estate like this rarely becomes available!!!

$1,299,000

Summerhill $1,099,000

5 bedroom / 3 bath, 3,506 SqFt, Cul-de-sac location with huge backyard, sports court, built-in BBQ, mature shade trees, very private backing to wash. Good size SOLD! bedrooms, master downstai5. Features a large office with balcony, plus office/loft with built-in bookcase and 3 full baths. Th� home is perfect for family gatherings BEST NEAR THE LOOP 202 in gated withand stunning mountain only. views. andLOCATION entertaining.

CanNEW be previewed with 24Calabrea hour notice appointment

SOLD! Stunning Single Level Custom Remodel on a huge corner lot in a cul-de-sac! *4 Bedroom, 2.5 Bath *The highest quality custom finishes throughout *Grand foyer *Formal living & dining room *Familt room w/fireplace *Wetbar *Designer kitchen includes: quartzsite counters & island, s/s appliances, custom cabinetry, walk-in pantry *Recessed LED lights throughout *Plantation shutters *Large master suite *Master bath w/walk-in shower, free standing tub, & walk-in closet *Laundry room w/sink *Wood flooring *Custom fixtures *Trane A/C’s *Private backyard w/covered patio, pebbletec pool, turf, & RV gate with tons of room to park the toys *3 Car garage with epoxy *The lot is very private *The house shows like a new build *Do not miss your opportunity to own this amazing Cabrillo Canyon Estate!

Complete with the highest quality build and finishes. Gourmet kitchen includes slab granite counters, alder cabinets, and stainless steel appliances. This estate also features a media/ theater room with 105 inch screen. The basement includes a full wet bar, family room & 2 bedrooms. Resort Backyard with pool. A perfect 10!

www.GenoRoss.com Donna Leeds

�

TOP GRI, ABR REALTOR

®

949.310.5673

lf"fl!

SOLD!

Geno Ross

Stunning single-level custom estate gated summerhill on a 1/2 acre lot. beautiful mountain views. Gourmet Kitchen. Master Suite w/sitting area. Two master suites. Split floorplan. Executive office w/built-in cabinets. Tropical paradise backyard w/covered patio, gazebo, pebbletec pool, rock waterfall, built-in bbq, turf, & putting green. This estate has the perfect floorplan!!

602.751.2121

wwwBestAgentWUSA.com

Making Ahwatukee

Home Dreams Come True Since 1986 www.WestUSA.com I 480.893.0600

4505 E. Chandler Boulevard, Suite 170, Phoenix, AZ 85048

Gilbert

Pointe South Mountain

SOLD!

$397,000

Gorgeous Ahwatukee home, an absolute dream, 2254 square feet, 3 bedrooms plus den/loft, 3 full bathrooms, 2 car garage, newly installed hardwood floors, Updated galley kitchen & cabinets, granite countertops & stainless steel appliances.

Travertine in kitchen and bathrooms. Enjoy your beautiful back yard overlooking the golf course and custom made fountain.

Jenifer Bulfer 480-297-6968 jbulfer@westusa.com

Ahwatukee

$559,900

PENDING!

Single Story in the Gated Community of La Mirada, in Seville a golfing community w/Clubhouse, community pool, restaurant & amazing amenities! Split floor plan, w/ GREAT ROOM & Formal Dining Room. Gourmet kitchen w/slab granite countertops. 3 car tandem garage! North/ South lot!

LaDonna Underwood 480-415-0194 ladonnahomes@gmail.com

Club West

$499,900

$395,000

4 bedroom, 3 bath, 3252 Sq Ft. This gorgeous family home with it’s backyard oasis combines the best of indoor and outdoor living . The remodeled kitchen overlooks the dining/family room with gas fireplace and offers granite counter tops, stainless appliances, duel ovens, wet bar and large pantry. Recently repainted inside & out and re-carpeted in 2019.

Just Listed! Desirable Single Level in the Foothills! 2209 Sq.Ft. 3 Bedrms 2 Baths. Plus Office. Open Floorplan, Spacious Kitchen & Family Areas. Well Maintained. Lovely Home.

Troy Royston 480-435-3461 troyston61@gmail.com

Canyon Springs

Club West

Geri Thompson 480-239-7589 gerithompson@westusa.com

$545,000

SOLD $565,000 SOLD!

Impeccable, Executive 5 bedroom/3.5 bath home in Foothills.

This popular model includes formal living/dining areas plus a huge great room w/ gas fireplace. Enjoy your private oasis backyard w/ extended covered patio, refreshing pebbletec pool/spa, paver walkways & sitting areas, and artificial turf.

Jill Ostendorp 480-678-7308 jillo@homesbyjillo.com

Foothills Golf Course Lot!

CALL FOR PRICING!

Beautiful updated 3 bed +loft 2.5 bath home on a golf course lot with newly remodeled pool, mountain views & on a cul-de-sac street. Home has been updated & has kitchen, family room, bedrooms, loft & walk out patio with views. This well taken care of home features open floor plan with neutral colors. Make this house your home!

Deborah Casey-Shasky Associate Broker 602-818-3962 debcs@cox.net

$549,900

MULTIPLE OFFERS RECEIVED

UNDER CONTRACT IN TWO DAYS!! Immaculate home with Million Dollar Mtn and Golf Views await you in this spacious single story home. As you enter, unwind in sunken Living room, cozy family room. Enjoy cooking in your gourmet kitchen w/ refaced cabinets, SS appliances, granite counters & reclaimed wood barn doors to pantry/laundry.

Jill Ostendorp 480-678-7308 jillo@homesbyjillo.com

Chandler

$549,900

SOLD!

Custom home located on one acre irrigated horse property. 2,210 sq ft-4 Bed plus den 2 bath . Built in 2003. Home features three car extended garage, vaulted ceilings, split floorplan.

Tracy Bartosch 520-440-9988 realtortracy@msn.com