tramonto lifestyle
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Real estate and lifestyle content for Phoenix, AZTRANSCRIPT
Valley Real EstateWhat Does 2013 Have in Store?
Signature Cuisine from a Venerable Valley FavoriteLON’s at The Hermosa’s Pork Tenderloin
TramontoReal Estate Report
Ideas to Freshen Up Your Interior Design
Tramonto
If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Address Sq. Ft. / Bed / Bath Year Built List Price List Price per Sq. Ft. RECENTLY LISTED FOR SALE: 34844 N 30TH AVE 1,187 / 2 / 2 2003 $140,000 $117.943411 W ZUNI BRAVE TRL 1,941 / 3 / 2 2004 $255,000 $131.38 3421 W FLORIMOND RD 1,958 / 3 / 2.5 2005 $276,000 $140.96 3046 W EAGLE CLAW DR 2,882 / 4 / 3.5 2002 $296,702 $102.95 3017 W TRAPANOTTO RD 3,936 / 5 / 3.5 2002 $314,900 $80.01 2414 W FLORENTINE RD 3,161 / 4 / 2 2004 $324,900 $102.78 2741 W DARIEN WAY 3,113 / 5 / 2.5 2002 $374,990 $120.46 2611 W LANGUID LN 3,207 / 4 / 3 2004 $399,700 $124.63
Address Sq. Ft. / Bed / Bath Year Built Sold Price COE Sold Price per Sq. Ft. RECENTLY SOLD: 3034 W VILLA CASSANDRA DR 2,024 / 3 / 2.5 2003 $180,000 12/12/2012 $88.933456 W FLORIMOND RD 1,958 / 3 / 2.5 2005 $210,000 12/7/2012 $107.253029 W RAPALO RD 1,850 / 3 / 2 2003 $234,500 12/7/2012 $126.763207 W DONATELLO DR 3,155 / 4 / 3 2004 $299,900 12/7/2012 $95.063220 W CARAVAGGIO LN 2,669 / 5 / 3 2003 $269,900 12/5/2012 $101.123334 W GRAN PARADISO DR 2,450 / 4 / 2.5 2012 $285,000 11/30/2012 $116.3335310 N 31ST DR 2,192 / 3 / 2 2003 $204,300 11/28/2012 $93.202622 W SAT NAM WAY 1,431 / 3 / 1.75 2002 $146,000 11/22/2012 $102.0335025 N 30TH DR 1,534 / 3 / 2.5 2005 $161,500 11/22/2012 $105.282322 W VIA PERUGIA 4,380 / 4 / 3.5 2005 $340,000 11/19/2012 $77.6334713 N 21ST LN 1,760 / 3 / 2 2007 $210,300 11/14/2012 $119.492634 W TRAPANOTTO RD 3,402 / 4 / 2.5 2003 $370,000 11/6/2012 $108.762633 W PERDIDO WAY 2,126 / 3 / 2 2002 $252,000 11/5/2012 $118.5335330 N 27TH LN 2,851 / 4 / 3.5 2002 $295,500 10/31/2012 $103.652626 W FLORIMOND RD 4,178 / 4 / 4 2004 $365,000 10/31/2012 $87.362510 W FLORENTINE RD 1,361 / 3 / 2 2002 $161,300 10/30/2012 $118.522512 W OLD PAINT TRL 2,483 / 4 / 3.5 2003 $220,000 10/30/2012 $88.603401 W MONTELLO RD 2,126 / 3 / 2 2003 $230,000 10/30/2012 $108.183226 W FLORIMOND RD 1,300 / 3 / 2 2012 $191,598 10/29/2012 $147.383237 W LEISURE LN 2,230 / 4 / 2 2004 $250,000 10/29/2012 $112.112605 W LUCE DR 2,014 / 4 / 2 2003 $234,000 10/25/2012 $116.192327 W VILLA CASSANDRA DR 5,539 / 4 / 3.5 2005 $483,000 10/25/2012 $87.203247 W GRAN PARADISO DR 1,300 / 3 / 2 2012 $176,401 10/22/2012 $135.6
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
REAL ESTATE ACTIVITY INTramonto
Happy New Year, neighbors! As we start the year 2013, let’s take a quick review of 2012. A shortage of homes for sale, record low interest rates and affordable purchase prices caused bidding wars in 2012. ARIZONA RANKED #1 in the nation for gains in home prices. Home prices in Phoenix area rebounded at the highest rate of any metro area in the country during the past year. Across the nation, prices increased in 18 of 20 cities over the 12-month period. In Phoenix, prices jumped 20.4% over that stretch to lead all cities, Standard & Poor’s/Case-Shiller reported. FORECLOSURE DISCOUNTS HAVE VANISHED IN PHOENIX. “The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability,” says Stan Humphries, Zillow’s chief economist. The smallest foreclosure discounts can be found in: Las Vegas (0%); PHOENIX (0%); and Sacramento (0.7%). LESS PHOENIX-AREA HOMES HAVE UNDERWATER MORTGAGES. Slightly less than half of homeowners throughout metro Phoenix are now underwater on their mortgages, according to a report by Zillow in November. About 45% of Valley homeowners were underwater during the third quarter – a 13% drop from the two previous quarters when slightly more than half were underwater. Check with your mortgage company to see if you qualify to have your PMI (Private Mortgage Insurance) removed from your monthly payment. One of my clients saved over $200/month! Call Patrick to see if you can refinance at a lower interest rate and reduce your monthly payment.
www.TramontoNews.com
Kelli GrantYour Tramonto Real Estate Specialist
Call or Text: (602) [email protected]
www.PhoenixHomeResource.comPLATINUM PREMIER REALTY
January | February 2013
Kelli Grant is proud to be a Preferred Realtor helping W.L. Gore employees buy homes and relocate to the area
from all over the country every month.
Real Estate Status as of December 16th: 30 ACTIVE LISTINGS / 24 PENDING SALES in Tramonto. Year-to-Date, 171 properties sold in 2012 through MLS. 27 properties closed sale between Oct 16th and Dec 16th at an average of $105.39/sq ft compared to the overall annual average of $92.66. If you are thinking of selling, contact me for a complimentary
Value Analysis. As your neighborhood real estate expert, we can discuss your options and a proactive strategy to sell your property for the highest amount possible.
Patrick ObluckTeamwork . Empowerment . Positivity . Excellence
Patrick ObluckMortgage Banker | MLO #197206
Cell 480.231.2354 www.LoanManAZ.com
34406 N 27th Dr., Suite 140 Phoenix, Arizona 85085NMLS - 322405 | AZ BKBR-0116448
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act
Pinnacle Capitalmortgage corporation
HAPPY NEW YEAR!One of my resolutions for 2013 is my commitment to create awareness of local charities. I started working with a group
called North Valley Community Outreach. Our goal is to host events that will benefit local groups here in our little part of the
desert. Our first event was a wine tasting with the proceeds helping the Foothills Food Bank. Our next event is coming up
in a few weeks and proceeds will benefit a local horse rescue. Visit Facebook.com/AZNVCO and like the page for more
information on this and other events.
Like our page and list your favorite local charity for a chance to win a $50 gift certificate to Vino 100.
Makingahomeunique,special,andpersonallyintuitivearechallengeseveryhomeownerencounterswhetherthehomeis1,500squarefeetor15,000squarefeet.Often,ahomeneedsjustatouchofglamour,orspecialvisualinterests,totakeitfrom“nice”to“knock-out!” Nomatterthesizeofthehomeorspace,therewillalwaysbecommonissuestocontendwith.Forexample,howtobringinteresttothatspace?Whatwillmakeahomeorspacestandapartfromanotherone?Howshouldlargespacesbefashionedtofeelmoreintimate?Howcansmallerspacesfeellarger? Designingahomeorspaceproperlycanalsobequiteaninvestment.Ifandwhenahomeownerdecidestoselltheproperty,thehomeshouldstandalonefromtheotherchoicesonthemarket.Creatingfascinatingandcompellingdetailsisoptimum,inthatthoseremarkableelementsandappealingdesignchoiceshopefullywillremaininthememoriesofthosewhoareviewingyourhome. Inmanyinstances,atouchofdramaisagreatwaytocreateinterestingspaces.Thetrickthough,istounderstandexactlywhatthatmeansandhowtoachieveit.Forlargerspaces,thereisusuallyabitofastrongerchallenge,butproperlydesigningthespacewillcertainlyincludefocusingonatleastoneareaintheroomtoaddthattouchofdrama.Fireplaces,interestingart,importantpiecesoffurniture,beautifulviewsandconversationareaswillhelpdeterminethosefocalpoints. Theoppositewillbetruewhendesigningsmallerspaces.Inthiscasethechallengeisusuallytomakethespacefeellarger.Thebestwaytoachievethismaybetosimplify.Forasmallerspace,thismaybeachievedbydeterminingafocalpointintheroomandaddressingitwithsomethingthatwilldemandattentionwhensomeoneentersthespace. Whenincorporatingsomedrama,youmighttakeacuefromcurrentdesigntrends.Forcolor,the“newneutral”isdefinitelygray-notanicygray,butmoreofawarmgray.Thatgrayisbeingpairedwithallsortsofotherfashionablehuessuchasyellow,applegreen,andpurple.
Organicshapesversusgeometricorlinearlinesareon-trendnowandcanbeseeninfurnishings,fabricsandevenwalldécor.Wallpanelsinallsortsofmaterials,shapesandpatternsareawaytomakeabigimpact.CheckoutInterlockingRockpanelsbyModularArts.comforinspiration. AstatementheadboardintheMasterBedroomisanothersurewaytocreatedrama.Theseheadboardscanbeupholsteredinallsortsofgorgeousfabrics,craftedfromwoodorevenmadeoutofleather-upholsteredlargemosaicpieces. Often,theuseofinterestingtextureisallthat’snecessary.Asimplewallorothermundanearchitecturalelementcanbeabsolutelytransformedwiththeapplicationofmaterialssuchasstone,metal,tiles,crystals...theoptionsareaslimitlessasyourimagination! Now,getyourimaginationworkingonoverdriveandplantoputalittlepanacheinyourhome’sdesignaswell!
Debra May Himes, Principal of Debra May Himes Interior Design & Associates, LLC can be reached at 480.497.2699 and DMHDesign.com.
By Debra May Himes, ASID, LEED AP
PORK2wholeporktenderloins,trimmed,reservetrimmingssaltandblackpepper
ProcedureBrowntheporktenderloininahotpanandplaceina350degreeovenfor12minutes.Allowtorestoutsidetheovenforfiveminutesbeforeslicing.
SWEETPOTATOMASH2largesweetpotatoes,cutintosmallpieces11/8tsp.cinnamon1/4lb.butterpinchofsalt
ProcedureBoilandmashpotatoes.Mixinthecinnamonandbutter.
BABYGREENBEANS1/4lb.babygreenbeans,cleaned1Tbs.buttersaltandblackpepper
ProcedureInalargepotofrapidlyboilingsaltedwater,cookgreenbeansuntiltender.Strainandtosswithbutter,saltandpepper.
PRICKLYPEARBRAISEDREDCABBAGE1/2headchoppedredcabbage1/2cuppricklypearpuree1/2cupbalsamicvinegar1/2largeyellowonion,chopped1/4lb.apple-smokedbacon,choppedsmall2Tbs.canolaoil
ProcedureInalargepotwithacover,brownthebaconinthecanolaoil.Addonionsandcookuntiltranslucentonlowheat.Addcabbage,pricklypearpureeandbalsamicvinegar.Coverandcookonlowheatuntiltender.Thiswilltakeabout1to11/2hours.
PORTWINESAUCEreservedporkscraps4Tbs.choppedshallots2sprigsthyme1cuprubyredportwine2cupsvealstock
ProcedureInasmallsaucepot,brownporkscrapsonhighheat.Addtheshallotsandsautéuntiltranslucent.Addportandreduceitovermediumheatbyhalf.Addvealstockandheattoasimmer.Reducesauceuntilitlightlycoatsthebackofaspoon.
Aswelookbackupon2012andforwardto2013,weseethatthePhoenixhousingmarketiswellunderwaywithahealthy,managedrecovery.Infact,Phoenixcontinuestoleadthenationinitsrecoveryandweexpect2013toshowanevenbrighteroutlookthan2012. Westillhavealong-termsupplyshortageforresidentialhomes,althoughithaseasedconsiderablyatthebottomendofthemarketcomparedwiththespringoflastyear.Duetotheusualdipinhigher-endhomessalesvolumes,pricingtendstobealittleweakerduringthesummer.ThiswasstilltrueinSeptemberwhenpriceswereonlyslightlyhigherthaninAugust,JulyorJune.Howeverthecompari-sonwiththesummerof2011isstark.Averagepricepersq.ft.wasupover23%sinceSeptember2011andnowthatwearemovingintothecoolermonths,pricesareresumingtheiradvancewithgreaterspeed. Manycitieshaveseenverylargeincreasesinaveragepricingoverlastyear.Thishasencouragedmoresellerstoenterthemarketandweareseeingasignificantincreaseinsupplyinmostareas.InvestorpurchasesaredownfromthepeakinJulyandAugustandwillprobablydeclinefurther.Investors(asopposedtospeculators)tendtoreacttorisingpricesbyreducingtheirappetiteforadditionalhomes. Mosthomesbelow$250,000thatarepricedrealisticallyarestillattractingalargenumberofofferswithinashorttime,andofferswilloftenexceedtheaskingprice.Itisstillmuchquieterintheluxurymarketandactiveadultsectorbutpricesarefirminghereasweentertheseasonwhen
snowbirdsreturntotheValley. Withthecurrentstabilityinpricing,appraisalshavehadachancetocatchup,sorecentlyappraisalshavetendedtocomeclosertocurrentmarketvalue.Withrenewedpriceescalation,weexpectlowappraisalissueswillreemergeduringthefirstquarter. Thesituationfortheaveragehomebuyerremainsfairlydifficultdespiteextremelylowinterestratesandstill-cheappricesbyanyhistoricalstandard.Thisisbecausethenumberofhomesforsaleisstillwellbelownormalandwell-fundedinvestorsarestillhereinsufficientnumberstomakeveryseriouscompetitionwithmultipleall-cashofferswithfewstringsattached.Manyordinarybuyerscontinuetocomeawayemptyhandedaftersubmitting10ormoreoffers.
Investorsarefocusedprimarilyonthelowerpriceranges,wheretherentalreturnoninvestmentishighest.Sopriceshavecontinuedtomovehigherforhomesbelow$250,000.Aftermovingbackwardsforawhilein2012,theupper-endofthemarketisstartingtoshowrenewedsignsoflife. Nowthatcoolerweatherhasreturnedweanticipatestrongerpricingtobereportedalbeitonweakersalesvolumes.Inanormalmarket,risingpricestendtoreducedemandandsoinhibitsalesvolume.Wesawtheoppositebehaviorin2004and2005whenstrongpricegainsdrewinanincreasednumberofbuyersinafrenzyofspeculation.Today’smarketisrelativelywell-behaved.Investorsareriskingtheirownmoneyratherthanborrowedfunds,soriskisbeingmorecarefullymanaged. Webelievethat2013willcontinuetobeayearinwhichhomepricesriseanddemandremainsstrong.
Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business, and Principal of The Cromford Report.
PFChang’sRock‘nRollMarathonSeriesPhoenix,ScottsdaleandTempe,January20thRunRockNRoll.comCelebratingits10thyearintheValley,thismarathonand1/2marathoneventhasabrand-newcoursefor2013andanewtwistfornon-runners:aBikeTour.Bicycleparticipantscanridethemarathoncourseinanon-timedevent.Kidscanparticipateintheone-milefunrunandtherearetonsofvolunteeringandpeople-watchingopportunitiestomakethiseventoneforeveryone!
ToscaSymphonyHall,January25th–27th602.266.7464|AZOpera.comOpulentsetsevokethepalacesandcathedralsof19thcenturyRomeinthisproductionofPuccini’sbelovedopera,whilesopranoJillGardnerlendsherrichvoiceandinsightfulperformancetotheroleofTosca.BaritoneGordonHawkins,aValleyresidentrenownedworldwide,providespowerhousevocalsasScarpia.SunginItalianwithEnglishsubtitles.
WasteManagementPhoenixOpenTPCScottsdale,January28th–February3rd602.870.0163|WMPhoenixOpen.comGolf,spectators,corporatesponsorships,localcelebrities,schmoozing,flirting,eating,drinking,sunshine,16thhole,charity,Bird’sNest…wait,wedidmentiongolf,right?Asyouknow,thePGA’smostpopularspectatoreventonceagaingracestheValley.Nomatterifyou’retrulyagolfaficionadoorsimplyliketobewheretheactionis,theannualPhoenixOpenisonegreatwaytospendaweekoraweekend.
WarHorseGammage,February5th–10th480.965.3434|ASUGammage.comYousawtheAcademy-Awardnominatedfilm,nowseethisbeautifultaleofcourage,loyaltyandfriendshipliveonstage.Thispowerfullymovingandimaginativedrama,filledwithstirringmusic,isashowofphenomenalinventivenessthatiscurrentlyplayingtopackedhousesinLondon,NewYorkandToronto.Atitsheartareastonishinglife-sizedpuppetsthatbringtolifebreathing,galloping,charginghorsesstrongenoughformentoride.
Corks&CactusDesertBotanicalGarden,February23rd–24th480.481.8188|DBG.orgWhowouldn’twanttospendagorgeousArizonaeveningsippinglibationsinatranquil,scenicsetting?Corks&Cactusblendsboutiquewines,gourmetconcessionsanddesertbeautyintoadelightfulevent.Enjoysamplingfrom40differentwineseachday,listeningtolivelocalentertainmentandfooditemsavailableforpurchasefromFabulousFoodFineCateringandEvents.
JANUARY|FEBRUARY2013
Pork Tenderloin with Sweet Potato Mash, Prickly Pear Braised Red Cabbage and Port Wine Sauce
FeaturingLON’satTheHermosa602.955.7878|HermosaInn.com/lons
In Good Taste Event Calendar
ToPlateOnalargedinnerplatespreadsweetpotatomashinacircle.Nextplacecabbagerightinthemiddleofthemash.Sliceporkandplaceitaroundthecabbage.Addgreenbeansrightoverthetop.Saucelightlyandenjoy.
Serves: four
Makingahomeunique,special,andpersonallyintuitivearechallengeseveryhomeownerencounterswhetherthehomeis1,500squarefeetor15,000squarefeet.Often,ahomeneedsjustatouchofglamour,orspecialvisualinterests,totakeitfrom“nice”to“knock-out!” Nomatterthesizeofthehomeorspace,therewillalwaysbecommonissuestocontendwith.Forexample,howtobringinteresttothatspace?Whatwillmakeahomeorspacestandapartfromanotherone?Howshouldlargespacesbefashionedtofeelmoreintimate?Howcansmallerspacesfeellarger? Designingahomeorspaceproperlycanalsobequiteaninvestment.Ifandwhenahomeownerdecidestoselltheproperty,thehomeshouldstandalonefromtheotherchoicesonthemarket.Creatingfascinatingandcompellingdetailsisoptimum,inthatthoseremarkableelementsandappealingdesignchoiceshopefullywillremaininthememoriesofthosewhoareviewingyourhome. Inmanyinstances,atouchofdramaisagreatwaytocreateinterestingspaces.Thetrickthough,istounderstandexactlywhatthatmeansandhowtoachieveit.Forlargerspaces,thereisusuallyabitofastrongerchallenge,butproperlydesigningthespacewillcertainlyincludefocusingonatleastoneareaintheroomtoaddthattouchofdrama.Fireplaces,interestingart,importantpiecesoffurniture,beautifulviewsandconversationareaswillhelpdeterminethosefocalpoints. Theoppositewillbetruewhendesigningsmallerspaces.Inthiscasethechallengeisusuallytomakethespacefeellarger.Thebestwaytoachievethismaybetosimplify.Forasmallerspace,thismaybeachievedbydeterminingafocalpointintheroomandaddressingitwithsomethingthatwilldemandattentionwhensomeoneentersthespace. Whenincorporatingsomedrama,youmighttakeacuefromcurrentdesigntrends.Forcolor,the“newneutral”isdefinitelygray-notanicygray,butmoreofawarmgray.Thatgrayisbeingpairedwithallsortsofotherfashionablehuessuchasyellow,applegreen,andpurple.
Organicshapesversusgeometricorlinearlinesareon-trendnowandcanbeseeninfurnishings,fabricsandevenwalldécor.Wallpanelsinallsortsofmaterials,shapesandpatternsareawaytomakeabigimpact.CheckoutInterlockingRockpanelsbyModularArts.comforinspiration. AstatementheadboardintheMasterBedroomisanothersurewaytocreatedrama.Theseheadboardscanbeupholsteredinallsortsofgorgeousfabrics,craftedfromwoodorevenmadeoutofleather-upholsteredlargemosaicpieces. Often,theuseofinterestingtextureisallthat’snecessary.Asimplewallorothermundanearchitecturalelementcanbeabsolutelytransformedwiththeapplicationofmaterialssuchasstone,metal,tiles,crystals...theoptionsareaslimitlessasyourimagination! Now,getyourimaginationworkingonoverdriveandplantoputalittlepanacheinyourhome’sdesignaswell!
Debra May Himes, Principal of Debra May Himes Interior Design & Associates, LLC can be reached at 480.497.2699 and DMHDesign.com.
By Debra May Himes, ASID, LEED AP
PORK2wholeporktenderloins,trimmed,reservetrimmingssaltandblackpepper
ProcedureBrowntheporktenderloininahotpanandplaceina350degreeovenfor12minutes.Allowtorestoutsidetheovenforfiveminutesbeforeslicing.
SWEETPOTATOMASH2largesweetpotatoes,cutintosmallpieces11/8tsp.cinnamon1/4lb.butterpinchofsalt
ProcedureBoilandmashpotatoes.Mixinthecinnamonandbutter.
BABYGREENBEANS1/4lb.babygreenbeans,cleaned1Tbs.buttersaltandblackpepper
ProcedureInalargepotofrapidlyboilingsaltedwater,cookgreenbeansuntiltender.Strainandtosswithbutter,saltandpepper.
PRICKLYPEARBRAISEDREDCABBAGE1/2headchoppedredcabbage1/2cuppricklypearpuree1/2cupbalsamicvinegar1/2largeyellowonion,chopped1/4lb.apple-smokedbacon,choppedsmall2Tbs.canolaoil
ProcedureInalargepotwithacover,brownthebaconinthecanolaoil.Addonionsandcookuntiltranslucentonlowheat.Addcabbage,pricklypearpureeandbalsamicvinegar.Coverandcookonlowheatuntiltender.Thiswilltakeabout1to11/2hours.
PORTWINESAUCEreservedporkscraps4Tbs.choppedshallots2sprigsthyme1cuprubyredportwine2cupsvealstock
ProcedureInasmallsaucepot,brownporkscrapsonhighheat.Addtheshallotsandsautéuntiltranslucent.Addportandreduceitovermediumheatbyhalf.Addvealstockandheattoasimmer.Reducesauceuntilitlightlycoatsthebackofaspoon.
Aswelookbackupon2012andforwardto2013,weseethatthePhoenixhousingmarketiswellunderwaywithahealthy,managedrecovery.Infact,Phoenixcontinuestoleadthenationinitsrecoveryandweexpect2013toshowanevenbrighteroutlookthan2012. Westillhavealong-termsupplyshortageforresidentialhomes,althoughithaseasedconsiderablyatthebottomendofthemarketcomparedwiththespringoflastyear.Duetotheusualdipinhigher-endhomessalesvolumes,pricingtendstobealittleweakerduringthesummer.ThiswasstilltrueinSeptemberwhenpriceswereonlyslightlyhigherthaninAugust,JulyorJune.Howeverthecompari-sonwiththesummerof2011isstark.Averagepricepersq.ft.wasupover23%sinceSeptember2011andnowthatwearemovingintothecoolermonths,pricesareresumingtheiradvancewithgreaterspeed. Manycitieshaveseenverylargeincreasesinaveragepricingoverlastyear.Thishasencouragedmoresellerstoenterthemarketandweareseeingasignificantincreaseinsupplyinmostareas.InvestorpurchasesaredownfromthepeakinJulyandAugustandwillprobablydeclinefurther.Investors(asopposedtospeculators)tendtoreacttorisingpricesbyreducingtheirappetiteforadditionalhomes. Mosthomesbelow$250,000thatarepricedrealisticallyarestillattractingalargenumberofofferswithinashorttime,andofferswilloftenexceedtheaskingprice.Itisstillmuchquieterintheluxurymarketandactiveadultsectorbutpricesarefirminghereasweentertheseasonwhen
snowbirdsreturntotheValley. Withthecurrentstabilityinpricing,appraisalshavehadachancetocatchup,sorecentlyappraisalshavetendedtocomeclosertocurrentmarketvalue.Withrenewedpriceescalation,weexpectlowappraisalissueswillreemergeduringthefirstquarter. Thesituationfortheaveragehomebuyerremainsfairlydifficultdespiteextremelylowinterestratesandstill-cheappricesbyanyhistoricalstandard.Thisisbecausethenumberofhomesforsaleisstillwellbelownormalandwell-fundedinvestorsarestillhereinsufficientnumberstomakeveryseriouscompetitionwithmultipleall-cashofferswithfewstringsattached.Manyordinarybuyerscontinuetocomeawayemptyhandedaftersubmitting10ormoreoffers.
Investorsarefocusedprimarilyonthelowerpriceranges,wheretherentalreturnoninvestmentishighest.Sopriceshavecontinuedtomovehigherforhomesbelow$250,000.Aftermovingbackwardsforawhilein2012,theupper-endofthemarketisstartingtoshowrenewedsignsoflife. Nowthatcoolerweatherhasreturnedweanticipatestrongerpricingtobereportedalbeitonweakersalesvolumes.Inanormalmarket,risingpricestendtoreducedemandandsoinhibitsalesvolume.Wesawtheoppositebehaviorin2004and2005whenstrongpricegainsdrewinanincreasednumberofbuyersinafrenzyofspeculation.Today’smarketisrelativelywell-behaved.Investorsareriskingtheirownmoneyratherthanborrowedfunds,soriskisbeingmorecarefullymanaged. Webelievethat2013willcontinuetobeayearinwhichhomepricesriseanddemandremainsstrong.
Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business, and Principal of The Cromford Report.
PFChang’sRock‘nRollMarathonSeriesPhoenix,ScottsdaleandTempe,January20thRunRockNRoll.comCelebratingits10thyearintheValley,thismarathonand1/2marathoneventhasabrand-newcoursefor2013andanewtwistfornon-runners:aBikeTour.Bicycleparticipantscanridethemarathoncourseinanon-timedevent.Kidscanparticipateintheone-milefunrunandtherearetonsofvolunteeringandpeople-watchingopportunitiestomakethiseventoneforeveryone!
ToscaSymphonyHall,January25th–27th602.266.7464|AZOpera.comOpulentsetsevokethepalacesandcathedralsof19thcenturyRomeinthisproductionofPuccini’sbelovedopera,whilesopranoJillGardnerlendsherrichvoiceandinsightfulperformancetotheroleofTosca.BaritoneGordonHawkins,aValleyresidentrenownedworldwide,providespowerhousevocalsasScarpia.SunginItalianwithEnglishsubtitles.
WasteManagementPhoenixOpenTPCScottsdale,January28th–February3rd602.870.0163|WMPhoenixOpen.comGolf,spectators,corporatesponsorships,localcelebrities,schmoozing,flirting,eating,drinking,sunshine,16thhole,charity,Bird’sNest…wait,wedidmentiongolf,right?Asyouknow,thePGA’smostpopularspectatoreventonceagaingracestheValley.Nomatterifyou’retrulyagolfaficionadoorsimplyliketobewheretheactionis,theannualPhoenixOpenisonegreatwaytospendaweekoraweekend.
WarHorseGammage,February5th–10th480.965.3434|ASUGammage.comYousawtheAcademy-Awardnominatedfilm,nowseethisbeautifultaleofcourage,loyaltyandfriendshipliveonstage.Thispowerfullymovingandimaginativedrama,filledwithstirringmusic,isashowofphenomenalinventivenessthatiscurrentlyplayingtopackedhousesinLondon,NewYorkandToronto.Atitsheartareastonishinglife-sizedpuppetsthatbringtolifebreathing,galloping,charginghorsesstrongenoughformentoride.
Corks&CactusDesertBotanicalGarden,February23rd–24th480.481.8188|DBG.orgWhowouldn’twanttospendagorgeousArizonaeveningsippinglibationsinatranquil,scenicsetting?Corks&Cactusblendsboutiquewines,gourmetconcessionsanddesertbeautyintoadelightfulevent.Enjoysamplingfrom40differentwineseachday,listeningtolivelocalentertainmentandfooditemsavailableforpurchasefromFabulousFoodFineCateringandEvents.
JANUARY|FEBRUARY2013
Pork Tenderloin with Sweet Potato Mash, Prickly Pear Braised Red Cabbage and Port Wine Sauce
FeaturingLON’satTheHermosa602.955.7878|HermosaInn.com/lons
In Good Taste Event Calendar
ToPlateOnalargedinnerplatespreadsweetpotatomashinacircle.Nextplacecabbagerightinthemiddleofthemash.Sliceporkandplaceitaroundthecabbage.Addgreenbeansrightoverthetop.Saucelightlyandenjoy.
Serves: four
Valley Real EstateWhat Does 2013 Have in Store?
Signature Cuisine from a Venerable Valley FavoriteLON’s at The Hermosa’s Pork Tenderloin
TramontoReal Estate Report
Ideas to Freshen Up Your Interior Design
Tramonto
If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net
Address Sq. Ft. / Bed / Bath Year Built List Price List Price per Sq. Ft. RECENTLY LISTED FOR SALE: 34844 N 30TH AVE 1,187 / 2 / 2 2003 $140,000 $117.943411 W ZUNI BRAVE TRL 1,941 / 3 / 2 2004 $255,000 $131.38 3421 W FLORIMOND RD 1,958 / 3 / 2.5 2005 $276,000 $140.96 3046 W EAGLE CLAW DR 2,882 / 4 / 3.5 2002 $296,702 $102.95 3017 W TRAPANOTTO RD 3,936 / 5 / 3.5 2002 $314,900 $80.01 2414 W FLORENTINE RD 3,161 / 4 / 2 2004 $324,900 $102.78 2741 W DARIEN WAY 3,113 / 5 / 2.5 2002 $374,990 $120.46 2611 W LANGUID LN 3,207 / 4 / 3 2004 $399,700 $124.63
Address Sq. Ft. / Bed / Bath Year Built Sold Price COE Sold Price per Sq. Ft. RECENTLY SOLD: 3034 W VILLA CASSANDRA DR 2,024 / 3 / 2.5 2003 $180,000 12/12/2012 $88.933456 W FLORIMOND RD 1,958 / 3 / 2.5 2005 $210,000 12/7/2012 $107.253029 W RAPALO RD 1,850 / 3 / 2 2003 $234,500 12/7/2012 $126.763207 W DONATELLO DR 3,155 / 4 / 3 2004 $299,900 12/7/2012 $95.063220 W CARAVAGGIO LN 2,669 / 5 / 3 2003 $269,900 12/5/2012 $101.123334 W GRAN PARADISO DR 2,450 / 4 / 2.5 2012 $285,000 11/30/2012 $116.3335310 N 31ST DR 2,192 / 3 / 2 2003 $204,300 11/28/2012 $93.202622 W SAT NAM WAY 1,431 / 3 / 1.75 2002 $146,000 11/22/2012 $102.0335025 N 30TH DR 1,534 / 3 / 2.5 2005 $161,500 11/22/2012 $105.282322 W VIA PERUGIA 4,380 / 4 / 3.5 2005 $340,000 11/19/2012 $77.6334713 N 21ST LN 1,760 / 3 / 2 2007 $210,300 11/14/2012 $119.492634 W TRAPANOTTO RD 3,402 / 4 / 2.5 2003 $370,000 11/6/2012 $108.762633 W PERDIDO WAY 2,126 / 3 / 2 2002 $252,000 11/5/2012 $118.5335330 N 27TH LN 2,851 / 4 / 3.5 2002 $295,500 10/31/2012 $103.652626 W FLORIMOND RD 4,178 / 4 / 4 2004 $365,000 10/31/2012 $87.362510 W FLORENTINE RD 1,361 / 3 / 2 2002 $161,300 10/30/2012 $118.522512 W OLD PAINT TRL 2,483 / 4 / 3.5 2003 $220,000 10/30/2012 $88.603401 W MONTELLO RD 2,126 / 3 / 2 2003 $230,000 10/30/2012 $108.183226 W FLORIMOND RD 1,300 / 3 / 2 2012 $191,598 10/29/2012 $147.383237 W LEISURE LN 2,230 / 4 / 2 2004 $250,000 10/29/2012 $112.112605 W LUCE DR 2,014 / 4 / 2 2003 $234,000 10/25/2012 $116.192327 W VILLA CASSANDRA DR 5,539 / 4 / 3.5 2005 $483,000 10/25/2012 $87.203247 W GRAN PARADISO DR 1,300 / 3 / 2 2012 $176,401 10/22/2012 $135.6
All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.
REAL ESTATE ACTIVITY INTramonto
Happy New Year, neighbors! As we start the year 2013, let’s take a quick review of 2012. A shortage of homes for sale, record low interest rates and affordable purchase prices caused bidding wars in 2012. ARIZONA RANKED #1 in the nation for gains in home prices. Home prices in Phoenix area rebounded at the highest rate of any metro area in the country during the past year. Across the nation, prices increased in 18 of 20 cities over the 12-month period. In Phoenix, prices jumped 20.4% over that stretch to lead all cities, Standard & Poor’s/Case-Shiller reported. FORECLOSURE DISCOUNTS HAVE VANISHED IN PHOENIX. “The smallest foreclosure discount is found in places where competition for homes is so high, people there are willing to pay the same amount for a foreclosure re-sale that they would for a non-distressed home simply to take advantage of historic affordability,” says Stan Humphries, Zillow’s chief economist. The smallest foreclosure discounts can be found in: Las Vegas (0%); PHOENIX (0%); and Sacramento (0.7%). LESS PHOENIX-AREA HOMES HAVE UNDERWATER MORTGAGES. Slightly less than half of homeowners throughout metro Phoenix are now underwater on their mortgages, according to a report by Zillow in November. About 45% of Valley homeowners were underwater during the third quarter – a 13% drop from the two previous quarters when slightly more than half were underwater. Check with your mortgage company to see if you qualify to have your PMI (Private Mortgage Insurance) removed from your monthly payment. One of my clients saved over $200/month! Call Patrick to see if you can refinance at a lower interest rate and reduce your monthly payment.
www.TramontoNews.com
Kelli GrantYour Tramonto Real Estate Specialist
Call or Text: (602) [email protected]
www.PhoenixHomeResource.comPLATINUM PREMIER REALTY
January | February 2013
Kelli Grant is proud to be a Preferred Realtor helping W.L. Gore employees buy homes and relocate to the area
from all over the country every month.
Real Estate Status as of December 16th: 30 ACTIVE LISTINGS / 24 PENDING SALES in Tramonto. Year-to-Date, 171 properties sold in 2012 through MLS. 27 properties closed sale between Oct 16th and Dec 16th at an average of $105.39/sq ft compared to the overall annual average of $92.66. If you are thinking of selling, contact me for a complimentary
Value Analysis. As your neighborhood real estate expert, we can discuss your options and a proactive strategy to sell your property for the highest amount possible.
Patrick ObluckTeamwork . Empowerment . Positivity . Excellence
Patrick ObluckMortgage Banker | MLO #197206
Cell 480.231.2354 www.LoanManAZ.com
34406 N 27th Dr., Suite 140 Phoenix, Arizona 85085NMLS - 322405 | AZ BKBR-0116448
Licensed by the Department of Corporations under the California Residential Mortgage Lending Act
Pinnacle Capitalmortgage corporation
HAPPY NEW YEAR!One of my resolutions for 2013 is my commitment to create awareness of local charities. I started working with a group
called North Valley Community Outreach. Our goal is to host events that will benefit local groups here in our little part of the
desert. Our first event was a wine tasting with the proceeds helping the Foothills Food Bank. Our next event is coming up
in a few weeks and proceeds will benefit a local horse rescue. Visit Facebook.com/AZNVCO and like the page for more
information on this and other events.
Like our page and list your favorite local charity for a chance to win a $50 gift certificate to Vino 100.