Orange Tree Insider

ORAN

&

Kelly McLain Realtor

602.625.4653

mclainjk@aol.com www.kellymclain.com

Mid - Year Review We are half way through 2017 and the market around Orange Tree continues to sizzle. The inventory remains down, and sales remain robust as we compare the first 6 months of this year to the first 6 months of 2016. From January 2016 through June 2016 the Orange Tree area had 58 sales with total sales volume of $45,348,000 and an average of 104 days on market the first six months of 2016.

Current Mortgage Rates

The first six months of 2017 we had the exact number of sales (58) as 2016. So far, the average days on market has been 97 for 2017. List price vs. sales price ratio was 96.8% which is pretty close to industry standards. We have seen a nice appreciation over the past year as prices have risen 8.6% from June 2016 to June 2017.

The cost of borrowing money is going up… again. The Federal Reserve decided to raise its benchmark rate by a quarter of a point this month.

Equestrian Manor Appreciation year over year 7.7% increase Orange Tree Golf Course Homes year over year 4.7% increase Orange Tree Estates & Orange Tree Manor 4.0% increase Woodleaf Subdivision Year over year increase 18.2% Avant, Sunburst Farms & Century Place Increase 5.1% Blended remaining subdivisions Increase 5.2%

So what does this mean for you? Your credit card rate is going to be a full percentage point higher this summer than it was two summers ago, before the Fed started to raise rates. The same thing happened with home equity lines of credit; your rate will be a full percentage point higher this year than it was two years ago.

Mike Tompkins Sales Manager Mortgage Loan Originator

It's now more important than ever to make more than the minimum monthly payment and get those credit card balances paid off. Some good news: the Fed’s action should not affect mortgage rates for people looking to buy a home. In fact, the average 30year fixed-mortgage rate loan is still under 4% right now.

602.329.6591 Direct tompkins@ksstatebank.com| www.ksstatebank.com

Account Manager

602-697-0232

ccreel@atsaaz.com

We look forward to handling your next Escrow!

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The Island Opens Its Doors

As always, list with me and mention this newsletter and I will have an appraiser of your choice appraise your home and you will be reimbursed at closing! ADDRESS

SQFT

BED BATH LIST PRICE

LIST PER SQFT

11446 N Century Ln 11419 N 56Th St 11465 N 56th St 5523 E Sweetwater Ave 5821 E Charter Oak Rd 5901 E Aster Dr 5511 E Wethersfield 12424 N 60th St 12216 N 64th St 5841 E Corrine Dr 5344 E Shaw Butte Dr 12034 N 61st St 6346 E Gold Dust Ave 5429 E Beryl Ave 11222 N 54th Pl 5302 E Sahuaro Dr 11409 N Saint Andrews Way 10805 N 55th ST 6226 E Sunny Side Dr 11401 N Blackhealth Rd 6104 E Laurel Ln 6134 E Shea Blvd 6136 E Paradise Dr 6323 E Cochise Rd 6049 E Sunnyside Dr 6064 E Jenan Dr 6211 E Cortez Dr 6004 E Laurel Ln 10242 N 58th St 12028 N 60th Pl 6002 E Onyx Ave

1,688 1,719 2,006 2,002 2,350 3,344 2,809 3,050 2,345 2,807 3,470 4,098 3,223 2,824 3,020 3,948 3,469 3,097 4,599 6,178 5,467 4,624 6,975 6,680 6,259 6,008 6,360 5,886 6,449 5,814 6,439

2 2 2 3 4 4 4 4 4 4 4 4 5 4 4 4 3 4 3 5 5 4 5 5 7 5 5 4 5 4 6

$203.79 $212.27 $211.86 $232.22 $212.77 $152.48 $186.90 $190.13 $245.12 $224.08 $184.41 $163.47 $216.88 $254.60 $248.01 $215.27 $269.53 $347.11 $265.28 $258.82 $310.04 $367.67 $265.23 $282.93 $307.56 $324.40 $314.31 $414.88 $379.28 $429.14 $403.01

2 2 2.5 2 3 2.5 2.75 3 2 2.5 2.5 3 3 2.5 2.75 3 3 3 3.5 7.5 3.5 3.5 4.5 6.5 5.75 5.4 6 4.5 5.5 4.5 7

$344,000 $364,900 $425,000 $464,900 $500,000 $509,900 $525,00 $579,900 $574,800 $629,000 $639,900 $669,900 $699,000 $719,000 $749,000 $849,900 $935,000 $1,075,000 $1,220,000 $1,599,000 $1,695,000 $1,700,000 $1,850,000 $1,890,000 $1,925,000 $1,949,000 $1,999,000 $2,442,000 $2,446,000 $2,495,000 $2,595,000

NEIGHBORHOOD Century Place Century Place Century Place Rancho Saguaro Avant Avant Rancho Saguaro Avant Shea North Estates Avant Woodleaf Equestrian Manor Sunburst Farms Promontory Lot Los Castillos La Camarilla Century Club Estates Orange Tree Estates Equestrian Manor Century Club Estates Equestrian Manor Sunburst Farms Equestrian Manor Sunburst Farms Equestrian Manor Equestrian Manor Equestrian Manor Equestrian Manor Country Club Acres Equestrian Manor Tierra Feliz North .

Call Phil for the most effective marketing strategies to sell your Biltmore property All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various members of the MLS. All information is deemed reliable but not guaranteed. Properties on this list have been listed/sold by various members of the MLS.

Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com

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Cuba Calling

— Kelly McLain

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WANT YOUR PROPERTY TO BE OUR NEXT COVER HOME?

If your home is currently listed, this is not a solicitation for that listing.

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Traditionally it does start to slow down from July 15 through September 15 every year, however this year could be different, as inventory is low and demand remains high, so give me a call and let’s discuss your options when selling or buying your next home!

Currently For Sale in Orange Tree Area

Candis Creel

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Woodleaf has seen a tremendous increase in popularity and appreciation; over the past year we’ve seen 18% rise in home prices. Congratulations to Woodleaf as it was the highest appreciating subdivision over the past year in the Orange Tree area.

7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395

Steve Sherman | 480-570-1117

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For 2017 the past 5 homes that I have SOLD in the Orange Tree area averaged 10 days on the market, and had a list price to sales price ratio of 99.7%. Current amount of homes on the market in our area is 31 homes, compared to 40 homes this time last year.

NMLS # 217645

Orange Tree Pool Service & Repairs

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J UJ LUYL Y| |A U U SUTS T2 021071 7 AG UG MARCH | APRIL 2017

The #1 Agent

FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!

Moving On Up

Phoenix Real Estate Market Update

Salty Sow

Brussels Sprout Caesar Salad

JULY | AUGUST 2017

Night Lights Tour at Taliesin Taliesin West | Now through August 25 FrankLloydWright.org | 480.627.5375 The romance and history of Taliesin West comes to life during this magical evening tour. Taliesin West’s renowned fire-breathing dragon makes a guest appearance while Wright’s desert masterpiece glows warmly beneath the Arizona moon. Come celebrate the architect’s 150th birthday this summer.

The Little Mermaid Hale Centre Theater | July 8 - August 19 HaleTheatreArizona.com | 480.497.1181 Disney’s timeless darling comes to Arizona! Enjoy the classics like Under the Sea, Part of Your World, Kiss the Girl and more. Ariel defies her father and leaves to be part of the glorious world above the sea. She finds her prince and exciting new friends but at a price. Swim with Sebastian as he sings and dances on Hale Centre Theatre’s magical centre stage.

Fiddler on a Hot Tin Roof Herberger Theater | July 31 - August 10 HerbergerTheater.org | 602.252.8497 So, what’s to happen when roles are reversed, intentions slanted, and theatrical expectations challenged? You have yourself a twisted, tilted, and terrific time! Featuring an often offbeat and off-kilter cast of characters, join TML Arts as they explore that which is theatrically askew and unusually unbalanced, in Fiddler on a Hot Tin Roof at Lunch Time Theater.

Starlight Train Ride Verde Canyon Railroad| August 5 VerdeCanyonRR.com | 800.293.7245 It’s not just the stars that come out to play in Verde Canyon. On a summer evening, the Verde Canyon Railroad departs the depot and rumbles through the Canyon, the low slant of sun bathing the high cliffs in soft golden hues. The train reaches the turn-around point of Perkinsville and the return trip offers a serene glimpse into the nocturnal wildlife set against a dazzling canvas of celestial bodies.

Science With a Twist Arizona Science Center | 3rd Fridays Through Nov. AZScience.org | 602.716.2000 Put a twist on your Friday night and join Arizona Science Center for the newest adults only event. Science with a Twist is designed specifically for ages 21 and older with activities geared towards grownup fun and education. Each month is themed and includes a cash bar, music, live science demonstrations, hands-on activities, discounted tickets into the featured exhibition and more!

Real Estate Market Update

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ooking at the overall U.S. housing market so far in 2017, experts believe that these factors are keeping the market strong:

1. Moderately rising mortgage rates 2. Low risk of a housing crash for most cities 3. Millennial buyers coming into their main home buying years 4. A trend towards government deregulation 5. Labor shortages pushing up costs of production and incomes 6. The economy continuing to grow – extending the longest positive business cycle in history In addition, experts think that housing shortages across the country will keep home prices high. Plus, the potential of higher interest rates could encourage real estate purchasers to move forward before mortgages get more expensive. Phoenix is projected as the number one housing market for 2017 by Realtor.com, a national real estate website. They are predicting Phoenix home prices to climb 5.9 percent, and sales to jump by 7.2 percent in 2017. That’s not the biggest projected price increase on its list of top 10 markets in 2017, but it’s the biggest sales increase. This makes sense since one of the Valley’s top selling points for buyers is more affordable home prices, particularly in the West region. Phoenix has some other advantages in 2017 when compared to other markets. At the top of that list is that most other big U.S. real estate markets recovered faster than Phoenix, which was hit hard by the last recession and crash. As such, the Valley of the Sun has more room for improvement in prices than the likes of Denver and coastal markets that have already seen increases. Statistics so far appear to be backing up the Realtor.com predictions. According to the Arizona Multiple Listing Service (ARMLS), in first quarter 2017 the median sales price for homes listed in Maricopa County rose 6.096 percent from the same time in 2016. In addition, the number of home sales closed rose 12.4 percent from the same quarter last year. Another positive sign in the Maricopa County housing market is the lower number of days on market. It dropped to 54 days, compared to the national average of 105 days (per real estate website Zillow.com). Additionally, R.L. Brown reports that April single family building permits in the greater Phoenix area are up 8.8 percent from a year ago – a 9.0 percent gain over the same period in 2016. Overall, Phoenix has gone from being one of the worst housing markets to one of the best in less than a decade.

REAL ESTATE

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colorful Cuba E

ver dreamed of traveling to Cuba? With its pristine white beaches, colorful and iconic yet aging architecture, and streets lined with classic 1950s American cars, Cuba is a travel destination for history buffs and artists alike. And now, for the first time in more than 50 years, traveling to this isolated island country in the Caribbean is possible once again. For years, American politicians have shunned the Communist country and its former leader, Fidel Castro, but recently policy changes have loosened travel restrictions. The result? A rare and perhaps fleeting opportunity for Americans to visit a culture long ago cut off from much of the world.

and is often described as an island lost in time because so little has changed since the 1950s when Cuba was essentially cut off from the outside world. Once you arrive on this beautiful and captivating island you will see traveling to Cuba is unlike most other travel destinations. For example, for the most part, access to the Internet is very limited except in the larger cities where travelers will need to seek out Internet cafes and high-end hotels for Wi-Fi. American credit and debit cards are typically not accepted in Cuba, making cash a must. However, you will need to exchange your U.S. dollars for Cuban Convertible Pesos (CUC), the only currency used on the island. Though you’re so close to Florida cell phones may not work, but if your carrier does offer phone service, be aware of high roaming charges. There are several good tour companies that can help plan your trip, whether you’re going for the art, cuisine, music or history. Ernest Hemingway’s home is a must for literary buffs and the Plaza Vieja is sure to delight with its colorful architecture. Though travel to Cuba does pose some challenges, its historic cities, museums, galleries, and beautiful beaches – not to mention the people – will surely make your efforts worthwhile.

Several airlines fly to the island, including American Airlines, JetBlue, Delta, and Southwest. Some travel restrictions for U.S. citizens still do exist. You cannot technically visit as a tourist, but will need to select from 12 categories authorized by the U.S. government. For example, you can select “educational activities,” or “religious activities,” or “family visit” for your reason for travel. You will need to maintain and provide an itinerary of your trip supporting your reason for visit. U.S. visitors will also need a passport, a visa, and health insurance valid in Cuba, which is included in the cost of your airfare. Though only 200 miles from Miami, Cuba seems worlds away

IN GOOD TASTE

EVENTFUL

Brussels Sprout Caesar Salad INGREDIENTS 1 c Romaine, cut into 2” pieces ½ c Sliced brusselsprouts, blanched 2 tbsp Dried cranberries 2 tbsp Candied almonds ¼ c Freshly grated parmesan cheese 3 oz Caesar dressing

DIRECTIONS Mix everything well, season salad with fresh cracked pepper and more cheese if desired.

Salty Sow 602.795.9463 | SaltySow.com

JULY | AUGUST 2016