EVENT CALENDAR T H I N K
MARCH | APRIL 2018
FOR WHAT
NASCAR Monster Energy Cup Series 500 ISM Raceway - Avondale | March 9-11 ISMraceway.com Don’t miss your opportunity to experience NASCAR Goes West with Champions Kevin Harvick and Kyle Busch taking on young guns like Kyle Larson and Chase Elliott on the track. Take off Friday and start your party at the track a day early! Come on out and get your need for speed!
Innings Festival Tempe Beach Park |March 23-25 InningsFestival.com Innings Festival is a three-day event that will feature rock, pop and country performances from 36 artists on three stages, culinary demos, as well as curated food vendors. Innings Festival is the can’t-miss celebration for music lovers and passionate baseball fans including enthusiasts traveling to watch their favorite teams in Arizona Spring Training.
Phoenix Film Festival Harkins Scottsdale/101 Theatre | April 5th-15th PhoenixFilmFestival.com The Phoenix Film Festival will screen more than 175 feature films and shorts. Attendees will be a part of screenings; Q&A sessions with producers, director and talent; enjoy world-class entertainment; an impressive silent auction and more. All parties and workshops are held right on site so you don’t miss a thing.
Scottsdale Culinary Festival Scottsdale Civic Center Mall |April 14th & 15th ScottsdaleFest.org Highlights of the Scottsdale Culinary Festival include 40 local restaurants, 30 craft breweries, 20 bands, a teen cooking challenge, chef demos, family zone, wine garden and much more. The Scottsdale Culinary Festival is the opportunity to taste as many foods from as many restaurants as your stomach will allow. Registration required. Ages 8+.
MATTERS
MOST I RESIDENTIAL REAL ESTATE T
he residential resale market in Greater Phoenix continued to strengthen in 2017 and prices are poised to continue improving faster than the rate of inflation into 2018, particularly in the lower price ranges. For the overall market across Greater Phoenix, price trends capping off 2017 are as follows according to Arizona Regional MLS sales: • The annual average price per square foot rose 6.4% from $141.29 to $150.37 • The annual average sales price increased 7.2% from $277,476 to $297,317 • The annual median sales price gained 6.6% from $225,000 to $239,900 Sales volume increased 6.4% from an annual rate of 87,920 to 93,511. This makes 2017 the highest year since 2011 and the fourth highest year overall for sales volume. Total dollar volume increased 14% from $24.4 billion to $27.8 billion, placing 2017 in second place overall for total money spent on residential resale transactions. The market continues to favor sellers, especially under $275,000. Over 51% of newly constructed condominiums, townhomes and single family residences sold were between $275,000 and $500,000 as of November 2017. The lack of new construction in the lower price ranges has created an opportunity for flip investors looking to capitalize on demand from first-time homebuyers for move-in ready homes. Supply remains extremely short for homes under $200,000, which constitutes nearly 34% of all sales in Greater Phoenix. This large market share throws some influence on overall measures for the Valley, especially when it comes to appreciation. While the overall appreciation rate for Greater Phoenix is 6.4%, it’s not uncommon to see appreciation rates soar over 8% on properties under $200,000 and drop to 3-4% annually for the nearly 51% that sell between $200,000 and $400,000. Prospects for more supply on the low end are slim these days. Buyers between $400,000 and $1.5M will find a more balanced market with extra wiggle room for price negotiations. Higher inventory in the market over $1.5M is causing prices to decline despite a 17% increase in sales volume, good news for luxury buyers in this price point. Arizona and the U.S. economy enjoyed one of the best years in recent memory. For most of 2017, every week seemed to be yet another good week for the economy. Overall the market remains healthy and 2018 will be a better year for the economy and residential real estate overall.
REAL ESTATE
corner
f you’re like most people, you’ve considered signing up for one of those monthly subscription boxes available online. Or maybe you’ve already started a subscription … or two or three. Whether it’s makeup, clothes, meal-kits, or doggy toys, what’s not to like about handpicked treats landing on your doorstep every few weeks? It’s like Christmas every month of the year. If you’re new to the subscription scene, here are a few places to get started. Into clothes? Here are a few options: StitchFix, now for men as well as women, offers clothing delivered to your door every month. A personal stylist picks duds for you based on a style profile; the box arrives at your door, you keep what you like, send the rest back. Even better, Nordstrom now offers Trunk Club, which is similar to StitchFix, but sends you a preview of everything that will arrive in your trunk allowing you to swap out items before they ship. Brilliant! If beauty products are more your thing, check out Birchbox, a monthly subscription box that delivers five personalized sample-size cosmetic items to your door for only $10. It’s a good way to try out pricey products that in the end may not work for you. Sephora offers a similar monthly subscription box called Play! You take a
IN GOOD TASTE
Pheonix | Feb 23 - March 23 CactusLeague.com Cactus League Spring Training, a seasonal rite in Greater Phoenix, roars to life every March with the iconic sounds of cracking bats, snapping mitts and happy fans. For baseball lovers, it doesn’t get much better than this: sunny weather, affordable tickets and unparalleled proximity to the best players in the game.
THE BOX
MAKE ROOM
Cactus League Spring Training
I N S I D E
survey, and Sephora sends curated sample-sized products to your mailbox once a month plus online instructional how-to-use videos (also $10 a month). Love the idea of perfume but don’t love the high prices and getting stuck with a whole bottle of a scent you can’t stand? Then Scentbird may be for you. This monthly subscription box delivers a new scent to your door every month for $14.95. You choose from more than 450 scents, then switch it up every month, allowing you to test drive scents before making a commitment. No doubt, you’ve also been bombarded with flyers for at least a few of the ubiquitous meal-kit subscription boxes. Hello Fresh (which offers vegetarian options and premeasured ingredients), Blue Apron (which provides how-to instructional cooking), and Plated (which allows for special dietary adjustments and flexibility of delivery) are a few to consider. And did you know there are even subscription boxes for your doggy (BarkBox delivers new toys and treats to your fluffy friend every month for $20) and your kids (Kiwi Co. offers a KiwiCrate science or art-focused toy every month) so no one will be left out of this new shopping trend. Heading to the mailbox has never been this much fun!
Sriracha Lime-Glazed Salmon
INGREDIENTS
2 tsp lime zest 1 tbl lime juice 1/4 cup of honey 2 tbl Sriracha 2 small cloves garlic, finely chopped 4 wild salmon fillets (about 4 oz each) 2 tsp sesame or olive oil Salt and pepper to taste Sesame seeds (optional) Sliced green onions (optional)
DIRECTIONS Whisk together grated lime peel, lime juice, honey, sriracha and garlic in small bowl. Reserve half of the mixture. Season salmon with salt and pepper. Brush with a little sriracha mixture. Heat oil in large ovenproof skillet over medium-high heat. Once oil starts to shimmer, add salmon, flesh-side-down. Cook for 1 minute or until golden. Flip over. Brush with sriracha mixture. Bake in skillet at 425° F for 10 minutes, brushing with sriracha mixture halfway through. Fish is done when it flakes easily when tested with a fork. Drizzle with reserved sriracha mixture. Sprinkle with sesame seeds and green onions.
www.GoodNes.com
EVENT CALENDAR T H I N K
MARCH | APRIL 2018
FOR WHAT
NASCAR Monster Energy Cup Series 500 ISM Raceway - Avondale | March 9-11 ISMraceway.com Don’t miss your opportunity to experience NASCAR Goes West with Champions Kevin Harvick and Kyle Busch taking on young guns like Kyle Larson and Chase Elliott on the track. Take off Friday and start your party at the track a day early! Come on out and get your need for speed!
Innings Festival Tempe Beach Park |March 23-25 InningsFestival.com Innings Festival is a three-day event that will feature rock, pop and country performances from 36 artists on three stages, culinary demos, as well as curated food vendors. Innings Festival is the can’t-miss celebration for music lovers and passionate baseball fans including enthusiasts traveling to watch their favorite teams in Arizona Spring Training.
Phoenix Film Festival Harkins Scottsdale/101 Theatre | April 5th-15th PhoenixFilmFestival.com The Phoenix Film Festival will screen more than 175 feature films and shorts. Attendees will be a part of screenings; Q&A sessions with producers, director and talent; enjoy world-class entertainment; an impressive silent auction and more. All parties and workshops are held right on site so you don’t miss a thing.
Scottsdale Culinary Festival Scottsdale Civic Center Mall |April 14th & 15th ScottsdaleFest.org Highlights of the Scottsdale Culinary Festival include 40 local restaurants, 30 craft breweries, 20 bands, a teen cooking challenge, chef demos, family zone, wine garden and much more. The Scottsdale Culinary Festival is the opportunity to taste as many foods from as many restaurants as your stomach will allow. Registration required. Ages 8+.
MATTERS
MOST I RESIDENTIAL REAL ESTATE T
he residential resale market in Greater Phoenix continued to strengthen in 2017 and prices are poised to continue improving faster than the rate of inflation into 2018, particularly in the lower price ranges. For the overall market across Greater Phoenix, price trends capping off 2017 are as follows according to Arizona Regional MLS sales: • The annual average price per square foot rose 6.4% from $141.29 to $150.37 • The annual average sales price increased 7.2% from $277,476 to $297,317 • The annual median sales price gained 6.6% from $225,000 to $239,900 Sales volume increased 6.4% from an annual rate of 87,920 to 93,511. This makes 2017 the highest year since 2011 and the fourth highest year overall for sales volume. Total dollar volume increased 14% from $24.4 billion to $27.8 billion, placing 2017 in second place overall for total money spent on residential resale transactions. The market continues to favor sellers, especially under $275,000. Over 51% of newly constructed condominiums, townhomes and single family residences sold were between $275,000 and $500,000 as of November 2017. The lack of new construction in the lower price ranges has created an opportunity for flip investors looking to capitalize on demand from first-time homebuyers for move-in ready homes. Supply remains extremely short for homes under $200,000, which constitutes nearly 34% of all sales in Greater Phoenix. This large market share throws some influence on overall measures for the Valley, especially when it comes to appreciation. While the overall appreciation rate for Greater Phoenix is 6.4%, it’s not uncommon to see appreciation rates soar over 8% on properties under $200,000 and drop to 3-4% annually for the nearly 51% that sell between $200,000 and $400,000. Prospects for more supply on the low end are slim these days. Buyers between $400,000 and $1.5M will find a more balanced market with extra wiggle room for price negotiations. Higher inventory in the market over $1.5M is causing prices to decline despite a 17% increase in sales volume, good news for luxury buyers in this price point. Arizona and the U.S. economy enjoyed one of the best years in recent memory. For most of 2017, every week seemed to be yet another good week for the economy. Overall the market remains healthy and 2018 will be a better year for the economy and residential real estate overall.
REAL ESTATE
corner
f you’re like most people, you’ve considered signing up for one of those monthly subscription boxes available online. Or maybe you’ve already started a subscription … or two or three. Whether it’s makeup, clothes, meal-kits, or doggy toys, what’s not to like about handpicked treats landing on your doorstep every few weeks? It’s like Christmas every month of the year. If you’re new to the subscription scene, here are a few places to get started. Into clothes? Here are a few options: StitchFix, now for men as well as women, offers clothing delivered to your door every month. A personal stylist picks duds for you based on a style profile; the box arrives at your door, you keep what you like, send the rest back. Even better, Nordstrom now offers Trunk Club, which is similar to StitchFix, but sends you a preview of everything that will arrive in your trunk allowing you to swap out items before they ship. Brilliant! If beauty products are more your thing, check out Birchbox, a monthly subscription box that delivers five personalized sample-size cosmetic items to your door for only $10. It’s a good way to try out pricey products that in the end may not work for you. Sephora offers a similar monthly subscription box called Play! You take a
IN GOOD TASTE
Pheonix | Feb 23 - March 23 CactusLeague.com Cactus League Spring Training, a seasonal rite in Greater Phoenix, roars to life every March with the iconic sounds of cracking bats, snapping mitts and happy fans. For baseball lovers, it doesn’t get much better than this: sunny weather, affordable tickets and unparalleled proximity to the best players in the game.
THE BOX
MAKE ROOM
Cactus League Spring Training
I N S I D E
survey, and Sephora sends curated sample-sized products to your mailbox once a month plus online instructional how-to-use videos (also $10 a month). Love the idea of perfume but don’t love the high prices and getting stuck with a whole bottle of a scent you can’t stand? Then Scentbird may be for you. This monthly subscription box delivers a new scent to your door every month for $14.95. You choose from more than 450 scents, then switch it up every month, allowing you to test drive scents before making a commitment. No doubt, you’ve also been bombarded with flyers for at least a few of the ubiquitous meal-kit subscription boxes. Hello Fresh (which offers vegetarian options and premeasured ingredients), Blue Apron (which provides how-to instructional cooking), and Plated (which allows for special dietary adjustments and flexibility of delivery) are a few to consider. And did you know there are even subscription boxes for your doggy (BarkBox delivers new toys and treats to your fluffy friend every month for $20) and your kids (Kiwi Co. offers a KiwiCrate science or art-focused toy every month) so no one will be left out of this new shopping trend. Heading to the mailbox has never been this much fun!
Sriracha Lime-Glazed Salmon
INGREDIENTS
2 tsp lime zest 1 tbl lime juice 1/4 cup of honey 2 tbl Sriracha 2 small cloves garlic, finely chopped 4 wild salmon fillets (about 4 oz each) 2 tsp sesame or olive oil Salt and pepper to taste Sesame seeds (optional) Sliced green onions (optional)
DIRECTIONS Whisk together grated lime peel, lime juice, honey, sriracha and garlic in small bowl. Reserve half of the mixture. Season salmon with salt and pepper. Brush with a little sriracha mixture. Heat oil in large ovenproof skillet over medium-high heat. Once oil starts to shimmer, add salmon, flesh-side-down. Cook for 1 minute or until golden. Flip over. Brush with sriracha mixture. Bake in skillet at 425° F for 10 minutes, brushing with sriracha mixture halfway through. Fish is done when it flakes easily when tested with a fork. Drizzle with reserved sriracha mixture. Sprinkle with sesame seeds and green onions.
www.GoodNes.com
Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
Inventory Starts to Rise for the Orange Tree Area. Current Mortgage Rates 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. 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 Mike Tompkins happened with home equity lines of credit; Sales Manager your rate will be a full percentage point Mortgage Loan higher this year than it was two years ago. 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 30-year fixed-mortgage rate loan is still under 4% right now.
NMLS # 217645 602.329.6591 Direct tompkins@ksstatebank.com| www.ksstatebank.com
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117
Candis Creel Account Manager
602-697-0232
ccreel@atsaaz.com
We look forward to handling your next Escrow!
The first two months of 2018 are showing a slight slow down in sales year over year in the Orange Tree area. We have seen an increase in inventory, and pending sales over one million are down 3.9% compared to this time last year. Currently 38 homes are on the market in our area compared to 29 homes on the market this time last year. Luxury sales tend to slow down as inventory increases creating more competition. Currently the average days on the market in the Orange Tree area is 128 days compared to 97 days one year ago. What can we decipher from all of this? Obviously the increase in inventory always slows the market down, we are also seeing an increase in luxury inventory across the street in Paradise Valley, generation X and Millennial buyers are really starting to impact our market, many say this generation does not want the larger homes home like so many of their mom and dad’s may have had, but I’m finding the opposite is starting to happen in our area. I’m seeing the next generation is indeed buying larger homes, they are very patient buyers and may take up to 6 months to find the right home, which is 4 months longer than average. The recent volatility in the stock market has put a few buyers on the sideline as they are waiting to see how the market shakes out. Interest rates are rising, we anticipate at least two more hikes this year if not three, every-time we see a new hike in rates it has a domino effect on each and every buyer, and how much it changes their monthly payments. On the cover you will see my latest listing priced at $3,599,000, it’s a contemporary by Bing Hu, this beautiful home has 3 Bedrooms/4 baths and 5836 square feet. It’s very easy to show so please call me anytime.
OrangeTree N
S
ADDRESS
SQFT
BED BATH LIST PRICE
LIST PER SQFT
5437 E Sweetwater Ave 5949 E Sweetwater Ave 5821 E Charter Oak Rd 11459 N 56th St 5937 E Larkspur Dr 6345 E Gold Dust Ave 6346 E Gold Dust Ave 5401 E Cortez Dr 5846 E Cochise Rd 6044 E Shea Blvd 6325 E Desert Cove Ave 10242 N 58th St 5740 E Shea Blvd 5443 E Cheryl Dr 6202 E Mescal St 10836 N 53rd St 5212 E Windrose Dr 9802 N 53rd Pl 10601 N Montrose Way 6010 E Cortez Dr 6036 E Via Estrella Ave 11636 N 60th St 10241 N 52nd St 5818 E Leith Ln 10242 N 57th St 6323 E Cochise Rd 6335 E Via Estrella Ave 11846 N 61st Pl 11002 N 64th St 6216 E Via Estrella Ave 6004 E Laurel Ln 6242 E Laurel Ln 11832 N Blackheath Rd 6002 E Onyx Ave 6215 E Turquoise Ave
2,036 2,321 2,350 2,158 3,165 1,492 3,223 2,534 2,800 2,253 4,308 2,239 3,772 3,592 4,478 3,624 4,614 4,400 5,382 3,946 6,381 4,999 6,035 6,990 4,509 6,680 5,805 6,152 5,022 5,210 5,886 6,004 5,752 6,439 9,094
3 4 4 3 4 3 5 4 4 4 5 3 5 4 5 4 4 4 5 4 5 4 4 5 4 5 5 5 5 5 4 6 6 6 7
$245.58 $219.73 $223.40 $247.91 $178.20 $418.90 $215.64 $276.24 $258.89 $343.94 $185.47 $357.26 $217.92 $236.64 $189.82 $255.24 $243.82 $284.09 $241.36 $377.34 $249.96 $319.86 $280.86 $243.06 $376.80 $261.98 $301.46 $296.65 $368.38 $427.06 $386.51 $391.41 $417.07 $403.01 $288.65
Currently For Sale in Orange Tree Area 2 2 3 3 2.25 2 3 3 2.5 5 4 3.5 4 5 4 4.33 4 3.5 4.5 3 6 4 6 4.5 3.5 6.5 5.5 6 4.5 5.5 4.5 5 5 7 10
$499,998 $510,000 $525,000 $535,000 $564,000 $625,000 $695,000 $700,000 $724,900 $774,900 $799,000 $799,900 $822,000 $850,000 $850,000 $925,000 $1,125,000 $1,250,000 $1,299,000 $1,489,000 $1,595,000 $1,599,000 $1,695,000 $1,699,000 $1,699,000 $1,750,000 $1,750,000 $1,825,000 $1,850,000 $2,225,000 $2,275,000 $2,350,000 $2,399,000 $2,595,000 $2,625,000
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
D
E
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NEIGHBORHOOD
Rancho Saguaro Avant One Avant One Century Place Avant One Sunburst Farms Sunburst Farms Vista Hermosa Country Estates 2a Sunburst Farms East Bar Ted Acres Country Club Acres Century Club Estates Singletree Ranch Plymouth Estates La Camarilla Sunburst Farms Golf View Estates Century Club Estates Equestrian Manor Tierra Feliz North Century Club Estates Metes & Bounds Century Club Estates Country Club Acres Sunburst Farms East Sunburst Farms Equestrian Manor Plymouth Estates Sunburst Farms East Equestrian Manor Equestrian Manor Century Club Estates Tierra Feliz North Sunburst Farms.East
I
R
STYLED & CURATED
Thanks again to everyone who reads my newsletter, after an amazing 2017 I’m left with just one listing in our area, Berkshire Hathaway is dedicated to spending the marketing dollars needed to promote and sell your home, let me know how I can help. — Kelly McLain
WANT YOUR PROPERTY TO BE OUR NEXT COVER HOME?
If your home is currently listed, this is not a solicitation for that listing.
2018
ORAN
Kelly McLain
I
&
MARCH | APRIL
The #1 Agent
FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!
Residental Real Estate
Healthy Market in 2018
Sriracha Lime-Glazed Salmon GoodNes