The #1 Agent &
ORAN
FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!
Kelly McLain Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
OrangeTree I
N
S
I
D
E
R
Current Mortgage Rates Although they are rising, mortgage rates continue to remain below 3%. But a surge in home prices is threatening to make buying a home unaffordable once again. The 30-year fixed-rate mortgage averaged 2.99% for the week ending Aug. 30, rising three basis points from the week prior. It was the second consecutive week in which rates increased. Meanwhile, the 15-year fixed-rate mortgage jumped eight basis points to an average of 2.46%. The 5-year Treasuryindexed hybrid adjustable-rate mortgage rose by a single basis point to 2.91% on average. A couple of factors drove mortgage rates higher. “The rates advanced because the U.S. Treasury issued a Sales Manager large number of notes and investors are eyeing hopeful updates on COVID vaccine trials. Mortgage Loan Mortgage rates roughly track the direction of the yield Originator on the 10-year Treasury note, which has remained at its highest level since early July in recent weeks.But another factor contributing to the rise in interest rates was the surprise announcement last week that Fannie Mae and Freddie Mac were charging a new “adverse market” fee on mortgage refinances, a move that drew criticism from trade groups, consumer advocates and lawmakers on both sides of the aisle. “The announcement by the Federal Housing Finance Agency to apply a 0.5% fee to all mortgage refinance loans was one that caught lenders off guard, placing many in a difficult financial spot and forcing them to raise rates across the board — even for purchase loans, which aren’t directly affected by the new policy — in order to cover their losses.
Calling All Sleuths!
Mike Tompkins
602.329.6591 Direct NMLS # 217645 tompkins@ksstatebank.com| www.ksstatebank.com
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
I’ve been selling real estate around Orange Tree for a long time, never have I seen our inventory disappear at such a rapid rate. We usually have anywhere from 30 to 35 homes on the market in our area. Last month I reported 25 homes on the market, this issue of the Orange Tree Insider is showing 12 homes on the market. We are seeing a growing number of buyers coming into Scottsdale, most coming from Los Angeles, San Francisco, Portland, Seattle, Chicago, Kansas City, and Minneapolis. The last 2 months have seen the average square foot rise by 7.2%. This is a greater rise than we saw for the whole of the preceding 12 months, so appreciation has taken off like a rocket. Over the next month we expect to see a deceleration. Prices will probably continue to rise but at a less frenetic pace. However a 1% rise in a single month is still consistent with double digit appreciation for the whole year. CoreLogic’s analysts are predicting a fall in prices by the middle of 2021, I look for that to be revised, I feel Scottsdale is still going to be one of the top 5 destinations in the country, our inventory will most likely remain low over the next 6 months, eventually like everything else there will be a reversal. What else can I say? It’s a great time to sell your home and get top dollar!
Kelly McLain
ADDRESS SQFT BED BATH LIST PRICE PRICE PER SQFT Latest ACTIVE & Pending LISTINGS around Orange Tree
Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117
11001 N 60TH ST 11987 N 63RD PL 12004 N 63RD PL 9834 N 61ST PL 6116 E SHANGRI LA RD 5302 E SHANGRI LA RD 10462 N 60TH PL 5332 E POINSETTIA DR 5402 E WETHERSFIELD RD 6330 E DESERT COVE AVE 12602 N 56TH PL 12216 N 64TH ST
6,452 5,658 4,790 4,925 5,213 3,601 3,076 3,046 3,681 2,890 2,846 2,345
6 6 5 7 5 5 4 5 4 4 5 4
6.5 6.5 5 6 4.5 3 2.5 3 3.5 3 2.5 2
$2,999,500 $2,190,000 $2,040,000 $1,775,000 $1,299,000 $1,250,000 $999,777 $997,000 $925,000 $899,000 $819,500 $639,000
$464.89 $387.06 $425.89 $359.68 $249.18 $347.13 $325.03 $327.31 $251.29 $311.38 $287.95 $272.49
NEIGHBORHOOD CENTURY CIRCLE ESTATES ARABIAN GREEN ARABIAN GREEN TIERRA FELIZ NORTH ORANGE TREE MANOR DESERT HOMES TIERRA FELIZ NORTH WOODLEAF 3 RANCHO SAGUARO BAR TED ACRES CENTURY NORTH SHEA NORTH ESTATES
All information is deemed reliable but not guaranteed. Properties on this list have been listed/sold by various members of the MLS. Coming October 1, 2020
Proudly Serving Starbucks Coffee
Arizona Real Estate Market is Building Immunity
Individual Pumpkin Pies GoodNes If your home is currently listed, this is not a solicitation for that listing.
Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com
SEPTEMBER | OCTOBER 2020 Digital Drive-In Mesa | Daily Digitaldriveinaz.com
Drive-in movies have made a comeback this year, and with good reason. They’re a fun way to get out of the house and offer a more private movie-going experience than you’d get at traditional theaters. Mesa’s Digital Drive-In shows movies seven days per week, with new movie schedules updated weekly. A huge 24’ x 40’ digital high definition screen ensures you’ll always have the perfect seat. Movie choices range from classics and kid movies to comedy specials and filmed concerts.
Oak Creek Canyon Fall Foliage Tour Sedona | September - October Sedona.net/sedona-fall-colors
Just north of Phoenix, Sedona’s infamous red rocks attract tourists year-round, but autumn is the ideal time to witness the changing of the leaves. Escape to a cooler climate and enjoy the fall colors beautifully complemented by the unique desert landscape. Drive or hike through Oak Creek Canyon, taking route 89A north from Sedona, to see some of the season’s most abundant colors.
Mindfulness-Based Stress Reduction Virtual | September 24 – November 19 Aimsforwellness.com
This eight-week, online course is hosted by Dr. Joyoti Patel through the Arizona Integrative Medicine & Spa. Participants join a weekly class in addition to one full day session. Topics include mindfulness training techniques, meditation training, yoga and body awareness training, lectures and group discussions. The workshop aims to change destructive or harmful thinking patterns, explore deep feelings and bring participants a greater sense of overall wellbeing with techniques that can be practiced long after the eight weeks is over.
Art in the Garden & Sparkling Tea Phoenix | October 10 Shemerartcenter.org
Held at the Shemer Art Center, this annual event takes advantage of Arizona’s beautiful fall weather. Browse a number of garden-themed artist tents featuring florals, botanicals, art, jewelry and more. The event features live music, a silent auction and garden demonstrations from industry professionals. A ticketed Sparkling Tea is held on the patio in the afternoon, as the perfect way to top off your day in the garden.
TRUE CRIME FANS AZ REAL ESTATE AND THE PANDEMIC T
hanks to a global pandemic, the word “home” has taken on a much more profound meaning in 2020 that none of us could have predicted when the calendar turned on January 1st. It has, of course, impacted the real estate market in Arizona and the Metro Phoenix area, but not in the dire way you might expect. The greater Phoenix area began the year incredibly strong with industry experts expecting it to be one of the top markets in the U.S. Indeed, by July the average home price reached a record high of $412,278 with new home sales averaging $520,866 for that same month, the best since 2005. Inventory was low and demand was high. THEN COVID-19 HIT AND THE NATIONAL MOTTO BECAME STAY AT HOME. Arizonans are known for their resilience and the industry quickly adapted. Real estate and mortgage professionals were deemed essential services by Governor Ducey, and after an initial slowdown, business efficiently resumed with virtual tours, Zoom appointments, digital documents and more. The economic impact of temporary closures and high unemployment filings no doubt affected decision making, but competitive interest rates and eager sellers offering concessions continued to entice buyers into the third quarter. BY THE NUMBERS The Valley of the Sun is the 10th largest metro area in the country, offering a lower cost of living than many big cities, reasonable housing prices and a strong job market. The housing market here is also one of the highest appreciating in the country. Since bottoming out in 2011 after the Great Recession, prices are up 145%, and are converting at an increased pace. The average days on market is only 49 days and the listing versus sold price is at 99% which means sellers are pricing their homes competitively. The market still favors sellers with homeowners receiving an average of two offers and typically selling within a month or so. In spite of the pandemic, there has been almost a 50% increase in signed contracts in the Valley, allaying any of the fears that experts may have had. STILL THE PLACE TO BUY There is still an ongoing demand for housing which is maintaining the new home industry. Several factors continue to attract investors looking at Arizona and the Metro Phoenix area as well. Besides the enormous snowbird market, a growing retiree community, and low taxes, there is also a large student population – including those who will be spending more time at home due to pandemic-related restrictions. While many of us feared the worst a few months ago, the real estate experts are predicting continued momentum as the national economy gradually reopens. With Arizona’s robust market coming into 2020, there is even more optimism that we will see steady growth well into 2021. So whether you’re considering buying, selling, or staying put, you undoubtedly have a renewed appreciation of HOME. Be well, Arizona.
REAL ESTATE
corner
Cmystery for you! At-home sleuthing is having
alling all armchair detectives: Have we got a shocking
a major moment as more of us hunker down at home and have endless hours to spend in front of the TV or hooked up to our phones listening to a true-crime podcast. An abundance of TV shows, documentaries, and bestselling books are also centered on true crime stories—many unsolved to this day. Who knew that people were so obsessed with abductions, disappearances, and murder? What’s driving this crime obsession—and how can you get in on the titillating trend?
your favorite form of media. If you’re a TV bingewatcher, check out Netflix, which offers “Unsolved Mysteries,” a reboot of the iconic documentary series with new crimes told in a more sophisticated style with real interviews and news footage to help solve the case. Each episode delves into disappearances, murders, and even aliens. No surprise it’s been trending on Netflix for months. Netflix also offers up “Cold Case Files,” “I Am a Killer,” “The Confession Tapes,” and “Forensic Files Collection.”
Some experts believe viewers are drawn to the danger and mystery of true crime because it’s exciting and scary but isn’t all that real to the viewer since they’re watching from the safety of their homes. And although murder mysteries have been popular since the novels of Agatha Christie back in the 1920s, today’s viewers may be more intrigued because of new technology and science such as DNA testing which can help crack previously unsolved cases. Viewers can even send in tips to help detectives solve long-shelved cold cases. Surprisingly, viewers of today’s true crime genre are more often female perhaps looking to learn tips on how to defend themselves if ever in such frightening situations.
The podcast—an audio show platform—provides a perfect venue for uncovering lost stories of death and demise. Part lecture, part chat with friends, and part entertainment, podcasts are a popular way for interested parties to learn about these dreadful stories. A quick search for “True Crime” in your podcast app will turn up some 40 shows to choose from (“They Walk Among Us” anyone?). After all, listening to “My Favorite Murder” or “Southern Fried True Crime” sure makes doing the laundry more bearable. And on Facebook you’ll even find social groups that are dedicated to cracking real unsolved crimes, based on podcasts and television shows. We think Web sleuthing may be just the thing we need as a distraction to the world right now.
So how to dip your toe in the world of true crime? First, choose
IN GOOD TASTE
EVENT CALENDAR
Individual Pumpkin Pies INGREDIENTS 2
Large eggs
¼ tsp
Baking soda
1 cup
100% pumpkin canned
¼ tsp
Baking powder
½ cup
All-purpose flour
¼ tsp
Salt
¾ cup
Evaporated milk
2 tsp
Pumpkin pie spice
½ cup
Granulated sugar
Optional
Cinnamon, whipped cream
DIRECTIONS Place foil liners in 12 standard-size muffin cups and coat with cooking spray. Combine flour, pumpkin pie spice, salt, baking powder and baking soda in large bowl. In a separate large bowl, whisk pumpkin, sugar, evaporated milk and eggs until smooth. Add flour mixture to pumpkin mixture and whisk until smooth. Spoon ¼ cup of mixture into each muffin cup and bake at 350° F for 20 to 25 minutes. Cool completely in a pan on a wire rack. Top with freshly whipped cream and ground cinnamon, if desired. Refrigerate for 2 hours before serving.
GoodNes.com
SEPTEMBER | OCTOBER 2020 Digital Drive-In Mesa | Daily Digitaldriveinaz.com
Drive-in movies have made a comeback this year, and with good reason. They’re a fun way to get out of the house and offer a more private movie-going experience than you’d get at traditional theaters. Mesa’s Digital Drive-In shows movies seven days per week, with new movie schedules updated weekly. A huge 24’ x 40’ digital high definition screen ensures you’ll always have the perfect seat. Movie choices range from classics and kid movies to comedy specials and filmed concerts.
Oak Creek Canyon Fall Foliage Tour Sedona | September - October Sedona.net/sedona-fall-colors
Just north of Phoenix, Sedona’s infamous red rocks attract tourists year-round, but autumn is the ideal time to witness the changing of the leaves. Escape to a cooler climate and enjoy the fall colors beautifully complemented by the unique desert landscape. Drive or hike through Oak Creek Canyon, taking route 89A north from Sedona, to see some of the season’s most abundant colors.
Mindfulness-Based Stress Reduction Virtual | September 24 – November 19 Aimsforwellness.com
This eight-week, online course is hosted by Dr. Joyoti Patel through the Arizona Integrative Medicine & Spa. Participants join a weekly class in addition to one full day session. Topics include mindfulness training techniques, meditation training, yoga and body awareness training, lectures and group discussions. The workshop aims to change destructive or harmful thinking patterns, explore deep feelings and bring participants a greater sense of overall wellbeing with techniques that can be practiced long after the eight weeks is over.
Art in the Garden & Sparkling Tea Phoenix | October 10 Shemerartcenter.org
Held at the Shemer Art Center, this annual event takes advantage of Arizona’s beautiful fall weather. Browse a number of garden-themed artist tents featuring florals, botanicals, art, jewelry and more. The event features live music, a silent auction and garden demonstrations from industry professionals. A ticketed Sparkling Tea is held on the patio in the afternoon, as the perfect way to top off your day in the garden.
TRUE CRIME FANS AZ REAL ESTATE AND THE PANDEMIC T
hanks to a global pandemic, the word “home” has taken on a much more profound meaning in 2020 that none of us could have predicted when the calendar turned on January 1st. It has, of course, impacted the real estate market in Arizona and the Metro Phoenix area, but not in the dire way you might expect. The greater Phoenix area began the year incredibly strong with industry experts expecting it to be one of the top markets in the U.S. Indeed, by July the average home price reached a record high of $412,278 with new home sales averaging $520,866 for that same month, the best since 2005. Inventory was low and demand was high. THEN COVID-19 HIT AND THE NATIONAL MOTTO BECAME STAY AT HOME. Arizonans are known for their resilience and the industry quickly adapted. Real estate and mortgage professionals were deemed essential services by Governor Ducey, and after an initial slowdown, business efficiently resumed with virtual tours, Zoom appointments, digital documents and more. The economic impact of temporary closures and high unemployment filings no doubt affected decision making, but competitive interest rates and eager sellers offering concessions continued to entice buyers into the third quarter. BY THE NUMBERS The Valley of the Sun is the 10th largest metro area in the country, offering a lower cost of living than many big cities, reasonable housing prices and a strong job market. The housing market here is also one of the highest appreciating in the country. Since bottoming out in 2011 after the Great Recession, prices are up 145%, and are converting at an increased pace. The average days on market is only 49 days and the listing versus sold price is at 99% which means sellers are pricing their homes competitively. The market still favors sellers with homeowners receiving an average of two offers and typically selling within a month or so. In spite of the pandemic, there has been almost a 50% increase in signed contracts in the Valley, allaying any of the fears that experts may have had. STILL THE PLACE TO BUY There is still an ongoing demand for housing which is maintaining the new home industry. Several factors continue to attract investors looking at Arizona and the Metro Phoenix area as well. Besides the enormous snowbird market, a growing retiree community, and low taxes, there is also a large student population – including those who will be spending more time at home due to pandemic-related restrictions. While many of us feared the worst a few months ago, the real estate experts are predicting continued momentum as the national economy gradually reopens. With Arizona’s robust market coming into 2020, there is even more optimism that we will see steady growth well into 2021. So whether you’re considering buying, selling, or staying put, you undoubtedly have a renewed appreciation of HOME. Be well, Arizona.
REAL ESTATE
corner
Cmystery for you! At-home sleuthing is having
alling all armchair detectives: Have we got a shocking
a major moment as more of us hunker down at home and have endless hours to spend in front of the TV or hooked up to our phones listening to a true-crime podcast. An abundance of TV shows, documentaries, and bestselling books are also centered on true crime stories—many unsolved to this day. Who knew that people were so obsessed with abductions, disappearances, and murder? What’s driving this crime obsession—and how can you get in on the titillating trend?
your favorite form of media. If you’re a TV bingewatcher, check out Netflix, which offers “Unsolved Mysteries,” a reboot of the iconic documentary series with new crimes told in a more sophisticated style with real interviews and news footage to help solve the case. Each episode delves into disappearances, murders, and even aliens. No surprise it’s been trending on Netflix for months. Netflix also offers up “Cold Case Files,” “I Am a Killer,” “The Confession Tapes,” and “Forensic Files Collection.”
Some experts believe viewers are drawn to the danger and mystery of true crime because it’s exciting and scary but isn’t all that real to the viewer since they’re watching from the safety of their homes. And although murder mysteries have been popular since the novels of Agatha Christie back in the 1920s, today’s viewers may be more intrigued because of new technology and science such as DNA testing which can help crack previously unsolved cases. Viewers can even send in tips to help detectives solve long-shelved cold cases. Surprisingly, viewers of today’s true crime genre are more often female perhaps looking to learn tips on how to defend themselves if ever in such frightening situations.
The podcast—an audio show platform—provides a perfect venue for uncovering lost stories of death and demise. Part lecture, part chat with friends, and part entertainment, podcasts are a popular way for interested parties to learn about these dreadful stories. A quick search for “True Crime” in your podcast app will turn up some 40 shows to choose from (“They Walk Among Us” anyone?). After all, listening to “My Favorite Murder” or “Southern Fried True Crime” sure makes doing the laundry more bearable. And on Facebook you’ll even find social groups that are dedicated to cracking real unsolved crimes, based on podcasts and television shows. We think Web sleuthing may be just the thing we need as a distraction to the world right now.
So how to dip your toe in the world of true crime? First, choose
IN GOOD TASTE
EVENT CALENDAR
Individual Pumpkin Pies INGREDIENTS 2
Large eggs
¼ tsp
Baking soda
1 cup
100% pumpkin canned
¼ tsp
Baking powder
½ cup
All-purpose flour
¼ tsp
Salt
¾ cup
Evaporated milk
2 tsp
Pumpkin pie spice
½ cup
Granulated sugar
Optional
Cinnamon, whipped cream
DIRECTIONS Place foil liners in 12 standard-size muffin cups and coat with cooking spray. Combine flour, pumpkin pie spice, salt, baking powder and baking soda in large bowl. In a separate large bowl, whisk pumpkin, sugar, evaporated milk and eggs until smooth. Add flour mixture to pumpkin mixture and whisk until smooth. Spoon ¼ cup of mixture into each muffin cup and bake at 350° F for 20 to 25 minutes. Cool completely in a pan on a wire rack. Top with freshly whipped cream and ground cinnamon, if desired. Refrigerate for 2 hours before serving.
GoodNes.com
The #1 Agent &
ORAN
FOR ORANGE TREE EQUESTRIAN MANOR WITH OVER 100 TRANSACTIONS!
Kelly McLain Realtor
602.625.4653
mclainjk@aol.com www.kellymclain.com
OrangeTree I
N
S
I
D
E
R
Current Mortgage Rates Although they are rising, mortgage rates continue to remain below 3%. But a surge in home prices is threatening to make buying a home unaffordable once again. The 30-year fixed-rate mortgage averaged 2.99% for the week ending Aug. 30, rising three basis points from the week prior. It was the second consecutive week in which rates increased. Meanwhile, the 15-year fixed-rate mortgage jumped eight basis points to an average of 2.46%. The 5-year Treasuryindexed hybrid adjustable-rate mortgage rose by a single basis point to 2.91% on average. A couple of factors drove mortgage rates higher. “The rates advanced because the U.S. Treasury issued a Sales Manager large number of notes and investors are eyeing hopeful updates on COVID vaccine trials. Mortgage Loan Mortgage rates roughly track the direction of the yield Originator on the 10-year Treasury note, which has remained at its highest level since early July in recent weeks.But another factor contributing to the rise in interest rates was the surprise announcement last week that Fannie Mae and Freddie Mac were charging a new “adverse market” fee on mortgage refinances, a move that drew criticism from trade groups, consumer advocates and lawmakers on both sides of the aisle. “The announcement by the Federal Housing Finance Agency to apply a 0.5% fee to all mortgage refinance loans was one that caught lenders off guard, placing many in a difficult financial spot and forcing them to raise rates across the board — even for purchase loans, which aren’t directly affected by the new policy — in order to cover their losses.
Calling All Sleuths!
Mike Tompkins
602.329.6591 Direct NMLS # 217645 tompkins@ksstatebank.com| www.ksstatebank.com
7373 Scottsdale Road, Scottsdale, AZ 85253 | 480.308.0395 MEMBER FDIC | EQUAL HOUSING LENDER
I’ve been selling real estate around Orange Tree for a long time, never have I seen our inventory disappear at such a rapid rate. We usually have anywhere from 30 to 35 homes on the market in our area. Last month I reported 25 homes on the market, this issue of the Orange Tree Insider is showing 12 homes on the market. We are seeing a growing number of buyers coming into Scottsdale, most coming from Los Angeles, San Francisco, Portland, Seattle, Chicago, Kansas City, and Minneapolis. The last 2 months have seen the average square foot rise by 7.2%. This is a greater rise than we saw for the whole of the preceding 12 months, so appreciation has taken off like a rocket. Over the next month we expect to see a deceleration. Prices will probably continue to rise but at a less frenetic pace. However a 1% rise in a single month is still consistent with double digit appreciation for the whole year. CoreLogic’s analysts are predicting a fall in prices by the middle of 2021, I look for that to be revised, I feel Scottsdale is still going to be one of the top 5 destinations in the country, our inventory will most likely remain low over the next 6 months, eventually like everything else there will be a reversal. What else can I say? It’s a great time to sell your home and get top dollar!
Kelly McLain
ADDRESS SQFT BED BATH LIST PRICE PRICE PER SQFT Latest ACTIVE & Pending LISTINGS around Orange Tree
Orange Tree Pool Service & Repairs Steve Sherman | 480-570-1117
11001 N 60TH ST 11987 N 63RD PL 12004 N 63RD PL 9834 N 61ST PL 6116 E SHANGRI LA RD 5302 E SHANGRI LA RD 10462 N 60TH PL 5332 E POINSETTIA DR 5402 E WETHERSFIELD RD 6330 E DESERT COVE AVE 12602 N 56TH PL 12216 N 64TH ST
6,452 5,658 4,790 4,925 5,213 3,601 3,076 3,046 3,681 2,890 2,846 2,345
6 6 5 7 5 5 4 5 4 4 5 4
6.5 6.5 5 6 4.5 3 2.5 3 3.5 3 2.5 2
$2,999,500 $2,190,000 $2,040,000 $1,775,000 $1,299,000 $1,250,000 $999,777 $997,000 $925,000 $899,000 $819,500 $639,000
$464.89 $387.06 $425.89 $359.68 $249.18 $347.13 $325.03 $327.31 $251.29 $311.38 $287.95 $272.49
NEIGHBORHOOD CENTURY CIRCLE ESTATES ARABIAN GREEN ARABIAN GREEN TIERRA FELIZ NORTH ORANGE TREE MANOR DESERT HOMES TIERRA FELIZ NORTH WOODLEAF 3 RANCHO SAGUARO BAR TED ACRES CENTURY NORTH SHEA NORTH ESTATES
All information is deemed reliable but not guaranteed. Properties on this list have been listed/sold by various members of the MLS. Coming October 1, 2020
Proudly Serving Starbucks Coffee
Arizona Real Estate Market is Building Immunity
Individual Pumpkin Pies GoodNes If your home is currently listed, this is not a solicitation for that listing.
Produced by DLP Marketing • (480)460-0996 • DLPmarketing.com