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INSIDE THIS ISSUE
July 2017 Powered by
CONDO TOWNHOME &LOFT
2 Goodbye Renting, Hello Buying 3 Community Maps
FEATURED COMMUNITY
Scott Sandler, Sandler Photography, Via Cachet Homes
Cachet at The Wigwam By Cachet Homes This Santa Barbara-style gated community is located in the Village of Litchfield Park. The community features three home collections: The Signature Collection of single-family homes are 1,900 to 2,292 square-feet and offer two- and three-bedroom single-level floor plans plus dens; The Lifestyle Collection of three-bedroom townhomes are 1,723 to 2,895 square-feet with a private rear yard; and The Villa Collection of condominiums range from 1,522 to 1,961 square-feet and offer two-bedroom floor plans or two bedrooms plus a den and a large patio. The focal point of the community is a beautiful amenity area with a pool, spa, outdoor gathering space with a fireplace, an alfresco kitchen and an exercise facility. Cachet at The Wigwam borders The Wigwam Golf Club’s Heritage Course; the community is within walking distance to The Wigwam Resort as well as restaurants and shopping.
Details Number of homes: 167 Prices: From the $250,000s Address: 14200 W. Village Pkwy, Litchfield Park Directions: Take 1-10 west to N. Litchfield Road (Exit 128) and go north. The community is south of Camelback Road off Litchfield Road. Sales office hours: 10 a.m.–5:30 p.m. Mon.–Sat.; 11:30 a.m.–5:30 p.m. Sun. Phone: 623-385-0129 Website: CachetAtTheWigwam.com
Get ready to move Jason Youn Via The Cays at Downtown Ocotillo
Quick move-in condos and townhomes are easy to 4nd By Debra Gelbart
T
he townhome or condo you want to move into might be available right now or in the very near future instead of several months from now, said Kevin Rosinski, division vice president for Toll Brothers, a luxury homebuilder in Scottsdale that developed The Villages at Aviano, a gated condominium community in the Desert Ridge area. “A condo is different from a single-family home in that with a condo, the entire building needs to be complete prior to move-in,” Rosinski said. “Move-in-ready means that the building is ready for occupancy so you don’t have to wait.” With a quick move-in condo, you get immediate occupancy in an amenity-rich community, “low hassle and a sense of community with neighbors,” said Shantelle Monongye of The Statesman Group of Companies, which developed The Cays at Downtown Ocotillo in Chandler. “Condominiums offer the opportunity to look at multiple floor plans and options all in
one place before purchasing so you can find the best one to suit your lifestyle and needs.” In addition, Paul Williamson of True Craft Residential, the developer and builder of Novella at Arcadia (a collection of luxury townhomes in Phoenix), said that if you purchase a move-in-ready condo or townhome, you don’t have to worry about the interest rate on a mortgage
Jason Youn Via The Cays at Downtown Ocotillo
INCKX Photography Via Toll Brothers
GET READY TO MOVE; continued on page CL2
CHANDLER’S FASTEST SELLING CONDOMINIUM COMMUNITY Elevate Yourself
urban homes in the biltmore district from the low $400,000’s
PRICED FROM THE
LOW
$200’S
UP TO $10,000 IN INCENTIVES Two and three bedroom single-level open floor plans ranging from 1315 to 1830 square feet. • Gated Community • Large Pool and Spa • Fitness Center • Putting Green
• Fireplaces • Stainless Steel Appliances • Private Patios • Over-Sized 1 & 2 Car Garages
The only urban homes to offer private in-home elevators.
encueliving.com Furnished
CheBellaVillas.com | 480.540.0615
open
camelback rd.
n. 28th
e. campbell ave.
n. 25th
Hours: Fri-Tue 12pm-5pm Wed & Thur By Appointment Only
4444 N 25th St, Phoenix, AZ 85016 602.402.0067
now
n. 24th
900 S. Canal Dr. | Chandler, AZ 85225
models
Sales by Cambridge Properties, Inc., Keith Mishkin, Broker. Square footage is approximate and may vary. This material is not an offer to sell real property and shall not be construed as an offer in violation of the law of any jurisdiction. Obtain all relevant documents, disclaimers, and covenants, and read them before signing anything. The depictions herein may reflect building, amenities and improvements some or all of which may be conceptual only, and subject to change without notice. All brokers welcome. Price, terms, incentives, material, and availability subject to change without notice. Subject to Public Report. BRE#01856457
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Goodbye renting, hello buying Why purchasing a condo or townhome may make a great deal of 0nancial sense By Debra Gelbart
Novella at Arcadia/True Craft Residential
INCKX Photography Via Toll Brothers
GET READY TO MOVE; continued from page CL1
going up before you lock in a rate; you can “take advantage of today’s extremely low mortgage rates. And you have no risk of construction delays,” Williamson [of True Craft Residential] said. Incentives to buy “We are currently offering a $15,000 credit to buyers and a four percent co-op commission to their agents,” Williamson said. “Our preferred lender credits $2,000 toward closing costs, and the owner, The Statesman Group, will contribute $1,500,” said Monongye about The Cays. “As an owner at The Cays, you are a member of The Lakes at Ocotillo Association with access to boating, paddle-boarding, golf and tennis.” Toll Brothers and K. Hovnanian® Homes offer varied incentives, depending on the home and/or community selected.
“
“The first step is a consultation with one of our sales associates to discuss your needs and wants.” —Shantelle Monongye, The Statesman Group of Companies
Questions to ask Before signing on the dotted line, Williamson recommends asking what upgrades have been added to the movein-ready condo or townhome. Monongye advises buyers to ask builders: • Who is your preferred lender? • What is your deposit structure? • What is the timeline for move-in? • Can I customize my residence? Rosinski [of Toll Brothers] recommends asking about what specifically the HOA fees cover. He also suggests asking who the property manager is. “When purchasing a townhome, it is important to understand what items your homeowners’ association manages within the neighborhood,” said Andy Pedersen of K. Hovnanian® Homes, which is selling townhomes at six different communities around the Valley. “Typically, the HOA will maintain amenities such as pools, landscaping and gathering areas, but the HOA for many townhome communities
INCKX Photography Via Toll Brothers
also manages the exterior maintenance of the homes.” The buying process The process of buying a quick move-in condo or townhome isn’t much different from buying a single-family home from the buyer’s viewpoint, Rosinski said. Once a sales representative helps a buyer determine that a quick move-in townhome will meet their needs, Pedersen said that the customer is invited to tour a townhome that has just been completed or is under construction. “We give everyone a hard-hat and walk them through the home,” he said. “We explain the layout and present them with a list of options for the townhome.” What’s more, the customer also gets a virtual tour using an iPad, Pedersen said; the device shows them what their completed new townhome will look like. “The first step is a consultation with one of our sales associates to discuss your needs and wants,” Monongye said, “so that they can provide you with the best recommendation to meet those needs. We then take you through our model or existing quick move-ins to show you what is available.” At The Villages at Aviano, where every home has an attached two-car garage, Rosinski said that the process of buying a quick move-in townhome is similar to that for buying a single-family home. Williamson agrees, stating that the buyer can close in as little as 30 days just like with a move-in-ready single-family home. However, how soon you can actually move in to your new condo or townhome depends on how soon your mortgage is approved, builders point out. Often, Pedersen said, a 20 percent down-payment is required, but some lender programs require as little as three percent down.
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ecoming an owner of a condo or townhome has advantages you may not have thought about. “There are many reasons why buying a condo is a good idea,” said Ken Peterson, vice president of sales and marketing for Shea Homes Arizona. “When you buy, you are making an investment in ownership and you have an actual asset — not just a bill at the end of the month. When you buy a condo and contribute to the homeowners’ association, you have a voice in HOA affairs. By purchasing a condo you also have the freedom to select and change any interior feature, whereas when renting, you have no such options.” More stable payments “As rent prices continue to rise along with mortgage interest rates, you have a great opportunity to purchase — oftentimes for less than you can lease,” explained Joel Starkman, director of new home sales for Coronado Commons, a luxury townhome community near downtown Phoenix. “Construction costs are rising, too, which means new-housing prices will continue to rise as well. So why not start ‘saving’ money by buying?”
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“A rental unit won’t have the advantages of new appliances, brand-new flooring and modern finishes.” —Andy Pedersen, K. Hovnanian® Homes
And if you choose to buy a move-in-ready condo or townhome, you may be getting the best of all possible scenarios and you may even find it easier to get a loan. “With move-in-ready, you can finance, close and take possession almost immediately,” said Chris Sailus, a vice president in Washington Federal’s mortgage and retail division. When a condo or townhome is move-in-ready, “it’s easier for a lender to absorb the project specifics,” Sailus said. “To-be-built (condos and townhomes) require a lot of patience, both from the buyer and the lender.” Additional advantages Buying a quick move-in condo or townhome allows you to purchase a brand-new home and settle in fast which can be an advantage if you have sold your previous home and want to avoid a “double” move while waiting
Getty Images
for a new home to be built, Peterson said. “Buying a move-in-ready home also gives you a new, complete home with designerselected options,” he noted. “There are often incentives given on move-in-ready residences, making them a great investment. And you have the ability to lock-in rates sooner than you would if you were to build from the ground up.” “If you have a fixed-rate mortgage, you’re going to have a set rate to pay every month versus continuing rent increases,” said Andy Pedersen, group vice president of marketing and merchandising for K. Hovnanian® Homes in Arizona, California and Texas. “As new-home prices inch up, rents can inch up at an even faster rate,” he said. Better energy ef0ciency And, Pedersen pointed out, newconstruction townhomes and condos have the benefit of higher energy efficiency compared with a rental townhome built in the 1970s or ’80s. “A rental unit also won’t have the advantages of new appliances, brand-new flooring and modern finishes,” he said. In addition, today’s new-construction townhomes and condos typically have an open concept floor plan — especially in the kitchen and living areas — that allows for greater interaction with family and friends. The bottom line The bottom line on deciding whether to buy or rent a new townhome or condo, Starkman said, depends on market conditions and how long you expect to stay in your new home. If it’s at least two years, it may be better for you financially to buy now rather than continue renting, he said. “The buyer also should consider the neighborhood and how successful the neighborhood and community have been,” Starkman said. If a community has sold a significant number of units, “then it’s likely to be in demand in the future,” he concluded.
Editor PAULA HUBBS COHEN Paula.Cohen@cox.net Contributing Editor JIM WILLIAMS JLWilliams@RepublicMedia.com
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NEW URBAN
SOPHISTICATION SALES CENTER NOW OPEN
LOCATED IN THE HEART OF DOWNTOWN CHANDLER
Saturday, July 29th 11AM-2PM
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All information provided is preliminary in nature. Changes may be made to the project, including but not limited to designs, floor plans, resident sizes, services, amenities, and pricing. No offer to sell may be made or accepted prior to the issuance of the final Arizona Subdivision Disclosure Report issued by the Arizona Department of Real Estate. All is subject to ADRE Final Public Report.
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Locator Maps
NORTHEAST
1 AIRE K. Hovnanian® Homes
NORTHEAST
17 3
11 13 14 9
16
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From the low $400s 68th St. and McDowell Rd., Scottsdale khov.com/Aire 877-546-8669 Living 2 Biltmore Watt Communities Grand Opening! From the $320s 26th St. & Glenrosa Ave., Phoenix MyBiltmoreLiving.com 480-887-4933 Village at 3 Desert Sonoran Foothills Homes by Towne New Models Now Open From the low $200s 2425 W. Bronco Butte Trail, Phoenix HomesbyTowne.com 623-328-8806 12 4 Edgemont From $389,000 42nd St. and Thomas Rd., Phoenix 2825n42nd.com • 602-385-1220
15
5 Diamanté Meritage Homes Luxury Condominiums From the low $300s Thomas Rd. & 64th St., Scottsdale MeritageHomes.com 877-278-4188
10
6 Gallery K. Hovnanian® Homes 2 6 4
5 1 12
Final Opportunities From the upper $400s 71st St. & Earll Dr., Scottsdale khov.com/Gallery 877-546-8669 Ridge Condos 7 Monterey Cachet Homes Walk to shopping and dining From the low $300s West of Scottsdale Rd. & south of Mayo Blvd on 68th St., Scottsdale MontereyRidge.com 480-356-0179
SOUTHEAST
3 Copper Leaf Villas
1 The Cays at Downtown Ocotillo Statesman Sales & Marketing, LLC Immediate Occupancies From the $230s 2511 W. Queen Creek Rd., Chandler (S.E. corner of Price Rd. & Queen Creek Rd.) TheCaysAtOcotillo.com 480-248-3737 2 Che Bella Villas
Graham Development From the low $200s On Pecos Rd. between Cooper Rd. and McQueen Rd. 900 S. Canal Dr., Chandler CheBellaVillas.com 480-540-0615
Copper Leaf Development, Inc. Three models available to tour From $126,900 to $170,900+ 24th St. and Southern Ave., Phoenix Sales Office: 5816 S. 22nd Terrace, Phoenix CopperLeafVillas.com 602-281-6103
4 San Marcos Condos
Wood Partners Sales Office Now Open! 445 W. Chandler Blvd., Chandler Sales Office Address: 348 W. Chandler Blvd., Chandler Office Hours: Wed. & Thurs. 9 a.m.-5 p.m. & by appt. LiveAtSanMarcosCondos.com 480-516-0476
Taos Condominiums 15 The 1- and 2-bedroom
Sales Gallery: 15450 N. Scottsdale Rd., Scottsdale LiveAtOptimaKierland.com 480-630-1200
Luxury Condos From the low $100s 4704 E. Paradise Village Pkwy N., Phoenix TheTaosCondos.com 602-845-9065; 888-988-8285
at Silverstone 9 Pinnacle K. Hovnanian® Homes
of Desert Ridge 16 Toscana Toscana Building #10
Coming Soon! 74th St. & Pinnacle Peak Rd., Scottsdale khov.com/Phoenix 877-546-8669
Statesman Sales & Marketing, LLC BEST Luxury Condos in N. Phoenix/Scottsdale From the mid $200s 5450 E. Deer Valley Dr., Phoenix ToscanaOfDesertRidge.com 480-767-5665
16 10 Pointe K. Hovnanian® Homes From the low $400s 16th St. and Morten Ave., Phoenix khov.com/Pointe16 877-546-8669
at 17 Villagio Dove Valley Ranch Homes by Towne New Models Now Available From the mid $200s 33575 N. Dove Lakes Dr., Cave Creek HomesbyTowne.com 480-621-5700
Ridge at Troon North 11 The Family Development From the mid $300s E. Dynamite & N. 103rd Place, Scottsdale TheRidgeAtTroonNorth.com 480-431-9377
SOUTHWEST
12 SKYE K. Hovnanian® Homes Grand Opening July 22! 68th St. and McDowell Rd., Scottsdale khov.com/Skye 877-546-8669
1
at 13 Summit Pinnacle Peak Patio K. Hovnanian® Homes From the upper $500s Jomax Rd. & Alma School Rd., Scottsdale khov.com 877-546-8669
SOUTHWEST
at Silverstone 14 Summit K. Hovnanian® Homes Coming Soon! 74th St. & Pinnacle Peak Rd., Scottsdale khov.com/Phoenix 877-546-8669
Cachet at The Wigwam
1 Cachet Homes
Condos from the $250s Homes from the low $300s Litchfield Rd. and W. Village Pkwy, Litchfield Park CachetAtTheWigwam.com 623-385-0129
SOUTHEAST 3 6
4
6 The Villages at Mesa
Grande BelaFlor Communities From the low $200s 2821 S. Skyline Dr., Mesa MyMesaGrande.com 480-772-0447
2 1 5
ELEVATED LIVING IN OCOTILLO MOVE-IN READY ONE-BEDROOMS FROM THE $200,000s AND TWO-BEDROOMS FROM THE $300,000s.
THE CAYS AT DOWNTOWN OCOTILLO 2511 2 W QUEEN CREEK ROAD, CHANDLER, AZ 85248 480.648.0300 OWNATTHECAYSATOCOTILLO.COM N binding No bi di offer ff to t sellll may be made d or accepted prior to issuance of a final Arizona Subdivision Public Report for the property. Real Estate Consulting, Sales and Marketing by Polaris Pacific – a licensed Arizona, California, Colorado, Hawaii, Oregon and Washington Broker – ADRE #661757000.
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Kierland 8 Optima From the low $300s
5 Serenity Fulton Ranch
Serenity Development Summer Sales Specials Now Available! Final Few Fulton Ranch New Homes Starting from the mid $200s! Model Villas Open Daily 4777 S. Fulton Ranch Rd., Chandler SerenityFultonRanch.com 602-682-4500
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The Latest in Modern Luxurious Living & the Valley’s Most Stylish Locations
A Lu xu r y Co n d o m i n i u m Co m m u n i t y
You don’t have to choose between location and modern style – K. Hovnanian® Homes’ newest neighborhoods bring everything you’re looking for in a new cutting-edge home to the most sought-after locations.
Summit at Pinnacle Peak Patio Villa-style homes at the base of Pinnacle Peak mountain in North Scottsdale Alma School Road and Jomax Road From the upper $500s
Gallery
Aire
Modern townhome enclave in the heart of Old Town Scottsdale 71st Street and Earll Drive
Luxury townhomes in the McDowell corridor of Scottsdale 68th Street and McDowell Road
Final Opportunities!
From the upper $300s
Now Selling!
From the upper $400s
Pointe 16
Summit at Silverstone
Resort-style townhomes in North Central Phoenix 16th Street and Morten Avenue
Villa-style homes at 74th Street and Pinnacle Peak Road
From the low $400s
Coming This Fall! Call 877-546-8669 for more information or to join our VIP interest list
RESORT TO A BETTER LIFESTYLE.
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Coming This Fall! Call 877-546-8669 for more information or to join our VIP interest list
RESORT-STYLE LIVING
Ask how you can be in your new home in as little as 60-90 days! Skye Single-family garden homes in the McDowell corridor of Scottsdale 68th Street and McDowell Road Grand Opening July 22!
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Looking for a new home, but unsure where to start? Contact our friendly Community Information Specialists at 877-546-8669.
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If you are considering a future in the gorgeous Fulton Ranch community, NOW IS THE TIME.
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Availability, prices, incentives and dates are subject to change, and K. Hovnanian® Homes reserves the right to cancel or change all offers without prior notice; see Sales Consultant for details. If buyer is working with a licensed real estate agent or broker, the agent or broker must accompany and register buyer on first visit to each community or pre-register using our Rapid Registration form prior to buyer’s first visit. Rapid Registration form can be obtained by emailing arizona@khov.com or calling 877-546-8669.. No offer for sale or lease may be made or accepted until buyer’s receipt of Arizona Subdivision Public Report. A public report is available on the State Real Estate Department’s website. We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.© 2017 K. Hovnanian® Great Western Homes, LLC. ROC 188563. ©2017 K. Hovnanian® Building Company, LLC, an Arizona limited liability company. ROC 277023
A LMA S CHOOL & F ULTON R ANCH B LVD . S E R E N I T Y F U LTO N R A N C H . CO M | 602.682.4500
[STAY]CATION
ENJOY[HOME]LIFE
Luxury condominiums from the low $300s • • • •
Immediate move-in available 1,091 - 1,870 sq. ft. Single level living plans Walk to shopping and dining
• • • •
Oversized 2-car garages with storage Swimming pool and spa area Elevator in each building Fabulous freeway access
MAKE EVERY DAY A VACATION DAY MOVE-IN READY HOMES WITH INCENTIVES* • Purchase includes a Cachet Elite Social Membership to The Wigwam Resort
3 HOME DESIGNS FOR EVERY LIFESTYLE • Single Family from $346,900 • Townhomes from $319,900 • Condominiums from $259,900 AMENITY AREA INCLUDING • Heated Pool and Spa • Exercise Room • Outdoor Kitchen & Entertainment area
GATED IN LITCHFIELD PARK
17850 N 68th St, Phoenix, Arizona 85054 480.356.0179 • www.montereyridge.com
CORNER OF LITCHFIELD ROAD AND VILLAGE PARKWAY
CachetAtTheWigwam.com | 623-385-0129
All pricing, availability and plans are subject to change without notice. Sq. footage is approximate. All brokers are welcome and must accompany prospect on their first visit. Sales subject to review of Subdivision Public Report.
GATED GOLF COURSE COMMUNITY IN LITCHFIELD PARK. FROM THE $250’S
LITCHFIELD RD & VILLAGE PKWY CachetAtTheWigwam.com | 623.385.0129
Square footage and dimensions are estimated and may vary in actual construction. Floor plans and elevations are artist’s conception and are not intended to show specific detailing. Floor plans are the property of Cachet Homes and its affiliates For further information, please see Sales Associate All sales are subject to buyers receipt and review of a Arizona Subdivision Public Report. *See Sales Associate for incentive information. Prices, features, floorplans, elevations and incentives subject to change without notice.
LUXURY CONDOS IN THE NE VALLEY FROM THE LOW 300’S 17850 N 68th ST Phoenix, Arizona 85054 MontereyRidge.com 480.356.0179 AR-0008703302-01