Costco - An indicator of the Paradise Valley - North Scottsdale Luxury Home Sales

By
Commercial Real Estate Agent with Realty Executives BR074909000AZ RB 21330 HI

March 14,2012

   Last night just before closing of Costco on Hayden Road, I ran into 4 real estate agents that specialize in the Luxury Home Sales Market -- they work in Fountain Hills, Paradise Valley, and North Scottsdale. Three of the 4 had massive loads of items in their carts!

I mentioned to them -- Well, Business is good? -- One answered - Yes - I sold a 3.5 million dollar house and it closed today!

The others related similar stories however with price tags in the 1 million to 2 million dollar range.

The market is very busy -- because:  prices are finally getting reasonable on the high end inventory: there is cash chasing the good deals; mulitiple offers are driving prices above asking price; well priced inventory is in short supply; appraisals are verifiying offer prices; buyers outnumber good houses available (priced correctly).

I remind you of the KOM/QOM Factor:  King of the Mountain/ Queen of the Mountain Fator:

Land value analysis tool: 1-5 below the road, 5-10 above the road. Highest house on the hill 10 for land value; lowest house below the road a 1 then 5 at low side of the road and 6 on the high side of the road.

All features and size to size comparisons go into the remainder of the house evaluation: compare age,size,economic utility, garages,bedrooms,bathrooms, lot size, and compare sell price per square feet of house and of lot. 

Compare taxes for land and buildings and the treads over the last 4 years. The percentage change year to year give you a general though not specific idea of the value today. Taxes are typically 2 years behind the market both coming down and going up.

Remember invest for cash flow and buy  your own home for comfort! 

Need any real estate help? - Luxury Residential, Development, or Investment give me a call: Tish -Tom Tischer Associate Broker, 480-231-0782, TTischer@Gmail. com or www.PVLuxuryHomeSearch.com  for all luxury home listings in PV, North Scottsdale, Arcadia

77 Degrees Today! Hope you are enjoying a Spring Training Game Today!   Tish

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