ASSOCIATE BROKER, ABR, GRI, CRS & CLHMS …€¦ · ASSOCIATE BROKER, ABR, GRI, CRS & CLHMS Helene...

ASSOCIATE BROKER, ABR, GRI, CRS & CLHMS

Helene Cass

(480) 563-3333 (800) 515-8326

Online at www.MMRHOMES.com RE/MAX FINE PROPERTIES EACH OFFICE INDEPENDENTLY OWNED AND OPERATED

McDowell Mountain Ranch Real Estate News

Spotlight On Our Community Those who’ve lived in the valley for a while have probably been conditioned (no pun intended) to view summer as a time when the pace of life slows and batteries can be recharged in anticipation of things to come — once the cooler weather re-turns. However, this year, oddly enough, things seem to be running contrary to both traditional expectations and the presumptive impact of a still lethargic economy. In fact, in many ways our little world suddenly seems more alive with possibilities than it has for some time.

The activity in the commercial sector is a major case on point. We appear to be in the midst of a significant repositioning (and re-pricing) process that should give us an edge in attracting new businesses to the area as the sector begins to recover. The most prominent indica-tor of this trend is the number of ownership changes among our local retail centers.

The Desert Canyon Center, which was pur-chased by the investment trust, Whitestone REIT a few months ago, has now added two new businesses and is reputedly in negotia-tions with a third. And, although Whitestone is based in Houston, they seem quite in-trigued by the potential here in the valley. They’ve not only opened a formal sales office in the Desert Canyon Center, but they’ve just spent $5 million to purchase the Tuscany Village Shopping Center in Gilbert.

Meanwhile, the developers of Windgate Crossing just completed the purchase of the 9 acre site that houses the existing shopping center and an additional 11 acres that wrap

around the original site. Byxbee Development paid the Arizona State Land Department $3.49 million for the property and reportedly plans to develop the land they acquired with a mixed use approach that will likely include offices and healthcare facilities.

DC Ranch Crossing, a center that sits on the corner of Pima Road and Legacy Blvd and is anchored by an AJ’s, Calistro’s California

Kitchen and Lush Burger, was also sold quite recently and, as you probably know, our own McDowell Mountain Marketplace (i.e. the Basha’s Center) is currently up for sale.

The reason I believe that these moves are a harbinger of better times is because much of our retail sector is now in the hands of own-ers who are in a position to offer the kinds of deals necessary to attract new tenants.

It’s unfortunate, but some of their predeces-sors were more likely to have been upside down from an equity standpoint or encum-bered by financing packages that restricted their flexibility to react to the market.

And, quite frankly, the timing couldn’t be bet-

Vol. XIV, No. 4 July-August 2011

CONTENTS COMMUNITY SPOTLIGHT — 1

OUR RECENT TRANSACTIONS — 2

OUR RECENT TRANSACTIONS — 3

ODDS & ENDS — 4

THE SERVICE YOU DESERVE — 5

RESALE MARKET ANALYSIS — 6

LISTINGS AND SALES — 8

BUSINESS OF THE MONTH —14

MCDOWELL MOUNTAIN DEALS — 15

ABOUT THE PRESERVE — 16

ter. Even though new business formation is still well behind expectations, lower rentals and other types of incentives do appear to be attracting businesses that are considering relocating from other areas. With all the other advantages our area has to offer, a little added economic benefit should be all that’s needed to persuade more business owners to commit to a future that benefits both them

and us.

There’s one new business opening its doors in the Desert Canyon Center later this month that certainly has the potential to impact my personal life. It’s called Sclafani’s Pizza and, interest-ingly enough, it’s being developed by the current owner of Twisted Lizard, Greg Kruger.

As I understand it, Scalfani’s won’t be offering a dine in option. Its services are going to be limited to pick up and delivery.

(Continued on page 17)

2 Helene’s MMR Real Estate News/July-August 2011

The Spring Market was an exciting time to be selling real estate ….

Eagle Ridge 10265 E Bahia Drive 5BR/3.5 BA 2,933 SF

Spacious & Gracious with Wood Flrs and a Huge Resort Yard with a Flag-stone Patio, Sparkling Pool, Above Ground Spa & Surround Sound Too!

$410,000

Vermillion Cliffs 16396 N 109th Street

4BR/2.5BA 3,169 SF

Backing to a Wash and on a Cul-de-Sac Street, this Beauty, with a Mas-ter Bedroom on the First Floor, also has a Spacious Loft & 3 Car Garage!

$485,000

Just Some of Our Recent Sales in MMR !!!!!!!!!!!!!!!!

Cachet 16420 N TPP #`1123

3BR/2BA 1,659 SF

This Single Level Condo is Located on the First Floor & has a Great Room Plan w/2 Car Garage. Gated Commu-nity with Pool, Spa & Fitness Facility!

$218,000

Sunset Point 10482 E Pine Valley Drive

3BR/2BA 2,114 SF

Popular Great Room Plan Backing to a Wash with Mountain Views has a Den, Ceramic Flooring, Ceramic Tile Kitchen Counters & Tile Backsplash!

$365,000

Discovery Trails 10359 E Saltillo Drive

3BR/2BA 1,622 SF

Located on a Private Corner Lot with Upgrades including Granite Counters and Stainless Steel Appliances. Just Steps to the Community Rec Center!

$285,000

The Preserve 10347 E Raintree Drive

4BR/2.5BA 1,860 SF

This Spacious Plan rarely comes on the market. It has a Full Length Cov-ered Patio, a Fenced Pool, Synthetic Grass, Childs Play Set and a Gazebo!

$275,000

Sunrise Point 11221 E Butherus Drive 2BR+DEN/2BA 1,797 SF

Nestled High on the Hill and on a Cul-de-Sac Lot with Gorgeous Mountain Views! Turnkey Home w/Paver Stone Patio & in a Guard Gated Community!

$475,000

Sienna Canyon 10750 E Gelding Drive 3BR+DEN/2BA 2,551 SF

The Back Yard Sanctuary sits against a Private Wash and has a Full Length Covered Patio with Mountain & City Light Views. Travertine Floors Too!

$450,000

Trovas 11047 E Jasmine Drive 3BR+DEN/3.5BA 3,500 SF

This Remodeled Gem sits on a Corner Lot and in a Gated Community. Back Yard Paradise w/Putting Green, BBQ, Heated Pool, Spa & Mountain Views!

$631,000

Cimarron Ridge 11197 E Greenway Road

3BR+DEN/3BA 2,815 SF

Gorgeous Model-Like Home Backs to a Wash w/Mountain Views. Granite Counters, Stainless Steel Appliances, Hardwood Floors,. Guard Gtd Comm!

$639,900

Sienna Canyon 14195 N 107th Street 4BR+DEN/3BA 3,328 SF

Stunning Views from this 1/3 Acre Lot Surrounded by a Desert Wash with a Pebble Tec Pool, Firepit, Built-In BBQ and Custom Designed Landscaping!

$545,000

Cimarron Hills 10606 E Karen Drive

3BR+DEN/3.5BA 2,804 SF

Courtyard Entry in a Guard Gated Community, this Expanded Home has a Casita, Den & Bonus Room, Heated Spool & Built-In BBQ Entertainment!

$543,750

Our Feature Home


….and we’re anticipating that the fall will be just as fabulous !!!

Gated Community Mountain Views!

Trovas

11051 E Acacia Drive

3BR/4.5BA 4,169 SF

This Elegant, Executive Home is on a Private Corner Lot with an Entertainers Backyard! Enjoy the Mountain Views from the Heated Pebble Tec Diving Pool or the Sitting Area near the Kiva Fplc & Built-In BBQ. Three additional Fireplaces are inside! It’s Decked Out in Travertine Tile, Tumbled Travertine and Canterra Stone. Distressed Alder Cabinets grace the Cook’s Kitchen w/Sub-Zero Ref, Double Ovens and a Walk-In Pantry. The Children's/Guest Wing has its own Family/Play Room (or use as a Media Rm) w/Built-In Enter-tainment Center & each Bdrm has its own Bath. The Formal Den/Office is easily converted into a 4th Bedroom. Surround Sound Throughout. The Luxury Master Bath has a Glass Block Snail Shower & Tons of Stone! Call Me if you’d like to call this one “Home”!

$799,000

For Sa

le

The Summit 16838 N 106th Way

3BR+DEN/2BA 2,237 SF

Backing to a Wash with a Lush Yard, Pebble Tec Spa & Gorgeous Moun-tain Views. Remodeled Inside w/New Baths & Brazilian Hardwood Floors!

$450,000

Cimarron Hills 11219 E Beck Lane


Guard Gated Location on a Cul-de-Sac Street. Heated Pebble Tec Pool, Spa, Kiva Fplc, Built-In BBQ & Mountain Views! New Granite Countertops!

$599,900

Cimarron Hills 10959 E Kora Lane 4BR/2.5BA 2,787 SF

Move right in to This Executive Rental with a Split Floor Plan Located in a Gated Community. Landlord Pays for Htd Pebble Tec Pool & Spa!

$3,200/Month

Mirador 11059 E Acoma Drive


Backs to a Wash with a Heated Pebble Tec Pool & Spa, Kiva Fplc, BBQ, View Deck & Spectacular Mountain & City Light Views! In a Gated Community!

$775,000

Just Some of Our Current MMR Listings


Did you know that Scottsdale Airport can now quite legitimately be referred to as Scottsdale International Airport? A new

U.S. Customs and Border Pro-tection program allows the airport to receive flights from anywhere in the world (at least from Monday to Thurs-day). Interestingly enough, it’s also the only general aviation facil-

ity in Arizona providing direct access to Na-tional Airport in Washington DC. And just In case you’re curious, the facility is equipped with high tech biometric passenger screening technology. Jessica Knits, the lovely little yarn store in the Desert Canyon Center has been sold. Jessica Cooper, the original owner, is starting a family and has passed the mantle on to Tammy Barker who was a local Realtor for more than 20 years. It’s nice to know that there’s life after real estate. Please join me in wishing both of them the best of luck. Little Sunshine’s Playhouse is ex-cited to announce that they are ac-cepting new enroll-ments! Openings are filling quickly, so if you’re interested, please be sure to stop by for a tour and to reserve your child’s spot! Check out their ad on page 11. Legends Cadillac is a new advertiser (see page 12) and while that in itself might not be newsworthy, the fact that the CEO, the Finance Director and the Service Direc-tor are all MMR residents certainly is! Even

more importantly, they’re offering MMR resi-dents a $500 Loyalty Certificate if you bring the ad with you when you stop in to see their wares. Cool neighbors to know! Sadly, there have been two recent inci-dences here at The Ranch in which javeli-nas have been killed. And, unfortunately, it doesn’t appear that it’s the work of a single misguided individual because one was dis-patched by a pellet gun and the other by an arrow. Since simple decency and respect for fellow desert denizens is obviously not enough to deter some people from this sort of behavior, our HOA would like the perpetrators to know that harming these animals is actually a prosecutable offense. And they request that you call the police immediately at 480-312-5000 if you witness abuse of any sort, West World will be making another high profile change this summer. They will be demolishing the red barn that’s visible as you cross the bridge on TPP. The fate of this underutilized banquet facility, known as Brett’s Barn, was sealed by the dramatic costs required to address existing structural problems and to bring it into compliance with the Americans with Disabilities Act.

The 1st Annual Summer of Love Pub Crawl passed through MMR on the eve-ning of July 9th with 60 happy revelers on

board. Stops included West Addision and Armitage in DC Ranch, Temple Bar and Twisted Lizard in MMR and K. O’Don-nell’s. By all accounts, it was a huge success. For information about future events, contact Bella at [email protected].

With “Back to School” time rapidly ap-proaching, we thought it would be useful to remind everyone of the terrific re-sources available for students in our area. There’s Oxford Learning (480/383-8600) which is located just east of the intersection of 101 and Bell. They are offering tutor-ing, homework help and more for students starting at 3 years of age and con-tinuing through High School. Then there’s the Scottsdale Education Cen-ter (480/538-0828) located at 91st Street and Bell which offers tutoring, college admittance testing preparation classes and more for Mid-dle and High School students. And finally, there’s On-Track Tutoring (480/563-5588) located at 98th and Bell which offers tradi-tional tutoring, family support services for ADD/ADHD students as well as in home tu-toring! Each of these educational support centers offer something unique and are truly invaluable resources for today’s students. Give them a call to see how they can best support your student’s academic success!

Odds & Ends


I’m really pleased to be able to an-nounce that our Facebook page now has more than 750 “fans” and that it’s devel-oping into the cool forum for exchanging

news, information and opinions that I had al-ways envisioned.

It’s actually proven to be something of a godsend because, as wonderful as it is to have access to a tool like this newsletter to keep the community informed, the long lead times and

extended intervals between editions can sometimes become a source of frustration.

Facebook has allowed us to bridge that gap with those who’ve opted to become regular visitors. Why not take a moment to visit us at www.facebook.com/MMRHomes?

There were seven new pieces of HOA related legislation enacted this year and most of them just went into effect on July 20th. Please appreciate that the following is intended only as a brief summary of their content and it’s suggested that you either do additional research or contact the Home-owner’s Association directly for more infor-mation before acting on anything stated here.

That having been said, you can now audio or videotape HOA meetings. HOAs cannot un-duly preclude the use of open house signs or charge more than $400 for documents associ-ated with the transfer of home ownership. They can’t prohibit the front or backyard dis-play of those flags allowed by statute (although they can limit the number of flags

and the height of the pole) nor can they pro-hibit the circulation of political petitions (but they can restrict the hours of solicitation).

And although they can’t prohibit the display of political signs (as long as the aggregate di-mensions do not exceed nine square feet), they can limit the length of time they are dis-played and can insist that they are removed within 3 days after the election.

If you are interested in more detail, I suggest you visit our website for additional infor-mation and links to the actual legislation.

Did you know that the state legislature has actually banned Arizona cities from enacting residential fire sprinkler man-dates like those we have here in Scotts-dale? We’re not sure about the rationale but the action was taken at the behest of the Homebuilder’s Association of Central Arizona, the same folks who’ve opposed meaningful land reform for years. Just off hand, I’d say they’re not exactly the consumer’s best friend. Unfortunately, they do have extraordi-nary legislative clout. In any event, that’s just one more reason for people to select Scottsdale as the place to live. As if they needed one. It’s quite likely that the loan limit for FHA financing in Maricopa County will drop from $346,250 to $271,050 on Octo-ber 1st of this year. The change is still de-pendent on a congressional vote, but with the deficit apparently serving as the primary politi-cal hammer in this next election cycle, the likelihood is that this will pass.

The timing is somewhat unfortunate because FHA Loans currently represent one of the few

remaining financing options for buyers with moderate incomes and minimal down pay-ments and, as such, have fueled much of the recent recovery. In fact, sources indicate that roughly 25% of all the home sales closed in the valley during the 2nd quarter involved FHA financing.

Regardless of whether you feel that the gov-ernment’s strategy is constructive or not, the practical message for the consumer is clear. If you’re a buyer and have been considering using FHA financing, your flexibility regarding how much you can spend on a home may be about to take a dramatic drop.

And, if you’re a seller whose property is in the range most likely to be affected by the reduc-tion in limits (say $300,000 to $400,000), it may be time to get just a little more flexible in your negotiation posture because the pool of buyers for your property may soon shrink significantly.

More importantly, if you are a seller with a home in the price range most likely to be af-fected and were planning to wait till fall to put it on the market, you may be making a major mistake by continuing to wait. It would be best to get started now before the prospec-tive buyer pool shrinks and the time it takes to sell your home begins to lengthen again.


The Service You Deserve

This newsletter is printed on

Recycled Paper


Although the broader economic outlook continues to be exasperating, there are signs that the local real estate market is starting to stabilize and, in fact, may even be recovering a bit. I appreciate, of course, that this shift in our fortunes has yet to achieve universal acceptance. But I’m hoping that this article might help persuade some of our readers of the merits of our contention.

Actually, the process involved in shifting a market’s perspective is complex. And curi-ously enough, as Mike Orr, the valley’s pre-mier real estate market analyst and author of the Cromford Report observes, “For the most part, facts really do not exert much influence. People tend to believe what they want and that’s why prices may fall a bit further, regard-less of what the numbers indicate.“

The reason for the dichotomy between data and perception is probably no further away than the doorsteps of those media outlets which still believe that inducing anxiety is the

best way to sell papers or boost ratings. It would actually be refreshing to see them ana-lyze the information they collect rather than merely passing off unedited press releases as the equivalent of in depth reporting.

In fact, doing so might help reduce the whip-lash effect that’s created when the always gloomy Case-Shiller Index's threats of double dip national housing recessions (generally based on data that is antediluvian in this era of 24/7 reporting) are given the same status as Mike Orr’s recent report that the number of active listings in the valley represents just a 2.4 month supply (an amount which, by the way, suggests that we are quite probably already in transition from a buyer’s market to a seller’s). Just ask yourself if you’d buy a stock based on 90 day old data or if you’d insist on something a bit more current.

Fortunately for us, supply and demand actu-ally determines how local markets function. And the only real impact of inaccurate and

inefficient dissemination of data through the media is to slow the rate of transition.

The fact is that the transition actually began early this spring when the traditional seasonal demand was amplified and accelerated by several unanticipated factors. The extraordi-narily low mortgage rates were the biggest of these but the component that seems to have surprised most analysts was the degree to which investors embraced the opportunities created by our foreclosure morass.

In fact, the rate at which lender owned homes are being purchased has undercut most of the concerns that analysts had previ-ously expressed about the potential impact of the “shadow inventory” on the recovery proc-ess, and absolutely dispensed with the prem-ise that we have a glut of homes on the mar-ket (In fact, 2.4 months of inventory suggests we are closer to a shortage).

To quote Mike Orr again, “anyone who thinks (Continued on page 7)

The Resale Market, Analyzed

Mortgage Interest Rates

Conforming* Loans 30 Year…….4.375% 15 Year …...3.625%

3 Year ARM.…2.875% 5 Year ARM…2.750%

Jumbo* Loans 30 Year…….5.00% 15 Year …...4.375%

3 Year ARM……3.125% 5 Year ARM……3.375%

Rates effective 7-11-11 Fees vary by lender

All loans have Zero Points

*In Scottsdale, Conforming refers to loans up to $417,000 and Jumbo to larger amounts

Please call your lender

for Current Quotes!

The Key: SF = square feet

$/SF = Average sales price per square foot DOM = Days on Market

% Change = the change in the value per square foot since 12/31/2010

Please note that the overall totals for The Ranch would be the most statisti-cally reliable barometer because of the

larger sample size involved.

2011 Sales By Community-Through June 30th Community # Sold Avg Price Ave SF DOM $/SF % Change

Cimarron Hills 13 $606,058 3188 143 $190.10 -7.03%

The Preserve 10 $281,740 1847 69 $152.56 -3.64%

Arizona Vintage 8 $272,950 1663 93 $164.18 -8.81%

Cachet 8 $201,625 1456 149 $138.47 -12.21%

Desert Cliffs 7 $529,286 2905 110 $182.20 -2.96%

Discovery Canyon 7 $241,043 1784 146 $151.95 -1.71%

Cimarron Ridge 7 $747,986 3412 72 $219.22 6.87%

Discovery Trails 7 $241,024 1471 149 $163.90 -4.06%

100 Hills 7 $1,124,286 4544 185 $247.40 -7.78%

The Overlook 6 $349,417 2090 42 $167.19 -0.16%

Sienna Canyon 6 $548,333 3401 72 $161.23 -9.85%

Castle Chase 6 $330,625 1842 178 $179.48 -6.32%

Eagle Ridge 5 $408,880 3032 72 $134.85 -23.41%

Sunrise Point 4 $414,500 2070 38 $200.22 -6.64%

Sonoran Estates 4 $908,750 4054 63 $224.15 -2.40%

Arizona Highlands 3 $327,667 2127 170 $154.03 -5.93%

The Ridge 3 $240,333 1727 131 $139.16 -4.59%

Sunset Point 3 $373,333 2357 82 $158.42 10.36%

Panorama Point 3 $287,167 1892 51 $151.81 -8.80%

Montecito 3 $375,000 2660 244 $140.96 -10.44%

Trovas 3 $583,667 3208 221 $181.96 -9.80%

The Summit 2 $385,000 2581 8 $149.17 -17.02%

Vermillion Cliffs 2 $441,638 3134 125 $140.94 -18.06%

Armonico 1 $465,000 2994 266 $155.31 -13.90%

Mirador 0 Sonoran Fairways 1 $350,000 2077 43 $168.51 4.22%

The Ranch 135 $448,604 2505 115 $179.11 -3.87%

Revised MLS Reports indicate that there haven’t been any closed sales in Mirador this year


there’s still a "glut" is not living in the real world. Just ask anyone who is actually trying to buy a home right now. Competition is in-tense, and not just for bank-owned homes and trustee sales. It’s heating up for short sales and normal listings as well. If you are trying to buy a home that is at all desirable and is priced at market or below, expect mul-tiple bids. If you are a seller, then you only need to price realistically and your home will sell quickly”.

By the way, even though we may have tech-nically “reached bottom”, that doesn’t mean that we see any significant value recovery on the horizon. Not that I want to dampen any optimism but, at the moment, waiting for values to return to 2006 levels is only slightly more rational than incorporating a winning Powerball ticket in your retirement plan.

The best way to apply these observa-tions to our own community is to, once again, look at the numbers. At the end of last year, there were 104 homes on the mar-ket in MMR. However, If you count the num-ber of homes available in this newsletter, you’ll see that there are now just 54. And, if you divide that by the 50 homes that closed during May & June, you’ll find that we have just over 2.16 months supply on hand.

Better yet, for the first time in a long time, those supply numbers are actually beginning to have an impact on sales prices. The rate of decline at the end of April (as reported in our last edition) was about 5.83% but, if you check the chart on page 6, you’ll see that the “decline” has slipped to just 3.87% as of the

(Continued from page 6) end of June. As confusing as it might initially sound, the only way for a decline to go down is for prices to go up. The bottom line is that we’ve turned the corner.

I can actually offer a graphically simpler and considerably more personal way for you to see what’s happening. Regular readers will recognize that I generally display my available inventory on page 2 and my sales on the lower half of page 3 because, numerically speaking, that usually represents the proper proportions. In this edition, they are reversed!

In fact, the one thing that slowed my team’s activity the most over the last month or so was not the normal drop off of buyer activity that we experience during the summer months, but the shortage of new inventory coming onto the market.

There are a number of other reasons why we believe that conditions will con-tinue to improve as we enter the Fall and the most prominent of these is the chang-ing composition of the available inventory. If you review the graphs on page 13 prepared for us by Cromford Associates, you’ll find that the percentage of that inventory that’s made up of either lender owned or short sale prop-erties is now less than a third (33%) of the overall total.

While that wouldn’t ordinarily be much cause for excitement, it does mean that the totals are trending downward. In fact, if you look back to last November, you’ll see that the combined percentage was about 46%. And what’s even more significant is how well we are doing compared to the rest of the Greater Phoenix market area where 57% of the inven-tory is still “distressed” and there's no real

indication that the trend is reversing itself.

Even with “demand” now re-establishing itself in the marketplace, there are still three major factors that can stall our recovery. The first of those is sup-ply. Our inventory levels have now dropped so low that potential move-up buyers may not find the current selection enticing enough to draw them back into the market. However, if we do persuade the media to shift its mes-sage to reflect the progress that is actually being made, we should see more homeown-ers start to resume the traditional “sell first” pattern of move-up buying that would normal-ize the market. We already know they’re ea-ger to take their fingers off the pause button and pursue the plans they’ve had on hold but they still need some positive reinforcement to get the process started.

The second factor is the stability of mortgage rates. The rates shown on page 6 of this newsletter already illustrate some of the con-cerns. While the numbers for conforming loans (those under $417,000) have declined a bit in the last 60 days, jumbo loans have actu-ally moved higher.

Fortunately, that movement hasn’t really been significant thus far. But changes in the global financial picture (i.e. finding a viable resolution to the Greek economic crisis, re-solving our own debt-limit ceiling conflict, and having falling oil prices put more money back into the economy) could all lead to a gradual rise in the benchmark 10-year Treasury and correspondingly higher mortgage rates in the future. In other words, today’s trickle could become a tsunami.


The Resale Market, Analyzed (Cont’d)


Resale Activity at the Ranch HOMES CURRENTLY FOR SALE

Address Subdivision Model Price Sq ft Br Gar Pool

16420 N TPP #2026 Cachet Heritage $189,900 1338 2 1 N

16600 N TPP #2071 The Ridge Heritage $209,900 1329 2 1 N


10326 E Le Marche Dr Arizona Vintage Merlot $239,900 1347 3 2 N


10225 E Betony Dr Arizona Vintage Bordeaux $249,900 1478 3 2 Y

14874 N 103rd St The Preserve Brisas $249,000 2132 3+Den 2 N

16420 N TPP #2073 Cachet Monarch $269,000 1660 3 2 N

10292 E Caribbean Ln Discovery Cnyn $274,900 1451 3 2 Y

15088 N 102nd St Discovery Cnyn Sierra $279,000 1700 3 2 Y

10480 E Penstamin Dr Discovery Trails Sabino $292,900 1622 3 2 N

14960 N 102nd St Discovery Cnyn Scenic $299,900 1837 4 2 N

10489 E Star of the Desert Discovery Trails Sierra $314,000 1700 3 2 N

10354 E Morning Star Dr Panorama Point Primrose $319,900 1874 3 2 N

10337 E Star of the Desert Arizona Vintage Zinfandel $320,000 1603 3 2 N

10577 E Star of the Desert Discovery Trails Palo Verde $326,600 2364 4 3 N

10125 E Morning Star Dr Arizona Vintage Zinfandel $329,900 1604 3 2 Y

16600 N TPP #2048 The Ridge Monarch $349,000 1674 3 2 N

10321 E Star of the Desert Arizona Vintage Chablis $349,000 2211 4+Den 2 Y

16449 N 103rd Pl Eagle Ridge $369,000 1998 3 2 Y

11469 E Helm Dr Sunrise Point Estrella $379,500 1792 3 2 N

10607 E Autumn Sage Dr Castle Chase Nottingham $389,900 1881 3 2 N

11581 E Raintree Dr Sunrise Point Palo Verde $390,000 1534 2 2 N

11113 E Betony Dr 100 Hills Sevilla $416,995 2652 3+Den 2 N

10376 E Acoma Dr Sunset Point $419,000 2114 3+Den 2 N

10548 E Firewheel Dr The Overlook Ironwood $432,000 2613 4 3 Y

16838 N 106th Wy The Summit Aruba $450,000 2237 3+Den 2 N

16789 N 106th Wy The Summit Victoria $475,000 2511 4+Den 3 Y

10744 E Butherus Dr Desert Cliffs $519,000 2647 3+Den 3 Y

10334 E Bahia Dr Eagle Ridge Cholla $525,000 3462 5 3 Y

10470 E Conieson Rd Sonoran Fairways Ocotilllo $529,900 2976 5 3 Y

10763 E Redfield Rd Sienna Canyon Catalina $537,000 2738 4 3 Y

10832 E Bahia Dr Armonico Montana $545,000 2994 4 3 Y

10746 E Greenway Rd Cimarron Hills La Jolla $589,500 2285 2+Den 2 Y

11219 E Beck Ln Cimarron Hills Laredo $599,900 2787 3+Den 3 Y

11022 E Raintree Dr Desert Cliffs #6090 $610,000 3924 5+Den 3 N

11215 E Paradise Ln 100 Hills Antiqua $624,400 3497 3 3 N

11336 E Greenway Rd Cimarron Ridge Fronterra $624,900 2918 3+Den 3 Y

11122 E Greenway Rd Cimarron Ridge Laredo $734,900 2800 4 3 Y

11055 E Verbena Ln Trovas Medici $760,000 4065 4+Den 3 Y

11059 E Acoma Dr Mirador Serena $775,000 3424 3+Den 3 Y

11051 E Acacia Dr Trovas Medici $799,000 4102 4+Den 3 Y

11080 E Meadowhill Drive Sonoran Estates Carino $799,900 3,569 4+Den 3 Y

10670 E Redfield Rd Sonoran Estates Santana $825,000 3967 5 3 Y

10952 E Karen Dr Cimarron Hills Montilla $850,000 3911 3+Den 3 Y

PLEASE NOTE All of our Team’s listings and sales are shown

in BOLD, GREEN & UNDERLINED TYPE


Resale Activity at the Ranch (Cont’d) HOMES CURRENTLY FOR SALE


10694 E Redfield Rd Sonoran Estates Saguaro $870,000 4037 4+Den 3 Y

10983 E Bahia Dr Trovas Medici $929,000 4102 3+Den 3 Y

11489 E Paradise Ln 100 Hills Malaga $1,049,000 4471 3+Den 3 N

16132 N 110th St 100 Hills Andorra $1,125,000 3986 4+Den 4 Y

11530 E Winchcomb Dr Sonoran Estates Santana $1,200,000 4200 4+Den 3 Y

11494 E Caribbean Ln Cimarron Ridge Andorra $1,365,000 4,041 4+Den 3 Y

11451 E Penstamin Dr 100 Hills Cardona $1,599,000 4689 4+Den 3 Y

11503 E Paradise Ln 100 Hills Custom $1,945,000 5167 5+Den 4 Y

16229 N 115th Pl 100 Hills Custom $2,750,000 6149 4+Den 4 Y

*AWC (“Active with Contingencies”) generally designates a trans-

action where some aspect, other than the usual inspection and

financing contingencies, is still in need of resolution. We report

them with the pending transactions because we feel it’s a more

accurate representation of their status (i.e. pending with problems).

PENDING & AWC TRANSACTIONS Address Subdivision Model Price Sq ft Br Gar Pool


10211 E Le Marche Dr Arizona Vintage Chardonnay $199,000 1744 2 2 N

10119 E Tierra Buena Ln Arizona Vintage Bordeaux $214,434 1478 3 2 Y

10220 E Betony Dr Discovery Trails Coronado $219,900 1347 3 2 N

10431 E Raintree Drive The Preserve Palomino $229,000 1358 3 2 N

16420 N TPP #1067 Cachet Legacy $235,500 1546 2+Den 2 N

10324 E Caribbean Ln Discovery Cyn Catalina $240,000 1504 3 2 N

10399 E Hillery Dr The Preserve Brisas $249,900 2132 4 2 N

10204 E Caribbean Lane Discovery Canyon Catalina $254,900 1504 3 2 N

16600 N TPP #2033 The Ridge Monarch $255,000 1674 2+Den 2 N

10256 E Rosemary Ln Eagle Ridge $269,000 2084 4 3 N

15104 N 102nd St Discovery Cnyn Mtn View $274,900 2197 4 2 N

10712 E Penstamin Dr The Overlook Primrose $280,000 1679 3 2 N

10369 E Texas Sage Ln The Preserve Avalon $283,000 1702 3 2 Y

10401 E Helm Dr Sunset Point #1908 $285,000 1908 3 3 N

10330 E Karen Dr Discovery Cyn Mtn View $285,000 2197 4+Den 2 N

10294 E Raintree Dr The Preserve Brisas $329,000 2132 4 2 Y

10664 E Penstamin Dr The Overlook Mesquite $349,900 1973 4 3 N

10601 E Sheena Dr Sonoran Fairways Palo Verde $355,500 2310 4 2 N

10775 E Caribbean Ln Cimarron Hills Valencia $370,000 2369 3 2 N

10368 E Verbena Ln Montecito Santa Barbara $370,000 2770 4 3 N

10524 E Acacia Dr Arizona Highlands Picacho $380,900 2395 4 3 Y

10382 E Acoma Dr Sunset Point $384,750 3064 5 3 Y

11460 E Helm Dr Sunrise Point Palo Verde $385,000 1667 2+Den 2 N

10463 E Meadowhill Dr Sonoran Fairways Cholla $399,000 3466 4+Den 3 N

10628 E Penstamin Dr Panorama Point Ironwood $399,900 2758 5 3 N

11489 E Blanche Dr Cimarron Ridge Montoro $419,000 2621 2+Den 2 N

10538 E Morning Star Dr Panorama Point Ironwood $429,900 2711 4+Den 3 N

10750 E Gelding Dr Sienna Canyon Borgata $450,000 2551 3+Den 3 N

11221 E Butherus Dr Sunrise Point Estrella $475,000 1797 2+Den 2 N

11001 E Betony Dr 100 Hills Monterey $475,000 2648 2+Den 2 N


Resale Activity at the Ranch (Cont’d) PENDING & AWC TRANSACTIONS (CONT’D)


10991 E Winchcomb Dr Sienna Canyon La Palma $499,900 2936 4 3 N

16697 N 108th Wy Armonico $500,000 3596 5 3 Y

10787 E Palm Ridge Dr Sienna Canyon La Palma $534,900 2936 4 3 Y

14415 N 106th Pl Mirador Ladera $540,000 3674 4+Den 3 Y

15279 N 105th Wy Cimarron Hills Sevilla $550,000 2629 3+Den 2 Y

10342 E Acacia Dr Montecito Presidio $550,000 3642 6+Den 2 Y

15072 N 114th Wy Cimarron Ridge Sevilla $599,000 2929 3+Den 2 Y

10902 E Gelding Dr Sienna Canyon Talavera $599,000 3801 5+Den 3 Y

10964 E Karen Dr Cimarron Hills Andorra $609,900 3642 5 3 Y

16575 N 109th Wy Trovas Medici $619,777 4065 4+Den 3 Y

11145 E Rosemary Ln 100 Hills Andorra $635,000 3737 4+Den 4 Y

11317 E Greenway Rd Cimarron Ridge San Rafael $649,000 3726 5+Den 2 N

16377 N 109th Wy Trovas Verona $679,000 2826 3+Den 3 Y

16764 N 111th St Trovas Dante $724,900 3297 3+Den 3 Y

16305 N 109th Wy Trovas Alessi $759,000 3362 4+Den 2 Y

11065 E Rosemary Ln 100 Hills Palma $799,900 3103 3 3 Y

13915 N 110th St Sonoran Estates Santana $850,000 3658 4+Den 3 Y

16046 N 115th Wy 100 Hills Custom $1,200,000 6174 5+Den 4 N

11397 E Betony Dr 100 Hills Cardona $1,300,000 5266 4+Den 3 Y

11549 E Penstamin Dr 100 Hills Custom $3,495,000 6281 4+Den 3 Y

CLOSED SALES (MAY & JUNE) Address Subdivision Model Price Sq ft Br Gar Pool


10234 E Saltillo Dr Discovery Trails Cholla $185,000 1093 2 2 N



10337 E Star of the Desert Arizona Vintage Zinfandel $236,500 1603 3 2 N

10320 E Penstamin Dr Discovery Trails Catalina $237,500 1504 2+Den 2 N

10423 E Saltillo Dr Discovery Trails Sabino $245,000 1622 3 2 Y

10127 E Tierra Buena Arizona Vintage Zinfandel $245,600 1604 3 2 Y

15120 N 102nd St Discovery Cnyn $250,000 1622 4 2 N

10524 E Firewheel Dr The Overlook Ocotilllo $255,000 1972 3 3 N

15988 N 108th St Castle Chase Stirling $268,000 1701 2+Den 2 Y

10347 E Raintree Dr The Preserve Durango $275,000 1860 4 2 Y

15972 N 106th Wy The Overlook Primrose $280,000 1679 3 2 N

14883 N 103rd Pl The Preserve Avalon $280,000 1702 3 2 Y

10405 E Texas Sasge Dr The Preserve Avalon $283,500 1702 3 2 Y

10556 E Autumn Sage Dr Castle Chase Carlisle $300,000 1812 3+Den 2 N

10482 E Morning Star Dr Panorama Point Primrose $315,000 2081 4 2 N

10384 E Raintree Dr The Preserve Brisas $315,000 2132 4 2 N

10528 E Salt Bush Dr The Overlook Mesquite $320,000 1972 3+Den 3 N

10603 E Firewheel Dr The Overlook Mesquite $325,000 1972 4 3 N

15095 N 102nd Wy Discovery Cnyn Skyview $325,000 2357 5 3 N

10804 E Betony Dr Castle Chase Nottingham $330,000 1881 3 2 N

10558 E Karen Dr Cimarron Hills La Jolla $395,000 2374 3 2 Y

10891 E Mirasol Cir Vermillion Cliffs $398,275 3098 4 3 Y

10273 E Bahia Dr Eagle Ridge Ocotilllo $399,500 2933 5+Den 3 Y


Resale Activity at the Ranch (Cont’d) CLOSED SALES (MAY & JUNE)


10304 E Rosemary Ln Eagle Ridge Cholla $399,900 3466 5 3 Y

10297 E Bahia Dr Eagle Ridge Cholla $405,000 3462 5 3 N

16448 N 103rd Pl Eagle Ridge $430,000 2367 4 2 Y

10343 E Acacia Dr Montecito Castillo $430,000 3089 5 3 Y

10591 E Firewheel Dr The Overlook Ironwood $433,000 2816 4 2 Y

11082 E Raintree Dr Desert Cliffs #6040 $499,000 2351 4 3 Y

11339 E Beck Ln Cimarron Hills Laredo $499,000 2788 4 3 N

10948 E Cosmos Cir Trovas Verona $510,000 2826 4 3 Y

10983 E Winchcomb Dr Sienna Canyon La Palma $515,000 2936 4 3 Y

14195 N 107th St Sienna Canyon Marbella $545,000 3328 4+Den 3 Y

11405 E Helm Dr Sunrise Point Papago $560,000 2767 3 2 N

10927 E Greenway Rd Cimarron Hills Laredo $569,000 2787 3+Den 3 N

10677 E Butherus Dr Desert Cliffs #6080 $582,500 3,498 4+Loft 3 Y

10998 E Raintree Dr Desert Cliffs $620,000 3924 6 3 Y

10959 E Winchcomb Dr Sienna Canyon Talavera $630,000 3801 5+Den 3 Y

11047 E Jasmine Dr Trovas Dante $631,000 3500 3+Den 3 Y

11527 E Caribbean Ln Cmarron Ridge Montilla $780,000 3857 4+Den 3 Y

13866 N 106th Wy Sonoran Estates Saguaro $875,000 4017 4+Den 4 Y

11508 E Caribbean Ln Cimarron Ridge Montilla $885,000 3,749 3+Den 3 Y

11551 E Le Marche Dr 100 Hills $940,000 5070 5 3 Y

11567 E Caribbean Ln Cimarron Ridge Montilla $950,000 3951 3+Den 3 Y

16495 N 113th Wy 100 Hills Custom $1,250,000 4084 3+Den 3 N

15720 N 115th Wy 100 Hills Malaga $1,250,000 4836 4+Den 3 Y

11488 E Paradise Ln 100 Hills Custom $1,375,000 5032 5 3 Y

16265 N 115th Pl 100 Hills Custom $1,400,000 5222 4+Dens 3 Y

UNFURNISHED RENTALS Address Subdivision Model Price Sq ft Br Gar Pool


10496 E Penstamin Dr Discovery Trails Catalina $1,500 1504 3 2 N

10290 E Raintree Dr The Preserve Avalon $1,600 1702 3 2 N

10350 E Teirra Buena Ln Panorama Point Mesquite $1,700 1548 2 2 N


10833 E Salt Bush Dr Castle Chase Helmsley $1,975 1915 2+Den 2 Y

10329 E Star of the Desert Arizona Vintage Chablis $2,000 2316 4 2 N

10528 E Salt Bush Dr The Overlook Mesquite $2,000 1972 3 3 N

10370 E Acoma Dr Sunset Point #1908 $2,200 2114 3+Den 2 Y

10363 E Pine Valley Dr Sunset Point $2,400 2159 4 3 Y

14728 N 114th Pl Sunrise Point Papago $2,425 2767 3+Den 2 N

10449 E Helm Dr Sunset Point $2,500 2159 4 2 N

11183 E Beck Ln Cimarron Hills Parada $2,800 2911 5 3 N

15961 N 111th Wy 100 Hills LaJolla $2,850 2310 2+Den 2 N

10264 E Acacia Dr Montecito Santa Barbara $2,900 2770 4+Den 3 Y

10960 E Kora Ln Cimarron Hills Escalante $3,100 3375 5 3 Y

10959 E Kora Ln Cimarron Hills Laredo $3,200 2787 4 3 Y

11067 E Winchcomb Dr Sienna Canyon Catalina $3,200 2738 4 3 Y

11508 E Caribbean Ln Cimarron Ridge Montilla $4,200 3749 3+Den 3 Y

11106 E Evans Rd Sienna Canyon Talavera $4,500 3801 4+Den 3 Y



The third concern is the problems resulting from the reforms in the appraisal process. This particular component of the financing process has been singled out for criticism because of the outsized role that appraisals may have played in the upward part of the inflationary spiral. The result is that the indus-try has grown so conservative that risk taking and the use of either sound judgment or common sense are now actively discouraged.

Quite frankly, if appraisers were truly insu-lated from outside influences, the 2-3 month supply of housing inventory we now have should already have started to push prices higher. Instead, the reforms seem to have merely swapped one outside pressure for another and the “can you top this” philoso-phy prevalent during the boom, has now been replaced with a “how low can you go” men-tality intended to prevent any possibility of a potential loss no matter how absurdly small the risk might be.

Unfortunately, appraisals are not a science. They are a market-related opinion, and some flexibility is required or the market won’t op-erate as It should. If we don’t restore some balance to the appraisal process, we risk crip-pling the ability of lenders to finance the re-covery. There is simply no such thing as a healthy market without any risk.

One of the best “foreclosure” stories I’ve heard in the last few months is the one from Collier County Florida that pretty much turned the entire process on its head. It seems that a Naples area couple BOUGHT A HOUSE FOR CASH a few years ago only to have Bank of America try to fore-close on them anyway last year. A mistake? Obviously! And one that sounds like it should be pretty easy to straighten out. However, it apparently took several months and a trip through the court system before a judge fi-nally ordered BofA to both cease and desist and pay the couple’s legal fees.

Unfortunately, despite the court order, the bank never actually came up with the money. The couple, who were quite justifiably aggra-vated by this time, obtained a levy against the bank and then showed up at a local branch of Bank of America with the sheriff, the media and a moving truck.

Apparently, having armed deputies on the premises is the key to getting BofA to listen and play by the rules. The bank quickly cut the check rather than risk having its property seized. Sometimes turn about is fair play!

(Continued from page 7)

Market Analysis (Cont’d)

The data used to create these reports was obtained from public records and extracted under license from the Arizona Regional Multiple Listing Service, Inc (ARMLS). Cromford Associates LLC, Re/MAX Fine Properties, Helene’s Team and

ARMLS expressly disclaim and make no representations or warranties of any kind, whether express, implied or statutory, as to the accuracy of the data used or the merchantability or fitness for any particular purpose. This report is copyrighted

in 2010 by Cromford Associates LLC.

Jay Butler, Director of Arizona State’s Real Estate Studies program, has retired after spending the last 40 years analyzing the valley’s housing market. In an age when media hype is considered a valid substi-tute for reporting and analysis, Jay was a resolutely “by the numbers” kind of guy who could be counted on for an honest opinion supported by facts. This, unfortunately, didn’t always make him good copy. The media (as

well as the occasional Realtor ) were some-times disappointed when he wouldn’t either declare the sky to be the limit or, conversely, that the bottom had been reached.

Although he wasn’t always correct, true pro-fessionals soon learned to respect his work and to value the fact that his analyses were presented without an agenda — a rare thing here in the 21st century. We wish him good luck in retirement.


only the Gateway to the West but also the pork steak capital of the world (who knew?) where his father owned a meat processing plant that sold directly to area restaurants and hotels.

As reputation of the plant grew, friends and family began to ask if they could purchase the incredible cuts of meat that they were selling commercially, and eventually the demand became so great that the prototype for the Bull Market was born in Chesterfield, MO.

Fortunately for us, Paul and Clint Oliver, his good friend and colleague, eventually decided to move their families to Scottsdale, where they were pleasantly surprised to find that there wasn’t already a truly great butcher shop servicing the community.

Although their course was now quite clear, the actual “build-out” of the market proved to be a formidable undertaking. However, they did eventually overcome all the obstacles and, when you do stop by, Paul and/or his lovely wife, Jeanne, would be happy to give you a tour of the state of the art facility they cre-ated.

Business of the Month By the way, before you get too excited about the prospect of hanging out in a super cold environment on one of our hot August days, I should probably explain that it’s really only the processing room that’s kept frigid. The retail section of the Bull Market is kept at a rela-tively balmy the your perfect choice for din-ner.

Incidentally, it’s not just the great cuts and the amazing quality that sets The Bull Market apart from the butcher departments of gour-met grocery stores. It’s also the fact that they age and vacuum-pack their meats. In fact, the latter step actually extends the shelf life of their meats about three to five times longer than would be the case if they were pack-aged loosely in paper or plastic. And The Bull Market is the only retail shop in the Valley that goes that extra mile for their customers!

Right about now, you’re probably thinking that all this quality and care means an appro-priately premium price. Well, let’s put aside those concerns. The long standing connec-tions that Paul and Clint have in the meat business actually enables them to price their products quite competitively.

So, here’s my dining tip for the summer. Forget those fast-food and mass market dis-count stores when you’re looking for quick dining alternatives. Just stop in to The Bull Market and pick up an incredible meal waiting to be placed on your grill.

The Bull Market is located on the southwest corner of Bell Road just to the west of Route 101. In fact, It’s actually in the same building as two other local favorites, Amore Sports Grill and Bagel Nosh.

The Bull Mar-ket is not only one of the lat-est entries on the local retail scene, it may be one of the most interest-

ing as well.

The shop is, quite simply, a 21st century re-thinking of the classic butcher shop and, based on what we’ve seen thus far, it seems destined to become a required destination for those who take their barbeque seriously. What seems to make the concept work is the way they’ve combined the skills and crafts-manship of an era when the preparation of meat wasn’t the assembly line process it is today, with a management philosophy that demands that they exceed the contemporary consumer’s standards for cleanliness and quality.

The shop not only provides an extensive se-lection of beef, pork, lamb, veal and poultry products, but also offers one-of-a-kind cuts that are rarely, if ever, seen here in Arizona and which are sure to make your party an event to remember!

They also offer their own unique brand of seasonings designed to enhance your enjoy-ment of their meats as well as recipes and guidelines on preparation, and even a selec-tion of beer, wine, cheese and specialty meat items, like meat stuffed ravioli.

Interestingly enough, the market you see today is really the culmination of a lengthy evolutionary process. Co-owner, Paul Savage, grew up in St. Louis — which it seems is not


If it wasn’t for the precise geographical targeting of McDowell Mountain Deals, it might easily disappear among the clutter of other “deal sites” like Groupon, Living Social, and Local Deals that have become popular in the last few years. These sites, for those few remaining souls who have yet to be exposed to this burgeon-ing phenomena, provide a novel way for busi-nesses to market deeply discounted services and products to a pool of potential customers that they might not otherwise be able to reach. The process is relatively simple, a retailer or service provider simply approaches the “deal site” with a proposal that’s “almost too good to be true” (in order to qualify, it generally has to involve a discount of at least 50% from normal retail). The deal site reviews the pro-posal for salability and, theoretically, the pro-vider for reliability, refines the marketing ap-proach and then promotes the opportunity to its data base of subscribers. These subscrib-ers then have the opportunity to secure the product or service by purchasing a coupon or certificate that they can exchange at the pro-vider’s place of business. The advantage for the subscriber/customer is obvious. Their “subscription” is free and they’re purchasing something that might not otherwise be available to them at such an extraordinary discount. The retailer/service provider, who may or may not be paying the site for the service, is offer-

www.McDowellMountain.com worth it and never make use of the certifi-cate. In fact, some restaurants report that only 60% of the certificates are ever used. What makes McDowell Mountain Deals more valuable for local businesses is its commit-ment to promoting those businesses located in the vicinity of the McDowell Mountains (from Shea in the south to Cave Creek Road in the north) to local residents. And what makes it unique from the con-sumer’s perspective is that there’s no need to purchase a certificate or coupon. All that’s required is that they subscribe to the site and register for the deal before it runs out. Once they do, they receive a confirmation that they can take to the business and redeem. That’s it! There’s absolutely no up–front pur-chase required. There will, however, be some limits (i.e. one per household, dates of expira-tion, etc) but nothing that should cause a con-sumer any pause. The organization’s initial goal is to offer at least one new deal a week – and as more businesses join the program, to increase the frequency accordingly. They are also intend-ing to offer local businesses a way to offer ongoing promotions to their subscriber/members, even if they are not currently in-volved in offering a “special deal”. McDowell Mountain Deals was developed and is operated by local residents who are committed to making certain that the partici-pating vendors are reputable and responsive, and that all offers are both valid and valuable. Why not check out their site now at www. mcdowellmountain.com and sign up for their program. They expect to be operational later this month.

ing what is commonly known as a “loss leader” to draw new customers to their place of business with the hope that they’ll either purchase other products during their visit or return again in the future. The business also gets a share of the amount that the consumer paid the site for the coupon or certificate. The site profits by keeping a portion of the money paid for the coupon purchase.

When it works properly, the process can be a win-win-win for everyone involved but, of course, like every other situation in life, the concept has potential “shortcomings”. One of those shortcomings is the fact that the sites usually target regional markets with their promotions and depend on the con-sumer to sort through the opportunities pre-sented to them. While that approach does improve the return for the site itself, most of those consumers who would travel 20 miles for one great deal, probably won’t return to that same outlet to buy products that can be obtained just as cheaply in their own areas. At the same time, there are those consumers who buy the certificate only to decide that, when gas and time are factored in, it just isn’t


The Tour de Scotts-dale will be returning to our area again on Octo-ber 2nd of this year and, while that may seem a bit far away right now, it’s actually been on the minds of the McDowell Sonoran Conservancy for quite a while. The reason for our focus on the event is be-cause the Tour helps celebrate both The Pre-serve and its surrounding communities while simultaneously helping to support the MSC and its mission — to create the nation’s larg-est urban land preserve and to promote pres-ervation, environmental stewardship and the protection of the diverse desert ecosystems found in the McDowell Mountains. Actually, the Tour, which was first held in 2004, not only raises awareness of the McDowell Sonoran Preserve and the goals of MSC, it also helps raise funds to achieve those goals—a vital activity since MSC relies largely on charitable contributions to fund its activities. The formal racing program begins with the Criterium on September 24th at Canyon Vil-lage. The 1-kilometer (6/10 of a mile) “Crit” is a short technical closed course race with a degree of speed and intensity appreciably higher than most traditional bike races. It’s spectator-friendly and adds another level of excitement to the traditional competitive cy-cling program. The event is produced by the White Mountain Road Club and also includes kids races, a Family Fun Ride and a racing expo that enhances its family-friendly theme. The more traditional races follow on October

2nd and about 1,500 cyclists from around the Valley and the nation are expected to com-pete in the 8th annual Tour de Scottsdale. The ride, which kicks off from DC Ranch’s Market Street, is a 70-mile tour around The Preserve. As part of this year’s efforts to make the pro-gram more attractive to a greater number of participants, there’s a new 30-mile “mini

tour” that includes some of the challenging climbs of the 70-mile route but is geared more toward novice cyclists and a new loca-tion for the finish line (the corner of Thomp-son Peak Parkway and 90th Street) which will better accommodate spectators. There are also more family friendly opportuni-ties like the MSC Walk, Run & Roll that’s be-ing held to honor the MSC’s 20th anniversary and a Family Fun 5K that’ll attempt to cele-brate everything that makes The Preserve and its surroundings so special. This latter event will leave from the Market Street area at 8 AM and will be staged along the DC Ranch trail system. Participants will be able to simultaneously take part in a desert scaven-ger hunt conducted by MSC volunteer stew-ards and, at the finish, MSC Nature Guides

will lead desert games and activities including a desert trivia game, a Mesquite painting sta-tion, a desert origami station, plant weaving, face painting, desert musical instruments, and wildland safety rides with the Scottsdale Fire Department. The event is free, although we are encouraging donations of $20 per family to support MSC’s good works. We hope that you and your family are able to attend this fantastic event and to help us celebrate MSC’s 20th anniversary. By the way, if you are interested in doing more than attending the events, there are volunteer roles available at both the Crit and Tour. Lend-ing a hand at the events may include staging athletes or helping keep the cyclists hydrated on the course. Volunteer shifts will vary from first thing in the morning until early evening. For additional information, please visit www.mcdowellsonoran.org or “Like” the Tour de Scottsdale and MSC on Facebook.

See you at the Tour! This feature was contributed by MMR area resident Jace McKeighan. Jace is a volunteer steward with the McDowell Sonoran Conser-vancy and a partner in the law firm of Dicarlo,

The McDowell Sonoran Preserve


However, even though the two establish-ments will operate independently, Greg is still considering whether it might be possible to pull off one small bit of synergistic wizardry by having the delivery team from Sclafani’s coordinate some pick-ups at Twisted Lizard. Personally, I hope he can work it out because It would certainly expand the “delivery food” options for the community.

By the way Greg, if this works out for you (and assuming that you’re still enjoying the restaurant business at the time), please re-member that the Chinese take-out idea has always had a enthusiastic following.

Elsewhere in the retail arena, we’re pleased to report that Ric Newman has now formally opened his State Farm Insur-ance office in the Desert Canyon Center. Moreover, he’s quite pleased to have re-ceived permission from MMR’s Board of Di-rectors to display the red and white “State Farm” sign on the premises.

Meanwhile, in a move that might ini-tially seem to contrast with our extraordi-

(Continued from page 1) nary things are happening this summer theme, the golf club (formerly known as the Sanctuary) has closed its doors. Fortu-nately, the reason has nothing to do with ei-ther seasonal lethargy or economic distress. It’s closed because they’ve just launched a $1 million makeover that will lengthen the course to more than 7,000 yards and improve its playability. Best of all, when the project is completed (presumably in October) it will have a new name, the McDowell Mountain Golf Club.

I think that we owe Phil Mickelson and his agent, Steve Loy, an effusive “thank you” for the added value and increased recognition they’re bringing to the community.

Incidentally, I understand that there are still more changes yet to come. Rumor has it that a major rehab of the clubhouse is on the drawing board for next spring and, assuming that things go as planned, we could end up with a facility that rivals that of the Grayhawk Golf Club on Thompson Peak Parkway. We hope to be able to publish some of the draw-ings once the design work is done.

Another project that’s moving forward,

in spite of the summer doldrums, is the conversion of WestWorld into a 21st cen-tury entertainment venue. General Manager Brian Dygert received a 5-2 endorsement from the City Council for his proposed $33 million funding and implementation plan at the council meeting on July 5th.

The next step in the plan is to enlarge, en-close and air condition the existing Equidome structure, while transforming it into the state-of-the-art Tony Nelssen Equestrian Center. The artist’s rendition of the center on the front page was provided to us by Populous, Inc., the architectural firm engaged to exe-cute the project, and should help give you an idea of the campus-like feel of the facility they are hoping to create. I expect to have more photos available on line by the time you receive this newsletter.

Although Scottsdale will be issuing a bond to fund the project that will obligate the city to pay an additional $2.5 million in debt service each year, the project is eventually expected to be a major revenue generator for the city.

Moreover, roughly $600,000 of that annual


Spotlight (Cont’d)


Incidentally, as optimistic as I am about the over all prospects for the market at this point, I can’t help but believe we’d be further along the path to recovery if our elected representa-tives would just stop fixing the system. In fact, if anything is going to kill the budding recovery, it’s all the help we’re getting.

Instead of the government doing what they can to make it easier for responsible borrow-ers to obtain financing and thereby stimulat-ing the economy, they seem intent on making it harder for virtually everyone to move for-ward constructively.

In the name of reform we now have to con-tend with appraisals that seem designed to impede even normal sales, caps on FHA mortgages that reduce the number of buyers able to purchase a home and the newest pro-posal being considered by financial regulators


Service (Cont’d)

LOOKING BACK AT THE RANCH

Just 5 Years Ago* July/August 2006 — David Richter of Gemcor Homes unveiled his plan to de-

velop the 7.5 acre site adjacent to our Discovery Canyon com-munity that he had bought at an ASLD auction. Circle K hosted a neighborhood meeting to out-line their proposal for develop-

ing the site on the SW corner of Bell & TPP. The Windgate Crossing Shopping Center had just received a 7-0 endorse-ment from the Development Review Board and both the Scottsdale Auto Salon and Chase Bank were placed on the Board’s agenda for their next meeting. After having been delayed by the death of the Project Manager for Shasta Industries, the Aquatic Center was planning on an August opening. Despite continued media hype, the residen-tial resale market had already begun to flatten out. However, it wouldn’t actually turn south for another six months.

About 10 Years Ago* July/August 2001 — The MMR Home-owners Association had just voted to ac-quire the “Information Center” (a.k.a. the McDowell Center) from Sunbelt Holdings. Caffe Portobello had just hired Ed Ellis, a sleight of hand magician, to entertain at their “Wednesday is Family Night” pro-gram. The interest rate on 30 year mort-gages was 7.25% and the market had es-sentially been flat for the last two quarters. * As gleaned from our newsletter archives

— the requirement that all buyers have 20% down in order to obtain financing for a home. If this one passes, we can probably say good-bye to the housing industry as a viable com-ponent of our economic system because the first time buyer will soon become nothing more than a fading memory.

Rather than reforming the abuses in the sys-tem by taking on the banking lobby and mak-ing lenders financially responsible for the risk in their portfolios, our regulators seem to have concluded that punishing aspiring home-owners by eliminating their access to financ-ing is a better option. The premise seems absurd but that’s the track we’re on.

One of the potential barriers to being a landlord has disappeared — to the relief of virtually everyone. The IRS has finally re-pealed the rules that would’ve required land-lords and other small businesses to track tax identification numbers for any vendor that might ultimately be paid more than $600 in a given year. In fact, it would have meant that everyone from your landscaper to APS would’ve needed to receive a 1099 each year.

Of course, this relatively popular retreat by the IRS means that the income reporting loophole for cash businesses will probably remain alive and well until cash itself finally morphs into some form of an electronic data transfer.

In any event, with this onerous requirement behind us and the market beginning to show signs of meaningful improvement, it’s time to consider purchasing that investment property for your portfolio. Call me and let me show you some of the exciting opportunities that are available.

Tried Yoga Yet? Classes are held at the Community Center on Para-dise Lane (next to the big

pool) every Friday from 10 to 11 a.m. The very “hands on” instructor is Leslie Allsttrup and the small congenial classes employ the Restorative Method that should be easy for anyone to manage, even if they’ve never tried yoga before. The at-mosphere is casual and friendly and the classes are only $10 each. They’re even offering a first time visitor’s special of $5 this summer. You can reach Leslie at 602-996-6732 or at [email protected].


Spotlight (Cont’d) alternatives.

The Board also considered a request by the owners of Twisted Lizard to endorse their application to the City of Scottsdale for an entertainment permit. Although the request ultimately did receive unanimous support from those in attendance, there was an ex-tended preliminary discussion about the need to carefully monitor the volume of the per-formances.

The key financial move made by the Board during this period was the decision to adjust their expectations regarding what percentage of past due fees may actually be recoverable. It was ultimately decided that a 50% antici-pated rate of recovery was far more practical than the 100% assumption that they had been using thus far and the community’s bad debt reserve was raised accordingly.

The board also voted to approve a revised and expanded palette of colors that can be used when repainting the exteriors of our homes.

The Scottsdale Transportation Commis-sion has reversed its position again re-garding the designation of truck routes and Thompson Peak Parkway will now be on its list of formally designated routes. Apparently, the commission wasn’t im-pressed by the input they received regarding community impact and safety concerns.

The ultimate decision as to what streets will be included is in the hands of the much more politically accessible City Council, and they’re expected to consider the proposal at either their August or September meetings. So, if you wish, comments on the issue can be e-mailed to [email protected].

Ice Den did, in fact, just break ground on th e i r own rather impres-sive expansion plan and that they’ll be bus-ily engaged in construction throughout the summer months as well.

They expect to complete the project, which will include the addition of a third ice surface that can be used (during the off season) to host other indoor sports, trade shows or exhi-bitions, by this November.

The MMR Board of Directors has also been quite active and, during their last two monthly meetings have taken several steps that should help to protect and shape our community.

Personally, I think that their decision to imple-ment an aggressive program to protect the community from wildfires is way at the top of the list. The plan, which will take two years to roll out in its entirety, involves clearing and/or cutting back vegetation in the NAOS areas to the maximum extent allowable under city and state regulations.

The Board has also been considering a re-quest by the McDowell Mountain Market-place to erect a 10’ x 14’ sign on a traffic is-land adjacent to Chase Bank. Although recent sentiment has been running in favor of assist-ing commercial ventures as much as possi-ble, the roadway in question also serves as the main entrance to The Ridge condomini-ums and the Board has elected not to act until that sub association has time to review

The opinions expressed in this newsletter do not necessarily represent those of RE/MAX Fine Properties. Similarly, neither articles nor adver-tisements should be construed as endorsements of any product, person, company or service.

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WebPostscript -This symbol indicates that more informa-tion on this subject is posted on our companion website. Just visit www.MMRHomes.com and click on the “my

newsletter” selection in the menu box on the upper left. If you scroll down the page, you should see a number of additional “Files” for review.

Helene can be reached by e-mail at

[email protected]

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obligation will come directly from a desig-nated portion of the hotel bed tax we voted for last year, and another $300,000 will be covered by direct contributions from users like the Arabian and Quarter Horse Associa-tions. The balance, although obviously not guaranteed, should actually be reasonably easy to generate once we’re able to host events all year round in our new climate con-trolled facility. In fact, its actually not unrea-sonable to believe that once the venue is completed, it might be capable of helping to fund projects like the Desert Discovery Center and the Museum of the West.

However, the next project on the wish list for the MMR area is probably the construction of a new multi-purpose center at WestWorld to replace the existing (and marginally service-able) exhibition tent. Interestingly enough, this project got a significant boost at that same July 5th meeting when the City Council agreed to submit an application (to the same federal program that will be subsidizing the golf course improvements) for money to cover the initial project design effort.

And, while all this is going on, the Stagecoach Gap theme park idea that’s been proposed for a city-owned forty acre tract on the north side of Bell Road at 94th Street seems to be inching forward as well. In fact, rumor has it that they may have already surmounted the most difficult hurdle and secured private financing for the project. Can’t wait to hear confirmation of that fact.

And, if all that wasn’t exciting enough, we shouldn’t lose track of the fact that the


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