Legacy Cove is a new subdivision of single family homes developed by Sonora West Development a builder of some of the finest custom luxury homes in exclusive neighborhoods throughout Arizona. The subdivision will feature 19 semi-custom homes starting in the low to mid $1.0 million. Located near DC Ranch in North Scottsdale at the corner of 94th Street and Union Hills.
This beautiful single level home overlooks a park on a quiet cul-de-sac in highly sought after Windgate Ranch. From the moment you enter the dramatic foyer, you will notice the casual elegance of this tuscan inspired home with a beautiful balance of formal and casual spaces. Wide-plank hardwood and Versailles patterned travertine floors, Cantera stone fireplace, wainscot panels, crown molding, granite counter tops all add to the ambience. Gourmet kitchen opens to family room and breakfast area. The master bedroom is a nice retreat with sitting area and private access to patio and pool. Charming courtyard style backyard with fountain, fireplace, built-in BBQ, travertine pavers and grassy area surround an elegant pool. This impeccable, move-in ready home is a must see!
For more information and virtual tour, please see 17452 N. 100th Way, Scottsdale.
Welcome to 17452 N. 100th Way! This is a beautifully appointed home located across from a park on a nice cul-de-sac at the premier guard gated community of Windgate Ranch. It will be held open Sunday, July 26 from 12:00 P.M to 3:00 P.M. If you need additional information for this property or other homes in Windgate Ranch, please don’t hesitate to contact me at 602.616.4829 or email me at [email protected].
Wall Street analysts expect home prices to appreciate in 2014 despite weak home sales during the 1st quarter.
Barclay’s analysts projection of a 7% increase in home prices remains unchanged and actually raised its projection for Arizona from 6.8% to 8% and Florida from 7.7% to 8.3%.
Morgan Stanley acknowledged the sluggish spring start to the home-selling season across the nation but remain optimistic about the housing recovery. “We continue to expect home-price appreciation to moderate from the torrid pace of mid-2012 to 2013, supported by improving employment and growth prospects,” according to analysts from Morgan Stanley.
Source: “Wall Street Home Price Appreciation Still Expected to Hit 7%,” HousingWire (April 28, 2014)
Based on the Mortgage Bankers Association (MBA) index which tracks the availability of mortgage-credit, the availability hit a 3 year high in March. While the availability of mortgages is no where near the levels of 2005-2006, there is a measured increase in borrowers access to mortgage credit. The buyers most positively impacted by the credit easement are those seeking jumbo loans and prime purchase mortgages.
Source: “Mortgage Credit Most Available in at Least Three Years, Gauge Says,” The Wall Street Journal (April 9, 2014)
The top end of the luxury market in Greater Phoenix continues to outperform last year by a huge margin.
The first quarter of 2014 dollar volumes for high end sales through ARMLS were as follows:
The total spent in Q1 2014 for homes over $1 million was $459 million, an increase of 15% over last year. This was entirely due to the performance of the top priced segments. If we look only at homes over $2 million the increase was 57%, but between $1 and $2 million the dollar volume was actually down slightly by 3%. Dollar volume for homes priced between $500,000 and $1 million was flat at $574 million in both Q1 2013 and Q1 2014.
Meanwhile the rest of the market priced at $500,000 and below declined by 10% in dollar volume.
The top end is off to another flying start in April with $21 million closed in the first 4 days for homes listed over $2 million. Q2 2013 was a very strong period for luxury home sales and $209 million was spent on homes over $2 million, the highest quarterly total since Q2 2008. With the current momentum it looks like Q2 2014 has a real chance of breaking through that number.
Source: Cromford Daily Observation