Courtyard style entry

View to lush greenbelt

There is only one lender [Indy Mac] on this property and Indy Mac has a streamlined short sale process.  Listings rarely become available in this community and this property will surely sell quickly.

For more information about this property or short sales in Scottsdale , please contact the Luxe Real Estate Group at 480.948.6260.

Homeowners in some parts of the country may be trying to cut heating bills.  Arizona residents look to cut high air-conditioning bills.  Professional comprehensive home assessments are helpful tools to assist homeowners to choose the best project to deal with the hot Sonoran summers that directly affect energy bills in Scottsdale homes.

Compared to older, poorly tuned, or oversized air-conditioning units, energy saving air conditioners cut cooling costs by over 20 percent.   Other effective home improvements include installing better windows, doors, and insulation, along with projects that seal the shells of homes.  For more information about recommendations for energy-efficient remodeling of real estate in Scottsdale, see the government’s Energy Star website.

The Stimulus Bill, formerly called The American Recovery and Reinvestment Act of 2009, offers taxpayers tax credits of 30 percent of costs to improve the energy efficiency of their principal residences.  Credit is limited to the cost of materials for windows, doors, and insulation.  The legislation allows 30 percent of installation costs for appliances such as air conditioners, furnaces, heat pumps, and boilers that meet energy efficient guidelines.  The maximum total tax credit for both 2009 and 2010 combined is $1,500.

For example, if a project costs $5,000, the taxpayer could receive a tax credit of $1,500.  If a $300 project in 2009, then the tax credit would be $90 for 2009.  This homeowner would still be able to spend an additional $4,700 in 2010 and then claim another $1,410 when filing his/her 2010 return.

Those who want to go all green may consider this additional offer.  Another tax credit is on the table until 2016 for installing new energy systems such as solar water heaters, geothermal heat pumps, and wind energy systems.  This incentive includes up to 30 percent of the costs of materials and installation with no maximum limit!

Although previous legislation offered tax credits for these types of upgrades, the 2009 Stimulus Bill raised the credit amount from 10 percent to 30 percent.  Improvements must be “placed in service” between January 1, 2009 and December 31, 2010 with the exception of the energy systems mentioned in the previous paragraph.

For more information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

A pleasant mix of older Scottsdale homes surrounds the 730-acre master-planned Kierland Community that includes popular shopping destination at Kierland Commons, an exclusive 27-hole championship golf course, Agave Spa, Adventure Water Park, hundreds of luxury guest rooms, and much more.

The vacation oasis in the Sonoran Desert of Scottsdale AZ real estate features:

• Three world-class golf courses and Kierland golf club
• Tranquil spa with unique and rejuvenating treatments including oxygen facials at Agave Spa
• Tennis Courts
• Fitness facilities
• A spectacular outdoor pool complex with sand beach, 110-foot waterslide, and 900-foot river
• Year-round games and activities at Westin Kids’ club
• Organized activities and family events
• Top dining experiences
• Shopping with Key to Kierland Shopping at Kierland Commons

A self-guided walking tour leads guests through the depictions of Arizona history on display.  Descriptive plaques, each written with a Will Rogers bent by state historian Marshall Trimble, detail key moments of our past.  In the meeting and function area of the Resort are Discovery Hall, Expedition Hall, and Visionaries Hall where river explorers such as John Wesley Powell join

Arizona Indian chiefs and heads of state, those honored for creating the “Essence of Arizona.”
Arizona Culturekeepers in conjunction with the Arizona Historical Society and The Westin Kierland Resort & Spa to recognizes 10 Arizona pioneers of entrepreneurial spirit, civic leadership, and outstanding contributions.  The state celebrates its 100th birthday in 2012.

In addition to presenting Arizona history and offering 732 spacious Southwestern-style guestrooms with Heavenly Beds® and private balconies and terraces, the Kierland Resort hosts several events.  They include Scottish Pipes at Sunset, Saturday Night Scotch Tastings, Well Beyond, and concerts.

The “Scottish Pipes at Sunset” series features bagpiper Michael McClanathan and honors Scottish immigrants who helped develop Arizona’s railroads, mines, and towns.  “Summer Concert Series at Kierland Commons” features live performances on the plaza each Saturday evening while “Saturday Night Scotch Tastings” serve Johnny Walker Scotches.  “Well Beyond” Weekends feature experts from Mayo Clinic, which is located just northwest of the resort teaching life-long health.

Guests also access a full selection of FUN activities such as trips to the Grand Canyon and hot air balloon rides.  For information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

It is truly a buyers’ market trumping the last eight years.  First-time buyers have the opportunity to buy Scottsdale real estate on scenic golf courses and homes in other neighborhoods that were previously out of reach.  Alternately, they may desire to purchase larger Scottsdale AZ homes in medium-priced neighborhoods, homes with more space such as an extra bedroom or office or garage.

Families looking for real estate in Scottsdale are also highly motivated by great prices for homes and loans.  With reduced sales prices, flexible sellers, and increased inventory, now is the time to buy.  Interest rates are still quite low and FHA loan products are enticing.  In February, the FHA Loan Limits in Maricopa County (Scottsdale, Phoenix and Mesa) increased to $346,250.  FHA conforming loan limits are $417,000.

Buyers with steady employment and reasonable credit scores can buy a home with as little as 3-percent down payment through the FHA.  In addition, the FHA opened up bridge vehicles that enable first-time buyers to borrow from tax-credit monies for down payments.  The tax credit also applies to purchasers who use revenue bond financing.

All principal residences are eligible.  That includes single-family homes, condominiums, townhouses, co-ops, and houseboats, which we do not see much of in the desert.

A tax credit is not a tax deduction. It is a dollar-for-dollar reduction in taxes.  If the homebuyers do not owe taxes, they will receive a refund after filing 2009 taxes.  Unlike other recent incentives, homebuyers who buy between January 1 and December 1, 2009 do not pay back this money unless they sell the qualifying homes within three years.

The tax credit starts phasing out for homebuyers with modified gross incomes above $75,000 ($150,000 joint), according to a formula.  Please consult your tax advisor for specific information.

For more information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

Investors in trust property in Scottsdale or Arizona real estate need to find out how this ruling affects their situations, if at all, with regards to plans for foreclosures and short sales.  We strongly advise consultation with qualified tax professionals before deciding to do a short sale or foreclosure.  There are possible derogatory tax consequences resulting from Arizona  foreclosures, shorts sales, and loan modifications.

The current Arizona anti-deficiency rule keeps lenders from seeking a deficiency, or suing directly on the note, following a foreclosure or short sale of investment real estate in Arizona that meets certain criteria.  It is advisable for real estate investors to seek professional help analyzing each foreclosure or short sale to determine their rights and obligations.  The lender’s remedies under the Promissory Note and other loan documents spell out the terms.

Designed to limit the type of borrowers that will qualify for anti-deficiency treatment, the new Arizona law changes the criteria.   Criteria under the current laws are simple:  the anti-deficiency rules apply only if the foreclosed property is under 2 ½ acres and utilized as a single one-family or single two-family dwelling.

The current law goes something like this:  In Arizona, if a borrower fails to pay its loan, a lender can foreclose its Deed of Trust lien either judicially per A.R.S. 33-721 et. seq., or non-judicially by conducting a trustee’s sale per A.R.S. 33-801 et. seq.  If the foreclosure price does not pay a lender what it is owed, the lender may generally seek a deficiency against the borrower for the difference.  Arizona has anti-deficiency laws that bar a lender from seeking a deficiency in certain situations.  In both judicial foreclosures and trustee’s sales, anti-deficiency rules apply only if the property being foreclosed meets the criteria.

However, after September 29, 2009, there are additional criteria:  The trustor must have lived in the property for at least six consecutive months and must have a Certificate of Occupancy.  Investment properties sold at a trustee’s sale will not qualify for anti-deficiency treatment if the trustor has not lived in the property for the six consecutive months.  There are more details in the fine print.  Be aware.

For more information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

HERA stands for the Housing and Economic Recovery Act.  It assists borrowers by mandating full transparency.  The new rules encourage consistent lending practices among Scottsdale lenders and include controls to prevent deceptive and abusive lending practices.  Hoping to promote fair regulation of the Arizona real estate industry, all parties should benefit from the regulations.

All mortgage lenders and mortgage brokers in Scottsdale must comply with the regulation requirements.  One of them has to do with Truth in Lending (TIL).  Truth in Lending is a form mandated by federal law that specifies information that must be provided to borrowers on different types of loans.

The idea is that lenders provide one uniform set of price disclosures that are consistent from loan to loan and from lender to lender.  In theory, this would enable Scottsdale home buyers  to make apples-to-apples price comparisons across loan types and across lenders.

Mortgage companies in Arizona are looking positively about several changes heralded by HERA.

1. Saturdays will be counted as business days for all disclosure wait periods.
2. With the exception of the credit-report fee, upfront fees cannot be charged until the borrower receives the initial TIL from the lender.
3. Initial TIL is required on purchases and refinancing of primary residences and second homes and not for investment properties.
4. Initial TIL must be provided at least seven business days before the closing and signing date.
5. If the APR in increased by more than .125 percent, at least three business days before closing the TIL must be revised and reissued to the Scottsdale home buyer.

The appraisal cannot be requested until the Arizona home buyer  receives the initial TIL from the lender.  Lenders may not collect the appraisal fee until four business days after the lender issues the initial disclosure packet.  A copy of the appraisal must be provided to the borrower, although they may eliminate the three-business-day wait period by waiving their right to review it.

In today’s real estate market, escrows no longer close in 30 days.  Loans are more difficult to close and when all goes well, they take about 40-45 days.

For more information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

One of the most interactive entertainment venues available for residents of Phoenix and Scottsdale, the amusements and antics continue non-stop with comedy, music, dancing, circus performers, and jousting knights on horseback.   Games, rides, and the festival marketplace offer plenty of interesting options for all generations to experience.

Special events held during the 2009 festival, the 21st annual event, included performances by Artiste du Jour Paolo Garbanzo, winner of The International Jester competition and an invitation by The King and Queen to couples to celebrate the Age of Chivalry at the Renewal of Vows at the Festival Wedding Chapel.  The Medieval Babes in concert, Venetian Carnevale, wine lectures and tasting, Ahoy ye Landlubbers Treasure Hunt and Pirate Costume Contest, Fairyland Merriment, Celtic Nations Celebrations, Sexiest Knees in a Kilt Contest, Royals vs. Peasants, Princess Contest, Huzzahs, and so much more.

Games and rides, like DaVinci’s Flying Machine, Voyage to the New World, Butterfly Ride, Swan Swing, Dragon’s Climbing Wall, Dungeon Tour, Local Yokel’s Village, Dragon Tail Tower, Piccolo Pony, and Jacob’s Ladder, offer children and youth a day of fun activities.

Creativity abounds.  From glass-blowing demonstrations and crystal mining to metal works and unique jewelry and dramatic fashion, the marketplace is like nothing in the metropolitan area.  This is also the place to purchase unusual candles, home accessories, books, swords, pottery and ceramics, pewter, instruments, leather goods, and fanciful clothing.

A grand medieval feast, the culminating Pleasure Feast features six courses of fine foods and drink accompanied by raucous entertainment.  “Let the Feast Master’s boisterous serving wenches and tavern knaves dish up a roaring good time!” exclaims the advertisement.  There are two feasts each day.  The Fairhaven Feast Hall is also available for private events.

A great time for humorous family photos, there are also many opportunities available to dress in period costume or to pick up souvenirs.  Other services include Ancient Arts, Celestial Circus, Enchanted Images, Face and Body Painting, Family Name Histories, Fantasy Hair Weaving, Gypsy Eyes, Caricatures, and Body Art and other fascinating offerings.

For more information about the estate homes and luxury real estate in the area, contact the LUXE Real Estate Group at 1-888-900-LUXE.

Spring training is a series of practices and exhibition games commonly used by Major League Baseball teams before the start of the regular season.  It allows new players to audition for roster and position spots and offers practice time for everyone.  Today, all major league teams use facilities in the warmer states of Arizona (the Cactus League) and Florida (the Grapefruit League).  Spring training lasts from the end of February through March.  Pitchers and catchers report a week or two before players from other positions arrive for team practice.

In modern training, teams that train in Arizona play other Arizona training teams in their exhibition games.  They also play teams from Arizona State University, minor league baseball clubs, intra-squad games, split-squad games, and B Games, which are unofficial Spring Training games.

The following teams are in the Cactus League in the Greater Phoenix area:  Chicago Cubs, Chicago White Sox, Cleveland Indians, Los Angeles Angels of Anaheim, Los Angeles Dodgers, Kansas City Royals, Milwaukee Brewers, Oakland Athletics, San Diego Padres, San Francisco Giants, Seattle Mariners, Texas Rangers, and in 2010 the Cincinnati Reds.  Two more clubs hold Spring Training in Tucson:  Arizona Diamondbacks, Colorado Rockies.

A modernized Scottsdale Stadium replaced the facility that housed several major league teams since World War II ended.  After residents of homes in Scottsdale approved an $8M bond issue in 1991, the 1946-era original stadium at the corner of Osborn and Drinkwater work began to demolish and replace Scottsdale Stadium.  A beautiful new design by HOK Architects provided a spacious concourse and 12,000 seats, including berm seating.  Field dimensions are left field, 360 feet; right field, 330 feet; center field, 430 feet with a 10-foot high outfield fence.

In 2006, another $23M, made available through Arizona Sports and Tourism Authority, Maricopa County Stadium District, and the City of Scottsdale, funded a walkway connecting the berms, full and half practice fields, and VIP seating for season ticket holders in the Charro Lodge pavilion and terrace in right field over the bullpen.  The Giants signed on until 2025 with an option to extend an additional ten years.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-888-900-LUXE.

Possibly trumping it all, Scottsdale hosts the FBR Open, formerly known as the Arizona Open and the Phoenix Open, at the Tournament of Players Club (PTC) of Scottsdale.  The FBR Open holds the record for having the highest spectator attendance of any golf event, with more than 500,000 in 2008.  Over the decades, the nationally televised event brought name recognition to the City of Scottsdale.

Held annually at the end of January, the 2009 schedule included Ladies Invitational, Practice Rounds for pros, Pro-Am and Celebrity-Am tourneys, Hoyt Family Foundation Dream Day activities, Junior Golf Clinic on Practice Range, CBS Outdoor Special Olympics Open on Putting Green, Opening Dinner, Shot At Glory on 16th Hole Stadium course, and Birds Nest entertainment before the FBR Open begins.

History of the FBR Open

The Phoenix Open began in 1932 with a $2,500 purse.  Ralph Guldahl of the United States took home $600 for his first place winnings.  After the 1935 events, the tournament was discontinued.  However, avid golfer Bob Goldwater Sr. determined to revive it.  He cajoled fellow Thunderbirds, a prominent civic organization in Phoenix, into helping him to get it going again.  Although they agreed, Goldwater printed the tickets, sold sponsorships, obtained the use of the Phoenix Country Club, and invited a few important friends to tee up.  They were Bing Crosby, Bob Hope, and Ben Hogan.

The 1939 Phoenix Open was a royal success and the show has gone on every year except during a wartime 1943 hiatus.  By 1946 and 1947, Ben Hogan took home $1,500 and $2,000 for first-place standings.

By 1955, the Arizona Country Club hosted the Open on alternate years.  Then, from 1975 to 1986, it remained exclusively at the Arizona Country Club.  In 1987, the tournament moved to its current home at the Stadium Course at the TPC of Scottsdale.   By that time, the purse had gone up to $600,000.

As of 2003, the tournament’s new title sponsor, the investment bank Friedman Billings Ramsey (FBR) joined the team.  When Kenny Perry took first place in 2009, the purse was $6,000,000 and Perry earned $1,080,000.

Spectator tickets are always available.  Sold for $25 a day, the Thunderbirds make room for everyone who wants to participate.  Portions of the proceeds go to funding the Phoenix activities of the Special Olympics.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-888-900-LUXE.

The younger set may select Scottsdale homes for their families after watching the FBC Open from the gallery on the 16th hole when they attended Arizona State University.

Regardless of how, tournaments at the TPC of Scottsdale draw record-breaking crowd and introduce golf enthusiasts to the idea of owning golf real estate in Scottsdale.  TPC of Scottsdale is part of a chain of Tournament of Players Club golf facilities built to accommodate tens and hundreds of thousands of spectators.

TPC of Scottsdale opened in 1986 with the Par 71, 7215-yard Stadium Course.  In 2007, the Par 71, 7115-yard Championship Course followed over 20 years later.  The 36 holes exhibit the strengths of the greats and encourage well-rounded playing skills.  All players here walk the fairways and enjoy the services normally reserved for the greatest players in the world.

Named as a Top 10 Public Golf Courses in Arizona by Golf Digest, Jay Morrish and Tom Weiskopf designed the Stadium Course that opened for play in 1986.  It was the first golf course in Arizona to be designated an Audubon International Cooperative Sanctuary and it has achieved that designation year after year.  The Audubon Cooperative Sanctuary System provides information and guidance to golf courses to preserve and enhance wildlife habitat and protect natural resources.

The newer Champions Course, designed by Randy Heckenkemper, is a collaboration of the City of Scottsdale, the Bureau of Reclamation, and the PGA TOUR.   The ultimate desert golf experience unfolds over Bermuda fairways, pristine greens, and challenging bunkers, natural ravines, and picturesque foothills, trumped by the last four holes.

The Champions Course includes a beautiful new modern clubhouse with expanded banquet and catering capabilities.  It is available for tournament receptions, business gatherings, and other special events.

The TPC is comprised of destination and private membership properties.  Membership in any PTC Club may earn playing privileges at other clubs in the TPC Network.  Tournament of Players golf courses host PGA TOUR, Champions Tour, and Nationwide Tour events.  The network of private and destination golf clubs maintain an excellent reputation.

TPC Scottsdale is located north of Frank Lloyd Wright Boulevard between Scottsdale Road and the Loop 101 Freeway (Pima Road).  For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-888-900-LUXE.