Take note if you are or plan to be a real estate investor in Scottsdale, Phoenix, or any other part of Arizona.  On July 10, 2009, Arizona Governor Brewer signed legislation that as of September 30 changes the Arizona anti-deficiency law contained in the Arizona Revised Statutes – Section 33-814(G), the trustee’s sale statute.

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 1-800-519-LUXE.

New HERA regulations designed to improve mortgage disclosure take effect on July 30, 2009.  Through this legislation, buyers in the Scottsdale and Phoenix Arizona real estate markets will be better informed about the mortgage process in the future than in the past.

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 1-800-519-LUXE.

Whether you purchase a Phoenix Arizona home for sale or Scottsdale golf real estate, take the family out to mingle costumed characters at the Arizona Renaissance Festival every winter in Apache Junction.  Harkening back to the celebrations held in European village during the 1500s-1600s, the Renaissance Festival features a medieval amusement park, a 12-stage theater, 30-acre circus, arts and crafts fair, jousting tournament, and a marvelous feast.

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 1-800-519-LUXE.

Another boon to Scottsdale, Arizona real-estate values is the spring training facility at Scottsdale Stadium.  Located in vibrant downtown Scottsdale real estate next to Old Town, Scottsdale Stadium is the most popular venue to watch a baseball game in the Cactus League.

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 1-800-519-LUXE.

Several PGA golfers own second homes in Scottsdale Arizona, or real estate in Greater Phoenix, for good reason: sunny practice time.  There are over 200 golf courses near beautiful Scottsdale real estate, including the TPC of Scottsdale.  We also have a wide selection of luxury homes in Scottsdale’s golf communities set in the Sonoran Desert with views of the majestic McDowell Mountains and city skyline.

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 1-800-519-LUXE.

TPC Scottsdale is one of the finest venues on the PGA TOUR for players and fans alike.  Many folks now retiring to Scottsdale AZ real estate anticipate leisurely rounds of golf at The Tournament of Players Club of Scottsdale.  Some spotted the TPC tourneys on television during the FBR Open, formally called the Arizona Open and the Phoenix Open.

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.

Since 1992, the Scottsdale League for the Arts contributed approximately three-million dollars to support art and art education for children of Scottsdale, Arizona.  While fully embracing the relaxing lifestyle available in Scottsdale , these volunteers help shape the cultural landscape by staging signature events such as the fabulous Annual Scottsdale Culinary Festival held in April.

Residents of Scottsdale take great advantage of the festival’s sunny days to enjoy each other’s company.  Destination events also bring out residents of Greater Phoenix metropolitan area along with snowbirds from around the nation to enjoy the company of professional artists.  They contribute to the artsy mystique of Scottsdale, AZ.

During the food, fun, and festivities of the six-day Scottsdale Culinary Festival, the host of casual-to-upscale events includes demos by the nation’s top chefs.  The fest features awesome food, drink, and live music from acclaimed bands.

The Scottsdale League for the Arts hosts over 40,000 guests for the Scottsdale Culinary Festival, the longest-running festival of its kind in the United States.  The League organizes the event and welcomes other volunteers to help at the entrance gates, beverage booths, and ticket booths.

The League awards grants on a competitive basis to non-profit 501(c) 3 agencies that provide direct services or activities related to the arts.  The Phoenix Symphony, Scottsdale Center for the Arts, Scottsdale Museum of Contemporary Art, Arts in Education Council, and Phoenix Boys Choir are past recipients of funds.  Businesses can help by purchasing cost-effective sponsorship packages that provide a wonderful opportunity for exposure while supporting the local arts community.

The 2009 event included the following events:

• Friends of James Beard Benefit Dinner at The Westin Kierland Resort & Spa
• Bubbles & Bliss at W Scottsdale
• Chef Tribute Dinner at J&G Steakhouse
• Mixologist On the Rocks at Hotel Valley Ho and Mondrian Scottsdale
• Culinary Hall of Fame Awards Dinner at Wrigley Mansion
• East, Drink & Be Pretty and Cooks & Corks at Scottsdale Center for the Performing Arts
• Great Arizona Picnic at Scottsdale Civic Center Plaza
• Chefs Wine Dinners
• Wine Country Brunch at InterContinental Montelucia Resort & Spa
• Best of the Fest at Hyatt Regency Scottsdale at Gainey Ranch

Tickets range from $10 to $225.  In a partnership with Food & Wine Magazine, the magazine donates a 12-issue subscription to anyone who purchases at least $40 worth of tickets.  The next event associated with the 2010 Culinary Festival is cocktails at Trader Vic’s at Hotel Valley on Thursday, July 16, 2009 at 5:30 p.m.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-800-519-LUXE.

Short sales are the best option for many owners of resort and vacation real estate in Scottsdale Arizona.  However, this alternative to foreclosure will not work for sellers who expect to make a profit from the sale of their Scottsdale AZ homes.  Those sellers are best off seeking loan modifications.

Sellers of Greater Phoenix real estate are at the mercy of their lenders during the negotiations for short sales.  Caught in difficult situations, they are usually behind on house payments with no end of challenges in sight.  Distressed sellers need to remain humbly aware that for short sales to work, the lenders must agree to accept a loss of funds.  Consequently, sellers who want to be successful in their proposals to do short sales had better follow their lenders’ guidelines to the T.

The first step to a short sale is calling the lender.  It is important to speak with the person capable of making decisions about short sales.  Sellers should be aware that requirements for short sales vary from lender to lender.

Listed below are some commonly requested documents:

• Letter of Authorization sent to the lender allows the lender to communicate with the real estate agent, lawyer, and the title company.  It should include the property address, loan reference number, seller’s name, date, and name and contact information for real estate agent.
• Closing sheet, prepared by closing agent or lawyer, to illustrate estimated sales figures.
• Hardship letter to explain circumstances and causes of financial problems.
• Proof of Income & Assets document that discloses resources, assets, and accounts.
• Comparative Market Analysis (CMA) prepared by your real-estate agent to describe market and property value declines that are affecting sale of the property.
• Purchasing Agreement
• Listing Agreement
• Copies of bank statements and an accounting for each deposit along with evidence assuring continuing deposits.

It is highly recommended for sellers to confer with professionals such as real estate agents, real estate lawyers, and CPAs before proceeding with short sales.  Some states allow lenders to pursue borrowers for the difference between the amount owned and the amount paid.  In some instances, the shorted amount is taxable income.  Unforeseen details dampen the short-sale transactions.

Most states require credit reporting by lenders.  However, sellers may ask lenders not to report the short sale.  Occasionally, lenders will oblige but normally a short sale registers on the FICO score the same as a foreclosure.

For more information about Arizona short sales, contact the LUXE Real Estate Group at 1-800-519-LUXE.

Although there are fewer short sales in the real estate markets of Scottsdale Arizona than in Greater Phoenix AZ real estate, the short sale does have its place.  Second homes and vacation homes in Scottsdale and other resort areas are the first to go when property owners face economic crisis.  Short sales, for some people, are a better option than allowing their homes in Scottsdale or Phoenix to go into foreclosure.  However, short sales affect FICO scores the same way as foreclosures do.

What is a short sale?  Short sales allow buyers to purchase homes in pre-foreclosure for less than the mortgage balance on those properties.  Any lender that accepts a short sale will lose money and they are in business to make money.  Therefore, short sales require the distressed property owners to meet strict qualifications.

To begin with, a lender will only accept a short sale if the homeowner (seller) is facing extreme economic hardship.  Mortgages must be in a default status or approaching default.  If payments are current, other factors must be in play.  Sellers must be facing difficulties caused by situations such as medical emergencies, divorce, death, bankruptcy, or unemployment.

Lenders who will be agreeing to lose money have no sympathy for sellers who have financial problems because they went on a spending spree, made poor decisions, or simply want to move to another neighborhood.

Sellers must be willing to allow the lenders to scrutinize their finances.  Sellers must disclose assets, such as savings accounts, stocks, bonds, IRAs, and other real property.  Depending on the overall scenario, lenders may allow shorts sales in spite of asset strength or they may require the seller to pay back the shortfall sometime in the future.  The government also likes to get involved at times.  Some states tax the debt forgiveness, requiring lenders to issue 1099 forms for the shortfall that they absorb.

Next, sellers must prove that the home is worth less than the unpaid balance plus penalties.  Real estate agents can assist by providing stats from comparable sales to prove that the value of the property has dropped.

Another dealmaker is that sellers must have one or more offers on their properties before lenders will consider the short sales.  Finally, lenders must accept the buyers’ offers.

For more information about Arizona short sales, contact the LUXE Real Estate Group at 1-800-519-LUXE.

The internationally acclaimed Desert Highlands Golf Club features some of the most beautiful homes in Scottsdale Arizona.  Spread through its 850 acres, the exclusive Scottsdale AZ real estate includes 575 home sites beginning in the $300,000 to $600,000 range, membership included.  Since it was established in 1983, over 500 custom Scottsdale homes have been constructed.  Prices range from $1-8 million.

This extraordinary real estate in Scottsdale is convenient to amenities and art centers at Old Town Scottsdale and Carefree.  It is near medical services such as the renowned Mayo clinic, shopping, restaurants, and schools.  With only a 30-minute drive from Downtown Phoenix real estate, residents of these wonderful Desert Highlands homes also enjoy plenty of cultural and entertainment options in the big city and proximity to Sky Harbor Airport. 

Desert Highlands offers exceptional Sonoran Desert living for residents.  A Jack Nicklaus Signature-design golf course extends throughout the private gated community.  The community also features an award winning clubhouse, golfing in the footsteps of the legends, an extraordinary tennis program, and fitness center and spa. 

Blended into imposing granite outcroppings, the 30,000-square-foot clubhouse is like a jewel set into the mountains.  Designed by William Zmistowski, the refreshingly elegant masterpiece features magnificent views from the formal dining room, informal dining, bar, private dining areas, and from terraces that cascade down the hill to the pool.  These gathering spots look out over breathtaking Arizona sunsets.

The award-winning clubhouse does not steal the glow from the acclaimed golf course, though.  Golf Digest ranked Desert Highlands as one of the top desert golf courses in the country.  The first two Skins Games (1983 and 1984) took place here with Jack Nicklaus, Arnold Palmer, Tom Watson, and Gary Player.  From the tips, Nicklaus designed 7,072 yards of marvelous challenges.  As the desert is abutting the fairways and greens, Pinnacle Peak looms overhead with the city lights below in the distance.

Desert Highlands Racquet Club, a premier facility with its own clubhouse, lounge, and fully stocked tennis shop, features 14 tennis courts with grass, clay, or LayKold surfaces.  The courts also blend into the desert setting.  The club offers frequent member socials, tournaments, and interclub play.  Approximately 150 club-ranked tennis players enjoy the state-of-the-art tennis facilities.  Just as fabulous, the superb spa and fitness facilities cater to the health, well being, athletic conditioning, and relaxation of Members.

Desert Highlands sets a higher standard in community, amenities, and individualized, environmentally harmonious architecture.  In fact, the Covenants, Conditions and Restrictions became the model for other gated communities in the American Southwest.  Honored as Most Beautiful Clubhouse in America and Best Club with Locked Gates among other accolades, Desert Highlands delivers the grace of a lifetime of dreams.

For more information about luxury real estate in the area, contact LUXE Real Estate Group at 1-800-519-LUXE.

For the first time in Arizona, data is available to track the affect foreclosures are having on home prices across the valley. A new system tracks the median prices of foreclosure homes versus resale homes by zip code. Although bank owned homes are historically sold for less than resale homes, the new data shows that banks are trending to sell homes at bargain rates; sometimes 10-30% below resale median prices.

Arizona foreclosures are at record levels, but it likely has not peaked. We will assuredly set record highs and in a short time, there will be over 1 million bank owned homes on the national market. Banks will need to get this inventory off of the books.

What does this mean for buyers in Arizona? It means that there has never been a better time to buy a home in Arizona when comparing value of median priced resale homes. However, very few real estate agents are “bank-owned” experts or deal exclusively in real estate owned, better known as “REO” property.

The Luxe Real Estate Group represents numerous bank and lending companies, such as Bank of America, Countrywide, HSBC Bank, M&I Bank, GMAC and many others. We deliver our bank owned inventory to our clients first. Please call us at 800.519.LUXE or email Jay Martinez at Jay@Luxerealestategroup.com for more information or a current bank owned inventory list.

The lifestyle at DC Ranch is unrivaled.  The DC Ranch community was designed for an affluent lifestyle and promotes the ability for its residents to not have to ever leave its boundaries to enjoy North Scottsdale and the best amenities in town.

The award winning DC Ranch Marketplace is a place to be seen and to enjoy the valleys top eateries and even wineries.  It is an upscale marketplace built and designed by DMB. It offers neighborhood shopping convenience with a chance to wine and dine with family and friends at a wine bars like Armitage and multiple high end dining options like Eddie V’s.

If you like golf, you can enjoy the DC Ranch Countryclub and its 18 hole, par 71 golf course designed by DC Ranch resident Tom Lehman.  This award winning golf course sits at the foot of the McDowell Mountains and features views of North Scottsdale to Camelback Mountain.

As for DC Ranch Real Estate, few communities can compare to the spacious elevated floor plans and home on and around the DC Ranch Mountains.  It features a unique opportunity to connect with family and friends with various community amenities and even the Village Racquetball Club and Spa.

Housing ranges from the low 400s to well over $1 million.  However, one of its greatest attributes is that DC Ranch offers housing for all levels of income, from top level condominiums to multi-million dollar estates in Silverleaf.

For more information, please call your local DC Ranch Real Estate experts at the Luxe Real Estate Group at 800.519.LUXE.

Nobody knows for sure.  Of course, many so called “experts” whose income does not depend on selling houses have plenty of opinions.  Then again, nobody guessed it would last this long.  However, two years ago when houses were being sold by placing a “for sale by owner” sign in the front yard, these same experts rarely warned or predicted what we are experiencing now.  In addition, executives, CFOs and CEOs of top banking and lending companies with huge six figure salaries and bonuses based on their companies bottom lines did not pull back on their companies lending money to unqualified individuals or delving into the sub-prime market or HELOCS.  Nobody was scared of the bubble bursting or the sub-prime market crashing.  If these so called “experts” could not predict the crash, why can they now be so sure of the return?

The simple answer is that they cannot.  The people who are in the trenches and whose income depends on the real estate market in Arizona are the best “experts”.  As a company, the Luxe Real Estate Group would be considered “REO” and “bank owned” experts as we represent some of the top banking and lending organizations, such as Countrywide, HSBC, GMAC and Bank of America.  We are seeing more and more foreclosure properties hit the market.  As long as large volumes of foreclosures flood the market, they will continue to bring home prices down.

This does not necessarily mean it is a bad time to sell your home.  It all depends on your unique situation.  It does mean that the days of selling your home with a “FSBO” sign are probably gone and the need for a good real estate agent is at an all time high.  Furthermore,  we have not seen such a great time to buy real estate in many years, especially for investors looking to buy low income and cash positive properties.  Bottom line is that CNN does not know the Arizona real estate market.  More than ever, home owners and buyers should turn to real estate professionals to get a true picture of the market before buying or selling real estate.

Contact the Luxe Real Estate Group at 800.519.LUXE.

McDowell Mountain Ranch is an award winning 3,200 acre master planned community nestled in and around the beautiful Sonoran Desert and the majestic McDowell Mountains. It is very unique in that it offers multiple floor plans and home prices to different consumers.  It features over 20 different neighborhoods built by 14 unique builders, like the award winning KB Homes.   Builders started construction in the early 90s and homes began selling in 1995 it is known for housing young professionals in the heart of North Scottsdale. One of its greatest attributes is its affordability.  Houses range from 300k to over 2 million.  For North Scottsdale Real Estate, there is really no comparison for value in this area.  A young family can enjoy all North Scottsdale amenities, including top level golf courses and restaurants for a fraction of the costs in neighboring Silverleaf and DC Ranch.  It also has numerous public facilities and schools so that residents need not travel far to enjoy the community.  It features numerous parks, schools, public libraries, eateries, an aquatic center and much much more. If you would like to know more about enjoying the McDowell Mountain Ranch lifestyle, please contact the Luxe Real Estate Group at 800.519.LUXE.

Windgate Ranch in Scottsdale AZ is the newest gated Toll Brothers luxury community nestled between DC Ranch, Silverleaf and the McDowell Mountains.  The community promotes a family luxury and resort lifestyle with amenities second to none.  Its community center features a gourmet kitchen, a children’s play room, office suites and large TV rooms and banquet rooms.  Most impressive is the resort style pools, which are surrounded by luxurious cabanas and barbeques to make residents feel like they are at a five star resort. 

Windgate Ranch is located and surrounded by a preserve in the High Sonoran Desert and its residents enjoy panoramic and unobstructed views of Camelback Mountain and the McDowell Mountains.  It is also walking distance to DMB’s award winning Village Spa and Racquet Club and all of the amenities at DC Ranch’s market street. 

There are quick delivery homes available now at unbelievable discounts.  These discounts are not made public or posted on their website for obvious reasons.  The Luxe Real Estate Group has represented numerous buyers in this community and we would be happy to discuss the incentives that we have been able to obtain for our previous clients to make sure that you receive the best possible price available. 

Please call your local Windgate Ranch Scottsdale real estate experts at the Luxe Real Estate Group at 480-948-6260 to schedule a tour of the facilities and a viewing of Windgate Ranch’s quick delivery homes.