ScottSdale | PHoeNIX | PaRadISe ValleY | eaSt ValleY Luxury Properties, Homes, Condos, High-Rises, Lofts & Land What’s New on the Market INSIDE n Mortgage Info n Tax Incentives n Money Watch n Sales Statistics Properties MAGAZINE re/Max excalIbur spring 2009 surrounding areas &
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RE/MAX Excalibur Properties Magazine - Spring 2009
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ScottSdale | PHoeNIX | PaRadISe ValleY | eaSt ValleY
Luxury Properties, Homes, Condos, High-Rises, Lofts & Land
Stone Creek's “Move-in Ready” packages are designed to give your new home, or a home you have on the market,a quick and cost effective makeover. Choose from a variety of Move-in Ready packages that can include completekitchen remodeling, indoor and outdoor painting, new bathroom, new carpet, and even Move-in Ready maid service.We can do it all in 30 days or less! At Stone Creek, we've been remodeling homes in the Valley for over 19 yearsand because you're buying direct from our factory, with no contractors commission, you'll save 25% - 50%.No job is too small or too large and we will not be undersold! See our "Move-In Ready" packages on the web at,s tonecreekfurni ture .com/moveinready or call 602-722-4026 for a free, no obligation in-home consultation.
*Complete tear-out and disposalof old kitchen and appliances
* Custom Stone Creek CabinetsTypical 10' x 10' Kitchen Layout
*Granite counter tops (up to 60 sq. ft.)*Kitchen walls, ceiling & trim paint
*Whirlpool Stainless AppliancePackage including range,microwave hood,side-by-side refrigeratorand dishwasher.
*Stainless sink, faucet & disposal
StoneCreek_May 4/3/09 9:51 AM Page 1
s t o n e c r e e k f u r n i t u r e . c o m
Chandler Showroom480.857.6300
Chandler Blvd. & Metro
Scottsdale Showroom480.451.3100
Scottsdale Rd. & Loop 101
Phoenix Factory & Showroom602.458.9800
I-10 freeway east of 40th St.
Arrowhead Showroom623.334.4440
Bell Road & 77 Ave.
Goodyear Showroom623.547.4800
Dysart & McDowell
Chandler Showroom480.857.6300
Chandler Blvd. & Metro
Scottsdale Showroom480.451.3100
Scottsdale Rd. & Loop 101
Phoenix Factory & Showroom602.458.9800
I-10 freeway east of 40th St.
Arrowhead Showroom623.334.4440
Bell Road & 77 Ave.
Goodyear Showroom623.547.4800
Dysart & McDowell
AZ LIC. ROC208075
®
Stone Creek's “Move-in Ready” packages are designed to give your new home, or a home you have on the market,a quick and cost effective makeover. Choose from a variety of Move-in Ready packages that can include completekitchen remodeling, indoor and outdoor painting, new bathroom, new carpet, and even Move-in Ready maid service.We can do it all in 30 days or less! At Stone Creek, we've been remodeling homes in the Valley for over 19 yearsand because you're buying direct from our factory, with no contractors commission, you'll save 25% - 50%.No job is too small or too large and we will not be undersold! See our "Move-In Ready" packages on the web at,s tonecreekfurni ture .com/moveinready or call 602-722-4026 for a free, no obligation in-home consultation.
*Complete tear-out and disposalof old kitchen and appliances
* Custom Stone Creek CabinetsTypical 10' x 10' Kitchen Layout
*Granite counter tops (up to 60 sq. ft.)*Kitchen walls, ceiling & trim paint
*Whirlpool Stainless AppliancePackage including range,microwave hood,side-by-side refrigeratorand dishwasher.
*Stainless sink, faucet & disposal
StoneCreek_May 4/3/09 9:51 AM Page 1
09 | Spr ing | PROPERTIES MAGAZINE | 3
did you know? Phoenix has an average annual rainfall of only 7.6 inches and enjoys around 325 sunny days per year.
Although it’s been the big buzzword in real estate today, the market is not all about “repo” properties.
There is no question that today’s market is without precedence. There are incredible opportunities to buy real estate that, in previous years, has been unheard of. But no matter how great the buy, real estate is still a big investment and people continue to ask me, “What are the biggest mistakes buyers are making today?” Quite simply, there are three:
n Buyers are limiting their offers to only REO or bank-owned properties. Yes, bank-owned properties are some of the best deals in today’s market, but there are just as comparable deals with standard MLS listings. We are seeing sellers willing to part with their homes at prices that rival repossessed properties. Unfortunately, many buyers won’t even consider these alternatives. This issue is filled with properties that are model perfect and ready to move into. I think you’ll find most to be extremely competitive to distressed homes.
n Constipation and carpel tunnel. Too many buyers today aren’t moving quickly on signing for a home! Deals are flying past their fingers due to lack of an ability to make a decision. Don’t be the client who calls us a couple of years from now saying, “I wish I would have listened to you.” “We will all look back at this market as “the good old days.”
n Listen to your real estate professional. There hasn’t been a time in the past few decades when a full-time Realtor has been more valuable in the buying process. Everyday, we see bad advice being shared by licensed Realtors who have treated their profession as a “part-time” job. This market is moving too fast to not be engaged full time in order to capture the best property advantages. It is simply not adequate to just have a license and rely on the MLS for current information.
I have been a successful businessman and investor for more than four decades. My physicians, CPA and Realtor have been keys to my success because I select the best and pay them well. This is the best advice I can share with my friends in this difficult time.
Please enjoy our selection of spectacular properties presented in this issue of RE/MAX Excalibur Properties Magazine. Our valued full-time sales professionals are waiting to help you!
Sincerely,
Howard Lein Owner, RE/MAX Excalibur
W e l c o m e
Renaissance Masterpiece in Scottsdale
This enchantingly elegant north Scottsdale estate offers the finest in detailed finishes and quality construction. With 7,905 square feet of sumptuous living space, the home sits on a quiet cul-de-sac conveniently located in a private enclave of 10 stunning homes. Enter through the dramatic entrance into warmth, richness and luxury, and you will understand why this home has been featured in several lifestyle magazines. A versatile floor plan boasts 6 bedrooms in 2 separate living wings, 5 full baths, 2 half baths, great room with full bar and wine room for informal gatherings, expansive gourmet kitchen featuring premium stainless steel appliances and beautiful alder cabinetry, step-down living room with dramatic stone hearth fireplace, raised dining room featuring coffered ceiling with crown molding, master retreat complete with private sitting room and romantic fireplace, huge bonus room with wet bar and fireplace, and an office/den featuring built-in cherry cabinets. Beautiful resort-style backyard with sparkling pool, spa, waterfall, slide and built-in barbecue. Two tiled patio areas provide plenty of outdoor entertaining space. A large laundry room and four-car garage with storage complete this lavish floor plan.
Randi ChRiStel(602) 370-2396www.HomesByRandi.com
On the Cover
09 | Spr ing | PROPERTIES MAGAZINE | 5
did you know? Phoenix is on Mountain Standard Time and never moves the clock forward or back for Daylight Saving Time. Only the Navajo Nation observes the time change.
Valuable Information
Listings
RE/MAX Collection
Distinctive Living 19 Listings 20-28
Homes
The Upside of Real Estate 31 Listings 32-39
Condos, High Rises & Lofts
Condo Home Market 41 Listings 42-43
Land
The Valley’s Best Value 45Listings 46
How to Stage a Home for Sale 9
Money Watch: Mortgage Outlook 7
The 411: Bank-Owned Properties 6
C O n T E n T S
Participating Associates 11-13 Valley Map 16-17
Real Estate Features
Numbers reflect the “sold” listings of all office locations and independent offices of each multi-office or franchise organization identified, which listings were sold by such organization itself, or with the aid of a cooperating broker, according to data maintained by the Local Board or Multiple Listing Service for the geographic area indicated. Source: ARMLS Board of REALTORS and their Multiple Listing Service. Data maintained by the Associations may not reflect all real estate activity in a market.
RealtyExecutives
Keller Williams
West USA Century 21 ColdwellBanker
LiSTinGS
SoLd
186120202232339443995900
4.17%4.53%
5.00%
7.60%
9.86%
13.22%
RE/MAX Market Presence July 1, 2007 to June 30, 2008
RE/MAX Excalibur Properties Magazine is published four times per year by Media Publishers Group, LLC, 6360 E. Thomas Road, Suite 210, Scottsdale, Arizona 85251 (480) 584-3750. For questions or comments about RE/MAX Excalibur Properties Magazine, contact the Media Publishers Group at (480) 588-9505 or via email at [email protected].
Equal Housing Opportunity.RE/MAX® is a registered trademark of RE/MAX International, Inc.
Rick McCartney | PublisherMichelle Jacoby | Editor
Stephen Gamble | Graphic DesignConnie White | Photographer
Louise Ferrari | Operations ManagerDee Dee Hixson | Account Executive
Cami Shore | Account Executive
Excalibur Shea Office8510 E. Shea Blvd., Suite 100
Scottsdale, AZ 85260(480) 355-3500(888) 899-0496
Excalibur Ridge Office21803 N. Scottsdale Road, Suite 100
Scottsdale, AZ 85255(480) 850-5000(800) 736-2974
Excalibur Troon Office10458 E. Jomax Road, Suite 100
Scottsdale, AZ 85262(480) 344-4400
(800) 451-2811
Excalibur Fulton Ranch4921 S. Alma School Road
Chandler, AZ 85248480-883-9800
PubLICATIOn AdVISORy COMMITTEE
Howard Lein, Owner
Rol Johnson, Designated Broker
Kris Anderson, CLHMS, ABR RECS, CMRS, HI
Rick Berry Director, Career Development
Karen Grobman PC, GRI, e-PRO, CLHMS
Gayle Henderson, PC, CRS, GRI ABR, CLHMS
Tyler Lein, Manager
Dean Selvey, CRS, ABR
Steve Siverson, REALTOR®
Tom Tischer, Associate Broker, GRI
Volume 2 | Issue 2
Media Publishers Group6360 E. Thomas Road, Suite 210
did you know? The Sonoran Desert has five distinct seasons in the year: spring, dry summer, wet summer, fall and winter.
Bank-owned properties. It’s the new buzzword in real estate. Drive down any Valley neighborhood
and you’re sure to see “bank-owned” listed on a number of For Sale signs, signaling potentially the best bargain you’ll find on the market today.
Simply put, bank-owned properties are homes that have been repossessed by a government agency or lender due to non-payment of the mortgage. In many cases, the lender or agency simply wants to get rid of the property quickly—even if it means selling it a low price.
The ProsBank-owned homes are a hot
commodity for two major reasons: they are less expensive than conventional real estate and are inclined to be in reasonable condition. In addition, with today’s market saturated with a large number of bank-owned properties, buyers have the ability to choose a home that best suits their needs and requirements.
If you’re in the market to buy a home or property, you couldn’t be in a better position. Bank-owned properties are an excellent opportunity for anyone who wants to save money on their next real estate purchase. Whether you’re a homebuyer or investor, these offers allow you to
buy properties at a fraction of their market value. In fact, bank-owned properties are priced at up to 5 to 50 percent off their market value.
Another reason why bank-owned homes are sold
at below market value has to do with their condition. In some cases, the former owners were in financial trouble before their home was seized, meaning that some repairs have not been made. This disrepair pushes the price of foreclosure bank owned properties down further. However, in other cases, bank-owned properties require little more than a coat of paint and
some cleaning. These simple and inexpensive changes can save you thousands.
The ConsAlthough bank-owned homes offer
plenty of benefits, as with any major purchase, buyers should proceed with caution before purchasing. Every foreclosed property may not result in a great deal.
Before making an offer to the bank, do your research. Make sure that the price is competitive with other homes in the area and no more than the market value. Also, find out about the structural condition of the home. Since it costs more for the bank to maintain a home, they are looking for a quick sale. Know what you’re getting into from a repair perspective before making an offer.
The main thing you have to worry about when dealing with bank-owned
homes is the fact that they go so quickly. In many cases, by the time a potential buyer finds the home, finds out it’s available and schedules a time to see it, the property has already been sold. Even buyers who move quickly and place a bid on the home the day they see it might still run into the chance of not getting it.
The How-To’sWhen you make an offer on a bank-owned home,
you are still entitled to a home inspection by a qualified home inspector. Keep in mind that the bank does not want to make any repairs. Make sure your offer reflects this.
Another important point to consider is that if the property is in a homeowners association, make sure that the bank is going to pay all of the back dues and fines on the property as well as the back taxes owed. This normally is not an issue considering the title company won’t issue title insurance without these bills being paid. Also, make sure that the utilities aren’t going to hit you for back fees.
The best advice is to ask as many questions as possible. Don’t be afraid to start with a low offer, working your way up. The fact that the bank is desperate to make a sale gives you a substantial advantage. They may be prepared to sell the property for a bigger bargain than you first thought.
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Maricopa County has approximately a 13-month supply of inventory. This does not include all builder inventory,
only those specs that they choose to list in MLS. Source: Arizona Regional Multiple List all residential sales: homes,
townhomes, condos and manufactured homes included.
Residential Average Sales by CityJan. 1 to March 31, 2009
CITy SALE PRICE
Carefree $615,074
Cave Creek $388,678
Chandler $235,174
Fountain Hills $442,739
Gilbert $220,265
CITy SALE PRICE
Mesa $163,258
Paradise Valley $1,530,959
Phoenix $114,784
Scottsdale $492,407
Tempe $222,337
High Street at CityNorth in north Scottsdale.
Bank-oWnedWhat You need to Know About REO Properties
Money Watch
Mortgage Rate Outlook
With the economy in trouble and the declining housing market all over the news, it might surprise you that now is an excellent time to get a mortgage. Financial experts are saying mortgage rates will dip even lower in 2009, bringing up the question of whether it’s better to borrow now or wait for an even better rate. Here are some things to consider:
n Comparison shop – In a typical economy, one loan is pretty much the same as any other, since most interest rates on 30-year fixed loans are grouped within about a quarter of a percentage point. This is not so today. With the uncertain economy, lenders vary greatly in terms of how much risk they’re willing to assume in loaning money. This is why it’s important to shop around. Keep checking often, since home loan rates are continually in flux.
n lock in a fixed rate for a new loan – Disregard what you might have heard in less troubled times about the pros and cons of fixed versus adjustable rate mortgages. nowadays, you’ll always get the best deal on a fixed rate loan because this is the financial market that congress has designated for support. The time of securitized adjustable-rate mortgages has come to an end, so most banks don’t want to originate ARMs. Lenders no longer offer attractive rates on these risky loans.
n Keep your aRM (for now) – If you already have an ARM that is due for an interest rate adjustment soon, there’s no need to rush to get rid of it. Short-term interest rates have taken such a dive that you’re likely to actually see a reduction in your monthly payment.
n Monitor your finances – With Fannie Mae and Freddie Mac enacting stricter loan standards, your FICO score should be at least 720 to garner the best possible interest rate. For a large enough fee, however, both Fannie and Freddie will guarantee loans all the way down to FICO scores in the mid 600s. You may also need a 20 percent down payment.
One of the biggest hurdles for many buyers has been the tightening of lenders’ debt-to-income standards. Monthly mortgage payments can’t be more than 28 percent of gross income for Fannie or Freddie conforming loans, and all monthly debt payments combined can’t exceed 36 percent of a borrower’s gross income.
did you know? About one in three Valley residents play at least one round of golf a year.
new Tax Incentives and Lending Requirements
Thanks to attempts made by federal and state governments in the first quarter of 2009 to stimulate home sales, significant incentives for buyers seeking to take advantage of attractive housing prices have been created. Here’s a look:
American Recovery and Reinvestment Act of 2009
Included in the Federal Economic Stimulus Plan, the federal government has increased the first-time homebuyer tax credit—first implemented by the Housing & Economic Recovery Act of 2008—from $7,500 to $8,000 and removed the requirement that it be paid back. Homebuyers must have purchased a home after Jan. 1, 2009 and before Dec. 1, 2009 to be eligible for the credit, which only applies to first-time homebuyers purchasing owner-occupied homes and not investment properties.
State tax incentives
Many state governments are also enacting legislation that provides further tax incentives for prospective homebuyers. For example, the California state legislature passed a new-home buyer tax incentive in its 2009-2010 budget. According to this incentive, purchasers of new single-family homes that have never been previously occupied, as their principal residence between March 1, 2009 and March 1, 2010 will receive a tax credit equal to the lower of 5 percent of the purchase price or $10,000. Currently, new homebuyers in Arizona can only take advantage of the federal tax credit of $8,000.
Relaxed FnMA lending requirements investors
Federal government sponsored enterprises have also reached out to real estate investors by providing them with increased ability to leverage funds and purchase more investment properties. Beginning March 1, 2009, Fannie Mae (FnMA) increased the maximum number of permissible financed properties from four home loans to 10 home loans for borrowers seeking to purchase non-owner occupied properties. Investors attempting to take advantage of this policy revision must: have a 720 FICO score or higher; show funds in reserve to cover six months of future payments; pay a 25 percent down payment; have no history of foreclosure or bankruptcy; have no delinquent payments within 12 months; and provide full documentation of all rental income.
Time will only tell as to whether these incentives will revitalize home sales, in turn stabilizing housing prices and the economy as a whole. Low housing prices and interest rates combined with these new measures are clearly creating a housing market ripe for prospective buyers.
09 | Spr ing | PROPERTIES MAGAZINE | 7
Ask the ExpertsBuyers and sellers ask the questions you want to know
Enter to WinE-mail your real estate questions to [email protected] and enter to win a $50 Green and Conservation Kit from column sponsor Energy Green Pro Inc.
Each question will be personally answered and posted on our Web site blog, with one winner selected from each category. The winning questions will be published in
our quarterly magazine. Energy Green Pro Inc. www.energyproaz.com (480) 452-3760
Q: What are the chances in a market like this that I can sell my property on my own?
A: You may think it might not seem necessary, but by using a licensed Realtor, you have someone to protect your interests who’ll guide you along the right path. A real estate professional…
n …knows about new developments that might affect a property’s value. A good Realtor will know of proposed new developments that might affect different properties in which a buyer is interested. Whether these developments are positive or negative can be valuable information when weighing different housing options.
n …can find potential problems with a property. It’s always a good idea to have a home inspector look at a potential house. However, a Realtor is a good first line of defense to see if a house has inherent problems. A Realtor can also know about common problems, such as foundation or electrical, that affect a particular neighborhood.
n …understands contract specifics. Whenever you buy or sell a house, you are entering into a large personal transaction. It helps to have someone on your side that deals with these types of transactions on a daily basis.
n …helps save time when looking for listings. Looking for listings without an agent can take up large chunks of time. When looking with an agent, you can see several homes in a few hours. When going it alone you have to call the listing agent for each house and wait at the house for the agent to arrive and open up the house.
8 | P R O P E R T I E S M A G A Z I N E | Spr ing | 09
did you know? With a population of over 1.5 million, Phoenix is the fifth largest city in the country and the largest capital city in terms of population.
*Although Maricopa County averages a 13-month inventory supply, most of these communities averaged well under a year with many averaging between 5-9 months supply. In other words, if no new homes came on the market, it would take the market, at its current pace, 5-10 months to absorb all of the homes on the market.
Avg. Sales List/ Apprx. $ per Price Sale Ratio sq.ft. sq.ft.
CAVE CREEk
Tatum Ranch $273,761 96% 2,192 $125.93
CHAndLER
Cooper Commons/Cooper Corners $225,871 94% 2,526 $89.71
Warner Ranch $226,250 96% 1,510 $151.81Valleywide $168,714 94% 1,921 $79.98
Sampling of eaSt Valley communitieSSales from Jan. 1 to March 31, 2009
Comparisons of single family homes only in these communities
It’s no secret that the real estate market has been nothing less than challenging for anyone trying to sell a house during the last few years. However, hope still remains for those in the know about the great benefits
of home staging. Home staging is simply the art of preparing a home to appeal to the largest
group of buyers through the careful use of furniture, lighting, art, accessories and color to accentuate the positives of the property.The fact is a house that is priced well and shows well, will sell…even in a down
market. Putting your house on the market without staging it first is like showing up to a job interview in your pajamas. Your home might have a ton of great features, but if you haven’t
staged it, you are just selling buyers on why they should buy the next house.If you are looking at staging your home before putting it on the market,
here are a few areas to focus on:Maintenance – Don’t leave basic maintenance work for new
buyers. They are looking for a home that is problem-free and ready to move into. A home clearly asking for maintenance work is an immediate turn off. Also, some maintenance work can cover the normal wear and tear signs as well.
outlook and doorway – First impressions contributes a lot towards the final decision of approval or rejection. You need to spend most of your time on improving the exterior and entrance of your home. The buyer should feel at home, the moment he or she arrives.
Cleaning and decorating – Cleaning is perhaps the most inexpensive thing you can do to increase your property’s price. Painting, another low-cost option, can also do wonders. Remove family pictures or personal belongings from the shelves. The goal is to make they buyer feel at home, not that they’re violating someone else’s privacy.
Furniture and accessories – This is a must for newly built homes, which are not occupied. Rent furniture or carpets to make it look like a home. Adjust the furniture wisely—smart furniture arrangements can make a room look bigger and more open. Design rooms to express their use, like bedrooms, a study room or dining room. This will make the decision-making much easier for the buyer.
The Art of Home Staging
Help is on the WayNeed a price on a Valley home? Call the RE/MAX Excalibur Home Hotline!
Imagine driving through a community and spotting a home for sale that piques your interest. You dial the number on the yard sign to find out the sales price and are immediately greeted by the company’s voice mail system. Frustrating? not anymore.
RE/MAX Excalibur has introduced a 24/7 information service that’s designed to help you get instant information on any MLS listed property in the Valley. Best of all, you don’t have to wait for an agent to pick up the phone or even call you back.
Simply call the hotline, enter the address of the home in question or the MLS number and the Excalibur Hotline will do the rest. In addition to vital
information on the home, the hotline will quote a monthly payment, send a copy of the listing to you and even give you the opportunity to speak to an agent. However, if all you want is the cost of the home, no problem!
Shop for homes all over the Valley without ever speaking to an agent. Excalibur Home Hotline is the ultimate real estate shopping tool, giving you complete control of your time. It’s fast, convenient and highly confidential.
Try this latest convenience tool in real estate and find some outstanding values in our Valley of the Sun. Call the Excalibur Home Hotline at 480-374-1710 today!
09 | Spr ing | PROPERTIES MAGAZINE | 9
How to Stage Your Home for Sale
Value: How to Get It in Today’s Market
In real estate, “buy low” are the words homebuyers are sticking to and why not? Today’s real estate prices around have fallen to 2002 levels and with interest rates at historic lows, there’s never been a better time to invest in real estate.
As with any investment, the goal is always to buy at the best possible price. That makes today’s market a great one for homebuyers. In many areas throughout the Valley, prices are down as much as 35 to 50 percent from their highs in 2006. Financial experts, however, expect those prices to stabilize in the coming months, which means now is the time to buy.
In addition to the huge drop in prices, interest rates haven’t been this low in more than 50 years. What this means is that you’ll be locking in incredibly cheap debt for up to 30 years on your home purchase. And every year the purchasing power of the dollar erodes due to inflation, you’ll be making an even small “real dollar” value mortgage payment. In fact, a recent study showed that if you purchased a home in 1972 using a 30-year fixed rate, your actual cost of borrowing after accounting for inflation was -1 percent.
It may seem difficult to consider making a huge investment in trying times like these. After all, everyday you turn on the TV or open the newspaper, you hear more bad economic news. The thing to remember is that the best deals are made when the buying pool is shallow. now is the time to invest in your family’s home and future.
p a R t i c i p a t i n g a S S o c i a t e S & t h e i R l i S t i n g S
09 | Spr ing | PROPERTIES MAGAZINE | 13
Richard Troxell
(602) 677-9491
www.AZRKTRealtyGroup.com
kate Ward
Your Premier Team602 481-5577
www.YourPremierTeam.net
Robyn Viktor
The Robyn & Louisa Team(480) 346-5327
www.PhoenixHomesAZ.com
Louisa Ward
The Robyn & Louisa Team(480) 346-5327
www.PhoenixHomesAZ.com
Steve Stevens
(480) 850-5000
Tom Tischer
Tischer Group(480) 231-0782
www.TischerRealtor.com
bill White
ABR, CRS, GRI(480) 850-5018
www.billwhiteaz.com
Connie White
CDPE(602) 653-9722
beth Steil
ABR(480) 326-0969
www.BethSteil.com
Real estate isn’t the only focus of RE/MAX Excalibur associates across the Valley. by partnering with local and national nonprofit organizations, associates are dedicated to giving back to the community. Here’s a look at some of their efforts.
Children’s Miracle networkDedicated to saving and
improving the lives of children, Children’s Miracle network raises funds for children’s hospitals across the United States. With 170 hospitals in its network nationwide, the organization is dedicated to helping provide life-saving research and quality medical care for children with injury and disease.
In the Valley, Phoenix Children’s Hospital is the beneficiary of the organization’s fundraising efforts with 100 percent of the money raised by local sales associates going directly to the hospital.
Through RE/MAX’s Miracle Home Program, agents can make a donation to Children’s Miracle network through each home transaction. Since partnering with the organization in 1992, RE/MAX has raised more than $85 million across north America, making them the organization’s second largest sponsor. For information, visit www.childrensmiraclenetwork.org
komen Race for the CureAs the world’s largest grassroots
effort to fight breast cancer, Susan G. Komen for the Cure has been synonymous with bringing people from all walks of life together to end this terrible disease.
With its “RE/MAX Racing for Life” slogan, RE/MAX is a co-sponsor of the national Series Breast Cancer Survivor Recognition Program at Komen Race for the Cure events. And, in 2007, RE/MAX launched a program giving RE/MAX sales associates the opportunity to make a donation to Komen for the Cure with every home sold. For information, visit www.komenphoenix.org
Sentinels of Freedom Scholarship FoundationCreated by Mike Conklin, the father of three Army Rangers, the Sentinels
of Freedom Scholarship Foundation helps severely wounded U.S. veterans return to lives of self-sufficiency and independence after initial physical rehabilitation. Throughout the four-year program, volunteers work with the veteran, assisting with housing, transportation, education, job training, employment and other needs.
The scholarship is part of RE/MAX Tour for the Troops, a sponsorship program dedicated to supporting America’s troops. For information, visit www.sentinelsoffreedom.org
RE/MAX Gives back
HANDS-ON! EDUCATIONAL! FUN!215 North 7th Street Phoenix, AZ 85034 602.253.0501
www.childrensmuseumofphoenix.org
COMEPLAY
TODAY
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HANDS-ON! EDUCATIONAL! FUN!215 North 7th Street Phoenix, AZ 85034 602.253.0501
www.childrensmuseumofphoenix.org
COMEPLAY
TODAY
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The Valley
did you know? The city’s light rail system offers a fast and convenient transportation link from the airport to downtown Phoenix, with stops at the convention center and several downtown hotels.
a n i n t R o d u c t i o n t o t h e V a l l e y o f t h e S u n
09 | Spr ing | PROPERTIES MAGAZINE | 15
nestled in the heart of the desert Southwest, the Valley is a dynamic area filled with all the qualities
people are looking for in a place to call home. From family-friendly bedroom communities to metropolitan urban areas, the Valley has it all.
Phoenix makes up the Valley’s central core, with four distinct regions—northeast Valley, southeast Valley, northwest Valley and southwest Valley—making up the surrounding areas. The west Valley is made up of brand-new communities and developments, appealing to young couples and families. Home to the University of Phoenix Stadium and Jobing.com Arena, the area is quickly establishing itself as the Valley’s premiere destination for sports and entertainment.
The east Valley is made up of the Valley’s more established communities. Over the years, cities like Tempe, Gilbert and Chandler have evolved from small farming communities to sprawling developments offering the best in desert living. Meanwhile, Scottsdale — with its world-class golf, luxury resorts and spas, and incomparable shopping and dining options — continues to be synonymous with luxury living.
When it comes to getting around the fifth largest city in the country, commuters have access to an easy-to-navigate freeway system that connects the Valley’s
regions. Interstate 10 and U.S 60 connect the city east-west, while Interstate 17 and SR 51 connect north-south. Loops 101 and 202 form a convenient loop around the metropolitan area.
As much as Valley residents rely on their vehicles, the city’s public transportation is rapidly expanding. To keep up
with growth, voters approved a tax in 2004 that will raise approximately $9 billion from 2005 to 2025. Add to that state and federal transportation funds, $17.6 billion in funding will go towards expanding the Valley’s transportation system.
The newest addition to the Valley’s transportation system is the METRO light rail system, which launched in late December. With a 20-mile route extending from Mesa to uptown Phoenix, METRO is made up of 28 stations, eight park-and-rides and five transit centers for bus connections. An estimated 26,000 boardings are expected per day.
METRO light rail will connect passengers with some of the most significant venues in the Valley, from the Phoenix Art Museum and Chase Field in central Phoenix to Tempe Beach Park and Sun Devil Stadium in Tempe. METRO will also make stops at Phoenix Sky Harbor International Airport.
This time of year sees incredible weather and a host of outdoor activities. With average temperatures in the mid- to high-70s, residents enjoy all that the Valley is known for, including great golf, wonderful hiking and outdoor events including culinary festivals, art walks and desert adventures.
Valley Living
Source: City of Phoenix
Incorporated: 1881
Population: 1,567,45
Area (square miles): 517.8824
Avg. household income: $64,923
Avg. annual temperature: 74.2
Avg. precipitation (inches): 7.66
Avg. number of days of sunshine (annual): 334
Greater Metropolitanp h o e n i X | S c o t t S d a l e
16 | PROPERTIES MAGAZINE | Spr ing | 09
MAP
09 | Spr ing | PROPERTIES MAGAZINE | 17
Excalibur Troon Office 10458 E. Jomax Road, Suite 100 Scottsdale, AZ 85262(480) 344-4400(800) 451-2811
Excalibur Ridge Office21803 N. Scottsdale Road, Suite 100 Scottsdale, AZ 85255(480) 850-5000(800) 736-2974
Excalibur Shea Office 8510 E. Shea Blvd., Suite 100 Scottsdale, AZ 85260(480) 355-3500(888) 899-0496
Excalibur Fulton Ranch 4921 S. Alma School RdChandler, AZ 85248480-883-9800480-883-9804 fax
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ParadiseBACKYARD.is in
your
Pools & Spas
Water Features
Unique Decking
Stonework
Firepits & Fireplaces
NOW OFFERING:
SPECTACULAR LANDSCAPEAND HARDSCAPE DESIGN
Mossman Brothers Pools9382 E BAHIA STE. B102
SCOTTSDALE, AZ 85260480-596-9020
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did you know? Scottsdale and the surrounding area host an estimated 12 million rounds of golf a year.
Collectionl u X u R y h o m e S p R i c e d a t $ 1 , 2 0 0 , 0 0 0 o R a B o V e
09 | Spr ing | PROPERTIES MAGAZINE | 19
uniquely suited to the most distinguished clientele, RE/MAX Collection offers some of the most
prestigious properties available in the Valley. From pristine desert manors to luxurious golf course estates, these exceptional homes are reserved for the most discerning homebuyer.
Launched nearly 10 years ago, RE/MAX Collection has since emerged as the leader in high-end properties, catering specifically to the upper tier buyer. Today, RE/MAX Collection is recognized for showcasing homes designated as “luxury,” or homes priced at three times the average sale price of local communities. RE/MAX agents make up more than half of all Certified Luxury Home Marketing Specialists (CLHMS) industrywide. They receive specialized training in meeting the needs of distinguished clientele and are experts in handling elite properties. Credentialing and continuing education combined with experience separates the RE/MAX real estate associate representing luxury buyers and sellers from the mainstream Realtor in the marketplace.
In the RE/MAX Collection program, customized qualities include more discreet signage, unique marketing materials, special skill-sets for marketing and negotiation, sponsorship of special credentialing, and media opportunities in luxury magazines, Web
sites and news publications aimed at development of the luxury market.
The program has truly created a brand for RE/MAX, one of the most valuable aspects of marketing any product. no one is more familiar with the power of a brand than RE/MAX International, considered by many to be one of the most recognizable brands in America, if not throughout the world.
With a strong international network and ongoing referral system from agent to agent, RE/MAX associates in the luxury market are able to easily market their listings to luxury associates worldwide. RE/MAX has earned the right to say with pride, that “nobody in the world sells more real estate than RE/MAX.”
Area Avg. sales price List/sell ratio Avg. sq.ft $/sq.ft
Carefree/Cave Creek $1,350,000 85% 5,820 $266.16
Fountain Hills $1,635,714 82% 5,964 $287.90
Mesa $1,742,167 86% 6,723 $257.79
North Scottsdale $2,127,265 85% 5,643 $354.91
Paradise Valley $2,252,057 86% 6,122 $361.11
Phoenix $1,899,133 91% 5,406 $346.63
Scottsdale $2,000,846 86% 5,552 $343.25
Valleywide $1,951,520 86% 5,712 $336.10
Just the Stats: Luxury Home Market (over $1.2 million)
Sales reflect Jan. 1, to March 31, 2009 Arizona Regional Multiple List.
t h e R E M A X C O L L E C T I O N
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EPDC ,REHCSIT MOT | 2870-132-084 | moc.rotlaeRrehcsiT.www
ETATSE NACSUT
# SLM 5847314
gnirutaef saera gnivil eguH.etag ytiruces etavirp dniheb egarag rac 4 .srood nori thguorw suoegrog hguorht tol erca 2 a no 80 ni emoh tliub motsuc gninnuts siht retnE etavirp htiw dezisrevo smr llA .dooh motsuc & potkooc sag eguh ,lppa SS gnikiV/w nehctik temruoG .lprfi enots arretnac ,gnidluom nworc ,enitrevart denrettap iasrev ynoclab & mr dwp,rdb ni lprfi/nehctik lluf/w emoh tseug tf qs 0021 .tesolc motsuc &,tedib,rwhs ni klaw,but dettej ,htab rtsm ekil aps suoicaps htiw taerter rtsM .shtab
scottsdale15500 n. greenway-hayden2 blocks east of scottsdale rd.(480) 367-9700
gilbert2244 e. williamsfield rd.san tan village next to best buy(480) 289-6400
paradise valley12419 n. tatum blvd. n.e. corner of cactus & tatum(602) 996-8100
outlet center23616 n. 19th ave.north of pinnacle peak(623) 344-5555
family owned and operated since 1979 | nationwide shipping & delivery | 100% satisfaction guaranteed
visit us on the web at:todayspatio.com
in recent years, the real estate market has been experiencing a downturn due to external economic forces and the negative
effects of an volatile real estate boom. But as negative as these conditions may sound, the market is actually quite favorable for many potential homebuyers.
If you have been giving any consideration to buying a home, now is the time to do it.
There are a number of reasons why we find ourselves in a “buyer’s market.” With lenders tightening underwriting requirements, the pool of potential buyers has been reduced. In turn, this has caused sellers to bring down their prices and be more open to concessions during negotiations.
Another reason is that there are more homes for sale on the market. As the number of homes available for sale increased against a decreasing pool of potential buyers, further downward pressure was placed on pricing. In addition, this has forced sellers to make updates and other improvements to their homes to make them more viable in the current market, again benefiting the buyer.
Finally, mortgage interest rates have been significantly reduced in an effort to stimulate the real estate market. In addition, lenders are offering incentives like greatly reduced closing costs to drive new clients to their doors.
When it comes to affordability in today’s economy, the best bargains are foreclosures. Available at prices well
below market value, foreclosures can give the potential buyer more house for their money.
Buying a foreclosure, however, takes a little more research and discipline than the average home sale. Potential buyers should resist impulse buys when it comes
to foreclosures. The rule of real estate says it’s too good to be true until you’ve seen the property and the results of the property inspection. Although the deal may be tough to pass up, keep in mind that you’re buying the property as is and any repairs necessary repairs will be your responsibility.
Homes
09 | Spr ing | PROPERTIES MAGAZINE | 31
Area Avg. sales price List/sell ratio Avg. sq.ft. $/sq.ft.
Biltmore $369,900 91% 2,178 $163.55
Carefree/Cave Creek $402,461 94% 2,617 $151.92
Chandler $241,536 95% 2,234 $107.01
Fountain Hills $406,621 93% 2,520 $161.82
North Scottsdale $537,676 93% 2,929 $186.39
Paradise Valley $733,319 91% 3,499 $214.36
Phoenix $109,213 95% 1,612 $61.39
Scottsdale $425,507 93% 2,515 $166.33
Valleywide $157,799 95% 1,953 $76.24
Sales reflect Jan. 1, to March 31, 2009 Arizona Regional Multiple List.
Just the Stats: Home Market (under $1.2 million)
did you know? From 1990 to 2005, Arizona’s population grew by a 15.8 percent compared to the United States, which grew in population by 5.3 percent.
h o m e S p R i c e d a t $ 1 , 1 9 9 , 0 0 0 a n d B e l o W
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shtab 5 / smoordeb 5 / .tf .qs 1744 .xorppA
$ TA DEREFFO 999,998
SENOJ YMA 7583-052-084
moc.ZAslleSymA.www
GNIVIL YRAROPMETNOC
-ELAS-TROHS a ,hsiT llaC .qer lavorppA redneL trepxe rof ,trepxE ytreporP dessertsiD defiitreC ro selas trohs gnilles ro gniyub nehw noitatneserper flog detag a ni si emoh gninnuts sihT .serusolcerof
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EPDC ,REHCSIT MOT 2870-132-084
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h o m e s | SCOTTSDALE north ~ surrounding areas ~ tempe
We’re a fair housing provider. 09 | Spr ing | PROPERTIES MAGAZINE | 39
SCOTTS
DALE
NORTH
SURROUNDIN
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09 | Spr ing | PROPERTIES MAGAZINE | 41
Condosh i g h R i S e S a n d l o f t S
with Valley real estate prices at an all-time low and numerous bank-owned properties on the market,
buying a home has never been easier. Lately, more and more real estate buyers are opting for high-rise condos over buying a home.
The Phoenix real estate market as a whole has recently seen an incredible increase in high-rise condominiums. Perhaps the greatest dilemma buyers face is whether to buy a condo or a home. Buying a high-rise condo enables you to live in or near the city and have access to all its conveniences. If you love being within walking distance of restaurants, festivals, theaters, clubs and even possibly your workplace, a high-rise condo might be perfect for your needs.
Living in the city can be exciting and convenient for singles or young married couples just starting out. Condos can also provide a home solution for single-parent families or retired couples seeking a place to call their own who don’t want all the typical hassles of home ownership.
Also, if the thought of landscaping ruins your day, then you’ll be glad to know that there are no landscaping duties with condo living. You won’t have to cut grass, plant flowers and shrubs, or even water the lawn.
Another advantage of buying a condo is that you can sometimes find a condo the same size as a
home, with several bedrooms to accommodate small families. Some condos offer just as much square footage or more than a home of equivalent value. You can also increase your buying power with some condo purchases, and pay up to 20 to 30 percent less than you would pay for a home of similar size. When speaking with a Realtor, be sure to emphasize your need for square footage if this is important to you. The Realtor can then refer you to only those condos that fit your needs.
When buying a condo, you get to share the costs of upkeep for things like roofing, heating and air, foundation, lawn care, plumbing, etc. The costs for these maintenance services are divided amongst owners, and the costs per family go down tremendously due to sharing the costs. This can save you money on your overall monthly expenses, and it frees your time to do other things when you don’t have to worry about these aspects of home ownership.
did you know? With an average age of 34, greater Phoenix is the fifth youngest metro region in the country.
Just the Stats: Condos, High Rises and Lofts
City Avg. sales price List/sell ratio Avg. sq.ft. Avg. sq.ft.
Biltmore $191,437 94% 1,202 $143.05
Chandler $113,389 95% 1,135 $97.80
Fountain Hills $206,561 94% 1,514 $133.61
Phoenix $113,342 93% 1,174 $87.76
Scottsdale $231,417 95% 1,384 $160.33
Valleywide $135,373 94% 1,257 $100.88
Sales reflect Jan. 1, to March 31, 2009 Arizona Regional Multiple List.
!DEHSINRUF & EDISLOOP
# SLM 0731114
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Located in northeast Phoenix along the western border of north Scottsdale, Desert Ridge is a
family-oriented planned development offering a variety of communities. Residents enjoy a number of amenities, including schools in the Paradise Valley Unified School District, community parks, nature trails and recreational activities. However, it is its retail and commercial center that Desert Ridge is known for. Desert Ridge Market Place is a unique open-air shopping center that offers established retailers and specialty boutiques, as well as an assortment of dining and entertainment options. north of Market Place is the JW Marriott Desert Ridge Resort & Spa, a luxury hotel featuring a world-class spa, championship golf and fine dining.
Desert Ridge
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With three championship golf courses, a luxury resort and upscale urban retail center making
up its central core, Kierland offers exceptional community living in close proximity to some of Scottsdale’s most recognized destinations. The 730-acre master planned community offers a variety of living options, from townhomes to single family homes. However, it’s the area’s loft and high-rise living that make Kierland the ultimate place to live, work and play. Residents enjoy the best of both worlds with a variety of outdoor recreation activities just steps away from the area’s retail hub, Kierland Commons, an upscale urban shopping center filled with signature retailers and fine dining options.
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We’re a fair housing provider.
SWODAHS ELADSTTOCS
# SLM 2273014
taerG nepO .TSENIF s'ti ta gniviL troseR eladsttocS lanogaiD .NED a dna smrdb 2 .nalP roolF mooR eguH .shtab dna saera cfifart hgih lla ni eliT cimareC
loop ytmmc ,sinnet ,sthgiN onisaC .ynoclab weiv
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$ TA DEREFFO 009,951
NOSREDNA SIRK 3012-765-084
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TS TEKRAM TA EGALLIV
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traeh eht ni nalp roofl suoicaps gnireffo odnoC yruxuL dna tniap lartuen ,sretnuoc etinarG .hcnaR CD fo .egarots/w yrdnual ezisrevo ,evocla ksed ni-tliub ,teprac
did you know? Projections for greater Phoenix show the region is expected to grow by nearly 60 percent by 2030, bringing the population to more than 6 million people.
Landt h e V a l l e y ’ S B e S t V a l u e
in Maricopa County today, there are literally thousands of lots on the market. In some areas,
prices are similar to those six and seven years ago, although they are not anticipated to remain that way much longer and increases may be on the horizon.
Buying land is one of the most difficult and most expensive investment decisions you’ll ever make. Like every other investment on the market, land purchases do come with their own fair share of risks. Real estate is a high-risk, high-reward investment project. If you don’t take risks, you would end up with an investment that does not make you richer or more financially fulfilled.
Land purchases are intimidating, but there are ways to get around the hassle and the stress of buying land. Here are some ways to get the best rewards out of high-risk land purchases:n Buy the best land you can afford. Cheap land will
get you nowhere. By the time you’re able to sell the land to an investor, or if you have enough money to develop the land on your own, you need prime property. Choose land that is accessible
to roads, commercial establishments, and other places that make it a convenient, prime choice. It also helps to buy land with a good view of the surrounding environment.
n Prepare to spend. Land does not come cheap. Prime property can run up to hundreds of thousands of dollars, and competition can get very stiff. You need to make your bid competitive, but make sure that you don’t short-sell
yourself in the process. negotiate a very competitive price that you and the seller are happy with.
n Read up on the latest news. While land is permanent, it doesn’t mean that the investment does not devalue. Keep yourself abreast of the latest real estate investment news. You never know when the real estate market is going to take a tumble.
n Know when to buy, know when to sell. While having a lot of land seems like a good idea, there are times that you can make a good profit when you sell some of your assets to buy a better piece of real estate. Often it’s better to sell some of your real properties when you found land for sale at a superior location.As we begin to see the housing market turn
around, land values will follow suit. Realtors who specialize in land indicate that buyer inquiries on land availability are increasing, more activity has been generated and, overall, there has been more buzz about the land market.
The fact of the matter is that we may never see land values like this again. Once the land supply is depleted, it is gone.
Just the Stats: Land
Sales reflect Jan. 1, to March 31, 2009 Arizona
Regional Multiple List.
City Avg. sales price
Carefree/Cave Creek $343,333
Scottsdale $452,295
SREDLUOB ARREIS
ni etisemoh a eruces ot ytinutroppo ralucatcepS tnadnubA .ytinummoc detag lufituaeb siht epolevne gnidliub egral yrev a htiw sweiv niatnuom
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ORERREUG HPESOJ 2311-047-206
SETATSE ODARP
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ot sweiv detcurtsbonu sreffo ,esenoreV ,9 toL sthgil ytic gnilkraps dna kcab eht morf kaeP elcanniP gnidliub gnizama na gnireffO .tnorf eht morf
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TOL LAITNEDISER
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flog detag eht ni stol gniniamer wef tsal eht fo enO noorT ta "tnemunoM ehT" fo ytinummoc esruoc ytic ,kaeP elcanniP fo sweiv sah tol erca 24. sihT .htroN
.SOAN/noitategev larutaN .stesnus dna sthgil
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YELRAB EILASOR 6420-814-206
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TOL WEIV RALUCATCEPS
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$ TA DEREFFO 000,056
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TOL WEIV SUOLUBAF
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ni elbaliava stol tsal eht fo eno ot mialc ruoy ekatS daor etavirp yojnE .ytinummoc edisllih aseM siht ,sweiv htiw tol tafl FS 531,14 .xorppa siht ot ssecca
.semoh rallod noillim-itlum yb dednuorrus
$ TA DEREFFO 005,243
ORP-E ,SMHLC ,IRG ,CP NAMBORG NERAK 8860-886-084
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DETSIL TSUJ
neddiH detag ni sweiv thgil ytic cimaronaP taht ytinutroppo draykcab etavirp artlU .slliH seitreporp 71 ylnO .evreserp niatnuom ot skcab
.ytinutroppo taerg a - noitces siht ni
$ TA DEREFFO 000,983
NOSREVIS EVETS 1841-012-084
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SLECRAP 71 -DETAG
,retaW .setatsE laitalaP detaG ni slecraP 71 RO dliub ot uoy rof ydaeR ,reweS ,elbaC,yticirtcelE .tol hcae morf sweiV ntM dna thgiL ytiC .DLOH
larutan fo serca 7 ylraen fo stsisnoc tol citsejam sihT etatse motsuc etavirp a rof tcefreP .ecaps tresed sseldne dna epolevne gnidliub FS 000,05 revo htiw
.sthgil ytic dna niatnuom fo sweiv
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ORP-E ,SMHLC ,IRG ,CP NAMBORG NERAK 8860-886-084
moc.seitreporPtoHsanozirA.www
46 | P R O P E R T I E S M A G A Z I N E | Spr ing | 09
land | fountain hills ~ mesa ~ scottsdale ~ scottsdale north
We’re a fair housing provider.
STH ONIBAS ELADSTTOCS
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INICAC NOR 3971-515-084
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SCOTTS
DALE
NORTH
FOUNTAI
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MESA
SCOTTS
DALE
aps.com
SOLAR POWER: A SOLUTION THAT WORKS TODAYWith 300 sunny days each year, it’s no wonder more APS customers see solar energy as part of the solution to Arizona’s energy challenges.
And APS agrees.
Today, not only does solar make environmental sense, but with substantial rebates from APS,
for your home or business, installing renewable energy technology, such as solar panels or solar water heaters,
In fact, when you combine APS rebates with available State and Federal tax credits, you may be able to cut the cost of solar panels by up to half, even more for solar water heaters.
more energy independent by taking advantage of Arizona’s clean, abundant, and free sunshine, visit us online at www.aps.com/GoSolar today.
Must be in APS territory to be eligible. Limited funding is available so make your reservation today. Other government tax credits may also be available. This program is funded by APS customers and was approved by the Arizona Corporation Commission.
aps.com
SOLAR POWER: A SOLUTION THAT WORKS TODAYWith 300 sunny days each year, it’s no wonder more APS customers see solar energy as part of the solution to Arizona’s energy challenges.
And APS agrees.
Today, not only does solar make environmental sense, but with substantial rebates from APS,
for your home or business, installing renewable energy technology, such as solar panels or solar water heaters,
In fact, when you combine APS rebates with available State and Federal tax credits, you may be able to cut the cost of solar panels by up to half, even more for solar water heaters.
more energy independent by taking advantage of Arizona’s clean, abundant, and free sunshine, visit us online at www.aps.com/GoSolar today.
Must be in APS territory to be eligible. Limited funding is available so make your reservation today. Other government tax credits may also be available. This program is funded by APS customers and was approved by the Arizona Corporation Commission.
RE/MAX agents possess the skill and expertise it takes to make your real estate transaction a successful one, no matter what the market conditions may be.
RE/MAX Sales Associates average more experience than other real estate agents. And especially in today’s housing market, experience means everything.
So whether you’re buying or selling, RE/MAX can help you get the “Sold” sign you desire.
Nobody in the world sells more real estate than RE/MAX.
Visit remax.com to view more listings than ever before, and to connect with a RE/MAX professional in your area.