by Paul Slaybaugh | Jun 28, 2010 | Scottsdale Real Estate, This & That
“You mean, it’s ours? It’s really ours?”
They were so excited. Even after I handed them the keys, they were slow to believe that the modest Spanish bungalow was now in their adoptive custody. Over the course of four exasperating months, we must have seen and dismissed close to a hundred homes. This one needed too much work. That one had a poor kitchen layout. Yet another sat on the “t” of a subdivision’s entrance: bad feng shui, or so I was told. Before the market skies parted and yielded the seventeen hundred square foot, clay tile miracle that appeared to have met extinction in their price range, our flagging spirits were all but ready to pack it in. The May 5th, 2005 discovery saved them from another year of apartment living. A challenge, at best, with a ten year old daughter, let alone with a half-baked bun in the oven.
“Can we go in,” the wife asked in a small, cautious voice.
“Of course,” I responded. “It’s your house, Liz, you can do whatever you please.”
She ignored my extended hand and engulfed me in a fierce hug. Her husband clasped my shoulder in a vice grip which betrayed an adolescence spent laboring on the family farm in Iowa. His curt nod spoke volumes.
“You’re welcome, Mel,” I replied.
“Thank you both for hanging in there with me. I know it hasn’t been easy, and I can’t tell you how much I appreciate the patience and trust you’ve shown. It’s been a long, tough slog, but I think we got it right.”
“Yes, we did,” Mel said, breaking his silence for the first and only time that morning.
“We would like to have you and your wife over as soon as we get settled,” Liz added.
“I’d like that,” I told her.
I meant it, too. I like just about every client I take on, but felt a special kinship with this couple for reasons that surpassed the extended time spent in each other’s company. After bidding the happy couple farewell, I glanced in the rearview as I navigated my way down the tree-lined street. Instead of going inside, they remained rooted in place, holding hands and staring at their new home.
I received a phone call from Liz this morning. Turns out that Mel has been out of work for some time now, and they cannot afford to keep the house. Might have to move back to the Midwest and look for a position on the farm. See just what kind of life is left in those gnarled, old leather hands.
I hate this job sometimes.
by Paul Slaybaugh | Jun 26, 2010 | McCormick Ranch Subdivisions
Tierra Del Norte in McCormick Ranch is a small, u-shaped neighborhood that is often mistaken for the Paradise Park Trails subdivision that surrounds it. A pocket of only 21 homes, Tierra Del Norte was one of several subdivisions developed entirely or partially by Hancock (Camelot) Homes. With construction ranging from 1979-1993, the original models were similar to those Hancock / Camelot built in Vista De La Tierra, Palo Viento 2, Playa Del Sur, Paseo Village and Paradise Park Trails. In addition to a couple of hybrid plans (Hancock was one of the few builders in the McCormick Ranch area that allowed for a fair amount of customization at the time of construction), there are two homes built in the early ’90s that feature unique layouts.
View Home Floor Plans in McCormick Ranch for Hancock / Camelot Homes
Located along the Arabian Trail semi-circle East of Hayden Rd and bounded by Mountain View Rd and Shea Rd on the South & North, respectively, Tierra Del Norte in composed of single-family homes ranging from 2078 sq ft – 3572 sq ft. Following is the statistical lowdown:
- Average size home is approximately 2924 square feet
- All 21 homes are single-level
- 20 of the homes (95%) include private swimming pools
- The original homes in the subdivision were constructed with block, the newer construction with frame-wood
- 2 car garages are standard, but there are 3 car garage properties in the neighborhood as well
- Zoned R1-10 for single-family residential lots with 10,000 square foot lot minimums
- Lot sizes range from 10,792 – 21,447 square feet (approx 1/4 acre – 1/2 acre)
- Cochise Elementary, Cocopah Middle and Chaparral High School districts
Read more about the schools of the Scottsdale Unified School District
With ready access to the adjoining greenbelts, residents of Tierra Del Norte can follow Camelback Walk (McCormick Ranch walking path system) to get virtually anywhere in the Ranch. Cochise Elementary School and Mountain View Park are less than a mile away and accessible without having to cross a major street (the paths lead underneath Mountain View Rd). Further exploration leads an intrepid walker, jogger or cyclist to the 3 primary McCormick Ranch Lakes (Lake Angela, Lake Nino and Lake Margherite) and along the McCormick Ranch Golf courses. One could follow all the way to Tempe if so inclined. In the other direction, one could limp directly to the Shea complex of Scottsdale Healthcare (hospital) to get that bum ankle looked at.
Shopping and dining is readily accessible at the Mountain View / Hayden intersection (Joyful Chinese Dining, Ranch Pharmacy, etc), at the Via De Ventura / Hayden Rd intersection (The Melting Pot, Royal Barge Thai Cuisine, Zipps Sports Bar and Grill, The Village Roastery, etc) as well as the numerous establishments found along the Shea Rd and 90th St corridors.
Near it all, Tierra Del Norte is sometimes overlooked amongst more well-known subdivision names in McCormick Ranch. If a sizable single-family home on an equally sizable lot in the Northern portion of McCormick Ranch is on your wish list, I encourage you not to make the mistake of omitting this terrific neighborhood from your search.
Ready to do some more digging? Check out the latest homes for sale, customize your own McCormick Ranch home search, view floor plans, read the overview for McCormick Ranch, peruse additional subdivision spotlights and more through the below links!
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Homes For Sale in Tierra Del Norte of McCormick Ranch
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Search McCormick Ranch Homes For Sale
View McCormick Ranch Home Floor Plans
Learn More About McCormick Ranch
Whether buying or selling a home in McCormick Ranch, look no further than Ray & Paul Slaybaugh. With over 50 years of combined McCormick Ranch Real Estate expertise, we’re your huckleberries.
(480) 220-2337 | paul@scottsdalepropertyshop.com
by Paul Slaybaugh | Jun 25, 2010 | McCormick Ranch Subdivisions
Villa Hermosa is a mixed builder subdivision in the Northern portion (North of Via De Ventura) of McCormick Ranch. Bound by Hayden Road, Arabian Trail, Mountain View Road and the neighboring Estados De La Mancha subdivision, Villa Hermosa is favored by many for its proximity to Cochise Elementary School and Mountain View Park.
Originally developed by Metropolitan in 1979, the subdivision was completed in the mid ’80s by the builder, JA Smith. The differences between the two genres is readily apparent. Whereas the Metropolitan homes primarily feature composite (asphalt) shingle roofs and a mix of exposed block and stucco finished exteriors, the JA Smith homes typically boast a stucco finish with partial tile roofs and at least one vaulted ceiling. JA Smith homes in Villa Hermosa are also readily identifiable by the oversized picture windows that many sport in their front elevations.
View Home Floor Plans for Villa Hermosa
- There are 108 total homes in Villa Hermosa (all single level)
- 78 (72%) homes have private swimming pools
- The average house size is 2044 square feet
- Homes were constructed between 1979-1985
- Zoned R1-7 for single family residences with 7000 square foot lot minimums
In addition to the previously mentioned Cochise Elementary School, Villa Hermose falls within the boundary lines of the Cocopah Middle School and Chaparral High School districts – arguably the most sought after district trio in the state.
More About the Scottsdale Unified School District
Neighborhood amenities include ready access to Camelback Walk (the McCormick Ranch walking path system), Mountain View Park (tennis, soccer, basketball, baseball / softball, playground and recreational center), nearby shopping and dining at the Mountain View / Hayden Road intersection (Joyful Chinese, Ranch Pharmacy, Burger King, Circle K, etc) and access to the McCormick Ranch lakes that lie just West of Hayden Road.
The Metropolitan Homes tend to fall on the lower end of the neighborhood spectrum, while the JA Smith properties comprise the higher end pricing. That said, I will make the caveat that a few of the older Metropolitans have been taken virtually down to the ground and rebuilt over the years. Throw all the generalizations away on the builder/investor flips.
Latest Homes for Sale of Lease in Villa Hermosa of McCormick Ranch
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Learn more about McCormick Ranch
Search McCormick Ranch Homes for Sale
View McCormick Ranch Floor Plans
Thinking About Buying or Selling a Home in McCormick Ranch? Put Over 50 Years of Combined McCormick Ranch Real Estate Expertise to Work for You! Contact Ray & Paul today.
(480) 220-2337 | paul@scottsdalepropertyshop.com
by Paul Slaybaugh | Jun 24, 2010 | McCormick Ranch Subdivisions
Spanish Oaks is a gated McCormick Ranch townhouse subdivision that lies along the North side of McCormick Parkway. Adjacent to the newer Meridian on McCormick Ranch, across the street from the substantial HOA dues of the Sandpiper development and just East of the luxury Cuernavaca Segunda (Colonial Encantada) development, Spanish Oaks represents one of the more affordable townhouse options in McCormick Ranch.
Located along the aforementioned McCormick Parkway between Hayden and Scottsdale Roads, both directions of ingress/egress rival the Via De Ventura / Doubletree Ranch Road corridor for the title of prettiest stretch in the Ranch, if not all of Scottsdale. An easy stroll to the McCormick Ranch Golf Club, the Scottsdale Resort and Conference Center, Camelback Walk, Paseo Village shopping center and the Millennium Resort, the view of Camelback Mountain rising behind the golf course and the adjoining Camelback Lake is nothing short of spectacular.
Spanish Oaks Unit One Particulars:
- Comprised of 58 properties; 45 of which are single level, and the remaining 13 two-stories.
- Average unit size is 1664 square feet
- Each unit was built in 1979 (Diamond Key Homes)
- No private swimming pools
- Wood frame construction
- Primarily stucco finish with tile and partial tile roofing
- Multiple patios (most units have 2 to 3 separate patio areas)
Spanish Oaks Unit 2 Particulars:
- Comprised of 60 units; 49 single-level and 11 two-stories.
- Average unit size of 1639 square feet
- Units were built between 1979-1980 (Diamond Key Homes)
- No private swimming pools
- Wood frame construction
- Primarily stucco finish with tile / partial tile roofing
- Multiple patios
2 car garages are standard for both phases of Spanish Oaks. Golf course lots are available for the outer Eastern and Northern portion of the neighborhood’s perimeter. Zoned R-4 (both phases) by the city for 4000 square foot lot minimums, most properties sit on between 4000-5000 square feet of land.
There is a monthly HOA fee in Spanish Oaks in addition to the annual McCormick Ranch planned community fee. The monthly dues are actually quite reasonable when you consider the amenities include a manned guard gate (not the less secure automated type that is favored by most subdivisions), community pool & spa, common area maintenance, as well as front yard maintenance and pest control.
- Spanish Oaks lies in the Saguaro High School District (Kiva Elementary, Mohave Middle School)
Priced at the more affordable end of the spectrum for McCormick Ranch, Spanish Oaks represents a solid option for those looking at lower cost routes into the McCormick Ranch community, as well as for those stepping down from larger, higher maintenance properties.
Townhouses Currently For Sale or Lease in Spanish Oaks
The Railroad Park in McCormick Ranch
Thinking of buying or selling a home in McCormick Ranch? With nearly 50 years of combined experience in the McCormick Ranch Real Estate market, we’re your huckleberries.
(480) 220-2337 | paul@scottsdalepropertyshop.com
by Paul Slaybaugh | Jun 22, 2010 | Home Buying, Home Selling, Scottsdale Real Estate
So you have 20% to put down for a single family home in Scottsdale AZ. Your FICO scores are higher than Willie Nelson on Bob Marley Day in Montego Bay. You have been gainfully employed in the same W2 position with the same company for years. The American Express card with a $124 balance and the $112 payment on your 2002 Honda Accord make up the sum total of your earthly debt. Congratulations, you are one of the few buyers in today’s market in a position to call your own shots.
Surely the right play is to go the conventional financing route, right?
No private mortgage insurance, the lowest possible rate, less red tape than government sponsored financing vehicles.
From a strictly cost-based approach, all signs point to a nice, vanilla 30 year fixed conventional loan at a microscopic rate as the biggest no-brainer in the history of money.
Of course, as we have learned all too well, there is more to your choice in financing than today’s consideration. In fact, there is more to your choice in financing than even the total cost to you over the life of the loan. While we may not know where the market and its attendant values are heading, one fact is indisputable:
Interest rates will rise.
Maybe not today, maybe not tomorrow, but soon. Inflationary pressure makes it inevitable that rates will take off at some point. All of the warning signs are there. It will happen. Rather than banging the tired gavel of “buy today, rates on the way up,” let’s steer the discussion in a less self-serving direction.
Q: What is today’s buyer?
A: Tomorrow’s seller.
If you are buying a home in 2010, you need to consider the market forces that may shape 2015 or 2020. When we agents prognosticate, we tend to focus exclusively on home values. This is a fool’s errand. What we really should be thinking about is the buyer pool’s (in)ability to buy.
If interest rates manage to climb into the double digits in several years’ time, the difficulty of selling the property you are buying today may be compounded by a further contraction of able buyers. How does one counteract the specter of such a looming boogeyman? By going back to the future for familiar, but forgotten solutions to a similar problem.
What saved home sellers in the era of 18-20% interest in the ‘70s and ‘80s? Owner financing and assumable loans. For the purpose of this post, I wish to focus on the latter.
With the low to zero down conventional financing options in the market for my first decade in the business, it was a rarity to consummate a transaction with anything other than non-assumable financing. Now that FHA loans have forcefully elbowed their way back into the marketplace, however, assumable financing has returned. Most borrowers are not considering this aspect of the financing in the least, mind you. They simply jump on whatever they can qualify for that provides the least cost and lowest rates. I maintain that the assumable nature of a loan will be incredibly important moving forward.
While a new buyer would have to qualify for the loan to assume it, imagine how much wider your future buyer pool will be with such an option in place. Your 30 year fixed at 4.75% may not look quite as good to you if you find yourself in a position in which you have to sell your home in the midst of 12% interest rates. Not to sound the bell of an alarmist, but it’s not difficult to foresee a future in which many buyers who have migrated to the security of 30 year fixed conventional mortgages in the wake of the mess spawned by more creative financing find themselves imprisoned within those non-assumable safety nets.
Moving forward, your mortgage might not just be your mortgage. It could potentially be your future buyer’s. As such, when shopping for financing, there is more to consider than just the nuts and bolts of your own cost. Your mortgage could eventually prove either an enticement or a hurdle to a sale.
Heady stuff.
I will close with that which should have served as a preface: I am not a mortgage professional. DO NOT rely on my speculation in any manner when making a choice in financing. The nuances and new rules/regulations in the financial world are changing so fast that even those who wade in those murky waters on a daily basis are having a hard time keeping their raft of sanity afloat. For some, the internal debate is academic anyway, as there are qualification constraints on all financing types. Only your lender, with a full view of your financial picture can provide competent advice as to which programs you may ultimately qualify for, and which is the best fit for you. I do, however, want you to add this question to the typical inquiries about rates, fees, penalties, etc when speaking with your chosen loan officer:
“Is this loan assumable?”
I expect it will matter more than the attention it is currently being afforded in most Real Estate circles.
