by Paul Slaybaugh | Mar 11, 2010 | Scottsdale, Scottsdale Neighborhoods, Scottsdale Real Estate
Just North of the Shea corridor, the guard-gated community of Scottsdale Mountain is one of the city’s Easternmost sentinels. Nestled in the foothills of the McDowell Mountains, this planned community was originally developed in the 1990s. With close proximity to the renowned Mayo Clinic and bordering Fountain Hills, Scottsdale Mountain manages to balance a more secluded locale with convenient access to all of North Scottsdale’s abundant amenities.
Comprised of primarily single-family homes, both mass production level builders and custom home sites are evident within its gates. Boasting scenic desert arroyos and mountain views to the North, those high up the hill with Southern facing back yards are treated to city light views at night. Ideal for both primary residency and lock and leave second home ownership, this terrific community is a must see for all lovers of peaceful desert living without the all the “who do I call if my house is on fire?” and “sorry I’m late, there was a bobcat in my driveway” remote locational concerns.
While floor plans for the custom properties are not readily available for distribution, please select plans below for the subdivision/builder of your choice for perusal. I’m partial to the Montereys and Edmunds, though I do have a soft spot for the Golden Heritages that sit on the natural washes and stare up at the majestic McDowells. I’m into that sort of thing.
Ready to find a Scottsdale Mountain home of your own? Scroll to the bottom of the page to view the live stream of the latest listings to hit the market!
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Horizons at Scottsdale Mountain | Maracay Homes |Plans 901-903 | Plans 904-950
Renaissance at Scottsdale Mountain | Ryland Homes | Mozart, Bach & Beethoven Plans | Picasso, Da Vinci & Rembrandt Plans
Saddleback at Scottsdale Mountain | Saddleback | The Latilla | The Mirador | The Portales
Scottsdale Mountain Estates | Geoffrey Edmunds
Scottsdale Mountain Parcels 11A & 11B | Monterey
The Terraces at Scottsdale Mountain | Geoffrey Edmunds | Ocotillo | Saguaro | Cassia
Westwind Estates | Golden Heritage
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Latest Scottsdale Mountain Homes For Sale
Ready to start your Scottsdale Mountain home search? We’re your guys.
Nobody knows Scottsdale Real Estate like Ray & Paul
(480) 220-2337 | paul@rayandpaul.com
by Paul Slaybaugh | Mar 8, 2010 | Home Buying, Scottsdale Real Estate
In many respects, the heralded Real Estate bargains to be had in Scottsdale and the greater Phoenix area should come with the disclosures required of weight-loss product testimonials.
“Joe Homebuyer’s results not typical.”
“Always consult a physician before launching an intensive home search program.”
“Stretch thoroughly and lift with your legs before attempting bank-owned property heist.”
For the purposes of this piece, we are going to focus on the first caveat. Every Valley resident has at least passing knowledge of some fortunate homebuyer who leveraged the current market to score a honey of a bank-owned deal. As big a nobody-turned-celebrity as the 170 pound guy in a Nutrisystem commercial holding up a pair of orca sized slacks as evidence of his former girth, Bob from accounting is the new gold standard for idolatry after securing the housing buy that set the office abuzz. Before following in Bob’s considerable footsteps, however, there are a few things you need to keep in mind. His results may not only prove atypical, but in extreme cases, constitute patently misleading advertising.
The hidden “gotcha” to many bank owned purchases right now are property taxes. While the institution that owns the property should pay off any back taxes as a condition of conveying clear title to the purchaser, many buyers fail to properly account for the bill they will be saddled with for the next couple of years (at a minimum). Unlike other parts of the country, where taxes are based solely upon purchase price, Maricopa County taxes are based upon the assessed value of the property. Many falsely assume that the home they are buying for $350,000 will reflect a tax basis commensurate with that value. As our budget revolves around 2 year property evaluation schedules, odds are very good that your current tax basis will reflect a value closer to the $1.1 million that the home sold for back in 2006.
*Click here for information about Maricopa County property taxes
*Maricopa County residents are entitled to appeal all new evaluations from the county assessor (typically go out in early Februaruy), but must do so within 60 days of the date they were mailed. Click to begin the Maricopa County property tax appeal process online.
Another thing to bear in mind is that while the assessed value of the property is likely to decline rather dramatically over the next several evaluation cycles, expect tax rates to rise in contrast. You should see an overall reduction to your bill in the future, but our strapped municipalities aren’t going to let go of all that revenue without a fight. Already firmly entrenched in the red, it is an almost foregone conclusion that the tax rates will be fully maxed out to legally allowable levels to offset as much of the lost potential revenue as possible. Your friendly, cash-strapped local government at work.
Another hidden sniper to these bank-owned bargains are Homeowner Association expenses. While monthly fees are typically disclosed upfront (or easily determined through a few well placed phone calls), former million dollar neighborhoods are fodder for massive asset preservation and capital improvement fees/impounds. You might well afford the $120 monthly fee, but the bulbous community enhancement fee that is due at the time of purchase could blow an unsuspecting buyer’s budget right out of the water. Given the many amenities that some such high end subdivisions boast, it would also be wise to expect and budget for future special assessments involving their maintenance.
There really are some amazing deals floating around the market right now, just make sure you can afford them. We are looking for a home you can maintain and afford, not a fad purchase that will lead to a lifetime of yo-yo budgeting.
You don’t want to end up back in the fat pants.
by Paul Slaybaugh | Jan 10, 2010 | Home Buying
It’s true. In Arizona, you will rarely get the keys to your new home at the closing table. Despite the fact that you wired in the balance of your down payment funds or marched a cashier’s check into the title company on what you thought was the penultimate day, the home is not yet yours. You see, unlike other parts of the country where all parties congregate around the closing table to officially finalize the escrow process, there are still a few remnants of hanging fire that must be doused before your new home is officially, well, your new home.
If you relocated from back East, you may be surprised to find the title officer and your agent (hopefully he/she is in attendance) as your only companions at signing. Buyers and sellers typically have separate signing appointments, so if your loan documents arrived at the title company three full days prior to the scheduled closing date, as stipulated in the boiler plate of the standard Arizona Association of Realtors contract, you might actually execute your portion of the documents before the seller does. Until both parties sign their respective closing docs, the property cannot be transferred. Even if the seller has signed off prior to your appointment, however, there are a few additional factors that preclude you from taking immediate possession of the property.
The closing appointment at which the buyer signs the loan documents is not technically the “closing” because of a few missing components. Most important among them are the funds from the lender. While you may have already brought in the balance of the funds required of you (down payment and closing costs), most lenders do not release their funds until they receive and review the loan documents that you sign at your closing appointment. Some lenders will “table fund,” meaning they will release the wire to the title company without review of the documents, but that is atypical. Needless to say, until the money from your lender hits the title company’s coffers, the moving truck you have scheduled is going to have to keep circling the block. From the time of your signing, it will usually take 24-48 hours for the lender to fund the loan. This, of course, assumes that there are no problems or discrepancies found in their review of the signed documents.
Okay, so you signed your documents, wired in your down payment and just learned that the lender has funded your loan on the scheduled day of closing. Woohoo! The house is finally yours! Now where’s that key? Not so fast. Even though it is tantamount to a rubber stamp, the title company still has to submit the deed to the county for recording. This is an automated process these days and is done en masse, but the home is not yours until we receive confirmation that the deed has been recorded. It is then, several days after you signed the paperwork and deposited your money that your Realtor shows up with your keys and a thousand watt smile.
The thing to keep in mind when considering the logistics involved in closing is that you will have nothing to do on the actual close of escrow date. The signing of documents and deposit of monies, if handled correctly, will be done in advance. Keep this in mind when discussing closing dates with your agent as part of the initial negotiation, as miscommunication (we agents sometimes forget that people don’t understand all of the minutia involved in the sale of property) might lead you to take the wrong day off work or schedule the movers incorrectly. Plan on being physically available two to three days prior to the agreed upon closing date (as it is stated in the contract) to do your part. Some people schedule the movers for the closing date, but this is a mistake. Because the home is not yours until it records, and there is no way to know whether it will record at 9 in the morning or 5 at night, you will save yourself a lot of potential misery by scheduling the truck a day or two later. With the recent delays that have been caused in many transactions by various, and dare I say, draconian changes within the lending industry, a little buffer is advisable.
Now that you have a handle on the closing process, we’ll backtrack a bit in the next installment of the Scottsdale Property Shop home buying series as we take a closer look at the inspection process in, “They Have to Fix That, Right?”
by Paul Slaybaugh | Nov 8, 2009 | Featured Properties, Scottsdale Real Estate
Update: This Home Has Sold! We Can Sell Yours, Too!
Just listed in the prime lake section of McCormick Ranch, this four bedroom Dix home boasts hardwood floors, new berber carpeting, new bathroom vanities with granite tops, wood-burning fireplace in family room, split master floor plan, heated pool & spa w/waterfall and drop dead gorgeous front and rear landscaping. Situated on an interior lot in the Cochise / Cocopah / Chaparral school districts, you are a quick stroll from the walking paths, lakes, golf, restaurants and parks that make McCormick Ranch THE premier in-town planned community in Scottsdale.
Priced for today’s market by sellers who actually plan to sell, not practice. That’s right, real people own this home and will respond in a timely and human fashion! People who have meticulously maintained and improved this quality home over the years and can actually provide disclosures and entertain reasonable repairs! I know, it’s crazy! They do exist! Check the comparables, even the dog-eared bank properties think we are underpriced.
Get the best of both worlds: The quality of a privately owned home for the price of a foreclosure!
8907 N. 80th Way
Scottsdale, AZ 85258
MLS# 4286279
2139 Square Feet
4 Bed / 2 Bath / 2 Car Garage
Pool & Spa
$469,900
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Ray & Paul Slaybaugh
Realty Executives
(480) 948-9450
paul@scottsdalepropertyshop.com
by Paul Slaybaugh | Sep 9, 2009 | Home Selling, Scottsdale Real Estate
You’ve been punched. You’ve been cajoled. You’ve been dismissed out of hand as a serious contender. Your corner wants to throw in the towel, but it’s time to look deep inside yourself for that fighting spirit. This is your Rocky moment, and I’m your Mick.
Tempting as it may be to utter “No mas,” in the face of a younger, stronger foe, you as a home seller have your own strengths. Yes, the bank properties have been hammering your rib cage and battering you with low blow after low blow for the last eleven rounds. Every time you regain your composure, another steel-fisted uppercut in the form of a new REO listing shatters the ineffective “pride of ownership” cup upon which you have been so dependant. The referee and the fight doctor are scrutinizing that nasty gash above your eye to determine if you are still able to intelligently defend yourself.
You’re seeing triple, you say? Buck up, Rock, and hit the guy in the middle.
Now that the free-fall in property values has seemingly arrested (much like the hearts of many homeowners this year) across several segments of the local Scottsdale Real Estate market, would-be sellers can take a deep breath and catch their second wind. Even if they are still leery of making the price jump from distressed properties to resale properties, buyers are back in the market. Several straight months of increasing home sales, decreasing inventory and even modest median price increases (really?) indicate this. That’s the good news. The bad news is that most of these buyers are still purchasing the goods on the ground floor (sporting goods, evening wear and foreclosed Real Estate) while the typical mom & pop seller continue to be priced on level four.
Before resale homes start selling at a higher rate, their prices still need to drift a little further South. This is not news. You’ve been pummeled with this unwelcome assertion for the past year. My intent is not to rabbit punch you with the obvious on this day. I’m offering a momentary reprieve from the infernal pessimism (which I have admittedly dispensed with impunity). No more defeatism from your corner, it’s time to talk strategy.
Yes, the bank-owned property on the far side of the ring is a fearsome opponent, but skill and guile can slay the relentless beast. You’ve been getting drubbed over the course of this bout because you are not offering your bigger foe any angles. You’re simply turtling up with that ridiculous price of yours and accepting a merciless beating. To change the tide in this lopsided affair, yes, you do need to get a bit more competitive with your price. Until you get inside the freakish reach advantage of the banks, you’re rope-a-dope tactics will just get you roped and doped.
This is not to imply that you need to match the price of the distressed properties, you simply need to vie for the same buyers. If the banks are on the ground floor, you need to get down to level two. If you can at least mitigate a portion of the huge price disadvantage you face, you have a puncher’s chance to sell your home. Here’s why:
- The bank property across the street will convey to the buyer in “as is” condition. You have maintained your home over the years and will make any necessary repairs, within reason, to appease a buyer.
- The bank property across the street will come with a grand total of zero disclosures. You will provide a potential buyer with a Seller Property Disclosure Statement, Insurance Loss History Report and any other appropriate documentation to give a certain level of comfort to the new owner.
- The bank property across the street may not be able to be financed by a buyer due to its condition. Because you have listened to your Realtor and whipped your home into tip-top shape, you will face no such problem. Right?
- The bank property across the street may require a buyer to order utilities turned on in their name (and pay any applicable deposits for said service) in order to inspect the working components of the home.
- The bank property across the street may ultimately attract multiple offers at its supremely low price. This can benefit you in several ways. For starters, the ultimate sales price is often driven higher than the list price in such scenarios, thus making your case for higher neighborhood values. Secondly, there will be despondent losing bidders for that property that will look, perhaps to you, for alternatives. Lastly, some buyers will become disenfranchised with bank properties after having gone through this multiple offer scenario several times. Eager for less competition and an honest negotiation, some just might set their sights on the slightly higher priced property that can be negotiated downwards instead of upwards.
So there you go, champ. You are far from a hapless tomato can against the oversized Palooka who has been doing the Ali Shuffle all over your face. He’s a one-trick pony. Take away the huge price haymaker and the kid is a regular Glass Joe. If you have the moxie and the wherewithal to get your price just a bit closer to the bank’s, you have the arsenal to pull off a stunning upset and walk out of the joint with the title. The title of “former homeowner,” that is.
Now put your mouthpiece back in, get off that damn stool and get in there and fight!
