RIP MILLER, Scottsdale Realtor Represents Buyer of Unique Luxury Home
Scottsdale, Arizona, 25, February, 2009 - Rip Miller of Russ Lyon Sotheby's International Realty located in Scottsdale, Arizona recently represented the buyer of a $2.5 million dollar home located in North Scottsdale, Arizona.
The property was originally listed for $3.5 million and situated on 1.25 acres in the northeast Shea corridor.
This privately gated estate is an entertainer's dream and met the buyer's criteria of a place to entertain family and business guests. The backyard is one-of-a-kind and is the perfect place to gather family and friends. The fun begins with a swim-up bar, outdoor kitchen, rain curtain, fire rocks, 2 fireplaces, 2 flat screen TV's, outdoor stainless Viking and Turbo appliances, heaters, and sport court.
The guest residence is about 1150 sq. ft. and offers two bedrooms and baths, and a greatroom with kitchen conveniences.
Warm interiors of natural stone, fresco's and custom details welcome guests into the main residence with 5 bedrooms, 5 1/2 baths, greatroom, formal living and dining rooms and office.
Beds/Baths: 7 / 7.5
Square Feet: 6,650
Rip Miller specializes in representing Buyers and Sellers of unique luxury homes in Scottsdale, Carefree and Paradise Valley Arizona.
http://www.premierAZhomes.com
Wednesday, February 25, 2009
Scottsdale market report - February 2009
My February 2009 Scottsdale Arizona Real Estate Monthly Report:
Homes listed for sale: Homes Sold:
Last year This year Last year This year
6463 5939 195 124
Not quite sure how to interpret the above data. January inventory levels shrank as sales were brisk in December. January data shows inventory rising again but I suspect it is merely adjusting back to where it headed in November before the holiday season. I will watch the next couple of months to see where the data goes and if inventory rises, flat lines or shrinks.
Homes priced under $400,000 have been selling briskly as homes are now priced where buyers who were not able to afford a home before are now able to at today’s reduced prices. Inventory in that price range has reduced to 13.2 months.
Additionally homes priced $400,000 to $1mm has seen inventory shrink as well. However homes priced over $1 million continue to be a real drag on the market as that price segment has appx. 60 months of inventory based on latest sales and inventory data available.
The over $1mm homes will have to continue to aggressively reduce prices over the next year if they wish to sell and reduce time on market which has a cost associated with it.
Conclusion: Buyers market but many of the cheaper priced homes have been picked over.
Rip Miller
http://www.premierazhomes.com/
Homes listed for sale: Homes Sold:
Last year This year Last year This year
6463 5939 195 124
Not quite sure how to interpret the above data. January inventory levels shrank as sales were brisk in December. January data shows inventory rising again but I suspect it is merely adjusting back to where it headed in November before the holiday season. I will watch the next couple of months to see where the data goes and if inventory rises, flat lines or shrinks.
Homes priced under $400,000 have been selling briskly as homes are now priced where buyers who were not able to afford a home before are now able to at today’s reduced prices. Inventory in that price range has reduced to 13.2 months.
Additionally homes priced $400,000 to $1mm has seen inventory shrink as well. However homes priced over $1 million continue to be a real drag on the market as that price segment has appx. 60 months of inventory based on latest sales and inventory data available.
The over $1mm homes will have to continue to aggressively reduce prices over the next year if they wish to sell and reduce time on market which has a cost associated with it.
Conclusion: Buyers market but many of the cheaper priced homes have been picked over.
Rip Miller
http://www.premierazhomes.com/
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