Archive | February, 2012

Cap Rates Revisited

Cap Rates Revisited-Even Some Realtors Don’t Understand them!

One of the biggest problems with some realtors, commercial and residential, is that they make an attempt to utilize a Capitalization Rate (Cap Rate) to market a property without really understanding what they are.  After reading a listing that honestly I laughed at when I saw it, this blog was born so Cap Rates Revisited here we come.

Cap Rates are often misunderstood by a lot of people because it is a blend between what some people think of as return on investment, by a buyer of property and a mathematical determination of value by sellers of properties.  These are two separate ways of looking at properties and exactly opposite in their use.  Most buyers will look at what they can hopefully get back from the property in the way of net operating income and will want it to be a certain percentage of what they are paying for the property.  Some don’t bother to look at the alternative investment potential or the relative risk of the investment.   A capitalization rate tries to take both into consideration if it is assigned correctly.  What could you earn by investing it into something else.  I would look at and talk to investment advisers from several sources to try and find out.  Now risk is trickier.  Depending on what you are looking at, warehouses, retail strip malls, motels, multi-family complexes,…etc be sure you know what makes up the net operating income (gross income less operating expenses, but no debt principal and interest taken out).  Do you know if there are any physical characteristics of the property that are in need of updating?  What would it cost to bring the stalls, rooms, apartments, re-configuring space up-to-date?  If you want to read more about this please see my widely read blog What is a “Cap Rate” and What Does it Mean to Me.   Are the spaces leased and for how long?  Needless to say, the higher the risk, the need for a higher return to pay for what ever makes it risky.

Now from the seller’s side, this is where there is usually the biggest misconception.  A high cap rate is bad for the value you are trying to obtain for what you are selling.  If any realtor doesn’t know that just have them do the math.  A higher cap rate drives down the value of the property in order to make the net operating income produced, hit a certain rate of return for the buyer.  Bank are notoriously conservative because they are trying to protect the investors/stockholders of the bank.  Well they try to.  Most lending institutions will use the Federal Home Loan Bank Rates or the H.15 Treasury Constant Maturity Index as a base rate and add some margin essentially for profit.  Since the the loans they provide on commercial properties are generally short term, less than five years with an amortization of twenty to twenty-five years, that is what they look at to set the rates.  The current five year FHLB rate is 1.14% as of the date of this writing and the TCMI is 0.89% for the week ending 2/24/2012.  Now as you can imagine, the banks will more than likey have a base rate that they will lend at, in order to keep their doors open.  So let’s say that rate is five percent.  That would be their base rate for some property that has no risk.  So if you see something like the listing I saw that has a cap rate of 12.13%, the risk is significant.  This is not something to be proud of.

The bottom line is even if your realtor doesn’t understand what the cap rate represents, make sure you do.  There is a reason for a high cap rate and that’s what you have to find out.  Best of luck on your investing in commercial property.  There are some really good buys out there.

You can always let me know if you have any questions.

 

 

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Old Town Scottsdale Condominiums and Real Estate For Sale As They Last!

Old Town Scottsdale Condominiums and Real Estate For Sale As They Last!

Old Town Scottsdale is the place to go. Why? All the shopping they provide, all the restaurants, watering holes, art galleries and everything Old Town Scottsdale has to offer, makes Old Town Scottsdale the premier destination of “the valley of the sun”! Not to forget, spring training baseball in March. It comes to show Old Town Scottsdale really has something for everybody. For one, when you have all of those in one spot, why would you need a car? If you want to head to other areas of the valley, public transportation is just outside the door! That’s why many people want to live in Old Town Scottsdale.

How would you like to own a condominium in Old Town Scottsdale? Especially, if you are seeking a place that’s more modern and recently built. There are new condos still up for grabs. But, if you prefer resales, there are plenty of those available. All in all, there are several places and styles to choose from throughout Old Town. If you are looking for more of a contemporary condominium, Safari could be your place. If you want more of a Santa Barbara/Tuscan style, then you may consider The Sage.

Most importantly, my job is to will guide you in your condominium searching process, both resales and new. I have the sources to connect you with in your financing needs.

Old Town Scottsdale Condominiums For Sale / New or Resale:

 

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Click these following links below to view the active listings of these wonderful condominium communities:

Old Town Scottsdale’s Optima Camel View Condominiums For Sale:

Old Town Scottsdale’s Optima Camel View  Village Condominiums For Sale: 

Old Town Scottsdale’s Safari Condominiums For Sale:

Old Town Scottsdale’s Waterfront Condominiums For Sale:

Old Town Scottsdale’s The Mark Condominiums For Sale:

Old Town Scottsdale’s The Sage Condominiums For Sale:

If these condominiums are not your style or within your price range, there are many others to show you. The place to be is Old Town Scottsdale! 

Old Town Scottsdale Condominiums For Sale – Contact Jim!

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The South Lake Union Area is the Hottest Neighborhood in Seattle!

  The recent news of land purchase by Amazon has further fueled the excitement surrounding the explosive growth in South Lake Union.  The close proximity to the Downtown, Queen Anne, and Belltown is one of the main reasons for the location’s attractiveness but the relocation of big name companies such as Amazon, Microsoft, and many of medical and biotech companies are attracting more in city dwellers to the South Lake Union area in Seattle.   According to the recent article by Puget Sound Business Journal, “The neighborhood gained a total of 10,000 jobs between 2004 and the end of last year, for an estimated total employment in South Lake Union of 29,200 jobs.”  The area used to primarily consisting of old manufacturing buildings, run down gas stations, and businesses has received a complete makeover in just short few years.  Sleek commercial buildings, high rise condos, home to handful of Tom Douglas’s restaurants, yoga studios, retails, hotel, and much more.

South Lake Union area is what I typically call a high walkable area where a grocery, coffee shop, gym, and transportation are just short walk away.  The obvious appeal of city living is being close to all the action so the higher the walkability, the better.  This is very important to city dwellers as the need the commute becomes less attractive.  In addition, with the cost of city living and real estate typically being higher, the city dwellers are looking for ways to cut cost and commuting time.  As an example of green Seattle, South Lake Union is home to the Denny Park and Lake Union Park so you are only short walk away to enjoy the abundance of natural beauty this city has to offer.  The fastest growing area in Seattle will continue its rapid growth as more business and retailers recognizes the real estate appreciation potential and the need to provide service to the growing residents.

Contact me today if you need more information about the real estate market in the South Lake Union area or would like to start looking!

real estate in seattle

ABOUT CHRISTY KIM

 

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Low inventory in Las Vegas thanks to AB 284

According to the Greater Las Vegas Association of Realtors, the February inventory was down 41 percent from a year ago. As of yesterday, there were only 8,997 homes for sales in the MLS. Half, however, are already under contract.

Assembly Bill 284 requires lenders prove they can certify the entire chain of title. In English that means they have to know exactly who owned the house when. There have been so much chicanery the truth is no one truly knows. So, to be safe, the lenders will not sign the requisite affidavit because they don’t want to go to jail. (Literally.)

The law went into effect October 1. According to Ticor Title, lenders foreclosed on 3,233 houses in September. In October that number fell to 96.

The result: far less inventory. This was an unk unk (unknown unknown, to quote Tom Peters) consequence of trying to protect Nevada homeowners.

The legislature won’t meet until 2013 to change the egregious portions of the law. I predict we will see a lot more short sales because there is clearer title between true buyers and sellers.

My advice: if you want to move to Vegas in the next year or so, better start looking now while there is still something to buy. And expect more short sales!

((hugs))

BETH Ellyn

Managing Broker, Nevada

beth.rosenthal@exprealty.com

702.492.0531

beth.ellyn (Skype)

@yale1974 (twitter)

Read the full post on LasVegasWebofHomes.com

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Renting Real Estate? Why? Buying is still an option!

Renting Real Estate in Scottsdale / Phoenix

Today, the market for rentals here in the valley metro are hot these days. Many former home owners are in the recovery process after a short sale, foreclosure, or bankruptcy. Some are looking to rent because their credit is not good enough to qualify for a particular home loan.

If you are currently renting or looking rent, my question to you is this:

Why?

Did you have a recently have a short sale and other issues that forced you to rent?  Is your credit score not good enough to become a homeowner? Was there a death in your family that forced you to leave your current home? You may be surprised that you could be eligible to buy or even retain real estate! I can refer you to so many lenders, but I have one who is poised to work with you.

If you are seeking a home, you first may want to see if you are eligible to buy. This lender has 13 options to get you back into home ownership. One of the 13 options could mean you are eligible to buy! Plus, he will throw you a free appraisal, no application fees, and free advise to improve your credit in the long run!

Call Eric Rogers  at V.I.P Mortgage at (480) 553-8484 for all the details.

He and I are teaming up to assist you. He can advise you on improving your credit score and get you prequalified on a loan. I will assist you in getting back to homeownership again by finding that home that’s right for you. Keep in mind, rates have not been so low. Take advantage of the opportunities and let Eric explain to you the process.

Scottsdale Real Estate and Homes For Sale:

Showing properties 1 – 7 of 500+. See more city of Scottsdale real estate.
(all data current as of 2/23/2012)

  1. Photo of 31421 N 69th Street, Scottsdale, AZ 85262 (MLS # 4676108)
    3 beds, 3.00 baths
    Home size: 2,609 sq ft
    Lot size: 2.47 ac

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  2. Photo of 14908 E Dixileta Drive, Scottsdale, AZ 85262 (MLS # 4694659)
    3 beds, 2.00 baths
    Home size: 2,139 sq ft
    Lot size: 5 sq ft

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  3. Photo of 10315 E Acoma Drive, Scottsdale, AZ 85255 (MLS # 4629974)
    4 beds, 2.50 baths
    Home size: 2,797 sq ft
    Lot size: 6,050 sq ft

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  4. Photo of 10330 E Celtic Drive, Scottsdale, AZ 85260 (MLS # 4524803)
    3 beds, 2.50 baths
    Home size: 2,156 sq ft
    Lot size: 6,340 sq ft

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  5. Photo of 27828 N 143rd Street, Scottsdale, AZ 85262 (MLS # 4607466)
    4 beds, 4.50 baths
    Home size: 6,400 sq ft
    Lot size: 1.25 ac

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  6. Photo of 8476 E Cactus Road, Scottsdale, AZ 85260 (MLS # 4705744)
    4 beds, 3.50 baths
    Home size: 5,592 sq ft
    Lot size: 35,556 sq ft

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  7. Photo of 9626 E Kalil Drive, Scottsdale, AZ 85260 (MLS # 4706276)
    4 beds, 3.50 baths
    Home size: 3,250 sq ft
    Lot size: 1.16 ac

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Listing information deemed reliable but not guaranteed. Read full disclaimer.

Scottsdale Condominiums For Sale:

Showing properties 1 – 7 of 500+. See more city of Scottsdale real estate.
(all data current as of 2/23/2012)

  1. Photo of 20100 N 78th Place, Unit 1199, Scottsdale, AZ 85255 (MLS # 4682668)
    2 beds, 2.00 baths
    Home size: 1,116 sq ft
    Lot size: 1,173 sq ft

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  2. Photo of 4620 N 68th Street, Unit 110, Scottsdale, AZ 85251 (MLS # 4658497)
    1 bed, 1.00 baths
    Home size: 702 sq ft
    Lot size: 70 sq ft

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  3. Photo of 9450 N 95th Street, Unit 201, Scottsdale, AZ 85258 (MLS # 4613302)
    2 beds, 2.00 baths
    Home size: 1,164 sq ft
    Lot size: 126 sq ft

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  4. Photo of 7175 E Camelback Road, Unit PH07, Scottsdale, AZ 85251 (MLS # 4355436)
    3 beds, 3.50 baths
    Home size: 3,940 sq ft
    Lot size: 3,940 sq ft

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  5. Photo of 14000 N 94th Street, Unit 1161, Scottsdale, AZ 85260 (MLS # 4496518)
    2 beds, 2.00 baths
    Home size: 1,301 sq ft
    Lot size: 1,330 sq ft

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  6. Photo of 4620 N 68th Street, Unit 177, Scottsdale, AZ 85251 (MLS # 4652430)
    2 beds, 2.00 baths
    Home size: 1,020 sq ft
    Lot size: 107 sq ft

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  7. Photo of 10080 E Mountain View Lake Drive, Unit 221, Scottsdale, AZ 85258 (MLS # 4683099)
    3 beds, 2.00 baths
    Home size: 1,592 sq ft
    Lot size: 152 sq ft

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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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The Short Sale Bank Has To ____

I speak with a handful of homeowners every week who are facing foreclosure or who are considering a short sale. There is a common misconception in regard to short sales/foreclosure. The general public feels the banks HAVE to do this or are required to GIVE that. At the end of the day, that is just not the case.

The short sale is at the bank’s discrepancy. Period. They can ask for whatever they want, take as long as they want, or , frankly, just never return your phone calls. Now, as we know, this doesn’t happen. Banks do want to get short sales done because it nets them more money but they don’t HAVE TO do anything.

Even states where the bank legally has to respond within 60 days, guess what, it’s not helping any. If they bank hasn’t done their calculations within 60 days, but they have to respond, that response is going to be a NO.

Just something to think about as we enter a new week.

Let me know if you have any Arizona short sale  or Scottsdale Real Estate questions. Also feel free to visit my other websites/blogs: http://realestatewizkid.com & http://realscottsdalerealestate.com

Sincerely,

Jeff Buettner

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Goldfield Ranch, AZ Horse Property. $649,900

Goldfield Ranch, AZ 4 Bedroom, 3 Bath. 5 Acre Horse Property

This custom 4 bedroom, 3 bath home is nestled next to Tonto National Forest. If you want privacy, enjoy Mountain Views, horse back riding, golfing, mountain biking, hiking, hunting, fishing, water skiing, boating, bird watching or photography, this is the perfect home for you. 5 acres on the Beeline that’s just minutes from Saguaro Lake and Fountain Hills and yet all the privacy of a Sonoran Retreat. You even own your water rights!

This Custom Home is on 4.45 acres and has spectacular mountain views! Stone floors, granite counters, alder cabinets, stacked stone fireplaces, a chefs kitchen, a spacious master bedroom with a comfortable sitting area. The master bath has a jetted tub, snail shower and a 2 way gas fireplace to soak in. This 4 bedroom, 3 bath home is an entertainer’s dream home! A  home theater with a hide-away projection screen and surround sound to enjoy your favorite movie or just relax listening to your favorite music while taking in a good book. The covered curved patio opens to the kitchen and the living room so that you can expand your entertaining to the outside and enjoy the great weather as your guests take in the mountain views. It even has its very own wood burning pizza oven. There’s nothing like a personal pizza party on this fantastic patio while watching the sunset and listening to the birds sing.

Ride/Hike into Tonto National Forest which borders GF. 10 minutes to Saguaro Lake, 5 Star Golf, Fort McDowell Casino & Fountain Hills. Just 20 minutes to Scottsdale & Mayo. 30 Minutes to Sky Harbor or ASU. 1 hour to the Mountain Towns. Great for horses. Own your Water! HOA is planning to seal roads.

Kids are grown and Motivated owners are looking to downsize. Live where others vacation!

 


Mark Gridley, TecKNOW Real Estate Agent
eXp Realty Fountain Hills, AZ
Mark.Gridley@PhoenixPowerSearch.com
48o.818.5155
http://fountainhillsinformation.com/
Fountain Hills Real Estate
Arizona Buyers Advisory 

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Baseball / Spring Training / 2012 Cactus League / White Sox / Dodgers / Glendale Real Estate

City of Glendale: Camelback Ranch:

Welcome to Glendale, Arizona! Yes, Camelback Ranch spring training complex is on the property, owned by the City of Phoenix, but the Chicago White Sox and the Los Angeles Dodgers are a major part of the Glendale community. Several years ago, this far western valley community became nationally known. It’s the best place to live if are a fan of the Arizona Cardinals and the Phoenix Coyotes, where the University of Phoenix Stadium and Jobing.com Arena are now situated. Its is a premier destination for fans and foes of these local professional teams.

Glendale offers more than just sports. The Historic Downtown Glendale offers plenty of shopping from arts, crafts, collectibles, imports and plenty of accessories. To top all of that, they have been named as the best places to shop in the country, according to USA Today andSunset Magazine. Plus, shoppers can go to Arrowhead Towne Center as well. If you are looking to hike, Glendale has trails to choose from Skunk Creel Linear Park and Thunderbird Park.

Last and certainly not least, there’s plenty of real estate to choose from. To conclude the previews of the 2012 season of all teams in the Cactus League, I will finally share my thoughts on the White Sox and the Dodgers.

Lets Talk Chicago White Sox Baseball:

The 2011 Chicago White Sox dealt with a difficult season of which their former manager Ozzie Guillen had no choice of doing, leaving Chicago’s southside for the Miami Marlins. He had a great run with the Sox and won them a world championship during his tenure, but a difference voice was needed and Robin Ventura is now their man. As the Sox look ahead to 2012, many of their 2011 players are gone and they feel they are ready for the season and not consider they are in a rebuilding position.

The batting team for the Sox is looking pretty good. I like what they have with a couple of good veterans in the lineup including Adam Dunn at first base, of which I expect a good comeback after a horrible 2011 season. Plus, who could ever forget Paul Konerko? They still have a few players who from previous years of which AJ Pierzynski is anticipated to provide solid punch at the bat, and provide the leadership behind the plate for pitchers. This should be an interesting year to see what manager Robin Ventura will do of handling this line-up. If he has an answer, the White Sox could be in the playoff hunt this year.

The White Sox pitching is another key factor to determine if they will succeed or not. There has been a major shift in the rotation after losing a couple of key pitchers including starter Mark Buehrle to the Marlins and closer Sergio Santos. Looking at it, they still have a couple of key starters who could make some noise this year in the likes of John Danks and Jake Peavy. Though, if Danks remains healthy, he very well could have a much better season going for him. I do like some of the young developing pitchers they have. A young Chris Sale is anticipated to start around the bottom of the rotation. Yet, who knows who the closer in the pen will be. It could be Matt Thornton or Jesse Crain.

Everyone baseball fan knows the White Sox had a transitional offseason. It’s the first year for Robin Ventura as a manager. For White Sox fans, patience is the key. If Ventura can work these guys to become good all around players on the diamond, they could surprise you and many other fans. They very well could compete with the rest of the division, but what they can do is mystery to many baseball fans.

Lets Talk Los Angeles Dodgers Baseball:

This storied franchise, the Los Angeles Dodgers team has dealt with the misfortunes of ownership issues of Frank McCourt, which led the team to declare for bankruptcy, and now are placed for sale. There many questions of where this franchise is headed. Whether or not you are a Dodgers fan, we all want answers to see where they will stand for years to come. That comes with the ownership. The Dodgers are seeking a new owner that could possibly have what it takes to get the Dodgers back into elite position. Looking at the record from last year, 82-79 really was not all that bad.

Looking at the batting squad for this year, they still have some hitters who could add the spark on this team. These positional players very well could make the rest of the franchise forget all the things going on in the front office these days. Looking at second year player, Dee Gordon, I believe will be a good leadoff hitter without the significant power, but the speed he has will go a long way if the two and three hitters will do the job. Second Baseman, Mark Ellis and Right Fielder, Andre Ethier are expected to fill the roles of getting him to score runs. The anticpated clean-up hitter Matt Kemp should have another huge year with another repeat performance of a high number Runs Batted In (RBI) this year. I am anxious to see that this lineup can do for the Dodgers. I would not be surprised if they  can lead this team of many victories this year.

The Pitching staff of the Dodgers is another to look out for. They do have the advantage of playing in Dodger Stadium, a pitchers ball park. It depends how this rotation will handle their game in this stadium entering its 50th season. The Dodgers obtained a good pick up in Aaron Harang, which he was 14-7 with an ERA of 3.64 in 2011, which was a major improvement of his 2010 season in Cincinnati. Of course, 21 game winner Clayton Kershaw should have a repeat performance from 2011. I believe Javy Guerra will have more of a closers role this year as he closed with 21 saves of 23 attempts from last year. Overall, the staff is rock solid, and it’s up to what pitching coach Rick Honeycutt can do to.

Overall, I feel optimistic about this Dodgers team despite of the distractions from the front office. I felt General manager Ned Colletti did what he has to do during the off season, and felt he did a good job of getting what the Dodgers needed by replenishing with good players after losing good players. It looks good on paper, but lets see what Manager, Don Mattingly does with this club. If he can operate to the point these players can buy into his system, I feel the Dodgers could be alive for the playoff hunt into September this year.

Glendale Real Estate For Sale for Chicago White Sox and Los Angeles Dodgers Fans:

Showing properties 1 – 10 of 500+. See more city of Glendale real estate.
(all data current as of 2/19/2012)

  1. Photo of 17818 N 57th Drive, Glendale, AZ 85308 (MLS # 4564359)
    3 beds, 1.75 baths
    Home size: 1,372 sq ft
    Lot size: 7,891 sq ft

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  2. Photo of 4510 W Brown Street, Glendale, AZ 85302 (MLS # 4681390)
    3 beds, 2.00 baths
    Home size: 1,500 sq ft
    Lot size: 9,508 sq ft

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  3. Photo of 10246 N 44th Drive, Glendale, AZ 85302 (MLS # 4703030)
    3 beds, 1.75 baths
    Home size: 1,733 sq ft
    Lot size: 8,596 sq ft

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  4. Photo of 10613 N 45th Drive, Glendale, AZ 85304 (MLS # 4701782)
    3 beds, 2.00 baths
    Home size: 1,436 sq ft
    Lot size: 9,108 sq ft

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  5. Photo of 4546 W Beryl Avenue, Glendale, AZ 85302 (MLS # 4708843)
    4 beds, 1.75 baths
    Home size: 2,023 sq ft
    Lot size: 8,288 sq ft

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  6. Photo of 4608 W North Lane, Glendale, AZ 85302 (MLS # 4711021)
    3 beds, 1.75 baths
    Home size: 1,873 sq ft
    Lot size: 10,450 sq ft

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  7. Photo of 6162 W Wikieup Lane, Glendale, AZ 85308 (MLS # 4666286)
    4 beds, 2.50 baths
    Home size: 2,394 sq ft
    Lot size: 6,900 sq ft

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  8. 2 beds, 1.00 baths
    Home size: 780 sq ft
    Lot size: 8,000 sq ft

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  9. Photo of 5608 W Gardenia Avenue, Glendale, AZ 85301 (MLS # 4688188)
    2 beds, 2.00 baths
    Home size: 1,012 sq ft
    Lot size: 6,547 sq ft

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  10. Photo of 6649 W Christy Drive, Glendale, AZ 85304 (MLS # 4689910)
    3 beds, 2.00 baths
    Home size: 1,438 sq ft
    Lot size: 7,937 sq ft

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Listing information deemed reliable but not guaranteed. Read full disclaimer.

In vicinity of Camelback Ranch:

Showing properties 1 – 10 of 60. See more 85037 zip code real estate.
(all data current as of 2/19/2012)

  1. Photo of 4815 N 96th Lane, Phoenix, AZ 85037 (MLS # 4698373)
    4 beds, 3.00 baths
    Home size: 2,663 sq ft
    Lot size: 6,050 sq ft

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  2. Photo of 10605 W Heatherbrae Drive, Phoenix, AZ 85037 (MLS # 4661214)
    3 beds, 2.00 baths
    Home size: 1,638 sq ft
    Lot size: 5,471 sq ft

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  3. Photo of 8902 W Vernon Avenue, Phoenix, AZ 85037 (MLS # 4677325)
    4 beds, 2.00 baths
    Home size: 1,010 sq ft
    Lot size: 6,351 sq ft

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  4. Photo of 4737 N 94th Avenue, Phoenix, AZ 85037 (MLS # 4681233)
    4 beds, 3.00 baths
    Home size: 1,907 sq ft
    Lot size: 9,545 sq ft

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  5. Photo of 10317 W Monterosa Avenue, Phoenix, AZ 85037 (MLS # 4714063)
    3 beds, 2.50 baths
    Home size: 1,362 sq ft
    Lot size: 2,767 sq ft

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  6. Photo of 8415 W Lewis Avenue, Phoenix, AZ 85037 (MLS # 4710822)
    3 beds, 2.50 baths
    Home size: 1,652 sq ft
    Lot size: 2,196 sq ft

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  7. Photo of 10705 W Roma Avenue, Phoenix, AZ 85037 (MLS # 4704482)
    3 beds, 2.00 baths
    Home size: 1,587 sq ft
    Lot size: 7,910 sq ft

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  8. Photo of 4102 N 84th Lane, Phoenix, AZ 85037 (MLS # 4543376)
    3 beds, 1.75 baths
    Home size: 2,124 sq ft
    Lot size: 8,224 sq ft

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  9. Photo of 4719 N 95th Lane, Phoenix, AZ 85037 (MLS # 4680097)
    3 beds, 2.00 baths
    Home size: 1,329 sq ft
    Lot size: 6,449 sq ft

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  10. Photo of 4648 N Guadal Drive, Phoenix, AZ 85037 (MLS # 4646777)
    3 beds, 2.50 baths
    Home size: 1,942 sq ft
    Lot size: 4,617 sq ft

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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Blue Ridge Neighborhood Album

Rainbow Over Blue Ridge RooftopsToday was one of those rain-sun-rain-sun-rain Saturdays in our Ballard neighborhood.  Blue Ridge, nestled just north of Crown Hill and Golden Gardens, is a pretty, cosy area of early and mid century homes, many with views of Puget Sound.  Encouraged by one twenty-minutes-straight bout of sunshine we set out on a walk, only to note it start sprinkling again.  No worries, like most Seattleites we had our hoodies so we could just pull up the hood.  We were rewarded by a beautiful double rainbow right over the Blue Ridge rooftops.  Maybe gets a top rating for best walk of the month.  I kept noticing the really great landscaping that so many of the bungalow owners have put into place.  Why let your lawn stretch from doorstep to sidewalk when you can create interest and a sense of expansive privacy with an irregular island of shrubs and interesting plants that finishes off the look into one of polished elegance.  Of course, as soon as I decided these homes were hands down the most finished looking, I found several with straight walks intersecting a full lawn which impressed me too.  What do you think?

Rainbow Over Blue Ridge Rooftops
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6 Year January Sales Stats for Bainbridge Island

Bainbridge View from the water For those interested in purchasing property on Bainbridge Island in Puget Sound, the question might really be, where is the market currently?  These stats I worked up from complete market data from the MLS show that we are coming up from a low of last year.  Take a look and don’t hesitate to email me if you have any questions.

We can see from these figures that the lowest point was last January, a year ago, and this January has come up to what prices were 2 years ago.  For the list of sales from which I took these stats, just email me and I will send them to you, I didn’t eliminate any sales, so this includes REO and short sales.  What’s evident in this group of figures is that you are still getting about a 20% discounted price on where property was at it’s high mark in about 07-08.  But it also shows values are heading back up.

 

 

5 year sales stats for Bainbridge Island, for the month of January

6 Years of January Average Home Price on Bainbridge Island

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