The GOOD. the BAD. the UGLY. SELLING a home with TENANTS | Phoenix-metro


There are many reasons someone might need to sell a tenant-occupied property in the Valley of the Sun (Arizona).

You hate being a landlord, landlord life is not for you! You want to take advantage of Phoenix, Arizona hot sellers’ market. You are looking to move money elsewhere. If you must sell a home with tenants its best to tread lightly

and do some research. Kidding… JK it’s not breaking bad style of selling homes although we have been called the wild wild west or real estate. Everyday homes in Phoenix, Scottsdale, Tempe, Chandler, Mesa, Gilbert, Glendale, Peoria, and through Maricopa County Arizona are being sold with tenants in place.

Here lies the good, the bad, and the ugly of selling a home with tenants plus some advice and guidance from top Realtor John Pesqueira.

P.S if you hate reading, email, or call for a consultation.

The Good (Thank you baby Jesus):

By selling a home with tenants it allows you to continue collecting rents and making money (Cheddar baby). On top of rental income when you close escrow you will receive a huge check (Cha Ching). And if done correctly you will not need to transfer or pay back the deposits. This is a perfect world scenario but as well all know nothing is perfect. There is a saying in real estate, what can, will go wrong. Expect the unexpected.

The Bad (issues that must be addressed upfront):

Tenants have rights! Every landlord in Arizona should read the Arizona Land Lord Tenant act. Get familiar with this bible. Know your rights and the tenants’ rights before listing any property with tenants.

A common tenant right is 48 hours’ entry notice. Many tenants will allow showings in short notice and or in 24 hours but that should be addressed with the tenants and in writing. An entry notice must be in writing or email, should be followed up with a call, and a confirmation. This means that any and all showings, inspections, or any entry must be scheduled days in advance.

On the other side buyers don’t have the time to wait for a showing in a hot market like Phoenix-Scottsdale-Tempe, Arizona. You will have many buyers pass the home up for a showing or interest and some are good buyers. A tenant (not knowing) can easily sabotage a sale by making it difficult to access or not allowing showings. ** Reminder *** read/familiarize the Arizona Land Lord Tenant act. It’s your landlord bible.

The Ugly (Go F**K YOURSELF!):

A tenant can kill the deal fast! A tenant can damage the property before and after inspections. A tenant can damage the home before final walkthrough. If the damage is substantial the new buyer might want to renegotiate price, credit, or terms. The new buyer could back out and the sale falls through. This will leave the issue with you. At this point you lost a good buyer, you waisted a lot of time, and your home is in worse shape than when you put it up for sale. A lose all the way.

A mad or uncooperative tenant is difficult to work with. If a tenant is being difficult with you (Seller) how do you think he will be with a 3rd party like a Realtor? Not good, the deal is dead on arrival.

The truth about selling a home with tenants is your buyer pool is smaller for many reasons (access/entry, unforeseen damages and issues, etc.). Financing is a little trickier for tenant occupied homes when it comes to 1st time home buyers and todays #1 buyer is 1st time home buyer. When selling to an investor buyer make sure to have P&L, leases, and tenant info ready. But all these issues if addressed upfront and correctly will result in a top of the market sale.

Advice (From a top Realtor, John Pesqueira)

Tenants are a crucial part of selling a home with tenants, they somewhat take the position of the owner. As a top Realtor in the Phoenix, Arizona market (including Scottsdale, Tempe, Chandler, Mesa, Gilbert, Glendale, and through Maricopa County Arizona) I have sold many homes with tenants in place. My advice is right from the beginning of the move in date or 1st meet start building a good repour with the tenant. Don’t be a slum lord! Always be courteous and quick to correct issues/respond. Communicate with them often, maybe add verbiage the lease that allows you to enter every 3 months for maintenance and ask them if selling in the future would be an issue – even if you’re not considering selling. This will allow you entry/access and by doing so will keep you up to date with your property.

Although you’re in the real estate business, your also in the people/customer service business. In the people/customer services business people will work with, not against people they like.

This last part is some option scenarios for selling a home with tenants, a guidance as you will.

Option 1: the best option is allowing the lease to expire or let them move out. This allows you to fix up the home and get it ready to sell. It’s almost guaranteed you will make more money without a tenant in place and the home will be ready for new buyer. Even investors prefer a move in ready home vs one with a tenant. Unless they are getting a deal or have done this before.

Option 2: You must sell, don’t spring the sale on the tenant last minute. The minute you are considering selling let the tenant know. This will give them time to prepare and or enough time to find a new place if need. Let’s say at first the tenant is upset, give them time to come around. Sometimes people need a little time to reconsider. Ask their thought about it and if they will be cooperative. More than likely they will be cooperative. If they could be a problem offer them some sort of incentive (less in rent, $ for early move out, dinner, gas, etc.) for early move out or cooperation. If you know for a fact, they will be difficult then wait till the lease expires and let them move out but don’t rush them out. Tenants have rights.

Option #3: Hold onto your investment. Phoenix, Arizona and surrounding cities (Scottsdale, Tempe, Chandler, Mesa, Gilbert, Glendale, and through Maricopa County Arizona.) is one of the hottest real estate markets in the country. Home values continue to go up and last I heard the Phoenix metro area holds the fastest rising rents.

The last and really the first step is choosing an agent. If you choose an agent to begin with then they will guide you through the process. It allows the agent to begin building repour with the tenants as well as yourself.

A Realtor selling a home with tenants should be courteous. A Realtor should try to work with them and handle any and all showings through them. A Realtor should give the tenant 48+ hours’ notice (Or what was agreed upon) to enter. A Realtor should treat them like they treat any client. A tenant should access to the Realtor and his/her team 24/7. And finally, the Realtor should understand the tenant’s position; also understand the seller’s position as I have been both in my life.

Selling a home with tenants by John Pesqueira, Realtor at Attorneys Realty. E. LavishPadBoutique@gmail.com | W. https://www.lavishpAdZ.com/

Downsizing up: Swap a house for a PENThouse. Lifestyle!


Less is more!

It’s not a money choice, it’s a lifestyle choice.

Today (older) buyers are downsizing. They are opting out of their 10,000+sf mansion with 4+ car garage, luxury home theaters, bowling alley, helipad, sprawling grounds, resort backyards, and gun ranges. And downsizing into their next trophy property: top floor penthouse or luxury condo high-rise.

Why downsize? The maintenance and upkeep of these huge homes, estates, and mansions is a job all its own. If you don’t maintain these homes, they deteriorate. The cost is a waste of money, not to mention the kids have moved out, the property is deteriorating, and it’s time for mom and pop to play and live.

Have you seen the amenities that come with a high-rise penthouse building? 24 hour security, concierge, gyms, spas, roof top pools and BBQ areas, access to resort hotels and pools, on call massage therapist, valet, dry cleaning, commercial offices for meetings, high-tech parking garages, and so much more. It’s an easy choice says realtor Juan Pesqueira. You might also save money, a lot of money by making the swap. So much so your options could include purchasing multiple properties to accommodate guest, for rental income, or buy in other cities and travel. Now let’s talk about outside: Walk to shopping, fine dining, coffee shops, restaurants, you don’t even need a car. If your destination is a little longer no worries an electric scooter will take you there.  

Penthouses are the latest trend in the urban Scottsdale-Phoenix-Tempe-Paradise Valley market and have become a desired contemporary housing option for home seekers. A penthouse (according to condoagent007) is traditionally known as the top-floor unit of a luxury residential building but that definition is changing. Now, “penthouse” is usually more of a marketing term that refers to a unit with a different layout from others in the building, ample outdoor space, great views, or largest size — but it’s not necessarily on the top floor. A penthouse is a lock and leave lifestyle. You can travel and not worry about the property. Hey honey can you fix the light, no worries babe. I’ll call the concierge.

Phoenix metro market is becoming more vertical. It’s a major change in the landscape of Phoenix, Arizona. We have an abundance of new high-rise penthouse developments to choose from. There is never a better time to downsize or relocate into a penthouse or luxury condo in the valley of the sun than now.

Search all Scottsdale, Phoenix, Paradise Valley, and Phoenix luxury high-rise or penthouses for sale…

www.lavishpAdZ.com

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Juan Pesqueira
Attorneys Realty

CONTACT

DESERT MOUNTAIN TUSCAN ESTATE comes with Italian wood-fire pizza oven


SCOTTSDALE, az | 41324 N 95TH STREET | Desert Mountain

You had me at pizza…

Complete with Exquisite finishes throughout such as: wood-beamed ceilings, Venetian plaster walls, Italian tile flooring, carved Cantera accents and extensive wrought iron detailing.

Situated on 2.2 acres in the premier Saguaro Forest Village in Desert Mountain. This lavish estate (41324 N 95TH STREET) Scottsdale features 5 bedrooms and 5.5 bathrooms, 7,390 sf, with a 4 car garage + parking for more, and Separate 2 Bedroom Guest house.

Amenities include luxury home theater, library, bar and wine room, gourmet kitchen, , pool & cascading spa, circular auto court with center fountain, and so much more.

* The home is listed with Kathy & Hugh Reed | Russ Lyon Sotheby’s International Realty

The only question need I ask is who does not want their very own pizza oven? And an authentic Italian wood-fire pizza oven at that? I sure as hell do… Unfortunately, chef is not included in the $2,750,000 price tag. The property is turnkey, fully furnished with Rich Drexel furniture, and Desert Mountain Memberships for Golf or Lifestyle available from the Club with approval. . All you need to bring is your toothbrush and some Venezia’s or Joe’s Ny style Pizza to throw in the oven… Lets get the pizza party started!

Desert Mountain Real Estate for sale

Search luxury homes for sale @ lavishpAdZ.com

Notable Luxury Home & Penthouse Sales + Stats of 2019: First Quarter | Arizona


Highlights from the top four reported home and top 4 reported penthouse sales of Q1, 2019 in Scottsdale and Paradise Valley, Arizona.

A trophy Paradise Valley estate, a Romantic Urban Paradise Valley Villa, and ace Diamondbacks pitcher Randy Johnson finally sells his pad for $18M off the original asking price were among the noteworthy sales in the first quarter of 2019 in Scottsdale and Paradise Valley luxury real estate market 1st quarter of 2019.

HOMES

5838 E STARLIGHT WAY, Paradise Valley, AZ 85253US$14.3 – 15.7 Million
Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley

This Privately gated estate in the heart of Paradise Valley was up for auction. It features breathtaking views of Camelback Mountain, the McDowell Mountains, and Four Peaks Range. Experience exquisite finishes and rare amenities from exclusive interior designer David Scott and Frank Lloyd Wright trained exterior architect Vernon Swaback; Other unique highlights of the main home include an executive home office, trainer’s gym, basketball court with electronic score board, twelve seat grand theater and wine cellar. Over 30,000 sf, 8 bedrooms, 11 bathrooms, 12+ car garage, and is one of the most expensive homes every sold in Paradise Valley.

Past blogs about this property… 2 of the most expensive homes in Arizona set for auction… No Open House for You!

8100 N 68th ST, Paradise Valley, AZ 85253US$12 Million

This Romantic Urban Villa in the heart of Paradise Valley. This palatial Mediterranean estate is a master class in what can be achieved with the world’s finest materials, a renowned team of artisans, and an unlimited budget. Designed by Juan Sandoval following the format of 17th Century Colonial architecture, but with every modern convenience. This magnificent home is unparalleled in its construction quality and architectural precision. Every 2 acre part of this estate was designed and built in over a ten year period. Two spectacular central courtyards. One for gardens and fountains, the other for a stunning 60X60 foot pool. The design of the home guarantees beauty from every room, and a level of security unmatched by even the most advanced technology. 18,000 sf, 5 bedrooms, 8 bathrooms, 8+ car garage, and one of the most beautiful homes designed… 

8055 N MUMMY MOUNTAIN RD, Paradise Valley, AZ 85253US$7.3 Million

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 1

Arizona Diamondbacks legend pitcher Randy Johnson finally sold his 5-acre Mediterranean estate. Once priced as high as $25,000,000 and put  up for auction after no buyer would take it. Over 1600 days and finally sold for $18 million off the original $25 million asking price. For more info about this property visit our past blogs or google Randy Johnson Paradise Valley house for photos, video, and information.

Past blogs about this property… 2 of the most expensive homes in Arizona set for auctionBig unit Randy Johnson asking a big price tag for his mega 25,000 sf home in Paradise Valley

10525 E RIMROCK DR, Scottsdale, AZ 85255US$6.45 Million

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 2

One of the most “asked about” homes in Horseshoe Canyon of Silverleaf. This exceptional estate is a one of a kind opportunity. Schultz Development created this 9,335 SF Ranch Hacienda masterpiece with 7 bedrooms, 8 bathrooms and unsurpassed quality. Located on the 17th hole of the Silverleaf course, the 2.37 acres pick up 5 golf holes as well as spectacular and dramatic mountain and city light views. The guest casita has 3 bedrooms, living area and kitchen – perfect for guests/extended family. The main house’s open plan flows seamlessly from space to space, both indoors and out. Also included: game room with view deck, exercise room, home theater, oversized gourmet kitchen, and a resort style back yard with oversized pool, lawn area and covered patios. You could only view this estate with appointment and proof of funds.

PENTHOUSES

15215 N KIERLAND BLVD 937, Scottsdale, AZ 85254US$3.33 Million

Plaza lofts

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 3

South Facing Kierland Commons Penthouse with SWEEPING UNOBSTRUCTED VIEWS. This Penthouse is a true stand-out, boasting the best of both worlds: luxury and convenience. Boosting 3 bedrooms, 2.5 bathrooms, 3567 sf, and 2 car parking spaces. This is LIFESTYLE LIVING at its best with Kierland Commons, Scottsdale Quarter and the neighboring Kierland Resort & Spa and 27 hole Kierland Golf Course across the street. Simplify your lifestyle and enjoy all the amenities a luxury home can offer without the maintenance….have the freedom to lock and leave…

5551 E ARROYO VERDE DR 209, Paradise Valley, AZ 85253US$2.81 Million

VILLAS AT MOUNTAIN SHADOWS

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 4

Luxury New Villa at Mountain Shadows Resort Paradise Valley location. Enjoy resort living w/ full amenities at adjacent resort combined with distinct architectural designs. Enjoy views from 800+ sq. ft. outdoor deck. This Villa has 20 ft. high entry foyer with private elevator/stairs to living level. Luxurious designer features include, Wolf combo dual fuel range oven and microwave, Sub Zero refrigerator, Asko dishwasher, Zephyr hood,10 ft. high ceilings, 9 ft. bi-fold doors to deck,9 ft. bi-fold from master suite to deck, indoor/outdoor fireplaces, 3 bedroom, 3.5 bathroom, 2 car private driveway, 2 car private attached garage, 24 hr. guarded entry, & more!

18720 N 101St ST 3023, Scottsdale, AZ 85255US$2.5 Million

Icon Silverleaf

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 5

Still UNDER CONSTRUCTION. Introducing ICON Silverleaf, a new collection of 72 luxury single-story condominiums within Silverleaf at DC Ranch in Scottsdale, AZ. ICON represents the only residential offering of its kind at Silverleaf’s exclusive community. ICON showcases single-story, luxury residences served by semi-private elevators. ICON’s spacious flats include expansive views and allow more freedom to live how you want to. The luxury condominiums will offer, 3,170 Square Feet of Living Space 3 Bedrooms, 3.5 Baths, private decks, access to Silverleaf’s resort amenities. Model Homes are anticipated to be complete in Winter 2018.

7181 E Camelback RD SE 704, Scottsdale, AZ 85251US$2.32 Million

Scottsdale Waterfront

Notable Luxury Home & Penthouse Sales Scottsdale Paradise Valley 6

This is the only Scottsdale Waterfront unit with 1,400 sf outdoor living balcony/terrace landscaped with palms, Meyers lemon tree, and lime tree. A spectacular completely remodeled smart house unit with 2300 sf livable and 3 parking spots. This is the best location in Scottsdale…

By the number 1st quarter 2019 Luxury Report by Juan Pesqueira Realtor

  • $1 million+ = 407 sales | 21 were Penthouses, condos, and townhomes
  • $14.3 – $15.7 million was the top sales price and it was in Paradise Valley
  • 176 Average days on market | 0 – 1617 days on market
  • Luxury Home Statistics 1st quarter 2019

Find your lavish Pad!

www.lavishpAdZ.com

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Juan Pesqueira Realtor

House Hunting in … Scottsdale… Phoenix… Paradise Valley


From a brand-new Icon Silverleaf Condo and a historic North central Phoenix estate to a golf course community in North Scottsdale such as Silverleaf, Troon, or Desert Mountain – let’s not forget Paradise Valley. There’s a plethora of choices in high-end homes or penthouses to choose from. Consider these 9 tips from luxury home pro Juan Pesqueira before house hunting and buying your dream home.

Auction planned for Carefree contemporary southwest architecture house with Award-Winning Landscape 10

9 Tip you need to know in 2019 before buying a luxury home in Scottsdale, Phoenix, Paradise Valley, or in the state of Arizona.

1. Work with a local expert.

“It’s critical to have a good buyer agent who is familiar with the area and inventory you want to buy in. There’s a bit more control on access to high-end properties in terms of fewer open houses and more appointments have to be made to see them.” Juan Pesqueira, Attorneys Realty. 

In the top luxury markets like LA, NY, or Miami luxury homes can be difficult to locate because of their exclusivity. Often, they don’t appear on multiple listing services (MLS) because owners want to safeguard their privacy. Here in Arizona that is not the case. Although we do see off market sales from time to time, most of the inventory ends up on the MLS or word of mouth. Word gets around when a buyer is looking for something unique say Juan Pesqueira. 

A Realtor becomes an adviser. Its always best to SET a buyer consultation APPOINTMENT NOW or soon, so you can feel good and know that the wheels are now in motion. Even if you are still 6 months to a 1 year out. 

2. LOCATION, LOCATION, LOCATION

Your dream home can quickly morph into a nightmare if you don’t carefully investigate its surroundings. It may be situated in an exclusive neighborhood that bumps up against a questionable area six blocks away (Arcadia vs Arcadia light – if you can afford buy in Arcadia (not light) ). Ask your agent what will happen to the area in the future. For example, is there a projected high rise or housing development that will obstruct your gorgeous views (old town Scottsdale has had issues with this)? Even if you’re eyeing a gated community, check out possible issues with the location.

Quick Luxury Home market update –

  • Scottsdale Luxury home prices starts around $1 million.
  • Phoenix Luxury home prices starts around $800K.
  • Paradise Valley Luxury home prices starts around $1.8 million.
  • Get familiar with names within the city of Phoenix such as Arcadia or The Biltmore.
  • For Scottsdale, Silverleaf carries its own weight due to the sky high prices (20-30 million+).

Therefore, a local expert like myself is key. They will educate you on different locations, lifestyles, values, and availability.

3. VIEW, VIEW, VIEW | Lifestyle, Lifestyle, Lifestyle

Arizona has some of the most beautiful landscape in the world. Ask yourself do you prefer city, mountain, desert, boulder or all? Do you prefer urban, desert, or rural areas? Do you want to back to a boulder, do you want sunset, sunrise, or both? Do you prefer urban or rural areas? Are you looking for a lock and leave condo or penthouse with luxury building amenities, 24-7 concierge/security, maybe a guard gated community, or large piece of land with your home? These are all questions and options that will come up, don’t worry you will figure it out.  

4. BUYING BASICS – Searching for luxury homes without getting pre-approved by a lender, if NOT PAYING CASH:

Do not mistake pre-approval by a lender with pre-qualification.  Pre-qualification, the first step toward being pre-approved, will point you in the right direction, giving you an idea of the price range of houses you can comfortably afford.  Pre-approval, however, means you become a cash buyer, making negotiations with the seller much easier. Some listing agents will not allow a showing without proof of funds or approval letter. Don’t take it personal, get approved, or be prepared to provide some type of proof. The only exception is if you are a well-known billionaire, millionaire, or celebrity (ex. Warren Buffet, Larry Fitzgerald, Kyle Jenner or any Kardashian, Bradley Cooper, etc.). The high-end market examines buyers under a microscope, so financial documentation is imperative to prove that you can afford a multi-million dollar home. This shows the seller whether you’ll need to obtain a loan or pay in cash. Cash is the favored luxery home payment.

5. Dress conferrable when viewing property during the Arizona SUMMER!

Its no secret that Arizona (Scottsdale, Phoenix, Paradise Valley) is hot in the summers (top out at 110+) and just perfect in the winters. If you are looking at property during the summer months, wear shorts, a cool shirt, and sandals because it will be hot. You will sweat, so bring water. For those who have never been here during the summer, it’s a dry heat. Feel free to do a test run and walk into your local gym’s sauna with clothes on. But don’t worry, everywhere you go is air conditioned. The mornings are best during summers, but evenings will have you catching the most amazing sunsets. During winters us locals like to dress like its below zero, don’t panic if you see me in a full bear skin coat during the summer – Just Kidding…

6. DON’T JUDGE A PROPERTY BY ITS PHOTOS

Pictures, brochures and video walk-throughs don’t duplicate the feeling of actually being in the home. Even if you have to travel across the country or visit from overseas, a personal viewing is imperative – after all, this is a huge purchase you’re making! Gauge the house’s appeal by visiting it several times at different times of day. My advice is scheduling a sunset showing!

7. Hire smart, reliable advisers.

“A Realtor won’t make the client’s decisions but will make suggestions. Pay attention to your financial planner, accountant, attorney, and Realtor that you trust. They should agree on what you should be doing and if they don’t, arrange a meeting.” ENSURE THAT THE HOME HAS EXCELLENT RESALE VALUE You must always consider a home’s resale value? Yes. Be certain that you can comfortably recoup what you spent on the house if you need to sell it. Again, a fantastic location with views to die for factors into this scenario. The home’s condition is also crucial to its salability. When you buy your first luxury home, you enter an elite realm of taste, refinement and dreams-come-true. However, you can’t just make an emotion-fueled plunge into this purchase. Preparation and restraint will help you discover a luxury house that truly is a home.

8. There’s always room to NEGOTIATE.

NOBODY EVERY TAKES THE 1ST OFFER! Whoever has the least to lose wins in negotiations. Some negotiations take longer than others. It’s not always about price, sometimes terms are more important. Have your agent research the comparable properties that have recently sold, getting closing prices, right before you make an offer. Have your agent feel out the other side. Ask questions why are they moving, if the property is vacant you know they are carrying costs, maybe they relocated. 

9. HAVE FUN AND ENJOY THE PROCESS…

Its not that difficult to buyer a property in Arizona. It will get emotional at times, the heat will not help, but you will be ok. If you find a home you love, buy it!

Multiple Listing Service for ARMLS: LAVISHPaDz.com

Scottsdale Official Tourism: https://www.experiencescottsdale.com/

Phoenix Official Tourism: https://www.visitphoenix.com/

Paradise Valley Official Tourism: https://www.visitarizona.com/cities/phoenix-and-central/paradise-valley/

Lifestyles and Listings: https://azluxuryhomeblog.com/lifestyle/ 

Contact me, I would love to show you the current Scottsdale, Paradise Valley, Phoenix luxury homes. Finding your new dream home is my job, so let’s take time to discuss what you are looking for in a home

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Juan Pesqueira

 

The Guide to Selling a Commercial Property in Phoenix, Arizona


Selling commercial real estate (building, land, apartment, multi-family, auto shop, retail, industrial, etc.) in the Phoenix, Scottsdale, Tempe areas or throughout Arizona is more complex than selling residential real estate, and the buyers of commercial property have a different mentality than those of residential homes. Buyers of residential housing tend to be concerned with the emotions of living in the home, while buyers of commercial property view the property as an investment vehicle designed to generate income or a location that best fits their business needs. If the numbers make sense, a bidding war is likely to occur. If the numbers do not make sense, the sale could take much longer than expected. And in all reality the commercial sales process takes much longer to complete vs a residential sales process.

The sales process for commercial properties is much more business-like, and the buyers tend to be much more sophisticated. They are interested in the numbers, and a detail professional marketing package including professional photos is crucial to present your property in the best light. The sales process looks something like this:

1. Seller’s Goals Analysis. This will be determined at the 1st meet. Most real estate brokerages assume that the sellers want all cash at closing. However, receiving all cash at closing may or may not be in your best interests. The first step I/we (Juan Pesqueira) take in selling a building in Phoenix, Scottsdale, Tempe or throughout Arizona when meeting with the seller or their reps is to determine your goals for selling it. 

My most recent commercial sale was 4502 – 4506 S Central Ave, Phoenix, AZ. Known as Larry’s Auto Service, an automotive shop on Central Avenue. The owners were looking to retire, after 40 years in the business, it was time. Our game plan was to price right! We sold it in 220 days.

The challenge we ran into was the south mountain light rail project, Phase 1 and Phase 2 environmental tests, and the shop (although well taken care of) was old.

1234Juan Pesqueira | Attorneys Realty

Going into a commercial listing consultation I/we ask questions such as: what are you trying to accomplish by selling the building? What are you going to do with the proceeds from the sale? Are you purchasing another building through a 1031 exchange, or are you planning on putting the cash in the bank? Are you more interested in getting a lump sum of cash at closing, or receiving monthly income without the hassles of property management (seller carryback)? Have you taken into consideration the capital gains implications for getting a lump sum of cash at closing? How much do you owe on the property? Is it a bank loan or a private note (seller carryback)? What are the terms? Is there a due on sale clause? All these questions are necessary to structure a customized transaction that will fit your needs.

2. Property Price. There are 5 ways to price a commercial property in Phoenix, Arizona.

  • Cost Approach: This valuation method considers the cost to rebuild the structure from scratch, taking into account the current cost of associated land, construction materials, and other costs that would be associated with the replacement of the existing structure. Cost approach is generally applied when appropriate comparable are difficult to locate, such as when the property contains relatively unique or specialized improvements, or when upgraded structures have added substantial value to the underlying land.
  • Sales Comparison Approach: Also known as the “market approach,” this method relies heavily upon recent sales data for comparable properties. By seeking recently sold buildings with similar properties from the same market area, a buyer hopes to ascertain a fair market value for the property in question. For example, a 12-unit apartment building might be compared to another that sold in the same neighborhood just a few months earlier. While this valuation method is typically used to value residential real estate, it does have one significant drawback. Depending on general and localized market conditions, it can be difficult to find recent comps that have similar properties.
  • Income Capitalization Approach: This valuation method is based primarily on the amount of income an investor can expect to derive from a particular property. That projected income could be derived in part from a comparison of other similar local properties, as well as from an expected decrease in maintenance costs. Say a building is purchased for $1 million, and the expected yield is 5 percent, based on local market research. That $50,000 per year in expected income could be enhanced by tightening inefficiencies, or by passing along other associated costs to the tenant, like electric or water usageAll expected future income is discounted to reflect present value. In addition to the three most commonly used valuation methods discussed above, there are several additional methods that can offer valuable insight for a potential investor.
  • Value Per Door: Occasionally used to value apartment buildings, this valuation method breaks down the building’s worth by the number of units. A building with 20 apartments priced at $4 million, for example, would be valued at $200,000 ‘per door’ irrespective of each unit’s size.
  • Value Per Gross Rent Multiplier: The Gross Rent Multiplier (GRM) is a back-of-the-envelope calculation used to measure and compare a property’s potential valuation by taking the price of the property and dividing it by its gross income. This method is generally used to identify properties with a low price relative to their market-based potential incomee.

3. Choosing the right commercial real estate agent and brokerage: There is no lack for commercial real estate agents, brokers, companies to choose from in the Phoenix, Arizona area. You have all sorts of choices for agents to brokers and companies (boutique, franchise, attorneys, etc.). Are you looking for a more personal approach or style, do you prefer a more business-like style approach. Once you have decided on the agent or broker you will be asked to sign a listing contract. These contracts vary in length, commission, and terms. Everything is negotiable but the typical is 6 mo. to a year+ and commission range from low 6% up to 10%. The more complex the sale/property the more expensive it will cost you when its all said and done. Also make sure the fee is paid at close of escrow not upfront. That way if your agent/broker or company does not sell the property, you owe nothing. Make sure to read the fine print in the contract.

4. brochure. The next step is for your agent/broker to create a professional marketing packet that shines and showcases the property right. Rather than giving the buyers information piece by piece, it makes the buyer’s purchase decision much easier by giving them all the information at once. Sometimes, the buyers need to be shown why your building is worth this much, and the marketing packet is the tool that sells your building to potential buyers.

5. Contact Qualified Buyers. Once the preparation is done, I/we begin to contact our database of qualified buyers. We also market your property across the nation through various means. Marketing commercial real estate is not like residential, there are only a few avenues online. It is not unusual for a buyer from out of State or out of country to purchase your building. Because financing is more complex with commercial property many of the buyers pay cash or would like some sort of carry back terms. Be open to creative financing but make sure the paperwork is handled correctly.

6. Interview Buyers. All buyers are interviewed to ensure that they have the proper background, resources, and interest to acquire and manage your building successfully. Many deals fall apart at the end because the buyers were not properly interviewed at the beginning. Juan Pesqueira and his team conduct an extensive interview on the qualifications of each buyer, so your time is not wasted by unqualified buyers.

7. Educate Buyers. Many buyers believe the 3 most important words in real estate are “location, location, location”. While the location is important, it is not the only factor buyers should be interested in. I/we believe the 3 most important words in real estate are “location, terms, and expandability”. It is sometimes necessary for us to educate the buyers and expand their vision, so they see the possibilities of your building. All it takes is a little education, and buyers can go from saying no to saying yes.

8. Sign Confidentiality Agreement. There are times when the owner wishes to keep the transaction confidential. If this is the case, the buyers must sign a Confidentiality Agreement, commonly known as a Non-Disclosure Agreement (NDA). This agreement protects the seller in the event of litigation.

9. Seller and Buyer Meeting. If the buyer is interested after reading the marketing packet, the next step is for the seller and buyer to meet in person. The broker will be present at this meeting, coach the seller on what to say, and steer the conversation in the right path.

10. Offer and counteroffer. The agent/broker will help the buyer draft up an offer, which can include the following: price, terms, earnest money, bank financing, seller financing, assignment, due diligence period, closing date, utility charges, seller’s disclosure, promissory note, deed of trust etc. The agent/broker will present all offers to the seller and facilitate the negotiation process to ensure that both parties get what they want. 

11. Acceptance and open escrow. 

  • Due diligence. Once the offer is accepted, the buyer will begin the due diligence process. The broker will facilitate the process to provide the buyer with the information he or she needs, while ensuring that the tenants do not know the building is for sale until the deal is closed.
  • Building inspection. Chances are the building needs to be inspected by an inspector, engineer, appraiser, general contractor, and various sub-contractors. Juan Pesqueira can be a great resource for the buyer in this process, which increases the likelihood of the deal going to closing.
  • Negotiation with Bankers. The professional marketing package on the building is not only a tool to show buyers, but also an important tool to convince bankers to finance the deal. Bankers like it when they have all the information they need presented in an orderly manner. Juan Pesqueira assist the buyers in getting financed so the deal is more likely to close.
  • Waiver of Contingencies. Once the due diligence period is over, the buyer cannot back out from the deal without forfeiting the earnest money.
  • Closing at escrow. Having a good escrow agent is important because it will make closing a smooth, pleasant, and organized process. Having a good broker at closing is also important, because the broker can smooth out the process should emotions ever run high at the closing table.

Finding buyers for commercial property

There are numerous means of finding a buyer for your commercial property in Phoenix, Scottsdale, Tempe, or throughout Arizona. It all starts with showcasing/highlighting the property in the best light. Professional photography, brochure (tell a story or give its history is helpful), and attention to detail is half the battle. LoopNet.com and CoStar.com are the #1 online listing platforms, commercial broker meetings are a must, networking, social media, blogs, etc. Because a buyer might not be local or even outside the U.S, you should try to advertise the property in different languages and different countries.

The most recent commercial deal we did, our buyer only spoke Spanish, paid cash, and was coming from Mexico City. I/We are bilingual in English and Spanish – Juan Pesqueira | Attorneys Realty

Seller expectations

Most of your agents/brokers work will be done outside the property. Broker to broker networking and presentations. Taking calls from other agents, brokers, and potential buyers. As the seller you should also prepare your property to be shown, keep it clean, and answer questions. Don’t try to hide anything, disclose, and work with your agent/broker not against. I/We keep our sellers in the loop, we send out a weekly update email, and every month meet face to face or speak over the phone for a more personalized update.

How a Commercial Agents Are Paid

Juan Pesqueira is success commission-based agent.  What this means is that if the building is not sold, I do not get paid.  This encourages me to work harder to get your property sold. 

Your next step is to decide if you want to sell your property.  We invite you to do one of two things:

  1. Free Property Price and consultation. Have a confidential meeting with me to find out the price of your property in today’s market.  There is no charge for this service, and you are not obligated in any way to use our services.
  2. You can reach Juan Pesqueira – Attorneys Realty at 480.458.8007 (This cell does not have a voice message so if I dont pick up leave a detailed message), call my office 480.767.6900, of shoot me an email: Pesqueira2@cox.net.1234

The 7 most expensive Penthouses & Luxury Condos Sales in Arizona 2018 are…


For past two years, Scottsdale Waterfront Residences & Two Biltmore Estates has dominated the list of the most expensive Penthouses sold— And this year is no different. But we have a new player in the game, The Villas at Mountain Shadows and Enclave at Borgata. Both these “Brand New” developments are located in Paradise Valley and came in at #4 and #5 on the list with sales prices between $2.6-2.7 milliion.  

Without further ado, let’s take a look at the 7 most expensive penthouses and high-rise condos in Arizona.

1. PH 1202 – Scottsdale Waterfront Residences | $3,450,000 – 3,363 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are

The Scoop: BEAUTIFUL PENTHOUSE WITH EXTRAORDINARY VIEWS. EXCEPTIONAL 2 BEDROOM, 2.5 BATHROOM, 3,363 SQFT CONDO AT THE LUXURIOUS, AND IDEALLY LOCATED, SCOTTSDALE WATERFRONT RESIDENCES. GORGEOUS CAMELBACK MOUNTAIN AND SUNSET VIEWS, HUGE BALCONY, OFFICE, LARGE GOURMET KITCHEN, OPEN SPLIT FLOOR PLAN, WOOD AND STONE FLOORING, AND CARPETED BEDROOMS. THIS EXCEPTIONAL TOWER OFFERS 24 HOUR SECURITY, CONCIERGE & VALET SERVICES, FITNESS CENTER, BREATHTAKING ROOFTOP POOL, SPA, AND CLUB ROOM WITH FIREPLACES, READING NOOKS, AND AREAS TO RELAX AND ENTERTAIN. ALL THIS WITHIN A COMFORTABLE WALKING DISTANCE OF FASHION SQUARE MALL, OLD TOWN SCOTTSDALE, AND THE MANY FINE RESTAURANTS, BOUTIQUES, ART GALLERIES, AND AREAS OF ENTERTAINMENT.

2. PH 1004 – Scottsdale Waterfront Residences | $3,200,000 – 2,975 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 1

The Scoop: This one of a kind 3-bedroom 3.5 bath unit at the Scottsdale Waterfront boosts beautiful views in every direction. The unit wraps around the entire southern end of the building overlooking the canal and Papago Mountains to the South, Red Rock, Four Peaks and Superstition Mountains to the east and Camelback Mountain to the west. This beautiful unit has two balconies, east and south. The homes pristine condition features an optimal flow and split floor plan. The home has a many custom feature that include upgraded flooring, granite counter tops, a European designed built in bar, kitchen, book shelves, all with every detail attended to. Private parties can be held in the entertainment room with preparation in the Chef’s kitchen. Make sure to take in the majestic views from the roof top pool and spa. All within walking distance to premier shopping, galleries, restaurants, nightlife and waterfront fitness. This home is too good to miss.

3. PH 210 – Two Biltmore Estates | $2,748,000 – 4,817 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 2

The Scoop: This brand new, luxury condominium has unbeatable views across the Biltmore golf course and the Phoenix skyline. The home features 12-foot ceilings with 3 en-suite bedrooms, a separate office and large scale living and media/entertaining areas. With over 4800 sf, three balconies and impeccable finishes and materials, there is nothing like this home currently on the market. Fantastic wood floors throughout the home, marble slabs covering counters, walls and floors, commercial grade appliances and high-end fixtures. The highly desirable lock and leave lifestyle literally within the grounds of the World-renowned Arizona Biltmore Resort. This brand-new home is the last developer unit and has the best views in the community.

4. 5493 E Valley Vista Ln – VILLAS AT MOUNTAIN SHADOWS | $2,735,178 – 3,615 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 3

The Scoop: Luxury New Villa at Mountain Shadows Resort Paradise Valley location. Enjoy resort living w/ full amenities at adjacent resort combined with distinct architectural designs. Enjoy views from 800+ sq. ft. outdoor deck. This Villa has 20 ft. high entry foyer with private elevator/stairs to living level. Luxurious designer features include, Wolf combo dual fuel range oven and microwave, Sub Zero refrigerator, Asko dishwasher, Zephyr hood,10 ft. high ceilings, 9 ft. bi-fold doors to deck,9 ft. bi-fold from master suite to deck, indoor/outdoor fireplaces, 3-bedroom, 3.5-bathroom, 2 car private driveway, 2 car private attached garage, 24 hr guarded entry, & more!

5. PH A4002 – Enclave at Borgata Condominium | $2,650,000 – 4,120 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 4

The Scoop: Fantastic customized penthouse residence at The Enclave at Borgata, Scottsdale’s newest luxury condominium community. This home features a grand scale great room with a huge balcony and outstanding views, 10-foot ceilings, fantastic kitchen with walk-in pantry and a den/office with beautiful custom built-ins and millwork. The spacious master suite has a bright and beautiful marble bathroom and another large balcony. The home features another en suite guest room plus a large attached guest suite with separate entrance and a kitchenette. Home also includes a private 3 car garage within the garage! Luxury amenities include a gated entrance, resident services coordinators, club room, outdoor fireplace and gardens, heated pool and spa, dog park, fully-equipped fitness studio and a walking path.

6. PH 203 – VILLAS AT MOUNTAIN SHADOWS | $2,466,787 – 3,620 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 5

The Scoop:  Luxury New Villa with iconic Camelback Mountain views in Mountain Shadows Resort Paradise Valley location. Enjoy resort living w/ full amenities at adjacent resort combined with distinct architectural designs and indoor living extending to 800+ sq.ft. Outdoor deck by 9 ft high bi-fold doors. Enjoy views of Camelback Mountain and Piestawa Mtn while looking over the golf course. This Villa has 20 ft high entry with private elevator/stairs to living level. Luxurious designer features include, Custom flooring and countertops, Wolf combo dual fuel range oven, steam oven and microwave, Sub Zero refrigerator, Asko dishwasher, Zephyr hood,10 ft high ceilings, indoor/outdoor fireplaces, 3 bedroom, 3.5-bathroom, 2 car driveway, 2 car garage 24 hr guarded entry, & more!

7. 6168 N Las Brisas Dr – VILLAS AT MOUNTAIN SHADOWS | $2,298,000 – 3,615 sf

The 7 most expensive penthouses & luxury condos sales in Arizona 2018 are 6

The Scoop: Luxury New Villa with iconic Camelback Mountain views in Mountain Shadows Resort Paradise Valley location. Enjoy resort living w/ full amenities at adjacent resort combined with distinct architectural designs. Enjoy views of Camelback Mountain and Piestewa Mtn while looking over the golf course from 800+ sq. ft. Outdoor deck. This Villa has 20 ft. high entry foyer with private elevator/stairs to living level. Luxurious designer features include, Custom flooring and countertops, Wolf combo dual fuel range oven, steam oven and microwave, Sub Zero refrigerator, wine storage cabinet, 2 Asko dishwashers, 48” Zephyr hood,9 ft. bi-fold doors to deck, 10 ft. high ceilings, indoor/outdoor fireplaces, 3 bedroom, 3.5 bathroom, 2 car driveway, 2 car attached garage, 24 hr. guarded entry, & more

Luxury penthouses and high-rise condos in recent years have become the crème of the Phoenix-Scottsdale real estate market, especially in urban areas. Hence, when we speak of the most expensive penthouses for sale, one is immediately flooded with images of grandeur that is befitting the rich and the affluent. Most of these luxury condominiums and condos are spread across some of the most desirables valley locations, offering not only a lavish and comfortable lifestyle, but also breathtaking views of the cities they are located in. From Scottsdale to Phoenix to Paradise Valley, these luxuries real estate provide their occupants or owners with the most astounding features and desirable amenities to make their opulent lifestyles all the more luxurious. If you are looking to live the Penthouse lifestyle, downsizing, or relocating to Phoenix – Scottsdale – Paradise Valley areas let me (Luxury Realtor Juan Pesqueira) help you find your lifestyle property…

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Luxury penthouses and high-rise condos for sale

The 3 Most Expensive Homes & Mansions Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are…


Scottsdale-Phoenix-Paradise Valley, AZ — With 2018 coming to a close, here is a look at the 5 most expensive homes that sold in the 3 most expensive cities in Arizona.

Without further ado, take a peek at the most expensive houses sold, according to ARMLS (No pocket or off market listings were included).

Scottsdale, AZ

 20450 N 108Th Pl | Silverleaf – $17,500,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are

20,000 sf. 6 bedrooms/14 bathrooms. 4 acres. 8+ car garage

The scoop: Spectacular mountain and city light views come with this luxurious estate situated on 4 private acres on the 6th hole of the Tom Weiscopf designed Silverleaf golf course and adjacent to the McDowell Mountain preserve’s hiking trails. All the main living areas including the Master suite are located on the first level. The home boasts 5 indoor and outdoor kitchens, 2 elevators, a virtual reality/golf simulator room, gymnasium w/ basketball court, volleyball court and rock-climbing wall, home theater, fitness center w/steam room, detached guest house w/ private drive, 8 garages, high-tech game room, estate pool, multiple spas, state of the art security & home automation. Shown by appointment only. Buyer to pay the DC Ranch Community Transfer Fee of 0.5% of the sale price.

 10851 E Wingspan Way | Silverleaf – $10,300,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 1

12,500 sf. 7 bedrooms/10 bathrooms. 2 acres. 5+ car garage

The scoop: Nestled in the upper canyon of Silverleaf, this one of a kind custom home was designed and built for the lifestyle you deserve! From the moment you pull up to the privately gated motor court you will be totally impressed! The interior is spacious, comfortable, casual, yet elegant. The floor plan was designed for entertaining. The main house features a main level master suite plus 4 additional en-suite bedrooms, private office, exercise room, and home theatre. The automated pocket doors bring in the outdoor living space. Enjoy the lazy river, pool cabana, and swim up bar while watching amazing sunsets, city lights, and views directly down the runway of the Scottsdale Airpark. Built by John Schultz Development and custom crafted by Kristin Hazen Design. What memories will you make?

10995 E Wingspan Way | Silverleaf – $7,300,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 3

11,000 sf. 5 bedrooms/9.5 bathrooms. 2.4+ acres. 7+ car garage.

The scoop: (RECENTLY REDUCED OVER $1M) – Nestled in the Upper Canyon of Silverleaf you will find this one of a kind compound. Master suite includes a private outdoor spa, separate his & her bathrooms/closets, and see-through fireplace. This primary residence (10,139 square feet) and separate guest house with full kitchen (724 square feet) were designed to entertain and are equipped with 14 fireplaces, 2 fire pits, 7 high ceiling garages (capable of holding 11 cars comfortably with lifts), 2 separate BBQ stations, 2 fire pits, 2 private courtyards and more!

Phoenix, AZ

4821 E Exeter Blvd | Arcadia – $4,100,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 4

5,400 sf. 4 bedrooms/5 bathrooms. 28,346 sf lot. 3 car garages

The Scoop: Location Location Location: Surrounded by the most prestigious homes in all of Arcadia, this gated, Belgian Farmhouse designed by Candelaria and built by Nance Construction sits on one of the best lots in all of Arcadia. Large Private Exeter lot features lush, mature landscape designed by Berghoff. Handcrafted elements include hand applied plaster walls, reclaimed Cream Brick walls and fireplaces, Waterworks Plumbing Fixtures/Tile, 4 bed and bath with 2 powder baths, Private Office with fireplace and built in shelves/desk, Dining Room with special white oak built in china cabinet, Large Master Suite with fireplace and large custom closet with island, Butler’s Pantry with reclaimed brick/glass wine unit, ice maker and polished nickel sink, Kitchen is completely equipped with white oak kitchen island, Viking/Wolf/Sub Zero appliances, walk-in pantry, mudroom and laundry with 4 Electrolux machines, 3 car garage. Lot is gated yet has beautiful front patio/fireplace to entertain your neighbors and friends and a private rear yard that must be seen. Barbecue patio/eating space/fountain/veggie gardens off kitchen, large fire pit and limestone patio and a brand-new pool/spa with Ramada and fireplace. 
Lutron Lighting system/speakers/AV ready/wired for security cameras.

 5105 E Exeter Blvd | Arcadia – $3,875,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 5

6385, sf. 5 bedrooms/4 bathrooms. 1.9 acres.

The Scoop: Historic Spanish Colonial Revival Estate located on one of the most exclusive tree-lined streets in the heart of Arcadia. Enter the private gates of this one-of-a-kind nearly 2-acre lush green property nestled at the base of Camelback Mountain. Once considered for the state Governor’s mansion, and later serving as Miss Kitty of Gunsmoke’s residence for 17 years, this iconic 1920’s home exudes character, charm, and elegance! The home is beautifully situated back from the street offering privacy and grandeur. Outside highlights include arched windows, iron balconies, Moreno tiled entryway that leads to a front door with delicately patterned stained glass. Remodeled numerous times, this light airy 6400 + sq ft open floor plan is a perfect haven for families and amazing for entertaining with multiple French doors leading to the back patio. This 5 Bedroom and 4 Bath home also has a large sunny pool room for convenient access to the pool and spa. The Showpiece Gourmet Kitchen has light-colored slab granite, commercial 6 burner gas range, double ovens, double dishwashers, three sinks, Subzero Refrigerator, and a large walk-in pantry. The Master Suite is located on the first floor with Luxurious Spa-like Master Bath and beautiful oversized shower. The first floor includes a casually elegant living room with 11 ft coved ceiling, majestic mountain views, and a fireplace modeled after the nearby Phoenician’s. The kitchen and oversized family room boast brick walls from the original 1920’s home. Also, on the main floor is a private two-stationed custom office, formal dining room with a domed ceiling, grand crystal chandelier, clear leaded glass transoms, domed ceiling foyer, and cozy library off the living room. In the former basement is a new walk-in 1500 bottle wine room, wine-tasting room, and a large work out room with herringbone patterned brick floors. Resort style grounds include numerous patios, oversized 42′ long pool, large 12-person Jacuzzi/spa, outdoor kitchen, and Hopi/Arcadia schools. Too many extras to list! Featured on the cover of Phoenix Home and Garden and selected for the prestigious Palette of Homes Tour. This piece of Arcadia magic can be your dream home!

5915 E Calle Del Sud | Arcadia – $3,750,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 6

7,875 sf. 5 bedrooms/7 bathrooms. 24,728 sf lot. 4+ car garage.

The Scoop: This brand-new custom showpiece, created by the ultra-talented team at Brimley Development is loaded with timeless, modern design. Caroline DeCesare, the visionary behind DeCesare Design Group, produced a classic, yet current vibe that shines throughout every beautiful room, from the outstanding chef’s kitchen to the breathtaking master retreat. Not a detail was overlooked from the hidden elevator to the restaurant style wet bar, and the finishes are absolutely exquisite. The butler’s pantry off the kitchen, the morning bar in the master, and the magnificent wine wall in the dining room are just some of the stylish features that make this home so special, and quality millwork, artistic lighting and multiple custom fireplaces create an amazing atmosphere. The grounds are exceptional offering a gorgeous pool with water features, spacious spa, exposed brick fireplace, and bocce ball court, and fully retractable doors open to beautiful patios that look out onto the breathtaking landscape. Impeccable finishes, design perfection and magnificent ambience just begin to tell the story of the unique custom estate!

Paradise Valley, AZ

6108 E Redwing Rd | $6,175,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 7

10,127 sf. 6 bedrooms/8 bathrooms. 1.7+ acres. 8+ car garages.

The Scoop: Nothing of its kind seen on the market, unparalleled quality and perfection all come together for an amazing estate home. Sitting on 1.73 acres with heavily landscaped grounds, which include a putting/chipping green, 2 outdoor fireplaces, a real fire pit and a fire table on top of the view deck which showcase the breathtaking views of camelback/praying monk and mummy. Interiors host a 480-bottle wine wall in dining room, butler’s pantry with coffee machine, grand kitchen with walk in custom pantry, a game/theater room with bifold doors to outdoor entertaining, 2 powder rooms, glass wall huge exercise room. A 2-bed guest house with full kitchen, private patio and own garage. A gated auto court leads you to the 8 garages, one is a rv oversized door air conditioned and includes indoor basketball with pickle ball. Lots of storage and built in garage cabinets. The master features a private patio with a 6-person jacuzzi hot tub. Captivating views seen all throughout the home of mummy and camelback. Nothing was overlooked in this home and it will be one never seen again. Outdoor pool/spa will hand down be the best seen with the ramada shading the swim up bar and pool lounge areas/spa. Built in sunshields, umbrella sleeves and misters will make summers a joy. Too much to list with this one of a kind estate home!!

5220 N Casa Blanca Dr | Camelback Lands – $6,100,000

Andrew Pielage Photography

9,490 sf. 6 bedrooms/7 bathrooms. 1.4 acres. 4+ car garage.

The Scoop: This 2017 privately gated 6 bedroom,7 bath,9,490sf Transitional 1.36-acre estate, with 2 guest suites, is located on one of the most prestigious streets in Paradise Valley. The heart of the home is an impressive dual island chef’s kitchen with Wolf and Sub-Zero appliances. It flows into the family room creating 70 ft of uninterrupted open living space. The family room’s full entertainment bar also services the adjoining 12 seat home theatre. Multiple motorized pocket doors open to a huge, green backyard pastureland with sport court, putting green, resort-size pool steps away from a ramada with fireplace, a BBQ area and covered entertainment patios. The home s ceilings possess beautiful attention to detail: the living room’s 17 ft dark wood beamed, the dining room’s coffered ceiling.

6121 E Orchid Ln | $6,000,000

The 3 Most Expensive Homes Sold in Scottsdale, Phoenix, and Paradise Valley In 2018 are 9

9,830 sf. 5 bedrooms/7 bathrooms. 1.3 acres. 4+ car garage.

The Scoop:  THE TIME IS NOW! | CASUAL FRENCH EXCELLENCE | MRA Custom Homes presents: This breathtaking European-esque timeless masterpiece was built to last a lifetime with solid masonry construction coupled with only the finest and most exquisite finishes. Unobstructed Mummy Mountain Views from the backyard from nearly every South facing window and door. Lower operating costs thanks to the multi-layered roof system, a 9.2 K.W. solar photo-voltaic system, 2 solar water heaters, and the full use of a PRIVATE WELL for irrigation. Allows for grand entertaining but skillfully designed for year-round intimate enjoyment. Never occupied and IMPECCABLY maintained! PRICED FAR BELOW A 2017 APPRAISAL!

ARMLS data shows Scottsdale had 7 sales above $5 million and Paradise Valley had 11 sales above $5 million. The Phoenix market topped out just above $4 million. There were a few off the market sales ranging upwards of $10 million.

The Arizona luxury real estate market continues to see a surge in expensive home sales. We keep breaking records. Last year we broke a record above $15 million, this year at $17.5 million. Will 2019 continue to break records, is think we might say luxury agent Juan Pesqueira. We might finally hit the $20 million price…

P:S – these homes could change as we might see a new leader after the year seeing that we have 5 homes pending above $5 million…

Search luxury real estate in Scottsdale, Phoenix, and Paradise Valley for sale @

LAVISHPaDz.com

Photos & Info: Estancia Scottsdale Southwestern adobe-style compound set amongst boulders to sell at auction


Scottsdale – Arizona

Neighborhood: ESTANCIA

Features:

  • 8 BEDS
  • 11 BATHS
  • 14,231 sf
  • 6 acres
  • Asking Price: $9.5M. Selling Without Reserve
  • Auction Company: ConciergeAuctions

Estancia Scottsdale Southwestern adobe-style compound set amongst boulders to sell at auction 11

Once priced as high as $15 million! This is one of the most beautiful adobe style homes in Arizona. It’s also very photogenic as you can see. Based on the current record-breaking home sales this year, this $9.5 million price tag seems like a bargain.

Estancia Scottsdale Southwestern adobe-style compound set amongst boulders to sell at auction 1

Located in the world-renowned golf community of Estancia in Scottsdale, Arizona. The multi-structure compound emulates the natural terrain and creates a resort atmosphere perfect for family and guests while maintaining the utmost privacy. 

Estancia Scottsdale homes for sale

AUCTION: Nestled amidst spectacular pink-hued sunsets and unparalleled mountain views is 27341 North 102nd Street, a stunning compound on 3.6 acres. A traditional adobe exterior reveals a light-filled, open-plan contemporary interior. Soaring ceilings, skylights, rough-hewn wood, and stone are flawless complements to the beauty of your natural surroundings. Swim, hike, stargaze, or enjoy casual meals in your choice of incredible outdoor living spaces. This multi-structure Southwestern oasis will host your family or large-groups for memorable getaways for years to come and is destined to be a beloved retreat. The listing is held with Walt Danley Realty

For more information about the property, auction terms, photos visit this website or for direct agent contact reach out to Waltdanley Realty

 

For more information about the property, auction terms, visit this website

$2.9M Modern Masterpiece with simplicity of design & open living spaces by architect Terry Kilbane


Scottsdale – Arizona

Neighborhood: Desert Mountain

Features:

  • 4 BEDS
  • 5 BATHS
  • 4706 sf
  • 3 Garage Parking
  • Asking Price: $2.895 million

$2.9M Modern Masterpiece with simplicity of design & open living spaces by architect Terry Kilbane 1

Today’s home of the day takes us to Desert Mountain’s Cintarosa saguaro preserv. This modern masterpiece is a design by architect Terry Kilbane. This home caught our eye because of the complex yet simple design that blends perfectly with the desert landscape. 

Realtor Remarks: Welcome to the pristine setting of Desert Mountain’s Cintarosa saguaro preserve, just steps from the community’s private hiking trail system bordering Tonto National Forest. Take in the grandeur of magnificent mountain panoramas from the expansive poolside patio with additional covered outdoor living & dining areas. Enjoy grand city light views from the firepit setting on the sunset patio. Architect Terry Kilbane designed this home in today’s trending style of modern architecture, with simplicity of design and open living spaces that complement the serene Sonoran Desert setting. Generous living spaces are appointed with the materials, finishes, appliances and fixtures demanded by our discerning buyers. Stunning master suite with spa bath and fabulous closet space, a view office, and three private guest suites complete this picture-perfect desert retreat. Convenient to Cochise-Geronimo and Chiricahua clubhouses and golf courses. The 2.4 acre site with a building envelope of 31,000+ sf has ample room for a guest house expansion. View “Documents Tab” for location within Community and Village.

This listing is with Russ Lyon Sotheby’s International Realty Bee M Francis & Anne Morrissey. For more photos/info visit the Russ Lyon Sotheby’s International Realty website…

For Sale: Desert Mountain Real Estate | Desert Mountain Lots

9435 E RISING SUN DR 46, Scottsdale, AZ 85262

 

Interested in this house, houses similar, or another on site feel free to reach out to us and let us know…

 

7 Oops for NOT selling a Luxury Home | Scottsdale, Arizona 


07_golf2Selling your Luxury home in Scottsdale, (Paradise Valley and Phoenix) Arizona is a complicated and hot (no pun intended) process.  It’s natural to feel overwhelmed by the magnitude of details involved, but the experience can be very manageable—and educational! —when broken down into its component parts and plotted out into steps.  The following is a list of common pitfalls/mistakes encountered during the luxury home-selling process.  Use these as a guide to help your journey remain a smooth one. 

Did you know that only 60% of homes with $1,000,000+ price tag sells? The odds are not that great. Most luxury home sellers will go through a couple of agents before they finally sell their property. And most luxury home take 6 months to a year+ to get sold says luxury home realtor Juan Pesqueira

Mistake #1. Faulty Pricing:

It is essential you determine the asking price of your home based on its market value.  Too many times home-sellers let emotions or needs influence their asking price, drawing from numbers based on the price paid for the house originally, or the amount of money they’ve invested in the home.  This mistake may prove to be a costly one.  If your home is priced significantly higher than what the market is bearing at the time, prospective buyers interested in your style of home will reject it for larger homes listed at the same price.  And, those buyers who do see your house may have significantly higher expectations than what you have to offer.  Ironically, over-pricing your home actually increases the chances that your home will sell for less than it is worth.  Driving prospective buyers away will increase the amount of time your home stays on the market, which raises an additional red flag for buyers.  They become wary of the reasons your home has not sold, thinking, “If no one else has bought it, there must be something wrong with it.”  The bottom line:  price it correctly, and they will come.

Be vigilant, too, of pricing your home too low:  a lack of market value awareness could result in selling your home for much less than it’s worth.

Advice from Juan Pesqueira – Let me add a little more. Let’s keep in 100 here

  • 9 out of 10 times the reason a house or real estate does not sell is because its overpriced or you timed the market wrong.
  • There are some homes/properties so unique it will demand the highest asking price. This home has the potential to break a record or command the highest list/sales price. You might own the largest or most expensive home in the neighborhood or city and no comps exist. This is when its OK to over price the market, its ok to demand the highest list price, but understand that it could take months or years to sell so be patient. Records are meant to be broken…

Mistake #2. Neglecting to showcase your home:

Take the time to ensure you’re offering the best possible first impression of your home to buyers.  A few improvements done to your home before placing it on the market can increase the chances of selling quickly, and for more money.  When buyers spot an area of your home in need of repair, they consider this perceived cost when deciding upon an offer price—if they haven’t already been scared away.  And since buyers often aren’t sure about the cost involved for repairs, they will create a larger margin for error in their asking price.  Sellers are always better off dealing with these repairs themselves. In addition to taking care of fix-ups, make sure the house is clean and welcoming, and the yard is well-groomed.

Mistake #3. Choosing the wrong Realtor:

Many sellers choose the realtor who tells them the highest asking price or lists/sells the most listings.  This should never be the sole basis on which you choose a realtor—you must have confidence in the full spectrum of your realtor’s experience and abilities.  Keep the following questions in mind: can this agent explain to you all aspects of the selling process?  Does s/he have a good grasp of the market?  Does s/he have access to a large pool of buyers and a marketing plan to attract them?  An experienced realtor will usually cost the same as an inexperienced realtor and holding out for experience could mean more security that your ultimate home-selling goals will be attained. 

Advice from Juan Pesqueira – Let me add a little more. 

  • You are hiring the agent, not the brokerage. Will the brokerage answer you calls late at night, weekends, or during non-business hours? NO, the agent will. Don’t shy away from agents in small or boutique style real estate brokerages. Some of the top agents choose the smaller companies due to commission splits or loyalty to the broker. You do have some heavy hitters with large brokerages like Sotheby’s, the agency, Re/Max, etc. Brand awareness is important but focus on the individual agent you interview. 
  • Don’t judge a book by its cover, maybe the best agent is not the one driving the luxury car or carries the most listings. Some agents had to start at the bottom, not all of us are born into the business or had the money to market to the higher end buyers/sellers. Take it as a privilege or compliment to be their 1st luxury home client. You never know, they could be the next Walt Danley, Robert Joffe, Joan Levinson, etc.
  • Ask yourself this when this when you interview your next agent, “how the hell did this guy get to be interviewed by me to list my home, how is he sitting in front of me? If this agent is new (not a friend or family) or some outsider that might not sell many high-end real estates, then he must be doing something right just to be interviewed by you. He somehow got your attention, give him/her a shot. What’s the worst that can happen? The property sells…

Mistake #4 Trying to “Hard Sell” During Showing:

Buying a home can be an emotional and stressful decision, and potential home-buyers don’t want to feel pressured when viewing a home.  So, let your home speak for itself.  Allow potential home-buyers to comfortably view the house and property.  Don’t try haggling or pointing out every improvement you’ve made.  Good realtors let buyers discover the house for themselves, only pointing out features they’re sure will be of interest and being receptive to any questions the buyers might have.

Mistaking #5. “looky loos” for “Buyers”:

Some people who look at your home may not be serious about buying.  Many who view homes may just be getting a feel for the market, gathering ideas for “showcasing” their own home, or even just looking for decorating tips.  Of the people who are looking to buy, those who do not come through a realtor can be 6 to 12 months away from buying. They may still be in the process of selling their own home or saving money for a new one.

An experienced realtor is trained to separate the “Lookers” from the “Buyers.”  Realtors should usually establish a potential buyer’s savings, credit rating, and purchasing power.  If your realtor hasn’t looked into a buyer’s financial background, you should take the time to investigate.  This will save you valuable time in marketing toward the wrong people.

Mistake #6. Limiting the marketing and advertising of the property:

A good Realtor will ensure that your property is showcased and marketed in the best, most effective manner possible, employing a wide spectrum of marketing techniques.  He or she should be committed to selling your property, making the effort to distinguish your home from the hundreds of other homes on the market.  Most calls are received—and viewings scheduled—during business hours, so your realtor should be available to field these calls from prospective buyers.  Lack of realtor availability, limited viewing times, not allowing a “For Sale” sign on your front lawn, can all affect the exposure your home gets to the pool of potential buyers, and will ultimately affect your bottom line.

Mistake #7. Being unaware of your rights and responsibilities:

It is essential that you are thoroughly aware of the details involved in your real estate contract.  These contracts are often complex—but no matter how confusing and convoluted the language, the contract is legally binding.  As you soon as you sign your name, you are responsible for all of its contents.  Not knowing your responsibilities could cost you thousands in repairs and inspections.  Have an experienced realtor explain the contract to you, or get your lawyer to review it, before you accept.

Berridge-010

 

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DONT MAKE THESE 7 OPPS WHEN SELLING, CONTACT JUAN PESQUEIRA FOR A LISTING CONSULTATION.

8930 # Raintree Drive Scottsdale Az 85260

Attorneys Realty | C: 480.458.8007 | O: 480.767.6900

E: LavishPadBoutique@gmail.com

 

A Private Oasis or Custom Home on 5 acres with horse barn in Scottsdale. You decide!


Scottsdale, Arizona has an abundance of homes for sale. Here we look at two completely different types of properties for sale. One is a traditional home in Scottsdale with an oasis backyard and the other is a Beautiful custom home on 5 acres with horse barn & spectacular mountain views! What stands out is the asking prices, both under a million bucks in North Scottsdale. Two great choices, two completely different pads…

29825 N 78TH WAY, Scottsdale, AZ 85266 12

  1. 29825 N 78TH WAY, Scottsdale, AZ 85266

Specs: 4 Bedrooms, 2.5 Bathrooms, 3051 sf, 3 car garages in the subdivision of LAS PIEDRAS.

Described as Private Oasis! This beautiful home is tucked away on a huge private lot with pool. High ceilings and travertine floors invite you into this luxury home. The gourmet kitchen features updated and designer finishes including a gas cook-top, double ovens, island and breakfast bar. The Master suite is a private retreat on the opposite side of the house from the other bedrooms. Enjoy the resort-like backyard with new travertine pavers, sparkling pool, spa, built-in BBQ area, grass and shade trees! New designer carpet and paint complement any decor.

Asking price: $675,000

30307 N 162nd WAY, Scottsdale, AZ 85262 16

  1. 30307 N 162nd WAY, Scottsdale, AZ 85262

Specs: 5 bedrooms, 4 bathrooms, 3356 sf, and 3 car garages.

Now this home makes a statement! Beautiful custom home on 5 acres with horse barn & spectacular mountain views! This wonderfully maintained home has it all with a flowing open floor plan. Entertain from the large kitchen that has ample storage for all your family & entertaining needs. Enjoy the tranquility of this home & its incredible views from the expansive covered patio & pool area or go up on the roof top deck to soak it all in! The barn is ready for your horses, has 6 stalls that could be turned into 12, large tack room, hay storage, fly-spray misting system & exercise arena. There is a total of 8,000 gallons water storage tanks & a monitoring system for water service. Private & quiet, at end of the road so you won’t have any through traffic! This custom horse property is ready for you to call it home!

Asking price: $860,000

 Comment below which home you prefer

Search homes for sale Scottsdale

If your in the market for a ranch or traditional Scottsdale home or would like to take a tour of any of these properties above feel free to reach out to us

Attorneys Realty is the listing broker

 

 

 

this Move-in ready ENCLAVE AT BORGATA Penthouse is on sale for $3.8Millones


Penthouse B4003 at 6166 N Scottsdale Rd, where Scottsdale meets Paradise Valley, has hit the market (again) for $3.8 million. Best of both worlds at ENCLAVE AT BORGATA because it comes with a Paradise Valley zip code, but you know it as Scottsdale location.  

ENCLAVE AT BORGATA Penthouse 9

The 5,405-square-foot residence features 4 bedrooms and 6 baths, some of the finest finishes, Portuguese limestone floors, and some of the finest amenities that rival world class resorts include, concierge services, gated entries, a refreshing pool, intimate gardens, a fitness center, and relaxing club room. The price tag for this move-in ready, lock and leave, sexy & sleek penthouse is $3,775,000…

ENCLAVE AT BORGATA Penthouse 17

Listing agents: Raul Siqueiros & Jack Luciano – Located where Scottsdale meets Paradise Valley is The Enclave at Borgata. The Penthouse residence is ideally situated at a corner location within this thoughtfully designed community. Special views of Camelback Mountain and light filled rooms surround you while the interiors of the residence are inclusive of the finest finishes. Portuguese limestone floors, Calcutta marble tops, Sherle Wagner hardware, and top tier appliances. Intricate millwork lines hallways and closet spaces, while Emperador marble surrounds several fireplaces. Amenities that rival world class resorts include, concierge services, gated entries, a refreshing pool, intimate gardens, a fitness center, and relaxing club room. This lock and leave home is inclusive of a four-car garage, ample storage units and two design. This lock and leave home is inclusive of a four-car garage, ample storage units and two designated parking spaces. Walking distance to several shopping and fine dining experiences this residence is perfect for the most discerning buyer.

Listing broker: The Agency

ENCLAVE AT BORGATA condos and penthouses for sale

ENCLAVE AT BORGATA condos and penthouses for sale

9 DO’s and Do NOT’S when Buying Investment Properties in Phoenix-Scottsdale-Tempe, Arizona


Are you looking to buy investment properties in the greater Phoenix – Scottsdale – Tempe – Paradise Valley market?

Aerial-of-Canal-Art-in-Scottsdale

The valley of the Sun is smart place to invest your money whether you’ve been buying homes, condos, and apartments to rent in this area for a while, buying your retirement home and leasing till you move in, or you’re looking to add to your financial portfolio horizons in the desert of Arizona.

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Before you commit to a place within the Valley of the Sun, however, there’s several things you should and should not do to make the best moves. Here are (Juan Pesqueira Realtor and Appraiser) 9 do’s and don’ts when buying investment properties in Phoenix to enjoy the benefits and avoid the pitfalls of joining the real estate game in Arizona.

The 5 Dos when Buying Investment Properties in the Phoenix metro, Scottsdale, Tempe, and throughout Maricopa County.

If you’re interested in using real estate to increase your personal capital, the available properties in Phoenix, Scottsdale, Tempe, Paradise Valley area can be sound investments. The combination of lower interest rates and the potential for the resale values of said properties to grow over time sets the stage for return on investments that could work out in your favor.

Before you take a chance on reaping the benefits of successful investment properties in Arizona, nevertheless, you should learn as much as you can about real estate in this area. It’s easy to dish out million dollars for properties in and around Phoenix, so keep these do’s in mind when looking for the right investment property for you…

1. HIRE A REALTOR and APPRAISER

REALTORS® are known for helping people buy and sell real estate, but much of what a REALTOR® actually does to earn their commission happens behind the scenes. A good REALTOR® will make your real estate transaction flow smoothly through each step of the process, leaving the impression that their job is fairly simple… https://lightersideofrealestate.com/real-estate-life/agent-life/what-does-a-realtor-do-to-earn-their-commission

An appraisal is a professional appraiser’s opinion of value. The preparation of an appraisal involves research into appropriate market areas; the assembly and analysis of information pertinent to a property; and the knowledge, experience, and professional judgment of the appraiser. https://www.appraisalinstitute.org/appraisal-profession/

2. CONSIDER THE TAX BENEFITS

The first thing you should do when buying investment properties in Phoenix, Scottsdale, Tempe is considering the tax benefits (including 1031 exchange). With the income you’ll make from the property in mind, think about interest, taxes and insurance, while also focusing on things like losses against your income and wear and tear that you can deduct later on. The tax advantages can also include benefits like selling one rental property and using the funds to pay for another one without paying steep taxes on your profit. 

If you’re pursuing tax breaks through investment property in Phoenix, Scottsdale, Tempe, finally, make sure you’re well versed in the advantages and disadvantages of both Arizona’s property and income taxes. This is an are you should consult with your accountant.

3. TAKE PROPERTY TYPE INTO ACCOUNT

The second thing you should think about when investing in rental properties in the Valley of the Sun is taking property type into account. Once you’ve decided that you’re in the market for a rental property, 2nd home, vacation home, or retirement home. Do some homework on the sort of property that will help you reach your goals, while taking the city’s attractions and other amenities into consideration.

For example: Tempe (Home to Arizona State University #1 largest university in the country) is a college town, your #1 renter will be a college student with parents money for the most part. Condominiums and homes are great but consider the type of renter (college student). Full disclosure, I went to ASU, and boy we beat the shit out of the dorm room and our apartment unit. Consider damage when calculating cap rates.

Old town Scottsdale and Scottsdale in general is great for snowbird and young professionals renters. This area is also great for seasonal and Airbnb type rental.

Downtown Phoenix also gets college students because of ASU downtown campus but also business professionals, families, etc.

Maybe your looking for your future retirement property in North Scottsdale, Paradise Valley, Phoenix early on in life. You can easily rent out for the time being to cover cost and buy down the mortgage. You’re ready to retire and move (if not payed cash) financially you’ll be better off.

Millennials are buying property and renting a part of your residence to save money. Vacation homes and condominiums is another way to generate extra income. If you’re focusing on the Phoenix area, think about attractions like Arizona State University, golf courses, Old Town Scottsdale, Downtown Phoenix, Fashion Square Mall, Sky Harbor airport, Sports team locations (Arizona Diamondbacks, Phoenix Suns, Arizona Cardinals) and concert venues, and others that cater to the city’s tourists, families, and retirees.

4. BE AWARE OF THE CHANGING ECONOMIC LANDSCAPE

Be aware of the changing economic landscape in the Phoenix metro area. In addition to learning about Arizona’s real estate scene, get ahead of the game by thinking about the industries establishing themselves in Phoenix, Scottsdale, Tempe or in Maricopa County. Consider how your property could appeal to renters who work for these up-and-coming companies. Due to our inexpensive real estate and city tax benefits some major teck companies, finance companies, and insurance jobs, are relocating to Phoenix. According to our Governor of Arizona Doug Ducey “we are open for business” …

BBC News recently published an article about how financial firms—looking for a place to thrive—are saying, “Goodbye New York, Hello Arizona.” The story notes that, over the 12 months leading to March 2017, hiring for finance and insurance jobs in Arizona grew faster than any other state in the country:

All this can lead to lucrative investment properties if you play your cards right. A sound investment is offering housing close to the area’s for these thriving employers. This is an opportunity to take advantage of booming industries in the area and make business savvy decisions in Phoenix.

5. GO WITH YOUR GUT!

When the market crashed many investors left the Phoenix, Scottsdale, Tempe real estate market. Some went bankrupt, others choose to leave. During this time buyers were scared to buy investment properties. Some investment properties were as low as $60K – $100K and the luxury market dipped as low as $600K-$999K. Today those smart investors that went with their gut are reaping the rewards. The $60K – $100K properties are now valued at $190K – $250K and the $600K-$999K are now valued at $1.2M – $2M+. to quote Warren Buffet as an investor it is wise to be “Fearful when others are greedy and greedy when others are fearful.” 

The 4 DO NOT when Buying Investment Properties throughout Phoenix, Arizona

If you know what to do when spending money on Phoenix real estate, avert setbacks by also knowing what not to do when searching and buying investment properties. The drawbacks associated with buying investment properties often stem from financial issues and tax problems.

It’s easy to think you’ve found a golden property and then wind up with difficulties. Therefore, it’s best to understand the risks before you dive head first into this competitive real estate landscape. Real estate rental properties are not ideal financial moves for everyone in Phoenix, so make sure these don’ts – don’t end up costing you in the long-term.

6.    DON’T UNDERESTIMATE THE RESPONSIBILITIES ASSOCIATED WITH BEING A LANDLORD

Because valley locals pay high rents, they will want a landlord who is available immediately when issues arise, while also expecting more from their landlord in day-to-day life (See landlord tenant act). The responsibility of managing an extra property requires you to commit time and expend energy to make sure small repairs are completed around the property and your tenants are taken care of regularly. When you’re ready and willing to become a landlord here, consider how it might affect your day to day life. A GOOD PROPERTY MANAGER can take away this stress.

7.    CRUCH NUMBERS – ONCE…TWICE…THREE TIMES+

The 2nd thing included in the do’s and dont’s when buying investment properties in the Phoenix, Scottsdale, Tempe area is not slacking when computing the numbers. There are easy-to-use tools like online mortgage calculators at your disposal, your REALTOR, or an APPRAISER. Be sure to take advantage of these resources to estimate your future housing costs with the information you have about your current finances and how they relate to your properties of interest.

Costs, down payments, and taxes are as essential as insurance and interest rates, so don’t skimp on the details when figuring out the amount you should expect to pay each month. Take the time to see if buying an investment property in Arizona makes sense for you this year. You can make an informed move or avoid a detrimental one now for smart investment practices that will work out in your favor later on.

8.    RESEARCH LOCAL REAL ESTATE TRENDS & SPECIFIC PRoperty characteristics

When investing in rental properties in the Valley of the Sun, DO NOT forget to research local real estate trends. Even though you are working closely with a Realtor, an Appraiser, advisor of some sorts. And don’t forget to pay attention to property characteristics such as zoning & zoning laws, encroachments, building codes, HOAs, etc. while looking for rentals. The property characteristics will affect the property when its time to sell for a profit and reap your rewards. Also Having proper knowledge of local neighborhoods will help you in your search for a spot, especially when you consider schools, transportation, and recreation.

Given that tenants will be drawn to locations with ample shopping and dining opportunities, focus on up-and-coming communities, as well as ones that have been thriving in Phoenix for a while to refine your search and find hidden gems.

9.    GET EMOTIONAL and stick to the end game

The final thing you should make sure to remember when investing in rental properties in Phoenix is keep emotions out of the process and remember this is an investment! Unless your buying a retirement property, its best to stick to your numbers and game plan.

Are Looking to or considering buying an investment or retirement property in the Phoenix, Scottsdale, Tempe, or throughout Maricopa County? Contact TOP Realtor. Appraiser. Consultant Juan Pesqueira with Attorneys Realty – lets chat real estate investing and retirement what you are looking for…

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WORK WITH JUAN – CONTACT HERE

  • 8930 # Raintree Drive Scottsdale Az 85260
  • Attorneys Realty | C: 480.458.8007 | O: 480.767.6900
  • E: LavishPadBoutique@gmail.com

q1 2018 – Phoenix Luxury RE market sales higher than last year, no signs of slowing, & another record price broken


in 2018 and does not look like its stopping anytime soon! 

Through the first three months of 2018, Phoenix metro (Maricopa County) $1-million-plus homes market is performing well ahead of the same time period in 2017.

Juan Pesqueira reports sales in the Phoenix metro (Maricopa County) this year to the end of March reached 448 homes compared to 331 homes last year.

The bulk of the sales — 417 — were single-family homes, up from 331 last year.

The condominium market took a small step back with 31 sales of $1 million or more, a small decrease from 34 sales to the end of March last year.

Let’s compare the top 3 luxury home markets

$1,000,000+

2017

2018

Scottsdale 170 223
Paradise Valley 77 102
Phoenix 47 54

Of the sales, the bulk were in the $1-million to $2-million range.

Today (4/2/2018) there are currently 1,997 properties in Maricopa county with a $1,000,000 or more price tag and 359 are pending (CCBS or UCB).

At the end of 2017 we broke a record for the most expensive home ever sold in Arizona, that was in Paradise Valley selling for a whooping $15.65 Million.

Phoenix, Arizona area Luxury Real Estate market sales higher than last year...
Spectacular mountain and city light views come with this luxurious estate situated on 4 private acres on the 6th hole of the Tom Weiscopf designed Silverleaf golf course and adjacent to the McDowell Mountain preserve’s hiking trails. All the main living areas including the Master suite are located on the first level. The home boasts 5 indoor and outdoor kitchens, 2 elevators, a virtual reality/golf simulator room, gymnasium w/ basketball court, volleyball court and rock climbing wall, home theater, fitness center w/steam room, detached guest house w/ private drive, 8 garages, high-tech game room, estate pool, multiple spas, state of the art security & home automation. Sold $17.5 million by listing agnet Mike Domer of RE/MAX Excalibur and Frank Aazami of Russ Lyon Sotheby’s International Realty lyon was the buyers agent.

Records are made to be broken says Juan Pesqueira with Attorneys Realty, in February of 2018 a luxurious estate situated on 4 private acres on the 6th hole of the Tom Weiscopf designed Silverleaf golf course recorded with a $17.5 million-dollar price tag, making that the most expensive home every sold in Arizona.

“Top-tier sales in the first three months of 2018 reflected the buyers’ readiness to act.” We are seeing promising trends that will continue to go up. High inventory gives buyers options. If you’re a buyer be ready to act because the good properties are not lasting even at the top tier markets. Arizona is a bargain for the California, Miami, New York, and other countries. If you’re a seller staying current on the latest trends will be challenging, but crucial. It’s going to be important for consumers to adapt their strategy to market conditions as they will continue to change.” – Juan Pesqueira