{"id":8040,"date":"2020-02-10T12:31:31","date_gmt":"2020-02-10T19:31:31","guid":{"rendered":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/?p=8040"},"modified":"2020-02-10T12:31:33","modified_gmt":"2020-02-10T19:31:33","slug":"phoenix-metro-high-end-luxury-home-report","status":"publish","type":"post","link":"https:\/\/www.arizonafoothillsmagazine.com\/in-house\/in-house-news\/phoenix-metro-high-end-luxury-home-report","title":{"rendered":"Phoenix Metro High-End Luxury-Home Report"},"content":{"rendered":"\n<p><em>By David M. Brown<\/em><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"639\"  height=\"1024\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-50x80.jpg\"  alt=\"\"  class=\"wp-image-8041 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 639px) 100vw, 639px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-639x1024.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-639x1024.jpg 639w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-187x300.jpg 187w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-380x609.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-80x128.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-50x80.jpg 50w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-68x109.jpg 68w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank-620x994.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135721\/frank.jpg 740w\" ><\/figure>\n\n\n\n<p>Good deal, bad deal?<\/p>\n\n\n\n<p>What makes\na luxury home sale a solid transaction for the seller or the buyer in Maricopa\nCounty, Arizona? When isn\u2019t a sale good for one or the other? Did the buyer pay\ntoo much; could the seller have gotten more money? Here\u2019s our perspective on\nwhat went right, what went wrong.<\/p>\n\n\n\n<p>In 2019, 16 homes recorded above $7 million, almost four times greater than 2018 numbers in booming Maricopa County, an acceptable estate-luxury starting point for area closings. Frank Aazami, Global Advisor, and principal of the Private Client Group, Russ Lyon Sotheby\u2019s International Realty in Scottsdale, recently evaluated these sales based on location, size, acreage, age condition, future salability, amenities plus other circumstances such as orientation, access and floor plan.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"1016\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-59x80.jpg\"  alt=\"\"  class=\"wp-image-8042 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-750x1016.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-750x1016.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-221x300.jpg 221w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-756x1024.jpg 756w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-768x1040.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-380x515.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-800x1084.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-80x109.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-59x80.jpg 59w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-620x840.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2-850x1151.jpg 850w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135727\/frank2.jpg 942w\" ><\/figure>\n\n\n\n<p>Of the\napproximately 98,000 Multiple Listing Service Sold properties in 2019, these\nsingle-family homes represent an ethereal territory where only the wealthy\nventure. With about 70 percent of the sales, in fact, were \u201call cash\u201d, and just\nmore than 50 percent were out-of-state buyers.&nbsp;<\/p>\n\n\n\n<p>\u201cThe first thing you notice from the concentration of sales is that they are in Paradise Valley, specifically east of Tatum Boulevard, and Silverleaf in north Scottsdale, with the remainder at Desert Mountain in far north Scottsdale east of Carefree\/Cave Creek,\u201d Aazami explains. \u201cThese continue to be the premium areas in the Valley of the Sun, including other luxury communities such as Estancia and DC Ranch. The key zip-codes are 85253, 85255 and 85262.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"389\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-80x41.jpg\"  alt=\"\"  class=\"wp-image-8043 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-750x389.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-750x389.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-300x155.jpg 300w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-1024x530.jpg 1024w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-768x398.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-380x197.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-800x414.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-1160x601.jpg 1160w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-80x41.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-620x321.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4-850x440.jpg 850w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135734\/frank4.jpg 1500w\" ><\/figure>\n\n\n\n<p>Aazami adds: \u201cWe believe all buyers and sellers should have seasoned\nrepresentation. In particular, those outside these popular areas looking to\nsell or buy at this level should interview, then select an expert who will best\npromote, track and convert buyers from viewing into buying.\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North Yucca Road, Paradise Valley \u2013\u2013<\/strong>\n$19,250,000 ($25,000,000 as a private listing); Price\/Square\nFoot:&nbsp;$686.45; Year Built:&nbsp;2009: \u201cThis wasn\u2019t a publicized\nsale, but it was a very good buy. This area represents the most blue chip dirt\nin the Valley, with many \u2018significant SIR clients\u2019 residing here. It would cost\nyou well over a $1,000 a foot to build this quality of home. <\/li><\/ul>\n\n\n\n<p>\u201cI would have introduced it on the market for $28 million\nthrough Sotheby\u2019s Internal Realty\u2019s \u2018Confidential\u2019 program as an exclusive\noffering only for our existing 15,000 high-end worldwide Art, Wine and fine\nJewelry Auction House clients, who have an exclusive privilege to decide for priority\nperiod of three months before a general release.\u201d <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 108th Place, Scottsdale (Silverleaf),\n\u2013\u2013<\/strong> $17,500,000 (listed, $17,995,000); $875 per square foot;\n2012: \u201cIt was shop worn, with 2,261 cumulative days on the market. A nice buy,\nalthough my original client was going to purchase&nbsp;it at higher price when\nit first came on the market but was denied access to show it.<\/li><\/ul>\n\n\n\n<p>\u201cAn\nidentical quality home, designed by the same architect and built by the same\nbuilder on 29 acres sold off-market, about the same time, with a smaller\nfootprint at $1,000 a square foot, for $19 million furnished. A good buy all in\nall.\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Starlight Way, Paradise Valley&nbsp;\u2013\u2013<\/strong> $15,680,000\n($18,000,000); $508; 2005: \u201cAnother large home on a signature street with an\nenormous guest house on seven acres, gated, with views of the McDowell\nMountains and Four Peaks. Quality builder, Kitchell, and well-known architect,\nVernon Swaback.<\/li><\/ul>\n\n\n\n<p>\u201cBut, it\u2019s\nan older home required updating and renovation work, say, $1 or $2 million. Not\na bad buy, but the owner had to drop the list price to accommodate the renewing\nmoney the home required.\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North Wilkinson Road, Paradise Valley&nbsp;\u2013\u2013<\/strong>\n$12,600,000 ($13,800,000); $819.19; 2009: \u201cBuyer overpaid by as much as $4\nmillion. The kitchen, baths, door heights and flooring was dated; yet\nthe home offered a lazy river, volleyball court, a separate guest home and\ncaretaker cottage. Fine homes on this street trade within $5 to $8 million. An\nexceptional neighboring home is listed at $15 million from 24, but it offers\nfive-star resort-level finishes.\u201d <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 68th Street, Paradise Valley<\/strong> \u2013\u2013\n$12,000,000 ($18,000,000); $669.94; 2016: \u201cGreat buy. It took 10 years to build\nit, with premier Venetian plaster over triple thick masonry walls, book-matched\ngranite slabs throughout the estate and furniture grade wood and\nironwork by artisans on site. A palatial masterpiece.<\/li><\/ul>\n\n\n\n<p>\u201cYou\u2019d\nhave to spend $20 million to build it, and it can\u2019t be reproduced on this\nacreage, because the town of PV changed the set-back and lot-coverage\nrequirements since. It was perfect for them; privacy and being close to the\ncountry club mattered.\u201d <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Wingspan Way, Scottsdale (Silverleaf) \u2013\u2013\n<\/strong>$10,300,000 ($10,500,000); $824; 2015: \u201cJohn Schultz, one\nof the best in the business, built the home. A good deal; it still has today\u2019s\nlook. It was a walk-in home for the new owners, with lots of light and bright\nlight earth tones and sweeping views.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Silvercrest, Clearwater Hills \u2013\u2013<\/strong> $9,500,000\n($9,800,000); $1,045; 2006: \u201cA great buy for both&nbsp;the seller and buyer.\nSuper views of Camelback and Mummy mountains and the Phoenix Mountain Preserve.\nThis classic European-design home, with just shy of 9,100\nsquare feet, offered a detached casita. The seller purchased it at $8\nmillion, renovated it to greater perfection. <\/li><\/ul>\n\n\n\n<p>\u201cOne downside is that the internal asset manager for the\nowner would not take our calls; he refused to revisit our offer, which might\nhave put the seller in a better position at close.\u201d<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East&nbsp;\nValley Vista Lane, Paradise Valley \u2013\u2013<\/strong> $9,500,000\n($10,750,000); $772.67; 2007: \u201cAbout 13,000 square feet on two and one-third\nacres on the north side of Camelback Mountain, with very nice homes up and down\nthe neighborhood. A fair price; the seller did very well, and the buyer got a\nwalk-in home with a ton of privacy and views.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 102nd Street Scottsdale (Desert\nMountain) \u2013\u2013 <\/strong>$9,300,000 ($9,950,000), $1,232.11; 2016: \u201cThis gorgeous\nhome is in the community\u2019s private upper reserve, the \u2018Canyon,\u2019 with great\nviews of the Valley. This is a \u2018want buy,\u2019 not a steal. The buyer bought what\nhe wanted. Gorgeous home. Exceptionally well designed and finished; *Sold\nfurnished* brought it to the 9\u2019s.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Joshua Tree Lane, Paradise Valley \u2013\u2013 <\/strong>$8,500,000\n($7,750,000); $808.83; 2011: \u201cNicely situated between Mummy Mountain and\nCamelback Mountain, this deal included furniture because it sold higher than\nlist. A little dated, but it offered lots of upgrades, the right floorplan and\nlocation for the buyer. Seller did extremely well for a street that hasn\u2019t\ngotten the numbers of some other luxury neighborhoods.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 102<sup>nd<\/sup> Street, Scottsdale\n(Desert Mountain) \u2013\u2013<\/strong> $8,500,000 ($9,495.000); $956.35; 2015: \u201cIn\nhigh-elevation Saguaro Forrest Village. Built by Manship, one of the Valley\u2019s\ntop-three custom home builders, with some great features. Good for the buyer,\nwho saved time and money not building it. Seller did extremely well on this\nfive-year-old resell.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Wilkinson Road (Paradise Valley) \u2013\u2013<\/strong>\n$8,500,000 ($9,500,000), $964.05; 2017: \u201cIncluded a large guest house; five-car\ngarage and great views of Camelback Mountain and its signature landmark, The\nPraying Monk. Good for the seller, at $964 per square foot for a\ntwo-plus-year-old home, but for the buyer it\u2019s high, unless it was sold\nturn-key to include items such as the contemporary furniture and those cars.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 112<sup>th<\/sup> Street, Scottsdale\n(Silverleaf) \u2013\u2013 <\/strong>$7,800,000 ($8,495,000); $782.03; 2015: \u201cRecently built\nin the Upper Canyon of Silverleaf, this is a home the buyers didn\u2019t have to do\nanything with: great views, guard gated and golf. A very good buy, and the\nsellers got their money out of the home, too.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North Ironwood Drive, Paradise Valley \u2013\u2013<\/strong>\n$7,400,000 ($7,995,000); $603.44; 2005: \u201cOriginally an REO, it was completely\nrebuilt in 2012, designed by Scottsdale architect Brent Kendall, who reimagined\nit to perfection. Quiet street, views to both directions, and the adjacent\nmountain blocks that western sun. Seller had invested several million into the\nhome before selling it. A great buy and sale.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North 66th Street Paradise Valley \u2013\u2013 <\/strong>$7,350,000\n($7,350,000); $470.58; 2010: \u201cGreat home and good buy with nice-size guest\nhouse. Was for sale for some time; the home was becoming dated, unsold. A\nfantastic buy at one-half off of its original list price in 2011.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Feathersong Lane, Scottsdale (Silverleaf) \u2013\u2013 <\/strong>$7,315,000, ($7,650,000); $751.72; 2013: \u201cAgain, in the Upper Canyon just at the base of the McDowells. A beautifully designed home by Valley architect Gary Wyant, with every room centered on unparalleled Valley and mountain views. Move-in-ready home to tag as a very good buy. And, the seller got their money out of it, getting very close to asking in a premier area.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North Mummy Mountain Road, Paradise Valley \u2013\u2013\n<\/strong>$7,300,000, ($25,000,000); $287.22; 2006: \u201cThis is a\nbeautifully designed home with a large guest house by Erik Peterson, right at\nthe base of the Mummy Mountain surrounded by other five-plus-acre parcels in\ntown on five acres.<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"359\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-80x38.jpg\"  alt=\"\"  class=\"wp-image-8044 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-750x359.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-750x359.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-300x143.jpg 300w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-1024x489.jpg 1024w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-768x367.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-380x182.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-800x382.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-1160x554.jpg 1160w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-80x38.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-620x296.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6-850x406.jpg 850w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135740\/frank6.jpg 1500w\" ><\/figure>\n\n\n\n<p>\u201cWith close to one-half of a decade on the market, if left vacant, the carrying cost alone must have been a significant loss. Best practice is to consult, remodel, paint, stage and clean up the home inside and out for it to appeal to a wider range of buyers in order to avoid selling your investment at one-third of its original asking price.\u201d\u00a0 <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Wingspan Way, Scottsdale (Silverleaf) \u2013\u2013<\/strong>\n$7,300,000 ($7,499.500); $672.01; 2009: \u201cAgain, the highly desirable Upper\nCanyon; heavy Tuscan, a style very much in favor when it was built. The seller\npatiently waited in order to do well. Should this style and floor plan not\nbecome popular again, the sell period can become lengthy. The home was listed\nunder various addresses.\u201d&nbsp; <\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>East Canyon Cross Way, Scottsdale\n(Silverleaf) \u2013\u2013<\/strong> $7,100,000 ($7,395,000); $815.34; 2019: \u201cUpper Canyon,\nonce again a new home on almost four acres. Never-lived-in homes are selling at\npremium. New, never lived-in homes are trading 35\u201340 percent more than\nlived-in\/re-sell homes, so a very good buy. Seller did well too, getting close to\nasking.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>North Wilkinson Road, Paradise Valley \u2013\u2013<\/strong> $7,000,000 ($8,950,000); $466.48; 2015: \u201cAlmost three years on the market, with poor choice of design and finishings, unfashionable dark plank floorings, wide niches, elevation changes, and the contrasting casings around windows stop the eye from enjoying inside\/outside sight lines. <\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"313\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-80x33.jpg\"  alt=\"\"  class=\"wp-image-8045 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-750x313.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-750x313.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-300x125.jpg 300w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-1024x427.jpg 1024w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-768x321.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-380x159.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-800x334.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-1160x484.jpg 1160w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-80x33.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-620x259.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7-850x355.jpg 850w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135746\/frank7.jpg 1500w\" ><\/figure>\n\n\n\n<p>\u201cBuyer did well but should consider updating or pricing it accordingly. It\u2019s so important to pay attention to trends and competing homes for sale. Always keep in mind your exit strategy as a buyer to avoid huge expenses when you decide to move.\u201d<\/p>\n\n\n\n<p><strong><em>Active listing perspective:<\/em><\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Wingspan, Scottsdale (Silverleaf) \u2013\u2013<\/strong>\n$32,000,000; $2,060; 2005: \u201cWhen asking $2,000 a foot, you need to justify how\nyou arrived at that offering price, as that\u2019s more than twice what the market\nis selling for. It\u2019s 17 acres, Bing Hu\ndesign, Silverleaf, huge\n7,500-square-foot guest house. But, how favorable are the finishings? Can one\nsplit the acreage for more lots?\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Heritage, Scottsdale&nbsp; (Silverleaf)<\/strong> \u2013\u2013\n$26,000,000; $1,811.85; 2018: \u201cOriginally built by Linthicum, this large home\nhas gone through <s>a <\/s>&nbsp;number of\nsignificant renovations, the most recent by Salcito Custom Homes here in\nScottsdale, with about $10 million invested. I\u2019d offer it for $22 million and\nbe willing to deliver it turnkey for the full asking price in order\nto expedite a sell.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Saguaro, Paradise Valley \u2013\u2013<\/strong>\n$21,000,000; $1,322.83; 2010: \u201cThis five-acre lot is worth as much as $7\nmillion, stunning views of Camelback and Mummy mountains. Built by the very\nbest, Hunt Construction. This estate also offers a long driveway approach and\nfrom the back-yard you see no rooftops. This offering price makes sense.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Red Ledge, Paradise Valley \u2013\u2013<\/strong> $20,000,000;\u00a0$1,111.11; unbuilt: \u201cIt\u2019s a 16.4-acre mountaintop estate lot with two building pads and a design by CP Drewett. But there\u2019s no home built, and I don\u2019t think they can deliver this one at offering price. It will require extensive excavation, you\u2019ll burn a clutch arriving up the hill to this homesite; plus, it will take years to build. This is a \u2018buyer beware.\u2019 Look into all facts and details.&#8221;<\/li><li><strong>Invergordon Road, Paradise Valley \u2013\u2013 <\/strong>$14,990,000; $579.86; 2013: \u201cFor me, this is <em>the<\/em> buy of the current estate-level listings. At 25,000 square feet with lots of curves on two acres, it\u2019s built to commercial standards with features like a 25-person elevator, shooting range and a beautiful staircase. They thought this one through. Would require $30 million to build. Flawless.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>59th Place, Paradise Valley \u2013\u2013 <\/strong>$13,988,648;\n$699.43; 2014: \u201cFrench-inspired Bella Paradiso is on the Mummy Mountain with a\nspectacular view of Camelback Mountain and interior design by noted Jamie\nHerzlinger. The lower level ballroom will take your breath away. Priced about\n$8 million less than a year ago. That\u2019s more realistic.\u201d<\/li><\/ul>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Invergordon, Paradise Valley \u2013\u2013 <\/strong>$13,950,000;\n$930; 2012: \u201cThis has been on the market forever. It\u2019s very dated, very heavy.\nThat used to be the style. It isn\u2019t anymore.\u201d<\/li><\/ul>\n\n\n\n<p>\u201cTrust a\nluxury-property specialist.&nbsp; A seasoned\nmarket specialist can service your real estate needs at the highest level,\u201d\nAazami says. <\/p>\n\n\n\n<p>\u201cAn\nexperienced professional will help both the luxury seller and buyer obtain\nmore. At this level, savvy buyers are going to want to examine a property in\ndepth, and sellers should know what the market will bear and how to present\ntheir properties at the best posture.\u201d <\/p>\n\n\n\n<p>Aazami\nexplains that Russ Lyon Sotheby\u2019s International Realty has\n12 local offices, with nearly 1,000 associates and more than 70 years of\nexperience in Arizona. \u201cOur seasoned Private Client Group professionals can sit\ndown with you and make informed recommendations. We know the local and global\nmarkets, down to the streets, we know the architects, the builders; we know\nquality and less than quality. It\u2019s like a diamond. You can look at a home from\nmany perspectives, but are you seeing just the shimmer and not the\nimperfections?\u201d <\/p>\n\n\n\n<p>What\u2019s\nmore, your local Private Client Group advisor networks with professionals in 69\ncountries 950 offices and territories. \u201cSo, if you have multiple holdings in\nmany areas, we can supervise your portfolio through the Sotheby\u2019s PCG worldwide\nnetwork. We\u2019re a one-stop shop delivery. Our partners report directly to us.<\/p>\n\n\n\n<p>\u201cYou\u2019ve\nworked hard for your money, your home, your security. And, you don\u2019t want your\nhome for sale for months and months or even years and years. You want to get on\nwith the next chapter in life. After all, all we have in life is time. Trust\nthat to a specialist.\u201d <\/p>\n\n\n\n<p>For more information, visit <a href=\"https:\/\/vimeo.com\/267030746\">WhyPrivateClientGroup.com<\/a> and <a href=\"https:\/\/privateclientgroupagents.com\/\">pcgagents.com<\/a>, email Frank Aazami, frank@pcgagents.com, or phone\/text, 480.266.0240.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img  loading=\"lazy\"  decoding=\"async\"  width=\"750\"  height=\"610\"  src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-80x65.jpg\"  alt=\"\"  class=\"wp-image-8046 pk-lqip pk-lazyload\"  data-pk-sizes=\"auto\"  data-ls-sizes=\"auto, (max-width: 750px) 100vw, 750px\"  data-pk-src=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-750x610.jpg\"  data-pk-srcset=\"https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-750x610.jpg 750w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-300x244.jpg 300w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-1024x832.jpg 1024w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-768x624.jpg 768w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-380x309.jpg 380w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-800x650.jpg 800w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-1160x943.jpg 1160w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-80x65.jpg 80w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-620x504.jpg 620w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9-850x691.jpg 850w, https:\/\/media.arizonafoothillsmagazine.com\/in-house\/wp-content\/uploads\/2020\/02\/25135753\/frank9.jpg 1208w\" ><\/figure>\n","protected":false},"excerpt":{"rendered":"By David M. Brown Good deal, bad deal? What makes a luxury home sale a solid transaction for&hellip;\n","protected":false},"author":16,"featured_media":8042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[1648,4490,4492,4491],"class_list":{"0":"post-8040","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-in-house-news","8":"tag-featured","9":"tag-frank-aazami","10":"tag-phoenix-housing-report","11":"tag-phoenix-luxury-home-report","12":"cs-entry","13":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Phoenix Metro High-End Luxury-Home Report<\/title>\n<meta name=\"description\" content=\"By David M. 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