Top 5 reasons to buy Phoenix AZ Real Estate
December 10, 2008
I call Arizona’s last 10 years the real estate ‘gold rush’ …. Well, at least the years of Phoenix AZ real estate growth that came to an abrubt halt at the end of 2005; where for the first time home buyers thought of getting rich and making money on their own and a place to live was secondary.
yes, a lot of money was made; and lost. However, there is a new opportunity to make a lot of money again. Over time, of course as real estate prices have retreated to 4 year lows and interest rates are near 5%.
I just want to remind ever Phoenix AZ real estate buyer to remember the
Top 5 reasons to buy a home. (the order is different for everyone)
- a Home is place to live
- enjoy tax benefits
- a fixed mortgage payment in time (rents typically rise with inflation)
- each month you save money by paying down your mortgage loan
- build a nest egg over time
Today’s home buyer is seeing opportunities that they may never have expected.
I encourage you to buy a home only if you can stay in your home for at least 5 years, put down at least 10% (20% is better) and get 30-year fixed mortgage.
If you can handle the payment comfortably then history has proven that you will build a nest egg while enjoying all the other benefits home ownership has to offer.
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Copyright © 2008 By James Wexler, All Rights Reserved. *Top 5 reasons to buy a home*
Contact James Wexler (480) 221-8080 for all your Phoenix AZ Real Estate and Scottsdale AZ Real Estate needs.
Camelot Homes - Buy low, Save High event in Scottsdale AZ
November 22, 2008
Scottsdale AZ real estate developer and luxury home builder, Camelot Homes is having their Buy Low Save High new home sales event where the builder offers you the opportunity to ‘buy the masterpiece’ for the ‘lithograph price’.
Camelot Homes says that you can save up to $300,000 off the retail price if you buy and close by the end of the year in any of their communities throughout the valley in North Scottsdale AZ, Chandler AZ, Peoria AZ and Goodyear AZ.
North Scottsdale AZ
- The Courtyards at Desert Park
- The Villas at Desert Camp
- The Verandahs in Silverleaf
Southeast Valley
- Watermark at Ocotillo in Chandler, AZ
- Windward at Ocotillo in Chandler, AZ
Northwest Valley
Sonoran Mountain Ranch in Peoria, AZ
- Canyons Edge
- The Ledges at
West Valley
- Cortile at Palm Valley in Goodyear AZ
Camelot Homes is offering beautiful homes at Cortile in Palm Valley, Goodyear AZ that are a selling at prices that we have not seen for years and likely will not see again in our lifetime.
The field models are being sold at what seem to be less then builder cost which is almost unheard of. For example, the Cortile Serenity series, in Goodyear, AZ was originally listed at more than $735,000. The save high, buy low sales event prices is $445,500 for this 3,852 sq/foot luxury home is . A saving so f more than $290,000.
Camelot Homes says,
“Take advantage of these one of a kind views with a HUGE backyard!!! Featuring TWO separate courtyards - this GORGEOUS home is perfect for the family that loves to entertain!!! The Gourmet Kitchen is a CHEF’S DREAM with upgraded granite countertops, Alder Wood cabinets and upgraded appliances!!! Vaulted ceilings in the family room and master bedroom add to the UNIQUENESS of this wonderful home! Price of home includes a $15,000 lender incentive. “
encourage you to speak with your real estate experts and industry professionals for detailed information before any buying decision.
There are 5 Model homes to visit. Mon-Wed 10am-5pm. Saturday 10-5. Sun 12-5. Closed Thursday/Friday.
Ask for Kellen Britt at the sales office and tell her James Wexler sent you.
I encourage you to visit the field models and sales office of any of the great new home communities from Toll Brothers in greater Phoenix AZ and Scottsdale AZ. The have great homes in builder inventory at prices we have not seen in many many years.
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Copyright © James Wexler * *
If you are considering buying a from a new builder in Scottsdale AZ or Phoenix AZ, hire an agent who knows the new home construction market in Scottsdale and Phoenix AZ and has the experience to get the job done.
Call 480.221.8080 to find out more about Phoenix AZ real estate and life in Scottsdale AZ
Get your offer accepted - use an “Approved” LSR provider
October 23, 2008
Phoenix real estate is selling. Let me repeat Scottsdale real estate is selling. O.k. , now let me qualify. Short sales in Phoenix, foreclosures and foreclosed homes (bank owned real estate (REO)) are selling.
However, there are list of challenges and potential pitfalls that buyers (and sellers) face. I have been writing an on-going series called Short sale nightmares where I have shared stories about the challenges buyers face. 
Several days ago, I wrote a story describing how a buyer’s offer was rejected for a significantly lower price cash offer. I thought it important that buyers know banks want deals that will close to reduce their inventory. The are less concerned with the amount of the offer as long as its reasonable. As a result, most banks are looking at cash-offers versus conventional financing.
I have started to hear stories that there is a new title and terminology to add to the real estate and mortgage vernacular that should greatly help you get your offer with financing accepted on Phoenix AZ real estate and lender owned homes.
Phoenix AZ mortgage brokers and Scottsdale loan officers are attempting to become “required LSR provider” for major international banking institution. Similar to “preferred lenders”, “required LSR providers” or “approved” LSR providers are asked to provide buyer financial qualification before a lender will consider buyer offers.
This is a much needed result of mortgage lenders providing LSRs of buyers who are truly not ready to buy. In fact, most LSR’s are not worth the paper on which they are written.
Banks who are managing REO homes would require a complete application and an automated underwriting approval including “outstanding items” needed to validate the approval. My clients have 48 hours to provide all supporting documentation. That way when they are negotiating we can call the listing agent and/or bank to let them know we are ready to submit as soon as we have title, appraisal and the executed contract.
If you are considering buying a Phoenix AZ short sale property or Scottsdale lender owned home, ask the listing agent to contact the bank and inquire whether there is an approved LSR provider that you can use. It will give you a much higher likelihood that your offer will be considered and accepted.
Make sure you work with a Phoenix Realtor or Scottsdale Real Estate agent who is experienced with short sales and bank owned transactions.
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Copyright © James Wexler *Get your offer accepted - use an “Approved” LSR provider*
If you are listing your home as a short sale in Phoenix Arizona or Scottsdale Arizona make sure you hire an agent who knows how to do short sales and has the experience to get the job done.
Call 480.221.8080 to find out more about Phoenix AZ Short Sales and Scottsdale AZ short Sales
4 Reasons to Buy a New Construction Home
October 15, 2008
Phoenix AZ (Maricopa County) is a geographically large area that offers home buyers more choices in which to live then ever before. One of the first choices that Phoenix AZ real estate buyers needs to consider is whether or not they want to by a resale home or new home construction direct from a builder.
There are many pros and some cons to both choices. However, here is a list of 4 Reasons to Buy a new construction home direct from a builder.
1) Pricing/Value - most builders have a lot more room to negotiate than resale owners. The sales process is much more of a business decision versus an emot
ional one for most homeowners. Also, builder’s incentives make the price quite compelling. Look for these new home builder’s incentives such as
- Inventory ’spec’s (Completed homes) that are at a steep discount in builder inventory.
- Closing Costs - often paid through use of Builder’s preferred lender
- Upgrades at reduced cost on appliances, flooring, counters and cabinets, even pools and patios from Standard features
- Lot Premium Reductions - get a premium lot for less
2) Modern Energy Efficient Design - makes a home eco-friendly and “Green” ?
- New homes with recycled woods and recycled construction waste
- Non-toxic materials like paints and finishes
- Energy star HVAC systems
- Window, screen and awnings to produce shading
- Dual Glaze e-efficient windows
3) Design your Dream Home - both offers an array of modern floor plans that may include large kitchens with huge family great room, more bathrooms, with steam showers, and jetted tubs, walk-in closets, his and her sinks, Guest Entrance/Casitas, pools, spas, putting greens, fireplaces, home offices, built-in plasma TVs & wonderful use of windows for natural lighting and often spectacular views. To make matters even more fun you can choose paint color, stonework, flooring, cabinets, landscaping and what seems to be an endless amounts of choices in amenities and design.
4) Long-Term Equity Appreciation- Think New Car Smell! Lets face it, who doesn’t like New vs. Used is as American as apple pie. Think, new car smell. And when it comes to resale, one of the first items looked at when comparing location, size and pricing, is Age of home and modern fixtures and finishings. If you compare equal homes, with equal amenities, the new home is more marketable, more ’sell-able’ and often demand more money
I encourage you to visit the field models and sales office of any of the many great new home builders in greater Phoenix AZ. The have great homes in builder inventory at prices we have not seen in many many years.
If you are considering buying a new home, please call me today at 480.221.8080 to arrange a visit to some of the best new home builders in your area.
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Copyright © James Wexler *4 Reasons to Buy a New Construction Home*
Call 480.221.8080 to find out more about Phoenix AZ real estate and life in Scottsdale AZ
Real Estate Deals in DC Ranch - Scottsdale AZ
October 14, 2008
There are no shortage of wonderful golf communities to choose from when deciding to buy Scottsdale Real estate. Troon, Troon North, Desert Mountain, Grayhawk, Estancia, Desert Highlands and Ancala Golf club and DC Ranch an Silverleaf are all luxury gated Scottsdale golf communities with championship golf courses. 
DC Ranch in North Scottsdale (85255 zip code) has just celebrated its 10th Anniversary and is one of the most prestigious golf communities with the a variety of home choices from under $400K to over $4MM.
DC Ranch is separated in 4 unique villages.
Some of the respected new home builders in DC Ranch North Scottsdale AZ are:
Engle Homes - The Villas at DC Ranch are townhomes in a gated community ranging from 1,800 to 2,318 sq/feet in a gated community just steps away from dining, swimming, fitness, tennis and the Desert Camp Community Center.
Camelot Homes - Courtyards at Desert Park by Market Street Homes, LLC has condo/townhomes for sale starting in the mid-$400K. DC Courtyards at Desert Park community is conveniently located next to both the brand new Village Health Club and the new DC Ranch community recreation center.
Maracay Homes - Desert Haciendas at DC Ranch is a premier community high in the Sonoran Desert of North Scottsdale. Single family custom homes start in the $900K. There are no more new homes in Desert Haciendas at DC Ranch. However, there are 2 inventory homes at great prices.
Rosewood Homes - A small, gated enclave of 34 custom quality homes in the heart of Scottsdale DC Ranch within walking distance to numerous DC Ranch amenities including the Desert Camp Recreation Center, Copper Ridge Elementary School, Copper Ridge Middle School, Market Street retail district, and the private membership Village Club and DC Ranch Country Club. One and two story residences designed for indoor/outdoor living range in size from approximately 2,000 to 3,980.
I encourage you to visit DC Ranch North Scottsdale AZ and the models and sales office of any of these great new home builders. The have great homes in builder inventory at prices we have not seen in many many years.
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Copyright © James Wexler *Real Estate Deals in DC Ranch - Scottsdale AZ*
If you are considering life in North Scottsdale or living in DC Ranch, hire an agent who knows North Scottsdale and has the experience to get the job done.
Call 480.221.8080 to find out more about Phoenix AZ real estate and life in Scottsdale
Phoenix AZ New Home Builder Nightmare
October 4, 2008
Phoenix AZ new home builders are the largest holders of real estate in Scottsdale, Fountain Hills, Peoria, Mesa, Tempe, Glendale and Peoria. Phoenix AZ new home builders are also one of the largest employers of real estate agents and facilitate a large amount of money to outside real estate agents, mortgage brokers, appraisers, contractors, suppliers and blue collar labor force.
The success of new home builders is critical to the recovery of the Phoenix AZ real estate market and the economy.
The NAHB (National Association of Home Builders) which is a great organization for the Phoenix AZ real estate market and the national economy as a whole has been a big supporter of legislation to assist a real estate market recovery.
Phoenix AZ new home builders are selling homes However, builders are starting to feel more pressure as a result of the credit crisis.
I want to share a story with you of a builder that is going through a nightmare.
A well established Phoenix AZ new home builder is in the middle to later stages of completion of a very expensive custom home. The buyer has been in contract for the home for about a year. The buyer has put down 10% deposit and additional monies for upgrades for a total non-refundable deposit of $150K.
In the recent week, the bank that was originating the loan for the buyers was closed and now out of business. The buyer needs to find another lender. However, due to the size of the ‘jumbo’ loan, down payment requirements, credit score minimums, underwriting guidelines make it impossible for the buyer to get a loan.
The outcome is a buyer who loses $150K. A builder who has likely put $500K minimum into a home that they cannot sell. A real estate market with one less transaction. Agents, mortgage lenders, etc… with less income for the economy. And worse, there is little the buyer or anyone can do.
Although, not perfect, I am pleased to see the Housing Rescue bill (FED Bailout) passed. It is not a silver bullet, nor will it work fast enough. However, it will ease credit to help businesses keep jobs and deliver products to a starving economy and it will better consumers borrow money to get through a rough patch.
If you are a buyer, there are many builders, who as a result of similar experiences, have inventory of completed homes, called ’specs’, that are finished and vacant. As a result, builders want to sell these ‘specs‘ to reduce overhead. Builders are also making available for sale ‘model homes‘, often called ‘field models‘ at deeply discounted bargain basement prices.
If you have the ability to get a loan, I strongly recommend you visit a sales office or model home in the many wonderful new home communities throughout Phoenix.
There are homes for sale that are less than builder cost. This may never happen again in our lifetime.
Call me for a private tour of new homes in Phoenix, Scottsdale and Peoria and to learn more about life in Scottsdale and living in luxury communities in Phoenix.
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Copyright © James Wexler * Phoenix AZ New Home Builder Nightmare *
Contact James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs
Buy a New Home in Phoenix cheaper than Builder Cost
September 14, 2008
Phoenix, Arizona experienced a real estate ‘gold rush’ from 2000-2005. There is no other way to put it.
The skyrocketing demand for homes in towns like Peoria, Scottsdale, Fountain Hills, etc… was only matched by the explosion of residential development by new home builders.
In fact, the Phoenix new home supply is one of the leading contributors to our sharp fall in h
ome prices. Many new home communities are overrun with foreclosed homes and most builders have had to slash prices drastically in order to unload inventory of new homes.
As a result, Phoenix home buyers (maybe for the first time and possibly the last) are actually able to purchase new homes direct from builders at or below the wholesale cost to build .
If you are a new home buyer in Phoenix, there are 3 products to look for:
Field Models - new home builder field models are the homes used as sales offices and models. New home field models are the most expensive to maintain for new home builders and are the most expensive to build as virtually every upgrade available is included.
Quick Move-in are homes that are under construction, though not yet completed. Many buyers are backing out of deals for a variety of reasons in the middle of construction. If you are willing to be flexible with upgrade options (as many have been previously chosen and installed) you can often get a great deal.
Inventory specs - Inventory specs are completed homes that are sitting vacant in the community. These will most often be your best opportunities as they are costing the builder money in monthly interest costs as well as dragging home prices down as supply is increased.
In an Arizona Republic article cited one Scottsdale new home builder, Camelot Homes, stating that Camelot Homes had sold 4 field models in 12 days for more than $3.1 million.
According to Mark Hancock, President of Camelot Homes for the first time in our 35 year company history we are offering homes at or below replacement cost”.
Visit the Camelot Homes sales centers in Scottsdale, DC Ranch, Peoria, Sonoran Mountain Ranch, Vistancia, Chandler and Cortile in Palm Valley and make sure you preview field models, inventory specs or quick-move-in homes.
This is a trend that we all hope will continue as the absorption of new home inventory is a critical part of the recipe for improving the Phoenix real estate and new home market.
There are many wonderful golf and resort lifestyle new home communities throughout greater Phoenix, Scottsdale, Peoria, Fountain Hills, Mesa, Gilbert, Tempe, etc… that are selling inventory specs and field models at rock-bottom prices.
If you are planning on buying a new construction home in Metro Phoenix do not wait much longer. Not only are 30-year mortgages and 15-year fixed interest rates at 50 year lows, many experts believe this may be ..
the may be the only time in our life that you can buy a brand new home for less than it cost the builder.
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Copyright © James Wexler * Buy a New Home in Phoenix cheaper than Builder Cost *
Contact James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs
Life in DC Ranch - Scottsdale AZ
August 30, 2008
DC Ranch in North Scottsdale is one of the most spectacular communities amongst the many wonderful places to live in all of Greater Phoenix.
DC Ranch is an intimate golf and exclusive community designed by DMB Partners as a premier resort, retirement and golf community nestled in the McDowell Mountains. 
This 3,700 acre master planned community is one of the most desirable place to live, not only in Scottsdale, but Arizona.
Tree-lined streets, family parks, walking paths through breathtaking desert landscape and community centers with pools, fitness club and recreational facilities add to the intimate and pleasant nature of the community which is broken up into 4 unique villages.
The reputation of DC Ranch and its prestigious sister golf community, Silverleaf is unparalleled in the greater Phoenix area and all of Arizona.
The DC Ranch resort lifestyle affords some of the most desired locations in Scottsdale with access to highways, great schools, boutique shopping and fine dining cuisine just steps from your front door on DC Ranch Market Street.
The restaurants and shopping are one of a kind, even for Scottsdale and have now extended to Canyon Village with restaurants Grazie Wine Bar and Cafe’ Ted.
Situated next to the DC Ranch Village Health Club, an 81,000 square foot state of the art health and fitness club that includes children’s day care, mountain biking rentals and large heated pools, is DC Ranch Crossing which today is celebrating their grand opening anchored by AJ’s fine foods.
If you have considered living in Scottsdale. I highly recommend you visit the on site sales office on Market Street or the model homes of the high-end builders throughout DC Ranch.
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Copyright © James Wexler *Life in DC Ranch*
Contact James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs
AZ Homeowners “Bill of Rights” - Proposition 201
August 26, 2008
If there is one positive that comes from the fallout of the Arizona real estate crisis is better regulation.
I am not talking about over-regulation or Government interference.
I am speaking of a revised set of laws and practices that will better protect the consumer and public from deceptive sales practices and require higher levels of seller culpability.
Buyer beware is not enough. 
In my opinion, current Arizona law does not give home buyers enough protection against deceitful sales people accountability for seller remedy of problems.
Currently on the November Ballot is the Arizona Homeowners Bill of Rights- Proposition 201 Particularly pointed at new home builders, the goal is to
“provide homeowners with improved rights to deal with construction defects and shady home sales practices.”
The Bill of Rights for Arizona Homeowners would
- providing a 10-year warranty on new homes.
- homeowners would have the right to demand either the builder correct construction defects or compensate the homeowner.
- Homeowners also could participate in the selection of contractors to perform the repair work
The Building Industry is the main opponent of the bill claim who argue this draft of the AZ Homeowners Bill of Rights is overreaching are not happy that the Bill
- Prohibits two parties from agreeing to resolve their disputes without going to court
- Forbids defendants from recovering attorney’s fees even if case was frivolous
- Allows PROSPECTIVE buyers to file suit so you don’t even have to own a home to file suit
- Assures that all disputes, either large or small, go to court raising costs for everyone
- Mandates that home builders pay homeowners for repairs with no requirement that they prove that the defect exists or is even the builders fault.
I am a big supporter of Buyer rights, consumer protection and seller responsibility. I agree with buyers, there needs to be better mechanisms in place to protect from bad business practice.
However, I am not a supporter of the Bill in this form.
The sustainability of the building business is critical to the Arizona economy. The Phoenix real estate market is hampered and needs better pricing.
Today is not the time to ask builders to increase the cost of home production which this bill does by definition.
I do agree with Don Lathem, treasurer of the committee
“One easy way for builders to stay out of court is to build high-quality homes and either correct construction defects or compensate homeowners. ”
However, increasing costs as preventative medicine at this time is not the answer.
What is needed are strict and more severe penalties when builders, sales people or any home seller acts deceptively, deceitfully or fraudulently.
If you are interested in supporting the Bill or wish to sign a petition against the AZ Homeowner Bill of Rights , …
you can contact the Arizona Secretary of State or Vote “Yes” or “No” on Proposition 201 in November.
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Copyright © 2008 James Wexler *AZ Homeowners “Bill of Rights” - Proposition 201 *
Contact James Wexler (480) 221-8080 for your Phoenix | Scottsdale area Real Estate needs
What is ‘Green’ Home Construction?
August 19, 2008
New Home Construction in the rapidly developed communities around Phoenix, such as Glendale, Peoria and Desert Ridge Marketplace in North Phoenix as slowed considerably as a result of little interest in new home construction.
Buyers are buying spec homes in builder inventory as they are priced at steep discount as new home builders are trying to dump inventory to reduce overhead of unoccupied homes.
However, there is a type of new construction home that is selling …
Green Homes that are built with an effort to make them as eco-friendly as possible.
Dave Macklin reported that 9 out of 10 Realtors said home buyers are looking for energy efficient features in homes for reducing their carbon footprint and cost savings.
Interestingly, Mr. Macklin cited a a survey of 250 home builders reported that buyers are willing to pay more for green-built homes.
Mindy Allen mentioned that Green Home building is on the rise in New England.
Pam Dent in Charlottesville mentioned the many features of Green home building.
And the eco-friendly movement to build Green Homes is not limited to the United States.
According to Andrew Perkins, British Columbia, Canada is proposing legislation that will require buildings to be carbon neutral as early as 2016 - and every new building to have no carbon footprint by 2020
What makes a home eco-friendly and “Green” ?
- Environmental friendly homes incorporate many of the following:
- Built from existing homes to conserve materials
- New homes with recycled woods and recycled construction waste
- Non-toxic materials like paints and finishes
- Energy star HVAC systems
- Window, screen and awnings to produce shading
- Dual Glaze e-efficient windows
- Development in urban cores to save gas of residents
Shea Homes offers a green Certified home in their Shea Homes Trilogy series at Trilogy at Vistancia in Peoria, AZ orEncanterra at Trilogy Country Club in Queen Creek, AZ.
If you buy certain Shea Homes far from a urban center you will receive a Hybrid Car.
- Solar Power
- LED lights
- Better ventilation
- Soy and wool-based insulation and flooring
- Dual Flush Toilets
- Programmable Thermostats
- Wood from sustainable forests
U.S. Green Building Council certifies home LEED (Leadership in Energy and Environment Design Gold Certification )
Make sure you look for the LEED Gold Certification if you are buying a new construction home.
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Copyright © 2008 By James Wexler, All Rights Reserved. *What is ‘Green’ Home Construction? *
Contact James Wexler (480) 221-8080 for all your Phoenix | Scottsdale area Real Estate needs
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