Heather Tawes Nelson ABR, CLHMS - Scottsdale, AZ

Here are the October 2009 results for the Scottsdale AZ real estate market. This analysis looks at the sales performance of single-family homes in Scottsdale, Arizona.

Things were more or less the same as they were in September, but a few items were slightly off. The number of active homes for sale continues to rise. Pending sales were down slightly and the number of home sales stayed the same.

October 2009 Findings
Active Homes for Sale: The number of homes on the market increased for the second month in a row, to 2,917, up another 3.1%. This figure had been as high as 4,007 in February of 2009. The 12 month average for this figure is 3,403, so we are still tracking well below that.
Pending Home Sales: Pending sales continue to stay in the above 500 range. At the end of October, there were 514 pending home sales, down slightly from September's 523. The 12 month average for pending sales is 424.
Homes Sold: Home sales were even with September at 351. We saw a 12 month high of 429 in June of this year. The 12 month average for home sales is 294.
Sales Price to List Price: 93.7% - This is the just a tenth of a percentage point off of September. This is the second highest we have seen this figure in well over a year.

October was a decent month for Scottsdale AZ real estate. Sales stayed at the same pace and pending sales were down slightly. One thing to keep an eye on is the number of active homes for sale. In order to see the market improve, we want to see this number decrease, not increase, which is has been for the last two months.

Originally posted on Scottsdale Real Estate News & Lifestyle.

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 11/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2009 Heather Tawes Nelson

Posh restaurant brings a unique concept to Optima Camelview in Scottsdale, Arizona. What sets Posh apart from other fine dining restaurants in Scottsdale is that it focuses on "improvisational cuisine."

What constitutes "improvisational cuisine"? At the beginning of the meal, you are handed a menu sheet with a long list of ingredients. You then cross off any ingredients from the list that you do not like. For instance, if you are not a fan of shellfish, simply cross it off and the chef will make sure not to serve you any shellfish. You then select the number of courses you want from four (includes a dessert or cheese course) or more. You can also opt to do wine pairings with each of the courses. The list of menu items changes all of the time so every meal will be a new creation.

Once you have made your selections, the improvisational part begins. You hand off your sheets and wait for the courses to start coming. Even if you and your dinner partners have similar food likes and dislikes, you will not see the same dish being served to multiple people. Each course is unique, and based on what we experienced, delicious. On the night we were there, there were several different types of fish to choose from, beef options, pork options, shrimp, crab, duck, foie gras and more. Typically, diners just go with the flow and wait to see what the kitchen comes up with. However, I could not resist requesting the cheese plate when I saw someone else's go by. They were happy to accommodate me and it was great. We opted to do the wine pairings and the server did a nice job of walking us through each one before starting on the next course.

For dining, you have the option of sitting at a table or at the counter overlooking the open kitchen. We were intrigued by the process, so we selected the counter to see how it all worked. I have to say, the person expediting and coordinating all of the menus was impressive as he had dozens of tickets in front of him at any time. Plus, the kitchen team was amazing to watch as they kept things moving.

If you are looking for something lighter, Posh has a bar menu where you can sit and snack while enjoying a drink.

Posh also has "room service" offerings for Optima Camelview residents. Simply call down to Posh and they will make up some of the offerings from their "room service" menu.

Overall, we had a wonderful meal and I look forward to returning.

More Information:
POSH
Optima Camelview
7167 E. Rancho Vista Dr. Unit 111
Scottsdale, AZ 85251
Phone: 480.663.7674
Website: www.poshscottsdale.com
Open Tuesday through Saturday starting at 5PM
Free parking in underground parking garage accessed via Highland

Originally posted on Scottsdale Real Estate News & Lifestyle

Here is the real estate market performance for the luxury condo market in Scottsdale, Phoenix and Tempe. This analysis looks at condos for sale in the Greater Phoenix area with list prices in excess of $1 million.

At the end of September, there were 65 luxury condos on the market. The bulk of these were in Scottsdale, with 30, and Phoenix, with 28. The remaining 7 units were located in Tempe. The number of units for sale was up over last month, after seeing many months of decline.

There was one sale in September for $1,889,000, which is the highest amount a luxury condo has sold for year to date. It was a penthouse unit at The Landmark in the Kierland section of Scottsdale and it has 3 bedrooms, 3.5 bathrooms and 3,604 square feet.

I also looked at the 3rd quarter performance and year-to-date performance through Q3 for this luxury condo market in Scottsdale, Phoenix and Tempe and the results are below.

Three of the six condos that sold were in Esplanade Place, one was in the Scottsdale Waterfront Residences, one was in The Residences at 2211 Camelback and the final sale referenced above was in The Landmark.

To learn more about the luxury condo market in Scottsdale or Greater Phoenix, please feel free to contact me. Or, please visit my website for more information on Scottsdale AZ real estate and the surrounding areas.

Originally posted on Scottsdale Real Estate News & Lifestyle.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2009 and can change at any time. The analysis looks at single-family resale condos in Scottsdale, Tempe and Phoenix over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2009 Heather Tawes Nelson

Here are the performance numbers for the Scottsdale AZ luxury home market for September 2009. This analysis looks at single-family resale homes in Scottsdale with list prices of $1,000,000 or more.

September saw mixed results for the various price points. Inventory has been going up slightly for some of the price points, which is not something we want to see. However, some of the price segments had great months in terms of pending sales and sales.

-September 2009 -
Homes Priced Between $1,000,000 - $1,499,999
- Actives: There were 384 active homes for sale at the end of September. This is up 4.9% over August, ending a month over month decline that started in February of this year. 12 Month Average: 478
- Pendings: Pending sales dropped significantly over August's 40 to 23. This represents a 42.5% drop. 12 Month Average: 26 per month.
- Sold: On a more positive note, there were 29 home sales in September, up 38.1% over August. 12 Month Average: 17 sales per month.
- Sales Price to Listed Price: 93.9% - This is the highest this ratio has been over the last 12 months.

Homes Priced Between $1,500,000 - $1,999,999
- Actives: At the end of September, there were 212 homes for sale, down from August's 241. 12 Month Average: 275
- Pendings: Twenty three homes were pending at the end of the month. This is up 35.3% over August's 17. 12 Month Average: 12 per month.
- Sold: September was a good month for home sales in this price point, with 10 sales. 12 Month Average: 8 sales per month.
- Sales Price to Listed Price: 86.9% - This is a pretty typical number for this ratio.

Homes Priced Between $2,000,000 - $2,999,999
- Actives: There were 227 homes for sale in this price point at the end of September, up from 222 at the end of August. This is the first time this number has increased since February of this year. 12 Month Average: 312
- Pendings: Pending sales were right on par with the average of 7. 12 Month Average: 7 per month.
- Sold: Only four homes sold in this price point in September, which is behind the 12 month average of 5. 12 Month Average: 5 per month.
- Sales Price to Listed Price: 87.3% - This is pretty typical for this price range.

Homes Priced $3,000,000+
- Actives: The number of homes for sale over $3,000,000 went up in September to 155. This is the first time this number has increased since November of 2008. 12 Month Average: 227
- Pendings: There were three homes were pending at the end of the month, far off of the 12 month average of 5. 12 Month Average: 5 per month.
- Sold: There were no sales for over $3,000,000 in the month of September. This is the first time that has happened since I started tracking this information in September of 2007. 12 Month Average: 3 per month.
- Sales Price to Listed Price: Not applicable.

As you can see, the results vary quite a bit between the price points. The $1.5M -$2M price point performed the best, while the others had mixed results. The poor performers in September were the $1M-$1.5M price range and the $3M+ price range.

For the detailed data behind this report, please visit my Scottsdale luxury real estate market reports page and click on the "Scottsdale Market Trends" report. For other information on the Scottsdale AZ real estate market and the surrounding areas, please visit my Real Estate Market Reports page.

Originally posted on Scottsdale Real Estate News & Lifestyle

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale over the preceding 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.

Here are the figures for the Scottsdale AZ real estate market for September 2009. This analysis looks at the sales performance of single-family homes in Scottsdale, Arizona.

The results for September were encouraging for pending sales and home sales, as both were up over August. However, the number of active homes on the market increased by 2.8% over the previous month.

September 2009 Findings
Active Homes for Sale: This number increased in September to 2,829, up 2.8% over August's 2,752. This figure had been steadily decreasing from a high of 4,007 in February of 2009. The 12 month average for this figure is 3,491.
Pending Home Sales: Pending sales continued to stay strong with 523 pending sales at the end of September. The average over the last twelve months is 402.
Homes Sold: Home sales were up over August to 351 sales, a 6.4% increase. This was good to see as we saw a dip in sales in August. The 12 month average for sales is 283.
Sales Price to List Price: 93.8% - This is the highest this figure has been since September of 2008.

September was a decent month for Scottsdale AZ real estate posting gains in home sales, pending sales and the list price to sales price ratio. However, we will need to keep an eye on the active number of homes for sale. In order for the market to recover, a lot of this inventory needs to be absorbed and a jump in inventory will only slow down the recovery process.

Originally posted on Scottsdale Real Estate News & Lifestyle.

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 10/1/2009 and can change at any time. The analysis looks at single-family resale homes in Scottsdale AZ over the last 12 months. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2009 Heather Tawes Nelson