Heather Tawes Nelson

Things To Do In Scottsdale – June 2020

May 26, 2020 By Heather Tawes Nelson

– Scottsdale Things to Do in June –

Although things have changed over the last few months, many people are looking forward to resuming some of the activities they liked to do previously.

With that in mind, we are pulling together some ideas to get back outside and an inside option.

Arizona Boardwalk (formerly OdySea) – The Arizona Boardwalk is now open with safety protocols in place. Most of the attractions are open, but you will want to check and see if reservations are required for a specific attraction.
Phoenix Zoo – The Phoenix Zoo is reopening on June 15th. In the meantime, you can take a virtual tour or book a reservation to Cruise the Zoo from your car.
City of Scottsdale Parks and Recreation – You are welcome to visit playgrounds, play tennis or pickleball, play basketball and more in Scottsdale.
City of Scottsdale Pools – There are three pools now open for lap swimming. Recreational swimming, lessons and swim team will be introduced the week of June 22nd.
Take a Hike (on a cooler day!) – Whether you want to explore the McDowell Sonoran Preserve or tackle Pinnacle Peak or Camelback, the trails are waiting for you!
Visit a Lake or River – There are lots of bodies of water located around the Phoenix Metro area. Take a look at this list and see which one or ones most appeal to you.
Heard Museum – The Heard Museum will be open to members from June 2nd – 7th. It will open to the public on June 9th.
Drive-In Movies– Have a night out and take in a drive-in movie! There are several locations around the Valley offering them. However, this weekend is the final weekend of movies at the Scottsdale Princess and Salt River Fields and possibly a few other places.
Top Golf Scottsdale – Ready to work on your golf game while having fun? Top Golf Scottsdale has opened. And when you are ready for a full round, local courses are open.
Farmers Markets – While they are not fully open, you can still pre-order and pick up fresh produce and goods. The Old Town Scottsdale market will be open early mornings in June. The Carefree market will be open Friday mornings throughout the summer.

If you have any other ideas, we would love to hear about them in the comments!

Scottsdale AZ Luxury Home Market – April 2020

May 23, 2020 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for April 2020 –

April was the first full month impacted by COVID-19 and the numbers show that. However, on a call with a local economist yesterday, she likened it to a “pause” in the Scottsdale luxury market versus a crash. Many owners of luxury homes simply took them off of the market when the crisis hit.

However. we are already seeing improvements in sales activity in May.

This analysis takes a look at the sales activity of Scottsdale homes with price tags in excess of one million dollars.

Each month, we track the four items below:
Active – The number of homes on the market at the end of the month.
UCB (Under Contract Accepting Backup Offers) – The number of homes that were under contract, but still accepting backup offers at the end of the month.
Pending – The number of pending sales at the end of the month.
Sold – How many homes sold.

– APRIL 2020 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: The number of homes for sale fell about 6% between March and April.
– UCB Scottsdale Home Sales: UCB’s dropped almost 15% and ended the month at 29. You can see the impact when you compare that to February’s 62 UCBs.
– Pending Scottsdale Home Sales: Pending sales had a huge drop in April (45.7%).
– Scottsdale Homes Sold: Sales were also off, but they were not too far off of where we were in May 2019.
– Sales Price to Listed Price: 93.6% – On average buyers saw a discount off of list price of 6.4%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: We saw inventory in this price point fall 9% from March.
– UCB Scottsdale Home Sales: The number of UCB’s stayed level at ten. This is still below the 12 month average of fourteen.
– Pending Scottsdale Home Sales: Pending sales fell 31.8% between March and April.
– Scottsdale Homes Sold: Home sales also fell, ending the month at twenty-one, on par with the 12 month average.
– Sales Price to Listed Price: 97.2% – On average, buyers saw a discount off of list price of 2.8%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory actually increased in the $2 to $3 million dollar range.
– UCB Scottsdale Home Sales: UCB contracts were only down by one at the end of April.
– Pending Scottsdale Home Sales: One bright spot was that pendings rebounded back in April to end the month at twelve. This is below the typical pace though.
– Scottsdale Homes Sold: Home sales had their worst performance of the year by a significant amount. Sales were down 65%.
– Sales Price to Listed Price: 92.6% – On average, buyers saw a discount off of list price of 7.4%.

Scottsdale Homes Priced $3,000,000+

– Active Scottsdale Homes on the Market: Inventory was down at the end of April by 6.2% over March.
– UCB Scottsdale Home Sales: UCBs came in at four, which is low for the high season.
– Pending Scottsdale Home Sales: Pending sales were down 25% and closed out at six, which is also the 12 month average.
– Scottsdale Homes Sold: There were six home sales in the $3 million and up price range.
– Sales Price to Listed Price: 90.2% – On average, buyers saw a discount off of list price of 9.8%.

If you would like additional detail on home sales activity, please visit our Scottsdale Luxury Home Market Reports page and click on the downloadable “Scottsdale Market Trends” report.

Search Scottsdale Luxury Homes for Sale

Disclaimer: Information deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2020 and can change at any time. The analysis looks at single-family luxury 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. This blog represents the opinion of the author. No warranties expressed or implied.
Copyright ©2020 Heather Tawes Nelson | Joyce Tawes

Quick Video Update of the Scottsdale Real Estate Market – April 2020

May 19, 2020 By Heather Tawes Nelson

– April 2020 Scottsdale Housing Market Video –

April 2020 – Video

April 2020 was the first full month where COVID-19 was impacting the Scottsdale real estate market. Inventory was level, UCB and pendings were down slightly, but sales fell quite a bit.

Here is a one-minute video overview of the Scottsdale, Arizona real estate market that covers the month of April.

Scottsdale Active Listings

Although the video says inventory increased by 100%, inventory was actually level between March and April. There were 1,319 homes for sale at the end of the month, up one home over March.

Median List Price for Scottsdale Homes

The median list price is the exact midpoint of all home prices. One-half of the homes are priced higher and one-half are priced lower.

April’s median list price was just $989,000. This is up from April 2019’s $885,000, but down slightly from March’s $1 million.

Days on Market

Days on Market (or DOM) is a measurement that tells you the health of a market. A high number for DOM means the market is moving more slowly and a low number for the DOM means that home are selling more quickly.

April’s Days on Market came in at 82 days, a 14% decrease from April 2019’s 95 days. That is a positive sign.

Median Sales Price for Scottsdale Homes

Now we will look at the median sale price.

Scottsdale’s median sales price in April was $710,000. This is much higher than April 2019’s median sale price of $625,000. It is also up slightly over March 2020’s median sales price of $705,000.

Number of Homes Sold

This final section is home sales – year-over-year and month-over-month. This is an important section as it shows the effect of COVID-19 on home sales.

Sales were down significantly (36%) between April 2019 and April 2020. This is traditionally our high-season, so the drop in sales is unusual, but not unexpected.

Sales also saw a large decline month-over-month. Sales fell 31% between March and April, when we would normally see an uptick.

We hope that you found this video and commentary helpful as you gather more information to make smart informed real estate decisions.

For more Scottsdale real estate information or if you have any questions about the local area, feel free to contact Joyce at (480) 209-7843 or Joyce@LiveBetterinScottsdale.com.

Click to watch other videos on our Live Better in Scottsdale YouTube Channel.

Interested in other stats for our market? Visit our Real Estate Market Update page.

Disclaimer: Data deemed to be accurate, but is not guaranteed.

Phoenix and Scottsdale AZ Luxury Condo Sales – April 2020

May 14, 2020 By Heather Tawes Nelson

– Luxury Condo Sales in Scottsdale and Phoenix – April 2020 –

This report covers the first full month of sales activity since the appearance of COVID-19 in Arizona and you can definitely see its impact on the luxury condo market in Scottsdale and Phoenix.

We are defining the luxury condo market as those condos that are on the market for $1 million or more.


Luxury Condo Market - April 2020
Phoenix and Scottsdale AZ
	All Luxury Condos	Scottsdale Luxury Condos	Phoenix Luxury Condos
Units on the Market
- Number of Units for Sale	76	58	18
- Average Asking Price	$1,689,842	$1,671,051	$1,761,467
- Average Asking Price Per Sq. Ft.	$628.11	$650.29	$544.21
- Average Days on Market*- Active	154	144	218

Pending Sales
- Number of Units Pending	4	4	N/A
- Average Pending Price	$1,896,250	$1,896,250	N/A
- Average Pending Price Per Sq. Ft.	$824.09	$824.09	N/A

Luxury Condo Sales
- Number of Units Sold	2	1	1
- Average Sales Price	$1,237,500	$1,475,000	$1,000,000
- Sales Price to List Price	95.8%	98.3%	92.2%
- Average Sold Sq. Feet	2,484	2,481	2,486
- Average Sales Price per Sq. Ft.	$498.39	$594.52	$402.25
- Average Days on Market* - Sold	716	30	1,432
- Highest Sale Price	$1,475,000	$1,475,000	$1,000,000
- Lowest Sale Price	$1,000,000	$1,475,000	$1,000,000
- Percentage of Total Sales	100%	50%	50%

ACTIVE LISTINGS AT THE END OF APRIL

Seventy-six luxury condos were for sale at the end of April, up from sixty-seven at the end of March. Fifty-eight of the condos were located in Scottsdale and the balance of eighteen were located in Phoenix.

The highest-priced luxury condo on the market is the highest-priced condo the market has seen. It is an expansive penthouse at the Scottsdale Waterfront Residences. It has forever views, 4,493 square feet, four bedrooms, four and one-half bathrooms and a 640 square foot guest suite located on the ground floor. It was on the market for $5 million.
The lowest-priced luxury condo on the market was located in Optima Camelview. It has two bedrooms, two bathrooms and 1,955 square feet. It was on the market for $1,000,000.

UCB* LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

April ended without any condos in UCB status. At the end of March, there was a single UCB.

*UCB status means a condo has an accepted contract, but that the seller has requested that they accept backup offers. Most times you will see this status when the contract is in the inspection/due diligence period.

PENDING LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were four condos in pending status at the end of the month and all of them were located in Scottsdale in the Optima Kierland community.

This is down a little bit from the six pending sales we had at the end of March.

Scottsdale Pending Luxury Condos

All of these condos have been in pending status for months due to Optima Kierland being under development.

All of the pending sales were located in the new Optima Kierland community.
- Two bedrooms and two and one-half bathrooms with 1,956 square feet. It was listed for $1,750,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was on the market for $1,816,000.
- Three bedrooms and bathrooms with 2,018 square feet. It was on the market for $1,939,000.
- Three bedrooms and bathrooms with 2,704 square feet. It was listed for $2,080,000.

LUXURY CONDO SALES IN SCOTTSDALE AND PHOENIX

There were two sales in April – One in Scottsdale and one in Phoenix. This is down from the seven sales were saw in March.

Optima Camelview in Scottsdale- Three bedroom, two and one-half bathroom unit with 2,481 square feet. It had been listed for $1,500,000 and sold for $1,475,000.
Portland on the Park in Phoenix – 9th floor unit with three bedrooms, three bathrooms and 2,486 square feet. It was listed for $1,084,500 and sold for $1,000,000.

Learn More About Phoenix and Scottsdale Luxury Condos

Search Phoenix and Scottsdale Luxury Condos for Sale

Disclaimer: Days on market figures are cumulative days on market. Information herein deemed reliable but not guaranteed. Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2020 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the past 12 months. Information deemed reliable, but not guaranteed. There may be new condo inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright ©2020 Heather Tawes Nelson | Joyce Tawes

Scottsdale AZ Single Family Home Sales – April 2020

May 9, 2020 By Heather Tawes Nelson

– April 2020 Scottsdale Homes for Sale and Home Sales –

I hope this post finds you safe and well.

Here is a look at last month’s real estate market in Scottsdale. This is the first full month of sales activity with the coronavirus in play. As expected, sales and new contracts fell off.

SCOTTSDALE HOME SALES ACTIVITY – APRIL 2020

We track these four sales metrics on a monthly basis.

– Single-family homes for sale – Orange Line – How many homes were on the market at the end of the month.*
– Under contract, but accepting backup offers (UCB) – Gray Line – The number of homes in UCB status at the end of the month.*
– Pending home sales – Yellow Line – The number of pending sales at the end of the month.*
– Home Sales – Blue Line – How many homes sold that month.

APRIL 2020 RESULTS

Scottsdale Homes for Sale: Inventory remained basically level with March.
UCB (Under contract, accepting backup offers): The number of UCB’s fell, but not as dramatically as we saw between February and March. We are still trending behind where we typically are at this time of year.
Pending Homes Sales in Scottsdale: Pending sales also took a hit in April. They were down 14.1%.
Scottsdale Home Sales: Home sales dropped to the lowest level we have seen in the last year. There were 335 sales when we would expect to see sales in the 500+ range.

Here are two more sales metrics we use to monitor the market.

The first one is the Percent Change Month Over Month. Here sales activity is compared to the previous month. As you can see, sales fell 31.2% between March and April.

The second metric is Sales Price to List Price. It compares what homes were listed for and what they sold for. In April, homes sold for 96.2% of asking price and buyers saw an average discount off of asking of 3.8%.

*Figures for active homes for sale, UCB sales and pending sales are based on the numbers at the end of the month.

Search Scottsdale AZ Homes for Sale

Here is a sampling of some of the homes on the market, or click the link above to see all of the homes for sale.

Curious about your buying power? Click on the link to learn more.

Disclaimer: Data and information were pulled from the Arizona Regional MLS (ARMLS) as of 5/1/2020. Information deemed reliable, but not guaranteed. There may be new home inventory in these figures if the developer is using the MLS to market its homes. This post represents the opinion of the author. No warranties express or implied.
Copyright © 2020 Heather Tawes Nelson | Joyce Tawes

20 Ways to Save Money and Stretch Your Household Budget

May 2, 2020 By Heather Tawes Nelson

These days, it seems like everyone’s looking for ways to cut costs and stretch their income further. Fortunately, there are some simple steps you can take to reduce your household expenses without making radical changes to your standard of living. When combined, these small adjustments can add up to significant savings each month.

Here are 20 things you can start doing today to lower your bills, secure better deals, and begin working toward your financial goals.

Refinance Your Mortgage – For prime borrowers, mortgage rates are at or near historic lows. Depending on your current mortgage rate and the terms you choose, refinancing could save you a sizable amount on your monthly payments. There are fees and closing costs associated with refinancing, so you’ll need to talk to your lender to find out if refinancing is a good option for you.

Evaluate Your Insurance Policies – If it’s been a while since you priced home or auto insurance, it may be worthwhile to do some comparison shopping. Get quotes from at least three insurers or independent agents. Try bundling your policies to see if there’s a discount. And inquire about raising your deductible, which should lower your premium.¹

Bundle Cable, Phone, and Internet – You can also save money by bundling your cable, phone, and internet services together. Shop around to see who is willing to give you the best deal. If switching is too much of a hassle, ask your current provider to match or beat their competitor’s offer.

Or, Cut the Cord on Cable – In many cases, you can save even more if you cancel your cable subscription altogether. An antenna should give you access to the major stations, and many of your favorite shows are probably available on-demand through a less expensive streaming service subscription.

Revisit Your Wireless Plan – You can often save by switching from a big brand to an independent, low-cost carrier. If that’s not feasible, ask your current provider for a better deal or consider downgrading to a cheaper plan.

Adjust Your Thermostat – Turning your thermostat up or down a few degrees can have a noticeable impact on your monthly heating and cooling costs. To maximize efficiency, change your filters regularly, and make sure your windows and doors are well insulated.

Use Less Hot Water – After heating and cooling, hot water accounts for the second-largest energy expense in most homes.² To cut back, repair any leaks or dripping faucets, install low-flow fixtures, only run your dishwasher when full, and wash clothes in cold water when possible.

Lower Overall Water Consumption – To decrease your water usage, take shorter showers, and turn off the sink while you brush your teeth. If you don’t have a low-flow toilet, retrofit your current one with a toilet tank bank or fill cycle diverter. And irrigate your lawn in the morning or evening to minimize evaporation.³

Conserve Electricity – Save electricity by shutting off your computer at night and installing energy-efficient LED light bulbs. You can minimize standby or “vampire” power drain by utilizing power strips and unplugging idle appliances.⁴

Purchase a Home Warranty – While there is an upfront cost, a home warranty can provide some protection and peace of mind when it comes to unexpected home repair costs. Most plans provide coverage for major systems (like electrical, plumbing, and HVAC) and appliances (such as your dishwasher, stove, or refrigerator).

This one has personally been a game changer for us. While home warranties are not necessarily cheap, our warranties have saved us a lot of money over the years, from garbage disposals going out to A/C repair (critical in Arizona!) and so much more.

Outsource Less – From lawn care to grocery shopping to minor home repairs, we pay people to do a lot of things our parents and grandparents did themselves. To save money, try cutting back on the frequency of these services or taking some of them on yourself.

Prepare Your Own Meals – It costs nearly five times more to have a meal delivered than it does to cook it at home.⁵ And home cooking doesn’t just save money; it’s healthier, cuts down on calorie consumption, and can offer a fun activity for families to do together.

Plan Your Menu in Advance – Meal planning is deciding before you shop what you and your family will eat for breakfast, lunch, and dinner. It can help you lower your overall food bill, eliminate waste, and minimize impulse purchases. When possible, buy produce that is in season, and utilize nutrient-rich but inexpensive protein sources like eggs, beans, ground turkey, and canned tuna.

Plant a Garden – You can save even more on produce by growing it yourself. If you have space in your yard, start-up costs are relatively minimal. No yard? You can set up a window box and grow your own herbs. Gardening can be a rewarding and enjoyable (not to mention delicious) hobby for the whole family. And it could save you around $600 per year at the grocery store!⁶

Review Memberships and Subscriptions – Are you paying for services and subscriptions you no longer need, want, or can utilize? Determine if there are any that you should suspend or cancel.

Give Homemade Gifts – Who wouldn’t appreciate a birthday cake made from scratch or tin of cookies? And if you enjoy crafting, Pinterest and Instagram are full of inspiring ideas. Show your recipient how much you care with a homemade gift from the heart.

Minimize Your Debt Payments – The best way to reduce a debt payment is to pay down the balance. But if that’s not an option right now, try to negotiate a better interest rate. If you have a good credit score, you may be able to qualify for a balance transfer to a 0% or low-interest rate credit card. Keep in mind, the rate may expire after a certain period—so be sure to read the fine print.

Get a Cash-Back Credit Card – If you regularly pay your credit card balance in full, a cash-back credit card can be a good way to earn a little money back each month. However, they often come with high-interest rates and fees if you carry a balance. Commit to only using it for purchases you can afford.

Ask for Deals and Discounts – It may feel awkward at first, but becoming a master haggler can save you a lot of money. Many companies are willing to negotiate under the right circumstances. Always inquire about special promotions or incentives. See if they are able to price match (or beat) their competitors. And if an item is slightly defective or nearing its expiration date, ask for a discount.

Track Your Household Budget – One of the most effective ways to reduce household expenses is to set a budget—and stick to it. A budget can help you see where your money is going and identify areas where you can cut back. By setting reasonable limits, you’ll be able to reach your financial goals faster.

Want more help getting a handle on your finances? Use a budget worksheet below to track income and expenses—and start working towards your financial goals today! We have a downloadable version if you would like one.

WE’RE HERE TO HELP

We would love to help you meet your financial goals. Whether you want to refinance your mortgage, save up for a down payment, or simply find lower-cost alternatives for home repairs, maintenance, or utilities, we are happy to provide our insights and referrals. And if you have plans to buy or sell a home this year, we can discuss the steps you should be taking to financially prepare. Contact us today to schedule a free consultation!

The above references an opinion and is for informational purposes only. It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

Sources:

Insurance Information Institute –
https://www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs
Department of Energy –
https://www.energy.gov/energysaver/water-heating/reduce-hot-water-use-energy-savings
Money Crashers –
https://www.moneycrashers.com/ways-conserve-water/
Harvard University –
https://green.harvard.edu/tools-resources/poster/top-5-steps-reduce-your-energy-consumption
Forbes –
https://www.forbes.com/sites/priceonomics/2018/07/10/heres-how-much-money-do-you-save-by-cooking-at-home/#2c53b2f35e54
Money –
https://money.com/gardening-grocery-savings/

Scottsdale AZ Luxury Home Market – March 2020

April 28, 2020 By Heather Tawes Nelson

– Scottsdale Luxury Home Market Performance for March 2020 –

The luxury home market really picked up momentum in February which then carried over into March. Demand fell in March due to people putting their plans on hold, but sales still came in strong for the month. This decreased demand will translate into weaker sales numbers for April.

This report covers the luxury home market in Scottsdale. All of these homes were listed for $1 million or more.

We track these four items on a monthly basis:
Active – How many homes were for sale at the end of the month.
UCB (Under Contract Accepting Backup Offers) – How many homes were under contract, but still accepting backup offers at the end of the month.
Pending – How many homes were in pending status at the end of the month.
Sold – The number of home sales.

– MARCH 2020 –

Scottsdale Homes Priced Between $1,000,000 – $1,499,999

– Active Scottsdale Homes on the Market: Inventory was up slightly to close out the month at 238.
– UCB Scottsdale Home Sales: After a large jump between January and a very impressive February, UCBs were down over 45% in March. However, if you look at April 2019, we are not too far off numbers-wise.
– Pending Scottsdale Home Sales: Pending sales also fell in March, but they were still ahead of the 12 month average.
– Scottsdale Homes Sold: Sales were the highest (69!) they have been in the past year and well above the 12 month average.
– Sales Price to Listed Price: 95.7% – On average buyers saw a discount off of list price of 4.3%.

Scottsdale Homes Priced Between $1,500,000 – $1,999,999

– Active Scottsdale Homes on the Market: Inventory was down by eleven in March. The number of homes for sale in March is well below where we were in April of 2019.
– UCB Scottsdale Home Sales: After a very strong January, UCB contracts have been falling. March posted the second lowest number of UCBs in the last twelve months.
– Pending Scottsdale Home Sales: Pending sales, while down from March, were pretty close to what we historically expect.
– Scottsdale Homes Sold: Sales were level at 32 and on track with what we saw in the Spring of 2019.
– Sales Price to Listed Price: 94.7% – On average, buyers saw a discount off of list price of 5.3%.

Scottsdale Homes Priced Between $2,000,000 – $2,999,999

– Active Scottsdale Homes on the Market: Inventory was up slightly between February and March.
– UCB Scottsdale Home Sales: The number of UCB homes fell in March, but not dramatically.
– Pending Scottsdale Home Sales: Pendings took a huge hit after two very strong months. This is definitely something to monitor.
– Scottsdale Homes Sold: Home sales were level in this price point as well and this was another strong month.
– Sales Price to Listed Price: 95.5% – On average, buyers saw a discount off of list price of 4.5%.