Scottsdale AZ Real Estate & Lifestyle

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Heather

Where to Eat in Scottsdale AZ: JJ’s Deli (at Kashman’s former location)

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Bagel from JJs Deli Scottsdale AZIf you have been missing your North Scottsdale bagel-fix with the absence of  Kashman’s Place Deli, despair no more. JJ’s Deli is now open in the former location of Kashman’s at Scottsdale Road and Pinnacle Peak.

I had the opportunity to stop in this afternoon at JJ’s Deli and see the new restaurant and its menu. The owner could not have been nicer or more welcoming and some of my favorite staff members from Kashman’s are now JJ’s employees, which was great to see.

JJ’s motto is “Home of the ‘Pnish’,  Breakfast, Lunch, Bagels and Friends.” If you are wondering what a ‘Pnish’ is, it is a square potato knish that is sliced and filled with your choice of meat and cheese and then grilled Panini-style.

The rest of the menu has lots to choose from for both breakfast and lunch. For breakfast, choose from eggs, omelets, skillets, French toast, matzo brie, bagels and a lot more.

The lunch menu has an equally large number of choices from a make your own sandwich option, to deli noshes (knishes, latkes, etc.) , hot and cold sandwiches and salads. If you are interested in take-away, you can buy the deli meats and prepared food and salads by the half-pound and by the pound.

I am excited to see JJ’s thrive and succeed in its new home. If my quick visit today was any indication, it should do very well.

More Information on JJ’s Delicatessen:
23245 North Scottsdale Road
Scottsdale, AZ 85255
At Scottsdale Road and Pinnacle Peak
(480) 563-4557
www.jjsdeliaz.com
Hours 6am-3pm Daily

Scottsdale AZ Home Sales By Type – Includes Foreclosures & Short Sales – Q2 2010

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At the end of each quarter, I take a look at Scottsdale Arizona home sales statistics to see how the various sales types broke out. For instance, how many home sales were “regular” sales? How many were distress sales such as foreclosures or short sales? And, how do these numbers compare to the previous quarter?

Here is how I define the three categories:
– Non-Distressed Sales – These are traditional, “regular” home sales.
– Short Sales – These are where the homeowners are trying to sell the home for less than is owed with their lender’s approval.
– Foreclosures – These are homes the lender has foreclosed upon and now owns. You will see them referenced as “Lender-Owned”. You may also hear them called “REO‘” homes or “Bank-Owned” homes.

Overall Findings for Q2 2010 – Scottsdale Single-Family Home Market

  • Active Homes For Sale: The majority of homes on the market are “non-distressed” at 76%. This is down from 78% at the end of the first quarter. Short sales were the next highest at 16%, up 1% from the end of Q1. The lender-owned inventory shrunk to 7%.
  • Pending Homes for Sale: The number of pending short sales was up from 32% to 36% of all pendings at the end of the second quarter of 2010. Lender-owned pending sales were also up to 22% from 20%. In return, the number of “regular” homes sales that were pending dropped off from 48% at the end of the first quarter to 42% at the end of the second quarter.
  • Q2 2010 Scottsdale Home Sales: Non-distressed homes sales again were the majority of  sales in the second quarter with 56% of all sales. Short sales and foreclosures were evenly split with 22% of the sales each. Short sales were up 2% over Q1 and conversely foreclosures were down 2% over Q1.
  • Home Prices: Non-distressed homes sale prices as well as average price per square foot continue to be significantly higher than short sales and foreclosures.  The average sale price of a non-distressed home was almost $200K higher than short sales and over $225K for foreclosures. As expected, lender-owned homes had the lowest average price per square foot. Average price per square foot for  regular sales went down from $200.85 in Q1 to $191.92 in Q2. Short sale average price per square foot actually increased in Q2 to $156.26 from $149.76. Foreclosure average price per square foot was almost identical with $134.15 in Q2 versus $134.76 in Q1.
  • Days on Market: The number of days on market were down for all three categories in Q2. Non-distressed homes went from 152 days in Q1 to 144 in Q2. Short sales saw a drop of  almost a month going from 207 days to 180 days. Foreclosures also dropped from 133 days to 114.
  • Discounts Off of List Price: Once again, the largest discount off of asking price is seen in the non-distressed sale category. On average, homes were sold at an 8% discount off of asking price. The average discount on this group for Q1 was 9% off list price. Short sales and foreclosures both averaged a 5% discount off of asking price. One interesting thing to point out is that the discount for short sales shrunk between Q1 and Q2. The average discount in Q1 was 8% off asking. I am not sure if this is because listing agents are submitting fewer “lowball” offers, if the asking prices of these homes are getting closer to appraised values, if lenders are holding strong with the prices they want to receive, or if something else is at play. It should be interesting to see what happens in Q3.

Scottsdale Home Sales Q2 2010 Short Sales Foreclosures

Scottsdale Home Sales by Type Comparison for 2009 and 2010

Here is the same analysis for the first half of 2010.

Scottsdale Home Sales Q1 Q2 2010 Short Sales Foreclosures

Previous Reports
View Scottsdale Home Sales by Type for Q1 2010
View Scottsdale Home Sales by Type for 2009

Disclaimer: Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 1/1/2010, 4/1/2010 and 7/1/2010 and can change at any time. The analysis looks at single-family resale homes for sale and sales 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. Information deemed reliable but not guaranteed.
Copyright © 2010 Heather Tawes Nelson

Things to Do in Scottsdale AZ: Summer 2010

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Sign in Downtown Scottsdale ArizonaEven during the hottest days of summer, Scottsdale has plenty of events and things to do. Here is a collection of events and happenings that are coming up over the next several weeks in Scottsdale.

JULY
– Day of the Cowboy – July 24th – Various Events around Scottsdale
Celebrate Scottsdale’s Western and Cowboy roots by celebrating the Day of the Cowboy. Listen to cowboy stories and cowboy poetry at the McDowell Mountain Preserve. Take a tour of western art by following a self-guided tour of various western art installations. Visit the Scottsdale Museum of Contemporary Art and experience the Western exhibition. If you prefer to celebrate from the comfort of your own home, you can catch the Hashknife Pony Express Ride on TV. Click for more information regarding the Day of the Cowboy.

– Indoor Mall Walk Supporting Partnership for Drug-Free America – July 24 – 8-10AM
Fashion Square Mall is hosting its first official mall walk with this event. Get some exercise and window shop in an air-conditioned mall, all while supporting charity. In addition to the Mall Walk, the Scottsdale Police Department will be doing a prescription drug destruction event. Rather than tossing unused prescription drugs where they could be possibly be ingested by animals or get into the water table, bring your leftover medicine to the event and they will destroy it for you. Click for more information on the Mall Walk.

– Scottsdale Museum of Contemporary Art – Various Installations
Visit the SMoCA and escape from the heat. The Western exhibition mentioned previously runs through August 22nd. Want something more modern-day? Check out the Young @ Art Gallery Visions’ “Text Messages”  event through September 10th. Another one to see is the Architecture + Art: 90 Days Over 100 Degrees installation which runs through September 19th.

ONGOING SCOTTSDALE EVENTS
Scottsdale also has several ongoing events to take advantage of.

– Scottsdale Artwalk on Thursday Nights – Every Thursday from 7-9PM, stroll the Scottsdale Arts District and visit the wonderful galleries after-hours.
–Old Town Farmer’s Market – Every Saturday morning from 8AM to noon, visit the Scottsdale’s Farmer Market at the Scottsdale Stadium.
– “Localmotion” Trolley Tours– On the second Saturday of the month, hop on the trolley and explore Scottsdale. Starting at 10:30AM, you will enjoy a two-hour tour including the Old Mission, Southbridge and more. Reservations are required. Please call (480) 634-6850 for more information and to make a reservation.

Information deemed reliable but not guaranteed.

5 Ways to Beat the Heat in Scottsdale AZ This Summer

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Musical Instrument Museum Display Phoenix AZ
Musical Instrument Museum Display

Anyone who knows anything about Scottsdale, Arizona is aware that it gets quite warm during the summer. The following list has a few ideas of how you can beat the heat this summer in Scottsdale.

1) Visit the Musical Instrument Museum. Enjoy hours of musically traveling the globe and learning. Feeling hands on? The Musical Instrument Museum has an entire room devoted to instruments you can play with. North Phoenix -4725 East Mayo Boulevard, Phoenix, AZ 85050

2) Cool off at the McDowell Mountain Ranch Park and Aquatic Center. Located in North Scottsdale, the Mc Dowell Mountain Aquatic Center is home to an eight lane lap pool, a play pool with water features, a winding lazy river, a waterslide and more.  North Scottsdale – 15525 N. Thompson Peak Pkwy, Scottsdale, AZ 85260

3) Have kids or grandkids? Visit the Children’s Museum of Phoenix. Everything in the museum is designed for interactivity and hands-on experiences. Complete an art project, race motor cars, whip up a “meal” after shopping at the kid-size grocery store or read a book… There is no shortage of things to try at the Children’s Museum of Phoenix. Downtown Phoenix –  215 N. 7th Street, Phoenix, Arizona  85034

Appaloosa Library North Scottsdale AZ

4) Looking for a quiet place to pass the time? Visit the Appaloosa Library in North Scottsdale or any of the other Scottsdale Public Libraries. With plenty of areas to sit and read or do online research, the Scottsdale library locations are a great place to stay cool. multiple Locations. Appaloosa Library located at 7333 E. Silverstone Drive, Scottsdale, AZ 85255

5) Shop to your heart’s content at the Fashion Square Mall in Downtown Scottsdale. With three stories of shops to choose from, there is something for everyone. Enjoy several department stores, high-end retail boutiques, popular chain stores and more grace the various levels. And, with the addition of the new wing, anchored by the only Arizona location of Barneys New York, there is even more shopping to be had. And if all of the shopping has made you hungry, there are plenty of dining options to choose from. Be sure to stop by the visually stunning Modern Steak in the new wing. Located on the corner of Camelback Road and Scottsdale Road in Downtown Scottsdale (UPDATE: Modern Steak has closed.)
 

 

 

What Kind of Home Will $1 Million Buy You?

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North Scottsdale Luxury Homes I came across an interesting analysis on the web today that came from Bloomberg Businessweek. It looks at how much and what kind of home you could buy for $1 million in several different areas of the United States. Interestingly enough, the lead home for sale is located in Scottsdale, Arizona. It is a beautiful home with a casita on over an acre in North Scottsdale.

Click to see the How Much House for $1 Million analysis. 

It is interesting to see the difference in square footage and lot sizes between the different markets. As expected, in expensive markets like the San Francisco Bay Area, your $1 million will not go as far as it would in Noblesville, Indiana, a suburb of Indianapolis.

If you are interested in seeing other homes in Scottsdale for sale around the million dollar price range, simply click on the link below.
Million Dollar Homes For Sale in Scottsdale, Arizona.

Phoenix and Scottsdale Luxury Condo Market – First Half of 2010

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Here is an analysis for the first half of 2010 for the Phoenix and Scottsdale Luxury Condo Market. I define the luxury condo market as condos with asking prices in excess of $1 million.

During the first half of 2010, luxury condos in Scottsdale and Phoenix were selling at an average of just over 2 per month. Over two-thirds of sales activity took place in Scottsdale with Scottsdale Waterfront Residences and Optima Camelview having the most sales. The remaining 31% of sales were in Phoenix. This year’s performance has already surpassed 2009’s luxury condo sales, where there were only 11 sales in total.

Here is a chart showing total performance for Q1 and Q2 2010:

Phoenix and Scottsdale AZ Luxury Condo Sales for Q1 and Q2 2010

As you can see, sales were almost equally divided between Q1 and Q2, but what is interesting is how the numbers improved over the two quarters. The average sales price was up just over $100K and the discount of off asking price also improved – from an average of 15% off asking price to an average of 9% off asking price. The average price per square foot also saw an increase of over $66 per square foot. Finally, the days on market also saw a decrease of a little more than a month.

I also wanted to break this same information out into each of the cities.

Here are the results for Scottsdale’s Luxury Condo Market for Q1 and Q2 2010:

Scottsdale AZ Luxury Condo Sales for Q1 and Q2 2010

Second quarter performance for Scottsdale condos was twice that of the first quarter. We are also seeing the same trends we saw in the combined numbers, but more dramatically. Average sales price was up significantly in Q2 as was average price per square foot. Average days on market decreased by almost three months. The sales price to list price ratio also improved, but not as much as we saw in the combined figures.

Here are the results for Phoenix’s Luxury Condo Market for Q1 and Q2 2010:

Phoenix Luxury Condo Sales for Q1 and Q2 2010
Unlike the Scottsdale luxury condo market which picked up speed as the year progresses, the Phoenix luxury condo market saw a large dropoff from Q1 to Q2. 75% of the sales in Phoenix took place in the first quarter of 2010. Average sales price decreased as well as average price per square foot. Additionally, discounts off of asking price increased. However, we did see the average days on market decrease slightly.

Overall the luxury condo market in Scottsdale and Phoenix is performing very well in 2010. Ideally, Phoenix condo sales will pick back up, but we are still ahead of the entire year of 2009 at this point.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2010 and can change at any time. The analysis looks at resale luxury condos in Scottsdale and Phoenix over the first two quarters of 2010. There may be new home inventory in these figures if the developer is using the MLS to market its homes.
Copyright © 2010 Heather Tawes Nelson

Phoenix and Scottsdale AZ Luxury Condo Sales – June 2010

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Here are the luxury condo sales numbers for Scottsdale and Phoenix for the month of June 2010.  In this analysis, I am classifying the luxury condo market as condominiums for sale with list prices of $1 million or more.

The Phoenix area luxury condo market continues to do well. Averaging just over two sales per month, there were three sales during the month of June. All three sales took place in Scottsdale. The first sale was at Optima Camelview, located in downtown Scottsdale. The sales price was $1,035,000 and it was for a two bedroom, two and one-half bathroom unit with 2,114 square feet. The second sale was at the nearby Scottsdale Waterfront Residences. It was for a two bedroom, two and one–half bathroom unit with 2,469 square feet and it sold for $1,250,000. The final sale was a little further north in the Kierland area. It was at the Kierland Plaza Lofts and the unit had three bedrooms, two and one-half baths and 3,569 square feet. The sales price for this home was $2,150,000. This is the highest sales price we have seen in the Scottsdale condo market this year.

There was one pending sale at the end of June and it was at the Scottsdale Waterfront Residences. This 2,287 square foot unit is listed for $1,290,000 and has two bedrooms, two and one-half baths and 2,287 square feet.

Phoenix and Scottsdale Luxury Condominium Market - June 2010

Overall, the month of June was another strong month for the Phoenix and Scottsdale luxury condo market. Four pending sales at the end of May resulted in the successful sale of three condos in June. On a more discouraging note, the presence of one pending sale at the end of June does not bode well for July luxury condo sales.

Additionally, Phoenix condo sales have been sputtering in the second quarter of 2010. Out of 13 total luxury condos sales this year, only four (31%) have been in Phoenix. The rest were all in Scottsdale. And, there was only one luxury condo sale in Phoenix over the last three months. Let’s hope activity picks up again for Phoenix’s luxury condos.

View Scottsdale Waterfront Residences condos for sale
View Optima Camelview condos for sale

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2010 and can change at any time. The analysis looks at resale luxury condos in Scottsdale 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 © 2010 Heather Tawes Nelson

Scottsdale AZ Luxury Home Market – June 2010

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Here are the figures for Scottsdale’s luxury home market for June 2010. I am defining the luxury home market  as homes with list prices in excess of $1 million. This analysis looks at the activity of single-family, resale homes in Scottsdale over the last 12 months.

– June 2010 – 
 
Homes Priced Between $1,000,000 – $1,499,999
– Actives: At the end of June, there were 279 homes on the market in Scottsdale in this price range. This number has been steadily decreasing since March and is well below the 12 month average of 357 active homes.
– Pendings: Twenty-eight homes were pending sale at the end of the month. This is a 20% drop off from May and is the same as the 12 month average of 28 pending sales.
– Sold: Thirty homes sold in June, up 42.9% over May’s sales figures, which is the highest we have seen in 12 months. The closest sales have been to this was in September of 2009. The 12 month average for home sales is 21.
– Sales Price to Listed Price: 89.5% – This is pretty typical for this price range, which hovers in the high 80%’s and low 90%’s.

Scottsdale AZ Luxury Home Market $1 million to $1.5 million 

 Homes Priced Between $1,500,000 – $1,999,999
– Actives: At the end of the month, 182 homes were for sale at this price point. This number has been decreasing since the February of this year and this is the first time this number has dipped to under 200 in the last year. The 12 month average for this figure is 226.
– Pendings: Pending sales came in at 18 at the end of the month which is right on track with the 12 month average.
– Sold: There were 11 home sales in June, which is also the same as the 12 month average of 11.
– Sales Price to Listed Price: 83.6% – This is a little lower than we typically see. Usually, this is closer to the mid-80%’s.

Scottsdale AZ Luxury Home Market - $1.5 million to $2 million

Homes Priced Between $2,000,000 – $2,999,999
– Actives: Only 156 homes were on the market in this price point at the end of  June. This figure has been dropping since November of 2009 and the 12 month average is 215.
– Pendings: Only 4 homes were pending at the end of the month. This is a very large drop (63.6%) from May’s 11 pending sales. The 12 month average is twice this figure at 8.
– Sold: Home sales in June were excellent for this price range. Ten homes sold. The 12 month average is 7.
– Sales Price to Listed Price: 87.9% – This is pretty standard for this price point.

Scottsdale AZ Luxury Home Market - $2 million to $3 million

Homes Priced $3,000,000+
– Actives: 125 homes were listed for over $3 million last month. This figure was down 5% over May’s 132. The 12 month average for active homes in this price segment is 144.
– Pendings: There were 4 pending sales at the end of June. This is down a little from April and May, but is still ahead of the 12 month average of 3.
– Sold: Four homes sold for more than $3 million in June. This is also slightly ahead of the twelve month average of 3.
– Sales Price to Listed Price: 87.9% – This is pretty standard for this price range.

Scottsdale AZ Luxury Home Market - $3 million or more

June was another decent month for the luxury home market in Scottsdale AZ. Inventory continues to decrease and sales activity was strong. What is worrisome is that pending sales activity dropped off quite a bit from the momentum it was gaining. Therefore, July sales figures will be impacted negatively.

To see 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 real estate market and the surrounding areas, please visit my Real Estate Market Reports page.

Disclaimer: Information herein deemed reliable but not guaranteed. Data and information was pulled from the Arizona Regional MLS (ARMLS) as of 7/1/2010 and can change at any time. The analysis looks at single-family resale homes in Scottsdale 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 implied or expressed.
Copyright © 2010 Heather Tawes Nelson

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