Desert Highlands: Industry experts tell us that Desert Highlands trails somewhat in terms of appreciation rates due to the fact that ownership in this community goes hand-in-hand with a membership to the golf club (for a mandatory $75,000 transfer fee, which is often negotiated between the buyer and seller when a home sells.) The point is, a buyer for this community is not only looking to be a member of a golf club, but a member of Desert Highlands Golf Club in particular. As a result, the buyer pool is somewhat limited for this neighborhood, and this likely has an effect on both the rate of sales and pricing in this community.
Ancala: From the feedback we have listened to over the years from other Realtors, buyers and sellers, Ancala may be experiencing lower appreciation rates due to: 1) it has a longer commute to the 101 Freeway and the retail and restaurants of Scottsdale’s 101 corridor than, for example, DC Ranch, Silverleaf and Grayhawk; 2) the homes are a little older; 3) there is a higher density in this community compared to some of the other communities reviewed here.
Troon and Troon North: Appreciation rates in these two neighborhoods have also under-performed relative to some of the other neighborhoods over the past 3 years. Despite the tremendous natural beauty that you find in these two neighborhoods and lower density levels compared to most parts of DC Ranch and Grayhawk, our buyers and other agents often comment on its farther out location and lack of lifestyle amenities (compared to communities like DC Ranch, Silverleaf and Desert Mountain.) These factors may be playing a role in the lower appreciation rates over the past 3 years.
We feel that Troon, Troon North, Desert Highlands and Ancala represent some of the best luxury bargains for today’s North Scottsdale buyers. As a result we may see higher appreciation rates in these neighborhoods over the next few years relative to some of the leading neighborhoods above, as buyers take advantage of the perceived bargains. We see the forces of supply and demand at work in the real estate market everyday. If one neighborhood is considered a bargain today, often buyer demand increases in that neighborhood in the short term. Increased demand results in a decrease in supply as homes are purchased and inventory is removed from the market. The decrease in supply inevitably causes prices to rise, and a degree of balance is restored in the market.
What does all this mean? Why is this data important?
We can’t predict the future from what the past looks like. However, we see a couple of big takeaways for Scottsdale homeowners, sellers and buyers:
Sellers/homeowners: You may be sitting on more equity than you thought. Values in almost all of the 8 neighborhoods analyzed in this report have rebounded significantly from 2012. Give us a call today if you’re interested in a customized property valuation report prepared by our team.
Buyers: Before you buy, make sure you do your homework, and are working with an agent (preferably us!) who is familiar with the various neighborhoods in the Scottsdale and North Scottsdale areas, including their amenities, their personalities and what makes them “tick.”In addition to helping you find the perfect fit for your particular lifestyle, the right agent (The Matheson Team!) can help you understand how the neighborhood you pick can have a big impact on the equity you build in your home over time. Contact us today to begin working with a highly experienced agent on The Matheson Team to find your next home.
We hope you’ve found this data both interesting and useful. Here at The Matheson Team we’re already using this information to help both our buyers and sellers make more informed decisions.
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The Matheson Team – RE/MAX Fine Properties
Who is The Matheson Team? We’re Scottsdale Realtors and one of the top luxury teams in Arizona. Discover all the ways we do more than anyone else for our valued clients at ScottsdaleRealEstate.com