From Our Blog

Phoenix Luxury Home Market is slowly recovering – Phoenix Business Journal

Recently, the Phoenix Business Journal reported our market stats in collaboration with Michael Orr, real estate expert at Arizona State University’s W.P. Carey School of Business and author of the Cromford Report in Phoenix. The Metro Phoenix home market has experienced far more foreclosures and short sales recently and the lower end markets have received the bulk of the attention. However, the luxury real estate market has been left out of the picture. Our luxury market report, which accounts for homes prices above $1 million states that the luxury home market did not experience the same extreme declines that the rest of the Valley experienced. Therefore, these high-end homes did [...] read more

WSJ House of the Day

We’re always excited when one of our properties is featured in the news, and this House of the Day feature in the Wall Street Journal is no exception.  Featuring one of the most exotic and fun backyards in Paradise Valley, you’ll never be left wondering how to entertain all those visitors flying down from colder climates.  And with  over 10,000 square feet of living space, you’ll have plenty of room for them to stay. For a personal tour of the home, please contact Libby Cohen at 602-291-1446. read more

Wall Street Journal “House of the Day” – Paradise Valley Home

Wall Street Journal’s “House of the Day” strikes conversation when owner Greg Burk listed his five bed, seven bath home with us  for $5.7 million. As viewers could see in the spread of photos displaying the rich walnut and hickory wood floors, a large home office, and a backyard with a second outdoor kitchen and large pool, using the term ‘luxury home’ is an understatement when it comes to this Paradise Valley mansion. Burk redid most of the home and exterior, adding six fireplaces, a home theater and game room, and large glass doors overlooking the terrace and generous view of the Paradise Valley mountains. This desert oasis has a [...] read more

Scottsdale Business + Life featured Sedona’s El Rojo Grande

2013 not only marks our 33rd year of being ranked in the top one percent of real estate agents in the United States, but also a milestone for Walt Danley Realty with a Sedona property listing for the jaw-dropping price of $18.5 million. Scottsdale Business + Life featured this Sedona retreat in their January 2013 issue. El Rojo Grande is indeed a private residence however, with this much land in such a prestigious, natural setting as Sedona, it is perfect for events and corporate purposes as well. read more

NBA Star Jason Kidd’s Incredible PV Estate

Catherine Jacobson recently shared a few thoughts with the Phoenix Business Journal about a home as big as the NBA star who once lived there. To learn more about the home, view a slide show, and read more details about all the luxuries this home offers, click here. read more

Is 2012 the “Year of Capitulation” for Sellers?

USAToday.com published a story over the weekend dramatically labeling 2012 as “The Year of Capitulation” for luxury home sellers.  Other brokers have reasoned that owners of luxury homes are (finally) relenting to market pressures and are slashing prices on their homes.  While this is true in some cases, I think the article misses the bigger picture.   Are Paradise Valley and Scottsdale area real estate prices down from unparalleled highs in 2007?  Yes.  But are we headed up from dismal lows?  Also, yes.   The fact is, price-per-square-foot (which is a more accurate measurement than sales price), is at around 2010 levels, or, and this is what I mean big [...] read more

AZFoothill.com – Best Custom Home Builders

Congratulations to Desert Star Construction, recently named one of Arizona Foothills Magazine’s Best Custom Homebuilders. I know they have several exciting projects in the works, but one of them is for sale right now.  And we’re proud to have featured it on the cover of our Portfolio magazine.  Click here to take a tour of one of Paradise Valley’s most remarkable custom luxury homes. read more

Mountain Shadows Resort Update May Boost Home Values

Our very own Catherine Jacobson was quoted in today’s Arizona Republic.   “Catherine … said a definitive development plan that is ready to go would be a big boost for Mountain Shadows East and West residents and their home values. There already has been an increase in price per square foot for Mountain Shadows homes as the overall real-estate market improves, said Jacobson, a resident of Mountain Shadows West. “We moved in about a year before the resort shut down, just long enough to know how nice it would be to have a new resort come around,” she said.   Read the rest of the article here. read more

Guest Post: Tenant’s Rights During Foreclosure

What happens to a tenant when the landlord stops paying on the mortgage and lets the bank foreclose? These days, it’s a common question potential tenants are wise to ask and here with the answer is Chris Combs, Esq., founder of the Combs Law Group, a law firm with extensive business and real estate law experience based in Phoenix. Writes Chris: The Protecting Tenants at Foreclosure Act of 2009 (“Act”) provided that any bona fide residential lease entered into prior to the date of foreclosure would have to be honored by the bank or other new owner. This provision in the Act was unclear but was generally interpreted in Arizona to mean that a [...] read more

Market Math – Stymied by Statistics?

Eventually they’ll get it right, and by then they’ll be too late. Yesterday the Phoenix Business Journal reported on two studies finding that the Phoenix market is up 7% from last year — and simultaneously heading down 11 percent this year. The “up 7 percent” article compares March 2011 to March 2012.  Checked against our own data, the 7 percent is accurate for Phoenix’s luxury real estate neighborhoods like Paradise Valley, Scottsdale, and Arcadia.  Good news! However, what mystified me was the second study claiming that we would be facing an 11 percent decrease in prices this year after such a strong first quarter — showing no signs of letting up.  And to this point, [...] read more