Abby, Other/Just Looking in Scottsdale, AZ

Will the Scottsdale Waterfront appreciate the home values of the surrounding neighborhood?

Asked by Abby, Scottsdale, AZ Thu Aug 9, 2007

Also, Could anyone recommend some of the new restaurants popping up in Old Town/Downtown Scottsdale (and I'm not talking the Pink Taco) that are really good?

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5
Of course it will. BTW, homes in that area are ripe for appreciation IMO.
1 vote Thank Flag Link Wed May 28, 2008
Yes! New development will always help pull up the values of older surrounding residences.
Anyone who owns close to the waterfront should be thanking their lucky stars that they have such a first class development in their neighborhood.
0 votes Thank Flag Link Mon Mar 29, 2010
This is my farm area and I will be honest, if you can pick up a LOW priced foreclosure in a community where HOA is not in jeopardy go!! OPTIMA and WATERFRONT will both feel the bumps of the foreclosure wave. The condo community has a harder time because HOA fees are harder for a buyer to swallow and nobody can determine the increases as the homeowners do NOT pay fees as the market corrects and more short sales and foreclosures hit. Most of the purchasers are filing BK-that means these will be tied up in NON paying status for a while and will likely drive up owner's prices for the duration.
My advice, research HOA and see how many defaults are in a community. Waterfront is feeling the effects and will probable double in HOA once the developement is sold in full and a new company is established. Hard to tell and we don't know who will let go of their over-priced 2006-07 investments!
Please go to CITY HALL, it is awesome! Great place also ROKA AKUR just north of Chaparral on east side of scottsdale Rd. AWESOME!!
Another great place is Pita house but that isn't new it is just really excellent and affordable. Some of the older spots are also just as great. Personally, the smaller places are excellent... service is usually really great too!

KELLI GUBRUD
Century 21 ALL STAR
602-579-0854
0 votes Thank Flag Link Sat Aug 29, 2009
well, 3rd Avenue lofts, a luxury development in the same area, is foreclosing at the fastest rate I have ever seen. After foreclosure, they are sitting on the MLS without buyers for 30% of their two year ago price. I'd call it the fastest loss of money I have ever seen in a development.

Meanwhile, as reported in the AZ republic, the shops of waterfront are not seeing enough buyers for many of them to survive. All of this BEFORE the recession really starts.

It will be an interesting year as all the new condos being built right now in that area hit the market, fail, and die...

read my real estate blog: http://phxrealestate.tumblr.com/
0 votes Thank Flag Link Tue Jul 15, 2008
In a word, yes. The location of central Scottsdale is prime Real Estate, so the new development will only help values. I have yet to try any of the new restaurants, as I typically stick to my old standbys (Z Tejas, Carlsbad Taverns, Tortilla Factory, Frank & Lupes, etc). If you try any of the newer places before I do, let me know what you think.
Web Reference: http://rayandpaul.com
0 votes Thank Flag Link Thu Aug 9, 2007
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