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Market Conditions in Paradise Valley : Real Estate Advice

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Activity 4
Sun Aug 11, 2013
Rob Ryan answered:
Kharmo333 -

I quickly researched the 7 properties adjacent to this home. The most important factors in determining a property's value are: house size, lot size, year home built and amenities. The home at 6021 N 44th Street in Paradise Valley is larger than all the adjacent homes (9,564 sf), is on the largest lot (1.45 acres) and is the 2nd newest home (built in 2004). Thus, I would expect its valuation to be the highest of this small sample, and therefore its property taxes are the highest.

Let me know if you would like any assistance in finding the ideal home to purchase.

Sincerely,

Rob Ryan
The Gallery Collection
Luxury Division of West USA Realty
602-828-1589
RobAZHomes@gmail.com
www.RobSellsAZHomes.com
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Tue Jun 25, 2013
Bianca Bennett answered:
Can be a variety of reasons, where did you get these statistics from?


Best Regards,

Real Estate Professional / Prestige Realty
Bianca Bennett / 602-570-7898
Bianca@InvestInArizonaHomes.com
Website: www.InvestInArizonaHomes.com
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Thu Jun 2, 2011
Carmen Brodeur, JD answered:
If you choose not to use www.VRBO.com then I would suggest going through a real estate team that specializes in rentals. They can help you through the whole process and make sure that nothing is missed. ... more
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Thu Mar 17, 2011
Jim Kuttner answered:
I know that Zillow does not have a great reputation with Real Estate agents for a number of reasons. It is my opinion that Zillow does track pricing trends fairly well though.

Pricing for the luxury home market is very volatile in this Phoenix/Paradise Valley/Scottsdale market. There are not enough buyers for all of the properties listed. When a seller decides that they are "very motivated" then they drop the price until a buyer is interested. Being that there are many bank owned properties and short sales, this means that prices drop to the lowest price available usually. That is a slippery slope.

During any given month, the properties sold can show a misleading trend-line. All it takes is a few very low priced homes in a slow month to skew the average price downward. If there are no very high priced home sales that month, then we could expect the drop to be exaggerated. (this also works in the opposite direction)

That said, the values in PV and everywhere have been affected dramatically during this market downturn. The best way to really know what prices are doing is to have an agent perform a very detailed analysis of homes like yours. If you have your home listed, this should be something your agent could provide. If your home is not listed, I would be happy to help.

Jim Kuttner
RE/MAX Professionals
jim.kuttner@remax.net
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