downtown scottsdale lifestyle march/april 2011

If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

March | April 2011

Downtown Scottsdale’s Urban Real Estate Report

Welcome to your very own Downtown Scottsdale Lifestyle. Watch for us in your mailbox every other month as we give detailed information to you on real estate activity within the Downtown Scottsdale area. We invite you to call on us for any future buying or selling needs you may have. As specialists in urban downtown real estate, we lend unparalleled knowledge and expertise to every transaction.

INTERESTED IN SELLING? Not only will you receive service levels beyond your expectations, you’ll find that our intimate knowledge of the Scottsdale scene will better guide you on pricing and marketing decisions. We know this community inside and out and know how to properly position YOUR residence to sell.

LOOKING FOR A BUYER? As the original sales team from the inception of Scottsdale Waterfront, we are privy to numerous interested parties in upscale urban living. That allows us to network and proactively contact potential buyers for your unit – a priceless resource in today’s market.

• SignatureaddressatCamelbackandScottsdaleRoads• Sevenboutiquebuildings• Worldclassarchitecture• Twoluxuriouspoolareas• Undergroundsecuredparking• FitnessCentercomingsoon

• CommunityBBQareawithfirepits• AccesstoWaterfrontCanalformilesofwalkingandbikingtrails• SuperbResidencesincludeLive/Work,Lofts,Flats,andTownhomesfeaturingFloor-to-CeilingGlassandSpaciousPrivateDecks

featured propertySafari Drive

FROM $399,500 TO $699,500. MODELS ARE NOW OPEN. Safari Drive is more than just a place to live. It is a mid-rise

urban neighborhood located in the heart of downtown Scottsdale. Across the street you will find famed Fashion Square Mall and you are a quick walk to urban boutiques, cafes and

world class restaurants. Its everything you need surrounded by everything you want.

Homes in Safari Drive offer an unmatched set of features that complement the unique aesthetic of the building and set the

tone for a stylish life.

Investors Are Snatching Up Valley Real EstateTips & Strategies For Success

Gourmet Cuisine For Spring PalatesJ&G Steakhouse’s Corn & Basil Ravioli

9 Signs It’s Spring In The Valley

BABBI [email protected]

602.741.7750

ANGELA [email protected]

602.708.4050

real estate activity in scottsdale waterfrontBldg / Unit Sq. Ft. / Bed / Bath List PriceCURRENTLY FOR SALE7175 # 504 1,439 / 2 / 2 $539,000 7175 # 410 2,265 / 2 / 2.5 $790,000 7181 # 306 2,117 / 2 / 2.5 $979,500 7181 # 506 2,117 / 2 / 2.5 $1,135,000 7181 # 1102 2,041 / 2 / 2.5 $1,425,000 7175 # 1006 2,227 / 2 / 2.5 $1,430,000 7181 # PH1204 3,860 / 3 / 3.5 $2,699,000 7181 # PH1202 3,363 / 3 / 3.5 $2,899,000 7175 # PH5 4,348 / 3 / 3.5 $3,075,000 7175 # PH7 3,940 / 3 / 3.5 $3,400,000 7175 # PH1203 4,056 / 4 / 4.5 $3,600,000

real estate activity in optima camelviewBldg / Unit Sq. Ft. / Bed / Bath List PriceCURRENTLY FOR SALE7117 # 2003 780 / 1 / 1 $319,520 7141 # 1001 1,695 / 3 / 2 $429,950 7147 # 4007 1,301 / 3 / 2 $529,500 7157 # 6003 2,297 / 3 / 2.5 $699,900 7121 # 7007 1,670 / 2 / 2 $844,640 7141 # 7001 2,089 / 3 / 2 $899,000 7147 # 4011 1,922 / 3 / 2 $949,000 7117 # 3006 2,315 / 3 / 3.5 $1,164,000 7167 # 3014 3,680 / 4 / 3.5 $1,450,000 SOLD SOLD PRICE7121 # 4011 1,718 / 3 / 2 $557,000 7131 # 2011 1,877 / 3 / 2 $660,000 7121 # 5008 2,848 / 3 / 2.5 $995,000

real estate activity in safari driveUnit Sq. Ft. / Bed / Bath List PriceCURRENTLY FOR SALE#C3007 1,363 / 2 / 2.5 $399,500#E2001 1,247 / 2 / 2.5 $399,500#C3001 1,558 / 2 / 2.5 $449,500#C3009 1,470 / 2 / 2 $579,500#C1009 1,166 / 1 / 1.5 $379,500SALE PENDING#C4005 1,363 / 2 / 2.5 $399,500#E1005 1,283 / 2 / 2 $449,500#D1001 1,708 / 2 / 2.5 $469,500SOLD SOLD PRICE#C4008 1,505 / 2 / 2.5 $429,500#E1001 1,283 / 2 / 2 $439,500#F1001 2,033 / 3 / 3 $700,000 PH #G5001 2,279 / 3 / 3.5 $1,050,000

Arizona Aloha Festival Tempe Beach Park, March 12th and 13th602.697.1824 I AzAlohaFest.org Experience the rich cultures of the South Pacific Islands with exciting performances, delicious cuisine, hands-on activities and a shopping paradise filled with Hawaiian and Polynesian crafts. Enjoy many performances including Tahitian drummers, Hawaiian hula dancers, and Samoan slap dancers on one of three stages. Kids’ activities include lei making, poi balls and tapa print stamping. Bring your ukulele and flowered shirt, and join in on the fun!

Modern MastersOrpheum Theater, March 25th – 27th602.381.1096 I BalletAz.org Ballet Arizona, the Valley’s premier dance company is known for its innovative and artistic work. Billed as “...mixed classic steps with modern gestures” by The Arizona Republic, this presentation by acclaimed choreographers Ib Andersen and Christopher Wheeldon continues the company’s tradition of inventiveness and commitment to creativity.

Celebration of Fine Art Scottsdale Road south of Loop 101, through March 27th 480.443.7695 I CelebrateArt.com In its 21st year, one of Scottsdale’s most popular events brings artists and art lovers together in a unique assembly where interaction among visitors and artists is the highlight. In over 40,000 square feet of working studios, serious collectors and simple art appreciators can watch artists create their pieces live, ask questions and learn about what inspires their designs. From realistic to impressionistic, abstract to contemporary, there will be art that speaks to your heart. A café on the premises serves light fare and wine tastings are offered on the weekends.

Forks ‘n Corks CityScape, April 7th602.604.0729 I ForksAndCorks.org Want to immerse yourself in the Valley’s premier chef offerings, restaurants, resorts and fine wines? This culinary event draws foodies from all over the country as guests mix and mingle, and indulge in savory samplings. The evening benefits the Arizona Hotel and Restaurant Education Foundations, aiding in scholarships for the industry’s next crop of rising stars.

Copperstate 1000 Field of Dreams Cruise In Tempe Diablo Stadium, April 10th 602.307.2007 I MensArtsCouncil.com The Copperstate 1000 celebrates our culture’s automotive legacy with a four-day, 1,000-mile route through scenic Arizona. The vintage cars participating in the event are showcased for a public viewing and kick-off to the rally. If Barrett-Jackson and Russo & Steele got your blood pumping, you’ll enjoy circulating with the cars and their owners before sitting down for the fanfare-filled European-style departure!

Pat’s RunASU’s Sun Devil Stadium, April 16th 480.621.4074 I PatTillmanFoundation.org Pat Tillman, former ASU and Arizona Cardinal football player, died while serving as an Army Ranger in Afghanistan. In honor of Pat and his #42 Sun Devil jersey, this 4.2-mile run/walk is staged so that all participants finish on the 42-yard line of Sun Devil Stadium. Proceeds support the Foundation’s Military Scholars program. Join over 30,000 participants, volunteers and spectators in a moving celebration and honoring of a true hero.

MARCH | APRIL 2011

SWEET CORN RAVIOLI, BASIL BUTTER AND CHERRY TOMATOES

Featuring J&G Steakhouse at The Phoenician

480.214.8000 | JGSteakhouseScottsdale.com

It has literally never been easier to take advantage of the world’s simplest business principle of buying low and selling high. Particularly right here in the Metropolitan Phoenix market where once-in-a-generation buying opportunities are available in abundance. Buying real estate today is all about working with a team of professionals that have the expertise and knowledge to guide you to success. The real estate you purchase today may be the brightest star in your wealth portfolio. Hang on to those properties until the next market upswing and you can expect some tidy profits to come your way. The key, of course, is knowing the best strategies for investing. Here, we offer some sage advice for getting it right:

DON’T GO IT ALONE Good advice, certainly, for a first-time real estate investor. But perhaps just as critical for seasoned investors as well, since the market has changed so drastically since many have last made an investment in real estate. New lending guidelines, a maze of governmental housing legislation and regulation, the tricky nuances of Short Sale transactions and the purchase of bank-owned properties make today’s real estate landscape more difficult

to maneuver than ever. Before you do anything else, align yourself with a smart and seasoned Realtor. They are your anchor in the storm. Additionally, you can count on your Realtor to connect you with a team of individuals such as a home appraiser, a home inspector, mortgage lender, title and escrow officer, reputable property managers, etc. Your Realtor knows who the best in the business are and their recommendations can keep your purchase on track, saving you valuable time and money.

DON’T FIND A PROPERTY UNTIL YOU DETERMINE A PLAN No matter how good the deal on a property, it doesn’t make any sense to buy it unless it fits into your pre-determined plan. Many investors make the mistake of buying, then figuring out what to do with the property. First and foremost, choose your investment strategy. Are you planning to buy, rehab and flip? Buy and hold? For how long? Two years? Five years? Ten years? Or perhaps you’re looking for an income-producing rental property. How much do you want to net each month? What type of a tenant do you want? Families, singles, college students? Know your plan, then make your move.

BE SURE TO HAVE A “PLAN B”Having just one exit strategy for the property may not be enough. If you’re planning to flip, what if it doesn’t resell? If you’re planning to rent, what if the rental market stalls out? Discuss with your Realtor two or three different options for the property whether it’s a lease-purchase, long-term hold, or property trade with another investor. Then buy a property that can work with your Plan A and Plan B.

LEVERAGING YOUR MONEYOne method of increasing your return is by using leverage from a lender. When you borrow for the majority of the purchase price, your return on investment will be the total cash flow minus the interest paid; much better than when you purchase it with 100% of your own money. With today’s low, low, low interest rates, even investors flush with cash are finding it more lucrative to borrow. On the flip side, paying cash for your investment is another way of using your money for leverage. The hottest deals out there are in high demand with multiple bidders. An all-cash purchase may make your offer stand out above the rest. Discuss your options with a mortgage

lender and your Realtor so you know which strategy works best for you.

BID TO BUYSeems obvious, right? But some would-be buyers lose out on fantastic deals and amazing properties time and time again by offering too low. Again, this is where your trusted Realtor comes in with guidance that can be worth so much to you in time and money. When your Realtor finds a property for you that fits all your criteria, they also know how that property is priced among its competition. Many properties today are distressed and offered at rock-bottom prices. The days of offering 40% below asking price are over. Your Realtor will know which properties are priced where they need to be and which ones aren’t. Bid too low and you’ll miss out.

Raviolis3 lbs. corn kernels3 lbs. charred corn kernels10 oz. minced shallots 1 tsp. Thai chili, minced1/3 Tbs. minced rosemary2 Tbs. sugar 1 Tbs. salt8 oz. butter2 qts. heavy cream Sweat shallots in butter using two rondeaus until tender. Add fresh corn kernels and cook until bright yellow then slowly add cream and cook like a risotto. Once all cream has been added and reduced until kernels are barely above cream, add salt and remove from heat. Puree until smooth. In a large mixing bowl over an ice bath, stir in chili, rosemary, sugar and charred corn and cool.

Tomato Salad10 oz. cherry tomatoes, washed and split3 oz. shallots, peeled and sliced 1/8” thick1 tsp. salt2 Tbs. red wine vinegar2 Tbs. olive oil1/4 tsp. Thai chili, washed and minced

Put tomatoes and shallots in a bowl and sprinkle with salt. Add the vinegar, chili and olive oil and mix well. This salad must be mixed 15 minutes prior to use and is good for one hour at room temperature.

Basil Puree1 lb. fresh basil 16 oz. safflower oil1 tsp. salt

Blanch basil for 10 full seconds in rapidly boiling water. Shock in an ice bath. Squeeze out excess water and add safflower oil and salt, and puree on high speed until bright green. Shock in a bowl over ice.

To ServeSauté shallot in foamy butter and add corn kernels. Sweat out, then add water to almost cover. Mount with butter and emulsify. Season with basil puree and add raviolis which have been poached in simmering water. Sauce should be creamy and brothy, not thick, and should be bright light green. Place in a small bowl and top with the cherry tomatoes, then sprinkle with baby basil.

Cactus League Spring Training As if the nearly $400 million economic impact of the games aren’t enough to get your blood pumping, for many, the siren call of baseball is too tempting to pass up! Especially the mid-week afternoon games where many an employee has been found on a “sick day”! From the crack of the bat, to the cold beer in hand, Spring Training baseball is not just a fun day out, but a rite of spring for so many residents and visitors alike! (CactusLeague.com)

The Flutter of Butterflies The sight of colorful butterflies flitting from flower to flower is especially welcomed in early spring as they begin populating the Valley for the warm months. For a not-to-be-missed experience, head to the Desert Botanical Garden’s spring butterfly exhibit. You’ll marvel at hundreds of butterflies as they interact with visitors in an enclosed garden. (DBG.org)

Golf Courses are PackedEven as the rest of the nation is beginning to thaw out, golf lovers are still flocking to Arizona for our absolutely stellar courses. How about trying out a new course this season, or, bringing a buddy to experience your favorite. (GolfLink.com)

Achoo!While not a welcome sign, it’s one thing that many of us have to suffer with while living in paradise – seasonal allergies. Sniffles, itchy eyes and frequent sneezing are commonplace in the Valley and a definite indication that we’ve entered spring. (SpringAllergies.net)

Al Fresco Dining The clink of wine glasses, the melodic laughter of diners, delicious aromas wafting from patios and sidewalk cafés – if you’re not dining outdoors this time of year, you aren’t living! Spring not only brings us the opportunity to dine al fresco, but also some of the best culinary events in the country. Don’t miss the Scottsdale Culinary Festival in April, it’s a yearly must-do for all. (ScottsdaleCulinaryFestival.org)

Pastels, Halters & Hats You know it’s spring when Valley fashionistas don refreshing warm- weather ensembles. From Easter bonnets to breezy sundresses, the city streets are beautifully dressed this time of year! Check out the newest spring trends at StyleList.com.

Traffic Jams on Hiking TrailsIf you’re a year-round trail user, then you’ll really notice the increase in folks out for a hike this time of year. While your usual trek up Camelback Mountain might involve a little more “excuse me”s than usual, you can smile knowing that people from all over the Valley, and the world, are out enjoying our gorgeous desert trails too. (Trails.com)

Wildflowers Galore From the freeway medians to the desert expanses, lovely wildflowers are making their yearly show. Not only do they beautifully blanket the ground, but cactus flowers are in full bloom too. For some fantastic photo-ops, check out where to see the best wildflower displays at DesertUSA.com.

The Breeze is Blowing and Tails are Wagging That’s right, take a look on your next drive about town. You’ll smile at the sight of so many pooches relishing the weather with their heads poking out of car windows all over the Valley. Dogs are masters at knowing when to appreciate a simple pleasure, so take a cue from them and roll your window down too. Viva spring!

SUCCESSFUL STRATEGIES FOR ANY REAL ESTATE INVESTOR

Although the winter months aren’t too shabby here in the Valley of the Sun, there is just something magical about springtime. It’s when the first warm shafts of sunlight begin beaming down and caressing our bodies with

its radiance. Desert wildlife begins its annual stirrings and the sights and smells of flowers budding, and birds chirping about is enough to make even the most jaded native Arizonan feel lucky to call this place home.

Here, in celebration of a glorious season, are 9 signs of spring in the Valley, and a link to help you enjoy them: