Paradise Valley Weekly 264th Edition - May 9, 2015 The rains in Arizona over the past year have been extraordinary. We've had 5 days with each day providing over the average annual rainfall. This freak occurrence contrasts with the dangerous drought in California. The water reduction mandated by their Governor has now hit Beverly Hills. If you've ever been to Beverly Hills, you know that lush vegetation and manicured gardens are the hallmark of that luxurious enclave. That's all about to change. For the full coverage, read here. While Arizona certainly has to be mindful of its water consumption, we've been in a better position than California for some time. It's counterintuitive that a desert city would be better positioned than a state with so much coastline, but desalination has a long way to go -- San Diego took 15 years to build their plant. Arizona's growth will also lead to water challenges eventually, but for now it looks like we've got a lot more time to plan for our future. California is in the unfortunate position of having to create a water plan in crisis mode. Closings This was an interesting week, only 4 homes closed but the average price was $3.2 million. The lowest price home sold for $2.4 million. For several weeks running now, we're seeing averages over $2 million. Seasonal buyers are choosing to upgrade this year, undoubtedly flush from the stock market rally. Listings There are 13 new home listings this week, ranging from $650kk to $13.5 million.  Two homes get my recommendation for quality and/or value: Superb Remodeled Contemporary  20 foot ceilings, massive glass walls, hickory floors -- this is a wonderful home that has great warmth. Offered at under $2.1 million --> Click here for details Hillside Home with 5 Car Garage This soft contemporary has 6,700 square feet of interior space, a guest house, a pool, and is privately gated. In sum, it offers a lot things that can be difficult to find in a hillside home. Offered at just under $4 million --> Click here for details To see all of this week's new listings please click here. To see everything on the MLS in Paradise Valley please click here. That's all for this week, I'll be back next week with all the latest in Paradise Valley real estate. Thank you, Alex Goldstein iParadiseValley.com (480) 442-7325 p.s. Do you enjoy this newsletter? If so, please share with friends, family, and associates. Anyone can signup free at ParadiseValleyNewsletter.com   (c) 2015 Alex Goldstein PLLC

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