Subject: Paradise Valley Weekly - 9 New Listings, Financing for Luxury Homes

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Back to our regularly scheduled programming...

I touched upon this last week, but I want to reiterate that it feels like seller financing is "back." There's more balance to our market, and with many sellers realizing they won't earn much interest on a pile of cash, they'll contemplate a carryback. This is really helpful because the banks can be difficult when it comes to financing luxury homes. The Wall Street Journal recently profiled the increasing presence of credit unions in the luxury home lending market here. If you are a member of a credit union, you may want to reach out to them to learn about their latest offerings.
Closings
Another big week for the super luxury market with 2 closings over $3 million, continuing our record pace for 2014.

There were $10.2 million in total closings last week on the MLS, ranging from $800k to $3.8 million. The average price was just over $2 million and $411 per square foot. The weighted average year of construction of this week's closings was 1984.

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OFF MLS Hillside Contemporary
The opportunity to see this home before it goes on MLS will soon be going away. If you are someone who appreciates contemporary design, and wants a turn-key home with views this is a must see. This home backs to the Preserve so no homes are above it. Located at the top of Biltmore Mountain Estates, it was meticulously finished to the very highest standards of interior design. No pictures can fully capture the attention to detail, it must be seen. Get an advance look at this home before it goes on the MLS. Offered at just under $2.8 million.
--> Please click here for pictures

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New Listings
There were 9 new listings in this past week, ranging from $725k to $8 million. One home is under contract and the other closed, leaving 7 active listings as of the time I write this newsletter.

The standouts this week:

Soft Contemporary with Views
Sitting on 1.6+ acres with views, this soft contemporary originally built in 1959 has tremendous possibilities. It's been remodeled in the past, but could still use someone with a vision to take it to the next level. Offered at $2 million.

Appealing, Practical Recent Build
This 5 bedroom home was custom built in 2008 to a high level of finish. Wood and stone flooring, custom millwork, and canterra fireplace surrounds. Automated telescoping doors in the family room create indoor/outdoor entertaining spaces with the inclusion of the covered patio. Also has a chef's kitchen, wood paneled office, and wine cellar. Offered at $4 million.

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
SearchParadiseValleyProperties.com
iParadiseValley.com
(480) 442-7325



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Realty One Group, 7975 N Hayden Road #101, Scottsdale, AZ 85258, United States
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