Hope you are enjoying the first days of Spring and welcome to many new readers.

It's go time. Arizona is in full bloom. Spring training was great. Business in general is doing well. Real estate is having it's best month in a while. The stats are all looking up. More to follow in the market stats section.

Just Listed | Paradise Valley Dave Hansen Classic

Welcome to your dream home in Tatum Canyon, Paradise Valley, where luxury living meets breathtaking natural beauty. Nestled on a sun-drenched hillside, this exquisite estate offers panoramic vistas reminiscent of a Santa Barbara retreat. Crafted by renowned luxury homebuilder Dave Hansen, this 5214 sqft masterpiece is a testament to meticulous craftsmanship and refined taste. As you step inside, you're greeted by a sense of grandeur, with marvelous views beckoning from every corner. 3 oversized car garage with a fantastic moderate driveway for hillside.

MLS Link: https://www.flexmls.com/link.html?1tqb39ptsldb,12,1
4613 E Desert Park Pl, Paradise Valley 85253 | Offered at $4,200,000 | Call Marta to view 480 274 5710

Just Sold | Scottsdale Golf Course Beauty

The previous highest sale in Los Abrigados was $1,104,000. A new record has been set.

MLS Link: https://www.flexmls.com/link.html?1tqb34un1nfi,12,1
8367 E Cactus Wren Rd, Scottsdale 85250 | Closed at $1,450,000

Market Stats

Cromford Repot Daily Observations - Mar 19 - Currently the listing success rate is hovering around 80%. This is higher than it has been since last September and is a reasonably good reading. The long-term average is around 70% these days, but it used to be closer to 65%.

It is a little higher than this time last year and means that 4 out of 5 listings end with a successful close rather than getting cancelled or expiring.

If you are looking for good news, this is in that category.

Our Take

The market from a boots on the ground perspective feels optimistic. The stats are not 100% following what we are seing yet. But all stats are lagging indicators.

A quick couple of thoughts on the news coverage regarding the National Association of Realtors settlement.

Firstly, it's very interesting to see how the media cover an issue you understand very deeply. The headlines were far more clickbait than substance.

Second, we think change is good. The real estate brokerage industry does need a health dose of change. Some dead wood needs to be cut. We do not believe this settlement will bring about that meaningful change. In fact while the goal of the consumers bringing the lawsuit was increased transparency the current terms of the settlement will reduce transparency.

Here's a fairly reasonable summary of the settlement. Although this also contains some inaccuracies, but definitely more accurate than the CNN take. Their latest take is more nuanced but still mainly incorrect.

Coming Soon & Pocket Listings

We have some coming soon listings in Paradise Valley, Scottsdale, Biltmore and North Scottsdale. But in this market things go fast so if you are looking be sure to let us know :-)

Specifically we have some homes in these communities that are ready to see today - Paradise Valley | Estancia | Silverleaf | Mirabel Club.

We also have an opportunity to build the most premier Mummy mountain / Camelback views home. Delivery would likely be 2026/2027. Final home would be just over 7,000 square feet. Build and acquisition costs are $20 million+. Literally a top of the mountain one off opportunity.

Interiors

13 Southwestern designers and architects via Architectural Digest.

How to find your own design style.

Luxury furniture brands for your next design.

In The Neighborhood

Scottsdale seeking resident input on short term rentals.

Fender guitar moving HQ from Scottsdale to PV mall.

You can buy Judy Garland's Bel-Air estate.
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That's it folks. Have a great weekend!