We recently spent a week in the Valley and had the opportunity to look at some of the trends that are occurring in real estate.
The most noticeable trend, of course, is the lack luster velocity of real estate sales; however, the other noticeable trend is working and playing where you live.
Two major undertakings caught our eye, and if you are curious, they are worth a look.
City North is located near the corner of 56th Street and Deer Valley Road, which is adjacent to the Desert Ridge shopping complex. A friend who worked on phase one brought this community to my attention.
What City North offers is a pedestrian-friendly environment that has a mix of retail, restaurant, residential, office and civic and cultural activities.
Phase one is completed, and it is evident that this will be a dynamic community. Be sure to stop at the sales center for a peek at the model of the community.
The other area is Kierland. This community is probably the Valley original and a small scale of what City North will become.
Kierland Commons is often mistaken to be in Scottsdale, however, it is in Phoenix and is located at the corner of Scottsdale and Greenway Parkway. This urban lifestyle living is obviously taking hold as loft condominiums in Kierland range from $600,000 to over $2,000,000.
Across the street is a new community under construction, the Scottsdale Quarter, that will enhance the appeal of the area adding more shopping, restaurants and condominiums.
So why would we write about two areas in the Valley in a Rim Country real estate column?
These types of Valley communities are causing a trend in outlying communities like ours. The trend we have observed is that many people moving to our area, or who have been residents for some time, are looking for second homes in the Valley, and these urban communities seem to be at the top of their list as they offer a contrast to our rural style of living.
They also like the condominium lifestyle where they can lock and leave. I know of at least 20 Rim Country residents who purchased Valley second homes in the last two years. They have no intention of leaving our perfect part of the world, but the change of scenery helps them appreciate where we live even more.
Ray Pugel is a designated broker with Coldwell Banker Bishop Realty. Contact him at (928) 474-2216.