Canadians find hot opportunities in Arizona real estate
ARIZONA...STAY FOR A LIFETIME
It was marriage that prompted Penny Clark to reluctantly leave her native Alberta 12 years ago and move to Arizona’s Valley of the Sun. These days, happy at home in Phoenix, Clark finds herself in the company of increasing numbers of Canadians, many of whom are seeking to capitalize on rare deals on some of America’s most desirable real estate.
Realtor John Sposato of RE/MAX Excalibur in Scottsdale says today’s local market conditions stem from years of investor-fuelled residential construction, especially in the Valley’s outlying areas. The recent sub-prime meltdown caused many overextended homeowners to flee, leaving inventory and tumbling prices in their wakes.
“It was a recipe for disaster for some, but a perfect storm for Canadians, especially with the Canadian dollar having strengthened,” says Sposato. While Sposato says prices in sought-after enclaves such as North Scottsdale and Paradise Valley have not fallen as sharply, in general he says it’s a buyer’s market.
“Right now, luxury homes in North Scottsdale are about eight to 12 per cent lower than this time last year,” he says. “This won’t last forever. People will always want to live here.”
While a Canadian presence here is strong and growing (some 500,000 Canadians visited Arizona last year), deep wealth from New York, Chicago and more recently California and Seattle predominantly sustains this market.
“We live in this little pocket that’s economically different than the rest of the country,” says Clark. “So long as people want to go somewhere warm, they will want to come here.”
Referring to the exclusive Superstition Mountain golf community southeast of Phoenix, sales director Jeff Reich says, “It’s the lifestyle, peaceful surroundings and the people here – these are this community’s top selling points.”
Established 10 years ago, Superstition Mountain is an evolving 927-acre joint project of luxury homebuilder Lyle Anderson and pre-eminent golf course developer Nicklaus Design.
In addition to its twin 18-hole courses being the coveted host of the LPGA Safeway International golf tournament, Superstition Mountain’s elegant, Old World-style residential villages are favoured by “individuals who have the means to enjoy life,” says Reich.
Though most residents live here part time, membership in the country club is nearly universal, contributing to a strong sense of community.
While the deposit for club membership is a cool $15,000 or $100,000 US, depending on privileges, Reich says price points for homes and home sites are significantly better than North Scottsdale. “And we’re only 35 minutes to Sky Harbor Airport and downtown, so you have the best of both worlds – the tranquility of the foothills with close proximity to the city.”
Those seeking the ultimate in contemporary downtown Scottsdale living will likely find the stunning Optima Camelview Village a showstopper. Featuring terraced architecture tastefully clad in warm earth tones and reflective glass, this low-rise condominium development turns heads.
Curb appeal is just part of Optima Camelview Village’s attractiveness, however. Designed to include pace-setting LEED (Leadership in Energy and Environmental Design) standards, this development is state-of-the-art.
Optima architect Todd Kuhlman says, “We meant to
set a benchmark in the appropriateness of design for Scottsdale’s environment. This building responds to its natural environment as well as the indoor-outdoor urban lifestyle desired by residents.”
While overhangs, sandstone walls and other architectural elements ensure privacy, floor-to-ceiling thermally insulated windows integrate each unit’s interior and exterior spaces.
“We wanted the landscape to be a predominant aspect of the architecture,” says Kuhlman. “Each unit’s landscaped garden terrace performs several functions – it affords privacy, esthetic appeal and filtered light and shade for comfortable indoor-outdoor living.”
In accordance with LEED principles, the rooftop terraces also contribute to the building’s green design benefits. While soil is an insulator, the shade created by plants such as Mediterranean Fan sand palms, Palo Verdes, orchid trees, agaves and others reduce heat gain, improving energy efficiency.
Creature comforts also abound, including a 24,000-square-foot health club, featuring a gym, spa, swimming pools and basketball court – all this within walking distance to shops, services and Scottsdale’s arts galleries and entertainment districts.
While Penny Clark and her husband have listed two of their Paradise Valley residences – the realization of a plan to help fund their imminent retirement – they have no plans to leave the area.
“The scenery is amazing – places so peaceful your heart just rests. I love the hiking. And the shopping is great,” says Clark, who adds, “One of the best things about living in Phoenix is that we are only a three-hour flight to the Mexican seaside; two hours north and I can ski; in four hours I can be in San Diego. You can fly nonstop to just about any major point.”
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Also appearing in this report:
Camelot Homes. Award-winning Arizona builder Camelot Homes is offering two easy-living neighbourhoods amid DC Ranch
Optima Camelview Village.
Looking for a downtown Scottsdale condo that matches your passion and respect for the environment?
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