An ex-plant houses an office with 250 employees in 45,000 square feet.
Let it be known that Moment Factory, a Montreal-based multimedia studio, takes it name seriously. So seriously, in fact, that when the company needed a new office, with room for a production studio and cafeteria, it turned to the former industrial area of the Mile-Ex to scout factory space. There, they found a disused 45,000-square-foot plant, and, with significant help from MU Architecture, transformed it into a vibrant, open work environment. More...
Courtesy of dwell.com
A comprehensive list of must-have items for your next big snow day.
Whether you’re planning a big trip to a ski resort this winter or are simply lucky enough to have a place nearby where you can ski whenever the next big snow day arrives, we’ve put together a practical list for you. From must-haves and innovative items to new favorites, read on to discover the best freeriding ski gear for this winter. More...
Courtesy of the Gessato Blog on dwell.com
I keep a rolling 12-month average of price per foot sale amounts for the general Arcadia area, which includes Arcadia Lite, Lower Arcadia and Biltmore Heights. This month, I noticed a large jump in the price per foot, as seen below...
We have been on a nice, steady and maintainable increase in prices, which is what people should be excited about. The gains in 2005 and 2006 were huge, not healthy and backed by loose lending practices (Watch The Big Short). When I see a jump of over $12 in one month, which is greater than the gains from the last 11 months combined, I get that weird sinking feeling in my belly. I wanted to find out why.
The answer is the mix of sales for the month of October. There were 59 sales in the general Arcadia area, which is typical. The interesting thing is that 25% of the sales were over $1 million and there were 5 sales over $2 million. Of those 5 homes, a few sold for over $400/foot, not so rare, but two sold for per foot prices over $500, the highest at $529. More of more of the new homes sold in Arcadia Proper on large with large square footage are selling for prices over $500 per foot. It will be interesting to see how this average number changes next month.
Enjoy these recent sales around the world from the Sotheby's International Realty Network.
Russ Lyon has a new location! Watch this video for a sneak peek. For a closer look, call me the next time you are at the mall and I will show you around!
Arcadia Proper | Broad Brush Approach | Not accounting for home condition, size or specific location
General Arcadia Area | Broad Brush Approach | Not accounting for home condition, size or specific location
July stats for greater Arcadia area. Home size is up 27% and prices are up 47% from last year at this time...but they are taking 38% longer to sell. Of course, this is VERY general, give me a shout to drill down into your hood.
If we look at Arcadia Proper (Camelback to Indian School, 44th Street to 68th Street), the homes that sold are 9% bigger and cost 13% more than in July 2015. The really surprising stat: they are taking 74% longer to sell, the days on market increased from 81 to 141. What can we attribute to that uptick in marketing time? Most likely sellers have a false sense of their home's value and have listed their property at too high of a price. It might be take several reductions to find the "correct" price and hence, longer days on market.
Here are the sales results for March in Arcadia Proper (44 to 68th, Camelback south to Indian School).
Here are sales figures for the general area.
Tucked away behind lush, mature landscaping, off a private drive sits this elegant 3,900 square-foot, contemporary home. Built in 1986 and never offered for sale previously, buyers will appreciate the clean lines, floor to ceiling windows, dramatic staircase and the classic southwestern touches. The home site is over a half-acre and the backyard features a sizable pool, rolling green grass and large trees. Don’t miss this one-of-a-kind property in an unparalleled central location. 5 bedrooms, 3.5 baths, offered for $898,000.
This home will not go in MLS until March 8th, but can be shown now. To see more photos: http://www.tourfactory.com/idxr1495249
Admit it, most of us are HGTV junkies and feel like we are on a first-name basis with Chip and Joanna! Are you looking for a place to hang some ship-lap or room for a big farm table?
Just because you live in Phoenix doesn't mean you can't enjoy your own fixer-upper. The prices here are a bit higher than in Waco, Texas, but opportunity is knocking!! Most of the Arcadia area's homes were built in the 1950s, but the original ones (best deals, obvious "scrapers") are gobbled up by developers before they even hit the market. The bulk of the homes on the market were updated in the 80s or 90s, but are perfectly livable and comfortable. Some probably even have newer mechanical systems such as air conditioning, pool equipment and maybe even a new sewer line. They are sitting on the market because they are lacking a few of the features popular in new builds: pantries, large master baths, open kitchens. And builders don't want them because there is not enough profit margin for them.
Realtors have a term for these homes: Tweeners. Not original, but not new, these are homes seeking an identity. These homes are your opportunity! You aren't a builder trying to get a new home up as quickly as possible at double the price. You are okay with a slower return on your investment. You are in for the long haul and plan to raise your family here. You want to make changes that suit your family, pick your own paint colors and create a fabulous backyard.
But We Don't Have the Cash for a Remodel!
Most buyers are shopping at the top of their price range. They have worked hard to come up with a 20% down payment or are spinning the proceeds from the sale of their old home into the down payment for their new home. This is where you have to shift your perspective.
Here is how you do it:
- Find a Realtor who understands your MO and can seek out hot areas where remodeled homes or new homes are selling for top dollar.
- Start looking for homes below your price range. We have all heard the adage "buy the worst house on the block" and in the case of Arcadia, look for most dated house on the block. Don't overlook location, this is where the value is! Avoid busy streets, bad school districts and lot sizes that are vastly different from neighboring homes.
- Consider how much it would take to make this your dream home. Now might be the time to find a contractor who can quickly give you an idea of what can and can't be done with the homes you are considering.
- Seek out a lender who does remodel/construction loans. Steve Orsak with EverBank offers such a product. Steve explains, "Buyers and sellers agree on a purchase price, just like a traditional transaction, but the escrow period needs to be lengthened to 60 to 90 days." During this extended escrow, the buyer gets plans and quotes for the changes they would like to make. An appraiser not only puts a value on the existing home, but also takes into consideration the additional value the changes would create. The bank will loan based on the finished product.
- There is a standard closing and construction begins after the close.
Real Life Scenario: I currently have a listing (click here to see pics) perfect for a "value-seeking buyer." It sits on a great street in the "right" part of Arcadia and offers a large lot with a beautiful Camelback Mountain view. It is 3,600 square feet (plenty large enough for most families) and has a 3-car garage (rare for a 1960-build). The home was updated and expanded in the 1990s. The current homeowners invested in two new A/C units, new ductwork, new outside sewer line and a water heater. They know the house lacks a few features that new-build buyers are looking for and have priced the home to account for that. A few floor plan tweaks, some new landscaping and some well-placed trim work would do wonders and add value from the get-go!
Trying to think in terms of the "value-seeking buyer," I have started some of the ground work.
1. I had a plan made of the existing home. It has 4 bedrooms and 3 baths.
2. As a Realtor, I know what features buyers a looking for right now. Using this market knowledge, I sat down with my dream list and a contractor. Without taking off the roof or increasing the square footage, we were able to make most of my dreams a floor plan reality. We increased the bedroom count from 4 to 5 and the bath count from 3 to 4, a huge value add! Here is the revised plan:
From left to right on the plan, here is what we changed:
- Reconfigured the master bath
- Added bathroom access directly from bedroom 2
- Reconfigured that bath to also work as a "powder-plus" type bath
- Transitioned the formal living room (no one really uses those rooms any more) to a formal dining room. Opened that space to the rest of the house by removing some of the fireplace wall
- Reconfigured the kitchen to make it more open to the family room, added an island, a pantry and a breakfast area
- Added a 5th bedroom
- Added ensuite baths to both bedrooms 4 and 5
3. The contractor was able to give me a quick estimate of $300,000 to do these changes. If a buyer were able to purchase the home for $1,295,000, current list price, and put in another $300,000, the buyer would be all-in around $1,600,000. New homes currently under construction in the area are slated to go for well over $2 million. Then, add in your gains from long-term appreciation and you have a winning package. Changes like this will be leaving you saying, "Chip and Joanna who?!"
Wondering what is going in specifically in Arcadia? Here is how transactions shook out in January. Keep in mind, this is very general. Specific price ranges and locations can differ greatly. This is more of a "where we have been and how have we changed" type chart.
This is a fantastic home on a large corner lot on a nice, quiet street. With 4 large bedrooms and 3 bathrooms spread over 3,543 square feet, there is room for everyone. The floor plan is the best of both worlds: a formal living space and then an open concept family room, kitchen and sizable dining space with two sets of french doors leading to the backyard. While the home was built in 1961, it has a rare 3-car garage and a great laundry/mud room, a perfect spot to contain all the kids' stuff! The front yard offers a large grass area with a paver stone patio that features beautiful Camelback Mountain views and a cozy fireplace, a beautiful way to end the day with a glass of wine and watch the sunset! Offered at $1,325,000.
Main take away: Homes are selling for more money this year, but are taking longer to sell.
Don't miss this wonderful family home on a large lot in the heart of Biltmore Heights! Featuring 4 bedrooms, 3 baths and an open family room/kitchen/dining area. Priced at $679,000. Open House, 11-2, Saturday, April 4th.
I am so excited to have the opportunity to list this fantastic home in beautiful Camelback Canyon Estates. The 4-bedroom, 3-bath home has some of the best Camelback Mountain views I have ever seen and huge glass doors that slide open to bring the view right inside. The master bedroom was recently remodeled creating a large walk-in closet, nice sitting area with a fireplace and a modern bathroom with a sizable shower and jetted tub. Over 3,900 square feet also features a diving pool and two office spaces. Priced at $1,100,000. Call me to schedule a showing right away, 602.463.3359.