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RE/MAX Collection
Luxury
Homes In Phoenix AZ
Serving the entire Phoenix Metro Area.
Free Phoenix Luxury Home Listings
MLS Search
Welcome to the home of the most
prestigious properties available: The
RE/MAX Collection.
Buying a Phoenix luxury home is
a unique real estate experience requiring special tools
and skills. Phoenix RE/MAX Desert Showcase luxury
home real estate professionals understand that
luxury homebuyers are looking for a home reminiscent of
their own signature style.
Selling your Phoenix luxury property or
finding one that suits your needs can be a time
consuming process, and time is often a luxury most of
our clients don't have. Through our access to a global
referral network and a keen understanding of the
luxury Phoenix real estate market, we help bring
more luxury home buyers and sellers together
Distinctive. Elegant. Luxurious.
The RE/MAX Collection offers properties uniquely suited
to your tastes and lifestyle.
Here you can view exceptional properties for sale around
the world. Elegant waterfront estates, pristine mountain
retreats and gorgeous golf course manors are all just a
few clicks away. With offices in more than 60 countries,
RE/MAX Associates can find your dream property anywhere
in the world.
RE/MAX agents comprise more than half of all Certified
Luxury Home Marketing Specialists (CLHMS) industry wide.
CLHMS agents receive specialized training in meeting the
needs of distinguished clientele. They are experts in
handling elite properties. When working with a RE/MAX
Collection Associate, you are working with one of the
most qualified luxury home specialists in the business.
High demand for Phoenix AZ luxury
homes continues
Players in metropolitan Phoenix's luxury home market
say demand for expensive houses is running high
despite rising prices and scarce land in desirable
neighborhoods.
Traditional luxury enclave Paradise Valley leads
the pack when it comes to highest median price but
values are rising faster in other expensive spots. Among
them: North Scottsdale, Carefree and the Biltmore and
Arcadia areas of Phoenix.
Investors, retired executives, athletes or successful
business types looking for the ultimate in move-up
housing are helping drive sales of new and existing
luxury homes. Their willingness to pay up for a big
house loaded with things such as a home theater, gourmet
kitchen and wine room on a sizable lot is ratcheting up
prices and changing the boundaries of the luxury market.
"It's nuts out there," said Tori Levitt, senior mortgage
consultant with Optimum Financial. "I think it is a
great market for both buyer and seller."
Buyers benefit with low interest rates and interest-only
loans that keep payments down, she said. Sellers, she
said, are enjoying multiple offers and noted that
full-price offers are becoming pass?as most serious
buyers are bidding above the list price to lock up the
deal.
"Values are jumping by the thousands in the span of just
a few months," Levitt said. "Sellers are negating
appraisals out of the contracts and requesting
non-refundable earnest deposits following inspection
periods."
Home values in pricey neighborhoods have been on a tear
in recent years. The median price in the combined new
and resale markets in the Paradise Valley ZIP code
85253 has risen from $687,500 in 1999 to $938,750 in
the first half of this year, a gain of more than 36
percent, according to The Arizona Republic's analysis of
data from Marketon.
That market has cooled somewhat since last year but
nearby luxury ZIPs are hotter than ever. North
Scottsdale's 85255 ZIP, home to trendy communities
such as DC Ranch and Troon, was a strong
perfromer last year but moved into the elite class of
price gainers, up more than 17 percent in the first half
of this year.
The median overall price in the ZIP is $499,250, beaten
only by Paradise Valley, Carefree and neighboring ZIP
85259 that covers the Shea Boulevard corridor on
Scottsdale's eastern boundary.
Some Valley housing pros still define a luxury home as
one that costs at least $1 million. But others say that
$1 million doesn't get you in the door in the best
neighborhoods and insist that luxury really starts at
around $3 million.
The top house deals in metropolitan Phoenix
routinely run in the $2 million range and $3 million
sales aren't unusual. In a recent week this month, all
of the top 10 house sales were $2 million or more, with
two exceeding $6 million and one other of more than $3
million.
"The days of building a $2 million custom home in north
Scottsdale or Paradise Valley are rapidly coming to a
close," said Tony Calvis, a principal of Calvis Wyant
Luxury Homes, a custom builder in Scottsdale.
Commercial real estate developer Russ Scaramella
and his wife, Lori, looked at houses all over the Valley
befroe settling on a DC Ranch home that was under
construction. The couple figures they saved time and
money by buying a speculative, or "spec," house that
Calvis Wyant was working on. They still were able to
pick out the features that would give the house its
final look while bypassing a big chunk of the building
process.
The house cost between $4 million and $5 million and
covers 8,200 square feet. The couple evaluated the house
for its investment potential and knew they were moving
to a neighborhood that is appreciating. But they also
sized it up for its proximity to schools, its views and
as a place to raise their four children.
"We didn't buy it to sell it," Russ Scaramella said. "We
bought it to live in it."
Rising land prices are helping drive up the price of
luxury homes. The wave of teardowns, the practice of
buying and destroying an old house to clear the lot for
a new mansion, is moving beyond Paradise Valley and
Arcadia. Calvis said it's happening more often between
64th Street and Scottsdale Road, mainly between Shea
Boulevard and Cactus Road where buyers are attracted to
houses sitting on acre-sized, or larger, lots. Phoenix's
Central Avenue Corridor also is picking up more teardown
action as buyers who work downtown try to shorten their
commutes.
"The big thing is this just continues to be a great
place to live," Calvis said. "Because of that, I'm very
bullish on the future. . . . We don't have an ocean but
it is pretty close and people in Califronia who have an
ocean don't have a problem coming here."
Glen Creno
The Arizona Republic
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