ArabicChinese (Simplified)EnglishFrenchGermanItalianRussianSpanish

New Developments in Scottsdale AZ

Did you know that Scottsdale/Phoenix is one of the most outdoor active suburbs in all of the United States? Did you know that Scottsdale still has room for growth? Well, I bet you did know that Scottsdale is a high-end, luxurious town. Whether you are looking to move from one side of the Valley to the other, relocating from out of state, or even looking for investment opportunities you can find it all in Scottsdale, plus more! We are going to discuss the 5 MAJOR developments taking place in Scottsdale today!

To start us off, The Scottsdale area is now home to Cavasson! Cavasson is located just north of Loop 101, in the heart of North Scottsdale. Cavasson is a commercial development that will sprawl across 134 ACRES. This beautiful development will feature Commercial opportunities, Hotels, Retail, Restaurants, and more! Recently Cavasson became the home of the Regional Headquarters for Nationwide insurance and the International Headquarters for Choice Hotels. Close proximity to the Scottsdale Airport makes Cavasson a highly desirable location for business professionals who may need to fly in for a day or even the week. Slated to open in October 2022, the beautiful Hilton North Scottsdale hotel will be an anchor in development for Cavasson.

Number two on our list of major developments going on in Scottsdale – Axon Enterprises. Located just South of Loop 101, Axon Enterprises is planning to consolidate FIVE of its locations into one massive National Headquarters. Spending $50,000,000 (yes MILLION) and acquiring 73 acres, Axon Enterprises plans to call Scottsdale home. For those that don’t know what Axon Enterprises specializes in – have you ever heard of tasers or body cams? Axon Enterprises develops these items and more for the military, law enforcement, and civilians. Their business is BOOMING and will be for years to come.

Despite Cavasson and Axon Enterprises taking up 207 acres along Loop 101, there are still 700 ACRES of land held in the Scottsdale Land Trust that has yet to be bought and developed! Hugging both sides of Loop 101, this land won’t last long as 250+ companies are trying to find land to call The Valley “home” for their headquarters. Okay, enough about the available land, let’s get back to the last three MAJOR developments happening in Scottsdale RIGHT NOW!

Major development three will take us further south towards the heart of Scottsdale, however, this development might make us feel more like we’re in VEGAS! Caesar’s Palace is building its first-ever non-gaming, boutique hotel in the heart of Old Town Scottsdale – Caesar’s Republic. Soaring 11 stories into the sky, this boutique hotel will feature 265 rooms and three restaurants, but not just any restaurants. Caesars Republic Scottsdale will feature not one, but TWO Giada De Laurentiis restaurants. Luna by Giada will offer a Romanian, Italian, and Californian-infused menu while offering a high-end experience, whereas, Pronto by Giada will feature Italian-style food and coffee in a casual café atmosphere! The third restaurant is unique on its own – located on the seventh floor – this pool and lounge will be named…any guesses…? SEVEN. With unobstructed views of the beautiful Camelback Mountain, SEVEN is sure to be a hot spot!

 

Enough with the party scene… major development number four on our list brings us to another Old Town property. The Senna House Scottsdale is part of the Curio Collection by Hilton and will feature a boutique-style hotel with 169 rooms and a 10,000 sq. ft pool deck. The Senna House will be your sweet escape from the hustle and bustle of Old Town Scottsdale. Whether it’s lounging at the Sonora Swim Club, venturing over to the shopping district, or grabbing a bite to eat at CALA, a modern Mediterranean restaurant, The Senna House will offer you a beautiful oasis in the middle of the desert. For those of you who know Scottsdale and Old Town history, this hotel will be on the site of the old Don and Charlies restaurant which was filled wall to wall with sports memorabilia! The Senna House is sure to be a big hit in the Old Town area!

 

Last, but certainly not least on our list of Scottsdale developments – The Palmeriae will feature a $2,000,000,000 (yes, BILLION) mega-development! The Palmeriae development, a 122-acre community will be the swankiest, most upscale, luxurious area in all of Scottsdale. Bordering one of the most highly sought-after zip codes in all of The Valley, the Palmeriae will sit in-between Paradise Valley and Scottsdale. Adjacent to the Ritz-Carlton residences and resort, the Palmeraie will feature shops such as Hermes, Chanel, and the first-ever North American Fendi Private Residential enclave. Inside the Fendi building, you will find super exclusive restaurants – how exclusive you may ask? Restaurants featured in the Fendi building will be truly one of a kind as you won’t find another location in the state. Not only will you find restaurants, but also high-end, private residences. And don’t bank on being able to find a residence inside the Fendi Building…. Despite this project still being developed, all Villas, Condos, and Single-Family homes in The Palmeriae have sold….

 

Whether you’re looking to visit or make a permanent move, there is still plenty of Scottsdale that needs to be claimed. In the meantime, we are happy to help answer your questions and make the transition to Scottsdale easier. If you have any questions about what’s going on in Scottsdale or Phoenix, reach out to us at info@kellycookhomes.com, or call us at 480-660-5974.

How You Can Fight Rising Rates

How interest rate buydowns can help you buy a home in this market.

Interest rates are rising, and affordability is dropping. What can you do in today’s market to get the lowest rate possible? I have one secret weapon to help you do this: interest rate buydowns. You might’ve heard about these, but they haven’t been used for a long time. What are they exactly, and how can they help you in this market? 

You can watch the full video above or skip to each section using the timestamps provided:

0:00 — Introducing today’s topic

1:29 — What monthly payment can you afford?

2:01 — How you can use seller concessions as a tool

2:51 — How this could affect your purchase

4:31 — You could get a payment that is similar to renting

5:42 — This can help you hedge against inflation.

6:13 — Wrapping up

If you have any questions, feel free to call us at (480) 227-2028 or send us an email. We‘d love to help.

Free Movie Screening, Food, Drinks, And More

Come join us for a free movie screening, food, drinks, and more!

Click the here and sign up for the FREE movie! We have a very special event coming up that we’re extremely proud to host for both past and prospective clients! It’s an opportunity for us to show you our gratitude for giving us the privilege of working for you and trusting us with your real estate goals. 

We invite you to join us on our client appreciation day on August 13, 2022 at 1:15 pm with check-in starting at 12:30 pm. We will have a private screening of “Top Gun Maverick” at Harkins Theater, Harkins Shea 14 of 7354 Shea Boulevard, Castle, Arizona. It’s a phenomenal movie, and I’m excited to watch it with all of you! Please go there early and check in around 12:30 so we can give you free concessions, such as gift cards, drinks, and snacks to enjoy with your movie. We also have a raffle where you can win a large TV, gift basket, and more.

Thanks for being such amazing supporters and clients of our real estate team. We’re so excited to see you on August 13! As always, call or email us with any questions. We’re always happy to help.

The REAL Cost of Living in Phoenix Arizona

Have you ever wondered what the total cost of living in Phoenix Arizona is and how that compares to other cities across the US? We are going to discuss the cost of living with everything from property taxes to housing, to a night out on the town, to utilities, and everything in between. Phoenix now is the 5th largest metropolitan area in the whole country, and it will continue to grow. We are going to break down several areas that contribute to the cost of living in Phoenix Arizona. The first is housing, which of course is going to be the biggest expense of living in any city. Normally, housing should be about 28%-30% of your total income. Depending on which city you live in, housing expenses will range. Now, let’s rate this on a scale. The national average is always at 100. Phoenix housing comes in at 103.5, which is above the average according to that national scale. What makes up the housing costs? Owning a house or even renting contribute to the overall score for the Phoenix metro area. A few years back, the Phoenix valley ranked in the mid 90s, but with the shifting market and constant growth of the area, our overall score will be ranked higher. Phoenix, Arizona is becoming a destination for retirees and second homeowners.

Utility cost is going to fluctuate dramatically based on how much you use. Gas has risen over the past 20 years for price and most people only use it just for the dryer or even fireplaces in the home. Air conditioning costs will rise drastically in the summertime because of the heat. One AC unit will cover about 2000 Sq. ft of the home, but if you have a two-story, you more than likely will have a couple of AC units. In terms of electricity, APS and SRP are the two main electrical companies, and they have different plans for on-peak and off-peak usage. A very common practice here in Arizona for electricity is not using any electrical components in the house from 3pm-8pm. Home maintenance also contributes to the cost of living in Phoenix Arizona. Most homes in Arizona have a pool and the costs for maintenance will run you anywhere between $80-$100 a month. Having a landscaper is common to have while living here, with most homes having a desert front. There are areas of town where homes do have grass front and depending on what you have in terms of landscaping, the cost will vary. Pest control is the other area of cost that’s important to know. Living in the desert brings a plethora of creepy crawlies and maintaining a constant rhythm to your pest control is important. Lastly, if you preferred to hire a cleaning service to clean your home professional, and let’s say you have a house around 4000 Sq.ft, you’re looking anywhere from 125-200 a month on average to come every two weeks.

Going straight from utilities and housing, property taxes are one of the reasons why you’d want to live in Arizona. Why? Because they are LOW! Arizona is one of the only states in the country with the lowest property taxes overall. For most people, that is a determining factor to where they want to live. On the topic of taxes, Arizona also has a decent sales tax, coming in at 8.3%. Across the board, that is average in the country. There are some items here that do not have a sales tax, such as groceries, medical supplies, etc. The fourth area of discussion for the cost of living in Phoenix Arizona is state income tax. Now there are some states across the country that have zero state income tax. Arizona comes in at a lower rate overall. Our state income tax is 4.5%, which is up to $159,000 for an individual, and $318,000 for a married couple. However, proposition 208 did pass on the ballot in 2020, which means that any income above $318,00 will be taxed 4.5% with an extra 3.5%. That brings the total to 8%. Recently, there has been a lawsuit filed against the state of Arizona stating that the passing of that is illegal. We are waiting to see if the passes officially or not.

Now, let’s go to car expenses, yes, everyone has car expenses. Since the valley is so big and spread out, having a car is a necessity to getting around. The average price per gallon in Phoenix is $2.86 cents, where the national average is $2.89. Now, here’s the kicker. Car registration and vehicle license tax comes in a bit higher in Arizona, which makes up for the lower property taxes. The good thing overall is that after you pay the initial registration of the vehicle, the vehicle license tax amount will go down because cars depreciate over the years. Another car factor you’ll notice in the state of Arizona is that you don’t see many do-it-yourself car washes, with it being more popular in other parts of the country. Pretty much everything is automation, and you’ll see a car wash every few minutes around the valley. With it being so dusty, having a monthly membership for the car wash is a big way you can save money.

To end this all, the overall cost of living in Phoenix Arizona is all around affordable compared to other states. Entertainment, health care, and other areas also contribute but we wanted to cover the more important area of costs. We have so any people contacting us who are either moving to the Scottsdale/Phoenix area and we are so happy to make the transition easier for them. If you have any additional questions about the cost of living in Phoenix Arizona, reach out to us at info@kellycookhomes.com

Phoenix Water Crisis and Arizona’s Sustainability

Arizona is the fastest-growing state in the western part of the United States since 2006. With that comes a lot more population and the question that starts to rise is this; “What’s the visibility and the sustainability of that heading to Arizona’s future?” People question whether the natural resources can sustain the entire population growth that is currently happening. Since people question it, today, we’ll be covering Arizona’s sustainability and the Phoenix water crisis.

From what I’ve heard, everyone has a good outlook on where this city is going for the future, so let’s start with the population. Currently, Arizona is one of the fastest-growing states in the entire country and that’s no secret post covid. Let’s go back to the 1940s. In the 1940s, roughly 500,000 people were living in the entire state. Now, Arizona has 7.6 million people in 2022. That is a huge increase, but the biggest increase decade over decade was from the 50s to the 1960s. The reason why we believe that the biggest attribution to that was the dimension of central air conditioning. Central air was invested before the 50s but didn’t become mainstream and affordable and available in buildings and houses until the late 50s going into the 60s.

Do you want to guess what the number one resource Arizona lacks the most… you guessed it, WATER! That’s why we are discussing the Phoenix water crisis. The water issue here today is the biggest long-term threat that Phoenix and Arizona face, and it more than likely will not be going away anytime soon. For example, in Casa Grande, the water supply is not guaranteed for a certain type of product class whether you own a single-family home or any other type of development. Depending on which city you’re located in, water can be more of a scarce issue. There is a good amount of water now here in Phoenix and almost all the water used in Phoenix gets reclaimed and reused. One major plant release 52 million gallons of water a day into its wetland areas and canal systems. The great thing about those is that they are sitting ready to be used as they go through water treatment plants.

Certain reservoirs are like wetlands where it doubles up as a wetland for animals too. It’s a holding pot to be reused for human beings and then gets recycled back into this whole system. Arizona supplies 23 billion gallons to a nuclear power plant and 16 billion gallons of water are allocated to crops. Only 14% of single-family homes in Phoenix have grass, so that helps cut back on the water more too. The reason why Phoenix only uses two-thirds of the water in the whole state is that they are putting so much technology into water-saving methods and issues and the residents overall are accommodating to understand not to use a surplus of water.

Do you think we’re in a Phoenix water crisis? Watch the video above for more information!

Take Advantage of Your Home’s Equity

Which option is better for you? A HELOC or cash-out refinance?

Which is better for you: a home equity line of credit or a cash-out refinance? Today we want to explain the difference between these two options, when you might use them, and which one is best for your situation. 

You can watch our full explanation in the video above or skip to each topic using the timestamps provided:

0:00 — Introduction

0:58 — Explaining ROE (return on equity)

2:19 — Should you take out a HELOC or do a cash-out refinance? 

3:20 — Explaining HELOCs

4:35 — HELOCs have an adjustable interest rate

6:26 — Explaining cash-out refinances

7:51 — The biggest pro of cash-out refinancing is that it isn’t taxable

8:34 — The interest you pay on a HELOC is tax-deductible if you improve your home

9:46 — Each option has its pros and cons

10:00 — Wrapping up today’s topic

If you have questions or would like to know which option is better for you, please call or email us. We are always willing to help!

What We Do for Buyers in This Market

It’s easy for buyers to become fatigued in a market like this.

Right now, buyers are facing an uphill battle to win the homes they want. This market is very competitive, and there isn’t much inventory. We don’t want our buyers to end up getting fatigued, so I’m sharing the five things we do to help our buyers in the current market. 

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to browse specific topics at your leisure:

0:00 — Introducing today’s topic 

2:30 — No. 1: The Coming Soon Program 

4:35 — No. 2: Relationships 

8:10 — No. 3: Communication 

9:30 — No. 4: We offer bonuses 

10:00 — No. 5: Escalation clause 

11:40 — Wrapping up

If you have any questions, don’t hesitate to reach out to us at (480) 442-9868 or info@kellycookhomes.com. We look forward to hearing from you.

The Real Cost Of Living In Scottsdale Az

Are you wondering how much it costs to live in the golf mecca of the world? Well, I’m glad you asked! Scottsdale Arizona was named the most livable city in the US and we are going to discuss with you what the overall cost of living in Scottsdale Az is. Now, arguably, the number 1 suburb in the greater Phoenix metro area is the city of Scottsdale Arizona. The golf here is AMAZING, from the resort golf courses to desert golf courses to the championship golf course, to one the PGA tour uses at the waste management phoenix open, it is amazing to golf here. What is the cost of living in a city that is pretty cool with its climate, entertainment, and golf, I’m glad you asked! We’ll break down the terms of cost of living rated off a score of 100.

To describe Scottsdale, it’s very rectangular and there are three main sections, North Scottsdale, Central Scottsdale, to South Scottsdale. It’s not very wide but landlocked with surrounded native American land and mountain views. Here are a few fun facts about Scottsdale, the population is 263,000 people and you have a median age of 46. The median age for most cities across the country is 37. I live here in Scottsdale and love that there are a lot of young, successful people, businesses, people, teachers, families, retirees, to small kids, we have it all. It’s a very family-friendly city to live in.

Now let’s break down the overall cost of living in Scottsdale az. Scottsdale comes in at 133, in comparison to other cities in the US. Groceries come in at a rating of 103. It’s a little bit more than the average US city, but here are some further statistics. Milk would turn out to be $3.24 a gallon, bread $3.03 a loaf, eggs $2.52 for a dozen, and chicken, around $4.50 a pound. Depending on where you do your grocery shopping, prices can range! Now let’s talk about restaurants. If you go out to have a meal, a meal at an inexpensive restaurant would range from about $13 for two people, and mid-range, around $77.50 for two people. Likewise, depending on where you go, prices can range. If you have children, this one’s for you! Childcare in Scottsdale is going to run you in the ballpark of $900/month. If you chose to put your kids in an international primary school, those will run you around $4000/month.

Let’s jump over to housing next. The overall cost of living in Scottsdale az for housing comes at a decent amount more in Scottsdale than it does in other parts of the state of Arizona. The state of Arizona’s housing score comes in at 107. Scottsdale comes in at 203 because there is only two percent of land available that’s private owner to be built on. In the future, that will come at a premium. Right now, in the center of Scottsdale, an acre of land is going to run about $950,000 just for the land. If you can build a house and go big enough with it based upon the cost of building, you can easily sell it from $3 million to $4 million. However, if you’re looking to rent, a one-bedroom condo or apartment comes in at $1414 for the monthly cost. The only other suburb that is more expensive when it comes to housing than Scottsdale is the town of Paradise Valley.

Jumping from housing, we’re going to be talking about the cost of utilities. When it comes to housing utilities, electricity on average is $154/month, depending on the size of your house. If you have a good-sized house that has three a/c units with some good-sized ceilings, you’re probably going to be looking in the ballpark of $600/month. With a lot of hot weather comes a lot of A/C usage. Electric companies in Scottsdale allow you to modify your electric payment so that it’s about the same for the whole year. Internet is another important part of utilities. Nowadays, the internet in Scottsdale is going to run you in the ballpark of $78/$80 a month for high-speed internet. There’s Centrelink and cox, which are two major providers in Scottsdale az.

I’ve mentioned that Scottsdale is a very family-friendly area. Scottsdale has 95 schools throughout the city area. Scottsdale unified school district is rated 39% higher than the average state Arizona school. There is a wide range of different options for schools such as charter, private, and public schools. Depending on how many kids you have, your income range may be very important to the overall cost of living in Scottsdale az. The income in Scottsdale is a little higher than most other areas of that the state. The income per capita is $56,800, whereas the US average per capita income is 32,000. The unemployment rate is only 4.7% whereas the US unemployment rate currently is just a little over 6%. The great thing about Scottsdale is the big employment center, especially closer to Old Town.

Whether you’re looking to move to Scottsdale, or you were just wondering what the overall cost of living in Scottsdale was, we are your number 1 resource for Everything Phoenix. Thanks for reading! If you have any additional questions, reach out at info@kellycookhomes.com or call us at 480-442-9868!

Are We Heading for a Recession?

With everything happening in our economy, is a recession coming?

Right now, there seems to be one question on everyone’s mind: “Are we heading for a recession?” People are concerned about inflation, rising interest rates, and global conflict, and it’s hard to blame them. Today I want to discuss the state of our market and predict whether or not we’re heading for a recession. 

You can watch my full prediction in the video above, or skip to each topic using the timestamps provided:

0:00 — Introduction

1:02 — Explaining interest rates and inverted yield curves

2:05 — Our yield curve inverted recently, and people became concerned 

3:48 — The three-month yield curve is not inverted

4:50 — Don’t get caught up in the negativity

5:16 — If we do have a recession, it will be mild

6:03 — The unemployment rate is low, and savings are high

8:03 — Wrapping things up

If you have questions about today’s topic, please call or email me. I am always willing to help.

The REAL Truth About Living in Phoenix

Whether you want to buy a second home or invest in Phoenix real estate, we will be discussing the REAL truth about living in Phoenix! You can search the internet and find all kinds of pros and positive things about phoenix, as well as probably any other city but sometimes people want to let you know about some of the little intricacies that maybe aren’t the best things about that city. Now, let’s get to the dirty little secrets that Phoenix has to offer.

To start our list, if you google the school system in Arizona in terms of public-school systems, it’s not the greatest. It ranked in the bottom 10 most of the time across the country. On the contrary, there will always be good schools too. You would find most of them located in Scottsdale. Whether you chose to put your kids in private or public school, there are plenty of options, anywhere you go! If you are living in Phoenix and don’t have kids, then this won’t concern you.

Here’s an interesting secret about living in Phoenix, there are no basements or lack thereof. I have come across basements in the state, but they are a rare commodity. We are seeing a large majority of people moving into Phoenix from out of state, where basements would be very common. The homes I grew up in always had basements, so it was an interesting transition not having that additional space in the house. The perks about having a basement are that they’re cooler in the summer and provide additional storage. In Arizona, there are different subdivisions and homes in different parts of the cities that have basements. But if you are on the hunt for one for your next home, it’s always a plus to go through a realtor!

Another fact about Phoenix living is that we are the leading state in the country for windshield replacements. One thing I like to say to Arizonians is to make sure your car insurance has free windshield replacements! I’ve been down here for 17 years, and I’ve had my windshield replaced numerous times. We don’t have to deal with snow, which is a plus but because of the rain and living in the desert, there are rocks and pebbles on the roads that get stuck in the tires and shoot right up to hit anyone’s windshield. A plus side to living in Phoenix is that we have a lot of mobile windshield replacement companies that will come out and just do the work for you.

A fifth fact about living in Phoenix, depending on the type of person you are, you may be aware of the Arizona gun laws out there. Arizona is known as the wild wild west and whether you’d want to be involved, it is a common practice for people to carry. By the time you’re 18, you do not need a permit to carry. If you’re between the years of 18 and 20, it has to be an open-carry firearm. If you are 21 or older, you still don’t need a permit to file with the state of Arizona. Depending on where you stand with gun laws, you have the freedom here to car one in your car or even around your waist.

Moving onto number four, for living in Phoenix, the air quality is poor here. As a state, overall, the air is somewhat of poor quality. Phoenix sits down in a valley, which means we are surrounded by mountains. As beautiful as that may be, you must be aware the air does not move a lot. It just sits in the valley, causing potential lung conditions. If you live in Phoenix, the summertime and all the heat play a huge role in the poor air quality. So again, if you have issues with breathing, Arizona may not be the best place to live. A little fact about us, we are ranked in the top ten for the poorest air quality for major cities across the country. Two main things that cause the ranking to be either good or bad are the ozone, which is a kind of smog, and particle pollution.

This one may come as a “shocker”, but the heat is a reason not to move to Arizona for some people. If you do not like the heat, living in Phoenix may be a rough one for you. Everyone knows it’s hot in the desert and some would prefer that. I’m honestly not a huge fan because Nebraska is where I originated, and that heat did not compare to the heat of Arizona. The upside about the heat here is that it’s dry. So, pick and choose your battles and ask yourself what’s way worst, dry heat or wet heat. I would always pick dry heat over the humidity that fills the air in the summer. July and August are the two months that are primarily the hottest here, but outside of that, the weather is phenomenal all year round. People that live in Phoenix are like lizards because their blood will thin, the longer they live here. Remember to stay hydrated!!

Coming in at number two for the real truths about living in Phoenix is the actual propositions and pieces of legislature that Arizona passed. In November of 2020, Proposition 207 was put into place for the passing of recreational marijuana and making it legal and Proposition 208 allows additional revenue to go towards the educational system for the state of Arizona. One thing you’ll notice is that dispensaries have popped up now after the passing of Proposition 207. If you are 21 years older, you can go buy it on any given day. The purchase of marijuana is taxed, so that will be a big revenue driver for the state. As for the additional revenue going to the Arizona schooling systems, that may not always be a good thing. Sometimes the tax-funded dollars don’t make it to the places they need to go because of bureaucracy. Proposition 208 is an additional state income tax on high-income earners. If you are a single person making $250,000 a year or a joint couple making $500,000 a year, there will be an additional 3.% on the already 4.5% state tax rate, coming out at a total of 8% percent.

Lastly, here is the truth or ugly truth about living in Arizona, but Arizona is brown. Yeah, there is just not a lot of green here in Phoenix. If you like a green state, then Arizona is not the right place for you. If you are flying into Sky Harbor Airport, you can see the whole landscape and you’ll notice the lack of green Phoenix has. A while back, I saw a sign from an environmentalist saying he was a big proponent of the western landscape that said that people have to stop associating beauty with only greenery and realize that beauty is also in the west. Most landscaping with homes blends very well with the natural desert and even most homes are a brown or tan color. If you go North towards Prescott and Flagstaff, you’ll find greenery and they have all the normal seasons. In the Phoenix valley, we only really have two seasons.

Thank you for reading about the real truths about living in Phoenix Arizona. I know people have various opinions about what it really like to live in Phoenix, but these are the truth I’ve seen since moving to Phoenix. If you all are looking to move here or even buy a second home, please reach out to us at info@kellycookhomes.com for more information!