Whilst watching the news on a local Phoenix TV Station recently, I came across a human interest story about a couple who were in danger of losing their Phoenix home as they could not afford the payments. In this case, the homeowners had an interest rate of 9%, we will get to that later, and the mortgage broker who had arranged the loan in the first place had told them that would refinance after a few months in order to get lower monthly payments.
Firstly, they did not have great credit, plus they had no down-payment, hence the aforementioned interest rate. Also, given those circumstances, they were gambling that home prices in the Valley of the Sun would go up, of course they didn’t, which would enable them to refinance with a better loan-to-value ratio, they couldn’t. The fact is, they could not really afford the payments in the first place, and were using their meager savings to supplement them until re-financing. It was a house of cards, and it all came tumbling down. Yes, it is sad, but also quite predictable. If you are paying 9% in a 6% world something is not right. If you cannot afford the initial payments don’t take the loan. Do not take an adjustable rate loan with a low teaser start rate if you know you will not be able to afford the payments when the honeymoon period is over. Do not gamble that your home will increase in value in the next 6-12 months. You don’t know! Nobody knows. Some, but not all, lenders are quite willing, and ethically-challenged enough, to tell you anything you want to hear, in order to get you to sign on the dotted line. This is not an Arizona specific problem, it could happen anywhere.
The second case involved a gentleman in California who re-financed his home in order to finance his home-based used car business. The lender failed to supply, as required by California law, the loan documents translated into the language used predominantly in the negotiation. The borrower claimed he was duped, however he did admit an English speaking friend had read and translated the terms of the loan to him. Now he could not afford the payments and was looking to lay off the blame. In this case, I know for a fact that in order to be a car dealer in California, you must (amongst other requirements) have a storage facility for at least four cars, not at your residence. It must be completely separate. My point is, in this case, the borrower was quite willing, and ably abetted by the lender, to circumvent the rules while it suited his agenda. When he could not make the payments, he cried foul.
In both these cases, the borrowers played a little loose with the rules, or ignored early warning signs in pursuit of their goals. The will both certainly pay a price in the future because of bad credit, late payments and maybe even foreclosures.
Studies have shown that many times ethnic minorities end up paying more for their home loans than other folks. What the P.C. police do not tell you is that in most of those cases the victims were taken advantage of by people of the same ethnicity, that is to say unscrupulous people taking advantage of their own. In the end we are responsible for our actions, but remember everything must be in writing. If the broker “said”, then have him put it in writing. If he won’t, well you know the rest.
Tuesday, March 20, 2007
Thursday, March 01, 2007
Property Pricing In a Falling Market
This past weekend, a colleague asked me to join him in a visit to a homeowner who wanted a frank and brutal assessment of his home’s value. As usual, we prepared a bunch of comps, i.e. recently sold homes plus a list of currently available homes. This last list is less helpful, obviously, as the homes have not yet sold, but is somewhat helpful as they will at least indicate an upper price level by virtue of their listing price.
We started out by touring the home and making notes on various maintenance matters that should be rectified to better show the home. Pointers were also given on room staging to make better use of the available space. All in all, a fine home, with a pool, from a respected builder with all the right upgrades in both kitchen and bathrooms.
Them come the moment of truth “How much is it worth?” said Mr. Straight Shooter. “Seven Ninety Nine” I replied. Well, we gave him some smelling salts and when he came around it seemed he thought he was somewhere in the low $900K area.
How come we were so far apart? Well, the main point of his argument was a similar home that seemed to have sold for $915,000 about a year earlier. The problems with that are many. Firstly, a sale a year ago is useless to an appraiser. They prefer to go back 3 months as a rule, or six months if absolutely necessary. Secondly, this particular home sold in a week, for cash, to an out of state buyer. When folks pay cash, some of the checks and balances of a normal transaction are lost i.e. an appraisal and a bank watching over you. Who knows, the price may have included all the furniture and the $100,000 R.V. in the driveway. We do not know. We do know that an appraiser would have many questions regarding the sale of a home that seems to have sold for an excessive amount before an underwriter would allow him to use that comp.
I then pointed out that three similar homes had sold in the mid to high $700K range quite recently. He replied that they just “dumped” them to screw up the neighborhood! Believe you me, this is not the first time I have heard this “conspiracy” theory.
I then pointed out that there were three similar homes listed, but still unsold, in the low $800K range, that have been on the market for between 210 and 270 days. Anyone can list a home at whatever price they like, but if you want to sell a home you have to price it right. It has to be priced so well that a potential buyer in the price range has to see it. In this current market there are a lot less buyers, so they can pick and choose freely.
Finally, he told me that if he priced it too low (i.e. to actually sell) the neighbors would be mad at him. Well, you know what they say. “Misery loves company.”
We started out by touring the home and making notes on various maintenance matters that should be rectified to better show the home. Pointers were also given on room staging to make better use of the available space. All in all, a fine home, with a pool, from a respected builder with all the right upgrades in both kitchen and bathrooms.
Them come the moment of truth “How much is it worth?” said Mr. Straight Shooter. “Seven Ninety Nine” I replied. Well, we gave him some smelling salts and when he came around it seemed he thought he was somewhere in the low $900K area.
How come we were so far apart? Well, the main point of his argument was a similar home that seemed to have sold for $915,000 about a year earlier. The problems with that are many. Firstly, a sale a year ago is useless to an appraiser. They prefer to go back 3 months as a rule, or six months if absolutely necessary. Secondly, this particular home sold in a week, for cash, to an out of state buyer. When folks pay cash, some of the checks and balances of a normal transaction are lost i.e. an appraisal and a bank watching over you. Who knows, the price may have included all the furniture and the $100,000 R.V. in the driveway. We do not know. We do know that an appraiser would have many questions regarding the sale of a home that seems to have sold for an excessive amount before an underwriter would allow him to use that comp.
I then pointed out that three similar homes had sold in the mid to high $700K range quite recently. He replied that they just “dumped” them to screw up the neighborhood! Believe you me, this is not the first time I have heard this “conspiracy” theory.
I then pointed out that there were three similar homes listed, but still unsold, in the low $800K range, that have been on the market for between 210 and 270 days. Anyone can list a home at whatever price they like, but if you want to sell a home you have to price it right. It has to be priced so well that a potential buyer in the price range has to see it. In this current market there are a lot less buyers, so they can pick and choose freely.
Finally, he told me that if he priced it too low (i.e. to actually sell) the neighbors would be mad at him. Well, you know what they say. “Misery loves company.”
Wednesday, January 24, 2007
Is it Equity, or is it Memorex?
What is equity? Well I consulted my trusty dictionary and one of its meanings is “the value of a property in excess of claims against it”. Fair enough, but what prompted me to look it up? Well, I was having a discussion with a fellow real estate professional who was rather proud of himself. He had a client who had bought an “investment” property this past summer, who was having a little trouble re-selling it for a profit after upgrading (and spending too much on) the kitchen. So the agent advised, and the client complied, re-financing to take out the “equity”. Do you see where I am going here? After marketing the home for sale for several months no one had bought the property at its asking price which suggests it may have been overpriced. Let’s be honest, in the overheated and now somewhat cooler, real estate market we are experiencing here in the greater Phoenix metropolitan area, the chances of buying a home in summer of 2006 and flipping it for a profit within 6 months are very slim. So what was wrong with re-financing? Well the problem is that the buyer is releasing equity that does not really exist. Sure, you can find a lender, and a helpful appraiser, to value the home a little on the high side so that they can grant you a loan. In some cases, we will get to those later, such helpfulness borders on the criminal. However, lenders will usually bend over backwards to loan you money, it is their business after all, but they will be the first to cry “foul” when you can no longer make the payments, or the property goes into foreclosure because its value has dipped below the size of the loan. And that is the problem. If there was real equity in the property, it would have sold. Now that you have taken every last penny out of the home, you cannot endure any drop in property values that the Arizona real estate market may suffer in general.
Now, what of the actual criminal activity I mentioned earlier, I hear you cry. As houses stagnate on the market, sellers and agents start to get creative, and that is where the trouble begins. Usually, it ends in a criminal investigation into fraud, and a trip to the “grey-bar hotel”. The current crop of schemes and scams operate broadly as follows. It generally includes a buyer making an offer way above the asking price with the excess to be kicked back either for “repairs” or, in cash, under the table. It will involve, with varying degrees of complicity, a corrupt agent, lender, appraiser and likely title and escrow officer. A duped or criminal buyer, who very often does not even view the property and an unwitting, usually, seller who is unaware of the fraud being perpetrated, but may still be criminally liable.
The key factor in all these, and similar internet “Nigerian type” schemes is greed. Do not let greed blind you to the reality. These are difficult times in Arizona real estate. There are no quick fixes, no get out of jail free cards and no charitable angels paying big prices to get you out of a jam.
Remember, if it walks like a duck….
Now, what of the actual criminal activity I mentioned earlier, I hear you cry. As houses stagnate on the market, sellers and agents start to get creative, and that is where the trouble begins. Usually, it ends in a criminal investigation into fraud, and a trip to the “grey-bar hotel”. The current crop of schemes and scams operate broadly as follows. It generally includes a buyer making an offer way above the asking price with the excess to be kicked back either for “repairs” or, in cash, under the table. It will involve, with varying degrees of complicity, a corrupt agent, lender, appraiser and likely title and escrow officer. A duped or criminal buyer, who very often does not even view the property and an unwitting, usually, seller who is unaware of the fraud being perpetrated, but may still be criminally liable.
The key factor in all these, and similar internet “Nigerian type” schemes is greed. Do not let greed blind you to the reality. These are difficult times in Arizona real estate. There are no quick fixes, no get out of jail free cards and no charitable angels paying big prices to get you out of a jam.
Remember, if it walks like a duck….
Thursday, January 04, 2007
Phoenix Real Estate Predictions for 2007
Good Grief! Another New Year sneaked up on me and took me by surprise. Welcome, 2007, I wonder what you have in store for us all. Hopefully, happiness, good health and prosperity to keep you in the manner to which you have become accustomed. I no longer ask for warm, sunny days as that is a given here in the Valley of the Sun.
So what will the new year bring to the greater Phoenix area real estate market? Of course, no one truly knows the answer to that, but we can make some informed guesses.
Firstly, as a nation, the economy is robust; interest rates remain low as does the unemployment rate, which is all good. The balance of power in Washington D.C. is changing and commentary in that direction is beyond the scope of this blog, but I suspect that for most politicos it will be business as usual.
What effect will all this have on the Phoenix, Scottsdale Metropolitan area? I still see 2007 as a slow year in terms of sales and a relatively flat one in terms of prices. We still need to recover from the massive (over?) building of 2005 and 2006. We have yet to pass on to real end users all those homes that were purchased by “investors” in that period. There are some communities where “investors” own between 50% to 75% of available homes. Believe me, they do not like leaving them vacant, nor do they like renting them out below cost. How long they will actually hold them is a game of steely nerves that we will monitor carefully in 2007. All the while, developers continue to churn out more properties that are able to be priced very competitively with current inventory. Remember, and I have said this before, those same builders that were selling homes, identical to yours, for $150,000 for a profit, three years ago, could do it again today if market forces demand it. Translation: if you can sell that home today for $225,000, then do so; do not squander that equity by being stubborn.
All is not gloom, however. The laws of supply and demand are very much in effect. Buyers have many options both in new and resale homes. Sellers do not have to sell their homes, but if they need to they must price accordingly. Too often, a stubborn seller is merely an expensive “re-owner”. You have that right, but don’t whine about it.
Remember also, now is a great time to trade up. Sure your house may be worth a little less, but the big house up the block is also worth a lot less. The actual cash differentials have closed making it easier to move up. Just be sure to sell your current home first.
Best wishes to all for the New Year.
So what will the new year bring to the greater Phoenix area real estate market? Of course, no one truly knows the answer to that, but we can make some informed guesses.
Firstly, as a nation, the economy is robust; interest rates remain low as does the unemployment rate, which is all good. The balance of power in Washington D.C. is changing and commentary in that direction is beyond the scope of this blog, but I suspect that for most politicos it will be business as usual.
What effect will all this have on the Phoenix, Scottsdale Metropolitan area? I still see 2007 as a slow year in terms of sales and a relatively flat one in terms of prices. We still need to recover from the massive (over?) building of 2005 and 2006. We have yet to pass on to real end users all those homes that were purchased by “investors” in that period. There are some communities where “investors” own between 50% to 75% of available homes. Believe me, they do not like leaving them vacant, nor do they like renting them out below cost. How long they will actually hold them is a game of steely nerves that we will monitor carefully in 2007. All the while, developers continue to churn out more properties that are able to be priced very competitively with current inventory. Remember, and I have said this before, those same builders that were selling homes, identical to yours, for $150,000 for a profit, three years ago, could do it again today if market forces demand it. Translation: if you can sell that home today for $225,000, then do so; do not squander that equity by being stubborn.
All is not gloom, however. The laws of supply and demand are very much in effect. Buyers have many options both in new and resale homes. Sellers do not have to sell their homes, but if they need to they must price accordingly. Too often, a stubborn seller is merely an expensive “re-owner”. You have that right, but don’t whine about it.
Remember also, now is a great time to trade up. Sure your house may be worth a little less, but the big house up the block is also worth a lot less. The actual cash differentials have closed making it easier to move up. Just be sure to sell your current home first.
Best wishes to all for the New Year.
Tuesday, November 28, 2006
Sales Incentives, Do They Work?
Sales incentives are just like us, they come in all shapes and sizes; some work really well and some are virtually worthless. I have said this many times, and regular readers will be aware of this, that price fixes everything. It is my mantra.
Let’s discuss the shapes and sizes. Here in Phoenix, Arizona it is quite common, and increasingly so, in this slow market, for new home builders to offer inducements to both buyers and buyers agents. Incentives to buyers range from upgrades to the home itself, i.e. Granite counter tops or premium appliances, low interest rate or no money down loans, free swimming pools and sometimes free automobiles. Incentives to buyers agents are almost always in the form of higher commissions (Realtors only respond to cash or food) to try to persuade agents to bring their clients round.
The advantage to the seller/builder is obvious. They desire to keep prices up, so that all future sales can remain higher. Offering incentives allows them to not lower prices, but still attract buyers. Which is good for them.
But is it good for the Buyer? Well, please remember that, whatever the incentive, the buyer is the one who is paying for it. I would agree that upgrades to the home itself are a benefit. However, when your agent receives an 8%, as I have seen offered in the greater Phoenix area, you, Mr. and Mrs. Buyer, are paying that commission and paying interest on it, most likely, for the next 30 years with your mortgage. I always have believed that paying much higher commission to an agent as an “inducement” indicated that the buyer is paying too much. I have always questioned the ethics of such an arrangement as an agent is supposed to represent the best interests of a client. However, the choice of either a 3% or 8% commission is bound to sway the thinking process; but to whose benefit?
As to receiving a “free” car. Well, I am not an accountant, nor do I play one on T.V., but I believe there would be tax consequences for a buyer. Also, for a private seller offering such an arrangement, it would also have tax consequences as it affects your tax basis in the home. Please consult your C.P.A.
Having said all that, it is extremely difficult to persuade a builder to drop all this fancy packaging and just lower the price for reasons stated above. Remember, in many communities in the Phoenix area, builders are selling the exact same properties that they could build, market and turn a profit on for the low $100’s three years ago, for the mid $200’s today. Sure, a little of that goes to higher material costs and inflation, but please! They could sell you a property for much less but they have an obvious vested interest to maintain price levels.
Eventually, prices will adjust to correct market levels driven, as much as anything, by falling prices on re-sale homes.
So, before you drive that “free” car, drive a hard bargain first. Happy Haggling!
Let’s discuss the shapes and sizes. Here in Phoenix, Arizona it is quite common, and increasingly so, in this slow market, for new home builders to offer inducements to both buyers and buyers agents. Incentives to buyers range from upgrades to the home itself, i.e. Granite counter tops or premium appliances, low interest rate or no money down loans, free swimming pools and sometimes free automobiles. Incentives to buyers agents are almost always in the form of higher commissions (Realtors only respond to cash or food) to try to persuade agents to bring their clients round.
The advantage to the seller/builder is obvious. They desire to keep prices up, so that all future sales can remain higher. Offering incentives allows them to not lower prices, but still attract buyers. Which is good for them.
But is it good for the Buyer? Well, please remember that, whatever the incentive, the buyer is the one who is paying for it. I would agree that upgrades to the home itself are a benefit. However, when your agent receives an 8%, as I have seen offered in the greater Phoenix area, you, Mr. and Mrs. Buyer, are paying that commission and paying interest on it, most likely, for the next 30 years with your mortgage. I always have believed that paying much higher commission to an agent as an “inducement” indicated that the buyer is paying too much. I have always questioned the ethics of such an arrangement as an agent is supposed to represent the best interests of a client. However, the choice of either a 3% or 8% commission is bound to sway the thinking process; but to whose benefit?
As to receiving a “free” car. Well, I am not an accountant, nor do I play one on T.V., but I believe there would be tax consequences for a buyer. Also, for a private seller offering such an arrangement, it would also have tax consequences as it affects your tax basis in the home. Please consult your C.P.A.
Having said all that, it is extremely difficult to persuade a builder to drop all this fancy packaging and just lower the price for reasons stated above. Remember, in many communities in the Phoenix area, builders are selling the exact same properties that they could build, market and turn a profit on for the low $100’s three years ago, for the mid $200’s today. Sure, a little of that goes to higher material costs and inflation, but please! They could sell you a property for much less but they have an obvious vested interest to maintain price levels.
Eventually, prices will adjust to correct market levels driven, as much as anything, by falling prices on re-sale homes.
So, before you drive that “free” car, drive a hard bargain first. Happy Haggling!
Monday, November 13, 2006
Tips on Selling in a "Down Market", Pitfalls to Avoid
As I have been saying for some time now, prices are not going up here in Phoenix; nor are they flat; they are, in fact, declining. People are beginning to realize this and the latest figures in the Arizona press back up this assertion. Those folks blaming these reports for depressing home prices need to get their heads out of the sand and face reality.
Having said all that, I am definitely getting the feeling that buyers are beginning to come out of their shells here in the Valley of the Sun. With prices down considerably from the peak, but interest rates still at almost historical lows, buyers, quite rightly, feel that this is a good time to buy. However, they are in a strong position. Unlike recent years, they have plenty of inventory to view, can take their time making their selection, and can expect reasonable sellers to work with them on price and terms. Notice I said reasonable. Too many homes on the market today are so massively over-priced, and the owners are so ensconced in cloud cuckoo land, that they are not really for sale. Oftentimes, one of these owners of overpriced homes will tell you “Hey it gets shown a couple of times a week….” What they do not realize is that shrewd agents are showing the overpriced “turkey” in order to sell the fairly priced home down the same Arizona street.
What is a seller to do? Well, if you have to sell your home, you have to price it accordingly. “Price fixes everything” has always been my mantra and always will be. If you want to sell your Phoenix area home the list price has to be in what I call the “Top-Ten” of lowest prices. In order to sell a home, it has to be shown. It will not get shown, at all, if the price is unreasonable. If you want to sell your home make sure, at the minimum, that you have as many clear photos as possible. You should have a virtual tour. If your agent has neither of these things, fire him or her. Buyers, mostly on the internet, skip over properties without visual representation. You cannot afford to be skipped over.
Finally, in this type of market, watch out for the bottom-feeders. There are people, and agents, who churn out junk-offers by the score at an arbitrary 70-75% of the asking price in the hope of finding desperate sellers. Often, even if you agreed to their low price, they just want to tie up your property until they can find a buyer to sell it to, at a profit, of course.
Also, beware the offers that are 30-35% over asking price in which you kick back excess funds, over appraised value, to the buyer. These almost always involve bank fraud, corrupt appraisers and an excellent chance of a trip to the hoosegow.
Don’t let greed or desperation blind you.
Having said all that, I am definitely getting the feeling that buyers are beginning to come out of their shells here in the Valley of the Sun. With prices down considerably from the peak, but interest rates still at almost historical lows, buyers, quite rightly, feel that this is a good time to buy. However, they are in a strong position. Unlike recent years, they have plenty of inventory to view, can take their time making their selection, and can expect reasonable sellers to work with them on price and terms. Notice I said reasonable. Too many homes on the market today are so massively over-priced, and the owners are so ensconced in cloud cuckoo land, that they are not really for sale. Oftentimes, one of these owners of overpriced homes will tell you “Hey it gets shown a couple of times a week….” What they do not realize is that shrewd agents are showing the overpriced “turkey” in order to sell the fairly priced home down the same Arizona street.
What is a seller to do? Well, if you have to sell your home, you have to price it accordingly. “Price fixes everything” has always been my mantra and always will be. If you want to sell your Phoenix area home the list price has to be in what I call the “Top-Ten” of lowest prices. In order to sell a home, it has to be shown. It will not get shown, at all, if the price is unreasonable. If you want to sell your home make sure, at the minimum, that you have as many clear photos as possible. You should have a virtual tour. If your agent has neither of these things, fire him or her. Buyers, mostly on the internet, skip over properties without visual representation. You cannot afford to be skipped over.
Finally, in this type of market, watch out for the bottom-feeders. There are people, and agents, who churn out junk-offers by the score at an arbitrary 70-75% of the asking price in the hope of finding desperate sellers. Often, even if you agreed to their low price, they just want to tie up your property until they can find a buyer to sell it to, at a profit, of course.
Also, beware the offers that are 30-35% over asking price in which you kick back excess funds, over appraised value, to the buyer. These almost always involve bank fraud, corrupt appraisers and an excellent chance of a trip to the hoosegow.
Don’t let greed or desperation blind you.
Saturday, October 21, 2006
Anthem Arizona, A Terrific Place To Call Home
Many times over the years, a new subdivision is created with little or no real thought about the infrastructure required to support the newly-created community. Well, this is categorically not the case with Anthem. Everything you need is there, or on its way, and then some.
Created by Dell-Webb, this Arizona town on the outskirts of Phoenix offers homes to suit all budgets; from the mid to low $200K all the way up to “oh my goodness gracious.” There is something for everyone. From a young family just starting out to a retired couple looking for space to entertain the grand-kids, from time to time, Anthem has you covered. All of this, plus an easy commute via I-17 to Phoenix if that is where work takes you.
Also, for the family, there is the lure of brand new schools, with excellent sport facilities, libraries and, in some cases, theatre complexes to help keep your children motivated and actively involved.
Plus, the recreation facilities are world class. The park-like, open space communal area with duck-ponds and waterfalls are an absolute joy to behold. Early one evening, recently, I saw a father with his young son and daughter doing a little fishing. What better way to unwind after a long day of work, than to kick back with your children and exchange stories of your day, whilst teaching a worm to swim at the end of a fishing pole? Remember, though, “catch and release” only! Arizona living at its finest.
There is also a model railroad that runs through the park offering rides to one and all.
For the more energetic amongst us, the diversions are endless, offering basketball and tennis courts plus a gymnasium complex with 2 swimming pools that are the envy of the surrounding Arizona communities.
The huge gym is stocked with up-to-the-minute equipment, including stationary bikes, treadmills, free weights; you name it, it’s got it! Aerobic classes are offered and there is also a rock-climbing wall for those days when you don’t have enough time to conquer Everest.
Then there are the pools. An enormous regular pool for swimming and an even larger one with water slides and water features worthy of a water park anywhere in the world. Watch out for the enormous bucket in the air that fills up and then overturns and splashes down on everyone. Great fun for all kids aged from 8 to 80. Lifeguards are in attendance but please, be careful out there.
Anthem, like much of the Valley of the Sun, has golf courses that rival the finest that Scottsdale and Phoenix have to offer.
Everything is right here in Anthem including Wal-Mart, Home Depot and many other nationally renowned “Big Box” stores. There is also an outlet mall for those canny shoppers among us who like saving money. Plenty of good eating to be found from upscale local restaurants to well known fast-food stores.
In all my years of selling real estate, I have rarely seen such a well planned and executed community. Anthem AZ is truly a great place to start or raise a family. What are you waiting for?
Created by Dell-Webb, this Arizona town on the outskirts of Phoenix offers homes to suit all budgets; from the mid to low $200K all the way up to “oh my goodness gracious.” There is something for everyone. From a young family just starting out to a retired couple looking for space to entertain the grand-kids, from time to time, Anthem has you covered. All of this, plus an easy commute via I-17 to Phoenix if that is where work takes you.
Also, for the family, there is the lure of brand new schools, with excellent sport facilities, libraries and, in some cases, theatre complexes to help keep your children motivated and actively involved.
Plus, the recreation facilities are world class. The park-like, open space communal area with duck-ponds and waterfalls are an absolute joy to behold. Early one evening, recently, I saw a father with his young son and daughter doing a little fishing. What better way to unwind after a long day of work, than to kick back with your children and exchange stories of your day, whilst teaching a worm to swim at the end of a fishing pole? Remember, though, “catch and release” only! Arizona living at its finest.
There is also a model railroad that runs through the park offering rides to one and all.
For the more energetic amongst us, the diversions are endless, offering basketball and tennis courts plus a gymnasium complex with 2 swimming pools that are the envy of the surrounding Arizona communities.
The huge gym is stocked with up-to-the-minute equipment, including stationary bikes, treadmills, free weights; you name it, it’s got it! Aerobic classes are offered and there is also a rock-climbing wall for those days when you don’t have enough time to conquer Everest.
Then there are the pools. An enormous regular pool for swimming and an even larger one with water slides and water features worthy of a water park anywhere in the world. Watch out for the enormous bucket in the air that fills up and then overturns and splashes down on everyone. Great fun for all kids aged from 8 to 80. Lifeguards are in attendance but please, be careful out there.
Anthem, like much of the Valley of the Sun, has golf courses that rival the finest that Scottsdale and Phoenix have to offer.
Everything is right here in Anthem including Wal-Mart, Home Depot and many other nationally renowned “Big Box” stores. There is also an outlet mall for those canny shoppers among us who like saving money. Plenty of good eating to be found from upscale local restaurants to well known fast-food stores.
In all my years of selling real estate, I have rarely seen such a well planned and executed community. Anthem AZ is truly a great place to start or raise a family. What are you waiting for?
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