NAHB: Builder Sentiment Improves in August

Buyer Beware: 4 Common Problems Home Sellers Try to HideAccording to the National Association of Home Builders, August home builder sentiment met analyst expectations and rose by two points to a reading of 60; July’s reading was revised downward to 58. Two out of three components used in calculating the Home Builder Index were higher. Builder sentiment concerning current housing conditions rose two points to 65. Builders were also more confident about housing market conditions within the next six months; August’s reading was one point higher at 56. Builders were less confident about buyer traffic in new housing developments. August’s reading slipped one point to 44.

Any reading above 50 indicates that a majority of builders surveyed were confident in market conditions; readings for buyer traffic have not reached 50 since 2005.

Building More Homes Seen as Solution to Persistent Home Shortage

Shortages of available homes have caused demand for homes to surge in recent months. As demand increases, home prices rise. This thwarts positive conditions including low mortgage rates and recent reports of rebounding job creation. If builder confidence rises, it follows that builders will expand construction, but builders also cited factors including regulatory obstacles, a lack of qualified labor and shortages of land available for development as ongoing concerns.

Regional Confidence Readings Mixed

Regional readings for builder confidence were mixed; builder confidence in the Northeast increased by two points to 41. In the South, builder confidence also rose two points to 63. Builder sentiment in the West was unchanged at 69 while builder sentiment in the Midwest fell two points to 55.

Although growing builder confidence considered positive in light of home shortages, analysts said that single-family housing starts remain well below historical levels.

In related news, NAHB reported that readings for the 55 plus housing market index increased by one point to 57 as compared to the first quarter reading and was unchanged as compared to the second quarter of 2015. As with the general HMI, any reading over 50 indicates that more builders than fewer are confident in market conditions for 55 plus housing markets.

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37200 N Cave Creek Road Unit 1009 Scottsdale, AZ 85262

$3,700,000
3 Beds
3.5 Baths
4,556 SqFt
Status Active
MLS # 6564876
Property Type Single Family Residence
Price Type --
Desert Mountain GOLF Membership is available with this home. Stunning Cullum home at the Seven community at Desert Mountain. Light and bright great room floor plan that features three en-suites , additional family room and powder room. Expansive kitchen with large center island and is equipped with Subzero, Wolf and Cove appliances. A modern beautiful fireplace is a focal point in the great room. Expansive multi slide glass doors lead to a large covered patio. Enjoy great views of Renegade hole number 13, majestic mountains, and fabulous sunsets. Walking distance to the Seven clubhouse to enjoy dining, bocce ball, and the fabulous par 3 golf course. For more than three decades, Desert Mountain has been providing its Members with one of the world's finest year-round golf and lifestyle experiences. The Club's master plan was conceptualized by Taliesin Associated Architects, a firm founded by the legendary Frank Lloyd Wright, and designed to subtly harmonize with the magnificent natural landscape that surrounds the illustrious 8,300-acre property located in North Scottsdale Arizona. The Desert Mountain Club features Seven golf courses, seven clubhouses and nine different dining options from formal to casual. The Sonoran Fitness center and Spa offers the newest equipment and is staffed with top wellness and sports professionals, the expansive Fitness Center has everything you need for a total body workout, from muscle conditioning and flexibility to private personal training, group classes, and on-site physical therapy. The beautifully appointed Spa offers a wide range of services, including therapeutic massages, repairing facials, haircuts, color, and even acupuncture treatments.The Tennis Complex features five state-of-the-art Har-Tru green clay tennis courts, three fast-playing hard courts, and a spectacular stadium grass court. Members can enjoy spirited competition and socializing on six pickle ball courts. In addition Desert Mountain has a private trail system that borders the Tonto National forest and encompasses 20 miles of panoramic desert scenery and lush mountain flora. By two feet or two wheels, explore the eastern slope of the Continental Mountains, enjoy views for miles from the 4,100-foot summit that overlooks landmarks like Skull Mesa, Elephant Butte, and Harquahala Peak. Desert Mountain is proud to be distinguished by the Platinum Clubs® of America, considered as the most respected recognition in the private club industry. Every two years, clubs are judged for their history, ability to attract and retain exceptional members, and the experience delivered. Criteria include recognition, excellence in amenities and facilities, staff and professional services, quality and commitment of membership, governance and prudent fiscal management, adapting to changing times, and overall experience. Desert Mountain Club currently ranks #14 in the country on the 2021-2022 list, and is the highest ranking club in Arizona in the Country Club category.

10755 E Cholla Lane Scottsdale, AZ 85259

$3,700,000
5 Beds
4.5 Baths
5,363 SqFt
Status Active
MLS # 6760257
Property Type Single Family Residence
Price Type --
Beautifully renovated 5,300+ sqft estate in the Cactus Corridor on over an acre! This truly move in ready home features both cosmetic and mechanical upgrades. All new Trane AC units, all new energy efficient windows, new multi slide doors, new pool equipment, new pebble Tec, and fresh landscaping to name a few. The lavish interior includes features like real wood floors, soaring ceilings, new kitchen with high end appliances and custom cabinetry, and a fully stoked prep kitchen. The primary suite is truly a retreat with amenities like its own private sitting room, a fireplace, a luxurious bath, and its own laundry room. The primary bath offers sink sinks and a makeup vanity, a tiled shower with multiple shower heads and body jets, and a custom closet. This is truly a must see!

8635 N Tatum Boulevard Paradise Valley, AZ 85253

$3,700,000
6 Beds
4.5 Baths
4,817 SqFt
Status Active
MLS # 6774272
Property Type Single Family Residence
Price Type --
Breathtaking Paradise Valley retreat that has been meticulously transformed into a modern sanctuary, epitomizing the essence of contemporary elegance. This residence has undergone an extensive renovation, seamlessly blending sophistication with the allure of Arizona's outdoor lifestyle. The home is designed to captivate with its emphasis on clean lines, abundant natural light, and a layout crafted to optimize the joy of indoor/outdoor living. The property boasts a newly added heated pool, spa, and a pristine white travertine deck, creating a picturesque oasis perfect for entertaining as well as a new roof added in 2023. Meticulously landscaped surroundings, which include a barbecue area, hardscaping, in-ground trampoline, bocce ball, and a putting green. Modernized interior includes custom artistic wall coverings, sensational matte black flat-panel kitchen cabinets with warm wood elements and stainless steel appliances along with no grout lines metallic stained concrete floors. Primary bedroom with exit to relaxing spa is an utopian escape with zen spa-like bathroom and grand closet. Total 6 bedrooms 4.5 bathrooms plus an office, 3 car garage with Tesla electric charger, RV gate, plus plenty of additional parking. Straight line 10 miles to Phoenix Sky Harbor Airport. Across the street from hiking/biking trail! Perfect for Airbnb or VRBO! NO HOA! No short-term rental restrictions in CC&R's. Can be sold turnkey!

55 Cibola Drive Sedona, AZ 86336

$3,700,000
3 Beds
2 Baths
3,577 SqFt
Status Active
MLS # 6781179
Property Type Single Family Residence
Price Type --
A Wine Enthusiast's Dream Home in Sedona Welcome to your dream sanctuary in Sedona, where every detail caters to the consummate wine enthusiast. This exceptional estate boasts 3,577 square feet of thoughtfully designed living space, elevated to capture breathtaking 360-degree views that are simply unmatched. The sellers have raised the roof to maximize the vistas, complemented by a sprawling 1,408-square-foot main deck and a 329-square-foot covered sky deck, creating an unparalleled indoor and outdoor living experience. The great room, expansive yet cozy, features a stunning beehive fireplace adorned with a unique Alligator Juniper mantle, making it the perfect gathering spot. Retreat to the luxurious primary suite, where you'll enjoy direct access to your private outdoor hot tub, allowing for peaceful evenings under the stars. The spa-like bath is a true oasis, adorned with exquisite Lucy Paradise stained glass that adds a touch of artistry to your everyday routine. This estate also includes two additional guest bedrooms and a versatile flex room, ensuring ample space for relaxation and rejuvenation. Nestled alongside National Forest, the property offers a serene and private environment, perfect for those seeking respite from the world. A hidden gem of this home is the detached historic wine tasting room and cellar, celebrated by Wine Spectator for its design and functionality. Here, you can entertain guests in stylewhether indoors or outdoorsand access your perfectly temperature-controlled cellar featuring an impressive selection of 1,600 bottles. This Sedona residence is not just a home; it's a true bucket list destination, inviting you to indulge in the finest wine experiences amidst the natural beauty of the red rocks. Don't miss the opportunity to own a piece of paradise tailored for a lifestyle of elegance and enjoyment.

5905 E Camelback Road Phoenix, AZ 85018

$3,699,999
5 Beds
5 Baths
4,328 SqFt
Status Active
MLS # 6723071
Property Type Single Family Residence
Price Type --
Welcome to an exquisite estate nestled in the heart of Phoenix's prestigious Arcadia neighborhood. This luxurious residence offers an unparalleled blend of elegance, comfort, and modern amenities, making it the perfect retreat for discerning buyers. Ideally situated at the base of Camelback Mountain, this property boasts breathtaking mountain views and provides direct secured ally access to Arcadia's hiking trails, walking paths and bicycle rides. This expansive home features 5 spacious bedrooms and 5 elegantly designed bathrooms, ensuring ample space for family and guests. The open-concept floor plan with 3643 sqft in the main house includes a grand living room with soaring 12ft ceilings and cozy fireplace, a formal dining area, stunning hardwood floor, and a 685 sqft fully equipped kitchen in the guest house with a huge steam shower all designed for seamless entertaining. The gourmet kitchen is a chef's dream, complete with high-end Wolf and Viking stainless steel appliances, custom cabinetry, a large center island, and stunning porcelain countertops. The luxurious master suite is a private oasis featuring a spa-like ensuite bathroom with a soaking tub, a separate shower, dual vanities, and a huge walk-in closet. Step outside to your private backyard paradise, featuring a sparkling pool & spa, a covered patio with an outdoor kitchen, and meticulously landscaped grounds, perfect for relaxation and entertaining. This home also includes a home office/den, 3-car garage, RV Parking, security gate with intercom system, all TV appliances and state-of-the-art smart home technology for modern convenience and security. Experience the epitome of luxury living, where every detail has been thoughtfully crafted to offer the ultimate in comfort and style. Come and discover all that this remarkable property has to offer.

20 Sierra Roja Circle Sedona, AZ 86351

$3,699,900
5 Beds
5 Baths
5,355 SqFt
Status Active
MLS # 6743613
Property Type Single Family Residence
Price Type --
2.09 Acre Compound/Getaway Retreat and/or Incredible Investment Opportunity minutes away from Red Rock Crossing! DEAD-ON views of the iconic Cathedral Rock upon entering property. EXTENSIVE2024 REMODEL of this Craig Stromme masterpiece features a Stunning transformation of rustic meets contemporary with subtle hints of the Southwest. SINGLE LEVEL LIVING perfect for Multi-generational living and/ or work from home with multiple options for office/home gym/yoga/game room/bar/ art studio. AWESOME RED ROCK VIEWS from every room & from the open exterior center Courtyard. IMPRESSIVE Interior of main home boasts10ft ceilings adorned by multiple glass sliders and windows create an inviting, open, bright and airy living space. Coffered ceilings with dazzling chandeliers adorn the SPACIOUS dining room and kitchen. Create your favorite Culinary delights in the HUGE chef's kitchen boasting white quartz countertops, massive center island with built-in Smart convection/microwave combo and two beverage fridges, White Café Appliances, including commercial grade 6-burner propane cooktop with brushed copper hardware, soft close cabinet doors, farmhouse sink, lower level cabinets w/ pullouts and two breakfast bar/serving areas. Primary bedroom suite has HUGE bath including elongated walk-in tiled shower with two oversized rain shower heads and two hand-held wands, soaking tub, dual vanities with Oversized Smart mirror. Continue down the Grand Hallway and enjoy your art collection displayed in a custom niche cluster on the way to two cozy guest bedrooms with shared bath. Attached Guest Casita across courtyard includes spacious ensuite bedroom w/ separate entrance, a HUGE Studio/Game Room/Office Area with large wet bar w/ dual beverage fridges and an adjoining Guest Suite with kitchenette/dining combo, perfect for a live in caretaker/property staff with separate entrance. Two HUGE 600 sf garages with 12 ft ceilings with one side open to the courtyard. Use one for vehicles and the other as an open-air shaded relaxation area complete with Red Rock Views OR put in a pickelball court! Plenty of space for all your toys and acreage to build an oversized RV Garage and/or shelter paddocks for horses. An Entertainer's Dream Home, take the party outside for good times in the spacious 2,640 sf courtyard complete with heated and lighted lap pool, adjoining hot tub, sunken sitting area with firepit and trellised BBQ Station with SS Blaze Grill w/ prep sink, built-in fridge and storage. Prime Location offers a hiker's paradise with Red Rock Crossing and Baldwin Trail just minutes away. Enjoy world-class golf, shops, dining, galleries, and amenities within a two-minute drive. This extraordinary property offers a unique blend of luxury, functionality, and natural beauty. Schedule your showing today to explore this magnificent estate and make it your own. Welcome Home! Additional Features include: · Custom cabinetry throughout · 3- ft wide doors throughout · 2 Bosch tankless water heaters, · 2 Green Energy RHEEM A/C Gas Pack Units · Climate-controlled storage with built-in shelves · Sierra Pacific aluminum clad wood low-E windows and doors · Roof Professionally coated and sealed in 2024, · New 2,000-gallon septic system installed in 2024. · Sprinkler System for Fire Safety Overview: Discover your personal and private oasis in unincorporated Sedona with this breathtaking 2.09 acre estate and getaway retreat, offering stunning unobstructed views of the iconic Cathedral Rock. Just minutes from Red Rock Crossing, this custom built Craig Stromme masterpiece was completely remodeled in 2024 with high-end finishes throughout, seamlessly blending rustic charm with contemporary elegance and subtle hints of the Southwest. Ideal for the private professional, multi-generational living, large families, a versatile work-from-home space, or fantastic investment opportunity. Property Features: Spectacular Views: Every room in the main home and the open exterior center courtyard boasts awe-inspiring Red Rock views, ensuring an ever-present connection to nature's beauty. Single-Level Living: Perfect for easy accessibility and multi-generational living, this home features a thoughtfully designed floor plan with numerous spaces adaptable for office, home gym, yoga studio, or art studio. Grand Interior: Step into a bright and airy space with 10-ft ceilings, multiple glass sliders, and windows. The spacious dining room and kitchen feature coffered ceilings adorned with dazzling chandeliers, creating a stunning visual impact. Chef's Kitchen: The expansive kitchen is a culinary delight, showcasing white quartz countertops, a massive center island with built-in smart convection oven microwave combo and two beverage fridges, and premium commercial grade appliances. A 6-burner propane cooktop with pot filer and brushed copper hardware, soft-close cabinets, farmhouse sink, and dual breakfast bars offer both functionality and style. Luxurious Primary Suite: The primary bedroom suite includes a lavish bath with an elongated walk-in tiled shower featuring dual oversized rain shower heads and handheld wands, a soaking tub, dual vanities with an oversized smart mirror, and ample closet space. Guest Accommodations: The attached guest casita across the courtyard offers a spacious en-suite bedroom with a separate entrance, a huge studio/game room/office area with a wet bar and dual beverage fridges, and an adjoining guest suite with kitchenette and dining comboperfect for live-in caretakers or property staff. Courtyard Oasis: The 2,640 sq ft courtyard is an entertainer's dream, complete with a heated lap pool with bench seating, therapeutic spa, sunken sitting area with a gas firepit, and a trellised BBQ station featuring a stainless steel Blaze Grill with prep sink, built-in fridge, and ample storage. Four Car Garage: Two massive 600 sq ft garages with 12 ft ceilings and LED honeycomb lighting with one side open to the courtyard. Use one for vehicles and the other as an open-air shaded relaxation area complete with Red Rock Views. Plenty of space for all your toys. Outdoor Space: Ample room for all your recreational needs, including space for an oversized RV garage, paddocks for horses, and shaded relaxation areas with Red Rock views. Prime Location: A hiker's paradise with Red Rock Crossing and Baldwin Trail just minutes away. Enjoy world-class golf, shops, dining, galleries, and amenities within a two-minute drive. Additional Features: Custom cabinetry throughout; Two Bosch tankless water heaters; 2 Green Energy RHEEM A/C Gas Pack Units- 2 Zones; climate-controlled storage with built-in shelves; Sierra Pacific aluminum clad wood low-E windows and doors; professionally coated and sealed roof in 2024; all doors are 3 ft wide; New 2,000 gallon septic system installed in 2024. This extraordinary property offers a unique blend of luxury, functionality, and natural beauty. Contact us today to explore this magnificent estate and make it your own!

6043 N 21st Place Phoenix, AZ 85016

$3,699,000
5 Beds
4.5 Baths
6,182 SqFt
Status Active
MLS # 6770458
Property Type Single Family Residence
Price Type --
This Tuscan inspired property offers a unique opportunity to own a fairytale castle like estate in the heart of the Biltmore area. Located inside the gates of 2200 Bethany Home, a private community of only 14 homes, this residence is perched on over an acre of land, offering expansive views of the surrounding mountains and iconic Valley landmarks. The long, private driveway provides a secluded entrance, giving the property a true sense of exclusivity. With 16-foot coffered ceilings and expansive travertine floors, the home's open-concept layout is ideal for hosting large gatherings. The grand dual staircase makes a bold statement at the entrance, setting the tone for the luxurious experience inside. The formal dining room, family room, breakfast nook, and primary suite all open to wraparound covered balconyoffering stunning views from every room and plenty of space for outdoor dining and entertainment.The chef's kitchen is equipped with SubZero and Wolf appliances, a large center island, and a built-in breakfast bar, providing all the tools needed to cater to any event. The primary suite is designed for comfort, featuring a fireplace, a sitting area, a massive closet, a convenient laundry room and private balcony. The spa-like bath includes a double entrance shower, travertine wrapped therapeutic tub and perfect for relaxation. The lower level is easily accessible by elevator, leading to three additional bedrooms, each with its own en-suite bath, and a state-of-the-art soundproof media room. Outside, the Italian grotto-inspired limestone pool, complete with water features, creates a resort-like atmosphere. The manicured grounds and large grassy area provide ample space for outdoor activities and gatherings. For car enthusiasts, the property offers garage space for 5-7 cars, secured by a private gate, making it the ideal home for those with a passion for automobiles. Additionally, four new Trane AC units ensure the home is comfortable year-round. This estate offers the perfect blend of luxury, privacy, and the convenience of being in the middle of the city, designed for those who love to entertain in style. Seller is open to a seller carry sale.

6623 E Aster Drive Scottsdale, AZ 85254

$3,699,000
4 Beds
5 Baths
4,278 SqFt
Status Active
MLS # 6775294
Property Type Single Family Residence
Price Type --
New construction in a quiet neighborhood just minutes from Scottsdale Quarter, Kierland, the new PV Mall, restaurants, the Mayo Clinic, great schools, Hwy 101 & more. Split floor plan w/4,278 sq ft on a half-acre, 4 ensuite bedrooms, 5 baths, office, bonus room, and a great room with soaring ceilings & a glass wall of retractable doors leading to an AZ backyard paradise w/a 4,500 sq ft bi-level patio surrounding a large negative edge pebble sheen pool & infinity spa! Quality abounds w/black Andersen windows, Hinkley Lighting, 48'' Viking gas range, micro & dishwasher, a 66'' professional refrigerator, a large Taj Mahal Quartz waterfall island, white oak flooring, a concealed 14x7 ft butler's pantry & much more! See the supplement below or docs tab for an extensive features list (Cont'd) LUXURIOUS DESIGN **

5625 E Indian Bend Road Paradise Valley, AZ 85253

$3,695,000
4 Beds
3 Baths
3,887 SqFt
Status Active
MLS # 6777361
Property Type Single Family Residence
Price Type --
Welcome to Arizona's oceanfront property, featuring breathtaking, head-to-tail unobstructed views of Camelback Mountain. Nestled on Mummy Mountain and adjacent to a private reserve, this exquisite single-level residence offers the perfect blend of luxury and tranquility. With four spacious bedrooms and three beautifully appointed baths, this home provides ample space for family and guests. The primary suite includes a cozy sitting room with a gas fireplace, while the inviting family room features a second gas fireplace, perfect for gatherings. Elegant formal living and dining areas create an ideal setting for entertaining, complemented by a gourmet eat-in kitchen equipped with high-end appliances. Elegant tile and wood flooring enhance the home's... sophisticated ambiance. Accessing this mountain retreat is easy, thanks to the convenient driveway that ensures effortless entry. Step outside to your private pool surrounded by lush landscaping, with a spacious terrace perfect for enjoying the stunning mountain and city views. This extraordinary property embodies the essence of Arizona living, offering comfort, elegance, and natural beauty. Dont miss your chance to own this exceptional Paradise Valley gem.

3648 N Sky Point Circle Mesa, AZ 85207

$3,675,000
5 Beds
5 Baths
6,000 SqFt
Status Active
MLS # 6640413
Property Type Single Family Residence
Price Type --
Spectacular Views from this Beautiful Modern Masterpiece '' TO BE BUILT'' home. Perched in the Mountainside Hilltop Community of Las Sendas. This home was meticulously designed to maximize all the best attributes and views of this almost 2 acre lot. This gated community sits elevated in the Sky Mountain exclusive neighborhood giving this home privacy and 360 degree views of the valley coupled with luxury features for the most discerning tastes. This home will take 12-14 months to build and has already been thru HOA approval and is ready to break ground. Come drive and walk the lot and meet the builder to discuss making this new home yours!

6516 E Maverick Road Paradise Valley, AZ 85253

$3,675,000
4 Beds
4.5 Baths
4,225 SqFt
Status Active
MLS # 6758994
Property Type Single Family Residence
Price Type --
Opportunity Waiting... Exceptional location in Camelback CC. *****PV approval pending for remodeling/addition permit - plus guest house***Permit expected by end Sept 2024*** Permit included with purchase*** Plans, renderings, etc. available upon request. Current home is very livable. Home was an excellent rental.

39336 N Old Stage Road Cave Creek, AZ 85331

$3,650,000
4 Beds
4.5 Baths
4,503 SqFt
Status Active
MLS # 6522951
Property Type Single Family Residence
Price Type --
'Pre-Construction' Spectacular Hillside Custom Contemporary, located in The Village at Go John Canyon. MODEL HOME UNDER CONSTRUCTION NEXT DOOR ON PARCEL 5. No HOA, but thoughtful Design Guidelines apply. Nestled into the upslope of Go John Mountain, this 4503 sq. ft. Desert Contemporary will feature over 3200 sq. ft. main level living and 1300 sq. ft. lower lever attached Guest Home. Fabulous Great Room, Temp controlled glass enclosed wine room, luxurious Owner's Suite, an elevator and the most incredible expansive views. Exceptional luxury for multi-generational living or generate income with separate lower-level guest Cottage. Go John Canyon by Del Rey Development is a hidden and secluded enclave of premium custom homes. Each estate sized parcel is 4.3 acres and borders the Desert Foothills Land Trust with direct, private trail access to Cave Creek Regional Park. This luxury home also includes a custom, heated pool/spa