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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32614 N 227th Avenue Wittmann, AZ 85361

$3,495,000
2 Beds
2 Baths
2,150 SqFt
Status Active
MLS # 6786141
Property Type Single Family Residence
Price Type --
2024 Custom 2 bd 2 bath w/office Custom 1 bd 1 bath casita 2 Entryways 3 arena's -1 full size roping/ barrel racing arena w/covered boxes 1 breakaway arena 1 cutting arena 2 Priefert roping chute 2 covered sitting areas over looking arenas 2 private wells 1 domestic 10,000 gal storage tank 1000 gal pressure tank Non exempt irrigation well w/82 acre feet of grandfather water rights Water truck fill station Hay Barn w/air conditioned shop loft for office space & possible guest quarters Small hay barn 12 stall mare motel w/grooming bay & tack room covered wash rack 6 covered pens with automatic waters Semi Loading chute & cattle processing area 2- 5 acre pastures w/2 corrals for gathering cattle orchard on auto drip system 14 RV plug-ins w/water RV dump 700 amp APS service NO FLOOD NO FLY

7180 E Kierland Boulevard Unit 1008 Scottsdale, AZ 85254

$3,495,000
3 Beds
3 Baths
2,018 SqFt
Status Active
MLS # 6785877
Property Type Apartment
Price Type --
This is it! You have been waiting for the Penthouse home on the Northeast corner! 3 bedroom, 3 bath 2018 square feet of view! 10 foot ceilings with expansive glass throughout the home. Views of the McDowell mountains for beautiful Arizona sunrises. The largest outdoor patio space in the building stretches the length of the open family and kitchen areas. Relax outside with your own gas BBQ, large seating areas and city lights view. Inside is a true split of two primary suites with an additional third bedroom and 3rd bath. Many upgrades throughout the home and livable open floorplan. Optima Kierland of course is known for location, amenities throughout including roof top pool, sauna, steam, walking track and more!

39395 N 105th Street Scottsdale, AZ 85262

$3,495,000
5 Beds
5.5 Baths
4,730 SqFt
Status Active Under Contract
MLS # 6522391
Property Type Single Family Residence
Price Type --
Fantastic brand new home in Grey Fox at Desert Mountain. Completion expected in the Fall of 2024. Interior finishes are being installed and should be completed by mid-August. Exterior work including the new pool, is well underway. This home from Sierra Custom Homes offers a fantastic floor plan, impeccable finishes and fixtures and a beautiful setting on this great corner lot. With 4 or 5 bedrooms, a separate office, great room and fantastic indoor/outdoor living, this home will live and entertain exceptionally well. The huge covered patio opens to the pool and spa. There will be many new and impressive features and details in this home. This home will be ready for occupancy by its new owner this Season!

3965 E Sierra Vista Drive Paradise Valley, AZ 85253

$3,495,000
5 Beds
5 Baths
4,678 SqFt
Status Active
MLS # 6698002
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living in this exquisite estate, nestled in the prestigious, guard gated enclave of Paradise Reserve. Step inside this soft contemporary masterpiece, to embrace refined luxury with soaring ceilings, contemporary fireplace, an open light & bright floor plan, hardwood floors & designer finishes. Perfect for entertaining, this home features expansive pocket doors that open the living room to the lushly landscaped yard featuring pool & spa with fountains, a built in grill and expansive patios. Perfect for culinary creations, the chefs kitchen features a sub zero refrigerator, wolf range, double islands & custom cabinetry. Retreat to the lavish primary suite, located on the main level, complete with a spa like ensuite, spacious walk in closet & private patio. A second bedroom/ office is located on the main level and two bedrooms, two bathrooms on the second level featuring Camelback views from the private balconies. The guest casita is the perfect oasis right off the pool, featuring a bedroom, bath and direct access garage. Enjoy the ultimate convenience of being just moments away from world-class dining, shopping, golfing, hiking trails, and cultural attractions, providing endless opportunities for adventure and relaxation.

12290 E Gold Dust Avenue Scottsdale, AZ 85259

$3,495,000
5 Beds
6 Baths
5,067 SqFt
Status Active Under Contract
MLS # 6761521
Property Type Single Family Residence
Price Type --
Welcome to a luxurious estate nestled in the heart of Scottsdale, Arizona, in the highly coveted 85259 zip code. This magnificent home, sitting on 1.35 acres of pristine land, boasts 5,067 square feet of meticulously renovated living space with 5 spacious bedrooms and 6 elegant bathrooms. With breathtaking and unobstructed views of the McDowell Mountains form the great room and backyard, this residence is the epitome of luxury, style, and functionality. Perfect for the car enthusiast, the property features not one, but two separate garages, one of which is for 3 cars, temperature-controlled, and has drive-through access to the backyard—perfect for housing your prized collection. The exterior showcases newly installed garage doors, adding to the home's modern appeal. Inside, the gourmet kitchen is a chef's paradise, outfitted with double islands, brand-new cabinetry, and top-of-the-line Sub-Zero, Wolf, and Cove appliances. With a walk-in pantry and additional appliance closet, keeping everything organized is a breeze. Whether hosting an intimate gathering or a large celebration, this home is designed to entertain in style, complete with multiple ovens, a warming drawer, and an integrated wine refrigerator. The expansive floor plan offers plenty of room for both intimate gatherings and large celebrations, including a fully equipped man cave complete with a built-in bar for the ultimate entertainment experience. The five ensuite bedrooms offer luxury and privacy for family and guests alike, with large picture windows framing the stunning mountain vistas. The master retreat is a true sanctuary, complete with a mirrored fitness room, a spacious walk-in closet, and a spa-like bathroom featuring a luxury smart toilet/bidet, separate tub, and walk-in shower. Step outside and discover a private oasis in the expansive backyard. Recently renovated with synthetic grass and elegant tile, the outdoor space includes a deluxe chicken coop, a sauna/spa with both indoor and outdoor showers, and an RV slab with full hookups for ultimate convenience. With ample room to add a tennis or pickleball court, this estate is a haven for recreation and relaxation. Backing up to a serene wash, the property offers unparalleled privacy and tranquility, while being just minutes from all that Scottsdale has to offer. This is more than a homeit's a lifestyle.

12560 E Cochise Drive Scottsdale, AZ 85259

$3,495,000 - 5Br/6Ba -  for Sale in Metes And Bounds, Scottsdale
Open House
$3,495,000
5 Beds
5.5 Baths
4,951 SqFt
Status Active
MLS # 6715679
Property Type Single Family Residence
Price Type --
NEW CONSTRUCTION - Contemporary home with private Casita (price/sf incl casita is $601.86!). Located in the prestigious Shea Corridor on an acre lot with stunning views of the McDowell Mountains! Front entrance takes you into a spacious foyer which leads to an expansive Great Rm, Kitchen and Dining area. The kitchen, with its European-style cabinets quartzite countertops and high-end appliances, also has a large walk-thru pantry. Wide hallways route you to the ensuites, each with an ample walk-in closet and bathroom. Owner's suite has a sitting and TV room, a gorgeous long vanity, bathing area, and an extra-large closet . An oversize 4-car garage fits your full size pickup with plenty of room to spare! The 856 SF detached 1-Bd Casita mirrors the luxury of the main home, with a full kitchen and Great Rm. The large porch offers spectacular views of the mountains. Large Travertine steps take you to the modern, heated pool and spa. There are sliding metal gates for access to the backyard, including private parking for the Casita. The home is within close proximity to fine dining and Old Town Scottsdale, the Mayo Clinic, world class golf, hiking trails, Westworld and more! No HOA. Your dream home awaits!

4840 E Caida Del Sol Drive Paradise Valley, AZ 85253

$3,490,000
6 Beds
5.5 Baths
5,598 SqFt
Status Active
MLS # 6692117
Property Type Single Family Residence
Price Type --
What makes this home a coveted gem? Value: Currently there is only one property with a 1000sqft+ guest houses under $4M in Paradise Valley. Perfect Generational Living. Design: bold, modern architecture with clean lines and multi-generational modern living. Luxurious Interiors: High-end details and a layout that's both functional and fabulously designed. Entertainer's Dream: Incredible outdoor living spaces, complete with a sparkling pool, spa, and an outdoor BBQ/Bar. It's the perfect setting for memorable gatherings, big or small. Location: Minutes away from exceptional schools dining, shopping, and entertainment, yet tucked away in a private refuge. The best of Paradise Valley, with elegant design and superior craftsmanship that seamlessly blends indoor and outdoor living.

11 Sky Ridge Court Sedona, AZ 86336

$3,480,000
4 Beds
6 Baths
3,920 SqFt
Status Active
MLS # 6586352
Property Type Single Family Residence
Price Type --
A stunning custom home is set to be built in Sky Ridge Estates, Sedona's newest subdivision, located in the heart of Sedona. The home will be situated on a beautiful panoramic view hilltop lot on a ridge with a cul de sac. The property boasts breathtaking North/East/South facing panoramic views and will feature four or five en-suite masters. The home is just a short walk away from the new town square/city park and museum, Tlaquepaque, high-end shopping and dining, Los Abrigados Spa resort, restaurants, gym, lighted tennis/pickleball courts, and Oak Creek front park. The property is presently in the design phase (rendering and floor plans only), Very quiet and secluded, yet in the heart of Sedona, with a 10 walkability score. Below Market Pricing: Secure your slice of paradise with lots starting at just $329,000(half-off 8/23 appraisal of 495,000- 695,000 as improved (when road and utilities are completed) Build Your Dream: Opt for our innovative rustic contemporary, metal, and ceiling-to-floor glass eco-friendly landscape homes, designed for efficiency and elegance. Cantilevered on pillars vs old style expensive cut and fill pad or retaining wall, See renderings under the photo tab. Unparalleled Views, Privacy, very quiet & secluded: 19 Exclusive Lots: Each lot, ranging from half to three-quarters of an acre, offers breathtaking panoramic views along a serene ridge down and through a hidden canyon. Investment & Lifestyle Flexibility: Luxury Living Redefined: Sky Ridge Estates isn't just a place to live; it's a lifestyle. This 5-star resort community offers: *Private Club & Fine Dining (room service): Experience culinary delights without leaving the comfort of your community. *Wellness & Leisure: State-of-the-art anti-aging spa, fully-equipped gym, yoga studio, indoor climate-controlled pickleball court, and a golf simulator. *Concierge & Transport: Enjoy the convenience of concierge services, a Mercedes limo van for all your travel needs, and 24-hour security guard and cameras. *Resort-Style Property Management: Travel a lot? 2nd Home? On-site property management is available. *Infrastructure is underway, and roads and utilities are being installed. The clubhouse and gate are pending approval. Collaborate with our top architect and builder to bring your vision to life. Contact us for more details on this unique opportunity. Look under photos and website for home renderings and drone footage of each lot. Don't miss out on this chance to invest in a lifestyle of luxury and tranquility at Sky Ridge Estates. Recent Sold Comps; 920 N Palisades,.73 ac,COE 10/23 for 525,000 3 Sky Ridge Ct.,.63 ac,COE 1/24 for 500,000

9853 E Cornerstone Drive Scottsdale, AZ 85255

$3,475,000
4 Beds
4.5 Baths
4,470 SqFt
Status Active Under Contract
MLS # 6784489
Property Type Single Family Residence
Price Type --
Welcome to this meticulously updated 4,470 sqft estate, nestled in the highly coveted community of Windgate Ranch. Recently updated in June 2024, this impressive single-level residence offers a seamless blend of modern luxury and comfort, set against the breathtaking backdrop of the McDowell Mountains. This expansive home features 4/5 bedrooms, 4.5 baths, and a host of sophisticated upgrades throughout. The stunning open-concept design showcases soaring 12-foot and 16-foot ceilings, creating a sense of grandeur and spaciousness from every room. With a large lot and no homes directly behind, privacy and tranquility are yours to enjoy. The views of the McDowell Mountains offer the perfect complement to the serene and secluded atmosphere. The heart of this home lies in its completely remodeled kitchen, equipped with the latest Sub-Zero, Wolf, and Cove appliances, including a professional-grade Viking gas range. Whether you're an aspiring chef or simply love to entertain, this kitchen is designed for both function and style. The generous primary suite is an indulgent retreat, boasting a sizable bedroom and a newly updated primary bathroom featuring luxurious finishes and modern touches. For added convenience, the primary bath is equipped with a hot water recirculation line, ensuring instant comfort. The walk-in closets offer plenty of space for your wardrobe, while the entire suite serves as the perfect sanctuary for relaxation. Step outside and discover your own private oasis. The backyard is an entertainer's dream, complete with a sparkling pool adorned with cascading water features, a striking outdoor fire feature, Built in BBQ, and a spacious covered patio with heaters and remote-controlled sunscreens for added comfort. Whether you're hosting a summer soirée or enjoying a quiet evening under the stars, this outdoor space offers an idyllic setting year-round. Additional highlights of this exceptional home include a separate entrance casita, perfect for guests or as a private home office, a 3-car garage, and custom spray foam insulation throughout the house and casita. The spray foam ensures superior energy efficiency, and the thermostatically controlled exhaust fan further enhances the home's performance. With every detail thoughtfully considered and executed, this property offers the ideal balance of luxury, privacy, and convenience. Experience unparalleled living in one of Scottsdale's most desirable neighborhoods, with top notch Windgate Ranch amenities, world-class shopping, dining, and outdoor recreation just moments away. Don't miss this rare opportunity to own a true Scottsdale gem. WINDGATE RANCH AMENITIES OUTDOOR *Nearly six acres of green space throughout the community *Walking trails in the community and hiking trails nearby *Playgrounds *Picnic ramadas *Tennis, pickleball, and basketball courts *Sand volleyball * Three pools and spas * Poolside cabanas * Open-air Living Room INDOOR *Member's Clubhouse (includes access to a full kitchen, bar, and back patio) * Windgate Room (tables/chairs, microwave, and refrigerator)

12020 N 68th Place Scottsdale, AZ 85254

$3,450,000
5 Beds
5 Baths
5,022 SqFt
Status Active
MLS # 6752052
Property Type Single Family Residence
Price Type --
NEW from Thomas James Homes with an opportunity to select some interior finishes during early stages of construction! This house has a great address and great schools. Sitting in the highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 5.5 bathroom this contemporary home is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, flat panel cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted for modern living with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office and a kitchen prep area adjoining a bonus room. Home will feature fully landscaped front and back yards with a pool and spa, providing great Arizona outdoor living space. This home is minutes from dining, shopping and more. Expected completion Fall 2025.

109 E Hayward Avenue Phoenix, AZ 85020

$3,450,000
4 Beds
4.5 Baths
4,528 SqFt
Status Active
MLS # 6758133
Property Type Single Family Residence
Price Type --
NEW CONSTRUCTION - READY Q1 2025. Blue Sky Homes are 50% MORE energy efficient than a standard new build and Energy Star / Indoor AirPlus Certified for cost savings and a significantly healthier home for you and your family! With an emphasis on state of the art design, energy-efficiency, integrated technology, we offer unparalleled indoor / outdoor spaces welcoming year round quality time with friends and family .... All in the heart of Phoenix Arizona. 4 Bedrooms + 4 baths + office + Design + Efficiency + Community + Technology = very happy homeowners! Blue Sky Homes is bringing to the market this stunning Modern new build in the highly desirable North Central neighborhood. Perfectly appointed and finished to the exquisite level that Blue Sky Homes always delivers every time.

3040 S Solitaires Canyon Drive Flagstaff, AZ 86005

$3,450,000
4 Beds
4.5 Baths
3,832 SqFt
Status Active
MLS # 6760314
Property Type Single Family Residence
Price Type --
Nestled in the prestigious Pine Canyon community of Flagstaff, AZ, this exceptional home offers a unique blend of luxury and natural beauty. Spanning 3832 square feet on a 0.33-acre lot, this SMART HOME wired residence captures the essence of mountain living with a contemporary twist. Surrounded by the tranquil pines and backing onto the National Forest, the home offers breathtaking views of the San Francisco Peaks, blending seamlessly with its environment. Designed with both elegance and comfort in mind, the architectural details of this custom home create a harmonious balance between modern mountain aesthetics and industrial chic. High ceilings, exposed beams, and expansive windows flood the interiors with natural light, while reclaimed materials, oak floors, and (Continue) Elevator, high ceilings, exposed beams, and expansive windows flood the interiors with natural light, while reclaimed materials, oak floors, antique steel add a touch of rustic charm. The open floor plan flows effortlessly from the spacious living room, featuring a custom reclaimed steel fireplace, to the dining area and chef's kitchen, which is equipped with stainless steel appliances, a functional island with seating and storage, a pantry, and a wet bar with a wine fridge. The master suite is a true retreat, complete with a cozy seating area, fireplace, and a full bathroom that exudes spa-like luxury with a resort-style shower, double sinks, and a soaking tub. Each of the remaining three ensuite bedrooms offers comfort and space, with full bathroom