S&P Case-Shiller: Home Prices Gain in August

Home prices gained in August per the 20-City S&P Case-Shiller Home Price Index. Analysts said that home values continue to expand in spite of challenges including low inventories of available homes and strict mortgage qualification requirements.

National Home Price Index Near 2006 Peak

According to the national Case-Shiller Home Price Index, August home prices are 0.10 percent below their 2006 peak and all metro areas in the 20-City Home Price Index posted gains. Top gains in the 20-City Home Price Index were posted by Portland, Oregon with a year-over-year gain of 11.70 percent, Seattle, Washington home prices gained 11.40 percent and Denver, Colorado home prices gained 8.80 percent year-over-year.

All metro areas included in the 20-City Index posted year-over-year gains in excess of one percent. New York City had the lowest year-over-year price gain with a year-over-year reading of 1.70 percent in August. Washington, D.C. home prices rose 2.30 percent year-over-year. Home prices in the Cleveland, Ohio metro area increased by 2.90 percent year-over-year.

New Housing Bubble Unlikely

With home price gains close to peak prices seen before the housing bubble burst, concerns may arise over the potential for a new housing bubble to occur in coming months. Analysts say this is unlikely as home buyers are not taking out extreme levels of mortgage debt seen at the onset of the Great Recession. David M. Blitzer, chairman of the S&P Index Committee, said “There is no reason to fear another massive collapse is around the corner. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt.”

Possible Fed Rate Hike Won’t Cause Mortgage Rates to Explode

The Federal Open Market Committee of the Federal Reserve is expected to raise the Fed’s target federal funds rate in December. This action will lead to interest rate increases for consumer credit and mortgages, but not at levels that would make mortgage loans suddenly unaffordable. While gradual increases in federal interest rates would cause mortgage rates to rise over time, market conditions and related factors could potentially cause home prices to slow or even dip in some areas. Regional influences including employment and demand for homes are examples of factors contributing to home price growth or decline in specific areas.

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12411 N 133rd Place Scottsdale, AZ 85259

$2,100,000
4 Beds
4.5 Baths
4,596 SqFt
Status Active
MLS # 6758712
Property Type Single Family Residence
Price Type --
VOTED BEST HOME ON TOUR! Panoramic views of the majestic McDowell Mountains surround this luxurious custom home in guard-gated Scottsdale Mountain, with soaring 11' ceilings and oversized windows. This home is an entertainer's paradise with wrap-around balconies, heated salt-water pool, and open floor plan. Formal living room, dining room, and family room with fireplace flow from a gourmet kitchen to complete this contemporary floor plan. All four bedrooms offer private ensuites, including a lower-level suite with a kitchenette and pool access. Plus a bonus office or nursery. Designer light fixtures and curated landscaping add to this home's mountainside elegance. Community perks include pickleball, tennis, a spa, and 24-hour security. Fine dining, golf, and top-rated schools nearby

27799 N 67th Way Scottsdale, AZ 85266

$2,100,000
4 Beds
6 Baths
4,220 SqFt
Status Active
MLS # 6737500
Property Type Single Family Residence
Price Type --
Original owner of this beautiful custom home on a corner lot in prime North Scottsdale is ready for your personal touches. From the gated entry into the private courtyard, you will be surprised to see two additional attached casitas with one bedroom and bath each allowing privacy for family and guests. Enter into the large living room combination dining room with fireplace, wet bar and bar refrigerator. Fabulous kitchen with granite counters, a breakfast bar, two built in ovens and a microwave, gas cooktop and huge refrigerator. The master suite has its own private courtyard, his and hers walk in closets, separate shower with two heads, a jetted soaking tub and two separate vanities. Bedroom 2 has an ensuite bath while Bedrooms 3 and 4 share a full bathroom between them Bedroom 4 is huge and you may consider using this room for a home theatre, family entertainment area, and it is large enough for a pool table or exercise equipment. The laundry room has lots of storage, complete with washer, dryer and a laundry sink..even a built/in ironing board. The two car garage faces the street and the third garage is side entry . So many extras in this home, you really have to see it for yourself and make it your new home.

37 W Sierra Vista Drive Phoenix, AZ 85013

$2,100,000
4 Beds
3.5 Baths
4,173 SqFt
Status Active
MLS # 6747449
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living in this 4 BR+office custom home, perfectly situated in a tranquil cul-de-sac in the heart of North Central. Spanning 4,173 SF, this residence boasts a gracious and airy layout that flows effortlessly from room to room. The split primary suite features an oversized closet and a spacious bath, creating a serene retreat. The outdoor space is designed for relaxation and entertainment, complete with a pool, in-ground spa, BBQ, and fireplace, making it perfect for year-round enjoyment. A wine cellar adds a touch of sophistication, while high-end finishes and superior craftsmanship are evident in every detail, creating a home of unparalleled quality. Located off the famed Murphy Bridle Path, you'll enjoy easy access to the best that Phoenix has to offer.

4639 E Mountain View Court Phoenix, AZ 85028

$2,100,000
4 Beds
3.5 Baths
3,563 SqFt
Status Active
MLS # 6750469
Property Type Single Family Residence
Price Type --
Experience the height of luxury in this stunning Arizona estate, perfectly positioned across from prestigious Paradise Valley. Step into a beautifully crafted home with rich wood floors and an open layout ideal for both grand events and cozy gatherings. The gourmet kitchen features premium Wolf appliances, including double ovens and a griddle, alongside a Subzero Refrigerator and Freezer. The elegant quartz island, white cabinetry, and spacious walk-in pantry create a chef's paradise. The dining room is elegant and open, and the home includes three generous bedrooms in one wing, including a guest suite with a private bath. primary suite, located in its own wing, features a sophisticated office and a convenient half bath. Additional versatile spaces include a second office and playroom. The well-appointed laundry room provides ample storage and a practical drop zone.Embrace the ultimate in Arizona luxury, where elegance, comfort, and prime location create your dream home. The sunlit great room offers panoramic views of Camelback Mountain through 10-foot sliding doors, leading to an exquisite outdoor space. Misting System on patio to cool you off in the summer heat! There's even room for a sports court or additional seating. Enjoy a patio with a bar, built-in barbecue, and refrigerator, overlooking a sparkling poolperfect for embracing Arizona's indoor-outdoor lifestyle. Close to golf courses and can walk to shopping and restaurants.

3943 E Laurel Street Mesa, AZ 85215

$2,100,000
6 Beds
5 Baths
5,535 SqFt
Status Active
MLS # 6779025
Property Type Single Family Residence
Price Type --
Welcome home to your elegant retreat in Spyglass Estates. This fully updated residence features 6 bedrooms and 5 bathrooms, with beautiful hardwood floors and high-end carpeting throughout. The Chef's kitchen includes a walk-in butler's pantry and offers seamless access to outdoor living. The main level hosts a private primary suite, a second bedroom, large den, and fully equipped guest quarters with a separate entrance. Upstairs, you'll find three additional bedrooms, while the lower level includes a versatile bonus room and a cozy family room ideal for gatherings. Set on over an acre, the outdoor space features a resort-style pool and spa, green space with Citrus trees, along with 5 garage spaces and a sport court. This home combines luxury and practicality.

21844 N 79th Place Scottsdale, AZ 85255

$2,100,000
4 Beds
2.5 Baths
3,474 SqFt
Status Active
MLS # 6782928
Property Type Single Family Residence
Price Type --
Step into a world of refined elegance with this exquisite french countryside-inspired, single level home. In a quaint gated North Scottsdale neighborhood, the stunning residence offers a truly unique living experience with over a half million dollars in high-end finishes and carefully crafted details. The main living spaces are bathed in light with tall windows and multi-panel glass doors that seamlessly connect the indoors to the outdoors, creating an atmosphere inviting for relaxation and entertaining. The elegant design is complemented by leathered marble countertops in a luxurious chamí gold throughout, providing both beauty and functionality, while the Solstice Contempo limestone floors provide a sophisticated foundation for the space. At the heart of the home is a chef-inspired custom kitchen featuring top of the line Ilve and Miele Appliances, such as a 48 gas range surrounded by a custom venetian plaster hood. The whitewash-stone accent wall brings the perfect amount of texture and earthiness to the space. The cabinets are complete with a sleek, panel-front refrigerator. From the moment you arrive, the private courtyard welcomes you with an air of elegance and charm. A beautifully hand-carved fountain serves as the focal point, creating a serene and inviting atmosphere. The meticulously designed space sets the tone for what awaits in the backyard. The backyard creates a relaxing ambience with picturesque sunset views, featuring a sparkling pool, travertine, lush green grass, fire features and a built in barbecue area. The extended covered patio creates the perfect area to relax at the end of the day or wake up with a hot cup of coffee or tea. This home is truly magical.

10801 E Happy Valley Road Unit 17 Scottsdale, AZ 85255

$2,100,000
3 Beds
3.5 Baths
4,088 SqFt
Status Active Under Contract
MLS # 6777045
Property Type Single Family Residence
Price Type --
Stunning sunsets, twinkling city lights, flowing green fairways, rugged mountain silhouettes and mature specimen cacti create a spectacular setting for this exceptional custom designed Southwest home. Timeless residence perched on a .71-acre lot overlooking the exclusive Troon Country Club's 17th fairway in the prestigious Glenn Moor community of Troon Village. First time ever available on the market and impeccably maintained by the original owners, offering over 4,000 square feet of single-level living, 3 bedrooms, a den, 4 baths and an oversize 3-car garage. Upon entering the private, gated courtyard, guests are welcomed by lush desert flora, vibrant flowering plants, and a beautifully tended rose garden, setting the tone for the elegance within. The great room, with its lofty 12-foot ceilings adorned with statement solid wood beams and gas fireplace is designed to impress. Thoughtfully crafted art niches and soft puck lighting set the perfect backdrop to showcase your treasured pieces, creating a warm yet sophisticated ambiance. Window wall allows seamless transitions from indoor to outdoor living. Meandering grand patio offers deep covered living areas for grand scale entertaining or intimate enjoyment, cozy fireplace, sprawling sundeck, wrapped around the sparkling pool, spa and waterfall. Alfresco dining at its finest. A culinary dream, the chef's kitchen is equipped with premium appliances, including a Lacanche stove with a warming oven, gas griddle, and burners; Sub-Zero; refrigerated drawers; addition wall ovens; island with second InSinkErator and sink; and walk-in pantry. Ideally located off the kitchen and nook, is an intimate patio with built-in grill and picturesque view of Troon Mountain. The social sunken bar (the ONLY 2 steps in the entire home) with seating provides dramatic mountain views, featuring a convenient set up with a bar refrigerator, sink, and ice machine to ensure you're ready to entertain at a moment's notice. Adjacent to the kitchen, a plentiful wine cooler and the curvilinear formal dining room with courtyard garden views is a perfect setting with ample space for gatherings while effortlessly connecting to the culinary heart of the home. The owner's wing is a tranquil retreat, with personal access to the serene grand patio, pool and spa. The primary bath exudes luxury featuring polished travertine finishes, a spacious walk-in shower, lounge tub, and a dedicated make-up vanity. The custom fitted walk-in closet with fitted with built-in drawers and hampers, includes an additional alcove that is ideal for an exercise room or additional storage, offering a refined blend of convenience and privacy. Everyone is sure to enjoy the dedicated Den featuring custom cabinetry, creating a flexible space for entertainment or relaxation and the two spacious ensuite guest rooms bringing comfort and enjoyment for visitors. Breathtaking city lights and sweeping panoramic views of Troon Mountain, the McDowell Mountain Range, and Pinnacle Peak, visible from both indoor and outdoor living spaces. This home's timeless elegance, quality craftsmanship, superior finishes, exceptional attention to detail and unparalleled views make it a rare gem. The location delivers an ideal backdrop for luxury living in a serene setting while being conveniently situated in the heart of all that Troon has to offer. Reside in the exclusive guard-gated community of Glenn Moor, at 2,500 feet above sea level, hosting the back nine holes of the private Troon Country Club Golf course, it is one of the most sought-after luxury communities in North Scottsdale. Glenn Moor at Troon Village is a guard-gated community with a 24-hour attendant on duty as well as a community clubhouse with a heated pool, bocce ball, tennis courts and nearby walking trails. *Solid block and insulated wall construction. * New Roof 2023 *Note all homes in Glenn Moor have the same street address, so the lot number is how you separate each individual home. This home is lot #17. Address is 10801 E Happy Valley Road, #17, Scottsdale, AZ 85262

11402 E Desert Troon Lane Scottsdale, AZ 85255

$2,100,000
3 Beds
3.5 Baths
4,004 SqFt
Status Active Under Contract
MLS # 6753600
Property Type Single Family Residence
Price Type --
Enjoy breathtaking and unobstructed views of the majestic Troon Mountain, complemented by beautiful vistas of boulder formations and stately saguaros, all from the privacy of this stunning home situated on a premium, elevated corner lot. This tastefully modernized Southwest retreat is a single-level gem with no interior steps, nestled within the prestigious, guard-gated enclave of Boulder Pass at Troon Village. As you step inside, notice the thoughtful artistry and craftsmanship that permeate every corner of this exceptional residence.The heart of this home is the meticulously remodeled kitchen, a true culinary masterpiece where form meets function. Custom-built alder wood cabinetry adorned with glass fronts and unique stainless steel designs offer ample storage options, complemented by a reverse osmosis system, dual Wolf wall ovens, a separate Wolf steam oven, a Wolf gas cooktop, and a Subzero refrigerator. The mosaic glass tile backsplash adds a layer of elegance, enhancing the kitchen's visual appeal. Gaze upon views of Troon Mountain as the kitchen flows seamlessly into the breakfast nook and family room areas, all of which share an authentic, meticulous crafted latilla and beamed ceiling that exudes Southwestern charm. Adjacent to this inviting space, a well-appointed wet bar features Paperstone counters, bar seating, a beverage fridge, and a wine storage area with a custom iron decorative door. Travertine and walnut wood flooring sweep through the home, adding warmth and sophistication. As you enter the home, the formal living room offers a captivating view of the serene back patio, boulders and fountain, while the front entryway and dining room boast exquisite latilla ceilings that glow from the light and views of beautiful sunsets that can be captured through their surrounding windows. This residence offers three luxurious bedrooms, including a primary suite that boasts a spacious sitting area with direct patio access. The primary bath is a spa-like retreat with travertine and granite finishes, dual vanities, a separate shower, and a sumptuous soaking tub. Two additional bedrooms, one ensuite with a walk-in closet and exterior access to the charming entry courtyard, provide comfort and privacy for family and guests. The dedicated office is adorned with double entry doors and offers a refined workspace with peaceful views of the front courtyard, while the laundry room, which is adjacent to the garage, includes a sink and additional refrigeration space. The entry courtyard is a welcoming oasis featuring a gas fire pit, twinkling north city light views, and an elegant paver hardscape. A half-circle drive ensures convenient parking for visitors. The backyard is a tranquil, private paradise designed for relaxation and entertainment, with multiple secluded areas, a boulder waterfall fountain and pond, a built-in barbecue with pull-up bar, a gas kiva fireplace, a commercial-grade misting system, and a sparkling pool area with unobstructed views of Troon Mountain, Tom's Thumb and the McDowell Mountains. Multiple covered spaces provide year-round comfort. Additional features include a three-car side-entry garage with epoxy floors, a freshly recoated flat roof in 2023, a water softener, and newly painted interiors.

8320 E Appaloosa Trail Scottsdale, AZ 85258

$2,100,000
4 Beds
3.5 Baths
3,415 SqFt
Status Active
MLS # 6765538
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This stunning, newly remodeled 4-bedroom, 3.5-bathroom plus office offers modern elegance and thoughtful design throughout. Perfect for both entertaining and everyday living, the open-concept layout features spacious living areas, high ceilings, and designer finishes. The gourmet chef's kitchen features sleek countertops, stainless steel appliances, large island, seamlessly flowing into the dining room with a two-way fireplace. The private office provides a quiet space to work or study, and the luxurious primary suite offers a tranquil retreat with a spa-like bathroom and large walk-in closet. Large lot with resort style backyard including a sparkling play pool, sport court, extended patio and an additional ramada. Also includes a RV gate with gated parking perfect for storing recreational vehicles. Located in the sought-after neighborhood McCormick Ranch, 3 C's school district and conveniently located to the best dining and shopping!

38749 N 104th Way Scottsdale, AZ 85262

$2,100,000
3 Beds
3.5 Baths
2,544 SqFt
Status Active
MLS # 6703948
Property Type Single Family Residence
Price Type --
Full Golf Membership available. One of the very few DETACHED Haciendas in the Hacienda Village at Desert Mountain and comes with an extra exterior parking space. This charming home offers a wonderful courtyard entry with fireplace and lush vegetation, the functional great room floor plan has two suites in the main house and a separate Casita. The kitchen has dual Viking ovens, Viking Range and Viking refrigerator, microwave and nice sized island that opens up to the great room - ideal for entertaining. The owner's suite has his and her closets, soaking tub and fireplace. The Hacienda Village has its' own pool, spa, Ramada area with fireplace and exercise room. A wonderful lock and leave home with low maintenance.

25635 N 47th Drive Phoenix, AZ 85083

$2,100,000
6 Beds
4.5 Baths
4,806 SqFt
Status Active
MLS # 6715717
Property Type Single Family Residence
Price Type --
BEST VIEWS IN THE WHOLE WEST VALLEY!!! This is my all time Favorite! This is the most Private ESTATE sitting on top with views of the whole Mountain Range! It takes my breath away!It has everything a property has to offer tucked away in Saddle View Estates with no HOA. It is a Fortress of an Estate. Everything is newer and meticulously kept. Including Owned $80k solar! 2000sf 5 car oversized enormous garage with storage rooms, Newer Roof, Upgraded AC's electronic air filters, Activic Air Scrubbers. New Anderson Windows, new clothes W/D, new kitchen appliances, new whole house filtration, new hot water heaters x2, new toilets, new Pentair water softner, New whole house copper plumbing. New pool pebble Tech surface, filter, pump, propane htr, multi-colored pool light, wireless Pool control The upgraded AC's have electric air filters, and Activek Air Scrubbers, 5yr service plans, new garage Epoxy floors,

3401 N 34th Place Phoenix, AZ 85018

$2,100,000
4 Beds
4 Baths
3,217 SqFt
Status Active
MLS # 6759345
Property Type Single Family Residence
Price Type --
In the highly desirable neighborhood of Pomelo Park, this Arcadia home has everything you need to make memories that will last a lifetime! This impressive 3,200+ sq ft, 4-bed/4-bath (three en-suite) home features 9-ft ceilings, split master plus a central office with pool/backyard views. As you arrive at the property you'll be impressed with the curb appeal of this home. Mature trees, white crossbuck ranch rail fence, and a three car epoxied garage with lots of extra parking space contribute to the initial impression that continues throughout this beautiful home. Step inside and you're greeted by a true indoor/outdoor living space. Double sided floor-to-ceiling sliding glass doors completely open the interior & make this home ideal for entertaining. The large open concept kitchen boasts marble countertops, two wall-mounted ovens, microwave drawer, side-by-side fridge/freezer combo, pot filler over the stove, a large island and walk-in pantry. There is an oversized farm sink with an additional sink in the kitchen island. The pool is great for year round usage with the newly installed and updated pool equipment, pool heater and salt cell. Additional backyard features include three built-in pool fountains, a heated outdoor shower, a covered oversize patio, built-in BBQ, and large grassy area. The home has energy saving spray foam wall insulation and a synthetic stucco exterior for ease of maintenance. Come and see for yourself why this home won't be on the market long!

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