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.

Click Here to See What Your Home is Worth

7444 Caldwell Canyon Road Snowflake, AZ 85937

$3,500,000
10 Beds
9 Baths
14,537 SqFt
Status Active
MLS # 6710527
Property Type Single Family Residence
Price Type --
Luxurious Resort Estate with Unrivaled Features and Mesmerizing Canyon Sunset Views in Arizona's White Mountains. Nestled on 10 picturesque acres with breathtaking canyon views and a serene creek running below, this extraordinary Tuscany-style estate offers unparalleled elegance and comfort. As you approach, the white-fenced, tree-lined driveway draws you in. Inside, soaring 14-foot ceilings create a sense of grandeur throughout the home. Upon entering, you are greeted by a formal entry that sets the tone for the entire residence. To your left, a dedicated office space is perfect for remote work or study. The formal living and dining rooms are designed for entertaining, offering elegant spaces to host gatherings. The heart of the home is the gourmet kitchen, featuring an expansive island, top-of-the-line appliances, a cozy dining nook, and an adjacent living room making it ideal for intimate family gatherings. The oversized master suite is a true retreat, with direct access to the back patio, perfect for enjoying the outdoors and taking in the serene views. In the west wing, you'll find four additional main-level bedrooms, each with its own bathroom - three are ensuite, and one features a Jack and Jill. The main level also boasts a spacious bonus/game room for recreation and relaxation, and a large, functional laundry room to meet all your household needs. Descend to the basement, where 12-foot ceilings give a spacious feel, revealing a large game room, a museum-style trophy room, and a theater room complete with tiered seating. This level also includes two additional bedrooms, a home gym that can easily be converted into another bedroom, plus two bathrooms, offering ample space for guests or extended family. Outside, the property transforms into an outdoor paradise. Mature cottonwoods line the beautifully maintained grounds. Indulge in the exclusive 2-acre private fishing and swimming pond boasting a diverse array of fish species, expansive sandy beachfront, a secluded dock, and twin cascading waterfalls, ensuring an unforgettable experience for all. The covered, lighted entertainment pavilion is perfect for hosting outdoor gatherings. The main house and guest house share a spacious, lush green courtyard, connected by a covered walkway and featuring a stunning outdoor stacked stone fireplace. The breathtaking canyon views are the perfect backdrop as you walk across the courtyard to the guest house, which includes a large kitchen with an open living and dining area, a master suite with private courtyard access, a double vanity, custom shower, and a safe step walk-in tub. The second bedroom in the guest house is oversized, with ample room for multiple beds. Additionally, a versatile room with high ceilings and large windows is designed as a pool room but can be adapted for various uses, such as a hobby or craft room, pickleball court, indoor gaming area, event hall, or sunroom. The main house 4 car garage, and guest house 2 car garage connect the two residences, providing ample space for vehicles and storage. This property offers endless possibilities for luxury living, entertaining, and outdoor enjoyment. Don't miss this rare opportunity to own a truly exceptional estate. Contact us today to set up your private tour and experience this incredible property for yourself! Available for negotiation oustide of escrow: Equestrian enthusiasts will appreciate the barn with three stables, tack storage, and an upper loft that can be rented out or used as a caretaker's cabin. Barn +Studio - 759 livable sq ft, tack, storage, stables, covered parking & 1.07 acres Additional acreage available outside of escrow: ***Parcel A- 3 acres, parcel B- 1 acre, parcel C- 2.51 Acres. Ask listing agent for more details. Property and included buildings is Parcel E. Note: Parcel E - 10.23 acres (less small cabin and acreage in the canyon that will be surveyed and split prior to close of escrow).

1187 S Val Vista Drive Gilbert, AZ 85296

$3,500,000
4 Beds
2.5 Baths
2,685 SqFt
Status Active
MLS # 6729558
Property Type Single Family Residence
Price Type --
Rare Acreage in Gilbert. Nearly 5 acres. Existing home is approximately 2700 sqft. Or build your own dream home in the heart of Gilbert on this irrigated horse property. Looking for an investment property - Many Development Opportunities are available on these 3 parcels currently zoned R43. Adjoining nearly 5 acre parcel may also be available for those seeking larger acreage. Don't miss this rare opportunity to live on or develop roughly 5-10 acres in a highly desired Gilbert location - just 1.5 miles to Loop 202 or 4 miles to US 60.

6116 N Las Brisas Drive Paradise Valley, AZ 85253

$3,500,000
3 Beds
3.5 Baths
3,049 SqFt
Status Active
MLS # 6762291
Property Type Single Family Residence
Price Type --
Stunner at Mountain Shadows! This 1 level on-trend newer home is situated in the highly desired guard gated enclave called Villas at Mountain Shadows! This sensational home features amazing views of Camelback Mountain from your great room & back patio entertaining area! Enjoy the privacy & security of Mountain Shadows guard gating in addition to the resort's full amenities/facilities: including the 4500 SF comprehensive gym, 2 heated resort pools, golf, tennis, spa & more! This over the top 1 level home features stunning limestone floors throughout this spacious open floor plan that is centered on the chef's kitchen w/ enormous quartz waterfall edge island open to the spacious dining room & palatial great room w/ floor to ceiling retractable walls of glass for the ultimate seamless indoor/outdoor living experience! The new owners will love the light, bright & airy feel of this open concept great room combination featuring the sensational 12 ft. high ceilings! The dream chef's kitchen features a top of the line Sub-Zero/Wolf/Asko appliance package & custom cabinetry! Enjoy your new Sub-Zero refrigerator/freezer in the kitchen & the wine tower in the bar area! In addition all chef's will delight in using the multiple Wolf ovens & gas range! The primary bedroom features gorgeous Camelback Mtn views through the large picture window (featuring beautiful plantation shutters!). The dream primary bathroom features highly upgraded marble finishes, custom cabinetry w/ double sink vanity, separate soak tub & a palatial walk-in shower! 2 other secondary bedrooms are both ensuite featuring top of the line finishes & spacious closets! Don't forget to see both (2) walk in pantries when you view this fabulous 1 level resort style home in person! Entertain your family & friends in style enjoying the Camelback Mtn. views & built in BBQ center!

7801 N Sherri Lane Paradise Valley, AZ 85253

$3,500,000
4 Beds
5.5 Baths
6,173 SqFt
Status Active
MLS # 6781385
Property Type Single Family Residence
Price Type --
Nestled in the desirable Tatum Canyon of Paradise Valley, this exceptional home spans over 6,174 square feet on a private acre corner lot, offering sweeping mountain views in every direction. Designed for sophisticated living, this residence blends elegance with practicality.On entering, one is greeted by a light-filled great room with soaring ceilings, glass walls, and sliding doors that create a seamless flow between the indoor and outdoor spaces. A meticulously landscaped backyard offers the ultimate retreat with a stunning pool, water features, spa, outdoor BBQ, ramada, a sport court ideal for pickleball, and beautiful lawns — all set against the backdrop of the canyon's natural beauty. The home boasts four spacious bedrooms, a dedicated office The primary suite, positioned in its own wing, is a luxurious sanctuary with a lavish bath, a 360-degree mirrored dressing room, and a cozy sitting area complete with fireplace. Designed with entertaining in mind, the chef's kitchen is a culinary masterpiece, equipped with Viking appliances, concrete countertops, and a professional-grade wine cellar. An 8-foot butcher-block island, floor-to-ceiling stone fireplace, and open-concept design make the kitchen and family room perfect for both intimate and grand gatherings. Additional spaces include a formal dining room with a dry bar, family room, and a 25-foot game room with a wet bar. Each of the four bedrooms is en-suite, with a guest suite for ultimate privacy. An elegant living room along with a library/office with a loft, complement the living areas. Previously owned by a sports star's family, this one-of-a-kind home offers an unparalleled opportunity to own a private, gated resort with dramatic views, luxurious amenities, and the perfect blend of comfort and elegance. Conveniently located with easy access to premier shopping, dining, hiking, and biking trails, this home is just a short drive from Phoenix Sky Harbor and Scottsdale airports, making it the ideal combination of luxury and convenience.

7780 E Vaquero Drive Scottsdale, AZ 85258

$3,500,000
7 Beds
9 Baths
8,460 SqFt
Status Active Under Contract
MLS # 6762399
Property Type Single Family Residence
Price Type --
Welcome home to Gainey Ranch - A guard gated oasis of lush vegetation, convenient shopping, a variety of dining, 27 holes of golf, and active lifestyle amenities such as an indoor gym, sports courts, and a lap pool, all at your doorstep. This gated estate is perfectly situated along the Arroyo golf course on an acre lot, with panoramic golf course and Mummy mountain views. Perfect for car collectors or large families, this home features an 8-car garage (all w/ room for lifts), an attached guest casita with 3 bedrooms and kitchen, as well as a kids wing with 3 ensuite bedrooms, ideal for multi generational living. As you enter the home, a wide wall of floor to ceiling windows draws your eye out over the sparkling blue pool to gently rolling emerald fairways. The expansive layout with bright, airy rooms, offers a variety of living and entertaining options: from the intimate private office, to separate wings for children and/or guests, to the sprawling formal living area, to the cozy open floor family/breakfast room and kitchen. Enjoy the primary rooms' elevated, unobstructed view of the luscious golf course and rugged mountains. The primary suite encompasses a large bedroom, sitting area, wet bar, laundry room as well as His & Hers closets, His & Hers bathrooms, His & Hers showers, AND His & Hers vanities. With easy access to premier amenities, matched with a unique yet highly desired layout - this spacious home embodies Scottsdales vibrant lifestyle full of luxury and leisure.

27111 N 150th Street Scottsdale, AZ 85262

$3,500,000
5 Beds
4.5 Baths
5,513 SqFt
Status Active Under Contract
MLS # 6749282
Property Type Single Family Residence
Price Type --
This fully fenced 5 acre Equestrian Estate is a timeless work of architectural art; a labor of love in every detail. Offering both privacy and sophistication, it is set within a breathtaking desert landscape. This custom residence, tastefully designed by architect Bryan Rains, is impeccably maintained & features a split floor plan with high-end finishes throughout. The Resort-style backyard takes entertaining to a whole new level, allowing for year-round enjoyment of Arizona's natural beauty. The equestrian facilities include a 4-stall barn w/outdoor runs & turnouts with potential for further expansion. Enjoy direct access to extensive trail riding, including McDowell Mountain Regional Park, while remaining conveniently close to fine dining, shopping, & the vibrant Scottsdale amenities.

5871 E Sanna Street Paradise Valley, AZ 85253

$3,500,000
4 Beds
4 Baths
4,956 SqFt
Status Active
MLS # 6783603
Property Type Single Family Residence
Price Type --
Enjoy curb appeal galore at this remodeled Santa Barbara Spanish gem on a quiet cul-de-sac in coveted Camelback Country Estates neighborhood. Soaring ceilings & dramatic 2-story picture windows welcome you to the stately, yet comfortable home, bursting with abundant natural light. Large great room holds a crowd, with room to relax, dine and cook in highly-functional kitchen. Luxurious indoor/outdoor living w/expansive yard that boasts desirable amenities: mountain views, heated pool w/baja shelf/water feature, large covered patio, grassy areas for play, mature trees (citrus too), gate to large field and golf course. Substantial laundry w/walk-in pantry. 3-car, temp-controlled garage w/exercise area. Loads of storage throughout property. Proximate to shopping/dining/commute. Move-in ready!

3800 E Lincoln Drive Unit 5 Phoenix, AZ 85018

$3,500,000 - 4Br/4Ba -  for Sale in Estate Antigua 2nd Amd, Phoenix
New
$3,500,000
4 Beds
4 Baths
4,712 SqFt
Status Active
MLS # 6787976
Property Type Townhouse
Price Type --
Fully renovated and well-executed to the studs plus panoramic 180 degree views! This expansive townhome, which sits at the end of a cul-de-sac within an exclusive, 24 hour guard-gated community (with two pools plus tennis & pickleball) is a lock & leave dream. Wood flooring throughout, Sub-Zero/Wolf appliances, quartz countertops, eat-in kitchen, three primary suites (one upstairs, two downstairs), high ceilings and two living rooms make this a must see. There is abundant natural light in every room, as well as jaw-dropping views. You'll live in the heart of Paradise Valley - just minutes from the area's top resorts, golf & dining - with unparalleled privacy. Additional upgrades include new electrical, new plumbing and a second laundry room so there's one on each floor.

3428 S 159th Street Gilbert, AZ 85297

$3,500,000
5 Beds
5.5 Baths
10,171 SqFt
Status Active
MLS # 6712293
Property Type Single Family Residence
Price Type --
Experience livable luxury in this stunning iconic colonial style home ideally located across the street from the LDS Temple in the heart of Gilbert. The architectural masterpiece combines historic elegance with modern amenities, offering an unmatched lifestyle. Designed for both comfort and entertainment, this nearly 11,000 square foot home features a beautiful front porch and balcony straight out of the movies, grand foyer, 20 ft. vaulted ceilings, extensive molding and trim work, expansive living and dining areas, a huge entertainer's kitchen with hidden walk-in pantry complete with a commercial grade walk-in refrigerator, indoor pro racquetball court, theater room and serene library. Majestic kitchen features a two tier island with breakfast bar and large dining area with the temple as a backdrop out every window. The home boasts 5 spacious bedrooms and 5.5 bathrooms, extended 3 car garage on one side of the house and an additional 2 car garage on the apartment side of the home. Enter the master bedroom through a large sitting room with fireplace and front porch access. Large master has built in bookshelves, bay window with temple views, and large ensuite bathroom complete with his and hers sinks, expansive walk in shower/steamer and walk through master closet. Relax in the upstairs loft, on the balcony or with your favorite movie in the theater. Large laundry room is equipped with 2 sets of washer/dryer, center island surrounded by cabinets and more storage. The separate apartment is perfect for guests, in-laws or rental income. RV gate with RV pad. 32kW paid off solar system with battery backup. With no HOA restrictions, you have the freedom to truly make this home your own. Embrace the perfect blend of historic charm and contemporary luxury in a location that offers top-rated schools, easy access to the 202 freeway, Mercy Hospital, San Tan Mall, dining, entertainment, shopping and community events. Too much to list here, this home is a must see.

865 E Monte Vista Trail Wickenburg, AZ 85390

$3,500,000
5 Beds
7 Baths
7,880 SqFt
Status Active
MLS # 6659880
Property Type Single Family Residence
Price Type --
Experience luxury & sophistication gated community! Integrating indoor & outdoor living. BREATH TAKING VIEWS! Nestled in the heart of Wickenburg, this stunning custom home has 5 bedrooms, 7 baths & theater room. Entering thru this grand entrance you are greeted w/a water feature & expansive living spaces. Gourmet kitchen is a chefs dream. Featuring top-of-line appliances, custom cabinetry, 2 warming drawers, 3 ovens, & a spacious island. Custom built bar. Relax by one of 5 fireplaces. Your master suite is a private sanctuary boasting a spa-like feel, fireplace, Large walkin & jet tub. Stepping into your private backyard oasis offers total relaxation. Negative edge pool/spa, built in b-bque, ramada, steam room & lush landscape is your ideal entertainment. The spacious 3200 sq ft RV garage. Spacious RV garage with a drive through RV Stall, can hold 8+ vehicles. Until you see this amazing property in person, you will not appreciate the value. This custom home was built by Tom Hogue and used as his personal home. From the grand entry way, rocked pillar, fountain water feature, floor to ceiling retractable glass doors, workout room, sauna and so much more. This is a MUST SEE!!!

18720 N 101st Street Unit 2006 Scottsdale, AZ 85255

$3,500,000
2 Beds
3 Baths
2,752 SqFt
Status Active
MLS # 6718632
Property Type Apartment
Price Type --
**NEW-CONSTRUCTION** The best opportunity to be inside the gates of Silverleaf at a competitive price. ICON at Silverleaf offers an unlimited lifestyle with the lock-and-leave luxury of exceptional single-story flats amid the incomparable beauty of Arizona's McDowell Mountains. This rare and unique offering of spacious, open-concept residences affords the very best of all possible worlds, close to the cosmopolitan conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert behind the gates of the truly iconic upscale private resort community of Silverleaf.

19621 N 96th Place Scottsdale, AZ 85255

$3,500,000
5 Beds
4 Baths
4,435 SqFt
Status Active
MLS # 6752044
Property Type Single Family Residence
Price Type --
Highly sought after, gated DC Ranch Hacienda on one of a kind, oversized lot is tucked on an exterior cul de sac street with amazing curb appeal, faces open preserve and backs to natural area with picturesque McDowell mountains. Capture serene mountain and city light views from multiple areas of the home. Desirable great room home plan features 5 bedrooms, 4 baths, downstairs office and plus an upstairs office/den with wine fridge bar, and an expansive flex bonus room upstairs, with charming interior courtyard for entertaining. Enjoy seamless indoor/outdoor AZ living with a telescoping glass door from great room to picture perfect resort style backyard with scenic mountain backdrop, featuring oversized grassy area plus garden planters, outdoor covered ramada adjacent to generous heated pool and spa, and linear firepit, built-in BBQ with seating, covered patio, with ample hardscape space for seating/lounging. Stunning designer finishes including oak hardwood flooring throughout the home, light and bright oversized eat-in kitchen island, chic statement vent over gas range overlooking backyard, refined marble and tile selections throughout for a polished sophisticated appeal. Breathtaking views from second level primary suite with sitting area overlooking majestic McDowell Mountains, enjoy generous wardrobe, and spa like bath with freestanding bubble soaker tub. Convenient utility room with hall tree, three car tandem garage with cooling unit, plus spacious additional paved parking for four more cars. Quaint neighborhood park nearby. This showstopper is a unique opportunity in the coveted DC Ranch Haciendas.

Leave a Reply

Your email address will not be published.