Last week’s economic news included readings on job openings, consumer sentiment and the Federal Reserve’s monthly survey of senior loan officers. Weekly reports on mortgage rates and new jobless claims were also released. Freddie Mac noted that last week’s primary mortgage market survey did not include post-election readings as the survey information was gathered prior to election results.
Loan Officers Survey: High Demand for Home Loans, Commercial Lenders Raise Standards
As demand for mortgage financing and homes increase, the Federal Reserve reported last week that banks are tightening the screws on commercial lending requirements. This could present challenges to home builders; they’ve been consistently pressured to build more homes at a faster pace. Less availability of commercial financing may impact home builders and their suppliers. The survey indicated that demand for home and consumer loans also increased.
Mortgage Rates Rise, New Jobless Claims Fall
Mortgage rates rose across the board on average. Freddie Mac reported the rate for a 30-year fixed rate mortgage rose three basis points to 3.57 percent. The average rate for a 15-year fixed rate mortgage increased four basis points to 2.88 percent, which equaled the average rate for a 5/1 adjustable rate mortgage. Average discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New jobless claims fell to 254,000, which was lower than the expected reading of 260,000 new claims. Last week’s reading was also lower than 265,000 new claims filed the prior week. Job openings held steady at 5.50 million in September.
According to the University of Michigan’s monthly consumer sentiment index, November’s reading rose 91.60 in November as compared to an expected index reading of 88.00 and October’s reading of 87.20. This reading falls in line with strengthening labor markets. Improving economic conditions can influence consumers who want to buy homes.
What‘s Ahead
Next week’s economic reports include releases from the National Association of Home Builders, Commerce Department readings on housing starts and building permits issued and weekly releases on new jobless claims and mortgage rates.
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6876 S Star Drive
Gilbert, AZ 85298
$4,300,000
6
Beds
7
Baths
8,490
SqFt
Status
Active
MLS #
6724968
Property Type
Single Family Residence
Price Type
--
Located in the prestigious Estados at Circle G, in the country club community of Seville. As you step through the Mediterranean-inspired courtyard and into the grand foyer, you'll be transported to the old-world charm of Italy. Cantera stone pillars, finished ceilings with brick, and wood beams create an ambiance of timeless elegance. The heart of the home is the family room, featuring 25+ foot soaring ceilings and a handcrafted Cantera stone fireplace. Adjacent to the gourmet kitchen with a huge granite bar, this space is perfect for entertaining family and friends. The master wing, conveniently located on the first floor, offers privacy. Indoors, discover 6 bedrooms, 7 baths, game room, theater room, and a grand office. Outside enjoy one of the best resort style backyards in the Gilbert
10867 E Laurel Lane
Scottsdale, AZ 85259
$4,300,000
6
Beds
5.5
Baths
4,899
SqFt
Status
Active
MLS #
6736397
Property Type
Single Family Residence
Price Type
--
This custom Cactus Corridor estate impeccably blends luxury with functionality. Nestled on an impressive 1+ acre cul de sac street with no HOA, this transitional-style masterpiece, completed in 2017, offers stunning curb appeal and an expansive, open floor plan with large-scale living areas that connect seamlessly for entertaining and your family gatherings. Equipped with a state-of-the-art Smart Home Control 4 System, you can effortlessly monitor music and TVs settings to suit your lifestyle. The gourmet kitchen is a chef's dream, boasting high-end Thermador appliances, a stunning combination of quartz countertop materials, two large islands, a fruit sink, walk-in pantry, deluxe butler's pantry, and thoughtfully designed custom cabinetry throughout for optimal organization. Family room has 16-foot soaring ceilings, 20 ft. & 8 ft. sliding pocket doors, an 8-foot linear fireplace, and a floor-to-ceiling accent wall. Formal dining room includes a bar niche with beverage refrigerator, sink, and wine glass display. The primary suite is a luxurious retreat featuring a spa-style bathroom with a freestanding tub, an oversized shower with body shower heads and a rainfall showerhead, and two separate closets complete with an additional washer and dryer. Adjacent to the master suite is a spacious office with floor-to-ceiling windows and a walk-in closet. All 4 secondary bedrooms are en-suites with custom walk-in closets, providing ample privacy and comfort. Additional highlights include a large laundry and utility room, a drop zone with shelving leading from the garage. Automated blinds throughout the home. 3.5 extended car garage with an epoxy floor. The resort-style backyard is an entertainer's paradise, featuring a sparkling swimming pool and spa, spacious patios, and an outdoor living room complete with a covered seating area and bar/BBQ island. The expansive lot, with lush grass and sprawling travertine-tiled patio and pool area, brings a resort feel right to you. There's plenty of space to add a guest retreat or a sport pickleball court. This home puts the fun in functional and perfectly blends tranquility and modern sophistication in one of Scottsdale's most sought-after neighborhoods. Conveniently located near premier shopping, dining, and entertainment destinations and just minutes from the 101 freeway. and less than 10 minutes from Scottsdale HonorHealth and the Mayo Clinic. Cactus Corridor is desired for its easy access to shopping, hiking and bike trails, and all the amenities Scottsdale has to offer. This property offers the ideal balance of privacy and accessibility. With its stunning design and prime location, your dream home awaits and is ready for you to move right in. Refer to supplement for more details.
1440 Pumphouse Circle
Flagstaff, AZ 86005
$4,300,000
4
Beds
4
Baths
5,500
SqFt
Status
Active
MLS #
6752199
Property Type
Single Family Residence
Price Type
--
EXQUISITE HIGHLAND MEADOWS ESTATE. This recently remodeled home is nestled in the pines on five acres in the gated Highland Meadows neighborhood. Sit on your private deck and enjoy one of Flagstaff's most beautiful gardens including a vegetable garden. Walk inside the entry to a warm and beautiful great room with vaulted ceilings, a stone fireplace, formal dining and a high end appointed kitchen inviting you in to this charming space. The primary bedroom on the main level offers everything needed for over the top living. Down the hall is a loft for the kids or the adults. Downstairs walk into the second family room designed for the ultimate relaxation experience. A second primary suite is off to the side and two additional suites are on the other side with their own Jack and Jill bath. All levels offer plenty of storage. There is a 1200 sq. ft. RV garage providing two additional parking spaces making a total of 5. Or bring your horses and convert this garage into a spacious horse barn. Most furnishings convey with this move-in ready estate.
4849 N Camelback Ridge Road
Scottsdale, AZ 85251
$4,295,000
3
Beds
4
Baths
3,141
SqFt
Status
Active
MLS #
6636463
Property Type
Apartment
Price Type
--
This three bedroom plus den residence features some of the best views at Ascent overlooking the golf course and to the McDowell Mountain range. Tucked at the base of Camelback Mountain, Ascent is a new, private gated community adjacent to The Phoenician Resort - one of Arizona's premier luxury resort destination. Ascent presents a new level of luxury living for Scottsdale with views overlooking the Valley & Camelback Mountain. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, and large outdoor patios. Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite bulthaup Kitchens, wood floors and Sub Zero-Wolf appliance package. A private rooftop terrace and the Mountain Club pool and fitness
37200 N Cave Creek Road Unit 1005
Scottsdale, AZ 85262
$4,285,050
4
Beds
4.5
Baths
3,899
SqFt
Status
Active
MLS #
6746716
Property Type
Single Family Residence
Price Type
--
DESINGER FURNISHED NEW HOME! FULL DESERT MOUNTAIN GOLF MEMBERSHIP AVAILABLE! ENTERING THE GATED ENTRANCE TO THIS NEW CULLUM HOME WELCOMES YOU TO THE SOUND OF A BUBBLING FOUNTAIN IN THE QUAINT LANDSCAPED COURTYARD WITH GUEST CASITA AND TOWERING GLASS FRONT DOOR. UPON ENTERING THE MAIN HOME YOU WILL NOTICE THE VIEW STRAIGHT THROUGH THE HOME OVERLOOKING THE WATER AND GREEN OF THE 13TH FAIRWAY OF THE RENEGADE COURSE. THE CHEF'S KITCHEN ADORNED WITH SUB ZERO REFRIGERATOR, WOLF COOK TOP, OVENS AND COVE DISHWASHER ALL OVERLOOK THE LIVING AND ENTERTAINING SPACE. THE DINING AND GREAT ROOM WITH HIGH CEILING, FIREPLACE WITH BUILT IN SHELVING AND WALL OF GLASS OPEN ONTO THE ENTERTAINERS DREAM BACKYARD. THE SWIMMING POOL, BUILT IN BBQ, FIRE PIT AND LARGE COVERED PATIO HAVE AN AMAZING VIEW OVER THE RENEGADE COURSE, POND AND MOUNTAINS IN THE DISTANCE. THIS IS A GREAT PLACE TO ENJOY THE WINTER SUN. THE PRIMARY SUITE HAS A DESIGNER TOUCH WITH A STONE WALL ACCENT AND LARGE FIREPLACE FOR THOSE COOL EVENINGS. THE LARGE BATH WITH SEPARATE SINKS, SHOWER, SOAKING TUB AND CUSTOM CLOSET TO GET READY IN. TWO EN-SUITE BEDROOMS THAT ACCOMMODATE KING SIZE BEDS ARE ALL SEPARATE FROM EACH OTHER WITH ONE OPENING INTO THE PRIVATE COURTYARD. THE LARGE OFFICE WITH COURTYARD VIEW, LAUNDRY AND POWDER BATH COMPLETES THIS SINGLE LEVEL LIVING HOME. GUESTS WILL NEVER WANT TO LEAVE IN THEIR OWN CASITA WITH LARGE BATH. THE OVERSIZED 3 CAR GARAGE WITH EPOXY FLOORING IS LARGE ENOUGH TO STORE THAT GOLF CART. THIS HOME WILL BE MOVE IN READY BY YEARS END JUST IN TIME TO ENJOY ALL THAT DESERT MOUNTAIN HAS TO OFFER! BRING YOUR CLUBS AND GET ON ALL OF THE SEVEN COURSES!
10610 E Stoney Circle
Scottsdale, AZ 85262
$4,277,625
4
Beds
4.5
Baths
5,185
SqFt
Status
Active
MLS #
6769131
Property Type
Single Family Residence
Price Type
--
INTRODUCING STANDING STONES, AN EXCEPTIONAL NEW LUXURY COMMUNITY THAT REDEFINES ELEVATED LIVING. A TRUE MASTERPIECE OF CONTEMPORARY LIVING NESTLED AMIDST THE BREATHTAKING BACKDROP OF THE SONORAN DESERT LANDSCAPE, WITHIN AN EXCLUSIVE COMMUNITY BOASTING EIGHT METICULOUSLY CURATED HOMESITES, EACH OFFERING AN EXCEPTIONAL CANVAS FOR CRAFTING YOUR OWN CUSTOM ESTATE HOME. HERE, RESIDENTS WILL FIND THE PERFECT BLEND OF NATURAL BEAUTY, SPACIOUS LOTS, AND PROXIMITY TO URBAN CONVENIENCES. THE AMETHYST FLOORPLAN INTRODUCES MODERN ARCHITECTURE FROM THE MOMENT YOU ARRIVE, WITH A CAPTIVATING ENTRANCE FEATURING A PRIVATE GATED COURTYARD ADORNED WITH A WELCOMING FIREPLACE, CREATING AN INVITING SPACE FOR OUTDOOR LIVING AND ENTERTAINING. AS YOU STEP THROUGH THE CUSTOM GLASS DOOR ENTRY, YOU ARE TRANSPORTED INTO A WORLD OF ELEGANT DESIGN AND LUXURIOUS LIVING. THE HEART OF THIS REMARKABLE FLOORPLAN IS UNDOUBTEDLY THE EXPANSIVE GREAT ROOM, A TESTAMENT TO OPEN AND AIRY LIVING WITH 12-FOOT CEILINGS AND AN INVITING FIREPLACE. THIS HOME OFFERS 4 BEDROOMS, AN OFFICE/FLEX SPACE, 4.5 BATHS AND A GENEROUS 5,185 SQUARE FEET OF LIVING SPACE. DESIGNED TO CREATE A SEAMLESS CONNECTION BETWEEN THE INTERIOR AND THE BREATHTAKING DESERT LANDSCAPE, THIS SPACE EXUDES CHARM AND SOPHISTICATION. WITH AMPLE WINDOWS THAT BATHE THE ROOM IN NATURAL LIGHT AND ALLOW FOR UNINTERRUPTED VIEWS OF THE SURROUNDING NATURE, IT'S A PLACE WHERE TRANQUILITY MEETS FORWARD THINKING DESIGN. THE BUILT-IN BAR AREA ADDS AN ELEMENT OF GRANDEUR, OFFERING A LUXURIOUS SETTING TO ENTERTAIN GUESTS. GLASS DOORS EXTEND GRACEFULLY TO THE PATIO, FURTHER BLURRING THE LINES BETWEEN INDOOR AND OUTDOOR LIVING. FOR THOSE PASSIONATE ABOUT THE CULINARY ARTS, THE GOURMET KITCHEN IS A DREAM COME TRUE, BOASTING SUB-ZERO AND WOLF APPLIANCES AND AN EXPANSIVE ISLAND WITH BAR SEATING, CREATING A CULINARY HUB THAT EFFORTLESSLY CONNECTS TO THE GREAT ROOM AND DINING AREA. WHETHER YOU'RE HOSTING A DINNER PARTY OR ENJOYING A CASUAL FAMILY MEAL, THIS SPACE IS DESIGNED TO MEET YOUR EVERY NEED. A SPACIOUS WALK-IN BUTLERS' PANTRY JUST OFF THE KITCHEN OFFERS ABUNDANT CONVENIENCE AND AMPLE STORAGE. FOR THOSE WHO DESIRE EVEN MORE FUNCTIONALITY, AN OPTIONAL SECOND KITCHEN IS AVAILABLE, ELEVATING YOUR CULINARY EXPERIENCE TO NEW HIGHS. THE PRIMARY SUITE IS A PRIVATE RETREAT. AS YOU APPROACH, A SERENE STUDY/LOUNGE SITTING AREA OFFERS THE PERFECT SPACE TO UNWIND. THE PRIMARY SUITE ITSELF IS A HAVEN OF LUXURY AND COMFORT, WITH THE OPTION TO ADD A FIREPLACE, CREATING A COZY AND INVITING ATMOSPHERE. THE WALK-IN CLOSET OFFERS AMPLE STORAGE SPACE FOR YOUR WARDROBE AND ACCESSORIES, ENSURING THAT EVERY DETAIL IS METICULOUSLY ATTENDED TO. ADDITIONAL BEDROOMS ARE ALL ENSUITE, EACH WITH ITS OWN WALK-IN CLOSET, PROVIDING THE UTMOST COMFORT AND PRIVACY FOR ALL OCCUPANTS. AN OFFICE/FLEX SPACE FURTHER ENHANCES THE HOMES VERSATILITY, ALLOWING YOU TO CREATE YOUR OWN DEDICATED WORKSPACE, PERSONAL GYM, OR A HAVEN TAILORED TO YOUR UNIQUE NEEDS. THE EXPANSIVE COVERED PATIO BECKONS WITH THE PROMISE OF BREATHTAKING DESERT VIEWS AND AMPLE SPACE FOR CREATING YOUR OWN OUTDOOR OASIS. FOR THIS TURNKEY OFFERING, THE PACKAGE COMES COMPLETE WITH A POOL, BUILT-IN BBQ AND LANDSCAPING. THE PERFECT COMPLEMENT TO THE DESERT'S NATURAL BEAUTY, AND FOR BEAUTIFULLY LANDSCAPED GARDENS THAT ENVELOP YOUR HOME IN SERENE LUXURY. STANDING STONES IS AN INVITATION TO ELEVATE YOUR LIFESTYLE AND IMMERSE YOURSELF IN THE SPLENDOR OF NORTH SCOTTSDALE'S MOST EXCLUSIVE COMMUNITY. HERE, LUXURY AND NATURE COEXIST IN PERFECT HARMONY, OFFERING AN UNPARALLELED LIVING EXPERIENCE THAT IS AS UNIQUE AS IT IS BREATHTAKING.
27483 N 103rd Way
Scottsdale, AZ 85262
$4,275,000
3
Beds
3.5
Baths
6,200
SqFt
Status
Active
MLS #
6777156
Property Type
Single Family Residence
Price Type
--
Old world Mediterranean design in the guard-gated community of Estancia * Located on a .75 acre site with commanding views of Pinnacle Peak, Troon Mountain and the McDowell Mountain Preserve * Timeless architecture coupled with a modern floor plan and exceptional finishes create an impeccable residence * The home lives on the main level with the Chef's kitchen opening to the Great Room (wet bar, dining and living room); the Primary suite and owner's den share a view deck offering incredible views * A grand staircase or elevator provide access to the lower level, which is complete with a full guest suite, temperature-controlled wine cellar & dining/tasting room, and a media room * Detached Guest House with sitting room, kitchenette and full suite * Oversized 3-car garage and ample storage complete the residence *
25 Cibola Drive
Sedona, AZ 86336
$4,250,000
3
Beds
3
Baths
3,367
SqFt
Status
Active
MLS #
6764640
Property Type
Single Family Residence
Price Type
--
Welcome to Sedona's Best ENTERTAINER' VIEW Dream Home, a stunning 5,411 sq ft SOLAR residence designed for those who love to host friends and make memories! With breathtaking views to the North and the majestic Mogollon Rim to the east, this home is a sanctuary of luxury and convenience, featuring an elevator for easy access to both levels. Step inside this exquisite 3-bedroom, 3-bathroom home, where the heart of the property is the expansive 1,575 sq ft Party Room. This spectacular space boasts soaring 12 ft ceilings, a Sit-Up Bar for 6, a Commercial Indoor BBQ, and wine fridges, making it perfect for entertaining. Imagine gatherings around the fireplace or hosting lavish dinners for 10 or charity events for 80, all while enjoying ample room for a grand piano and your guests' delight. Open the impressive window wall to seamlessly transition from the Party Room to your 735 sq ft Convertible Indoor/Outdoor Pool area, featuring a jacuzzi and an intricate lighted mosaic with a pebble water wall: an oasis you can enjoy year-round! The Great Room is a masterpiece, showcasing wood ceilings and exposed trusses, complete with a Chef's Kitchen w/ Pass through to the Party Room, Bar seating for 6 to watch a Chef's Demonstration on the gas cooktop island, MASSIVE Butlers' Pantry, & an additional Dining Room for 8. Cozy up near the fireplace as you take in the stunning views, or step out onto your massive deck for al fresco dining and sunset happy hours. The first level also features a versatile 3rd bedroom currently used as a home gym, complete with a separate living area and kitchenette. The Guest Bedroom Suite and bath offer the ideal retreat for your visitors, ensuring privacy and comfort. Additional amenities include multiple HVAC zones, remote shades, charming Lucy Paradise stained glass accents, and a Home Hydrant Talco Fire Safety System. Every detail has been meticulously curated for your convenience and peace of mind. This is a must-see in person!
21530 W Granite Ridge Road
Buckeye, AZ 85396
$4,250,000
4
Beds
4.5
Baths
6,231
SqFt
Status
Active
MLS #
6543828
Property Type
Single Family Residence
Price Type
--
This one-of-a-kind mountainside Villa is located on an acre+ golf course lot, nestled into the base of White Tank Mountains overlooking the Signature 12th Green of The Verrado Founders Course. A true architectural masterpiece of quality craftsmanship and the finest materials make this a unique buying opportunity for the most discriminant of Buyers. Meticulously designed to blend into the natural desert surroundings, this home features too many custom finishes to list them all. A stunning and dramatic Great Room with reclaimed Truss beams spanning the full length of this truly ''Great Room''. Panoramic mountain and golf course views from every window and balcony. A Gourmet Kitchen with Sub-Zero and Wolf appliances and your very own wood burning pizza oven are an entertainer's dream. Beautiful ceiling and architectural details throughout this residence. A large covered patio anchors the backyard retreat where you will find a built-in BBQ, lounge area, fire-pit and negative edge swimming pool and spa. This 6,231sqft estate home comes complete with 4 Bedrooms, 4.5 Baths, Bar, Formal Dining Room, Atrium, Theater Room, Private Office, 4 fireplaces and much much more. Inquire about a private tour of this property today.
12401 N 68th Street
Scottsdale, AZ 85254
$4,250,000
5
Beds
5.5
Baths
5,197
SqFt
Status
Active
MLS #
6756219
Property Type
Single Family Residence
Price Type
--
Welcome to this stunning new build on a large lot, designed for luxury and family living! This beautifully crafted 5-bedroom, 5.5-bathroom home offers an open, spacious layout perfect for active families. The gourmet kitchen with high-end appliances flows seamlessly into the living area and dining room, ideal for entertaining friends and family. The additional living space provides a quiet retreat for kids or guests, and each bedroom features its own en-suite bathroom for added comfort and privacy. The expansive backyard has a new sparkling pool, spa, and a 1 bedroom/1 bath guest house, creating a perfect outdoor haven for family fun all year. Located in a top-rated school district and minutes from great shopping and dining, this home balances convenience with a family-friendly lifestyle.
7850 E El Sendero Drive Unit 22
Scottsdale, AZ 85266
$4,250,000
5
Beds
6
Baths
5,509
SqFt
Status
Active
MLS #
6752419
Property Type
Single Family Residence
Price Type
--
Discover one of Bill Tull's finest works of art in the beautiful Boulders community. Discerning buyers will appreciate the attention to detail that only an authentic adobe home built by Bill Tull can provide. This private retreat spans two lots and features three guest casitas, 13 fireplaces, a sauna, a 200+ bottle wine cellar, golf cart garage, massive viga beams, expansive latilla ceilings, saguaro rib window treatments, hand-carved woodwork, countless niches, flagstone flooring, and one of Bill Tull's most thoughtfully designed kitchens. The home is authentic adobe, meaning it was constructed with handmade solid bricks from the earth surrounding the property. The result is a home built with exceptional quality and care, boasting unparalleled efficiency for the desert climate. This home has been meticulously maintained by one owner, a close friend of Bill Tull, and represents one of his last completed projects. The property is golf-course adjacent, incredibly private, and offers scenic mountain views from the upper patios. A golf membership at the Boulders Golf Club, a golf cart, and most all furniture, furnishings, and artwork are available through a separate bill of sale. This is your opportunity to own a truly exceptional home.
6648 E Horseshoe Road
Paradise Valley, AZ 85253
$4,250,000
4
Beds
4
Baths
4,590
SqFt
Status
Active
MLS #
6776132
Property Type
Single Family Residence
Price Type
--
This recently renovated, charming 4 bed, 4 bath, 4,650 sq ft home boasts a huge backyard. Mature sculptured mesquite trees, including one with a children's treehouse, + citrus grove separate the very large grass yard + heated pool from a private pickleball/sports court. The modern interior features white oak floors, exposed brick walls, + contemporary wood accents. The chef's kitchen opens to a great rm + patio w/ BBQ, fireplace, TV + an outdoor shower nearby. A versatile large flex rm can be a game rm, fitness space or fifth bedrm. There is also a glass wine wall, attached guest casita + a cozy office . The home was completely gutted in 2020 with new kitchen, auxiliary bathrms + additional construction.In 2024 oak floors were installed and a new primary bathrm. 3 C'S SCHOOL DISTRICT! There is beautiful detail in the curved folded plaster wall which sits about 8 inches just beneath the clay tile roof. Citrus trees: Key lime, mandarin orange, naval orange, Lisbon lemon, Oro Blanco Grapefruit