28 Apr 08 
Tucson Real Estate Agent Record Home Sale
If you want to hear about the best deals in housing, you may want to subscribe to New Homes Section's Blog.
Stay Connected to New Homes for Sale and Builder Incentives!
Thanks for visiting!
Tucson real estate agent, Nikki Mehalic-Halle, sold a home in Paradise Valley to a Canadian buyer for a record-setting $14 million. The home is believed to be the highest recorded Arizona home sale to date. The home is equipped with state of the art fixtures and appliances, a wine cellar, and exceptional landscaping that includes a lavish pool and spa area.
The Maricopa County Recorder’s Office file states that the home was purchased for cash by the Mohave Road Trust for beneficiaries – Jack, Samantha, and Stephanie Zekelman. The buyers had been searching for the right home for the last couple years, in both Phoenix and Tucson, but decided on Phoenix due to the convenience of flying to and from Canada, says Mehalic-Halle.
This recent purchase is one more Canadian investor buying homes in and around the Phoenix area as of late. The wave of foreign investment in Arizona real estate is greatly appreciated by home sellers and for many sellers facing the likeliness of foreclosing.
Read this story, by Christie Smythe of the Arizona Daily Star, in its entirety by clicking here.
Tags: arizona, arizona daily star, canadian buyer, christie smythe, foreign investment, maricopa county, nikki mehalic halle, paradise valley, phoenix real estate, record home sale, tucson real estate
28 Apr 08 Who’s Buying Phoenix Real Estate?
According to a recent report from The Arizona Republic’s Catherine Reagor, Canadians are buying Phoenix real estate. In 2006, roughly 750 Canadians bought homes in Phoenix, which is reportedly close to double that of the previous year. The growing number of foreign investors in the Phoenix real estate market has provided a much-needed boost for a market that has seen decelerated growth due to the housing market downturn.
Phoenix real estate agents are welcoming interested parties from north of the border, as they too have experienced difficult times from the decline in home sales as of late. Many investors are taking advantage of short-sale transactions and targeting homeowners facing foreclosure. Much of the East Coast, along with Florida, is also experiencing a flow of foreign investors. While home sellers are relieved to get rid of their properties; many industry experts are concerned that unloading a home for as little as half of what it is valued at, will have negative repercussions.
Read Reagor’s article in its entirety by clicking here.
Tags: arizona republic, canada, catherine reagor, foreign investment, phoenix arizona, phoenix real estate, short sale
