January Newsletter

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Featured Community
Ancala
Ancala is a beautiful community located high in the McDowell Mountains in Scottsdale, Arizona. The guard-gated community is noted for its championship golf course, safety, and beauty.
 Golf Jokes
Golf Definitions: 

Golf: A 5 mile walk punctuated with disappointments

Fairway: An unfamiliar tract of closely mowed grass running from the tee to the green. Your ball is usually found immediately to the left or right of it

Oxymoron: An easy par-3

Practice Tee: A place where golfers go to convert a nasty hook into a wicked slice

Mulligan: Invented by an Irishman who wanted to hit one more 20-yard grounder.

Statistics
Some of the early developments in downtown Phoenix failed but were revived with help from a group created to bring development – particularly affordable housing – to neighborhoods along light rail.

-AZ Central

Phoenix home prices are up 9.5% over the last year (July to July). That’s a hot market!

-AZ Real Estate

January 2019
Greetings!

Welcome to the January 2019 edition of the O’Malley Group’s e-newsletter.
Phoenix home prices are now only back to where they were at the top of the real estate bubble in 2006, 12 years ago. If you take into account inflation, however, Phoenix home prices are still 20% below the inflation-adjusted peak in 2005.

For any inquiries on how the new market conditions may affect you, don’t hesitate to email me anytime. It would be my pleasure to be of service.
Sincerely,
Charlie O’Malley
The O’Malley Group

Featured Community
Ancala
The community of Ancala stretches across 850-acres of the Sonoran Desert and has incredible views of the famous Camelback and the McDowell Mountains.
It has its own community park which, in addition to grassy play areas, has a basketball court, swing set, picnic table area, water fountain, barbecue grill, and restroom. The Ancala Country Club is located within the community and offers a Pete Dye designed, 18-hole golf course, recently renovated clubhouse and restaurant, fitness center, heated swimming pool and lighted tennis courts.
Ancala provides close proximity to three excelling schools: Anasazi ElementaryMountainside Middle School, and Desert Mountain High School. Strategically located with easy access to the 101 freeway, Ancala is near recreational areas in Scottsdale which offer upscale shopping, restaurants, spas, healthcare facilities, and many recreational activities.
Ancala is fortunate to have a full-time, on-site executive director, committed to helping maintain Ancala as an upscale community.
*When purchasing the land in 1937, Frank Lloyd Wright envisioned homes on the side of the McDowell Mountains looking like “butterflies alighting on a rock.” His vision and property was the land for Ancala. Ancala was named after a rock and flower garden in Scotland.

Real Estate Market Forecast 2019
As per real estate company named Zillow, the median home value in Phoenix is $235,200. Phoenix home values have gone up 8.4% over the past year and Zillow predicts they will rise 4.3% within the next year. The median list price per square foot in Phoenix is $167, which is higher than the Phoenix-Mesa-Scottsdale Metro average of $158. The median price of homes currently listed in Phoenix is $279,650 while the median price of homes that sold is $239,300. The median rent price in Phoenix is $1,397, which is lower than the Phoenix-Mesa-Scottsdale Metro median of $1,475. The national economy is super strong and the number of people moving into Phoenix is finally strong again after tanking during the Great Recession.
Single family homes continue to drive the Arizona real estate market in 2018. As compared to last year, single family homes grew by 4%. Particularly, previously-owned single family houses compromise the majority of residential sales in the Arizona real estate market- approximately 80% of all sales. Annually, the number of previously-owned single family homes are three to four times greater than new single family home sales. As a matter of fact, the Phoenix real estate market is of the top performing, not only in the Arizona real estate market but nationwide as well.
Current trends fairly predict that the Phoenix home prices and appreciation rates in 2019 are very likely to be even higher than in 2018. Some real estate experts think that the median home prices will increase by at least 25% in 2019 and the upcoming few years. Despite the increase in property prices, the Phoenix real estate market remains much more affordable than other places.

Things To Do in January
Jan 7: Vertuccio Farm Lights
 
Vertuccio Farms is excited to debut its first annual Christmas Farm Light’s Celebration, open November 23, 2018 – January 11 2019. Stretching out over 10 acres, this awe-inspiring Christmas light show is a must-see holiday destination. Visitors will be greeted by the scent of hot cocoa, festive foods, and captivating sights of over 2 million glimmering lights, displayed and synchronized to a variety of Christmas classics.
Jan 18: Double Agents: Carla Fernandez and Pedro Reyes
Scottsdale Museum of Contemporary Art presents Double Agents: Carla Fernández and Pedro Reyes, a two-part exhibition that envisions an alternative future through distinct artistic practices. The exhibition features recent works by two of Mexico’s most prominent artists who happen to be partners in life. For the first time, the couple collaborates artistically in the form of protest posters, accompanied by individual works of sculpture, video, fashion and photography. Through their varied mediums, both Fernández and Reyes encourage individual agency, believing we all hold the ability to create change in our social, political and personal spheres.
Jan 29: ASU Symphony Orchestra
The ASU Symphony Orchestra presents a dramatic program of Eastern European works influenced by events of World War II. Core repertoire works by Shostakovich and Bartok are performed in dialogue with the avant-garde Threnody and the masterpiece of neoclassicism Concerto for String Orchestra by pioneering female composer Grazyna Bacewicz.
Link to these events and many more is below!